D.R. Horton, Inc. (DHI) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.417 five, and 10-year periods, demonstrating that our disciplined, returns-focused 00:00:05.417 -- 00:00:10.483 operating model produces sustainable results and positions us well for continued 00:00:10.483 -- 00:00:12.545 value creation. 00:00:12.545 -- 00:00:17.631 We remain focused on capital efficiency to generate strong operating cash flows and 00:00:17.631 -- 00:00:20.855 deliver compelling returns to our shareholders. 00:00:20.855 -- 00:00:25.861 In fiscal 2025, we generated $3.4 billion of cash 00:00:25.861 -- 00:00:31.505 from operations after making home building investments in lots, land and development 00:00:31.505 -- 00:00:36.831 totaling $8.5 billion. We leveraged our strong cash flow and financial 00:00:36.831 -- 00:00:42.096 position to return $4.8 billion to shareholders through repurchases 00:00:42.096 -- 00:00:47.701 and dividends. Over the past five years, we've generated $11 billion of operating 00:00:47.701 -- 00:00:51.465 cash flow and returned all of it to shareholders. 00:00:51.465 -- 00:00:56.590 Over the same timeframe, we grew consolidated revenues at an 11% compound 00:00:56.590 -- 00:01:02.195 annual rate, reflecting consistent efficient execution, and disciplined, 00:01:02.195 -- 00:01:07.380 balanced capital allocation. We strive to offer our customers an attractive value 00:01:07.380 -- 00:01:11.844 proposition by providing quality homes at affordable price points. 00:01:11.844 -- 00:01:16.749 We will continue to tailor our product offerings, sales incentives, and number of homes 00:01:16.749 -- 00:01:21.914 and inventory based on demand in each of our markets to maximize returns. 00:01:21.914 -- 00:01:25.698 Mike? Net income for the quarter was $905.3 00:01:25.698 -- 00:01:27.720 million, or $3.04 00:01...