Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Dream Finders Homes, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
744
1,134
1,924
3,342
3,749
4,450
4,323
Cost of revenue
641
963
1,610
2,722
3,012
Gross profit
103
171
314
620
737
Selling, general and administrative
63.6
90.4
154
266
303
395
485
Interest expense
0.22
0.87
0.67
0.03
Pre-tax income
44.9
84.5
162
356
404
438
284
Income tax
0
0
27.5
81.9
96.5
97.3
66.7
Net income to minority interests
5.71
5.42
13.5
12
12
5.24
0.21
Net income
39.2
79.1
121
262
296
335
217
EPS, basic
0.00
0.00
1.27
2.67
3.03
3.44
2.19
EPS, diluted
0.00
0.00
1.27
2.45
2.79
3.34
2.14
Shares, basic (weighted)
0
0
92.5
92.7
93.1
93.5
93.1
Shares, diluted (weighted)
0
0
95.3
107
106
100
101
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
50.6
43.7
227
365
494
274
235
Inventory
484
1,067
Property, plant and equipment
4.31
6.79
7.34
7.04
39.7
54.7
Lease right-of-use assets
14.2
19.4
24.1
20.3
17.2
Goodwill
28.6
172
172
172
300
377
Intangible assets
2.66
9.14
5
Total assets
734
1,894
2,371
2,562
3,329
3,727
Deferred revenue
3.9
2.2
1.2
0.5
0.5
Total liabilities
522
1,338
1,570
1,476
1,908
2,123
Total debt
29.7
3.29
1,286
1,606
Paid-in capital
0
258
265
275
282
299
Retained earnings
0
118
366
648
970
1,174
Treasury stock
0
-7.83
-49.5
Other comprehensive income
0
0.61
Shareholders' equity
925
1,245
1,425
Minority interests
13.1
5.49
1.5
Total equity
401
645
938
1,250
1,426
Total liabilities and equity
734
1,894
2,371
2,562
3,329
3,727
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
44.9
84.5
135
274
308
341
217
Depreciation and amortization
3.04
4.01
6.07
11.3
10.7
10.2
15.1
Stock-based compensation
0.9
0.95
5.23
6.8
14.1
18.8
24.9
Deferred income tax
0
0
-0.95
-0.29
-22.3
46.2
35.5
Change in receivables
-12.2
-16.7
-11.9
12.6
-2.63
-0.92
Change in inventory
-30.9
23.5
-80.2
-312
-64.9
-150
-210
Change in payables
19.4
6.2
63.4
65.7
19.2
-23.1
-115
Cash from operations
30.4
96.9
65
-27.6
374
-257
-101
Capital expenditures
-2.89
-2.92
-2.77
-5.55
-4.78
-25.3
-25.8
Acquisitions
-13
-16.8
-519
-0.28
0
-178
-184
Purchases of investments
0
0
-11.9
Sales and maturities of investments
0
0
12.5
Cash from investing
-17.8
-13
-523
-5.52
-4.48
-222
-226
Stock issued
0
0
144
0
0
Share buybacks
0
0
-7.83
-41.7
Cash from financing
26.1
-65.8
646
147
-216
270
271
Net change in cash
38.7
18.1
188
114
153
-209
-55.4
Free cash flow
27.5
94
62.2
-33.2
369
-282
-126
Interest paid
0.3
0.9
33.9
105
80.1
199
283
Income taxes paid
27.8
47.9
81.3
128
121
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $11.30 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
4.7%
Pre-tax income / revenue.
Net margin
3.5%
Net income / revenue.
FCF margin
-3.9%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-3.3%
Cash from operations / revenue.
Effective tax rate
24.3%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
10.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
3.7%
Net income / average total assets.
SG&A / revenue
11.4%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
0.5%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.6%
Capital expenditures / revenue.
D&A / revenue
0.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-2.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
9.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
30.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-35.2%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
-6.1%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y
22.4%
Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y
-35.9%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
-4.4%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
14.4%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
12.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
16.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
38.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-1.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
1.27x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
45.9%
Total debt / total assets.
Liabilities / assets
59.3%
Total liabilities / total assets.
Net debt
$1.61B
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.61
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$45.26
Revenue / diluted weighted shares.
FCF per share
-$1.77
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.52
Cash from operations / diluted weighted shares.
Book value per share
$15.68
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
6.99x
Market cap / net income. Only when net income is positive.
P/S
0.25x
Market cap / revenue.
P/B
0.72x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.97x
Market cap / tangible book value, when positive.
EV/Sales
0.64x
Enterprise value / revenue.
FCF yield
-15.8%
Free cash flow / market cap.
Earnings yield
14.3%
Net income / market cap (the inverse of P/E).
Shareholder yield
5.1%
(Dividends paid + share buybacks) / market cap.
What was Dream Finders Homes, Inc.'s revenue in fiscal 2025?
Dream Finders Homes, Inc. reported revenue of $4.32B for fiscal 2025, 2.9% lower than the year before.
Was Dream Finders Homes, Inc. profitable in fiscal 2025?
Yes. Net income was $217.2M, a net margin of 5%.
How much free cash flow did Dream Finders Homes, Inc. generate in fiscal 2025?
Cash from operations of $100.6M minus capital expenditures of $25.8M left free cash flow of -$126.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.