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Side-by-side financial comparison of Dream Finders Homes, Inc. (DFH) and Equity Residential (EQR). Click either name above to swap in a different company.
Dream Finders Homes, Inc. is the larger business by last-quarter revenue ($1.2B vs $781.9M, roughly 1.6× Equity Residential). Equity Residential runs the higher net margin — 48.9% vs 4.8%, a 44.0% gap on every dollar of revenue. On growth, Equity Residential posted the faster year-over-year revenue change (2.0% vs -22.3%). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 3.4%).
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.
Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.
DFH vs EQR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $781.9M |
| Net Profit | $58.8M | $382.1M |
| Gross Margin | — | — |
| Operating Margin | 6.4% | 50.6% |
| Net Margin | 4.8% | 48.9% |
| Revenue YoY | -22.3% | 2.0% |
| Net Profit YoY | -54.9% | -8.8% |
| EPS (diluted) | $0.57 | $1.01 |
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 | $1.2B | $781.9M | ||
| Q3 25 | $969.8M | $782.4M | ||
| Q2 25 | $1.2B | $768.8M | ||
| Q1 25 | $989.9M | $760.8M | ||
| Q4 24 | $1.6B | $766.8M | ||
| Q3 24 | $1.0B | $748.3M | ||
| Q2 24 | $1.1B | $734.2M | ||
| Q1 24 | $827.8M | $730.8M |
| Q4 25 | $58.8M | $382.1M | ||
| Q3 25 | $47.0M | $289.1M | ||
| Q2 25 | $56.6M | $192.4M | ||
| Q1 25 | $54.9M | $256.6M | ||
| Q4 24 | $130.5M | $419.1M | ||
| Q3 24 | $70.7M | $143.4M | ||
| Q2 24 | $80.9M | $177.5M | ||
| Q1 24 | $54.5M | $295.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 19.2% | — | ||
| Q1 24 | 18.0% | — |
| Q4 25 | 6.4% | 50.6% | ||
| Q3 25 | 6.3% | 38.5% | ||
| Q2 25 | 6.4% | 26.6% | ||
| Q1 25 | 7.2% | 35.7% | ||
| Q4 24 | 10.8% | 57.2% | ||
| Q3 24 | 9.2% | 20.1% | ||
| Q2 24 | 10.0% | 25.3% | ||
| Q1 24 | 8.6% | 42.0% |
| Q4 25 | 4.8% | 48.9% | ||
| Q3 25 | 4.8% | 36.9% | ||
| Q2 25 | 4.9% | 25.0% | ||
| Q1 25 | 5.5% | 33.7% | ||
| Q4 24 | 8.4% | 54.7% | ||
| Q3 24 | 7.0% | 19.2% | ||
| Q2 24 | 7.7% | 24.2% | ||
| Q1 24 | 6.6% | 40.5% |
| Q4 25 | $0.57 | $1.01 | ||
| Q3 25 | $0.47 | $0.76 | ||
| Q2 25 | $0.56 | $0.50 | ||
| Q1 25 | $0.54 | $0.67 | ||
| Q4 24 | $1.28 | $1.10 | ||
| Q3 24 | $0.70 | $0.38 | ||
| Q2 24 | $0.81 | $0.47 | ||
| Q1 24 | $0.55 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $234.8M | $55.9M |
| Total DebtLower is stronger | $1.6B | $8.2B |
| Stockholders' EquityBook value | $1.4B | $11.0B |
| Total Assets | $3.7B | $20.7B |
| Debt / EquityLower = less leverage | 1.13× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $234.8M | $55.9M | ||
| Q3 25 | $251.0M | $93.1M | ||
| Q2 25 | $210.3M | $31.3M | ||
| Q1 25 | $297.5M | $39.8M | ||
| Q4 24 | $274.4M | $62.3M | ||
| Q3 24 | $204.9M | $28.6M | ||
| Q2 24 | $274.8M | $38.3M | ||
| Q1 24 | $239.4M | $44.5M |
| Q4 25 | $1.6B | $8.2B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | $8.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $11.0B | ||
| Q3 25 | $1.4B | $11.1B | ||
| Q2 25 | $1.3B | $11.0B | ||
| Q1 25 | $1.3B | $11.0B | ||
| Q4 24 | $1.2B | $11.0B | ||
| Q3 24 | $1.1B | $10.9B | ||
| Q2 24 | $1.0B | $11.0B | ||
| Q1 24 | $968.7M | $11.1B |
| Q4 25 | $3.7B | $20.7B | ||
| Q3 25 | $3.8B | $21.1B | ||
| Q2 25 | $3.7B | $21.0B | ||
| Q1 25 | $3.5B | $20.6B | ||
| Q4 24 | $3.3B | $20.8B | ||
| Q3 24 | $3.3B | $20.9B | ||
| Q2 24 | $3.0B | $19.8B | ||
| Q1 24 | $2.7B | $19.9B |
| Q4 25 | 1.13× | 0.75× | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.03× | 0.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $143.6M | $387.0M |
| Free Cash FlowOCF − Capex | $136.0M | — |
| FCF MarginFCF / Revenue | 11.2% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | 2.44× | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | $-126.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $143.6M | $387.0M | ||
| Q3 25 | $-131.0M | $476.7M | ||
| Q2 25 | $-68.5M | $359.5M | ||
| Q1 25 | $-44.7M | $425.5M | ||
| Q4 24 | $306.5M | $354.2M | ||
| Q3 24 | $-205.0M | $401.4M | ||
| Q2 24 | $-110.6M | $396.9M | ||
| Q1 24 | $-247.5M | $421.0M |
| Q4 25 | $136.0M | — | ||
| Q3 25 | $-135.7M | — | ||
| Q2 25 | $-78.8M | — | ||
| Q1 25 | $-47.9M | — | ||
| Q4 24 | $302.6M | — | ||
| Q3 24 | $-222.5M | — | ||
| Q2 24 | $-112.4M | — | ||
| Q1 24 | $-249.6M | — |
| Q4 25 | 11.2% | — | ||
| Q3 25 | -14.0% | — | ||
| Q2 25 | -6.8% | — | ||
| Q1 25 | -4.8% | — | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | -22.1% | — | ||
| Q2 24 | -10.6% | — | ||
| Q1 24 | -30.2% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | 2.44× | 1.01× | ||
| Q3 25 | -2.79× | 1.65× | ||
| Q2 25 | -1.21× | 1.87× | ||
| Q1 25 | -0.81× | 1.66× | ||
| Q4 24 | 2.35× | 0.85× | ||
| Q3 24 | -2.90× | 2.80× | ||
| Q2 24 | -1.37× | 2.24× | ||
| Q1 24 | -4.54× | 1.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
EQR
Segment breakdown not available.
