{
 "company": "D.R. Horton, Inc.",
 "ticker": "DHI",
 "sector": "Residential Construction",
 "fiscalYearEnd": null,
 "revenueUsdM": 34250.4,
 "normalizedSga": {
  "pctRevenue": 10.46,
  "peerCount": 12,
  "peerMedianPctRevenue": 11.2,
  "peerLeanQuartilePctRevenue": 8.6,
  "peers": [
   {
    "ticker": "LEN",
    "name": "Lennar Corporation",
    "normalizedSgaPctRevenue": 7.22
   },
   {
    "ticker": "TMHC",
    "name": "Taylor Morrison Home Corporation",
    "normalizedSgaPctRevenue": 8.6
   },
   {
    "ticker": "KBH",
    "name": "KB Home",
    "normalizedSgaPctRevenue": 7.12
   },
   {
    "ticker": "GRBK",
    "name": "Green Brick Partners, Inc.",
    "normalizedSgaPctRevenue": 10.85
   },
   {
    "ticker": "MHO",
    "name": "M/I Homes, Inc.",
    "normalizedSgaPctRevenue": 11.56
   },
   {
    "ticker": "TOL",
    "name": "Toll Brothers, Inc.",
    "normalizedSgaPctRevenue": 13.39
   },
   {
    "ticker": "CCS",
    "name": "Century Communities, Inc.",
    "normalizedSgaPctRevenue": 11.48
   },
   {
    "ticker": "DFH",
    "name": "Dream Finders Homes, Inc.",
    "normalizedSgaPctRevenue": 11.22
   },
   {
    "ticker": "LGIH",
    "name": "LGI Homes, Inc.",
    "normalizedSgaPctRevenue": 13.7
   },
   {
    "ticker": "BZH",
    "name": "Beazer Homes USA, Inc.",
    "normalizedSgaPctRevenue": 8.64
   },
   {
    "ticker": "SDHC",
    "name": "Smith Douglas Homes Corp.",
    "normalizedSgaPctRevenue": 13.44
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "advertising",
   "label": "Advertising",
   "pctRevenue": 0.32,
   "companiesDisclosing": 8,
   "peersDisclosing": [
    {
     "ticker": "LEN",
     "pctRevenue": 0.62
    },
    {
     "ticker": "GRBK",
     "pctRevenue": 0.18
    },
    {
     "ticker": "TOL",
     "pctRevenue": 1.08
    },
    {
     "ticker": "CCS",
     "pctRevenue": 0.78
    },
    {
     "ticker": "LGIH",
     "pctRevenue": 2.36
    },
    {
     "ticker": "BZH",
     "pctRevenue": 2.73
    },
    {
     "ticker": "SDHC",
     "pctRevenue": 0.96
    }
   ],
   "note": "Brand spend is not the overhead question here."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.38,
   "companiesDisclosing": 10,
   "peersDisclosing": [
    {
     "ticker": "LEN",
     "pctRevenue": 0.48
    },
    {
     "ticker": "GRBK",
     "pctRevenue": 0.59
    },
    {
     "ticker": "MHO",
     "pctRevenue": 0.38
    },
    {
     "ticker": "TOL",
     "pctRevenue": 0.43
    },
    {
     "ticker": "CCS",
     "pctRevenue": 0.49
    },
    {
     "ticker": "DFH",
     "pctRevenue": 0.58
    },
    {
     "ticker": "LGIH",
     "pctRevenue": 0.35
    },
    {
     "ticker": "BZH",
     "pctRevenue": 0.31
    },
    {
     "ticker": "SDHC",
     "pctRevenue": 0.38
    }
   ],
   "note": "Right at the peer median. Not distorting the overhead picture."
  }
 ],
 "gapToPeers": null,
 "tsrBridge": [
  {
   "label": "1 year",
   "span": "FY2024 to FY2025",
   "companyTsrPct": -10,
   "peerTsrPct": -19,
   "driverPp": {
    "Revenue growth": -0.7,
    "Gross margin": 15.7,
    "SG&A": 9.4,
    "Multiple": -15.7,
    "Other": 0.0
   }
  },
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": 159,
   "peerTsrPct": 92,
   "driverPp": {
    "Revenue growth": -2.5,
    "Gross margin": 12.8,
    "SG&A": 16.5,
    "Multiple": 22.9,
    "Other": 17.4
   }
  },
  {
   "label": "5 years",
   "span": "FY2020 to FY2025",
   "companyTsrPct": 135,
   "peerTsrPct": 96,
   "driverPp": {
    "Revenue growth": -11.1,
    "Gross margin": -40.9,
    "SG&A": 17.9,
    "Multiple": 64.2,
    "Other": 9.0
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/DHI",
  "json": "https://sgabenchmarking.com/r/DHI.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}