DR Horton Inc (DHI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	4,074,600	4,140,500	6,144,500	6,581,000	7,251,900	7,510,100	7,198,000	6,446,100	5,746,600	5,275,300	9,988,800	9,350,300	8,758,200	8,224,700	6,856,100	6,673,000	6,518,400	6,413,600	5,883,500	5,892,000
Total assets	US$ in thousands	33,381,600	32,582,400	32,323,100	31,170,800	30,264,500	30,351,100	28,869,900	26,685,300	24,999,400	24,015,900	21,793,500	21,083,800	19,780,400	18,912,300	17,973,900	17,130,000	16,322,900	15,606,600	15,224,000	15,007,000
Operating ROA		12.21%	12.71%	19.01%	21.11%	23.96%	24.74%	24.93%	24.16%	22.99%	21.97%	45.83%	44.35%	44.28%	43.49%	38.14%	38.96%	39.93%	41.10%	38.65%	39.26%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $4,074,600K ÷ $33,381,600K
= 12.21%

The operating return on assets (operating ROA) for D.R. Horton Inc. has shown a general decreasing trend over the past eight quarters. Beginning at 24.30% in March 2022, the operating ROA declined to 18.10% by December 2023. This decline indicates that the company's operating income generated from its assets has reduced over the past quarters. However, it's essential to note that even with this decline, the operating ROA has remained at relatively high levels, indicating the company's efficiency in generating operating income from its assets. Further analysis of the company's operational performance, asset management, and profitability is warranted to understand the factors driving these changes in operating ROA.