HORTON D R INC /DE/ (DHI)
Operative Builders
Latest Price
$143.06
TTM P/E
13.64
Normalized P/E
10.61
Div Yield
1.22%
Book Value
82.85
P/B Ratio
1.73
Valuation metrics
adjust assumptions →EPS: $11.57
Book value / share: $82.15
Formula: √(22.5 × EPS × BVPS)
Graham Number
$146.24
+2% upside
Norm. op. income: $5.4B (median of 7yr)
Tax rate: 24%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$149.23
+4% upside
Base FCF: $2.0B (median of recent 5yr)
Growth: 9%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$172.68
+21% upside
EPS: $11.57
Target P/E: 11×
Formula: EPS × P/E
P/E Fair Value
$127.27
11% downside
Institutional Ownership
83.2% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| Capital World Investors | 36.94M | $5.07B | 13.16% | -12.3K | 2026-03-31 |
| BlackRock, Inc. | 27.84M | $3.82B | 9.92% | -478.3K | 2026-03-31 |
| VANGUARD CAPITAL MANAGEMENT LLC | 17.22M | $2.36B | 6.13% | -- | 2026-03-31 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 12.57M | $1.72B | 4.48% | -- | 2026-03-31 |
| STATE STREET CORP | 11.86M | $1.63B | 4.22% | -232.5K | 2026-03-31 |
| FMR LLC | 9.76M | $1.34B | 3.48% | +2.34M | 2026-03-31 |
| GEODE CAPITAL MANAGEMENT, LLC | 7.27M | $994.0M | 2.59% | +83.3K | 2026-03-31 |
| Capital Research Global Investors | 4.66M | $639.0M | 1.66% | +10.7K | 2026-03-31 |
| MORGAN STANLEY | 3.84M | $527.0M | 1.37% | +159.1K | 2026-03-31 |
| GOLDMAN SACHS GROUP INC | 3.56M | $488.0M | 1.27% | +676.5K | 2026-03-31 |