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.

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DHILEN

What differs most

generated from the numbers below

Free-cash-flow yield: D. R. Horton 8.4%, Lennar 0.2%.
Net margin: D. R. Horton 9.2%, Lennar 4.1%.
One-year price return: D. R. Horton −8.8%, Lennar −37.3%.
Market value: D. R. Horton $38.99B, Lennar $18.34B.

Price return

2025-10-16 → 2026-10-16

DHI−8.8%

LEN−37.3%

Prices at the close on 2026-10-16

$139.39

$77.08

Profile

latest

Sector

Consumer Cyclical

Industry

Residential Construction

Market value

$38.99B

$18.34B

Enterprise value

$44.02B

$22.71B

Employees

14,341

12,532

Revenue per employee (TTM)

$2.3M

$2.6M

Our models

nightlythe valuation on each stock's page

Price vs model

31% undervalued vs model

67% undervalued vs model

Model range

$146–345

$163–439

Models in the headline

FCF growth priced in, at a 10% return

1.3%

87.0%

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 2026-10-16

Last close

$139.39

$77.08

52-week high

$167.78

$133.13

52-week low

$132.53

$73.53

Price vs 52-week high

−16.9%

−42.1%

Price vs 52-week low

+5.2%

+4.8%

Average daily volume / shares

0.8%

1.4%

Beta

1.35

1.38

Returns

to 2026-10-16

1 month

+0.8%

−1.6%

3 months

−9.7%

−10.8%

6 months

−2.8%

−13.2%

Year to date

−3.2%

−25.0%

1 year

−8.8%

−37.3%

1 year, dividends added

−7.7%

−35.6%

2 years

−27.6%

−59.1%

Valuation

DHI price × TTM to Jun 2026 · LEN price × TTM to Aug 2026

P/E (TTM)

13.3×

—

P/E on consensus EPS (next FY)

13.3×

15.9×

Price / sales

1.2×

0.6×

EV / sales

1.3×

0.7×

EV / EBITDA

—

Price / book

1.6×

0.9×

Price / free cash flow (FY)

11.9×

650.7×

Free-cash-flow yield (FY)

8.4%

0.2%

Growth

TTM and FY2025

Revenue 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%

−39.1%

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 2026

Gross margin (FY)†

23.7%

9.9%

Operating margin

—

EBITDA margin

—

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%

3.8%

Asset turnover

0.91

0.93

† 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 2026

Cash

$2.08B

$1.50B

Total debt

$7.11B

$5.87B

Net debt

$5.03B

$4.38B

Debt / equity

0.3×

Net debt / EBITDA (TTM)

—

Interest coverage (FY)

0.0×

198.2×

Current ratio (FY)

17.39

3.12

Dividends

trailing 12 months

Dividend yield

1.3%

2.6%

Dividends per share

$1.80

$2.00

Payout ratio (of TTM EPS)

17.2%

—

Dividend per share, 5-year CAGR

17.6%

15.6%

Frequency

Quarterly

Ownership and activity

last 90 days · latest 13F

Tracked superinvestors holding (13F)

Insider open-market buys (Form 4)

$382.9M

Insider sales (Form 4)

Analyst upgrades

Analyst downgrades

Statements

DHI income TTM to Jun 2026 · cash flow FY2025 · LEN income TTM to Aug 2026 · cash flow FY2025

Revenue

$33.35B

$31.97B

EBITDA

—

Operating income

—

Net income

$3.05B

$1.31B

EPS (diluted)

$10.49

—

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

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Statements from the companies' SEC filings; 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.