Horton D R (DHI) Operating Expenses (2010 - 2026)
Horton D R (DHI) recorded Operating Expenses of $991.2 million in fiscal Q3 2026 (quarter ended Jun 30, 2026), up 5.0% from $944.3 million a year earlier and up 9.7% from the prior quarter.
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Analysis
Horton D R (DHI) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Horton D R's Operating Expenses came in at $3.73 billion as of Jun 30, 2026, up 1.3% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $3.69 billion, up 2.6% from FY2024.
- Annual Operating Expenses has increased for 14 straight fiscal years, with a five-year compound annual growth rate of 12.5% (FY2020 to FY2025).
- Across earlier fiscal years, Operating Expenses came in at $3.6 billion in FY2024 (+10.8%), $3.25 billion in FY2023 (+10.7%), $2.93 billion in FY2022 (+14.8%) and $2.56 billion in FY2021 (+24.8%).
- The fiscal Q3 2026 figure is the highest quarterly Operating Expenses in data going back to fiscal Q1 2011.
- On a year-over-year basis, Operating Expenses rose in seven of the last eight quarters, with growth averaging 2.9%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 20.1% in fiscal Q4 2022, against a decline of 1.5% in fiscal Q1 2026 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $903.3 million (Q2 2026), $865.1 million (Q1 2026) and $970.9 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.14 Bn | 30.03 Bn | 2.15 Bn | 991.20 Mn |
| 2 | Pultegroup | 22.34 Bn | 15.63 Bn | 1.06 Bn | 382.97 Mn |
| 3 | Lennar | 17.27 Bn | 6.70 Bn | 807.31 Mn | 7.54 Bn |
| 4 | Nvr | 16.72 Bn | 10.01 Bn | 485.14 Mn | 150.72 Mn |
| 5 | Toll Brothers | 12.58 Bn | 7.96 Bn | 625.22 Mn | 266.07 Mn |
| 6 | Taylor Morrison Home | 6.77 Bn | 4.76 Bn | 290.64 Mn | 58.97 Mn |
| 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 | 52.38 Mn |
| 10 | M | 3.48 Bn | 550.71 Mn | 235.50 Mn | 958.69 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 991.20 Mn |
| Mar 31, 2026 | 903.30 Mn |
| Dec 31, 2025 | 865.10 Mn |
| Sep 30, 2025 | 970.90 Mn |
| Jun 30, 2025 | 944.30 Mn |
| Mar 31, 2025 | 898.70 Mn |
| Dec 31, 2024 | 878.10 Mn |
| Sep 30, 2024 | 960.30 Mn |
| Jun 30, 2024 | 923.60 Mn |
| Mar 31, 2024 | 880.60 Mn |
| Dec 31, 2023 | 835.00 Mn |
| Sep 30, 2023 | 886.20 Mn |
| Jun 30, 2023 | 852.10 Mn |
| Mar 31, 2023 | 773.60 Mn |
| Dec 31, 2022 | 737.00 Mn |
| Sep 30, 2022 | 832.10 Mn |
| Jun 30, 2022 | 740.60 Mn |
| Mar 31, 2022 | 695.10 Mn |
| Dec 31, 2021 | 665.90 Mn |
| Sep 30, 2021 | 693.00 Mn |
API Access
Horton D R Operating Expenses 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=operating-expenses&ticker=DHI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=DHI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();