HORTON D R INC /DE/ (DHI) closed fiscal year 2025 with a gross margin of 23.7 % and a net margin of 10.5 %.
HORTON D R INC /DE/ (DHI) closed fiscal year 2025 with a gross margin of 23.7 % and a net margin of 10.5 %. The same year shows an EBITDA margin of 13.2 % and an EBIT margin of 12.9 %. The free cash flow margin was 9.6 %. Against the previous year the gross margin moved −2.2 pp and the net margin −2.5 pp. Across the period the gross margin ranges between 21.6 % in 2017 and 31.4 % in 2022. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: September
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | 21.84 % | 21.63 % | 22.84 % | 22.01 % | 24.31 % | 28.35 % | 31.37 % | 26.37 % | 25.91 % | 23.70 % |
| EBITDA margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 22.85 % | 17.47 % | 16.37 % | 13.21 % |
| EBIT margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 22.61 % | 17.21 % | 16.13 % | 12.92 % |
| Net margin (%) | — | -15.03 % | 5.57 % | 1.97 % | 21.96 % | 7.39 % | 6.65 % | 6.94 % | 7.29 % | 7.37 % | 9.09 % | 9.20 % | 11.69 % | 15.03 % | 17.50 % | 13.38 % | 12.92 % | 10.47 % |
| FCF margin (%) | — | 31.03 % | 15.69 % | 0.07 % | -7.48 % | -20.57 % | -9.49 % | 5.95 % | 4.49 % | 2.40 % | 2.97 % | 4.35 % | 6.52 % | 1.59 % | 1.24 % | 11.72 % | 5.50 % | 9.59 % |
