HORTON D R INC /DE/

Overview

D.R. Horton is a U.S. residential construction company that acquires and develops land and builds and sells homes. Its businesses include homebuilding, rental operations, residential lot development through Forestar, and financial services. The company describes its mission in terms of delivering quality and affordability and says it built its first home in 1978.[1]+2

The company’s footprint is concentrated in the United States: its Q3 FY2026 filing reported homebuilding operations in 126 markets across 36 states. For FY2025, D.R. Horton reported consolidated revenue of $34.25 billion and 14,341 employees as of September 30, 2025.[1]+2 [1]+4

Products & services

D.R. Horton sells detached single-family homes and attached homes, including townhomes and duplexes. Its homes generally range from 1,000 to 4,000 square feet and from $250,000 to over $1 million. The company markets the Tradition, Express, Emerald and Freedom home series, positioned around value, entry-level ownership, elevated design and luxury, and active-adult, low-maintenance living, respectively; availability and designs vary by market.[6][7] In fiscal 2025, detached homes accounted for about 84% of home-sales revenue, and homebuilding generated 92% of consolidated revenue.[6]

The company also develops single-family rental communities and multifamily rental properties, primarily garden-style apartments in high-growth suburbs; these properties may be leased and later sold.[2] Through DHI Mortgage, it provides mortgage-financing services to homebuyers, coordinating applications, mortgage commitments and closings; DHI Mortgage financed 81% of homebuilding closings in fiscal 2025.[8] The company’s approximately 62%-owned Forestar business develops residential lots, including lots sold to D.R. Horton for home construction.[9] Fiscal 2025 is the latest full fiscal year covered by the available reports; the latest reported period is the first nine months of fiscal 2026. The filings do not provide revenue shares by home series or detailed technical specifications.[6] [6]+4

Geographic presence

D.R. Horton operated in 126 markets across 36 states as of June 30, 2026. Its disclosed markets include Phoenix, Houston, Atlanta and Pittsburgh.[1]+2 For the nine months ended June 30, 2026, homebuilding revenue by reporting region was: Southeast $4,935.9 million (22.2%); South Central $4,868.7 million (21.9%); East $4,387.3 million (19.7%); North $3,246.2 million (14.6%); Southwest $3,101.5 million (13.9%); and Northwest $1,738.7 million (7.8%). Shares are calculated from the reported regional amounts and homebuilding revenue total.[12]

These figures reflect homebuilding reporting regions; the available disclosures do not provide a separate country-level revenue breakdown or geographic employee distribution. The company’s principal executive offices are in Arlington, Texas, and it typically maintains sales offices in furnished model homes at its subdivisions.[12]+2 [1]+5

Business segments

For FY2025, D.R. Horton disclosed four principal business segments: Homebuilding, Rental, Forestar, and Financial Services. Homebuilding covers land acquisition and development, construction and sale of homes, and some land and lot sales; its products serve entry-level through luxury buyers. Rental develops and leases single-family and multifamily rental properties, with communities or properties also marketed for sale. Forestar develops residential lots, including lots supplied to D.R. Horton homebuilding divisions. Financial Services provides mortgage financing and title-agency services to homebuyers.[15]+4

Using each segment’s FY2025 revenue divided by consolidated revenue of $34,250.4 million, approximate contributions were Homebuilding $31,515.5 million (92.0%), Rental $1,640.4 million (4.8%), Forestar $1,662.4 million (4.9%), and Financial Services $841.2 million (2.5%). These gross segment-revenue percentages exceed 100% in aggregate because the company reported $1,409.1 million of eliminations and other items.[4] Homebuilding is also disaggregated geographically into Northwest, Southwest, South Central, Southeast, East, and North; these are regional reporting segments within Homebuilding, not additional principal business lines.[20] [15]+11

Company history

D.R. Horton traces its homebuilding origins to 1978, when founder Donald R. Horton built the company’s first home in Fort Worth, Texas. The corporate entity was formed in July 1991, and its common stock began public trading in 1992.[21][22]

The company expanded through mergers and acquisitions, including the 1998 merger with Continental Homes and the 2002 merger with Schuler Homes, which broadened its geographic reach. Later acquisitions added regional homebuilding operations, while its 2017 acquisition of a majority interest in Forestar expanded its land-development business.[23]+2

In 2023, D.R. Horton reported closing its one-millionth home in its 45-year history. Paul J. Romanowski became president and CEO that October, succeeding David V. Auld, who became executive vice chairman. Following Donald R. Horton’s death in May 2024, Auld was appointed executive chairman.[26][21] [21]+5

Sources

• HORTON D R INC /DE/ — Full financial report (2026 Q 3)
  4 citations

  [1][10][11][12]
• HORTON D R INC /DE/ — Full financial report (2025 Y)
  13 citations

  [2][4][6][8][9][13][14][15][16][17][18][19][20]
• www.drhorton.com[3]
• investor.drhorton.com[5]
• www.drhorton.com[7]
• investor.drhorton.com[21]
• investor.drhorton.com[22]
• investor.drhorton.com[23]
• investor.drhorton.com[24]
• investor.drhorton.com[25]
• investor.drhorton.com[26]