D. R. Horton is an American construction company, based in Forth Worth, Texas, that focuses on building residential houses.
It is one of the nation’s leading house builders (in terms of units built per year). In the twelve month period ended March 31, 2014, the company closed 25,712 homes.
The company’s signature slogan is “America’s Builder”.
D. R. Horton builds a variety of different styles of homes, with sales prices ranging from $100,000 to over $1,000,000, sold under the names of D.R. Horton, America’s Builder, Emerald Homes and Breland Homes.
The company partners with real estate brokers to sell its homes in 79 metropolitan markets across 27 states in the East, Southeast, South Central, Southwest, West, and Midwest regions of the US.
Its homebuilding business is the most substantial part of D. R. Horton’s business – accounting for approximately 97% of consolidated revenues. However, the company also has other business focuses.
In addition to its construction business, D. R. Horton also offers mortgage financing services for homebuyers through DHI Mortgage – a 100% owned subsidiary.
D. R. Horton has been in the homebuilding business since 1978. The company was incorporated in the state of Delaware in 1991 and went public on the New York Stock Exchange (NYSE) a year later.
Overview
- President and CEO: Donald J. Tomnitz,
- Chairman: Donald R. Horton
- CFO: Bill W. Wheat
- Type: Public
- Industry: Construction
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: DHI
- S&P 500 Component
- Revenue: $6.259 billion USD (2013)
- Net income: $462.7 million USD (2013)
- Diluted earnings per share: $1.33 USD (2013)
- Founded: 1978
- Employees: 4,609 (2013)
- Corporate headquarters: 301 Commerce Street, Suite 500, Fort Worth, Texas, USA
- Corporate contact number: (817) 390-8200
- Investor relations email address: [email protected]
- Website: http://www.drhorton.com/
| Operating data (in $ millions) | 2013 | 2012 |
| Home sales | $6,024.8 | $4,218.4 |
| Land/lot sales and other | $61.1 | $17.8 |
| Financial services revenues | $173.4 | $117.8 |
| Net revenue | $6,259.3 | $4354.0 |
| Income before income taxes | $657.8 | $242.9 |
| Income tax expense (benefit) | $195.1 | $(713.4) |
| Net income | $462.7 | $956.3 |
| Comprehensive income | $464.4 | $956.4 |
| Balance sheet data (in $ millions) | ||
| Total assets | $8,856.4 | $7,248.2 |
| Total liabilities | $4,795.0 | $3,653.5 |
| Total stockholders’ equity | $4,058.5 | $3,592.1 |
| Cash flow data (in $ millions) | ||
| Net cash used in operating activities | $(1,231.1) | $(293.4) |
| Net cash provided by (used in) investing activities | $180.9 | $(143.0) |
| Net cash provided by financing activities | $939.0 | $751.5 |
| Cash and cash equivalents at end of year | $936.5 | $1,047.7 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $1.44 | $3.01 |
| Diluted earnings (loss) per common share | $1.33 | $2.77 |
Source: “D. R. Horton 2013 FORM 10-K Annual Report”