D.r. Horton, Inc. · NYSE:DHI
D.r. Horton — Q4 2025 Earnings Presentation
7 slides from D.r. Horton's earnings presentation, 2025
Slide 1: Homebuilding Return On Inventory
Homebuilding Return On Inventory $ in millions Quarter Ended: 09/30/23 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Homebuilding Pre-Tax Income (PTI) $ 1,639.7 $ 1,096.1 $ 1,357.6 $ 1,572.2 $ 1,429.2 $ 1,012.9 $ 935.0 $ 1,186.3 $ 1,000.7 Homebuilding Inventory 18,155.8 19,
Slide 2: Return On Equity
Return On Equity $ in millions Quarter Ended: 09/30/23 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Net Income Attributable to D.R. Horton $ 1,509.7 $ 947.4 $ 1,172.1 $ 1,353.6 $ 1,283.4 $ 844.9 $ 810.4 $ 1,024.6 $ 905.3 Stockholders' Equity 22,696.2 23,153.4 23,815.5 24,6
Slide 3: Return On Assets
Return On Assets $ in millions Quarter Ended: 09/30/23 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Net Income Attributable to D.R. Horton $ 1,509.7 $ 947.4 $ 1,172.1 $ 1,353.6 $ 1,283.4 $ 844.9 $ 810.4 $ 1,024.6 $ 905.3 Consolidated Assets 32,582.4 33,381.6 34,398.2 35,15
Slide 4: Home Sales Gross Margin
Home Sales Gross Margin $ in millions Quarter Ended: Fiscal Year Ended: 09/30/23 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 09/30/24 09/30/25 Home Sales Revenues $ 8,779.0 $ 7,276.4 $ 8,466.7 $ 9,231.2 $ 8,929.4 $ 7,146.0 $ 7,180.9 $ 8,561.0 $ 8,544.0 $ 33,903.6 $ 31,432
Slide 5: Sales and Active Selling Communities
Sales and Active Selling Communities CHANGE IN NET SALES ORDERS COMPARED TO CHANGE IN AVERAGE ACTIVE SELLING COMMUNITIES (ASCs)(1) Quarter Ended 12/31/2024 Quarter Ended 3/31/2025 Quarter Ended 6/30/2025 Quarter Ended 9/30/2025 YOY Change SEQ Change YOY Change SEQ Change YOY Change SEQ Change YOY Ch
Slide 6: Price Stratification
Price Stratification Selling Price in thousands; Home Sales Revenues in millions Homes Closed and Home Sales Revenues Quarter Ended: Fiscal Year Ended: December 31, 2024 March 31, 2025 June 30, 2025 September 30, 2025 September 30, 2025 Home Sales Home Sales Home Sales Home Sales Homes Closed Homes
Slide 7: Select DHI Mortgage Data
Select DHI Mortgage Data Loan Type / Product Mix (%) Capture Avg CLTV Avg FICO FHA/VA Period FTHB %(2) Conventional FHA VA USDA/ RHS Total Rate(1) %(3) Score Combined FY 25 81% 63% 90% 722 34% 46% 18% 64% 2% 100% Q4 25 82% 63% 90% 722 34% 46% 18% 64% 2% 100% Q3 25 81% 64% 90% 720 31% 49% 18% 67% 2%