Dream Finders Homes Inc Class A Common Stock (DFH) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.3	$0.27	-10.0%	—	$1.1B	—
Q1 26	$0.2	$0.11	-45.0%	—	$887.8M	—
Q4 25	$0.64	$0.58	-9.4%	—	$1.2B	—
Q3 25	$0.5	$0.47	-6.0%	—	$969.8M	—
Q2 25	$0.61	$0.56	-8.2%	—	$1.2B	—
Q1 25	$0.63	$0.54	-14.3%	—	$989.9M	—
Q4 24	$1.1	$1.29	+17.3%	—	$1.6B	—
Q3 24	$0.84	$0.7	-16.7%	—	$1B	—
Q2 24	$0.77	$0.81	+5.2%	—	$1.1B	—
Q1 24	$0.66	$0.55	-16.7%	—	$827.8M	—
Q4 23	$0.71	$1	+40.8%	—	$1.1B	—
Q3 23	$0.6	$0.75	+25.0%	—	$895.8M	—
Q2 23	$0.36	$0.65	+80.6%	—	$945.3M	—
Q1 23	$0.26	$0.45	+73.1%	—	$769.4M	—
Q4 22	$0.81	$0.78	-3.7%	—	$1.1B	—
Q3 22	$0.71	$0.64	-9.9%	—	$785.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.19	—	—	$4.3B	—
FY24	—	$3.44	—	—	$4.5B	—
FY23	—	$3.03	—	—	$3.7B	—
FY22	—	$2.67	—	—	$3.3B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$522.3M	$744.3M	$1.1B	$1.9B	$3.3B	$3.7B	$4.5B	$4.3B
YoY change	—	+42.5%	+52.3%	+69.7%	+73.7%	+12.2%	+18.8%	-2.89%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	522.3M	744.3M	1.1B	1.9B	3.3B	3.7B	4.5B	4.3B
Cost of revenue	454.4M	641.3M	962.9M	1.6B	2.7B	3B	3.6B	3.6B
Gross profit	67.9M	103M	170.9M	313.6M	620.2M	736.8M	828.6M	754.8M
Gross margin	13%	13.8%	15.1%	16.3%	18.6%	19.7%	18.6%	17.5%
Research & development	—	—	—	—	—	—	—	—
Selling, general & administrative	43.5M	63.6M	90.4M	154.4M	271M	308.8M	395.8M	485.2M
Operating expenses	43.5M	63.6M	90.4M	154.4M	271M	308.8M	395.8M	485.2M
Operating income	24.3M	39.4M	80.5M	159.2M	349.2M	428M	432.8M	269.6M
Operating margin	4.65%	5.29%	7.1%	8.27%	10.4%	11.4%	9.72%	6.24%
Non-operating income, net	-366.9K	5.7M	4.9M	2.9M	7M	-23.6M	5M	14.5M
Pretax income	23.3M	44.9M	84.5M	162M	356.2M	404.4M	437.9M	284.1M
Income tax	—	0	0	27.5M	81.9M	96.5M	97.3M	66.7M
Net income	23.3M	44.9M	84.5M	134.6M	274.3M	307.9M	340.6M	217.4M
Net margin	4.45%	6.03%	7.45%	7%	8.21%	8.21%	7.65%	5.03%
EBITDA	24.6M	47.2M	94.6M	176.6M	377.3M	492.5M	464M	288.9M
EPS	168.8	395.6	0.87	1.27	2.67	3.03	3.44	2.19
Diluted EPS	167.5	392.5	0.87	1.27	2.45	2.79	3.34	2.14

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	895.8M	1.1B	827.8M	1.1B	1B	1.6B	989.9M	1.2B	969.8M	1.2B	887.8M	1.1B
Cost of revenue	710.7M	902.3M	678.6M	852.8M	809.3M	1.3B	796.4M	957.9M	801M	1B	758.4M	909M
Gross profit	185.1M	235.7M	149.2M	202.9M	197.6M	282.6M	193.5M	192.6M	168.8M	199.9M	129.5M	154.4M
Gross margin	20.7%	20.7%	18%	19.2%	19.6%	18.1%	19.5%	16.7%	17.4%	16.5%	14.6%	14.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	78.5M	94.4M	81.8M	98.9M	101.9M	116.8M	116.7M	134.7M	109.5M	124.3M	110.9M	128.4M
Operating expenses	78.5M	94.4M	81.8M	98.9M	101.9M	116.8M	116.7M	134.7M	109.5M	124.3M	110.9M	128.4M
Operating income	106.6M	141.3M	67.4M	104M	95.7M	165.8M	76.8M	57.9M	59.3M	75.6M	18.6M	26M
Operating margin	11.9%	12.4%	8.14%	9.85%	9.51%	10.6%	7.76%	5.03%	6.11%	6.24%	2.09%	2.44%
Non-operating income, net	-2.8M	-5.9M	3.5M	2M	-3.3M	2.8M	-5.6M	16.2M	1.5M	2.5M	224K	10.9M
Pretax income	103.8M	135.4M	70.8M	106M	92.4M	168.6M	71.2M	74.1M	60.8M	78.1M	18.8M	36.8M
Income tax	24.2M	30.5M	15.1M	23.2M	20.8M	38.1M	16.2M	17.5M	13.7M	19.3M	5.2M	9M
Net income	79.6M	104.9M	55.7M	82.8M	71.6M	130.5M	55M	56.5M	47.1M	58.8M	13.6M	27.8M
Net margin	8.89%	9.22%	6.73%	7.84%	7.12%	8.36%	5.56%	4.91%	4.85%	4.85%	1.53%	2.62%
EBITDA	120.1M	159.8M	74.6M	113M	105.5M	170.9M	85.2M	52.8M	67.6M	83.3M	26.9M	34.9M
EPS	0.79	—	0.55	0.83	0.72	1.35	0.55	0.57	0.47	0.6	0.11	0.27
Diluted EPS	0.75	—	0.55	0.81	0.7	1.29	0.54	0.56	0.47	0.58	0.11	0.27

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	1.8B	803.2M	3.3B	2.2B	1.6B	985M
Enterprise value	—	—	—	2.4B	1.4B	3.7B	3.2B	3B	2.8B
Shares outstanding	99.1K	99.1K	91.1M	92.5M	92.7M	93.1M	93.5M	93.1M	93.1M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	13.4	2.93	10.7	6.39	7.32	8.01
P/S	—	—	—	0.94	0.24	0.88	0.49	0.37	0.25
P/B	—	—	—	3.23	1	3.04	1.53	0.99	0.72
EV/EBITDA	—	—	—	13.3	3.79	7.43	6.91	10.3	13.9
EV/Sales	—	—	—	1.22	0.43	0.98	0.72	0.69	0.68
Earnings yield	—	—	—	7.48%	34.2%	9.31%	15.7%	13.7%	12.5%
FCF yield	—	—	—	3.46%	-4.13%	11.2%	-13%	-7.94%	-22.1%
PEG	—	—	—	—	—	—	—	—	-0.15

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	13%	13.8%	15.1%	16.3%	18.6%	19.7%	18.6%	17.5%	14.5%
Operating margin	4.65%	5.29%	7.1%	8.27%	10.4%	11.4%	9.72%	6.24%	2.41%
Net margin	4.45%	6.03%	7.45%	7%	8.21%	8.21%	7.65%	5.03%	3.55%
ROE	29.9%	30.9%	39.9%	24.2%	34.3%	28.4%	24%	13.6%	9.42%
ROA	6.2%	8.72%	11.5%	7.11%	11.6%	12%	10.2%	5.83%	3.03%
ROIC	—	11.3%	16%	11.9%	18.8%	22.7%	13.7%	6.93%	4.21%
Return on tangible assets	6.42%	9.63%	12.6%	8.78%	13.6%	13.9%	12.5%	7.31%	4.59%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.29	1.36	1.31	1.16	1.27	1.93	1.57	1.67	7.59
Quick ratio	0.14	0.22	0.24	0.26	0.31	0.55	0.44	0.34	0.27
Debt / equity	2.47	1.7	1.58	1.41	1.24	0.78	0.92	1	1.13
Debt / assets	0.51	0.48	0.46	0.41	0.42	0.33	0.39	0.43	0.46
Net debt / EBITDA	7	4.32	3.07	3.15	1.66	0.71	2.22	4.75	7.58
Interest coverage	35.1	203.7	98	236.8	10.9K	—	—	—	—
Effective tax rate	—	0%	0%	16.9%	23%	23.9%	22.2%	23.5%	24.3%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.3K	7.5K	12.4	20.8	36	40.3	47.6	46.4	44.8
EPS (basic)	168.8	395.6	0.87	1.27	2.67	3.03	3.44	2.19	2.19
EPS (diluted)	167.5	392.5	0.87	1.27	2.45	2.79	3.34	2.14	1.41
Book value per share	786.3	1.5K	2.33	6.01	8.63	11.7	15.2	17.2	15.7
FCF per share	-127.9	278	1.03	0.67	-0.36	3.97	-3.02	-1.36	-1.77
Cash per share	200	444.2	0.48	2.46	3.93	5.31	2.93	2.52	2.24
Capex per share	44.3	28.3	0.03	0.02	0.06	0.05	0.27	—	—

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.84%	0.38%	0.24%	0.12%	0.16%	0.12%	0.57%	—	—
Capex / operating cash flow	-10%	12.5%	2.04%	1.62%	-9.1%	1.37%	-28.5%	—	—
Payout ratio	50.3%	18.5%	20.4%	34.6%	13.4%	8.18%	3.96%	6.21%	0%
Dividend yield	—	—	—	2.59%	4.58%	0.76%	0.62%	0.85%	0.85%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	19.8M	44M	43.7M	227.2M	364.5M	494.1M	274.4M	234.8M
Receivables	—	—	16.8M	33.5M	43.5M	30.9M	34.1M	39.1M
Inventory	293.7M	364.1M	484.4M	1.1B	1.4B	1.4B	1.7B	2B
Total current assets	330.4M	432.8M	594.5M	1.4B	1.8B	2B	2.4B	2.6B
Property, plant & equipment	33.4M	44M	85.1M	267.2M	308.3M	274.1M	501.8M	545.3M
Goodwill & intangibles	13.2M	48.9M	62.5M	362.1M	349.4M	344.4M	600.6M	754.7M
Total assets	375.4M	514.9M	733.7M	1.9B	2.4B	2.6B	3.3B	3.7B
Accounts payable	31.9M	37.8M	37.4M	113.5M	134.7M	134.1M	147.1M	126.1M
Short-term debt	163.2M	217.7M	289.9M	763.3M	966.2M	530.4M	991M	1B
Total current liabilities	255.2M	318M	454.1M	1.2B	1.4B	1B	1.5B	1.5B
Long-term debt	28.8M	29.9M	44.4M	19.8M	24.7M	315M	313.2M	591.1M
Total liabilities	297.5M	369.7M	521.7M	1.3B	1.6B	1.5B	1.9B	2.1B
Shareholders' equity	77.9M	145.2M	212M	556.4M	800.7M	1.1B	1.4B	1.6B
Total debt	192.1M	247.6M	334.3M	783.1M	990.9M	845.4M	1.3B	1.6B
Net debt	172.3M	203.6M	290.6M	555.9M	626.4M	351.3M	1B	1.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	330.1M	494.1M	239.4M	274.8M	204.9M	274.4M	297.5M	210.3M	251M	234.8M	435.4M	203.5M
Receivables	33.3M	30.9M	28.2M	33M	30.2M	34.1M	31M	43.9M	53M	39.1M	32.8M	29.5M
Inventory	1.5B	1.4B	1.7B	1.9B	2.1B	1.7B	1.9B	2B	2.1B	2B	2.1B	2.3B
Total current assets	1.9B	2B	2B	2.2B	2.5B	2.4B	2.4B	2.4B	2.6B	2.6B	2.8B	2.8B
Property, plant & equipment	270.5M	274.1M	296.3M	328.2M	411.4M	501.8M	567M	531.2M	551.3M	545.3M	534.2M	501.8M
Goodwill & intangibles	344.4M	344.4M	610.1M	600.6M	600.6M	600.6M	692M	755.5M	750.3M	754.7M	754.7M	754.7M
Total assets	2.4B	2.6B	2.7B	3B	3.3B	3.3B	3.5B	3.7B	3.8B	3.7B	4B	4B
Accounts payable	137.1M	134.1M	144.5M	180.9M	169M	147.1M	142.7M	174M	165.3M	126.1M	123.2M	156.1M
Short-term debt	555.5M	530.4M	710.3M	890.9M	1.2B	991M	1.2B	1.3B	1.2B	1B	1.3B	1.2B
Total current liabilities	979.1M	1B	1.1B	1.4B	1.6B	1.5B	1.6B	1.8B	1.7B	1.5B	1.8B	1.8B
Long-term debt	316M	315M	315.1M	313.7M	314.2M	313.2M	317.5M	295.7M	590.5M	591.1M	591.7M	592.3M
Total liabilities	1.4B	1.5B	1.6B	1.8B	2B	1.9B	2B	2.1B	2.3B	2.1B	2.4B	2.3B
Shareholders' equity	986.1M	1.1B	1.2B	1.2B	1.3B	1.4B	1.5B	1.5B	1.6B	1.6B	1.6B	1.6B
Total debt	871.5M	845.4M	1B	1.2B	1.5B	1.3B	1.5B	1.6B	1.8B	1.6B	1.9B	1.8B
Net debt	541.4M	351.3M	785.9M	929.8M	1.3B	1B	1.2B	1.4B	1.5B	1.4B	1.5B	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	23.3M	44.9M	84.5M	134.6M	274.3M	307.9M	340.6M	217.4M
Depreciation & amortization	3.9M	6M	7.9M	9.9M	17.1M	17.9M	17.2M	29.2M
Stock-based compensation	895.6K	895K	947K	5.2M	6.8M	14.1M	18.8M	24.9M
Change in working capital	-75M	-27.8M	34.6M	-24.1M	-364M	-29.1M	-427.6M	-191M
Operating cash flow	-43.8M	22.4M	131.4M	139.9M	-59.2M	322.8M	-88.8M	-100.6M
Capital expenditure	4.4M	-2.8M	-2.7M	-2.3M	-5.4M	-4.4M	-25.3M	—
Investing cash flow	2.6M	-17.8M	-13M	-523M	-5.5M	-4.5M	-221.7M	-200.1M
Dividends paid	-11.7M	-8.3M	-17.3M	-46.6M	-36.8M	-25.2M	-13.5M	-13.5M
Share repurchases	0	0	-13M	-25.5M	0	-11.4M	-20.3M	-49.6M
Financing cash flow	-430.1M	-496.8M	-809.2M	-804.6M	-10.7B	-6.1B	-420.7M	-1.2B
Net change in cash	-471.3M	-492.3M	-690.8M	-1.2B	-10.7B	-5.7B	-731.2M	-1.5B
Free cash flow	-12.7M	27.5M	94M	62.2M	-33.2M	369.5M	-282M	-126.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	79.6M	104.9M	55.7M	82.8M	71.6M	130.5M	55M	56.5M	47.1M	58.8M	13.6M	27.8M
Depreciation & amortization	4.5M	4.5M	4M	4.3M	3.8M	5M	7.3M	7.6M	6.5M	7.7M	8.3M	9M
Stock-based compensation	3.8M	3.8M	3.5M	5.1M	5.1M	5.1M	9.5M	5.3M	5.3M	4.9M	5.2M	5.6M
Change in working capital	-59.6M	35.2M	-170.1M	-227.1M	-223.1M	192.7M	11.8M	-112.3M	-132.7M	39.8M	-43.2M	-237.4M
Operating cash flow	34.4M	145.3M	-108.2M	-143.3M	-131.6M	300.4M	83.2M	-66.6M	-131M	143.6M	-49.5M	-101.5M
Capital expenditure	-754K	-709K	-2M	-1.8M	-17.5M	-4M	-3.1M	-10.1M	—	—	—	—
Investing cash flow	-1.1M	-479K	-186M	-3.7M	-7.8M	-24.1M	-115.6M	-81.7M	65K	-16.2M	-5.8M	214K
Dividends paid	-3.1M	-15.3M	-3.4M	0	-6.8M	-3.4M	-3.4M	-3.4M	-3.4M	-3.4M	-3.4M	-3.4M
Share repurchases	-11.1M	0	-10.5M	-3.9M	-4.8M	-1.2M	-13.8M	-17.1M	-9.7M	-9M	-23.6M	-14.9M
Financing cash flow	-668.4M	-59M	52.8M	143.1M	43.8M	-660.4M	-43.4M	-79.7M	-328.1M	-721.6M	199.8M	-388.4M
Net change in cash	-635M	85.8M	-241.4M	-3.9M	-95.6M	-384.1M	-75.8M	-228M	-459M	-594.2M	144.4M	-489.7M
Free cash flow	86.1M	218.6M	-249.6M	-112.4M	-222.5M	302.6M	-47.9M	-78.8M	-135.7M	136M	-54.8M	-107.2M

Dream Finders Homes Inc Class A Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement