DHI · News · 20261101N

Gross Margin Drivers

HORTON D R INC /DE/ · 2026-11-01 · Importance 42 · Surprise 40

D.R. Horton’s fiscal Q4 2026 operating margin was 9.9%, down from 11.6% in the prior-year quarter. Management expected first-quarter fiscal 2027 home sales gross margin of 18% to 18.5%, compared with 19.5% in Q4. The reported drivers of continued margin pressure were elevated mortgage rates and affordability pressures affecting demand.

Key facts

• D.R. Horton’s operating margin was 9.9%, down from 11.6% in the same quarter a year earlier. source