D.R. Horton, Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $34.3B |
| Gross margin | 23.7% |
| Operating income | — not reported |
| Net income | $3.6B |
| Diluted EPS | $11.57 |
| Cash & equivalents | $3.0B |
| Total assets | $35.5B |
| Long-term debt | — not reported |
Key takeaway
Fiscal 2025 revenue declined 7% to $34.3 billion and pre-tax income fell to $4.7 billion from $6.3 billion as affordability constraints and cautious consumer sentiment weighed on demand.
🔒 4 more takeaways in the full analysis
Beneath the surface
Despite lower revenue and earnings, operating cash flow rose to $3.4 billion from $2.2 billion, suggesting working-capital/inventory management (inventory real estate build reflected in the ~$1.9 billion swing in the inventory-related cash flow line) helped offset margin compression.
🔒 3 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for DHI.
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