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Side-by-side financial comparison of Dream Finders Homes, Inc. (DFH) and Howard Hughes Holdings Inc. (HHH). 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 $624.4M, roughly 1.9× Howard Hughes Holdings Inc.). Dream Finders Homes, Inc. runs the higher net margin — 4.8% vs 1.0%, a 3.9% gap on every dollar of revenue. On growth, Dream Finders Homes, Inc. posted the faster year-over-year revenue change (-22.3% vs -33.2%). Howard Hughes Holdings Inc. produced more free cash flow last quarter ($348.6M vs $136.0M). Over the past eight quarters, Howard Hughes Holdings Inc.'s revenue compounded faster (91.0% CAGR vs 21.0%).
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.
Howard Hughes Holdings Inc., formerly the Howard Hughes Corporation, is a real estate development and management company based in The Woodlands, Texas. It was formed in 2010 as a spin-off from General Growth Properties (GGP). Most of its holdings are focused on several master-planned communities. It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.
DFH vs HHH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $624.4M |
| Net Profit | $58.8M | $6.0M |
| Gross Margin | — | — |
| Operating Margin | 6.4% | 4.2% |
| Net Margin | 4.8% | 1.0% |
| Revenue YoY | -22.3% | -33.2% |
| Net Profit YoY | -54.9% | -96.2% |
| EPS (diluted) | $0.57 | $0.20 |
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 | $624.4M | ||
| Q3 25 | $969.8M | $390.2M | ||
| Q2 25 | $1.2B | $260.9M | ||
| Q1 25 | $989.9M | $199.3M | ||
| Q4 24 | $1.6B | $935.0M | ||
| Q3 24 | $1.0B | $327.1M | ||
| Q2 24 | $1.1B | $317.4M | ||
| Q1 24 | $827.8M | $171.1M |
| Q4 25 | $58.8M | $6.0M | ||
| Q3 25 | $47.0M | $119.5M | ||
| Q2 25 | $56.6M | $-12.1M | ||
| Q1 25 | $54.9M | $10.5M | ||
| Q4 24 | $130.5M | $156.3M | ||
| Q3 24 | $70.7M | $72.8M | ||
| Q2 24 | $80.9M | $21.1M | ||
| Q1 24 | $54.5M | $-52.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 19.2% | — | ||
| Q1 24 | 18.0% | — |
| Q4 25 | 6.4% | 4.2% | ||
| Q3 25 | 6.3% | 48.6% | ||
| Q2 25 | 6.4% | 26.0% | ||
| Q1 25 | 7.2% | 24.0% | ||
| Q4 24 | 10.8% | 33.5% | ||
| Q3 24 | 9.2% | 60.6% | ||
| Q2 24 | 10.0% | 20.4% | ||
| Q1 24 | 8.6% | -9.8% |
| Q4 25 | 4.8% | 1.0% | ||
| Q3 25 | 4.8% | 30.6% | ||
| Q2 25 | 4.9% | -4.7% | ||
| Q1 25 | 5.5% | 5.3% | ||
| Q4 24 | 8.4% | 16.7% | ||
| Q3 24 | 7.0% | 22.2% | ||
| Q2 24 | 7.7% | 6.6% | ||
| Q1 24 | 6.6% | -30.7% |
| Q4 25 | $0.57 | $0.20 | ||
| Q3 25 | $0.47 | $2.02 | ||
| Q2 25 | $0.56 | $-0.22 | ||
| Q1 25 | $0.54 | $0.21 | ||
| Q4 24 | $1.28 | $3.14 | ||
| Q3 24 | $0.70 | $1.46 | ||
| Q2 24 | $0.81 | $0.42 | ||
| Q1 24 | $0.55 | $-1.06 |
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 | $1.5B |
| Total DebtLower is stronger | $1.6B | $5.1B |
| Stockholders' EquityBook value | $1.4B | $3.8B |
| Total Assets | $3.7B | $10.6B |
| Debt / EquityLower = less leverage | 1.13× | 1.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $234.8M | $1.5B | ||
| Q3 25 | $251.0M | $1.5B | ||
| Q2 25 | $210.3M | $1.4B | ||
| Q1 25 | $297.5M | $493.7M | ||
| Q4 24 | $274.4M | $596.1M | ||
| Q3 24 | $204.9M | $400.7M | ||
| Q2 24 | $274.8M | $436.8M | ||
| Q1 24 | $239.4M | $462.7M |
| Q4 25 | $1.6B | $5.1B | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | $5.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $3.8B | ||
| Q3 25 | $1.4B | $3.8B | ||
| Q2 25 | $1.3B | $3.6B | ||
| Q1 25 | $1.3B | $2.8B | ||
| Q4 24 | $1.2B | $2.8B | ||
| Q3 24 | $1.1B | $2.6B | ||
| Q2 24 | $1.0B | $3.0B | ||
| Q1 24 | $968.7M | $2.9B |
| Q4 25 | $3.7B | $10.6B | ||
| Q3 25 | $3.8B | $10.7B | ||
| Q2 25 | $3.7B | $10.3B | ||
| Q1 25 | $3.5B | $9.3B | ||
| Q4 24 | $3.3B | $9.2B | ||
| Q3 24 | $3.3B | $9.4B | ||
| Q2 24 | $3.0B | $9.9B | ||
| Q1 24 | $2.7B | $9.6B |
| Q4 25 | 1.13× | 1.35× | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.03× | 1.85× | ||
| 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 | $360.3M |
| Free Cash FlowOCF − Capex | $136.0M | $348.6M |
| FCF MarginFCF / Revenue | 11.2% | 55.8% |
| Capex IntensityCapex / Revenue | 0.6% | 1.9% |
| Cash ConversionOCF / Net Profit | 2.44× | 60.04× |
| TTM Free Cash FlowTrailing 4 quarters | $-126.4M | $417.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $143.6M | $360.3M | ||
| Q3 25 | $-131.0M | $149.8M | ||
| Q2 25 | $-68.5M | $177.3M | ||
| Q1 25 | $-44.7M | $-224.9M | ||
| Q4 24 | $306.5M | $337.1M | ||
| Q3 24 | $-205.0M | $248.3M | ||
| Q2 24 | $-110.6M | $-17.5M | ||
| Q1 24 | $-247.5M | $-171.2M |
| Q4 25 | $136.0M | $348.6M | ||
| Q3 25 | $-135.7M | $137.7M | ||
| Q2 25 | $-78.8M | $169.7M | ||
| Q1 25 | $-47.9M | $-238.4M | ||
| Q4 24 | $302.6M | $317.1M | ||
| Q3 24 | $-222.5M | $238.7M | ||
| Q2 24 | $-112.4M | $-25.1M | ||
| Q1 24 | $-249.6M | $-182.0M |
| Q4 25 | 11.2% | 55.8% | ||
| Q3 25 | -14.0% | 35.3% | ||
| Q2 25 | -6.8% | 65.1% | ||
| Q1 25 | -4.8% | -119.6% | ||
| Q4 24 | 19.4% | 33.9% | ||
| Q3 24 | -22.1% | 73.0% | ||
| Q2 24 | -10.6% | -7.9% | ||
| Q1 24 | -30.2% | -106.4% |
| Q4 25 | 0.6% | 1.9% | ||
| Q3 25 | 0.5% | 3.1% | ||
| Q2 25 | 0.9% | 2.9% | ||
| Q1 25 | 0.3% | 6.8% | ||
| Q4 24 | 0.3% | 2.1% | ||
| Q3 24 | 1.7% | 2.9% | ||
| Q2 24 | 0.2% | 2.4% | ||
| Q1 24 | 0.3% | 6.3% |
| Q4 25 | 2.44× | 60.04× | ||
| Q3 25 | -2.79× | 1.25× | ||
| Q2 25 | -1.21× | — | ||
| Q1 25 | -0.81× | -21.35× | ||
| Q4 24 | 2.35× | 2.16× | ||
| Q3 24 | -2.90× | 3.41× | ||
| Q2 24 | -1.37× | -0.83× | ||
| Q1 24 | -4.54× | — |
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% |
HHH
| Transferred At Point In Time | $499.8M | 80% |
| Operating Assets Segment | $117.9M | 19% |
| Builder Price Participation | $12.9M | 2% |
