Dream Finders Homes, Inc. · Operative Builders

DFH

Moderate riskNext report: In 2 days (est.)

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The short version

A profitable company with shrinking sales.

Going well

Profitable
Buying back shares: share count down 5.1% in 3 years

Watch out for

Debt above equity: 1.13x

Money moves

No insider buying or selling in the last 30 days
Institutions added 1.8% to their holdings in the quarter ending June 2026 (121 bought, 82 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$10.27+0.2% that day

Company value: $938M; Share price times all shares
Price vs profit (P/E): 7.2x; You pay about $7 for each $1 of yearly profit
Price vs sales: 0.23x; Company value is 0.23 times a year of sales
Cash vs value: 22%; Cash as a share of company value
Debt vs value: 171%; Owes more than the whole company is worth

From DFH's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$1.1B-7.6% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $4.1B, down 12% from the 12 months before. Over 5 years, sales grew about 31% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of DFH. Starting points are the company's recent numbers.

Sales growth-10% a yearRecently: -12% a yearProfit margin4%Last 12 months: 3.6%P/E at the end8xToday: 7.2x. Many steady companies trade at 12x to 25xShare count change-2% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.4B

Profit in 5 years$98M

Price these guesses point to$9.46-7.9% vs $10.27 todayAbout -1.6% a year, before dividends

What today's price needs: with a 4% margin and a 8x P/E, sales could shrink about 8.5% a year for 5 years and still match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

PassReturn on equity 15%+Earns a lot on the money owners have in the business.16.3%
MissDebt under half of equityNot relying on borrowed money.1.13x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.5.0%
PassProfitable every yearSteady profits, not one good year.7 of 7 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$126.4M
PassShare count not growingNot diluting owners. Falling means buybacks.-5.1% in 3 years

Revenue: $4.3B; -2.9% vs prior year
5-year growth: +30.7%/yr; revenue, per year
Total debt: $1.6B; 1.13x equity
Free cash flow: -$126.4M; -2.9% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.