D. R. Horton vs Lennar DHI vs LEN
D. R. Horton and Lennar on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
DHILEN
What differs most
- Free-cash-flow yield: D. R. Horton 8.0%, Lennar 0.1%.
- Net margin: D. R. Horton 9.2%, Lennar 4.1%.
- Operating margin: D. R. Horton 11.6%, Lennar 5.3%.
- Return on equity: D. R. Horton 12.8%, Lennar 6.1%.
Price return
2025-10-26 → 2026-10-26
DHI−7.2%
LEN−34.2%
Profile
latestSector
Consumer Cyclical
Consumer Cyclical
Industry
Residential Construction
Residential Construction
Market value
$40.98B
$19.98B
Enterprise value
$46.09B
$23.13B
Employees
14,341
12,532
Revenue per employee (TTM)
$2.3M
$2.6M
Our models
nightlythe valuation on each stock's pagePrice vs model
20% undervalued vs model
62% undervalued vs model
Model range
$132–315
$152–411
Models in the headline
1
1
FCF growth priced in, at a 10% return
2.2%
89.5%
Every model, its assumptions and its range: DHI valuation · LEN valuation. The growth priced in, at any return: DHI reverse DCF · LEN reverse DCF.
Trading
close 2026-10-26Last close
$146.52
$83.98
52-week high
$167.78
$133.13
52-week low
$132.53
$73.53
Price vs 52-week high
−12.7%
−36.9%
Price vs 52-week low
+10.6%
+14.2%
Average daily volume / shares
0.8%
1.4%
Beta
1.35
1.38
Returns
to 2026-10-261 month
+3.5%
+2.2%
3 months
−0.2%
−0.8%
6 months
−8.4%
−10.7%
Year to date
+1.7%
−18.3%
1 year
−7.2%
−34.2%
1 year, dividends added
−6.1%
−32.6%
2 years
−18.3%
−51.5%
Valuation
DHI price × TTM to Jun 2026 · LEN price × TTM to Aug 2026P/E (TTM)
14.0×
15.9×
P/E on consensus EPS (next FY)
14.0×
17.4×
Price / sales
1.2×
0.6×
EV / sales
1.4×
0.7×
EV / EBITDA
11.2×
11.5×
Price / book
1.7×
0.9×
Price / free cash flow (FY)
12.5×
708.9×
Free-cash-flow yield (FY)
8.0%
0.1%
Growth
TTM and FY2025Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
−4.4%
−8.0%
Revenue, 3-year CAGR
0.8%
0.5%
Revenue, 5-year CAGR
11.0%
8.7%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
−9.7%
−39.6%
EPS, 3-year CAGR
−11.2%
−20.2%
Free cash flow, 3-year CAGR
99.5%
−79.4%
Diluted shares, 3-year change
−12.7%
−11.1%
Profitability
DHI TTM to Jun 2026 · LEN TTM to Aug 2026Gross margin (FY)†
23.7%
9.9%
Operating margin
11.6%
5.3%
EBITDA margin
12.3%
6.3%
Net margin
9.2%
4.1%
Free-cash-flow margin (FY)
9.6%
0.1%
Return on equity
12.8%
6.1%
Return on assets
8.4%
3.9%
Asset turnover
0.91
0.96
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
DHI MRQ Jun 2026 · LEN MRQ Aug 2026Cash
$2.08B
$1.15B
Total debt
$7.18B
$4.30B
Net debt
$5.10B
$3.15B
Debt / equity
0.3×
0.2×
Net debt / EBITDA (TTM)
1.2×
1.6×
Interest coverage (FY)
0.0×
198.2×
Current ratio (FY)
17.39
3.12
Dividends
trailing 12 monthsDividend yield
1.2%
2.4%
Dividends per share
$1.80
$2.00
Payout ratio (of TTM EPS)
17.2%
37.9%
Dividend per share, 5-year CAGR
17.6%
15.6%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
6
5
Insider open-market buys (Form 4)
$0
$382.9M
Insider sales (Form 4)
$0
$0
Analyst upgrades
0
0
Analyst downgrades
0
0
Statements
DHI income TTM to Jun 2026 · cash flow FY2025 · LEN income TTM to Aug 2026 · cash flow FY2025Revenue
$33.35B
$31.97B
EBITDA
$4.11B
$2.02B
Operating income
$3.88B
$1.71B
Net income
$3.05B
$1.31B
EPS (diluted)
$10.47
$5.28
Operating cash flow
$3.42B
$216.8M
Capital expenditure
−$137.4M
−$188.6M
Free cash flow
$3.28B
$28.2M
Dividends paid
$494.8M
$521.0M
Keep comparing
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.