Filing Flows › Dream Finders Homes (DFH) › Q4 2025
Dream Finders Homes (DFH) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Dream Finders Homes (DFH) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), -22% from a year earlier and +25% from the quarter before. Operating margin was 6.4%, net earnings $58.8M (4.8% of revenue).
Dream Finders Homes, Q4 2025: revenue $1.2B (-22% year over year), operating margin 6.4%, net earnings $58.8M, operating cash flow $144M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +25% | -22% |
| Operating profit | $78.1M | +29% | -54% |
| Net earnings | $58.8M | +25% | -55% |
| Operating cash flow | $144M | — | -53% |
| Free cash flow | $136M | — | -55% |
What changed
Revenue was $1.2B in Q4 2025, down 22% year over year and up 25% from the previous quarter. Homebuilding was the largest line at 96% of revenue.
Operating profit was $0.08B, a 6.4% margin (down 4.4 points year over year). Total costs fell 18% while revenue fell 22%. Net earnings were $0.06B, down 55% year over year. The effective tax rate was 24.7%.
Operating cash flow was $0.14B (down 53% year over year), 244% of net earnings. Non-cash charges added back $4.3M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $0.08B. Capital expenditures of $0.01B left free cash flow of $0.14B.
Questions
What was Dream Finders Homes' revenue in the fourth quarter 2025?
Dream Finders Homes (DFH) reported revenue of $1.2B for the fourth quarter 2025 (Q4 2025), -22% from a year earlier and +25% from the quarter before.
Was Dream Finders Homes profitable in the fourth quarter 2025?
Operating profit was $78.1M (6.4% of revenue) and net earnings $58.8M.