HORTON D R INC

D.R. Horton, Inc. (NYSE: DHI, NYSE Texas) is the largest homebuilding company in the United States as measured by number of homes closed. The company operates through its website at www.drhorton.com and maintains principal executive offices in Arlington, Texas. D.R. Horton was founded in 1978 and has been publicly traded since 1992, having closed more than 1.2 million homes throughout its 47-year history.

The company's core business is homebuilding, which generates approximately 92 percent of consolidated revenues. D.R. Horton constructs and sells homes through 92 separate operating divisions across 126 markets in 36 states, providing significant geographic diversification. The company's product offerings span entry-level, move-up, active adult, and luxury segments, with homes ranging from 1,000 to 4,000 square feet and priced from $250,000 to more than $1,000,000. Approximately 84 percent of home sales revenue comes from single-family detached homes, with the remainder from attached homes such as townhomes and duplexes.

Beyond homebuilding, D.R. Horton operates through five additional reportable segments. The rental segment includes single-family and multi-family rental operations. The company owns approximately 62 percent of Forestar Group Inc., a publicly traded residential lot development company that operates across 64 markets in 23 states and serves as a key component of the company's land strategy. Financial services operations include DHI Mortgage, a wholly owned subsidiary providing mortgage financing and servicing, and title companies offering title insurance and closing services. Other operations include insurance-related activities, water rights ownership, and non-residential real estate holdings.

As of September 30, 2025, D.R. Horton employed 14,341 people across its operations. The company's decentralized operating structure empowers local division management to make market-specific decisions while maintaining centralized controls over key risk elements, capital allocation, and financial oversight. This operational model, combined with the company's national scale, provides economies of scale including greater access to capital, volume discounts from suppliers, and enhanced leverage of administrative functions. The company's competitive advantages include its geographic diversification, established relationships with municipalities and subcontractors, and integrated financial services capabilities that support homebuyers throughout the transaction process.