Horton D R (DHI) Operating Margin (2010 - 2026)
Horton D R (DHI) reported Operating Margin of 12.52% for fiscal Q3 2026 (quarter ended Jun 30, 2026), down 1.19 percentage points from 13.71% a year earlier but up 1.93 percentage points from the prior quarter.
Horton D R (DHI) Operating Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Horton D R's Operating Margin came in at 11.43%, down 2.72 percentage points year-over-year; for FY2025 (ended Sep 30, 2025), it came in at 12.92%, down 3.21 percentage points from FY2024.
- Operating Margin has declined for three consecutive fiscal years, with a five-year change of -1.31 percentage points (FY2020 to FY2025).
- By fiscal year, Operating Margin came in at 16.13% in FY2024 (-1.08 pp), 17.21% in FY2023 (-5.40 pp), 22.61% in FY2022 (+3.46 pp) and 19.15% in FY2021 (+4.92 pp).
- Five-year quarterly Operating Margin spans a low of 10.58% in fiscal Q2 2026 and a high of 24.67% in fiscal Q3 2022.
- Year over year, Operating Margin has now declined in each of the last nine quarters, with an average year-over-year change of -2.68 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was fiscal Q3 2022 (a gain of 5.23 percentage points); the low point was fiscal Q2 2023 (a drop of 8.34 percentage points).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at 10.58% (Q2 2026), 10.59% (Q1 2026) and 11.63% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.14 Bn | 30.03 Bn | 2.15 Bn | 12.52% |
| 2 | Pultegroup | 22.22 Bn | 15.51 Bn | 1.06 Bn | 16.95% |
| 3 | Lennar | 17.48 Bn | 6.90 Bn | 807.31 Mn | -84.82% |
| 4 | Nvr | 16.60 Bn | 9.88 Bn | 485.14 Mn | 14.38% |
| 5 | Toll Brothers | 12.52 Bn | 7.91 Bn | 625.22 Mn | 13.51% |
| 6 | Taylor Morrison Home | 6.77 Bn | 4.76 Bn | 290.64 Mn | 16.70% |
| 7 | Champion Homes | 4.79 Bn | 2.27 Bn | - | - |
| 8 | Cavco Industries | 4.30 Bn | 3.05 Bn | - | - |
| 9 | Meritage Homes | 4.17 Bn | 1.09 Bn | 513.60 Mn | 16.42% |
| 10 | M | 3.44 Bn | 510.26 Mn | 235.50 Mn | -68.02% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.52% |
| Mar 31, 2026 | 10.58% |
| Dec 31, 2025 | 10.59% |
| Sep 30, 2025 | 11.63% |
| Jun 30, 2025 | 13.71% |
| Mar 31, 2025 | 12.95% |
| Dec 31, 2024 | 13.56% |
| Sep 30, 2024 | 15.94% |
| Jun 30, 2024 | 17.24% |
| Mar 31, 2024 | 15.95% |
| Dec 31, 2023 | 15.16% |
| Sep 30, 2023 | 18.44% |
| Jun 30, 2023 | 17.81% |
| Mar 31, 2023 | 15.09% |
| Dec 31, 2022 | 16.94% |
| Sep 30, 2022 | 21.23% |
| Jun 30, 2022 | 24.67% |
| Mar 31, 2022 | 23.43% |
| Dec 31, 2021 | 21.01% |
| Sep 30, 2021 | 21.13% |
Horton D R Operating 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=operating-margin&ticker=DHI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=DHI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();