Dream Finders Homes, Inc. (DFH) Key Metrics
DFH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $795.8M
- Enterprise value
- $2.82B
- P/E (TTM)
- 6.2 10-yr median 8.0
- Forward P/E
- 4.7
- PEG ratio
- —
- Price / sales
- 0.2 10-yr median 0.5
- Price / book
- 0.7 10-yr median 1.7
- EV / EBITDA
- 13.3 10-yr median 7.4
- Dividend yield
- —
- Beta
- 1.90
DFH key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsDFH valuation Price multiples at each fiscal year-end price.
DFH returns How much profit the business earns on the capital it uses.
DFH per-share figures Results divided by the shares outstanding at year-end.
DFH financial health Debt, liquidity and how easily interest is covered.
DFH efficiency & capital use Working capital cycle and where the cash goes.
DFH valuation history
DFH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
DFH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
DFH cash returned to shareholders
DFH price vs earnings per share
DFH key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $1.73B | $2.33B | $3.77B | $923.9M | $1.80B | — | — | — |
| Enterprise value | $2.09B | $3.36B | $4.12B | $1.55B | $2.36B | — | — | — |
| P/E ratio | 8.0 | 7.0 | 12.7 | 3.5 | 14.7 | — | — | — |
| Price / sales | 0.4 | 0.5 | 1.0 | 0.3 | 0.9 | — | — | — |
| Price / book | 1.1 | 1.7 | 3.5 | 1.4 | 3.4 | — | — | — |
| Price / free cash flow | — | — | 10.2 | — | 28.9 | — | — | — |
| Price / operating cash flow | — | — | 10.1 | — | 27.6 | — | — | — |
| EV / sales | 0.5 | 0.8 | 1.1 | 0.5 | 1.2 | — | — | — |
| EV / EBITDA | 6.7 | 7.4 | 9.8 | 4.2 | 13.7 | — | — | — |
| EV / free cash flow | — | — | 11.1 | — | 37.8 | — | — | — |
| Earnings yield | 12.5% | 14.4% | 7.9% | 28.4% | 6.8% | — | — | — |
| Free cash flow yield | −7.3% | −12.1% | 9.8% | −3.6% | 3.5% | — | — | — |
| Dividend yield | 0.8% | 0.6% | 0.4% | 1.5% | 1.3% | — | — | — |
| Shareholder yield (dividends + buybacks) | 3.6% | 1.4% | 0.4% | 4.0% | 2.7% | — | — | — |
| Share price at fiscal year-end | $17.10 | $23.27 | $35.53 | $8.66 | $19.45 | — | — | — |
| Per share | ||||||||
| Revenue per share | $42.68 | $44.38 | $35.35 | $31.33 | $20.79 | $12.25 | $10.55 | — |
| Earnings per share | $2.14 | $3.34 | $2.79 | $2.46 | $1.32 | $0.85 | $0.34 | — |
| Operating cash flow per share | −$0.99 | −$2.56 | $3.53 | −$0.26 | $0.70 | $1.03 | $0.26 | — |
| Free cash flow per share | −$1.25 | −$2.81 | $3.48 | −$0.31 | $0.67 | $1.00 | $0.23 | — |
| Cash per share | $2.32 | $2.74 | $4.66 | $3.42 | $2.46 | $0.38 | $0.48 | — |
| Book value per share | $15.52 | $13.89 | $10.12 | $6.04 | $5.75 | $1.47 | $0.94 | — |
| Tangible book value per share | $11.80 | $10.90 | $8.50 | $4.38 | $3.80 | $1.13 | $0.54 | — |
| Dividends per share | $0.13 | $0.13 | $0.12 | $0.13 | $0.25 | $0.19 | $0.09 | — |
| Capex per share | $0.25 | $0.25 | $0.05 | $0.05 | $0.03 | $0.03 | $0.03 | — |
| Debt per share | $5.83 | $13.00 | $7.97 | $9.29 | $8.50 | $6.59 | $4.87 | — |
| Shares outstanding | 101.3M | 100.3M | 106.0M | 106.7M | 92.5M | 92.5M | 92.5M | — |
| Change in shares outstanding | +1.0% | −5.4% | −0.6% | +15.3% | 0.0% | 0.0% | — | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 14.6% | 27.2% | 34.5% | 44.6% | 36.6% | 71.0% | 41.6% | 27.9% |
| Return on invested capital (ROIC) | 9.5% | 17.5% | 24.2% | 22.8% | 14.7% | 12.7% | 8.8% | 6.3% |
| Return on assets (ROA) | 6.2% | 11.4% | 12.0% | 12.3% | 9.3% | 12.7% | 7.0% | 4.6% |
| Return on tangible assets | 6.5% | 11.1% | 12.4% | 12.0% | 7.1% | 11.3% | 6.5% | 4.8% |
| Free cash flow margin | −2.9% | −6.3% | 9.9% | −1.0% | 3.2% | 8.2% | 2.1% | −2.4% |
| Income quality (OCF / net income) | −0.46 | −0.77 | 1.26 | −0.11 | 0.53 | 1.21 | 0.77 | −0.14 |
| Financial health | ||||||||
| Total debt | $591.1M | $1.30B | $845.4M | $990.9M | $786.4M | $609.8M | $450.2M | $341.0M |
| Cash & short-term investments | $234.8M | $274.4M | $494.1M | $364.5M | $227.2M | $35.5M | $44.0M | $19.8M |
| Net debt | $356.3M | $1.03B | $351.3M | $626.4M | $559.2M | $574.3M | $406.2M | $321.2M |
| Debt / equity | 0.38 | 0.94 | 0.79 | 1.54 | 1.48 | 4.49 | 5.18 | 5.50 |
| Debt / assets | 0.16 | 0.39 | 0.33 | 0.42 | 0.42 | 0.83 | 0.87 | 0.91 |
| Net debt / EBITDA | 1.14 | 2.26 | 0.83 | 1.68 | 3.24 | 6.16 | 7.45 | 11.52 |
| Current ratio | 2.92 | 1.57 | 1.93 | 1.27 | 1.16 | 1.44 | 1.36 | 1.29 |
| Quick ratio | 0.35 | 0.44 | 0.55 | 0.31 | 0.26 | 0.22 | 0.22 | 0.14 |
| Interest coverage | 1.4 | 2.4 | — | — | 236.9 | 92.0 | 222.1 | 35.6 |
| Working capital | $1.51B | $865.6M | $975.1M | $386.1M | $187.5M | $174.9M | $114.8M | $75.2M |
| Invested capital | $1.93B | $2.42B | $1.42B | $1.27B | $1.09B | $710.1M | $493.1M | $383.2M |
| Tangible asset value | $1.23B | $1.12B | $913.9M | $467.4M | $375.3M | $104.6M | $50.3M | $48.8M |
| Net current asset value | $176.2M | $484.4M | $543.3M | $90.3M | $43.6M | −$28.3M | $4.8M | $16.9M |
| Graham number | $27.37 | $32.33 | $25.21 | $18.28 | $13.09 | $5.31 | $2.66 | — |
| Graham net-net per share | −$8.36 | −$7.48 | −$2.25 | −$6.00 | −$5.97 | −$3.32 | −$2.18 | — |
| Capital allocation | ||||||||
| Dividends paid | $13.5M | $13.5M | $13.2M | $13.7M | $23.3M | $17.3M | $8.3M | $11.7M |
| Share buybacks (net) | $49.6M | $20.3M | $322,000 | $23.1M | $25.5M | $13.0M | $0 | $0 |
| Dividend payout ratio | 6.2% | 4.0% | 4.5% | 5.2% | 19.0% | 21.8% | 26.8% | 67.6% |
| Dividends + buybacks / free cash flow | — | — | 3.7% | — | 78.3% | 32.7% | 39.6% | — |
| Capex / revenue | 0.6% | 0.6% | 0.1% | 0.2% | 0.1% | 0.3% | 0.3% | 1.9% |
| Capex / operating cash flow | — | — | 1.3% | — | 4.3% | 3.1% | 12.1% | — |
| Capex / depreciation | 0.88 | 1.47 | 0.27 | 0.32 | 0.28 | 0.37 | 0.48 | 2.57 |
| Stock-based compensation / revenue | 0.6% | 0.4% | 0.4% | 0.2% | 0.3% | 0.1% | 0.1% | 0.2% |
| SG&A / revenue | 11.2% | 8.9% | 7.7% | 8.1% | 8.0% | 8.0% | 6.0% | 8.3% |
| Efficiency | ||||||||
| Days sales outstanding | 3.1 | 2.7 | 3.6 | 4.2 | 4.8 | 5.4 | — | — |
| Days of inventory on hand | 191.3 | 159.0 | 170.8 | 163.9 | 175.8 | 160.8 | 142.2 | 235.9 |
| Days payables outstanding | 14.0 | 14.2 | 16.3 | 16.6 | 17.1 | 14.2 | 15.1 | 25.6 |
| Cash conversion cycle (days) | 180.5 | 147.5 | 158.1 | 151.5 | 163.4 | 152.0 | — | — |
| Receivables turnover | 118.04 | 136.97 | 100.82 | 86.85 | 76.58 | 67.63 | — | — |
| Payables turnover | 26.11 | 25.76 | 22.41 | 21.94 | 21.34 | 25.62 | 24.25 | 14.25 |
| Inventory turnover | 1.91 | 2.30 | 2.14 | 2.23 | 2.08 | 2.27 | 2.57 | 1.55 |
| Asset turnover | 1.23 | 1.51 | 1.52 | 1.57 | 1.46 | 1.82 | 2.19 | 1.39 |
| Average receivables | $36.6M | $32.5M | $37.2M | $38.5M | $25.1M | $16.8M | — | — |
| Average payables | $136.6M | $140.6M | $134.4M | $124.1M | $75.5M | $37.6M | $34.8M | $31.9M |
| Average inventory | $1.87B | $1.58B | $1.41B | $1.22B | $775.5M | $424.2M | $328.9M | $293.7M |
| Intangibles / total assets | 10.1% | 9.0% | 6.7% | 7.5% | 9.6% | 4.3% | 7.1% | 3.5% |
Computed from DFH's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
DFH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Dream Finders Homes traded at 8.0 times earnings, against a 8-year median of 8.0. Based on the latest twelve months, the trailing P/E is 6.2 and the forward P/E is 4.7. Dream Finders Homes earned a return on equity of 14.6% and a return on invested capital of 9.5% in fiscal 2025. It ended the year with $591.1 million of debt and $234.8 million in cash and short-term investments, net debt of $356.3 million. It returned $63.1 million to shareholders: $13.5 million in dividends and $49.6 million in share buybacks.
See the DFH income statement, the DFH chart for price history, or the DFH stock overview for the latest quote and news.
DFH key metrics FAQ
What is Dream Finders Homes's P/E ratio?
Dream Finders Homes's trailing P/E ratio is 6.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 4.7. At the end of fiscal 2025 it was 8.0, compared with a 8-year median of 8.0.
What is Dream Finders Homes's EV/EBITDA?
Dream Finders Homes's enterprise value was 6.7 times EBITDA at the end of fiscal 2025 (enterprise value $2.1 billion, EBITDA $313.3 million); the current EV/EBITDA is 13.3.
What is Dream Finders Homes's return on equity?
Dream Finders Homes's return on equity (ROE) was 14.6% in fiscal 2025: net income of $217.2 million on average shareholders' equity of $1.5 billion.
What is Dream Finders Homes's ROIC?
Dream Finders Homes's return on invested capital was 9.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Dream Finders Homes have?
Dream Finders Homes had total debt of $591.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.38 and $356.3 million of net debt (1.14 times EBITDA).
What is Dream Finders Homes's dividend yield?
Dream Finders Homes paid $13.5 million in dividends in fiscal 2025 ($0.13 per share), a payout ratio of 6.2%.
Does Dream Finders Homes buy back its shares?
Yes. Dream Finders Homes spent $49.6 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.0% over the year, to 101.3M..
What is Dream Finders Homes's free cash flow yield?
Dream Finders Homes generated -$126.4 million of free cash flow in fiscal 2025, a free cash flow yield of −7.3% on its market value at year-end ($1.7 billion).
What is Dream Finders Homes's current ratio?
Dream Finders Homes's current ratio was 2.92 at the end of fiscal 2025: current assets were 2.92 times current liabilities.