DR Horton Inc (DHI)

Net profit margin

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Net income	US$ in thousands	4,745,700	5,857,500	4,175,800	2,373,700	1,618,500
Revenue	US$ in thousands	35,460,400	33,480,000	27,774,200	20,311,100	17,592,900
Net profit margin		13.38%	17.50%	15.03%	11.69%	9.20%

September 30, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $4,745,700K ÷ $35,460,400K
= 13.38%

The net profit margin of D.R. Horton Inc. has exhibited fluctuations over the past five years. In 2023, the net profit margin decreased to 13.38% from 17.50% in 2022, possibly indicating a lower level of profitability relative to the preceding year. Despite this recent decline, the net profit margin has generally been on an upward trend since 2019, reflecting improved efficiency in generating profits from sales. It is noteworthy that the company's net profit margin has surpassed 15% for the last three years, a positive indicator of its ability to control costs and convert sales into profits. However, the recent dip in net profit margin may warrant further investigation into the company's cost structure and operational performance.