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This statistic highlights D.R. Horton’s Revenue Breakdown, split across Homebuilding, Financial Services and Forestar segments.
|Business Vertical||Q4 2020||Q3 2021||Q4 2021||Contribution in Q4 2021|
(all figures in millions, except percentages)
D.R. Horton’s total revenue increased from $6,726.00 million in Q4 2020 to $8,269.10 million in Q4 2021, indicating a 22.93% growth on a year-on-year basis. The revenue in Q4 2021 increased by 8.98% compared to the previous quarter, Q3 2021.
D.R. Horton’s revenue is bifurcated among the following business verticals:
The Company’s homebuilding divisions engaged in the acquisition and development of land. It also includes the construction and sale of residential homes, with operations in 98 markets across 31 states. The majority of the revenue generated by the Company’s homebuilding operations is from the sale of completed homes and to a lesser extent from the sale of land and lots.
D.R. Horton’s revenue from Homebuilding increased by 23.86% i.e. from $6,158.40 million in Q4 2020 to $7,627.90 million in Q4 2021 on a year-on-year basis. It also grew by 7.89% compared to $7,070.30 million earned in Q3 2021. This business vertical contributed to 92.25% of the company’s total revenue in Q4 2021.
The Company’s financial services segment provides title agency services to homebuyers in many of the Company’s homebuilding markets and mortgage financing. The segment generates the majority of its revenues from originating and selling mortgages and collecting fees for title insurance agencies and closing services. The Company sells to third-purchasers substantially all of the mortgages it originates and the related servicing rights. Mortgage subsidiaries contribute the majority of revenue in the Financial Services business vertical.
D.R. Horton’s revenue from Financial Services increased by 0.72% from $220.90 million in Q4 2020 to $222.50 million in Q4 2021 on a year-on-year basis. The revenue also grew by 17.91% concerning $188.70 million earned in Q3 2021. This business vertical contributed to 2.69% of the company’s total revenue in Q4 2021.
The Forestar business vertical is a residential lot development company with operations in 56 markets across 23 states. Forestar is a component of their homebuilding strategy to enhance operational efficiency and returns by expanding relationships with land developers and increasing the portion of land and lot position-controlled through land purchase contracts. The company’s homebuilding operations acquire finished lots from Forestar by the master supply agreement between the two companies. A shared services agreement is in place whereby they provide Forestar with certain administrative, compliance, operational, and procurement services.
D.R. Horton’s revenue from Forestar increased by 20.45% from $347.60 million in Q4 2020 to $418.70 million in Q4 2021 on a year-on-year basis. It also grew by 33.81% compared to $312.90 million earned in Q3 2021. Forestar business vertical contributed to 5.06% of the company’s total revenue in Q4 2021.
In addition to its homebuilding and financial services the company provides Forestar services, and rental operations, the Company also engages in other business activities through its subsidiaries. Others segment also includes insurance-related operations. The company owns and operates non-residential real estate including ranch land and improvements. It also operates energy-related assets. The results of these operations are immaterial for separate reporting and therefore are grouped and presented as others.
The revenue from other business verticals is nil in Q4 2021. However, the other business verticals generated $15.90 million in Q3 2021.
About the company
D.R. Horton, Inc. is one of the largest homebuilding companies operating in the United States. The company’s common stock is included in the S&P 500 Index. The company is listed on the New York Stock Exchange (NYSE) under the ticker symbol “DHI.”
D.R. Horton’s positioned as the most geographically diverse and largest volume homebuilder in the United States. This provides a strong platform for the company to compete for new home sales. Their product offerings include a broad range of homes for active adults, move-up, entry-level, and luxury buyers. Their entry-level homes at affordable price points have experienced very strong demand from homebuyers, as the entry-level segment of the new home market remains under-served, with low inventory levels relative to demand.
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