D.R. Horton
Homebuilding · United States
D.R. Horton is America’s largest homebuilder by homes closed, building mostly entry-level and first move-up houses in 126 markets, financing most buyers through its own mortgage arm and also building rental homes and developing lots through Forestar.
What makes it different
Three in four of its lots are only optioned.
75%Lots held through optionsas of 2025-09-30
Buying land through purchase contracts keeps capital light and lets it walk away if demand drops.
How big it is
How big is D.R. Horton?
$34.3BRevenuesFY2025
84,863Homes closedFY2025
14,341Employees2025
How it makes money FY2025
Almost all from selling new homes.
- Home sales92%$31.4B
- Rental property sales5%$1.6B
- Mortgage and title3%$841M
- Land and lot sales1%$337M
How the business works
Option land, build fast, finance buyers.
- 1Lots through purchase options
- 2Affordable homes before buyers sign
- 3Buyers via DHI Mortgage
Holding most land through options and building ahead of sales lets it sell quickly when rates move.
Who owns it
- The Vanguard Group11.97%
- Capital World Investors10.46%
- BlackRock, Inc.9.76%
CEO: Paul J. Romanowski
Who it competes with
LLennarPPulteGroupNNVRTToll BrothersTTaylor Morrison
Key moments
- 1978Donald R. Horton builds his first home
- 1992Shares go public
- 1998Merger with Continental Homes
- 2002Merger with Schuler Homes
- 2017Acquires 75% of Forestar
Sources
Every number on this page comes from D.R. Horton's own reports.
Full profile
The rest of the story is in the app.
What D.R. Horton tracks17 metrics
Homes closed
Homes in backlog
Lots owned and controlled
Results, quarter by quarterwith a chart
Revenue
Profit
Margin
Where the money comes from6 regions
Southeast
South Central
East
The full timeline15 moments
2019
2025
2026
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