D.R. Horton (DHI) FY2016 results: revenue $12.2 billion, up 12.3% on the year
D.R. Horton, Inc. (DHI) reported revenue of $12.2 billion for fiscal 2016, the year ended 30 September 2016, up 12.3% on the year before. Net income was $886 million, up 18.1%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2016.
Revenue
$12.2 billion
+12.3% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$886 million
+18.1% on the year
FY2009FY2016
Diluted EPS
$2.36
+16.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
12,157
10,824
8,025
+12.3%
Cost of revenue
9,503
n/a
n/a
Gross profit
2,655
n/a
n/a
Gross margin
21.8%
n/a
n/a
Selling, general and administrative
1,320
n/a
n/a
Interest expense
n/a
0.0
0.0
Pre-tax income
1,354
1,123
814
+20.5%
Income tax
467
373
281
+25.4%
Effective tax rate
34.5%
33.2%
34.5%
Net income
886
751
534
+18.1%
Net margin
7.3%
6.9%
6.6%
Diluted EPS
$2.36
$2.03
$1.50
+16.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
624
700
-661
-10.9%
Capital expenditure
78.1
56.1
100
+39.2%
Free cash flow
546
644
-762
-15.3%
Free cash flow margin
4.5%
6.0%
-9.5%
Cash from investing
-113
-95.4
-282
Cash from financing
-592
117
628
Depreciation and amortisation
61.0
54.1
38.4
+12.8%
Share-based compensation
49.0
42.2
26.2
+16.1%
Buybacks
0.0
0.0
n/a
Dividends paid
119
91.6
48.6
+29.6%
Dividend per share
$0.32
$0.25
$0.14
+28.0%
Diluted shares, weighted
375m
370m
367m
+1.4%
Shares outstanding at period end
373m
369m
365m
+1.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,792
5,894
5,116
+15.2%
Non-controlling interest
0.5
1.1
3.9
-54.5%
Debt
3,271
3,812
3,666
-14.2%
Other liabilities
1,495
1,444
1,417
+3.5%
Total liabilities and equity
11,559
11,151
10,202
+3.7%
Fixed assets
195
147
194
+33.0%
Cash and equivalents
1,303
1,384
662
-5.8%
Other assets
10,060
9,620
9,347
+4.6%
Total assets
11,559
11,151
10,202
+3.7%
10-K for the year ended 30 September 2016, filed 18 November 2016: the filing.