Company Valuation: DR Horton

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,078 23,403 36,357 62,160 50,523 39,581 - -
Change - -22.19% 55.35% 70.97% -18.72% -21.66% - -
Enterprise Value (EV) 1 32,280 26,929 37,578 63,562 53,503 42,409 43,144 43,533
Change - -16.57% 39.54% 69.15% -15.82% -20.73% 1.73% 0.9%
P/E 7.36x 4.08x 7.78x 13.3x 14.6x 13.6x 12.4x 10.3x
PBR 2.01x 1.19x 1.59x 2.44x 2.06x 1.64x 1.56x 1.47x
PEG - 0.1x -0.5x 3.53x -0.8x -1.37x 1.25x 0.5x
Capitalization / Revenue 1.08x 0.7x 1.03x 1.69x 1.48x 1.21x 1.15x 1.06x
EV / Revenue 1.16x 0.8x 1.06x 1.73x 1.56x 1.29x 1.25x 1.17x
EV / EBITDA 6.19x 3.71x 6.85x 11.3x 12.4x 9.95x 9.44x 8.28x
EV / EBIT 6.72x 3.89x 7.24x 11.9x 13.3x 12.1x 11.2x 10.6x
EV / FCF 121x 65.1x 9.04x 31.4x 16.3x 12.1x 16.1x -
FCF Yield 0.83% 1.54% 11.1% 3.19% 6.14% 8.23% 6.23% -
Dividend per Share 2 0.8 0.925 1.025 1.2 1.6 1.791 1.914 2.112
Rate of return 0.95% 1.37% 0.95% 0.63% 0.94% 1.27% 1.35% 1.49%
EPS 2 11.41 16.51 13.82 14.34 11.57 10.42 11.46 13.8
Distribution rate 7.01% 5.6% 7.42% 8.37% 13.8% 17.2% 16.7% 15.3%
Net sales 1 27,774 33,480 35,460 36,801 34,250 32,779 34,462 37,310
EBITDA 1 5,212 7,253 5,486 5,645 4,324 4,262 4,571 5,256
EBIT 1 4,802 6,924 5,188 5,348 4,033 3,509 3,849 4,117
Net income 1 4,176 5,858 4,746 4,756 3,585 2,969 3,100 3,514
Net Debt 1 2,202 3,526 1,221 1,401 2,980 2,829 3,563 3,952
Reference price 2 83.97 67.35 107.47 190.77 169.47 141.51 141.51 141.51
Nbr of stocks (in thousands) 358,194 347,481 338,297 325,839 298,124 279,701 - -
Announcement Date 11/9/21 11/9/22 11/7/23 10/29/24 10/28/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.48x1.28x9.87x1.28% 39.26B
11.7x - - 0.86% 22.15B
10.23x0.94x8.87x3.95% 17.66B
9.66x0.81x8.84x4.33% 13.66B
10.68x1.27x7.61x0.75% 12.52B
13.01x0.79x6.37x3.26% 6.39B
14.19x0.58x5.89x1.93% 5.6B
11.51x0.92x7.17x5.29% 4.87B
12.23x0.68x11.38x4.12% 4.69B
Average 11.86x 0.91x 8.25x 2.86% 14.09B
Weighted average by Cap. 11.92x 1.05x 8.81x 2.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield