D. R. Horton vs Toll Brothers
D. R. Horton is the larger business, with $34.25bn of revenue in fiscal 2025 against $10.97bn for Toll Brothers (3.1 times as much). Toll Brothers grew faster (1.1% against -6.9%). Toll Brothers kept more of each dollar of sales as profit: a net margin of 12.3% against 10.5%. D. R. Horton carries less debt relative to equity (0.0% against 3.0%).
| Latest fiscal year | D. R. HortonDHI, 2025 | Toll BrothersTOL, 2025 |
|---|---|---|
| Revenue | $34.25bn | $10.97bn |
| Revenue growth | -6.9% | 1.1% |
| Net income | $3.59bn | $1.35bn |
| Operating margin | — | 15.7% |
| Net margin | 10.5% | 12.3% |
| Return on equity | 14.5% | 16.9% |
| Free cash flow | $3.28bn | $1.03bn |
| Cash | $2.99bn | $1.26bn |
| Total debt | $0 | $249m |
| Debt to equity | 0.0% | 3.0% |
| Dividend per share | $1.60 | $0.98 |
| Dividend yield | 1.2% | 0.7% |
| Share buybacks | $4.30bn | $651m |
| Employees | 14,341 | — |
| Market value | $40.81bn | $14.13bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 69 (Moderate) | 65 (Moderate) |
| Insider trades, 12 months | 0 buys, 1 sales | 0 buys, 9 sales |