D.R. Horton (DHI) FY2013 results: revenue $6.3 billion, up 43.8% on the year
D.R. Horton, Inc. (DHI) reported revenue of $6.3 billion for fiscal 2013, the year ended 30 September 2013, up 43.8% on the year before. Net income was $463 million, down 51.6%, and diluted earnings per share $1.33. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2013.
Revenue
$6.3 billion
+43.8% on the year
FY2009FY2013
Operating margin
n/a
FY2009FY2013
Net income
$463 million
-51.6% on the year
FY2009FY2013
Diluted EPS
$1.33
-52.0% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,259
4,354
3,637
+43.8%
Interest expense
7.1
26.9
-51.9
-73.6%
Pre-tax income
658
243
12.1
+170.8%
Income tax
195
-713
-59.7
Effective tax rate
29.7%
-293.7%
-493.4%
Net income
463
956
71.8
-51.6%
Net margin
7.4%
22.0%
2.0%
Diluted EPS
$1.33
$2.77
$0.23
-52.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
-1,231
-292
18.9
Capital expenditure
58.0
33.6
16.3
+72.6%
Free cash flow
-1,289
-326
2.6
Free cash flow margin
-20.6%
-7.5%
0.1%
Cash from investing
181
-143
-23.3
Cash from financing
939
752
-572
+25.0%
Depreciation and amortisation
22.7
18.8
19.9
+20.7%
Share-based compensation
19.0
n/a
n/a
Buybacks
0.0
0.0
38.6
Dividends paid
60.2
47.8
47.8
+25.9%
Dividend per share
$0.19
$0.15
$0.15
+25.0%
Diluted shares, weighted
365m
359m
318m
+1.6%
Shares outstanding at period end
323m
321m
316m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,058
3,592
2,621
+13.0%
Non-controlling interest
2.9
2.6
2.9
+11.5%
Debt
3,509
2,493
1,705
+40.7%
Other liabilities
1,286
1,160
1,030
+10.8%
Total liabilities and equity
8,856
7,248
5,358
+22.2%
Fixed assets
110
73.8
57.6
+48.4%
Goodwill
n/a
38.9
15.9
Securities held for sale or to maturity
n/a
298
298
Cash and equivalents
977
1,087
770
-10.1%
Other assets
7,770
5,751
4,217
+35.1%
Total assets
8,856
7,248
5,358
+22.2%
10-K for the year ended 30 September 2013, filed 26 November 2013: the filing.