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Horton D R vs Toll Brothers: revenue, profit, margins and growth compared

Horton D R brought in $34.3B of revenue in fiscal 2025, Toll Brothers $11B in fiscal 2025. Revenue changed by -6.9% at Horton D R and +1.1% at Toll Brothers on the year before, so Toll Brothers grew faster. Horton D R kept 10.5% of its revenue as net profit, Toll Brothers 12.3%. Free cash flow was $3.3B at Horton D R and $1B at Toll Brothers.

Side by side, latest fiscal year

DHITOL
Fiscal year endedFY2025 (September 30, 2025)FY2025 (October 31, 2025)
Revenue$34.3B$11B
Revenue growth-6.9%+1.1%
Net income$3.6B$1.3B
Net margin10.5%12.3%
Free cash flow$3.3B$1B
Free cash flow margin9.6%9.4%
Earnings per share (diluted)$11.57$13.49
Cash$3B$1.3B
Debtn/an/a
Price to earnings12.210.2
Market value$39.6B$12.8B
Dividend yield1.13%0.71%
Rank by revenue in sector#29 of 778 · Consumer discretionary#116 of 778 · Consumer discretionary

Over the years

Revenue
DHI FY2018: $16.1BDHI FY2019: $17.6BDHI FY2020: $20.3BDHI FY2021: $27.8BDHI FY2022: $33.5BDHI FY2023: $35.5BDHI FY2024: $36.8BDHI FY2025: $34.3BTOL FY2018: $7.1BTOL FY2019: $7.2BTOL FY2020: $7.1BTOL FY2021: $8.8BTOL FY2022: $10.3BTOL FY2023: $10BTOL FY2024: $10.8BTOL FY2025: $11BFY18FY19FY20FY21FY22FY23FY24FY25
DHI $34.3BTOL $11B
Net income
DHI FY2018: $1.5BDHI FY2019: $1.6BDHI FY2020: $2.4BDHI FY2021: $4.2BDHI FY2022: $5.9BDHI FY2023: $4.7BDHI FY2024: $4.8BDHI FY2025: $3.6BTOL FY2018: $748.2MTOL FY2019: $590MTOL FY2020: $446.6MTOL FY2021: $833.6MTOL FY2022: $1.3BTOL FY2023: $1.4BTOL FY2024: $1.6BTOL FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
DHI $3.6BTOL $1.3B
Net margin
DHI FY2018: 9.1%DHI FY2019: 9.2%DHI FY2020: 11.7%DHI FY2021: 15.0%DHI FY2022: 17.5%DHI FY2023: 13.4%DHI FY2024: 12.9%DHI FY2025: 10.5%TOL FY2018: 10.5%TOL FY2019: 8.2%TOL FY2020: 6.3%TOL FY2021: 9.5%TOL FY2022: 12.5%TOL FY2023: 13.7%TOL FY2024: 14.5%TOL FY2025: 12.3%FY18FY19FY20FY21FY22FY23FY24FY25
DHI 10.5%TOL 12.3%
Revenue growth
DHI FY2019: +9.5%DHI FY2020: +15.5%DHI FY2021: +36.7%DHI FY2022: +20.5%DHI FY2023: +5.9%DHI FY2024: +3.8%DHI FY2025: -6.9%TOL FY2019: +1.1%TOL FY2020: -2.0%TOL FY2021: +24.2%TOL FY2022: +16.9%TOL FY2023: -2.7%TOL FY2024: +8.5%TOL FY2025: +1.1%FY19FY20FY21FY22FY23FY24FY25
DHI -6.9%TOL +1.1%
Free cash flow
DHI FY2018: $477.1MDHI FY2019: $764.9MDHI FY2020: $1.3BDHI FY2021: $440.9MDHI FY2022: $413.6MDHI FY2023: $4.2BDHI FY2024: $2BDHI FY2025: $3.3BTOL FY2018: $560MTOL FY2019: $350.7MTOL FY2020: $898.6MTOL FY2021: $1.2BTOL FY2022: $915.1MTOL FY2023: $1.2BTOL FY2024: $936.5MTOL FY2025: $1BFY18FY19FY20FY21FY22FY23FY24FY25
DHI $3.3BTOL $1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Horton D R and Toll Brothers

Which is bigger by revenue, Horton D R or Toll Brothers?

Horton D R is bigger by revenue: $34.3B in fiscal 2025, against $11B for Toll Brothers in fiscal 2025.

Which keeps more of its revenue as profit, Horton D R or Toll Brothers?

Horton D R had a net margin of 10.5% in fiscal 2025; Toll Brothers had 12.3% in fiscal 2025.

Which grew revenue faster, Horton D R or Toll Brothers?

In their latest fiscal years revenue changed by -6.9% at Horton D R and +1.1% at Toll Brothers.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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