/DFHFinancial History
Annual Financials
| Fiscal Year | Revenue | Gross Profit | Gross Margin | Net Income | EPS (Diluted) | Total Assets | Total Equity |
|---|---|---|---|---|---|---|---|
| FY2025 | $4.1B | $713M | 17.4% | $217M | $2.19 | $3.7B | $1.4B |
| FY2024 | $4.5B | $806M | 18.3% | $335M | $3.34 | $3.3B | $1.2B |
| FY2023 | $3.7B | $737M | 19.7% | $296M | $2.79 | $2.6B | — |
| FY2022 | $3.3B | $620M | 18.6% | $262M | $2.45 | $2.4B | — |
| FY2021 | $1.9B | $314M | 16.3% | $121M | $1.27 | $1.9B | $556M |
| FY2020 | $1.1B | $171M | 15.1% | $80M | $0.82 | — | — |
Builder Operating KPIsExtracted from earnings releases
| Period | Orders | Closings | Cancel % | Backlog | Backlog $ | ASP | Communities | Lots Owned | Lots Ctrl | Inventory | Specs |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q4 FY2025 | 1,756 | 2,536 | 15.9% | 1,839 | $800M | $473K | 313 | 7,747 | 63,121 | — | — |
| Q3 FY2025 | 1,680 | 1,915 | 12.5% | 2,619 | $1.2B | $479K | 283 | — | 64,341 | — | — |
| Q2 FY2025 | 1,938 | 2,232 | 14.0% | 2,513 | $1.2B | $515K | 271 | — | 63,180 | — | — |
| Q1 FY2025 | 2,032 | 1,925 | 11.7% | 2,802 | $1.4B | $495K | 258 | — | 60,538 | — | — |
| Q4 FY2024 | 1,611 | 3,008 | 18.8% | 2,599 | $1.3B | $521K | 242 | 6,727 | 54,698 | — | — |
| Q3 FY2024 | 1,680 | 1,889 | 13.8% | 3,996 | $2.0B | $502K | 235 | 8,481 | 44,825 | — | — |
| Q2 FY2024 | 1,712 | 2,031 | 13.2% | 4,205 | $2.1B | $505K | 222 | 8,546 | 40,678 | — | — |
| Q1 FY2024 | 1,724 | 1,655 | 20.9% | 4,524 | $2.3B | $495K | 232 | 8,022 | 36,462 | — | — |
| Q4 FY2023 | 1,107 | 2,153 | 22.9% | 3,978 | $1.9B | $511K | 221 | 6,929 | 29,748 | — | — |
| Q3 FY2023 | 1,535 | 1,798 | 14.9% | 5,025 | $2.4B | $502K | 219 | 6,517 | 30,614 | — | — |
| Q2 FY2023 | 1,655 | 1,846 | 15.6% | 5,288 | $2.5B | $505K | 220 | 6,283 | 31,783 | — | — |
| Q1 FY2023 | 1,107 | 1,517 | 20.9% | 5,479 | $2.5B | $491K | 220 | 6,775 | 33,344 | — | — |
| Q4 FY2022 | 1,107 | 2,316 | 32.1% | 5,548 | $2.5B | $475K | 206 | 5,943 | 37,615 | — | — |
| Q3 FY2022 | 1,110 | 1,542 | 25.5% | 6,758 | $3.1B | $508K | 197 | 6,189 | 44,774 | — | — |
| Q2 FY2022 | 1,426 | 1,649 | 21.0% | 7,190 | $3.3B | $463K | 203 | 6,265 | 39,400 | — | — |
| Q1 FY2022 | 2,402 | 1,371 | 13.4% | 7,413 | $3.4B | $465K | 206 | 5,801 | 39,474 | — | — |
| Q4 FY2021 | 1,974 | 1,960 | 13.1% | 6,381 | $3.0B | $441K | 205 | 5,345 | 38,495 | — | — |
| Q3 FY2021 | 1,301 | 916 | 13.9% | 4,520 | $1.8B | $376K | 107 | 4,118 | 34,894 | — | — |
| Q2 FY2021 | 1,521 | 996 | 14.4% | 4,137 | $1.6B | $442K | 117 | 4,280 | 27,203 | — | — |
| Q1 FY2021 | 736 | 1,002 | 8.1% | 3,612 | $1.4B | $515K | 120 | 3,847 | 26,438 | — | — |
Source: SEC 8-K earnings releases, extracted via regex with provenance tracking. Showing most recent 20 quarters.
Management Sentiment Analysis
Scored from earnings release language using ML analysis. Range: -1.0 (negative) to +1.0 (positive).
Current Posture
Q4 FY2025
Score: +0.10
Net sales increased 9% in Q4 and 15% for the full year with improved cancellation rates, but home closings and backlog units declined, indicating mixed demand signals.
Gross margins declined due to higher sales incentives and land costs, with adjusted gross margin also down, reflecting margin pressure despite cost management efforts.
No explicit commentary on labor availability or wage dynamics, suggesting a neutral stance on labor conditions.
Controlled lot pipeline grew significantly to 63,121 lots and a strategic land acquisition was made, supporting future growth and profitability.
Management expressed pride in record closings and net sales, maintained guidance for 2026 growth, but acknowledged ongoing industry challenges and a difficult macro environment.
Management highlighted a challenging industry backdrop, affordability headwinds, and macroeconomic uncertainty, indicating moderate risk concerns.
Recent Trend
Sentiment for Dream Finders Homes remained cautiously optimistic throughout FY2025, with demand showing strength via rising net orders and improved cancellation rates, though Q4 presented mixed signals with declining home closings and backlog. Margin pressures persisted consistently due to increased incentives, higher land and financing costs, and product mix shifts, despite efforts at cost management. The controlled lot pipeline expanded steadily, supporting future growth, while management maintained a confident yet measured outlook amid ongoing market challenges and elevated risks from affordability and macroeconomic uncertainties.
Builder vs. Industry Sentiment
Orange = DFH · Gray = Industry average (Q1 FY2026)