DR Horton Inc (DHI)

Return on assets (ROA)

		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
Total assets	US$ in thousands	32,582,400	30,351,100	24,015,900	18,912,300	15,606,600
ROA		14.57%	19.30%	17.39%	12.55%	10.37%

September 30, 2023 calculation

ROA = Net income ÷ Total assets
= $4,745,700K ÷ $32,582,400K
= 14.57%

The return on assets (ROA) of D.R. Horton Inc. has shown a positive trend over the past five years, indicating the effectiveness of the company in generating earnings from its assets. The ROA has increased from 10.37% in 2019 to 14.57% in 2023, reflecting a consistent improvement in the company's ability to generate profits relative to its total assets. This suggests that management has been successful in utilizing the company's assets to generate earnings for shareholders. However, it is important to note the slight decrease in ROA from 2022 to 2023, which indicates a potential decline in the company's efficiency in utilizing its assets to generate profit in the most recent year. Further analysis would be necessary to understand the underlying reasons for this change and to assess the potential impact on the company's overall financial performance.