D. R. Horton Q2 FY26: where the revenue came from and where it went
The whole income statement of D. R. Horton for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 23, 2026
Revenue$7.56B
−2% year over year
Gross profit$1.70B
23% margin
Operating profit$0.80B
11% margin
Net profit$0.65B
9% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 7.56 | 100% | −2% |
| Home building ops | 7.05 | 93% | −2% |
| Rental | 0.21 | 3% | −10% |
| Financial services | 0.19 | 3% | −9% |
| Land | 0.11 | 1% | +4% |
| Cost of revenue | −5.86 | 77% | |
| Gross profit | 1.70 | 23% margin | −2pp |
| SG&A | −0.90 | 12% | +0pp |
| Operating profit | 0.80 | 11% margin | +0pp |
| Other income, net | 0.06 | ||
| Tax | −0.21 | ||
| Net profit | 0.65 | 9% margin | −2pp |
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