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Dream Finders Homes, Inc.（DFH）与HOVNANIAN ENTERPRISES INC（HOV）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HOVNANIAN ENTERPRISES INC的1.5倍（$1.2B vs $817.9M）。Dream Finders Homes, Inc.净利率更高（4.8% vs -0.1%，领先4.9%）。HOVNANIAN ENTERPRISES INC同比增速更快（-16.5% vs -22.3%）。HOVNANIAN ENTERPRISES INC自由现金流更多（$164.0M vs $136.0M）。过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 17.3%）
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。
霍夫纳尼安企业是美国知名房地产企业，业务覆盖住宅开发全流程，包含设计、建造与销售，产品线丰富，不仅开发独立独栋住宅，也开发联排别墅、公寓以及养老住宅等高密度居住物业。
DFH vs HOV — 直观对比
营收规模更大
DFH
是对方的1.5倍
$817.9M
营收增速更快
HOV
高出5.7%
-22.3%
净利率更高
DFH
高出4.9%
-0.1%
自由现金流更多
HOV
多$28.0M
$136.0M
两年增速更快
DFH
近两年复合增速
17.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $817.9M |
| 净利润 | $58.8M | $-667.0K |
| 毛利率 | — | — |
| 营业利润率 | 6.4% | -0.5% |
| 净利率 | 4.8% | -0.1% |
| 营收同比 | -22.3% | -16.5% |
| 净利润同比 | -54.9% | -100.7% |
| 每股收益（稀释后） | $0.57 | $-0.57 |
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DFHHOV
| Q4 25 | $1.2B | $817.9M | ||
| Q3 25 | $969.8M | $800.6M | ||
| Q2 25 | $1.2B | $686.5M | ||
| Q1 25 | $989.9M | $673.6M | ||
| Q4 24 | $1.6B | $979.6M | ||
| Q3 24 | $1.0B | $722.7M | ||
| Q2 24 | $1.1B | $708.4M | ||
| Q1 24 | $827.8M | $594.2M |
净利润DFHHOV
| Q4 25 | $58.8M | $-667.0K | ||
| Q3 25 | $47.0M | $16.6M | ||
| Q2 25 | $56.6M | $19.7M | ||
| Q1 25 | $54.9M | $28.2M | ||
| Q4 24 | $130.5M | $94.3M | ||
| Q3 24 | $70.7M | $72.9M | ||
| Q2 24 | $80.9M | $50.8M | ||
| Q1 24 | $54.5M | $23.9M |
毛利率DFHHOV
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 19.2% | — | ||
| Q1 24 | 18.0% | — |
营业利润率DFHHOV
| Q4 25 | 6.4% | -0.5% | ||
| Q3 25 | 6.3% | 3.0% | ||
| Q2 25 | 6.4% | 3.9% | ||
| Q1 25 | 7.2% | 5.9% | ||
| Q4 24 | 10.8% | 12.0% | ||
| Q3 24 | 9.2% | 13.5% | ||
| Q2 24 | 10.0% | 9.8% | ||
| Q1 24 | 8.6% | 5.5% |
净利率DFHHOV
| Q4 25 | 4.8% | -0.1% | ||
| Q3 25 | 4.8% | 2.1% | ||
| Q2 25 | 4.9% | 2.9% | ||
| Q1 25 | 5.5% | 4.2% | ||
| Q4 24 | 8.4% | 9.6% | ||
| Q3 24 | 7.0% | 10.1% | ||
| Q2 24 | 7.7% | 7.2% | ||
| Q1 24 | 6.6% | 4.0% |
每股收益（稀释后）DFHHOV
| Q4 25 | $0.57 | $-0.57 | ||
| Q3 25 | $0.47 | $1.99 | ||
| Q2 25 | $0.56 | $2.43 | ||
| Q1 25 | $0.54 | $3.58 | ||
| Q4 24 | $1.28 | $12.47 | ||
| Q3 24 | $0.70 | $9.75 | ||
| Q2 24 | $0.81 | $6.66 | ||
| Q1 24 | $0.55 | $2.91 |
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 | — |
| 总债务越低越好 | $1.6B | $900.7M |
| 股东权益账面价值 | $1.4B | $830.9M |
| 总资产 | $3.7B | $2.6B |
| 负债/权益比越低杠杆越低 | 1.13× | 1.08× |
8季度趋势，按日历期对齐
现金及短期投资DFHHOV
| 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 | — |
总债务DFHHOV
| Q4 25 | $1.6B | $900.7M | ||
| Q3 25 | $1.8B | $861.9M | ||
| Q2 25 | — | $864.3M | ||
| Q1 25 | — | $893.7M | ||
| Q4 24 | $1.3B | $896.2M | ||
| Q3 24 | — | $898.7M | ||
| Q2 24 | — | $933.0M | ||
| Q1 24 | — | $934.6M |
股东权益DFHHOV
| Q4 25 | $1.4B | $830.9M | ||
| Q3 25 | $1.4B | $835.4M | ||
| Q2 25 | $1.3B | $820.4M | ||
| Q1 25 | $1.3B | $811.4M | ||
| Q4 24 | $1.2B | $800.3M | ||
| Q3 24 | $1.1B | $703.4M | ||
| Q2 24 | $1.0B | $647.0M | ||
| Q1 24 | $968.7M | $607.1M |
总资产DFHHOV
| Q4 25 | $3.7B | $2.6B | ||
| Q3 25 | $3.8B | $2.6B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $3.5B | $2.5B | ||
| Q4 24 | $3.3B | $2.6B | ||
| Q3 24 | $3.3B | $2.5B | ||
| Q2 24 | $3.0B | $2.3B | ||
| Q1 24 | $2.7B | $2.3B |
负债/权益比DFHHOV
| Q4 25 | 1.13× | 1.08× | ||
| Q3 25 | 1.29× | 1.03× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | 1.03× | 1.12× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | — | 1.44× | ||
| Q1 24 | — | 1.54× |
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 | $169.1M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $164.0M |
| 自由现金流率自由现金流/营收 | 11.2% | 20.0% |
| 资本支出强度资本支出/营收 | 0.6% | 0.6% |
| 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 | $166.2M |
8季度趋势，按日历期对齐
经营现金流DFHHOV
| Q4 25 | $143.6M | $169.1M | ||
| Q3 25 | $-131.0M | $52.8M | ||
| Q2 25 | $-68.5M | $22.3M | ||
| Q1 25 | $-44.7M | $-55.9M | ||
| Q4 24 | $306.5M | $115.8M | ||
| Q3 24 | $-205.0M | $-92.3M | ||
| Q2 24 | $-110.6M | $89.1M | ||
| Q1 24 | $-247.5M | $-89.0M |
自由现金流DFHHOV
| Q4 25 | $136.0M | $164.0M | ||
| Q3 25 | $-135.7M | $45.8M | ||
| Q2 25 | $-78.8M | $16.0M | ||
| Q1 25 | $-47.9M | $-59.6M | ||
| Q4 24 | $302.6M | $111.4M | ||
| Q3 24 | $-222.5M | $-95.8M | ||
| Q2 24 | $-112.4M | $84.7M | ||
| Q1 24 | $-249.6M | $-94.4M |
自由现金流率DFHHOV
| Q4 25 | 11.2% | 20.0% | ||
| Q3 25 | -14.0% | 5.7% | ||
| Q2 25 | -6.8% | 2.3% | ||
| Q1 25 | -4.8% | -8.8% | ||
| Q4 24 | 19.4% | 11.4% | ||
| Q3 24 | -22.1% | -13.3% | ||
| Q2 24 | -10.6% | 12.0% | ||
| Q1 24 | -30.2% | -15.9% |
资本支出强度DFHHOV
| Q4 25 | 0.6% | 0.6% | ||
| Q3 25 | 0.5% | 0.9% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 0.3% | 0.5% | ||
| Q4 24 | 0.3% | 0.5% | ||
| Q3 24 | 1.7% | 0.5% | ||
| Q2 24 | 0.2% | 0.6% | ||
| Q1 24 | 0.3% | 0.9% |
现金转化率DFHHOV
| Q4 25 | 2.44× | — | ||
| Q3 25 | -2.79× | 3.18× | ||
| Q2 25 | -1.21× | 1.13× | ||
| Q1 25 | -0.81× | -1.98× | ||
| Q4 24 | 2.35× | 1.23× | ||
| Q3 24 | -2.90× | -1.27× | ||
| Q2 24 | -1.37× | 1.75× | ||
| Q1 24 | -4.54× | -3.72× |
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% |
HOV
| Home Building | $789.8M | 97% |
| Financial Services | $28.1M | 3% |
| Management Fees | $7.1M | 1% |
