D.R. Horton DHI Business Segments
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Eliminations and Other | -$284M-5.4% | -$209.1M-2.1% | -$580.8M-36.4% | -$354.1M-41.5% | -$269.4M+9.3% | |
| Financial Services | $192.8M-9.4% | $184.6M+1.3% | $218.2M-1.7% | $227.8M-6.0% | $212.9M-5.6% | |
| Forestar Group | $374.3M+6.6% | $273M+9.0% | $670.5M+21.6% | $390.5M+22.6% | $351M+5.2% | |
| HomeBuildingOps | $7.06B-1.9% | $6.53B-8.9% | —— | —— | $7.2B-15.2% | |
| Other Nonoperating Income (Expense) by Business | ||||||
| Eliminations and Other | $300K-70.0% | $100K-90.0% | -$2.5M-111% | -$100K+97.9% | $1M+900% | |
| Financial Services | $18.7M-8.3% | $18.4M-10.2% | $23.5M-8.6% | $24.5M-9.3% | $20.4M-13.6% | |
| Forestar Group | $1.6M+1,700% | $2.3M-20.7% | $6.1M-28.2% | $1.3M-86.2% | -$100K-102% | |
| HomeBuildingOps | $11.1M-34.7% | $17.2M-42.5% | —— | —— | $17M-36.8% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Business | ||||||
| Eliminations and Other | $1.6M+136% | $11M-24.7% | -$65.3M— | -$7.9M-140% | -$4.4M-729% | |
| Financial Services | $51.7M-29.2% | $58M+19.3% | $75.7M-0.3% | $81.3M-11.0% | $73M-6.4% | |
| Forestar Group | $43.9M+7.9% | $20.8M-5.0% | $113.1M+4.2% | $43.6M-15.5% | $40.7M-30.9% | |
| HomeBuildingOps | $757.9M-18.9% | $708.1M-30.1% | —— | —— | $935M-31.4% | |
| Other assets by Business | ||||||
| Eliminations and Other | -$24.4M-136% | $34M-50.5% | $89M+384% | -$100.1M-186% | $68.5M+18.9% | |
| Financial Services | $177.7M-9.9% | $183.5M+30.1% | $220.6M+3.9% | $227.6M+23.1% | $197.2M-1.7% | |
| Forestar Group | $93M-8.7% | $106.6M+25.4% | $104.6M+22.2% | $100M+41.6% | $101.9M+68.4% | |
| HomeBuildingOps | $3.55B— | $3.43B— | $3.34B+12.4% | —— | —— | |
| Total Assets by Business | ||||||
| Eliminations and Other | -$355.1M-79.3% | -$310.3M-69.1% | -$272.2M+8.4% | -$393.4M-279% | -$198.1M-2.0% | |
| Financial Services | $3.13B+6.3% | $2.35B+7.0% | $3.06B+3.4% | $3.29B+6.5% | $2.95B-8.3% | |
| Forestar Group | $3.17B+4.3% | $3.18B+7.3% | $3.14B+10.5% | $3.12B+16.7% | $3.04B+17.1% | |
| HomeBuildingOps | $26.45B— | $26.4B— | $26.7B-2.8% | —— | —— | |
| Cost of Sales by Business | ||||||
| Eliminations and Other | -$290M-8.1% | -$224.2M-0.4% | -$522.3M-29.5% | -$350.8M-25.5% | -$268.2M+11.3% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $294.1M+8.2% | $218M+11.6% | $520.9M+24.2% | $310.8M+25.9% | $271.8M+8.4% | |
| HomeBuildingOps | $5.67B+0.4% | $5.21B-6.2% | —— | —— | $5.65B-13.3% | |
| Accounts Payable by Business | ||||||
| Eliminations and Other | -$106.9M-45.0% | -$95.1M-8.8% | -$97.2M+62.8% | -$190.1M-76.8% | -$73.7M+59.6% | |
| Financial Services | $400K+100% | $200K+100% | $700K-12.5% | $300K+200% | $200K+100% | |
| Forestar Group | $73.3M+4.7% | $80.1M+1.9% | $71M-17.3% | $67.2M-5.2% | $70M+13.5% | |
| HomeBuildingOps | $1.15B— | $811.6M— | $1.02B-2.8% | —— | —— | |
| Accrued Liabilities by Business | ||||||
| Eliminations and Other | -$423.5M-3.1% | -$465.4M-27.3% | -$404.2M-39.1% | -$497M-73.4% | -$410.7M-46.9% | |
| Financial Services | $414.2M+35.3% | $284.4M+8.2% | $294.7M+25.6% | $367.6M+50.6% | $306.1M+34.4% | |
| Forestar Group | $401.6M-11.6% | $516.3M+11.9% | $494.3M+9.2% | $500.1M+29.9% | $454.4M+26.8% | |
| HomeBuildingOps | $3.04B— | $3.15B— | $3.12B+22.3% | —— | —— | |
| Cash and Cash Equivalent by Business | ||||||
| Eliminations and Other | $31.5M+24.0% | $20.5M+10.2% | $10.4M-15.4% | $34.1M+0.3% | $25.4M+14.9% | |
| Financial Services | $242.4M-9.9% | $228.8M-4.1% | $244.5M+0.9% | $268M-12.3% | $269.1M-14.6% | |
| Forestar Group | $362.2M+108% | $211.7M+60.4% | $379.2M-21.2% | $189.2M-47.3% | $174.3M-58.1% | |
| HomeBuildingOps | $1.14B— | $1.92B— | $2.21B-39.0% | —— | —— | |
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation by Business | ||||||
| Eliminations and Other | $33.4M+229% | -$21.2M-245% | -$46.7M-287% | -$9.7M-706% | -$25.9M-401% | |
| HomeBuildingOps | $121.1M-62.6% | $497.7M-9.8% | —— | —— | $324M-42.1% | |
| Depreciation, Depletion and Amortization by Business | ||||||
| Eliminations and Other | $200K+100% | $300K+50.0% | $300K+50.0% | $0— | $100K-50.0% | |
| Financial Services | $500K0.0% | $500K+25.0% | $400K0.0% | $500K0.0% | $500K+25.0% | |
| Forestar Group | $700K-22.2% | $900K+12.5% | $900K+28.6% | $900K0.0% | $900K+50.0% | |
| HomeBuildingOps | $26.3M+16.4% | $25.6M+15.3% | —— | —— | $22.6M+13.9% | |
| Goodwill by Business | ||||||
| Eliminations and Other | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | $29.2M0.0% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $134.3M— | $134.3M— | $134.3M0.0% | —— | —— | |
| Inventory and land option charges by Business | ||||||
| Eliminations and Other | $0+100% | $200K— | $0— | $0— | -$600K— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $6.3M+600% | $800K-33.3% | $3.3M+6.5% | $1.9M+171% | $900K+350% | |
| HomeBuildingOps | $25.5M-13.3% | $10.2M-13.6% | —— | —— | $29.4M+70.7% | |
| Inventory, Homes under Construction by Business | ||||||
| Eliminations and Other | -$130.8M-17.4% | -$101.8M+4.5% | -$95.2M+13.7% | -$118.1M+3.0% | -$111.4M+19.9% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $8.68B— | $7.37B— | $7.74B-13.8% | —— | —— | |
| Inventory, Land Held for Development and Sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $157M-37.9% | $173.6M-31.3% | $180M+28.5% | $248.9M+83.8% | $252.8M+87.5% | |
| HomeBuildingOps | $38.6M— | $38.4M— | $38.3M+86.8% | —— | —— | |
| Inventory, Real Estate by Business | ||||||
| Eliminations and Other | -$386.3M-27.2% | -$376.3M-28.4% | -$384.7M-29.8% | -$337.2M-21.7% | -$303.8M-1.8% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $2.71B-1.8% | $2.85B+4.2% | $2.65B+16.7% | $2.82B+26.1% | $2.76B+30.4% | |
| HomeBuildingOps | $20.97B— | $20.24B— | $20.32B+1.4% | —— | —— | |
| Inventory, Real Estate, Land and Land Development Costs by Business | ||||||
| Eliminations and Other | -$244.9M-25.3% | -$266.1M-40.1% | -$282.4M-48.9% | -$209.9M-34.8% | -$195.4M-35.4% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $2.55B+1.8% | $2.68B+7.8% | $2.47B+15.9% | $2.57B+22.4% | $2.51B+26.5% | |
| HomeBuildingOps | $12.21B— | $12.8B— | $12.51B+13.6% | —— | —— | |
| Land held for sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $39.1M— | $26.4M— | $21.4M+68.5% | —— | —— | |
| Mortgage loans held for sale by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $2.68B+9.2% | $1.91B+6.4% | $2.57B+3.6% | $2.77B+7.3% | $2.46B-8.1% | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $0— | $0— | $0— | —— | —— | |
| Notes payable by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $1.48B+2.1% | $829M+5.4% | $1.41B-8.2% | $1.7B+0.8% | $1.45B-23.2% | |
| Forestar Group | $793.5M-9.1% | $793.2M-1.7% | $802.8M+13.6% | $872.8M+23.6% | $872.5M+23.6% | |
| HomeBuildingOps | $3.43B— | $3.17B— | $3.15B+7.8% | —— | —— | |
| Property, Plant, and Equipment, after Accumulated Depreciation, Depletion, and Amortization by Business | ||||||
| Eliminations and Other | $23.5M+15.2% | $23.7M+17.9% | $22.9M+23.1% | $21M+15.4% | $20.4M+12.7% | |
| Financial Services | $4.2M+10.5% | $4.1M+5.1% | $4.3M+7.5% | $4M+5.3% | $3.8M-2.6% | |
| Forestar Group | $7.7M+8.5% | $7.8M+14.7% | $8.1M+14.1% | $7.7M+18.5% | $7.1M+16.4% | |
| HomeBuildingOps | $557.1M— | $545.8M— | $543M+8.6% | —— | —— | |
| Rental properties by Business | ||||||
| Eliminations and Other | -$10.6M-453% | -$8.4M-333% | -$7.1M-297% | -$9.2M-3,167% | $3M+120% | |
| Financial Services | $0— | $0— | $0— | $0— | $0— | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $0— | $0— | $0— | —— | —— | |
| Restricted Cash and Cash Equivalent by Business | ||||||
| Eliminations and Other | $0— | $0— | $0— | $0— | $0— | |
| Financial Services | $26.7M+27.1% | $20M+42.9% | $19.9M-3.4% | $24.7M+28.6% | $21M-0.5% | |
| Forestar Group | $0— | $0— | $0— | $0— | $0— | |
| HomeBuildingOps | $26.1M— | $24.1M— | $25.5M+431% | —— | —— | |
| Selling, General and Administrative Expense by Business | ||||||
| Eliminations and Other | $4.7M+11.9% | $4.2M-14.3% | $4.3M-12.2% | $4.5M-6.3% | $4.2M-10.6% | |
| Financial Services | $159.8M-0.3% | $145M-6.0% | $166M-3.4% | $171M-3.9% | $160.3M-6.4% | |
| Forestar Group | $37.9M-1.3% | $36.5M+1.4% | $42.6M+33.1% | $37.4M+27.6% | $38.4M+31.5% | |
| HomeBuildingOps | $648.9M+1.7% | $632.5M-0.6% | —— | —— | $637.8M-0.1% | |
| Total Liabilities by Business | ||||||
| Eliminations and Other | -$606.3M-25.2% | -$560.5M-23.7% | -$501.4M+9.2% | -$687.1M-74.3% | -$484.4M-4.8% | |
| Financial Services | $1.89B+7.9% | $1.11B+6.1% | $1.7B-3.7% | $2.07B+7.1% | $1.75B-17.0% | |
| Forestar Group | $1.35B-3.2% | $1.39B+3.2% | $1.37B+9.9% | $1.44B+23.9% | $1.4B+24.1% | |
| HomeBuildingOps | $7.62B— | $7.12B— | $7.29B+11.8% | —— | —— | |
| Line of Credit Facility, Current Borrowing Capacity by Business | ||||||
| Financial Services | $1.4B-12.5% | $1.4B-12.5% | $1.4B-12.5% | $1.4B-12.5% | $1.6B0.0% | |
| Forestar Group | $715M— | $665M+62.2% | $640M+56.1% | —— | —— | |
| HomeBuildingOps | $3.3B— | $2.31B— | —— | —— | —— | |
| Line of Credit Facility, Maximum Borrowing Capacity by Business | ||||||
| Financial Services | $2B0.0% | $2B0.0% | $2B0.0% | $2B0.0% | $2B0.0% | |
| Forestar Group | $1B— | $1B— | $1B+66.7% | —— | —— | |
| HomeBuildingOps | $4B— | $3B— | —— | —— | —— | |
| Interest Costs Incurred by Business | ||||||
| Financial Services | $4.2M-43.2% | $4.8M-40.7% | $8.1M-43.4% | $10.3M-35.6% | $7.4M-44.8% | |
| Forestar Group | $12.4M+17.0% | $12.5M+50.6% | $13.2M+61.0% | $13.4M+63.4% | $10.6M+29.3% | |
| Authorized Repurchase Of Debt Securities by Business | ||||||
| Forestar Group | $30M— | $30M— | $30M0.0% | —— | —— | |
| HomeBuildingOps | $500M— | $500M— | —— | —— | —— | |
| Borrowings outstanding on revolving credit facility by Business | ||||||
| Forestar Group | $0— | $0— | $0— | —— | —— | |
| HomeBuildingOps | $250M— | $0— | $0— | —— | —— | |
| Debt Instrument, Interest Rate, Stated Percentage by Business | ||||||
| Forestar Group | 6.5%— | 6.5%— | 6.5%+1.5pp | —— | —— | |
| HomeBuildingOps | 5.5%— | 5.5%— | —— | —— | —— | |
| Debt Repurchase Authorization Remaining by Business | ||||||
| Forestar Group | $30M— | $30M— | $30M0.0% | —— | —— | |
| HomeBuildingOps | $500M— | $500M— | —— | —— | —— | |
| Letters of Credit Outstanding, Amount by Business | ||||||
| Forestar Group | $42.9M— | $57.4M— | $51.1M+55.8% | —— | —— | |
| HomeBuildingOps | $219.8M— | $224.4M— | —— | —— | —— | |
| Letters of credit, sublimit borrowing capacity, as a percentage by Business | ||||||
| Forestar Group | 50%— | 50%— | 50%0.0pp | —— | —— | |
| HomeBuildingOps | 100%— | 100%— | —— | —— | —— | |
| Line of Credit Facility, Remaining Borrowing Capacity by Business | ||||||
| Forestar Group | $672.1M— | $607.6M— | $588.9M+56.1% | —— | —— | |
| HomeBuildingOps | $2.83B— | $2.08B— | —— | —— | —— | |
| Number of housing construction markets by Business | ||||||
| Forestar Group | 64-1.5% | 64+3.2% | 64+8.5% | 64+6.7% | 65+14.0% | |
| HomeBuildingOps | 126— | 126— | 126+0.8% | —— | —— | |
| Number of housing construction states by Business | ||||||
| Forestar Group | 2,400%0.0pp | 2,300%-100pp | 2,300%-100pp | 2,300%-100pp | 2,400%+100pp | |
| HomeBuildingOps | 3,600%— | 3,600%— | 3,600%0.0pp | —— | —— | |
| Unamortized Debt Issuance Expense by Business | ||||||
| Forestar Group | $6.5M-18.8% | $6.8M+119% | $7.2M+106% | $7.6M+100% | $8M+90.5% | |
| HomeBuildingOps | $17.2M— | $18.1M— | $18.9M— | —— | —— | |
| Home sales by Product | ||||||
| Financial Services | $192.8M-9.4% | $184.6M+1.3% | $218.2M-1.7% | $227.8M-6.0% | $212.9M-5.6% | |
| HomeBuildingOps | $7.05B-1.9% | $6.51B-8.9% | —— | —— | $7.18B-15.3% | |
| Land | $108M+4.2% | $80.1M+19.7% | $110.1M-24.7% | $56.2M-28.4% | $103.6M+138% | |
| Cost of Product and Service Sold by Product | ||||||
| HomeBuildingOps | $5.57B0.0% | $5.13B-6.2% | —— | —— | $5.56B-13.4% | |
| Land | $75M+33.7% | $59.1M+55.1% | $77.3M-23.7% | $37.9M-25.2% | $56.1M+172% | |
| Revenue by Geography | ||||||
| East | $1.38B+1.6% | $1.25B-4.9% | $1.79B+8.6% | $1.67B-2.4% | $1.36B-5.7% | |
| North | $1.04B+6.4% | $989.5M+5.0% | $1.14B+10.8% | $1.17B+9.8% | $974.3M+13.4% | |
| Northwest | $539.7M-18.3% | $546.7M+2.5% | $793.7M+10.7% | $698.9M-3.6% | $660.4M-11.0% | |
| South Central | $1.51B-1.2% | $1.39B-6.6% | $1.94B-3.4% | $1.94B-3.6% | $1.53B-21.9% | |
| Southwest | $1.04B-2.7% | $894.7M-21.5% | $1.21B-4.5% | $1.18B-10.0% | $1.06B-17.1% | |
| Other Nonoperating Income (Expense) by Geography | ||||||
| East | $2M-28.6% | $3.3M-42.1% | —— | —— | $2.8M-39.1% | |
| North | $1.7M-26.1% | $2.8M-34.9% | —— | —— | $2.3M-40.3% | |
| Northwest | $900K-43.8% | $1.4M-46.2% | —— | —— | $1.6M-39.6% | |
| South Central | $2M-41.2% | $2.9M-59.7% | —— | —— | $3.4M-35.8% | |
| Southwest | $1.8M-35.7% | $2.7M-34.1% | —— | —— | $2.8M-38.5% | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest by Geography | ||||||
| East | 13,480,000,000%-3,700,000,000pp | 12,350,000,000%-7,090,000,000pp | 23,740,000,000%-4,820,000,000pp | 23,040,000,000%-8,450,000,000pp | 17,180,000,000%-8,270,000,000pp | |
| North | 12,260,000,000%-390,000,000pp | 11,990,000,000%-990,000,000pp | 15,530,000,000%+1,160,000,000pp | 17,200,000,000%+1,810,000,000pp | 12,650,000,000%+1,180,000,000pp | |
| Northwest | 5,460,000,000%-3,910,000,000pp | 5,930,000,000%-1,690,000,000pp | 10,940,000,000%-1,140,000,000pp | 11,640,000,000%-480,000,000pp | 9,370,000,000%-1,560,000,000pp | |
| South Central | 16,630,000,000%-4,210,000,000pp | 17,340,000,000%-4,790,000,000pp | 24,470,000,000%-9,980,000,000pp | 29,020,000,000%-7,850,000,000pp | 20,840,000,000%-13,820,000,000pp | |
| Southwest | 11,420,000,000%-910,000,000pp | 8,860,000,000%-7,980,000,000pp | 7,270,000,000%-11,550,000,000pp | 15,270,000,000%-5,670,000,000pp | 12,330,000,000%-4,770,000,000pp | |
| Cost of Sales by Geography | ||||||
| East | $1.12B+4.9% | $999.3M-0.1% | —— | —— | $1.06B-6.4% | |
| North | $819.8M+8.3% | $780.2M+6.8% | —— | —— | $757.2M+4.9% | |
| Northwest | $432.3M-15.4% | $436.4M+7.2% | —— | —— | $511.1M-4.5% | |
| South Central | $1.21B+1.0% | $1.09B-4.8% | —— | —— | $1.2B-17.2% | |
| Southwest | $834.7M-1.9% | $725.1M-18.0% | —— | —— | $851.1M-12.2% | |
| Inventory, Real Estate by Geography | ||||||
| Corporate, Non-Segment | $359.3M+23.6% | $342.6M+20.8% | $327.2M+19.0% | $308.1M+16.6% | $290.7M+12.5% | |
| East | $4.6B+2.9% | $4.46B+4.0% | $4.4B+10.5% | $4.6B+20.3% | $4.47B+24.3% | |
| North | $2.78B+5.2% | $2.69B-0.1% | $2.64B+3.4% | $2.64B+6.1% | $2.65B+11.9% | |
| Northwest | $1.95B+0.5% | $1.88B-3.6% | $1.89B-2.2% | $1.93B-2.4% | $1.94B-1.7% | |
| South Central | $4.03B-1.2% | $3.83B-2.3% | $3.93B+5.5% | $4.21B+1.9% | $4.08B-0.1% | |
| Southwest | $3.06B-4.5% | $3.04B-4.6% | $3.07B-6.4% | $3.23B-2.7% | $3.2B-2.3% | |
| Inventory and land option charges by Geography | ||||||
| East | $1.9M-76.3% | $4.8M+77.8% | —— | —— | $8M+169% | |
| North | $1.2M0.0% | $1M-33.3% | —— | —— | $1.2M-52.5% | |
| Northwest | $500K-80.8% | $100K-75.0% | —— | —— | $2.6M+136% | |
| South Central | $14.1M+220% | $1.7M+41.7% | —— | —— | $4.4M+54.4% | |
| Southwest | $3.4M-42.4% | $700K+75.0% | —— | —— | $5.9M+85.8% | |
| Selling, General and Administrative Expense by Geography | ||||||
| East | $132.8M+4.6% | $131M+4.7% | —— | —— | $127M+4.8% | |
| North | $95.5M+2.8% | $92.2M+6.6% | —— | —— | $92.9M+19.1% | |
| Northwest | $53.7M-6.1% | $52.4M-0.2% | —— | —— | $57.2M+8.4% | |
| South Central | $137.4M+7.2% | $133.3M+0.8% | —— | —— | $128.2M-7.9% | |
| Southwest | $88.1M-4.3% | $83.7M-8.0% | —— | —— | $92.1M+4.0% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does D.R. Horton break its business down?
- D.R. Horton (DHI) reports revenue by business across 4 parts — Eliminations and Other, Financial Services, Forestar Group and HomeBuildingOps. Each is extracted from the segment footnotes and tracked over time.
- Where does D.R. Horton's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in D.R. Horton's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
