Direct Answer
D. R. Horton reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Home Building Ops is the largest, with $31.5 billion of revenue (92% of the total), followed by Forestar Group at $1.7 billion (5%).
How Does D. R. Horton Make Money?
Home Building Ops supplies 92% of revenue, so D. R. Horton's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Forestar Group grew fastest (+10.1%) and Home Building Ops slowest (-7.2%), so the revenue mix tilts toward Forestar Group while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Home Building Ops | $31.5 billion | $34.0 billion | 92.0% | -7.2% |
| Forestar Group | $1.7 billion | $1.5 billion | 4.9% | 10.1% |
| Rental | $1.6 billion | $1.7 billion | 4.8% | -2.7% |
| Financial Services | $841 million | $883 million | 2.5% | -4.7% |
What the Segment Figures Do Not Show
The rows above add up to 104% of D. R. Horton's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value D. R. Horton reported in the segment note and revenue disclosures of its Form 10-K filed November 19, 2025 (accession 0000882184-25-000081), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are D. R. Horton's business segments?
In its fiscal 2025 Form 10-K, D. R. Horton reports revenue for Home Building Ops, Forestar Group, Rental and Financial Services.
Which part of D. R. Horton brings in the most revenue?
Home Building Ops, with $31.5 billion of revenue in fiscal 2025, or 92% of the total.
Where does D. R. Horton report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed November 19, 2025, alongside management's discussion of each segment's results.