D. R. Horton

(Registrant’s telephone number, including area code)

| | | | | | | | | | | | | | |
| Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | | Trading Symbol | | Name of Each Exchange on Which Registered
| Common Stock, par value $.01 per share | | DHI | | New York Stock Exchange
| | | | | NYSE Texas
| 5.000% Senior Notes due 2034 | | DHI 34 | | New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No o

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No ý

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Agencies routinely initiate audits, reviews or investigations, causing potentially significant costs or disruptions.

Any loss of personal information and failure to comply with these requirements or other applicable laws and regulations in this area could result in substantial penalties, reputational damage or litigation.

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Table of Contents

We routinely utilize information technology security experts to assist us in our evaluations of the effectiveness of the security of our information technology systems, and we regularly enhance our security measures, which include multiple redundant safeguards, to protect our systems and data. We use various encryption, tokenization and authentication technologies to mitigate cybersecurity risks and have increased our monitoring capabilities to enhance early detection and rapid response to potential cyber threats. However, because the techniques used to obtain unauthorized access, disable or degrade systems change frequently and increasingly leverage sophisticated technologies such as artificial intelligence, they often are not recognized until launched against a target. As such, we may be unable to anticipate these techniques, to implement adequate preventative measures or to identify and investigate cybersecurity incidents. We may also incur costs to adapt our cybersecurity program to the evolving threat landscape and to investigate and remediate vulnerabilities or other identified risks.

Although past cybersecurity incidents have not had a material effect on our business or operations to date, in the future, a significant and extended disruption in the functioning of our information technology systems or a breach of any of our data security controls could disrupt our business operations, damage our reputation and cause us to lose customers. Additionally, if a cybersecurity incident is determined to be material, we are subject to additional reporting requirements. We cannot provide assurances that a cyber incident, including data theft or other significant systems or security failures will not occur in the future, and such occurrences could have a material and adverse effect on our consolidated results of operations or financial position.

CONSOLIDATED STATEMENTS OF CASH FLOWS

| | | | | | | | | | | |
| | Nine Months Ended June 30,
| | 2026 | | 2025
| | (In millions)

(Unaudited)

| OPERATING ACTIVITIES | | |
| Net income | $ | 2,178.1 | | | $ | 2,704.1 |

CONSOLIDATED STATEMENTS OF CASH FLOWS

| | | | | | | | | | | |
| | Nine Months Ended June 30,
| | 2026 | | 2025
| | (In millions)

(Unaudited)

| OPERATING ACTIVITIES | | |
| Net income | $ | 2,178.1 | | | $ | 2,704.1 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | |
| Depreciation and amortization | 84.8 | | | 73.9 |
| Stock-based compensation expense | 107.5 | | | 101.1 |
| Deferred income taxes | 88.0 | | | 101.2 |
| Inventory and land option charges | 65.2 | | | 100.8 |
| Changes in operating assets and liabilities: | | |
| Increase in construction in progress and finished homes | (1,417.2) | | | (146.1) |
|

Decrease (increase) in residential land and lots –

developed, under development, held for development and held for sale

| 372.3 | | | (1,481.1) |
| Increase in rental properties | (342.9) | | | (230.8) |
| Increase in other assets | (108.8) | | | (136.5) |
| Increase in mortgage loans held for sale | (424.1) | | | (290.2) |
| Increase in accounts payable, accrued expenses and other liabilities | 277.9 | | | 152.7 |
| Net cash provided by operating activities | 880.8 | | | 949.1 |