D.R. Horton, Inc. (DHI)
NYSE: DHI · Real-Time Price · USD
152.28
-5.35 (-3.39%)
At close: Nov 6, 2026, 4:00 PM EST
152.65
+0.37 (0.24%)
After-hours: Nov 6, 2026, 7:30 PM EST
D.R. Horton Cash Flow Statement
Financials in millions USD. Fiscal year is October - September.
Millions USD. Fiscal year is Oct - Sep.
Operating Activities
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 741.8 | 904.9 | 647.9 | 594.8 | 905.3 | 1,025 | 810.4 | 844.9 | 1,283 | 1,354 | 1,172 | 947.4 | 1,510 | 1,335 | 942.2 | 958.7 | 1,632 | 1,648 | 1,436 | 1,142 |
Depreciation & Amortization | 31.7 | 29 | 28.1 | 27.7 | 27.4 | 25.2 | 24.6 | 24.1 | 23.6 | 22.4 | 21.1 | 20 | 21.4 | 23.7 | 26.7 | 19.8 | 21.2 | 20.9 | 19.9 | 19.4 |
Asset Writedown & Restructuring Costs | -6.7 | 3.7 | 3 | - | 8.5 | 15.9 | 8.6 | - | 8.4 | - | 5.6 | - | 5 | - | 9.2 | 4.8 | - | - | 3.8 | - |
Stock-Based Compensation | 26.5 | 31.5 | 34.6 | 41.4 | 29.9 | 25.9 | 32.2 | 43 | 25.4 | 26.8 | 25 | 40.9 | 30.6 | 29.3 | 28.4 | 22.9 | 25.7 | 24.8 | 30.9 | 23.7 |
Other Operating Activities | 214.5 | 66.8 | 72.9 | 37.3 | 82.3 | 54.9 | 83.1 | 63.7 | 41.5 | 38.1 | 28.1 | 25.7 | -36.3 | 18.1 | 47.6 | 35.5 | 71 | 12.8 | 23.3 | 26.7 |
Change in Inventory | 1,532 | -400.9 | -716 | -270.9 | 1,398 | -282.9 | -426.8 | -1,148 | 601 | -783.7 | -806.4 | -1,661 | 599.7 | -295.5 | -146.8 | -673.8 | 13.6 | -1,877 | -1,658 | -1,664 |
Change in Accounts Payable | -21.3 | 196.7 | 335.3 | -254.1 | -69 | 201.3 | -119.6 | 71 | 54 | 129.6 | -291.5 | 127.5 | 236.7 | 64.9 | 68.9 | -472.3 | -0.9 | 442.7 | 287.5 | 306.2 |
Change in Other Net Operating Assets | 108.4 | -392.4 | -818.3 | 677.8 | 89.5 | -326.3 | -848.7 | 748.3 | -75.7 | -88.4 | -470.7 | 345.8 | -323.8 | -388.1 | -331.7 | 933.5 | -637.8 | -0.3 | -804.4 | -27.8 |
Operating Cash Flow | 2,626 | 439.3 | -412.5 | 854 | 2,472 | 738.6 | -436.2 | 646.7 | 1,962 | 698.3 | -316.7 | -153.4 | 2,043 | 787.5 | 644.5 | 829.1 | 1,125 | 271.8 | -660.5 | -174.1 |
Operating Cash Flow Growth (YoY) | 6.25% | -40.52% | - | 32.05% | 26.01% | 5.77% | - | - | -3.98% | -11.33% | - | - | 81.66% | 189.74% | - | - | 97.68% | 125.75% | - | - |
Investing Activities
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -53.8 | -42 | -37.2 | -27.4 | -43.8 | -46 | -34.3 | -13.3 | -32 | -62 | -23.7 | -47.6 | -40.3 | -29.1 | -31.7 | -47.5 | -40.2 | -35.5 | -41.6 | -30.9 |
Sale of Property, Plant & Equipment | - | - | - | - | 4.5 | 18.4 | - | - | 4.5 | 5 | - | 9.9 | 52 | - | - | - | - | - | - | - |
Cash Acquisitions | -36.2 | - | -5.8 | -82.1 | - | - | -2.1 | -51 | -2.5 | -36.9 | - | -1 | -10.9 | -98.5 | -6.4 | -97.1 | - | -271.5 | - | - |
Other Investing Activities | -8.3 | -11.1 | -1.2 | -6.7 | -5.9 | -1.4 | -1 | 7.2 | 0.5 | -1.2 | -3 | -0.6 | -2.5 | -0.3 | 0.4 | 1.7 | -1.8 | 2.8 | -0.6 | 4.4 |
Investing Cash Flow | -98.3 | -53.1 | -44.2 | -116.2 | -45.2 | -29 | -37.4 | -57.1 | -29.5 | -95.1 | -26.7 | -39.3 | -1.7 | -127.9 | -37.7 | -142.9 | -42 | -304.2 | -42.2 | -26.5 |
Financing Activities
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | - | - | 305 | - | - | - | 660 | - | - | - | 720 | - | - | - | 300 | - | - | - | - |
Total Debt Issued | 1,524 | 2,435 | 1,160 | 305 | 89.6 | 960.4 | 1,562 | 660 | 794.5 | 92.4 | 479.4 | 720 | 120 | 67.3 | 275 | 300 | 1,749 | 1,791 | 834.3 | - |
Long-Term Debt Repaid | - | - | - | -734.2 | - | - | - | -1,502 | - | - | - | -559.9 | - | - | - | -704.4 | - | - | - | -235.2 |
Total Debt Repaid | -2,625 | -1,898 | -157.6 | -734.2 | -1,377 | -238.6 | -150.2 | -1,502 | -551.2 | -240.4 | 159.9 | -559.9 | -1,149 | 38 | -9 | -704.4 | -1,661 | -1,389 | -515.6 | -235.2 |
Net Debt Issued (Repaid) | -1,101 | 536.9 | 1,002 | -429.2 | -1,288 | 721.8 | 1,412 | -842.3 | 243.3 | -148 | 639.3 | 160.1 | -1,029 | 105.3 | 266 | -404.4 | 87.6 | 401.4 | 318.7 | -235.2 |
Issuance of Common Stock | 9.4 | - | 8.9 | - | 10 | - | 8.5 | - | 8.4 | - | 10.6 | 1.6 | 6.8 | 5.8 | 7.4 | 5.5 | 6.3 | 4.7 | 5 | 17.2 |
Repurchase of Common Stock | -1,315 | -610.4 | -975.3 | -678.9 | -705.3 | -1,169 | -1,388 | -1,083 | -558.2 | -437.1 | -461.7 | -414.4 | -419.1 | -339.9 | -331.8 | -143.8 | -272 | -290 | -294.7 | -336.8 |
Common Dividends Paid | -125 | -127.1 | -129.7 | -131.5 | -118.4 | -122.4 | -125.5 | -128.5 | -97.7 | -98.4 | -99.2 | -99.9 | -84.3 | -85.2 | -85.6 | -86.1 | -78.1 | -79.2 | -79.1 | -80.1 |
Other Financing Activities | -16.2 | -24.9 | -28.3 | 21.5 | 43.1 | 7 | 15.9 | -10.5 | -3.9 | 6.9 | 3.2 | -10.2 | -24.1 | -12.2 | -0.7 | -17.8 | 62.2 | -9.3 | -22.7 | 62.9 |
Financing Cash Flow | -2,548 | -225.5 | -122.1 | -1,218 | -2,058 | -562.8 | -77.3 | -2,065 | -408.1 | -676.6 | 92.2 | -362.8 | -1,549 | -326.2 | -144.7 | -646.6 | -194 | 27.6 | -72.8 | -572 |
Net Cash Flow
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Net Cash Flow | -19.5 | 160.7 | -578.8 | -480.3 | 368.4 | 146.8 | -550.9 | -1,475 | 1,524 | -73.4 | -251.2 | -555.5 | 492.1 | 333.4 | 462.1 | 39.6 | 888.6 | -4.8 | -775.5 | -772.6 |
Free Cash Flow
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 2,573 | 397.3 | -449.7 | 826.6 | 2,428 | 692.6 | -470.5 | 633.4 | 1,930 | 636.3 | -340.4 | -201 | 2,003 | 758.4 | 612.8 | 781.6 | 1,084 | 236.3 | -702.1 | -205 |
Free Cash Flow Growth (YoY) | 5.96% | -42.64% | - | 30.50% | 25.83% | 8.85% | - | - | -3.65% | -16.10% | - | - | 84.68% | 220.95% | - | - | 107.98% | 125.26% | - | - |
Free Cash Flow Margin | 27.45% | 4.31% | -5.95% | 12.00% | 25.09% | 7.51% | -6.08% | 8.32% | 19.29% | 6.39% | -3.74% | -2.60% | 19.07% | 7.80% | 7.69% | 10.77% | 11.25% | 2.69% | -8.78% | -2.91% |
Free Cash Flow Per Share | 9.26 | 1.40 | -1.56 | 2.82 | 8.16 | 2.27 | -1.50 | 1.96 | 5.90 | 1.93 | -1.02 | -0.60 | 5.90 | 2.22 | 1.78 | 2.25 | 3.10 | 0.67 | -1.97 | -0.57 |
Levered Free Cash Flow | 7,409 | 524.63 | -138.75 | 112 | 1,910 | 987.45 | -3,561 | 2,832 | 1,516 | 494.33 | -66.66 | -1,026 | 1,922 | 408.85 | 612.98 | 183.59 | 548.61 | -227.39 | -789.41 | -775.21 |
Unlevered Free Cash Flow | 7,409 | 524.63 | -138.75 | 112 | 1,910 | 987.45 | -3,561 | 2,832 | 1,516 | 494.33 | -66.66 | -1,026 | 1,922 | 408.85 | 612.98 | 183.59 | 548.61 | -227.39 | -789.41 | -775.21 |
Additional Metrics
Fiscal Quarter | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Income Tax Paid | 869.4 | - | - | - | 1,021 | - | - | - | 1,670 | - | - | - | 1,442 | - | - | - | 1,701 | - | - | - |
Change in Working Capital | 1,619 | -596.6 | -1,199 | 152.8 | 1,418 | -407.9 | -1,395 | -329 | 579.3 | -742.5 | -1,569 | -1,187 | 512.6 | -618.7 | -409.6 | -212.6 | -625.1 | -1,435 | -2,175 | -1,386 |