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Side-by-side financial comparison of TopBuild Corp (BLD) and Dream Finders Homes, Inc. (DFH). Click either name above to swap in a different company.
TopBuild Corp is the larger business by last-quarter revenue ($1.5B vs $1.2B, roughly 1.2× Dream Finders Homes, Inc.). TopBuild Corp runs the higher net margin — 7.0% vs 4.8%, a 2.2% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (13.2% vs -22.3%). TopBuild Corp produced more free cash flow last quarter ($159.4M vs $136.0M). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 7.8%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
Dream Finders Homes, Inc. is a U.S. homebuilding firm that constructs and sells entry-level to luxury residential properties, including single-family homes and townhomes, across high-growth domestic markets. It also provides mortgage, title insurance and home warranty services for homebuyers.
BLD vs DFH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $1.2B |
| Net Profit | $104.5M | $58.8M |
| Gross Margin | 27.2% | — |
| Operating Margin | 12.1% | 6.4% |
| Net Margin | 7.0% | 4.8% |
| Revenue YoY | 13.2% | -22.3% |
| Net Profit YoY | -30.6% | -54.9% |
| EPS (diluted) | $3.69 | $0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.4B | $969.8M | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $989.9M | ||
| Q4 24 | $1.3B | $1.6B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $827.8M |
| Q4 25 | $104.5M | $58.8M | ||
| Q3 25 | $142.2M | $47.0M | ||
| Q2 25 | $151.6M | $56.6M | ||
| Q1 25 | $123.4M | $54.9M | ||
| Q4 24 | $150.5M | $130.5M | ||
| Q3 24 | $169.0M | $70.7M | ||
| Q2 24 | $150.7M | $80.9M | ||
| Q1 24 | $152.4M | $54.5M |
| Q4 25 | 27.2% | — | ||
| Q3 25 | 30.1% | — | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | 31.0% | 19.2% | ||
| Q1 24 | 30.3% | 18.0% |
| Q4 25 | 12.1% | 6.4% | ||
| Q3 25 | 15.4% | 6.3% | ||
| Q2 25 | 16.9% | 6.4% | ||
| Q1 25 | 14.4% | 7.2% | ||
| Q4 24 | 16.6% | 10.8% | ||
| Q3 24 | 17.8% | 9.2% | ||
| Q2 24 | 15.4% | 10.0% | ||
| Q1 24 | 16.8% | 8.6% |
| Q4 25 | 7.0% | 4.8% | ||
| Q3 25 | 10.2% | 4.8% | ||
| Q2 25 | 11.7% | 4.9% | ||
| Q1 25 | 10.0% | 5.5% | ||
| Q4 24 | 11.5% | 8.4% | ||
| Q3 24 | 12.3% | 7.0% | ||
| Q2 24 | 11.0% | 7.7% | ||
| Q1 24 | 11.9% | 6.6% |
| Q4 25 | $3.69 | $0.57 | ||
| Q3 25 | $5.04 | $0.47 | ||
| Q2 25 | $5.32 | $0.56 | ||
| Q1 25 | $4.23 | $0.54 | ||
| Q4 24 | $5.07 | $1.28 | ||
| Q3 24 | $5.65 | $0.70 | ||
| Q2 24 | $4.78 | $0.81 | ||
| Q1 24 | $4.79 | $0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $184.7M | $234.8M |
| Total DebtLower is stronger | $2.8B | $1.6B |
| Stockholders' EquityBook value | $2.3B | $1.4B |
| Total Assets | $6.6B | $3.7B |
| Debt / EquityLower = less leverage | 1.23× | 1.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | $234.8M | ||
| Q3 25 | $1.1B | $251.0M | ||
| Q2 25 | $842.5M | $210.3M | ||
| Q1 25 | $308.8M | $297.5M | ||
| Q4 24 | $400.3M | $274.4M | ||
| Q3 24 | $257.3M | $204.9M | ||
| Q2 24 | $463.2M | $274.8M | ||
| Q1 24 | $968.8M | $239.4M |
| Q4 25 | $2.8B | $1.6B | ||
| Q3 25 | $2.9B | $1.8B | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.4B | $1.3B | ||
| Q3 24 | $1.4B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.3B | $1.4B | ||
| Q3 25 | $2.2B | $1.4B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.3B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.4B | $1.0B | ||
| Q1 24 | $2.7B | $968.7M |
| Q4 25 | $6.6B | $3.7B | ||
| Q3 25 | $6.4B | $3.8B | ||
| Q2 25 | $5.1B | $3.7B | ||
| Q1 25 | $4.6B | $3.5B | ||
| Q4 24 | $4.7B | $3.3B | ||
| Q3 24 | $4.7B | $3.3B | ||
| Q2 24 | $4.9B | $3.0B | ||
| Q1 24 | $5.3B | $2.7B |
| Q4 25 | 1.23× | 1.13× | ||
| Q3 25 | 1.29× | 1.29× | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | 1.03× | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $176.7M | $143.6M |
| Free Cash FlowOCF − Capex | $159.4M | $136.0M |
| FCF MarginFCF / Revenue | 10.7% | 11.2% |
| Capex IntensityCapex / Revenue | 1.2% | 0.6% |
| Cash ConversionOCF / Net Profit | 1.69× | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $-126.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | $143.6M | ||
| Q3 25 | $233.3M | $-131.0M | ||
| Q2 25 | $193.7M | $-68.5M | ||
| Q1 25 | $152.6M | $-44.7M | ||
| Q4 24 | $266.2M | $306.5M | ||
| Q3 24 | $240.7M | $-205.0M | ||
| Q2 24 | $90.4M | $-110.6M | ||
| Q1 24 | $178.8M | $-247.5M |
| Q4 25 | $159.4M | $136.0M | ||
| Q3 25 | $216.2M | $-135.7M | ||
| Q2 25 | $182.2M | $-78.8M | ||
| Q1 25 | $139.2M | $-47.9M | ||
| Q4 24 | $253.7M | $302.6M | ||
| Q3 24 | $219.8M | $-222.5M | ||
| Q2 24 | $74.3M | $-112.4M | ||
| Q1 24 | $158.9M | $-249.6M |
| Q4 25 | 10.7% | 11.2% | ||
| Q3 25 | 15.5% | -14.0% | ||
| Q2 25 | 14.0% | -6.8% | ||
| Q1 25 | 11.3% | -4.8% | ||
| Q4 24 | 19.3% | 19.4% | ||
| Q3 24 | 16.0% | -22.1% | ||
| Q2 24 | 5.4% | -10.6% | ||
| Q1 24 | 12.4% | -30.2% |
| Q4 25 | 1.2% | 0.6% | ||
| Q3 25 | 1.2% | 0.5% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.1% | 0.3% | ||
| Q4 24 | 1.0% | 0.3% | ||
| Q3 24 | 1.5% | 1.7% | ||
| Q2 24 | 1.2% | 0.2% | ||
| Q1 24 | 1.6% | 0.3% |
| Q4 25 | 1.69× | 2.44× | ||
| Q3 25 | 1.64× | -2.79× | ||
| Q2 25 | 1.28× | -1.21× | ||
| Q1 25 | 1.24× | -0.81× | ||
| Q4 24 | 1.77× | 2.35× | ||
| Q3 24 | 1.42× | -2.90× | ||
| Q2 24 | 0.60× | -1.37× | ||
| Q1 24 | 1.17× | -4.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
