Dream Finders Homes (DFH) financial statements
Dream Finders Homes reported revenue of $4.3B in fiscal 2025, up 34.1% a year over 6 years.
Net income was $217M.
Free cash flow was -$126M, and the company returned $42M in net buybacks.
The diluted share count rose 6% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Dream Finders Homes's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $744M | $1.1B | $1.9B | $3.3B | $3.7B | $4.4B | $4.3B |
| Cost of revenue | $641M | $963M | $1.6B | $2.7B | $3.0B | — | — |
| Gross profit | $103M | $171M | $314M | $620M | $737M | — | — |
| Selling, general and admin | $64M | $90M | $154M | $266M | $303M | $395M | $485M |
| Interest expense | $221,449 | $871,000 | $672,000 | $32,000 | — | — | — |
| Pre-tax income | $45M | $85M | $162M | $356M | $404M | $438M | $284M |
| Income tax | $0 | $0 | $27M | $82M | $96M | $97M | $67M |
| Net income | $39M | $79M | $121M | $262M | $296M | $335M | $217M |
| EPS (diluted) | $0.00 | $0.00 | $1.27 | $2.45 | $2.79 | $3.34 | $2.14 |
| Diluted shares | 0M | 0M | 95M | 107M | 106M | 100M | 101M |
| Gross margin | 13.8% | 15.1% | 16.3% | 18.6% | 19.7% | — | — |
| Net margin | 5.3% | 7.0% | 6.3% | 7.8% | 7.9% | 7.5% | 5.0% |
Balance sheet
Fiscal years, from Dream Finders Homes's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $51M | $44M | $227M | $365M | $494M | $274M | $235M |
| Inventory | — | $484M | $1.1B | — | — | — | — |
| Property, plant and equipment | — | $4M | $7M | $7M | $7M | $26M | $55M |
| Goodwill | — | $29M | $172M | $172M | $172M | $300M | $377M |
| Total assets | — | $734M | $1.9B | $2.4B | $2.6B | $3.3B | $3.7B |
| Total liabilities | — | $522M | $1.3B | $1.6B | $1.5B | $1.9B | $2.1B |
| Shareholders' equity | — | — | $401M | $645M | $925M | $1.2B | $1.4B |
| Net debt | -$51M | -$44M | -$227M | -$365M | -$494M | -$274M | -$235M |
Cash flow
Fiscal years, from Dream Finders Homes's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $30M | $97M | $65M | -$28M | $374M | -$257M | -$101M |
| Capital spending | $3M | $3M | $3M | $6M | $5M | $25M | $26M |
| Free cash flow | $28M | $94M | $62M | -$33M | $369M | -$282M | -$126M |
| Stock-based compensation | $895,000 | $947,000 | $5M | $7M | $14M | $19M | $25M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$8M | -$42M |
| Free cash flow margin | 3.7% | 8.3% | 3.2% | -1.0% | 9.9% | -6.3% | -2.9% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for DFH.
Open DFH in InvestinglyQuestions
What was Dream Finders Homes's revenue in 2025?
$4.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Dream Finders Homes generate?
-$126M in fiscal 2025 (operating cash flow minus capital spending).
From Dream Finders Homes's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.