Dream Finders Homes, Inc. (DFH) Income Statement
DFH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsDFH revenue and net income
Where DFH's revenue goes
2025Each bar shows an amount and its share of revenue. DFH kept 5.0% of revenue as net income.
DFH profit margins
DFH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −2.9% | +9.0% | +30.7% | — |
| Gross profit | −8.9% | +6.8% | +34.6% | — |
| Operating income | −37.7% | −8.3% | +27.5% | — |
| Net income | −35.2% | −6.1% | +22.4% | — |
| EPS (diluted) | −35.8% | −4.1% | −54.7% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
DFH quarterly EPS vs estimates
Dream Finders Homes beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.20).
DFH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.32B | $4.45B | $3.75B | $3.34B | $1.92B | $1.13B | $976.6M | $522.3M |
| Cost of revenue | $3.57B | $3.62B | $3.01B | $2.72B | $1.61B | $962.9M | $844.4M | $454.4M |
| Gross profit | $754.8M | $828.6M | $736.8M | $620.2M | $313.6M | $170.9M | $132.2M | $67.9M |
| Sales, general & admin | $485.2M | $395.8M | $288.9M | $271.0M | $154.4M | $90.8M | $58.7M | $43.5M |
| Total operating expenses | $485.2M | $395.8M | $308.8M | $271.0M | $154.4M | $90.8M | $83.0M | $43.5M |
| Operating income | $269.6M | $432.8M | $428.0M | $349.2M | $159.2M | $80.1M | $49.2M | $24.3M |
| Interest expense | $196.3M | $176.8M | $1,000 | $32,000 | $672,000 | $870,868 | $221,449 | $682,152 |
| Income before taxes | $284.1M | $437.9M | $404.4M | $356.2M | $162.0M | $84.5M | $47.1M | $23.3M |
| Income taxes | $66.7M | $97.3M | $96.5M | $81.9M | $27.5M | $3.6M | $10.3M | −$366,878 |
| Net income | $217.2M | $335.3M | $295.9M | $262.3M | $122.4M | $79.1M | $31.0M | $17.3M |
| EBITDA | $313.3M | $455.1M | $422.3M | $373.3M | $172.6M | $98.1M | $61.7M | $28.0M |
| EPS (diluted) | $2.15 | $3.35 | $2.85 | $2.44 | $1.24 | $112.59 | $0.34 | — |
| Gross margin | 17.5% | 18.6% | 19.7% | 18.6% | 16.3% | 15.1% | 13.5% | 13.0% |
| Operating margin | 6.2% | 9.7% | 11.4% | 10.4% | 8.3% | 7.1% | 5.0% | 4.7% |
| Net margin | 5.0% | 7.5% | 7.9% | 7.8% | 6.4% | 7.0% | 3.2% | 3.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.06B | $887.8M | $1.21B | $969.8M | $1.15B | $989.9M | $1.56B | $1.01B | $1.06B | $827.8M | $1.14B | $895.8M |
| Cost of revenue | $982.1M | $758.4M | $1.06B | $755.9M | $957.9M | $796.4M | $1.28B | $809.3M | $852.8M | $678.6M | $902.3M | $709.3M |
| Gross profit | $81.4M | $129.5M | $154.9M | $213.9M | $192.6M | $193.5M | $282.6M | $197.6M | $202.9M | $149.2M | $235.7M | $186.5M |
| Sales, general & admin | $128.4M | $110.9M | $124.3M | $109.5M | $134.7M | $116.7M | $116.8M | $101.9M | $98.9M | $81.8M | $94.4M | $80.0M |
| Total operating expenses | $129.2M | $110.1M | $79.2M | $154.6M | $134.7M | $116.7M | $116.8M | $101.9M | $98.9M | $81.8M | $94.4M | $80.0M |
| Operating income | −$47.9M | $19.4M | $75.6M | $59.3M | $57.9M | $76.8M | $165.8M | $95.7M | $104.0M | $67.4M | $141.3M | $106.6M |
| Interest expense | — | — | $55.3M | $43.2M | $55.3M | $40.7M | $72.8M | $41.7M | — | — | $241.7M | $124.3M |
| Income before taxes | $36.8M | $18.8M | $78.1M | $60.8M | $74.1M | $71.2M | $168.6M | $92.4M | $106.0M | $70.8M | $135.4M | $103.8M |
| Income taxes | $9.0M | $5.2M | $19.3M | $13.7M | $17.5M | $16.2M | $38.1M | $20.8M | $23.2M | $15.1M | $30.5M | $24.2M |
| Net income | $27.7M | $13.3M | $58.7M | $47.0M | $56.6M | $54.9M | $129.3M | $70.7M | $80.9M | $54.5M | $102.0M | $76.1M |
| EBITDA | −$38.3M | $27.1M | $85.8M | $67.3M | $81.7M | $78.5M | $173.6M | $96.3M | $110.3M | $74.9M | $139.9M | $232.5M |
| EPS (diluted) | $0.27 | $0.11 | $0.58 | $0.47 | $0.56 | $0.54 | $1.29 | $0.70 | $0.81 | $0.55 | $1.00 | $0.75 |
| Gross margin | 7.7% | 14.6% | 12.8% | 22.1% | 16.7% | 19.5% | 18.1% | 19.6% | 19.2% | 18.0% | 20.7% | 20.8% |
| Operating margin | −4.5% | 2.2% | 6.2% | 6.1% | 5.0% | 7.8% | 10.6% | 9.5% | 9.8% | 8.1% | 12.4% | 11.9% |
| Net margin | 2.6% | 1.5% | 4.8% | 4.8% | 4.9% | 5.5% | 8.3% | 7.0% | 7.7% | 6.6% | 9.0% | 8.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in DFH's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
DFH financial results
In fiscal year 2025 (ended December 31, 2025), Dream Finders Homes reported revenue of $4.3 billion, down 2.9% from the year before. It had net income of $217.2 million (down 35.2%), a net profit margin of 5.0%. Diluted earnings per share came to $2.15. Over five years revenue grew at an average rate of 30.7% a year.
See the DFH stock overview for the latest quote and news, or the DFH chart for price history and technical indicators.
DFH income statement FAQ
What is Dream Finders Homes's annual revenue?
Dream Finders Homes reported total revenue of $4.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 2.9% from $4.5 billion the previous year.
Is Dream Finders Homes profitable?
Yes. Dream Finders Homes reported net income of $217.2 million in fiscal 2025, a net profit margin of 5.0%; its operating margin was 6.2%.
What is Dream Finders Homes's gross margin?
Dream Finders Homes's gross margin was 17.5% in fiscal 2025: for every $100 of revenue, Dream Finders Homes kept $17 after the direct cost of its products and services.
How fast is Dream Finders Homes growing?
Revenue grew 30.7% a year on average over the last five fiscal years, from $1.1 billion to $4.3 billion.
What are Dream Finders Homes's earnings per share?
Dream Finders Homes earned $2.15 per diluted share in fiscal 2025, compared with $3.35 a year earlier.
When will Dream Finders Homes report its next earnings?
Dream Finders Homes is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Dream Finders Homes's fiscal year end?
Dream Finders Homes's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.