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Dream Finders Homes, Inc.（DFH）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
Dream Finders Homes, Inc.的季度营收约是六旗的1.9倍（$1.2B vs $650.1M），Dream Finders Homes, Inc.净利率更高（4.8% vs -14.2%，领先19.1%），Dream Finders Homes, Inc.自由现金流更多（$136.0M vs $-109.3M）
美国住宅建筑商Dream Finders Homes主要建造并销售独栋住宅、联排别墅等覆盖入门级到高端档次的居住物业，业务布局美国多个高速增长区域，同时为购房者提供按揭融资、产权保险、房屋保修等配套服务，覆盖各类客户群体。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
DFH vs FUN — 直观对比
营收规模更大
DFH
是对方的1.9倍
$650.1M
净利率更高
DFH
高出19.1%
-14.2%
自由现金流更多
DFH
多$245.3M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $650.1M |
| 净利润 | $58.8M | $-92.4M |
| 毛利率 | — | 91.4% |
| 营业利润率 | 6.4% | -3.8% |
| 净利率 | 4.8% | -14.2% |
| 营收同比 | -22.3% | — |
| 净利润同比 | -54.9% | — |
| 每股收益（稀释后） | $0.57 | $-0.93 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DFHFUN
| Q4 25 | $1.2B | $650.1M | ||
| Q3 25 | $969.8M | $1.3B | ||
| Q2 25 | $1.2B | $930.4M | ||
| Q1 25 | $989.9M | $202.1M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $1.1B | $571.6M | ||
| Q1 24 | $827.8M | — |
净利润DFHFUN
| Q4 25 | $58.8M | $-92.4M | ||
| Q3 25 | $47.0M | $-1.2B | ||
| Q2 25 | $56.6M | $-99.6M | ||
| Q1 25 | $54.9M | $-219.7M | ||
| Q4 24 | $130.5M | — | ||
| Q3 24 | $70.7M | $111.0M | ||
| Q2 24 | $80.9M | $55.6M | ||
| Q1 24 | $54.5M | — |
毛利率DFHFUN
| Q4 25 | — | 91.4% | ||
| Q3 25 | — | 91.6% | ||
| Q2 25 | — | 91.3% | ||
| Q1 25 | — | 89.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 91.9% | ||
| Q2 24 | 19.2% | 90.7% | ||
| Q1 24 | 18.0% | — |
营业利润率DFHFUN
| Q4 25 | 6.4% | -3.8% | ||
| Q3 25 | 6.3% | -83.7% | ||
| Q2 25 | 6.4% | 8.0% | ||
| Q1 25 | 7.2% | -158.9% | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | 9.2% | 19.5% | ||
| Q2 24 | 10.0% | 21.6% | ||
| Q1 24 | 8.6% | — |
净利率DFHFUN
| Q4 25 | 4.8% | -14.2% | ||
| Q3 25 | 4.8% | -90.1% | ||
| Q2 25 | 4.9% | -10.7% | ||
| Q1 25 | 5.5% | -108.7% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 7.0% | 8.2% | ||
| Q2 24 | 7.7% | 9.7% | ||
| Q1 24 | 6.6% | — |
每股收益（稀释后）DFHFUN
| Q4 25 | $0.57 | $-0.93 | ||
| Q3 25 | $0.47 | $-11.77 | ||
| Q2 25 | $0.56 | $-0.99 | ||
| Q1 25 | $0.54 | $-2.20 | ||
| Q4 24 | $1.28 | — | ||
| Q3 24 | $0.70 | $1.10 | ||
| Q2 24 | $0.81 | — | ||
| Q1 24 | $0.55 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $234.8M | $91.1M |
| 总债务越低越好 | $1.6B | $5.2B |
| 股东权益账面价值 | $1.4B | $549.8M |
| 总资产 | $3.7B | $7.8B |
| 负债/权益比越低杠杆越低 | 1.13× | 9.40× |
8季度趋势，按日历期对齐
现金及短期投资DFHFUN
| Q4 25 | $234.8M | $91.1M | ||
| Q3 25 | $251.0M | $70.7M | ||
| Q2 25 | $210.3M | $107.4M | ||
| Q1 25 | $297.5M | $61.5M | ||
| Q4 24 | $274.4M | — | ||
| Q3 24 | $204.9M | $89.7M | ||
| Q2 24 | $274.8M | $52.9M | ||
| Q1 24 | $239.4M | — |
总债务DFHFUN
| Q4 25 | $1.6B | $5.2B | ||
| Q3 25 | $1.8B | $5.0B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | — |
股东权益DFHFUN
| Q4 25 | $1.4B | $549.8M | ||
| Q3 25 | $1.4B | $614.3M | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $2.3B | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $968.7M | — |
总资产DFHFUN
| Q4 25 | $3.7B | $7.8B | ||
| Q3 25 | $3.8B | $7.9B | ||
| Q2 25 | $3.7B | $9.5B | ||
| Q1 25 | $3.5B | $9.2B | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.3B | $9.4B | ||
| Q2 24 | $3.0B | $2.3B | ||
| Q1 24 | $2.7B | — |
负债/权益比DFHFUN
| Q4 25 | 1.13× | 9.40× | ||
| Q3 25 | 1.29× | 8.16× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $143.6M | $-37.7M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $-109.3M |
| 自由现金流率自由现金流/营收 | 11.2% | -16.8% |
| 资本支出强度资本支出/营收 | 0.6% | 11.0% |
| 现金转化率经营现金流/净利润 | 2.44× | — |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $-152.2M |
8季度趋势，按日历期对齐
经营现金流DFHFUN
| Q4 25 | $143.6M | $-37.7M | ||
| Q3 25 | $-131.0M | $356.2M | ||
| Q2 25 | $-68.5M | $187.0M | ||
| Q1 25 | $-44.7M | $-178.0M | ||
| Q4 24 | $306.5M | — | ||
| Q3 24 | $-205.0M | $337.4M | ||
| Q2 24 | $-110.6M | — | ||
| Q1 24 | $-247.5M | — |
自由现金流DFHFUN
| Q4 25 | $136.0M | $-109.3M | ||
| Q3 25 | $-135.7M | $256.2M | ||
| Q2 25 | $-78.8M | $18.8M | ||
| Q1 25 | $-47.9M | $-318.0M | ||
| Q4 24 | $302.6M | — | ||
| Q3 24 | $-222.5M | $227.7M | ||
| Q2 24 | $-112.4M | — | ||
| Q1 24 | $-249.6M | — |
自由现金流率DFHFUN
| Q4 25 | 11.2% | -16.8% | ||
| Q3 25 | -14.0% | 19.4% | ||
| Q2 25 | -6.8% | 2.0% | ||
| Q1 25 | -4.8% | -157.4% | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | -22.1% | 16.9% | ||
| Q2 24 | -10.6% | — | ||
| Q1 24 | -30.2% | — |
资本支出强度DFHFUN
| Q4 25 | 0.6% | 11.0% | ||
| Q3 25 | 0.5% | 7.6% | ||
| Q2 25 | 0.9% | 18.1% | ||
| Q1 25 | 0.3% | 69.3% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 1.7% | 8.1% | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
现金转化率DFHFUN
| Q4 25 | 2.44× | — | ||
| Q3 25 | -2.79× | — | ||
| Q2 25 | -1.21× | — | ||
| Q1 25 | -0.81× | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | -2.90× | 3.04× | ||
| Q2 24 | -1.37× | — | ||
| Q1 24 | -4.54× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DFH
| Midwest Segment | $454.2M | 37% |
| Southeast Segment | $397.5M | 33% |
| Mid Atlantic Segment | $307.3M | 25% |
| Financial Services Segment | $53.7M | 4% |
FUN
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
