DHI
HORTON D R INC /DE/Evidence as of 2026-10-16The desk's Snapshot
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Overview · HORTON D R INC /DE/
D.R. Horton, Inc. operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 106 markets across 33 states under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, and Freedom Homes. The company constructs and sells sin…
Management team
- Mr. Thomas B. Montano · Senior VP, Corporate Compliance Officer & Corporate SecretaryFind on LinkedIn
- Tom Hill · President of East RegionFind on LinkedIn
- Mr. Michael J. Murray · Executive VP & COOFind on LinkedIn
- Mr. David V. Auld · Executive Vice ChairFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Revenues and profitability climbed sequentially across the three reported fiscal quarters: revenues rose from $ 6,886,900,000 in Q1 2026 (fiscal quarter ended 2026-01-15) to $ 7,558,100,000 in Q2 2026 (fiscal quarter ended 2026-04-16) and to $ 9,227,100,000 in Q3 2026 (fiscal quarter ended 2026-07-16). Net income followed the same pattern, moving from $ 594,800,000 → $ 647,900,000 → $ 904,900,000, and diluted EPS increased each quarter from $ 2.03 → $ 2.24 → $ 3.20.
Share counts declined over the period with reported common shares outstanding falling from 292,060,538 (as of FY 2025, fiscal quarter ended 2025-11-13) to 279,701,267 (as of 2026-07-16), and a repurchase cash outflow of $ 6,697,000 in Q1 2026 consistent with that pattern. Cash and cash equivalents declined from $ 2,506,300,000 as of 2025-12-31 to $ 1,917,900,000 as of 2026-03-31 before rebounding to $ 2,078,700,000 as of 2026-06-30. The filings also disclose corporate liquidity and credit items including a mortgage repurchase facility that matured May 6, 2026, and several revolving facilities for Forestar and DRH Rental with accordion features.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenues rose sequentially across the three fiscal quarters: $6,886,900,000 in Q1 2026 (2025-10-01 to 2025-12-31, 3mo) → $7,558,100,000 in Q2 2026 (2026-01-01 to 2026-03-31, 3mo) → $9,227,100,000 in fiscal Q3 2026 (2026-04-01 to 2026-06-30, 3mo). The quarter-to-quarter changes are about +9.7% from Q1→Q2 and +22.2% from Q2→fiscal Q3 2026 (using the three reported quarters).
XBRL companyfacts · 0000882184-26-000014Net income rose across those same quarters: $594,800,000 in Q1 2026 (2025-10-01 to 2025-12-31, 3mo) → $647,900,000 in Q2 2026 (2026-01-01 to 2026-03-31, 3mo) → $904,900,000 in fiscal Q3 2026 (2026-04-01 to 2026-06-30, 3mo). Sequential changes are about +9.0% Q1→Q2 and +39.7% Q2→fiscal Q3 2026.
XBRL companyfacts · 0000882184-26-000014Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
In an 8-K filed September 15, 2026, the Board authorized repurchase of an additional $5.0 billion of common stock with no expiration date and said total fiscal 2026 repurchases are now expected to be at least $3.25 billion.
8-K filed 2026-09-15In the Managements Discussion and Analysis filed November 19, 2025, consolidated revenues for fiscal 2025 decreased 7% to $34.3 billion, consolidated pre-tax income decreased 25% to $4.7 billion, and diluted earnings per share decreased to $11.57 from $14.34 in fiscal 2024.
10-K filed 2025-11-19Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Beta versus SPY is 0.95 and correlation versus SPY is 0.34 as of 2026-10-15.
Moneyta signal set · 2026-10-15Three-month momentum is -6.3% and six-month momentum is -2.0% as of 2026-10-15, with the six-month momentum ranked at the 41th percentile of 882.
Moneyta signal set · 2026-10-15weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
13F-reporting institutional holders reported a total position value of "$39.15B" in DHI for the reported quarter ended 2026-06-30, with the aggregate 13F-reported value up 18.0% quarter-over-quarter and holder count rising by 88 to 1,247.
13F holdings · 1247 filers · as of 2026-06-30Five largest listed 13F holders in the reported 2026-06-30 quarter included Capital World Investors at "$6.07B" (value qoq % +19.8), BlackRock, Inc. at "$4.07B" (+6.5%), VANGUARD CAPITAL MANAGEMENT LLC at "$2.76B" (+16.7%), VANGUARD PORTFOLIO MANAGEMENT LLC at "$2.02B" (+17.1%), and STATE STREET CORP at "$1.97B" (+20.9%).
13F holdings · 1247 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
D.R. Horton announced a multiyear deal with Canadian robotics firm Promise Robotics, reported 15 October 2026.
News · finance.yahoo.com · 2026-10-15Royal Bank of Canada reduced its price objective for D.R. Horton from $125.00 to $119.00 and maintained an underperform view in a report referenced 15 October 2026.
News · thelincolnianonline.com · 2026-10-15Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Murray Michael J (EVP and COO) reported a 'code G' transaction on 2026-09-08 for 5,000 shares with reported value "$0".
Form 4 · Murray Michael J (EVP and COO) · $0 code G · 2026-09-08CROW M CHAD (Director) reported a 'code M' transaction on 2026-08-26 for 264 shares with reported value "$0".
Form 4 · CROW M CHAD (Director) · $0 code M · 2026-08-26Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model calculates an implied free cash flow (FCF) growth rate of 8.21% that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closeTrailing twelve-month free cash flow (FCF) is $2,040,600,000 and FCF per share is $7.2106, with a price-to-FCF multiple of 19.35 at the price $139.55.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several contemporaneous company-reported metrics support a constructive reading: sequential quarter-over-quarter revenue, net income, and diluted EPS growth across the three most recent quarters (fundamentals-0, fundamentals-1, fundamentals-2) coincides with a declining diluted share count and recorded repurchase cash outflows (fundamentals-4, fundamentals-5), which together mechanically raise per-share results. Gross margins were roughly stable across the quarters (fundamentals-3), and trailing P/E is moderate at 12.89 (valuation-2) while institutional 13F-reported positions rose meaningfully quarter-over-quarter and large passive funds hold the name (ownership-0, ownership-1, ownership-2), indicating material investor engagement. The Board’s additional $5.0 billion repurchase authorization and fiscal 2026 repurchase guidance in the 8-K (filings-0) reinforces the connection between buybacks and the declining share base. Stronger points in the bear case — recent momentum weakness, multi-month price drawdown, and analyst downgrades flagged in news/market claims (market-1, market-2, market-3, news-1, news-2) — are market-price observations or third-party views and do not contradict the company-reported sequential profit and EPS improvements shown in the fundamentals claims. Given these jointly reported items, the evidence set supports an educationally favorable interpretation that recent operational results and capital-return activity have boosted per-share profitability and attracted institutional ownership.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.35
41 surviving claims rest on 18 distinct sources; the heaviest analyst carries 22% of them, and 96% of what the desk raised survived the debate.
The evidence bundle rests on a moderate number of distinct sources but a relatively large set of surviving claims; one analyst contributes a meaningful share of those claims and the desk’s debate left nearly all items standing. That combination raises caution: the read is informative but not highly robust to new, high-quality disconfirming data (source concentration and analyst dependence mean single new filings or market moves could materially change confidence). Treat the package as a snapshot supported by filings and models rather than a conclusive, unchangeable view.
Peer context · computed, not argued
12-1 momentum ranks 1st of 2 in Residential Construction (as of 2026-10-15).
6-month relative strength ranks 1st of 2 in Residential Construction (as of 2026-10-15).
90-day volatility ranks 2nd of 2 in Residential Construction (as of 2026-10-15).
dividend yield ranks 2nd of 2 in Residential Construction (as of 2026-10-15).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
12 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.7 to the score
10 documents· 5 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.3 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.4 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.9 to the score
7 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
4 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot+0.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on DHI Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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Educational analysis of published data. Moneyta does not give investment advice or make recommendations.