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Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 1
HOLD 3
SELL 1
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SELL
0
| PRICE TARGET: $38.00 DETAILS
HIGH: $38.00
LOW: $38.00
MEDIAN: $38.00
CONSENSUS: $38.00
UPSIDE: 160.45%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Revenue
Revenue 887.8 1,212.7 969.8 1,150.5 989.9 1,560.8 1,006.9 1,055.7 827.8 1,138.0 895.8 945.3 769.4 1,099.5 785.7 793.1 664.1 852.1 363.0 365.3 343.6 461.1 284.2 305.0 188.7 253.4
Cost of Revenue 758.4 1,057.8 755.9 957.9 796.4 1,278.2 809.3 852.8 678.6 902.3 709.3 762.9 637.3 909.4 638.5 635.4 538.9 712.3 303.4 303.6 291.0 387.2 240.7 267.0 163.7 216.3
Gross Profit 129.5 154.9 213.9 192.6 193.5 282.6 197.6 202.9 149.2 235.7 186.5 182.5 132.1 190.1 147.2 157.7 125.2 139.8 59.6 61.7 52.5 73.9 43.5 38.0 25.0 37.1
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 110.9 124.3 109.5 134.7 116.7 116.8 101.9 98.9 81.8 94.4 80.0 73.7 60.8 74.5 68.8 66.0 61.7 61.0 32.4 28.7 28.1 35.2 19.9 30.3 17.5 18.3
Other Expenses (0.8) (45.1) 45.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 110.1 79.2 154.6 134.7 116.7 116.8 101.9 98.9 81.8 94.4 80.0 73.7 60.8 74.5 68.8 66.0 61.7 61.0 32.4 28.7 28.1 35.2 19.9 30.3 17.5 18.3
Operating Income
Operating Income 19.4 75.6 59.3 57.9 76.8 165.8 95.7 104.0 67.4 141.3 106.6 108.8 71.3 115.6 78.4 91.7 63.5 78.7 27.2 33.0 24.4 38.6 23.6 7.7 7.5 18.7
Interest Expense 0 0 0 0 0 0 0 0 0 0 124.3 117.4 0 0.0 0.0 0.0 0.0 0 0.0 0.0 0.6 0.7 0.0 0.0 0.0 0.1
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 27.7 85.8 67.3 81.7 84.1 170.8 99.6 108.3 71.4 145.8 111.1 100.4 73.8 126.2 87.4 93.3 69.7 79.6 29.6 38.4 24.8 43.9 25.7 17.5 9.1 20.3
EBIT 19.4 78.1 60.8 74.1 76.8 165.8 95.7 104.0 67.4 141.3 106.6 95.8 69.4 121.3 82.0 89.7 63.2 75.4 27.7 36.6 23.1 40.9 24.1 15.1 7.8 18.6
Income Before Tax 18.8 78.1 60.8 74.1 71.2 168.6 92.4 106.0 70.8 135.4 103.8 95.8 69.4 121.3 82.0 89.7 63.2 75.4 27.7 36.5 22.4 40.2 24.1 15.1 7.8 18.5
Income Tax Expense 5.2 19.3 13.7 17.5 16.2 38.1 20.8 23.2 15.1 30.5 24.2 24.2 17.6 31.3 10.4 23.3 16.9 14.0 4.1 4.5 4.8 0 0 0 0 0
Net Income 13.3 58.7 47.0 56.6 54.9 129.3 70.7 80.9 54.5 102.0 76.1 68.8 49.1 86.3 69.6 62.6 43.7 57.3 19.1 28.4 16.1 38.2 22.6 14.3 6.6 11.0
Per Share Data
EPS (Basic) 0.11 0.70 0.51 0.57 0.55 1.35 0.72 0.83 0.55 1.06 0.79 0.70 0.49 0.89 0.71 0.64 0.43 0.58 0.20 0.31 0.16 0.41 0.24 0.15 0.07 0.12
EPS (Diluted) 0.11 0.64 0.47 0.52 0.51 1.25 0.67 0.77 0.51 0.97 0.72 0.62 0.42 0.74 0.61 0.56 0.39 0.58 0.20 0.31 0.16 0.41 0.24 0.15 0.07 0.12
Shares Outstanding 92.0 92.6 92.8 93.5 93.5 93.5 93.5 93.7 93.3 93.1 93.1 93.1 92.9 92.8 92.8 92.8 92.8 92.5 92.5 92.5 92.6 92.5 92.5 92.5 92.5 92.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2019 Q4
Current Assets
Cash & Cash Equivalents 479.0 234.8 251.0 210.3 297.5 274.4 204.9 274.8 239.4 494.1 330.1 292.5 266.6 364.5 123.7 84.1 100.1 227.2 85.5 6.2 42.3 43.7 58.2 44.0
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 32.8 39.1 53.0 43.9 31.0 34.1 30.2 33.0 28.2 30.9 33.3 31.4 33.6 43.5 37.9 30.3 33.5 33.5 31.8 51.0 0 16.8 0 0
Inventory 2,140.6 2,025.7 2,145.6 1,990.8 1,852.7 1,715.4 2,060.2 1,897.5 1,733.5 1,440.2 1,473.9 1,417.3 1,434.9 1,378.2 1,512.8 1,356.0 1,232.1 1,066.7 666.5 631.0 550.4 484.4 552.9 364.1
Other Current Assets 0 0 153.4 200.3 240.1 368.8 205.6 21.8 28.4 54.3 33.2 33.1 30.9 30.6 38.0 45.3 60.9 54.1 181.9 46.9 49.4 49.7 0 24.7
Total Current Assets 2,652.5 2,299.5 2,603.2 2,445.3 2,421.2 2,392.7 2,500.8 2,227.2 2,029.5 2,019.6 1,870.5 1,774.3 1,765.9 1,816.8 1,712.5 1,515.7 1,426.6 1,381.5 965.7 735.1 642.1 594.5 611.2 432.8
Non-Current Assets
Property, Plant & Equipment 0 0 551.3 531.2 567.0 501.8 411.4 328.2 296.3 274.5 270.5 277.5 293.1 308.7 323.0 320.0 308.6 267.6 173.3 125.0 110.1 85.1 18.6 44.0
Goodwill 377.4 377.4 375.1 377.8 346.0 300.3 300.3 300.3 305.1 172.2 172.2 172.2 172.2 172.2 172.2 171.9 171.9 171.9 30.4 30.4 30.4 28.6 36.4 12.2
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6.1 7.1 8.1 9.1 2.0 2.2 2.3 2.7 0 24.4
Long-Term Investments 20.3 26.6 10.8 12.1 12.1 11.5 6.6 20.6 17.7 15.4 14.3 13.9 13.5 14.0 11.4 14.2 14.5 16.0 7.3 7.5 6.2 4.5 1.6 8.4
Other Non-Current Assets 922.8 (26.6) 294.8 283.7 141.7 122.4 105.6 109.0 68.3 80.8 56.5 50.3 64.1 54.9 56.0 78.9 57.4 44.0 49.9 28.9 75.0 18.3 64.6 17.5
Total Non-Current Assets 1,320.4 377.4 1,232.1 1,204.7 1,066.8 936.0 823.8 758.1 687.4 542.9 513.5 513.9 542.9 554.3 574.8 597.1 565.9 512.8 266.9 197.2 224.6 139.2 121.1 82.1
Total Assets 3,972.9 3,727.5 3,835.2 3,650.1 3,488.0 3,328.7 3,324.7 2,985.2 2,716.9 2,562.4 2,384.0 2,288.2 2,308.8 2,371.1 2,287.3 2,112.8 1,992.5 1,894.2 1,232.6 932.3 866.7 733.7 732.3 514.9
Current Liabilities
Account Payables 123.2 126.1 165.3 174.0 142.7 147.1 169.0 180.9 144.5 134.1 137.1 124.2 134.7 134.7 147.5 130.1 136.7 113.5 72.3 34.2 53.4 37.4 60.9 37.8
Short-Term Debt 0 591.1 1,175.6 1,284.6 1,181.1 991.0 1,161.4 890.9 710.3 530.4 555.5 875.7 916.0 966.2 975 875 770 763.3 440 365 320.0 289.9 0 217.7
Deferred Revenue 0 69.6 88.6 84.8 103.3 125.6 130.2 129.0 169.3 172.6 163.5 163.2 165.9 145.7 170.8 190.9 206.1 177.7 109.8 93.3 77.4 59.4 0 20.2
Other Current Liabilities 365.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 81.6 0
Total Current Liabilities 489.1 786.8 1,676.3 1,826.7 1,630.0 1,527.1 1,647.2 1,382.4 1,137.9 1,044.5 979.1 1,252.9 1,320.6 1,430.7 1,426.6 1,322.9 1,239.6 1,194.0 687.8 558.4 524.3 454.1 142.4 318.0
Non-Current Liabilities
Long-Term Debt 1,889.0 0 590.5 295.7 295.4 295.0 294.7 294.6 294.2 293.9 293.6 0 0 0 1.4 1.6 1.7 3.3 3.9 4.0 3.9 29.7 264.7 14.3
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 54.3
Other Non-Current Liabilities 0 1,336.6 15.7 13.9 69.1 68.0 73.5 67.5 113.0 116.8 102.8 93.5 114.0 115.1 118.2 271.2 283.7 120.8 72.8 (59.5) (46.5) (36.2) 26.3 5.5
Total Non-Current Liabilities 1,889.0 1,336.6 606.2 309.6 386.6 381.2 387.7 381.2 428.0 431.8 418.9 115.8 137.8 139.8 144.3 298.4 312.5 143.9 199.7 51.2 48.7 67.6 304.4 109.9
Total Liabilities 2,378.1 2,123.4 2,282.5 2,136.3 2,016.6 1,908.3 2,034.9 1,763.7 1,565.9 1,476.3 1,398.0 1,368.7 1,458.3 1,570.4 1,570.9 1,621.3 1,552.1 1,337.9 887.6 609.6 573.0 521.7 446.8 427.9
Stockholders' Equity
Common Stock 1.0 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 124.4 221.4 56.5
Retained Earnings 1,183.8 1,174.0 1,118.6 1,075.0 1,021.8 970.3 844.4 777.1 699.5 648.4 549.8 476.7 411.5 366.0 283.3 217.3 158.6 118.2 64.6 45.6 17.2 0 0 0
Accumulated Other Comprehensive Income (0.5) 0.6 0.6 0.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 1,563.5 1,572.5 1,521.8 1,482.6 1,440.6 1,393.4 1,263.6 1,196.0 1,117.2 1,073.1 970.7 905.0 835.9 787.7 702.9 479.5 418.9 532.3 322.2 301.8 272.0 180.1 253.1 56.5
Total Liabilities & Equity 3,972.9 3,727.5 3,835.2 3,650.1 3,488.0 3,328.7 3,324.7 2,985.2 2,716.9 2,562.4 2,384.0 2,288.2 2,308.8 2,371.1 2,287.3 2,112.8 1,992.5 1,894.2 1,232.6 932.3 866.7 733.7 732.3 514.9
Debt Metrics
Total Debt 1,889.0 591.1 1,766.1 1,580.4 1,498.5 1,304.2 1,475.6 1,204.6 1,025.4 845.4 871.5 898.0 939.8 990.9 1,001.1 902.2 798.8 786.4 457.1 382.4 337.9 334.3 278.1 247.6
Net Debt 1,410.0 356.3 1,515.1 1,370.0 1,201.0 1,029.8 1,270.7 929.8 785.9 351.3 541.4 605.5 673.2 626.4 877.4 818.1 698.6 559.2 371.6 376.2 295.6 290.6 219.8 203.6
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Operating Activities
Net Income 13.3 58.8 47.1 56.5 55.0 129.3 71.6 82.8 55.7 102.0 76.1 71.6 51.8 90.0 71.6 66.4 46.3 61.4 23.6 28.6 17.6 40.2 24.1 12.5 7.8 18.5
Depreciation & Amortization 8.3 7.7 6.5 7.6 7.3 5.0 3.8 4.3 4.0 4.5 4.5 4.5 4.4 4.9 5.4 3.6 3.1 4.2 1.9 1.9 1.7 2.9 1.6 2.1 1.3 1.7
Stock-Based Compensation 0 4.9 5.3 5.3 9.5 5.1 5.1 5.1 3.5 0 0 4.0 2.4 2.0 1.6 1.9 1.4 1.2 1.5 0 1.1 0.2 0.2 0.2 0.2 0.3
Change in Working Capital (77.6) 155.4 (201.4) (114.2) (116.1) 195.3 (293.0) (190.7) (307.0) 110.7 (4.7) 19.4 (99.4) 156.7 (124.1) (171.2) (196.6) 120.6 (40.2) (124.1) (47.4) 50.6 3.0 (22.5) (29.7) 33.7
Other Non-Cash Items 6.0 (102.8) 2.5 (32.4) 1.4 (3.5) 6.1 (23.1) (2.0) 19.5 14.3 5.7 5.3 (6.4) (0.7) 6.3 6.4 0.8 1.5 19.9 0.3 (1.8) 2.3 1.0 (0.9) (4.0)
Operating Cash Flow (49.5) 143.6 (131.0) (68.5) (44.7) 306.5 (205.0) (110.6) (247.5) 219.5 87.0 103.4 (35.6) 248.7 (64.6) (93.3) (122.5) 188.3 (25.0) (73.8) (22.4) 92.2 31.2 (6.7) (21.3) 49.9
Investing Activities
Capital Expenditure (5.3) (7.6) (4.7) (10.3) (3.2) (3.9) (17.6) (1.8) (2.1) (0.9) (0.9) (1.6) (1.4) (1.2) (2.4) (1.0) (0.9) (1.1) (0.4) (0.6) (0.7) (0.7) (0.4) (0.8) (1.1) (0.6)
Acquisitions 0.1 (296.4) (0.8) (71.5) (112.4) (20.2) 9.7 (1.9) (184.0) 0.2 0.1 0 0 (0.3) (0.2) 0.4 0.0 (497.5) (0.6) 0.1 (22.5) (16.6) 3.6 2.8 (0.1) 3.7
Purchases of Investments (33.3) (4.4) (3.5) 0 0 0 0 0 0 0 (0.3) 0 0 0 0 0 0 (0.8) 0 (0.6) 0 0 0 0 0 0
Sales/Maturities of Investments 27.5 4.2 4.4 0 0 0 0 0 0 0.2 0 0 0 0 0 0 0 0.0 0 0.5 0 0 0 0 0 0
Other Investing Activities 0 280.3 0.0 0.1 0.0 (0.1) 0.0 0.0 0.0 0 0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 (0.0) 0 0.3 0.2 0.1 (0.0) 0.0 0.0
Investing Cash Flow (11.0) (23.9) (4.7) (81.7) (115.6) (24.1) (7.8) (3.7) (186.0) (0.5) (1.1) (1.6) (1.4) (1.5) (2.6) (0.5) (0.9) (498.5) (1.0) (0.6) (22.9) (17.2) 3.3 2.0 (1.1) 3.1
Financing Activities
Net Debt Issuance 282.1 0 191.0 103.6 190.1 (170.4) 161.4 180.6 179.9 (25.2) (31.4) (40.3) (50.3) (10.2) 99.9 104.8 8.3 319.2 74.8 41.2 7.5 (59.6) 3.7 33.5 (7.3) (21.7)
Stock Repurchased (18.5) (44.7) (9.7) (17.1) (13.8) (1.2) (4.8) (3.9) (10.5) 0 (11.1) (0.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (3.4) (3.4) (3.4) (3.4) (3.4) (3.4) (6.8) 0 (3.4) (3.4) (3.1) (3.4) (3.4) (3.5) (3.5) (6.8) 0 20.5 (20.6) 0 (23.3) (2.6) (12.4) (2.0) (0.2) (2.6)
Other Financing Activities (5.1) (77.4) (10.5) (22.7) (4.3) (0.4) (0.8) (33.6) (13.2) (5.3) (2.6) (29.6) (7.1) (0.2) 3.1 (35.9) (5.2) (24.5) 14.0 (5.5) (24.3) (2.9) (1.5) 0.3 (1.8) (0.4)
Financing Cash Flow 255.1 (125.5) 167.4 60.5 168.6 (175.3) 149.0 143.1 152.9 (33.8) (48.2) (73.6) (60.7) (13.8) 99.5 62.2 3.1 316.0 217.2 35.7 76.9 (65.1) (16.2) 30.8 (15.3) (24.7)
Cash Position
Net Change in Cash 194.6 (5.8) 31.8 (89.7) 8.3 107.0 (63.8) 28.8 (280.6) 185.2 37.7 28.1 (97.7) 233.4 32.3 (31.6) (120.3) 13.9 191.1 (38.6) 31.6 9.9 18.3 26.1 (37.7) 28.4
Cash at Beginning 284.4 290.2 258.4 348.1 339.8 232.8 296.6 267.8 548.5 363.3 325.6 297.5 395.1 161.7 129.4 161.0 281.3 267.4 80.9 91.7 87.4 75.3 57.1 31.0 68.7 40.3
Cash at End 479.0 284.4 290.2 258.4 348.1 339.8 232.8 296.6 267.8 548.5 363.3 325.6 297.5 395.1 161.7 129.4 161.0 281.3 272.1 53.1 119.0 85.2 75.3 57.1 31.0 68.7
Free Cash Flow (54.8) 136.0 (135.7) (78.8) (47.9) 302.6 (222.5) (112.4) (249.6) 218.6 86.1 101.8 (37.0) 247.5 (67.0) (94.2) (123.4) 187.2 (25.5) (74.4) (23.1) 91.5 30.8 (7.5) (22.4) 49.4
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4
Income Statement
Revenue 887.8 1,212.7 969.8 1,150.5 989.9 1,560.8 1,006.9 1,055.7 827.8 1,138.0 895.8 945.3 769.4 1,099.5 785.7 793.1 664.1 852.1 363.0 365.3 343.6 461.1 284.2 305.0 188.7 253.4
Gross Profit 129.5 154.9 213.9 192.6 193.5 282.6 197.6 202.9 149.2 235.7 186.5 182.5 132.1 190.1 147.2 157.7 125.2 139.8 59.6 61.7 52.5 73.9 43.5 38.0 25.0 37.1
Operating Income 19.4 75.6 59.3 57.9 76.8 165.8 95.7 104.0 67.4 141.3 106.6 108.8 71.3 115.6 78.4 91.7 63.5 78.7 27.2 33.0 24.4 38.6 23.6 7.7 7.5 18.7
Net Income 13.3 58.7 47.0 56.6 54.9 129.3 70.7 80.9 54.5 102.0 76.1 68.8 49.1 86.3 69.6 62.6 43.7 57.3 19.1 28.4 16.1 38.2 22.6 14.3 6.6 11.0
EPS (Diluted) 0.11 0.64 0.47 0.52 0.51 1.25 0.67 0.77 0.51 0.97 0.72 0.62 0.42 0.74 0.61 0.56 0.39 0.58 0.20 0.31 0.16 0.41 0.24 0.15 0.07 0.12
Balance Sheet
Cash & Equivalents 479.0 234.8 251.0 210.3 297.5 274.4 204.9 274.8 239.4 494.1 330.1 292.5 266.6 364.5 123.7 84.1 100.1 227.2 85.5 6.2 42.3 43.7 58.2 44.0
Total Assets 3,972.9 3,727.5 3,835.2 3,650.1 3,488.0 3,328.7 3,324.7 2,985.2 2,716.9 2,562.4 2,384.0 2,288.2 2,308.8 2,371.1 2,287.3 2,112.8 1,992.5 1,894.2 1,232.6 932.3 866.7 733.7 732.3 514.9
Total Debt 1,889.0 591.1 1,766.1 1,580.4 1,498.5 1,304.2 1,475.6 1,204.6 1,025.4 845.4 871.5 898.0 939.8 990.9 1,001.1 902.2 798.8 786.4 457.1 382.4 337.9 334.3 278.1 247.6
Stockholders' Equity 1,563.5 1,572.5 1,521.8 1,482.6 1,440.6 1,393.4 1,263.6 1,196.0 1,117.2 1,073.1 970.7 905.0 835.9 787.7 702.9 479.5 418.9 532.3 322.2 301.8 272.0 180.1 253.1 56.5
Cash Flow
Operating Cash Flow (49.5) 143.6 (131.0) (68.5) (44.7) 306.5 (205.0) (110.6) (247.5) 219.5 87.0 103.4 (35.6) 248.7 (64.6) (93.3) (122.5) 188.3 (25.0) (73.8) (22.4) 92.2 31.2 (6.7) (21.3) 49.9
Capital Expenditure (5.3) (7.6) (4.7) (10.3) (3.2) (3.9) (17.6) (1.8) (2.1) (0.9) (0.9) (1.6) (1.4) (1.2) (2.4) (1.0) (0.9) (1.1) (0.4) (0.6) (0.7) (0.7) (0.4) (0.8) (1.1) (0.6)
Free Cash Flow (54.8) 136.0 (135.7) (78.8) (47.9) 302.6 (222.5) (112.4) (249.6) 218.6 86.1 101.8 (37.0) 247.5 (67.0) (94.2) (123.4) 187.2 (25.5) (74.4) (23.1) 91.5 30.8 (7.5) (22.4) 49.4