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Dream Finders Homes (DFH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Dream Finders Homes (DFH) Q3 2026 earnings results →
Q3 2026 Revenue up 3% year over year to $996M · 1¢ of every $1 of revenue kept as net profit · operating margin 1.3%
Dream Finders Homes made $996M in Q3 2026 (+3% Y/Y): Homebuilding $942M, Financial services $53.7M. Operating margin 1.3%, net earnings $7.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $996.0M in Q3 2026, up 3% year over year and down 6% from the previous quarter. Homebuilding was the largest line at 95% of revenue. Homebuilding added $25.7M year over year (up 3%), 98% of the total change.
Operating profit was $13.2M, a 1.3% margin (down 4.9 points year over year). Operating profit fell $47.6M even though revenue rose $26.2M versus Q3 2025, so costs grew faster than sales. Total costs grew 8% against revenue growth of 3%. The fastest-growing cost line was SG&A (+32%). Net earnings were $6.7M, down 86% year over year. The effective tax rate was 45.7%.
Operating cash flow was −$153.3M. Non-cash charges added back $6.2M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items used $172.5M. Capital expenditures of $5.2M exceeded it, leaving free cash flow of −$158.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $996M | +3% | 1.3% | $7.1M | −$153M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $1.1B | -8% | 3.5% | $27.8M | −$102M |
| Q1 2026 | 10-Q | May 1, 2026 | $888M | -10% | 2.1% | $13.6M | −$49.5M |
| Q4 2025 | 10-K | Feb 24, 2026 | $1.2B | -22% | 6.4% | $58.8M | $144M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $970M | -4% | 6.3% | $47.1M | −$131M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $1.2B | +9% | 6.4% | $56.6M | −$68.5M |
| Q1 2025 | 10-Q | May 6, 2025 | $990M | +20% | 7.2% | $54.9M | −$44.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Dream Finders Homes
We design, build and sell homes primarily in high-growth markets using our asset-light lot acquisition strategy. Our primary focus is on constructing and selling single-family homes across entry-level, first-time move-up, second-time move-up and active adult homes. We also sell homes to third-party investors that intend to lease the homes (“built-for-rent contracts”). Our home offerings are marketed under various brands, including Dream Finders Homes, DF Luxury, Reverie Active Adult Lifestyle by Dream Finders Homes, Craft Homes and Coventry Homes.
In its own words, from its 10-K, filed Feb 24, 2026.
Dream Finders Homes against its Operative Builders peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median -8%. Operating margin: 1.3% against the peers' median 8.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| DFH Dream Finders Homes | Q3 2026 | $996M | +3% | 1.3% |
| DHI Horton D R | Q4 FY26 | $9.4B | -3% | 10.8% |
| PHM Pultegroup | Q3 2026 | $4.0B | -10% | 15.7% |
| TOL Toll Brothers | Q3 FY26 | $2.7B | -10% | 13.5% |
| NVR NVR | Q3 2026 | $2.4B | -8% | 13.9% |
| ECG Everus Construction Group | Q3 2026 | $1.4B | +40% | 8.8% |
| KBH KB Home | Q3 FY26 | $1.3B | -20% | 6.3% |
| MHO M/I Homes | Q3 2026 | $1.1B | -5% | 7.7% |
| CCS Century Communities | Q3 2026 | $864M | -12% | 1.8% |
Source: Dream Finders Homes 10-Q on SEC EDGAR · CIK 1825088 · Operative Builders
Guidance and outlook
13F: who owns DFH and who is buying
More on DFH
- How Dream Finders Homes makes money: revenue by segment
- Dream Finders Homes next earnings date and what analysts expect
- Dream Finders Homes stock forecast, price target and fair value
- Who owns Dream Finders Homes stock: holders, funds and Congress trades
- Dream Finders Homes guidance and outlook
- Is Dream Finders Homes a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results