Horton D R (DHI) Gross Margin (2009 - 2026)
Horton D R's Gross Margin was 23.26% in fiscal Q3 2026 (quarter ended Jun 30, 2026), down 0.69 percentage points from 23.95% a year earlier but up 0.72 percentage points from the prior quarter.
Horton D R (DHI) Gross Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Horton D R's Gross Margin was 22.61% through Jun 30, 2026, down 2.19 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it was 23.70%, down 2.21 percentage points from FY2024.
- Gross Margin has now declined for three consecutive fiscal years, with a five-year change of -0.61 percentage points (FY2020 to FY2025).
- In earlier fiscal years, Gross Margin was 25.91% in FY2024 (-0.46 pp), 26.37% in FY2023 (-5.01 pp), 31.37% in FY2022 (+3.02 pp) and 28.35% in FY2021 (+4.04 pp).
- Quarterly Gross Margin has moved between 21.67% (fiscal Q4 2025) and 33.10% (fiscal Q3 2022) over five years.
- Compared with a year earlier, Gross Margin has declined for nine straight quarters, with an average year-over-year change of -1.79 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was fiscal Q3 2022 (a gain of 4.66 percentage points); the worst was fiscal Q2 2023 (a drop of 7.33 percentage points).
- Per Business Quant data, DHI's Gross Margin in the three fiscal quarters before Q3 2026 was 22.54% (Q2 2026), 23.16% (Q1 2026) and 21.67% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.14 Bn | 30.03 Bn | 2.15 Bn | 23.26% |
| 2 | Pultegroup | 22.34 Bn | 15.63 Bn | 1.06 Bn | 26.57% |
| 3 | Lennar | 17.27 Bn | 6.70 Bn | 807.31 Mn | 10.17% |
| 4 | Nvr | 16.72 Bn | 10.01 Bn | 485.14 Mn | 20.85% |
| 5 | Toll Brothers | 12.58 Bn | 7.96 Bn | 625.22 Mn | 23.52% |
| 6 | Taylor Morrison Home | 6.77 Bn | 4.76 Bn | 290.64 Mn | 20.95% |
| 7 | Champion Homes | 4.80 Bn | 2.28 Bn | - | - |
| 8 | Cavco Industries | 4.31 Bn | 3.07 Bn | - | - |
| 9 | Meritage Homes | 4.24 Bn | 1.16 Bn | 513.60 Mn | 18.28% |
| 10 | M | 3.48 Bn | 550.71 Mn | 235.50 Mn | 22.15% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.26% |
| Mar 31, 2026 | 22.54% |
| Dec 31, 2025 | 23.16% |
| Sep 30, 2025 | 21.67% |
| Jun 30, 2025 | 23.95% |
| Mar 31, 2025 | 24.57% |
| Dec 31, 2024 | 25.09% |
| Sep 30, 2024 | 25.54% |
| Jun 30, 2024 | 26.51% |
| Mar 31, 2024 | 25.62% |
| Dec 31, 2023 | 25.97% |
| Sep 30, 2023 | 26.88% |
| Jun 30, 2023 | 26.57% |
| Mar 31, 2023 | 24.79% |
| Dec 31, 2022 | 27.09% |
| Sep 30, 2022 | 29.86% |
| Jun 30, 2022 | 33.10% |
| Mar 31, 2022 | 32.12% |
| Dec 31, 2021 | 30.45% |
| Sep 30, 2021 | 29.67% |
Horton D R Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=DHI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "DHI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=DHI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();