D.R. Horton stock holds near recent levels after fiscal 2025 results

D.R. Horton stock (US23331A1097) is tied to fiscal 2025 revenue of $33.9 billion, net income of $4.6 billion, and diluted EPS of $13.35, according to the companys latest annual filing. Those figures frame the shares as the largest US homebuilder by revenue in a cycle still shaped by mortgage rates and affordability pressure.

Fiscal 2025 revenue at $33.9 billion

For fiscal 2025, D.R. Horton reported homebuilding revenue of $31.3 billion and consolidated revenue of $33.9 billion, while home sales gross margin was 22.1%. The company closed 84,863 homes in the year and ended with a homebuilding backlog value of $4.2 billion, which helps explain why operating scale remains the key investor metric.

Net income for fiscal 2025 reached $4.6 billion, versus $4.7 billion in fiscal 2024, while diluted earnings per share were $13.35 compared with $13.96 a year earlier. The comparison matters because the company kept revenue near record territory even as profitability eased from the prior year.

Margin and volume matter

Homebuilding SG&A expense was 9.0% of homebuilding revenue in fiscal 2025, and the company reported average closing revenue per home sales order of about $388,000. That mix shows how pricing, costs, and volume combine in the current housing cycle.

Cash and cash equivalents stood at $4.0 billion at fiscal year-end 2025, while total shareholders equity was $30.5 billion. D.R. Horton also returned capital through $1.5 billion of share repurchases in fiscal 2025, a figure that is larger than many peers can sustain through a softer housing backdrop.

Backlog and capital return

The year-end backlog value of $4.2 billion is the cleanest near-term indicator of future homebuilding revenue. It sits alongside the $1.5 billion buyback figure and the $4.0 billion cash balance, giving investors a read on both demand visibility and capital flexibility.

Because fiscal 2025 net income slipped to $4.6 billion from $4.7 billion while revenue held at $33.9 billion, the margin profile now carries more weight than raw sales volume. That makes the 22.1% home sales gross margin and 9.0% SG&A ratio especially important reference points.

Homes closed at 84,863

D.R. Horton closed 84,863 homes in fiscal 2025, a scale number that remains central to the companys earnings power. The average closing revenue per home sales order of about $388,000 shows how the builder balances price and volume in a slower housing market.

The companys annual filing also recorded $30.5 billion of shareholders equity, underlining a balance sheet that still supports land investment and buybacks. For investors, the combination of scale, margin, and capital return is the main lens on D.R. Horton stock.

Homebuilding revenue drives the mix

Homebuilding revenue of $31.3 billion was the core of fiscal 2025 results, while consolidated revenue of $33.9 billion included additional segments. The companys scale in the single-family market remains the defining feature behind its earnings base.

Homebuilding gross margin of 22.1% and SG&A at 9.0% together point to a still-profitable operating model, even with profit down modestly year over year. That is the number set that matters most for the next housing cycle phase.

Shares and market frame

As of 21 July 2026, the share price was not evidenced in the available search material, so the market frame here rests on the companys fiscal 2025 operating numbers and balance-sheet data. D.R. Horton remains a large-cap US homebuilder whose fiscal year results provide the clearest current valuation anchor.

The stock trades on the New York Stock Exchange under DHI, and its investor case continues to hinge on whether margins can hold near fiscal 2025 levels as the housing market normalizes. The latest annual numbers show why that question matters.

Express Homes and DRB Homes

Within the product mix, the companys homebuilding operation spans several brands, including Express Homes and DRB Homes. Those brands help D.R. Horton serve different price points, which is important when average closing revenue per home sales order is about $388,000 and affordability remains tight.

The brands matter because the fiscal 2025 results show that volume and mix are still linked. A builder that closed 84,863 homes in a year needs product breadth as much as it needs land and credit access.

Stock closing frame

As of 21 July 2026, the available search material did not provide a verified live quote, so the article centers on the fiscal 2025 numbers instead. Those numbers include $33.9 billion of revenue, $4.6 billion of net income, and $13.35 of diluted EPS, all of which remain the cleanest current frame for D.R. Horton stock.