Financials DR Horton

Equities

DHI

US23331A1097

Homebuilding

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
145.3 USD +0.78% Intraday chart for DR Horton +2.21% -4.38%

Valuation

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,493 27,507 30,078 23,403 36,357 47,859 - -
Enterprise Value (EV) 1 21,379 28,772 32,280 26,929 37,578 49,221 48,765 49,124
P/E ratio 12.3 x 11.8 x 7.36 x 4.08 x 7.78 x 10.2 x 9.35 x 8.38 x
Yield 1.14% 0.93% 0.95% 1.37% 0.95% 0.83% 0.89% 0.98%
Capitalization / Revenue 1.11 x 1.35 x 1.08 x 0.7 x 1.03 x 1.3 x 1.21 x 1.13 x
EV / Revenue 1.22 x 1.42 x 1.16 x 0.8 x 1.06 x 1.33 x 1.24 x 1.16 x
EV / EBITDA 9.73 x 9.39 x 6.19 x 3.71 x 6.85 x 7.68 x 7.1 x 6.68 x
EV / FCF 23.5 x 25.4 x 121 x 65.1 x 9.04 x 16.7 x 15.2 x 13.3 x
FCF Yield 4.25% 3.94% 0.83% 1.54% 11.1% 5.97% 6.59% 7.55%
Price to Book 1.94 x 2.32 x 2.01 x 1.19 x 1.59 x 1.89 x 1.61 x 1.43 x
Nbr of stocks (in thousands) 369,820 363,703 358,194 347,481 338,297 329,312 - -
Reference price 2 52.71 75.63 83.97 67.35 107.5 145.3 145.3 145.3
Announcement Date 11/12/19 11/10/20 11/9/21 11/9/22 11/7/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 17,593 20,311 27,774 33,480 35,460 36,926 39,414 42,456
EBITDA 1 2,197 3,063 5,212 7,253 5,486 6,407 6,866 7,353
EBIT 1 1,911 2,653 4,802 6,924 5,188 5,490 5,782 -
Operating Margin 10.86% 13.06% 17.29% 20.68% 14.63% 14.87% 14.67% -
Earnings before Tax (EBT) 1 2,125 2,983 5,356 7,630 6,315 6,223 6,679 7,175
Net income 1 1,618 2,374 4,176 5,858 4,746 4,719 4,999 5,405
Net margin 9.2% 11.69% 15.03% 17.5% 13.38% 12.78% 12.68% 12.73%
EPS 2 4.290 6.410 11.41 16.51 13.82 14.21 15.55 17.34
Free Cash Flow 1 908.7 1,135 267 413.6 4,156 2,939 3,211 3,707
FCF margin 5.17% 5.59% 0.96% 1.24% 11.72% 7.96% 8.15% 8.73%
FCF Conversion (EBITDA) 41.36% 37.04% 5.12% 5.7% 75.75% 45.87% 46.77% 50.41%
FCF Conversion (Net income) 56.14% 47.81% 6.39% 7.06% 87.56% 62.28% 64.23% 68.58%
Dividend per Share 2 0.6000 0.7000 0.8000 0.9250 1.025 1.200 1.289 1.428
Announcement Date 11/12/19 11/10/20 11/9/21 11/9/22 11/7/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 7,053 7,999 8,788 9,639 7,258 7,973 9,726 10,504 7,726 9,107 9,648 10,490 7,874 9,382 10,818
EBITDA 1 1,405 1,755 2,089 2,004 1,104 1,150 1,536 1,697 1,128 1,412 1,740 1,917 1,308 1,563 1,932
EBIT 1 1,327 1,651 1,951 1,996 1,081 1,053 1,438 1,615 1,067 1,337 1,479 1,575 1,065 1,155 1,790
Operating Margin 18.81% 20.64% 22.2% 20.7% 14.9% 13.21% 14.79% 15.38% 13.81% 14.68% 15.33% 15.01% 13.52% 12.31% 16.54%
Earnings before Tax (EBT) 1 1,497 1,883 2,183 2,066 1,267 1,245 1,784 2,018 1,248 1,528 1,668 1,814 1,270 1,556 1,902
Net income 1 1,142 1,436 1,648 1,632 958.7 942.2 1,335 1,510 947.4 1,172 1,264 1,359 946.5 1,161 1,433
Net margin 16.19% 17.96% 18.75% 16.93% 13.21% 11.82% 13.73% 14.37% 12.26% 12.87% 13.11% 12.96% 12.02% 12.38% 13.25%
EPS 2 3.170 4.030 4.670 4.670 2.760 2.730 3.900 4.450 2.820 3.520 3.824 4.145 2.875 3.525 4.429
Dividend per Share 2 0.2250 0.2250 0.2250 0.2500 0.2250 0.2500 0.2500 0.3000 0.3000 0.3000 0.3000 0.3000 0.3125 0.3125 0.3125
Announcement Date 2/2/22 4/26/22 7/21/22 11/9/22 1/24/23 4/20/23 7/20/23 11/7/23 1/23/24 4/18/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: September 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,885 1,265 2,202 3,526 1,221 1,362 906 1,265
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.8581 x 0.4129 x 0.4225 x 0.4862 x 0.2226 x 0.2126 x 0.1319 x 0.1721 x
Free Cash Flow 1 909 1,135 267 414 4,156 2,939 3,211 3,707
ROE (net income / shareholders' equity) 17% 21.7% 31.2% 34.2% 22.5% 19.6% 18.6% 18%
ROA (Net income/ Total Assets) 10.9% 13.8% 19.5% 21.5% 15.1% 13.5% 13.3% 13.6%
Assets 1 14,861 17,260 21,448 27,183 31,467 35,009 37,666 39,890
Book Value Per Share 2 27.20 32.50 41.80 56.40 67.80 76.90 90.30 102.0
Cash Flow per Share 2 2.360 3.840 1.460 1.580 12.50 6.990 5.950 -
Capex 1 224 287 267 148 149 154 169 176
Capex / Sales 1.27% 1.41% 0.96% 0.44% 0.42% 0.42% 0.43% 0.42%
Announcement Date 11/12/19 11/10/20 11/9/21 11/9/22 11/7/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
145.3 USD
Average target price
169.7 USD
Spread / Average Target
+16.78%
Consensus