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D r Horton Inc   (DHI)
Other Ticker:  
 
    Sector  Capital Goods    Industry Construction Services
 
Price: $67.4300 $1.72 2.618%
Day's High: $66.825 Week Perf: -1.61 %
Day's Low: $ 65.47 30 Day Perf: -9.6 %
Volume (M): 267 52 Wk High: $ 110.45
Volume (M$): $ 17,633 52 Wk Avg: $88.92
Open: $69.41 52 Wk Low: $64.13



 Market Capitalization (Millions $) 24,025
 Shares Outstanding (Millions) 356
 Employees 9,716
 Revenues (TTM) (Millions $) 30,446
 Net Income (TTM) (Millions $) 5,050
 Cash Flow (TTM) (Millions $) -543
 Capital Exp. (TTM) (Millions $) 483

D R Horton Inc
D.R. Horton, Inc. is a national homebuilder. We construct and sell high quality single-family homes, designed principally for first-time and move-up homebuyers, through our operating divisions in 21 states and 63 metropolitan markets of the United States, primarily under the name of D.R. Horton, America’s Builder. D.R.  Horton, Inc. is a Fortune 500 company listed on the New York Stock Exchange under the ticker symbol “DHI.

Donald R. Horton began our homebuilding business in 1978. In 1991, we were incorporated in Delaware to acquire the assets and businesses of our predecessor companies, which were residential home construction and development companies owned or controlled by Mr. Horton. In 1992, we completed our initial public offering of our common stock. From inception, we have consistently grown the size of our company by investing our available capital into our existing homebuilding markets and into start-up operations in new markets. Additionally, from July 1993 to February 2002, we acquired 17 other homebuilding companies, which strengthened our market position in existing markets and expanded our geographic presence and product offerings in other markets. Our homes generally range in size from 1,000 to 5,000 square feet and range in price from $80,000 to $900,000.

Through our financial services operations, we provide mortgage banking and title agency services to homebuyers in many of our homebuilding markets. DHI Mortgage, our wholly owned subsidiary, provides mortgage financing services, principally to purchasers of homes we build and sell. Our subsidiary title companies serve as title insurance agents by providing title insurance policies, examination and closing services, primarily to purchasers of homes we build and sell.

Our financial reporting segments consist of homebuilding and financial services. Our homebuilding operations are a substantial part of our business. Our homebuilding segment generates the majority of its revenues from the sale of completed homes with a lesser amount from the sale of land and lots. In addition to building traditional single family detached homes, the homebuilding segment also builds attached homes, such as town homes, condominiums, duplexes, and triplexes, which share common walls and roofs.

We believe our diversification strategy mitigates the effects of local and regional economic cycles and enhances our growth potential. Typically, we do not invest material amounts of capital in real estate, including raw land, developed lots, models and speculative homes, or overhead in start-up operations in new markets, until such markets demonstrate significant growth potential and acceptance of our products. While we believe there are significant growth opportunities in our existing markets, we also intend to continue our diversification strategy by seeking to enter new markets. We continually monitor the sales, margins and returns achieved in each of our markets as part of our evaluation of the use of our capital.

Operating Division Responsibilities

Each operating division is responsible for:

Site selection, which involves

— A feasibility study;

— Soil and environmental reviews;

— Review of existing zoning and other governmental requirements; and

— Review of the need for and extent of offsite work required to meet local building codes;

Negotiating lot option or similar contracts;

Overseeing land development;

Selecting building plans and architectural schemes;

Obtaining all necessary building approvals;

Selecting and managing construction subcontractors and suppliers;

Planning and managing homebuilding schedules; and

Developing and implementing marketing plans.

Markets

We conduct our homebuilding operations in all of the geographic regions, states and markets listed below, and we conduct our mortgage and title operations in many of these markets as indicated in the following table:

When evaluating the viability of new or existing homebuilding markets, we consider the following factors, among others:

Regional economic conditions;

Job growth;

Land availability;

Local land development process;

New home sales activity;

Competition;

Secondary home sales activity; and

Local housing products, features and pricing.

Typically, we acquire land only after we have completed appropriate due diligence and after we have obtained the rights (“entitlements”) to begin development or construction work. Before we acquire lots or tracts of land, we will, among other things, complete a feasibility study, which includes soil tests, independent environmental studies and other engineering work, and determine that all necessary zoning and other governmental entitlements required to develop and use the property for home construction have been obtained. Although we purchase and develop land primarily to support our homebuilding activities, occasionally we sell lots and land to other developers and homebuilders.

We also enter into land/lot option contracts, in which we purchase the right, but generally not the obligation, to buy land or lots at predetermined prices on a defined schedule commensurate with anticipated home closings or planned land development. Our option contracts generally are non-recourse, which limits our financial exposure to our earnest money deposited with land and lot sellers. This enables us to control significant land and lot positions with minimal capital investment, which substantially reduces the risks associated with land ownership and development.

We limit our exposure to real estate inventory risks by:

Maintaining approximately a three to four year supply of land/lots controlled (owned and optioned);

Closely monitoring local market and demographic trends, housing preferences and related economic developments, such as new job opportunities, local growth initiatives and personal income trends;

Utilizing land/lot option contracts, where possible;

Limiting the size of acquired land parcels to smaller tracts, where possible;

Generally commencing construction of homes under contract only after receipt of a satisfactory down payment and, where applicable, the buyer’s receipt of mortgage approval; and

Closely monitoring the number of speculative homes (homes started without an executed sales contract) built in each subdivision.

Construction

Our home designs are prepared by architects in each of our markets to appeal to local tastes and preferences of homebuyers in each community. We also offer optional interior and exterior features to allow homebuyers to enhance the basic home design and to allow us to generate additional revenues from each home sold.

Substantially all of our construction work is performed by subcontractors. Our construction supervisors monitor the construction of each home, participate in important design and building decisions, coordinate the activities of subcontractors and suppliers, review the work of subcontractors for quality and cost controls and monitor compliance with zoning and building codes. Subcontractors typically are retained for a specific subdivision pursuant to a contract that obligates the subcontractor to complete construction at a fixed price. Agreements with our subcontractors and suppliers generally are negotiated for each subdivision. We compete with other homebuilders for qualified subcontractors, raw materials and lots in the markets where we operate.

Construction time for our homes depends on the weather, availability of labor, materials and supplies, size of the home, and other factors. We typically complete the construction of a home within four to six months.

We do not maintain significant inventories of construction materials, except for work in progress materials for homes under construction. Typically, the construction materials used in our operations are readily available from numerous sources. We have contracts exceeding one year with certain suppliers of our building materials that are cancelable at our option with a 30 day notice. In recent years, we have not experienced any significant delays in construction due to shortages of materials or labor.

Our operating divisions are responsible for pre-closing quality control inspections and responding to customers’ post-closing needs. We believe that prompt and courteous response to homebuyers’ needs during and after construction reduces post-closing repair costs, enhances our reputation for quality and service, and ultimately leads to significant repeat and referral business from the real estate community and homebuyers. We provide our homebuyers with a limited one-year warranty on workmanship and building materials. The subcontractors who perform most of the actual construction also provide us with warranties on workmanship and are generally prepared to respond to us and the homeowner promptly upon request. In addition, we provide a supplemental ten-year limited warranty that covers major construction defects.

Competition

The homebuilding industry is highly competitive. We compete in each of our markets with numerous other national, regional and local homebuilders for homebuyers, desirable properties, raw materials, skilled labor and financing. Our homes compete on the basis of quality, price, design, mortgage financing terms and location.



   Company Address: 1341 Horton Circle Arlington 76011 TX
   Company Phone Number: 390-8200   Stock Exchange / Ticker: NYSE DHI
   DHI is expected to report next financial results on July 22, 2022.


Customers Net Income fell by DHI's Customers Net Profit Margin fell to

-28.09 %

17.38 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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D R Horton Inc 's Segments
 
Home sales
 Segment    96.85 % of total Revenue
Landlot sales
 Segment    0.63 % of total Revenue
Financial Services
 Segment    2.52 % of total Revenue
Mid-Atlantic
 Segment    12.36 % of total Revenue
Midwest
 Segment    6.96 % of total Revenue
Southeast
 Segment    26.27 % of total Revenue
Southwest
 Segment    3.28 % of total Revenue
West
 Segment    24.07 % of total Revenue
 
• View Complete Report

D R Horton Inc 's Operating Statistics Decrease / Increase
       
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