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Asset-light homebuilder using land-option contracts to build single-family homes across the Southeast, Texas and mid-Atlantic.
Asset-light homebuilder using land-option contracts to build single-family homes across the Southeast, Texas and mid-Atlantic.
Revenue arrives when homes close with buyers, so results follow orders, cancellations and construction cycle times. It controls land through options and joint ventures rather than owning it outright, and adds title, mortgage and insurance services around each sale. Growth has come partly from buying regional builders in other states.
Moat: narrow (process know-how). Land-light option model reduces balance-sheet risk versus builders holding raw land.
Headquarters: Jacksonville, Florida, United States · Founded: 2008 · Employees: 1,911
Size Dream Finders Homes (DFH) is a United States Consumer Discretionary company (Homebuilding) with a market value of $1.12B, the 2177th largest of 3,117 United States companies the cockpit tracks. Shares closed at $12.40 on 6 Nov 2026.
Performance Over six months the shares fell 13.4%, against -11.2% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 10.9% over the last twelve months (peer median +3.0%); the operating margin is 3.0% (peer median 5.4%).
Valuation It trades at 441.3× forward earnings against a peer median of 15.4× (most expensive of 15).
Capital Return on invested capital runs 6.1 points below its cost of capital (8.8% WACC).
Credit Dream Finders Homes has 2 bonds outstanding ($600M), rated B+ by the agencies and trading like B- at a weighted spread of 491 bp.
Short interest Short interest is 34.1% of the free float (15 Oct 2026).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.16B | $4.32B | $4.45B | $3.75B | $3.34B |
| Revenue growth | — | -3% | +19% | +12% | — |
| Gross profit | $627M | $740M | $818M | $737M | $620M |
| EBITDA | $160M | $299M | $455M | $446M | $366M |
| Net income | $106M | $217M | $335M | $296M | $262M |
| Free cash flow | -$185M | -$126M | -$282M | $369M | -$33.2M |
| Capital expenditure | $23.8M | $25.8M | $25.3M | $4.78M | $5.54M |
| Total debt | $2.00B | $1.61B | $1.29B | $845M | $991M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Dream Finders Homes DFH | $1.12B | -13% | -11% | 3% | 441.3× | n/a |
| LGI Homes LGIH | $1.06B | -2% | -2% | 4% | 17.1× | 18.3% |
| Century Communities CCS | $1.56B | 0% | -7% | 2% | 29.2× | n/a |
| Green Brick Partners GRBK | $2.75B | -2% | -10% | 19% | 12.2× | 7.8% |
| M/I Homes MHO | $3.29B | 0% | -6% | 8% | 12.8× | 8.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DFH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.2% | 0.0% | highest of 21 |
| 6-month return | -13.4% | -11.2% | 10th lowest of 21 |
| Distance from 52-week high | -42.5% | -28.5% | 5th lowest of 21 |
| Revenue growth (TTM) | -10.9% | +3.0% | 5th lowest of 21 |
| Operating margin | 3.0% | 5.4% | 8th lowest of 21 |
| Forward P/E | 441.3× | 15.4× | most expensive of 15 |
| ROIC minus cost of capital | -6.1 pp | -0.4 pp | 6th lowest of 21 |
| Net debt / EBITDA | 10.7× | 2.8× | 4th most indebted of 13 |
| Bond spread | 491 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dream Finders Homes DFH | United States | $1.12B | -13% | -11% | 3% | 441.3× | n/a | n/a |
| Vistry VTY.L | United Kingdom | $1.12B | -19% | -8% | -9% | 9.5× | n/a | n/a |
| CEVIA Enviro 000885.SZ | China | $1.16B | -14% | -2% | 27% | 6.0× | -8.3% | +14.0% |
| LGI Homes LGIH | United States | $1.06B | -2% | -2% | 4% | 17.1× | 18.3% | -6.4% |
| Okumura 1833.T | Japan | $1.19B | -17% | 0% | 5% | n/a | n/a | n/a |
| Black Diamond BDI.TO | Canada | $1.02B | +25% | +26% | 12% | 32.7× | n/a | n/a |
| JSL Construction & Development 2540.TW | Taiwan | $1.25B | -14% | -35% | 3% | n/a | n/a | n/a |
| Nishimatsu Construction 1820.T | Japan | $1.28B | -11% | +14% | 8% | 9.6× | n/a | n/a |
| Huaku Development 2548.TW | Taiwan | $928M | -21% | +331% | 22% | 19.9× | -18.6% | +10.0% |
| Dexterra DXT.TO | Canada | $876M | +59% | +9% | 6% | 24.0× | 5.1% | +17.2% |
| Shanghai Tongji Science & Technology Industrial 600846.SS | China | $870M | -27% | +51% | 3% | n/a | 7.8% | -6.8% |
| Gemdale 600383.SS | China | $1.45B | -26% | -47% | -24% | n/a | 10.8% | -15.6% |
| Run Long Construction 1808.TW | Taiwan | $844M | +10% | +741% | 25% | n/a | -12.0% | -3.2% |
| Century Communities CCS | United States | $1.56B | 0% | -7% | 2% | 29.2× | n/a | n/a |
| Tokyu Construction 1720.T | Japan | $774M | -21% | +11% | 5% | 9.3× | -13.6% | +8.1% |
| Chongqing Construction Engineering 600939.SS | China | $773M | -11% | -28% | -4% | n/a | -7.9% | -16.8% |
| Takamatsu Construction 1762.T | Japan | $769M | +16% | +6% | 6% | 9.5× | n/a | n/a |
| Katitas 8919.T | Japan | $1.69B | +11% | +20% | 12% | 18.6× | n/a | n/a |
| Cathay Real Estate Development 2501.TW | Taiwan | $719M | -9% | +14% | 19% | 6.8× | -20.7% | +11.7% |
| Legacy Housing LEGH | United States | $694M | +25% | -3% | 33% | 14.1× | 3.5% | -1.4% |
| GS Engineering & Construction 006360.KS | South Korea | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% | +4.2% |
Dream Finders Homes has 2 bonds outstanding with $600M face value. The agencies rate it B+; its bonds trade like B-. Weighted yield 9.40%, a spread of 491 bp over government bonds.