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Side-by-side financial comparison of Dream Finders Homes, Inc. (DFH) and M/I HOMES, INC. (MHO). 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 $1.1B, roughly 1.1× M/I HOMES, INC.). M/I HOMES, INC. runs the higher net margin — 5.6% vs 4.8%, a 0.7% gap on every dollar of revenue. On growth, M/I HOMES, INC. posted the faster year-over-year revenue change (-4.8% vs -22.3%). Dream Finders Homes, Inc. produced more free cash flow last quarter ($136.0M vs $-13.0M). Over the past eight quarters, Dream Finders Homes, Inc.'s revenue compounded faster (21.0% CAGR vs 4.7%).
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.
M/I Homes, Inc. is a leading U.S. residential construction company that designs, builds and sells single-family homes, townhomes and duplexes across multiple U.S. states. It caters to entry-level, move-up and luxury homebuyers, offering energy-efficient designs, flexible floor plans and personalized customization options.
DFH vs MHO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.1B |
| Net Profit | $58.8M | $64.0M |
| Gross Margin | — | 17.4% |
| Operating Margin | 6.4% | 6.5% |
| Net Margin | 4.8% | 5.6% |
| Revenue YoY | -22.3% | -4.8% |
| Net Profit YoY | -54.9% | -52.1% |
| EPS (diluted) | $0.57 | $2.42 |
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 | $1.1B | ||
| Q3 25 | $969.8M | $1.1B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $989.9M | $976.1M | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.0B | $1.1B | ||
| Q2 24 | $1.1B | $1.1B | ||
| Q1 24 | $827.8M | $1.0B |
| Q4 25 | $58.8M | $64.0M | ||
| Q3 25 | $47.0M | $106.5M | ||
| Q2 25 | $56.6M | $121.2M | ||
| Q1 25 | $54.9M | $111.2M | ||
| Q4 24 | $130.5M | $133.5M | ||
| Q3 24 | $70.7M | $145.4M | ||
| Q2 24 | $80.9M | $146.7M | ||
| Q1 24 | $54.5M | $138.1M |
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | 19.2% | 27.9% | ||
| Q1 24 | 18.0% | 27.1% |
| Q4 25 | 6.4% | 6.5% | ||
| Q3 25 | 6.3% | 12.0% | ||
| Q2 25 | 6.4% | 13.4% | ||
| Q1 25 | 7.2% | 14.4% | ||
| Q4 24 | 10.8% | 13.6% | ||
| Q3 24 | 9.2% | 15.9% | ||
| Q2 24 | 10.0% | 16.8% | ||
| Q1 24 | 8.6% | 16.6% |
| Q4 25 | 4.8% | 5.6% | ||
| Q3 25 | 4.8% | 9.4% | ||
| Q2 25 | 4.9% | 10.4% | ||
| Q1 25 | 5.5% | 11.4% | ||
| Q4 24 | 8.4% | 11.1% | ||
| Q3 24 | 7.0% | 12.7% | ||
| Q2 24 | 7.7% | 13.2% | ||
| Q1 24 | 6.6% | 13.2% |
| Q4 25 | $0.57 | $2.42 | ||
| Q3 25 | $0.47 | $3.92 | ||
| Q2 25 | $0.56 | $4.42 | ||
| Q1 25 | $0.54 | $3.98 | ||
| Q4 24 | $1.28 | $4.71 | ||
| Q3 24 | $0.70 | $5.10 | ||
| Q2 24 | $0.81 | $5.12 | ||
| Q1 24 | $0.55 | $4.78 |
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 | — |
| Total DebtLower is stronger | $1.6B | — |
| Stockholders' EquityBook value | $1.4B | $3.2B |
| Total Assets | $3.7B | $4.8B |
| Debt / EquityLower = less leverage | 1.13× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $234.8M | — | ||
| Q3 25 | $251.0M | — | ||
| Q2 25 | $210.3M | — | ||
| Q1 25 | $297.5M | — | ||
| Q4 24 | $274.4M | — | ||
| Q3 24 | $204.9M | — | ||
| Q2 24 | $274.8M | — | ||
| Q1 24 | $239.4M | — |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $3.2B | ||
| Q3 25 | $1.4B | $3.1B | ||
| Q2 25 | $1.3B | $3.1B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.2B | $2.9B | ||
| Q3 24 | $1.1B | $2.8B | ||
| Q2 24 | $1.0B | $2.7B | ||
| Q1 24 | $968.7M | $2.6B |
| Q4 25 | $3.7B | $4.8B | ||
| Q3 25 | $3.8B | $4.8B | ||
| Q2 25 | $3.7B | $4.7B | ||
| Q1 25 | $3.5B | $4.6B | ||
| Q4 24 | $3.3B | $4.5B | ||
| Q3 24 | $3.3B | $4.5B | ||
| Q2 24 | $3.0B | $4.3B | ||
| Q1 24 | $2.7B | $4.2B |
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.03× | — | ||
| 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 | $-8.7M |
| Free Cash FlowOCF − Capex | $136.0M | $-13.0M |
| FCF MarginFCF / Revenue | 11.2% | -1.1% |
| Capex IntensityCapex / Revenue | 0.6% | 0.4% |
| Cash ConversionOCF / Net Profit | 2.44× | -0.14× |
| TTM Free Cash FlowTrailing 4 quarters | $-126.4M | $127.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $143.6M | $-8.7M | ||
| Q3 25 | $-131.0M | $43.4M | ||
| Q2 25 | $-68.5M | $37.8M | ||
| Q1 25 | $-44.7M | $64.9M | ||
| Q4 24 | $306.5M | $104.4M | ||
| Q3 24 | $-205.0M | $-67.9M | ||
| Q2 24 | $-110.6M | $27.5M | ||
| Q1 24 | $-247.5M | $115.8M |
| Q4 25 | $136.0M | $-13.0M | ||
| Q3 25 | $-135.7M | $42.0M | ||
| Q2 25 | $-78.8M | $35.1M | ||
| Q1 25 | $-47.9M | $63.5M | ||
| Q4 24 | $302.6M | $102.3M | ||
| Q3 24 | $-222.5M | $-68.5M | ||
| Q2 24 | $-112.4M | $22.0M | ||
| Q1 24 | $-249.6M | $115.5M |
| Q4 25 | 11.2% | -1.1% | ||
| Q3 25 | -14.0% | 3.7% | ||
| Q2 25 | -6.8% | 3.0% | ||
| Q1 25 | -4.8% | 6.5% | ||
| Q4 24 | 19.4% | 8.5% | ||
| Q3 24 | -22.1% | -6.0% | ||
| Q2 24 | -10.6% | 2.0% | ||
| Q1 24 | -30.2% | 11.0% |
| Q4 25 | 0.6% | 0.4% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 0.3% | 0.1% | ||
| Q4 24 | 0.3% | 0.2% | ||
| Q3 24 | 1.7% | 0.1% | ||
| Q2 24 | 0.2% | 0.5% | ||
| Q1 24 | 0.3% | 0.0% |
| Q4 25 | 2.44× | -0.14× | ||
| Q3 25 | -2.79× | 0.41× | ||
| Q2 25 | -1.21× | 0.31× | ||
| Q1 25 | -0.81× | 0.58× | ||
| Q4 24 | 2.35× | 0.78× | ||
| Q3 24 | -2.90× | -0.47× | ||
| Q2 24 | -1.37× | 0.19× | ||
| Q1 24 | -4.54× | 0.84× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
