Dream Finders Homes, Inc. Financials
This page shows Dream Finders Homes, Inc. (DFH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Dream Finders Homes, Inc.'s revenue declined 2.9% year-over-year, from $4.4B to $4.3B. This contraction results in a growth score of 29/100.
Dream Finders Homes, Inc. carries a low D/E ratio of 1.13, meaning only $1.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.
While Dream Finders Homes, Inc. generated -$100.6M in operating cash flow, capex of $25.8M consumed most of it, leaving -$126.4M in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.
Dream Finders Homes, Inc.'s ROE of 15.3% shows moderate profitability relative to equity, earning a score of 45/100. This is down from 26.9% the prior year.
Dream Finders Homes, Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Dream Finders Homes, Inc. generates $-0.46 in operating cash flow (-$100.6M OCF vs $217.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Dream Finders Homes, Inc. generated $4.3B in revenue in fiscal year 2025. This represents a decrease of 2.9% from the prior year.
Dream Finders Homes, Inc. reported $217.2M in net income in fiscal year 2025. This represents a decrease of 35.2% from the prior year.
Dream Finders Homes, Inc. earned $2.14 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 35.9% from the prior year.
Cash & Balance Sheet
Dream Finders Homes, Inc. generated -$126.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 55.2% from the prior year.
Dream Finders Homes, Inc. held $234.8M in cash against $1.6B in long-term debt as of fiscal year 2025.
Margins & Returns
Dream Finders Homes, Inc.'s net profit margin was 5.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.5 percentage points from the prior year.
Dream Finders Homes, Inc.'s ROE was 15.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.7 percentage points from the prior year.
Capital Allocation
Dream Finders Homes, Inc. spent $41.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 432.8% from the prior year.
Dream Finders Homes, Inc. invested $25.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1.8% from the prior year.
DFH Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B+25.0% | $969.8M-15.7% | $1.2B+16.2% | $989.9M-36.5% | $1.6B+55.0% | $1.0B-4.7% | $1.1B+27.5% | $827.8M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $852.8M+25.7% | $678.6M |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $124.3M+13.5% | $109.5M-18.7% | $134.7M+15.4% | $116.7M+0.2% | $116.4M+14.5% | $101.7M+5.0% | $96.9M+20.9% | $80.1M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $19.3M+41.1% | $13.7M-21.9% | $17.5M+8.5% | $16.2M-57.6% | $38.1M+83.4% | $20.8M-10.6% | $23.2M+53.5% | $15.1M |
| Net Income | $58.7M+24.9% | $47.0M-16.9% | $56.6M+3.1% | $54.9M-57.5% | $129.3M+82.9% | $70.7M-12.7% | $80.9M+48.5% | $54.5M |
| EPS (Diluted) | N/A | $0.47-16.1% | $0.56+3.7% | $0.54 | N/A | $0.70-13.6% | $0.81+47.3% | $0.55 |
DFH Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.7B-2.8% | $3.8B+5.1% | $3.7B+4.6% | $3.5B+4.8% | $3.3B+0.1% | $3.3B+11.4% | $3.0B+9.9% | $2.7B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $234.8M-6.5% | $251.0M+19.4% | $210.3M-29.3% | $297.5M+8.4% | $274.4M+33.9% | $204.9M-25.4% | $274.8M+14.8% | $239.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $39.1M-26.3% | $53.0M+21.0% | $43.9M+41.7% | $31.0M-9.3% | $34.1M+13.0% | $30.2M-8.5% | $33.0M+17.0% | $28.2M |
| Goodwill | $377.4M+0.6% | $375.1M-0.7% | $377.8M+9.2% | $346.0M+15.2% | $300.3M0.0% | $300.3M0.0% | $300.3M-1.6% | $305.1M |
| Total Liabilities | $2.1B-7.0% | $2.3B+6.8% | $2.1B+5.9% | $2.0B+5.7% | $1.9B-6.2% | $2.0B+15.4% | $1.8B+12.6% | $1.6B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $1.6B-9.1% | $1.8B | N/A | N/A | $1.3B | N/A | N/A | N/A |
| Total Equity | $1.4B+3.7% | $1.4B+2.9% | $1.3B+3.3% | $1.3B+3.8% | $1.2B+11.6% | $1.1B+6.5% | $1.0B+8.1% | $968.7M |
| Retained Earnings | $1.2B+4.9% | $1.1B+4.1% | $1.1B+5.2% | $1.0B+5.3% | $970.3M+14.9% | $844.4M+8.7% | $777.1M+11.1% | $699.5M |
DFH Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $143.6M+209.6% | -$131.0M-91.2% | -$68.5M-53.2% | -$44.7M-114.6% | $306.5M+249.5% | -$205.0M-85.3% | -$110.6M+55.3% | -$247.5M |
| Capital Expenditures | $7.6M+59.5% | $4.7M-53.9% | $10.3M+225.7% | $3.2M-18.9% | $3.9M-77.8% | $17.6M+865.5% | $1.8M-12.3% | $2.1M |
| Free Cash Flow | $136.0M+200.2% | -$135.7M-72.3% | -$78.8M-64.6% | -$47.9M-115.8% | $302.6M+236.0% | -$222.5M-98.0% | -$112.4M+55.0% | -$249.6M |
| Investing Cash Flow | -$23.9M-413.0% | -$4.7M+94.3% | -$81.7M+29.4% | -$115.6M-378.9% | -$24.1M-208.4% | -$7.8M-111.6% | -$3.7M+98.0% | -$186.0M |
| Financing Cash Flow | -$125.5M-174.9% | $167.4M+176.9% | $60.5M-64.1% | $168.6M+196.1% | -$175.3M-217.7% | $149.0M+4.1% | $143.1M-6.4% | $152.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $9.0M-6.9% | $9.7M-39.8% | $16.1M+130.6% | $7.0M+501.8% | $1.2M-76.0% | $4.8M+161.3% | $1.8M | $0 |
DFH Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 4.8%-0.0pp | 4.9%-0.1pp | 4.9%-0.6pp | 5.5%-2.7pp | 8.3%+1.3pp | 7.0%-0.7pp | 7.7%+1.1pp | 6.6% |
| Return on Equity | 4.1%+0.7pp | 3.4%-0.8pp | 4.2%-0.0pp | 4.3%-6.1pp | 10.4%+4.0pp | 6.3%-1.4pp | 7.7%+2.1pp | 5.6% |
| Return on Assets | 1.6%+0.4pp | 1.2%-0.3pp | 1.6%-0.0pp | 1.6%-2.3pp | 3.9%+1.8pp | 2.1%-0.6pp | 2.7%+0.7pp | 2.0% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.13-0.2 | 1.29-0.3 | 1.60+0.0 | 1.56+0.5 | 1.03-0.8 | 1.82+0.1 | 1.68+0.1 | 1.62 |
| FCF Margin | 11.2%+25.2pp | -14.0%-7.2pp | -6.9%-2.0pp | -4.8%-24.2pp | 19.4%+41.5pp | -22.1%-11.5pp | -10.7%+19.5pp | -30.1% |
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Frequently Asked Questions
What is Dream Finders Homes, Inc.'s annual revenue?
Dream Finders Homes, Inc. (DFH) reported $4.3B in total revenue for fiscal year 2025. This represents a -2.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Dream Finders Homes, Inc.'s revenue growing?
Dream Finders Homes, Inc. (DFH) revenue declined by 2.9% year-over-year, from $4.4B to $4.3B in fiscal year 2025.
Is Dream Finders Homes, Inc. profitable?
Yes, Dream Finders Homes, Inc. (DFH) reported a net income of $217.2M in fiscal year 2025, with a net profit margin of 5.0%.
How much debt does Dream Finders Homes, Inc. have?
As of fiscal year 2025, Dream Finders Homes, Inc. (DFH) had $234.8M in cash and equivalents against $1.6B in long-term debt.
What is Dream Finders Homes, Inc.'s net profit margin?
Dream Finders Homes, Inc. (DFH) had a net profit margin of 5.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Dream Finders Homes, Inc.'s return on equity (ROE)?
Dream Finders Homes, Inc. (DFH) has a return on equity of 15.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Dream Finders Homes, Inc.'s free cash flow?
Dream Finders Homes, Inc. (DFH) generated -$126.4M in free cash flow during fiscal year 2025. This represents a 55.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Dream Finders Homes, Inc.'s operating cash flow?
Dream Finders Homes, Inc. (DFH) generated -$100.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Dream Finders Homes, Inc.'s total assets?
Dream Finders Homes, Inc. (DFH) had $3.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Dream Finders Homes, Inc.'s capital expenditures?
Dream Finders Homes, Inc. (DFH) invested $25.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Dream Finders Homes, Inc.'s debt-to-equity ratio?
Dream Finders Homes, Inc. (DFH) had a debt-to-equity ratio of 1.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Dream Finders Homes, Inc.'s return on assets (ROA)?
Dream Finders Homes, Inc. (DFH) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Dream Finders Homes, Inc.'s cash runway?
Based on fiscal year 2025 data, Dream Finders Homes, Inc. (DFH) had $234.8M in cash against an annual operating cash burn of $100.6M. This gives an estimated cash runway of approximately 28 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Dream Finders Homes, Inc.'s Piotroski F-Score?
Dream Finders Homes, Inc. (DFH) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Dream Finders Homes, Inc.'s earnings high quality?
Dream Finders Homes, Inc. (DFH) has an earnings quality ratio of -0.46x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Dream Finders Homes, Inc.?
Dream Finders Homes, Inc. (DFH) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.