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Dream Finders Homes, Inc.（DFH）与KB HOME（KBH）财务数据对比。点击上方公司名可切换其他公司
KB HOME的季度营收约是Dream Finders Homes, Inc.的1.4倍（$1.7B vs $1.2B）。KB HOME净利率更高（6.0% vs 4.8%，领先1.1%）。KB HOME同比增速更快（-15.3% vs -22.3%）。KB HOME自由现金流更多（$290.1M vs $136.0M）。过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 7.4%）
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。
KB Home是美国知名住宅建造企业，1957年于密歇根州底特律成立，前身为Kaufman & Broad，是首家在纽约证券交易所上市的住宅建造商，总部现位于加利福尼亚州洛杉矶。
DFH vs KBH — 直观对比
营收规模更大
KBH
是对方的1.4倍
$1.2B
营收增速更快
KBH
高出7.0%
-22.3%
净利率更高
KBH
高出1.1%
4.8%
自由现金流更多
KBH
多$154.0M
$136.0M
两年增速更快
DFH
近两年复合增速
7.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $58.8M | $101.5M |
| 毛利率 | — | — |
| 营业利润率 | 6.4% | — |
| 净利率 | 4.8% | 6.0% |
| 营收同比 | -22.3% | -15.3% |
| 净利润同比 | -54.9% | -46.7% |
| 每股收益（稀释后） | $0.57 | $1.55 |
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DFHKBH
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $969.8M | $1.6B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $989.9M | $1.4B | ||
| Q4 24 | $1.6B | $2.0B | ||
| Q3 24 | $1.0B | $1.8B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $827.8M | $1.5B |
净利润DFHKBH
| Q4 25 | $58.8M | $101.5M | ||
| Q3 25 | $47.0M | $109.8M | ||
| Q2 25 | $56.6M | $107.9M | ||
| Q1 25 | $54.9M | $109.6M | ||
| Q4 24 | $130.5M | $190.6M | ||
| Q3 24 | $70.7M | $157.3M | ||
| Q2 24 | $80.9M | $168.4M | ||
| Q1 24 | $54.5M | $138.7M |
毛利率DFHKBH
| 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DFHKBH
| Q4 25 | 6.4% | — | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | 9.2% | — | ||
| Q2 24 | 10.0% | — | ||
| Q1 24 | 8.6% | — |
净利率DFHKBH
| Q4 25 | 4.8% | 6.0% | ||
| Q3 25 | 4.8% | 6.8% | ||
| Q2 25 | 4.9% | 7.1% | ||
| Q1 25 | 5.5% | 7.9% | ||
| Q4 24 | 8.4% | 9.5% | ||
| Q3 24 | 7.0% | 9.0% | ||
| Q2 24 | 7.7% | 9.9% | ||
| Q1 24 | 6.6% | 9.4% |
每股收益（稀释后）DFHKBH
| Q4 25 | $0.57 | $1.55 | ||
| Q3 25 | $0.47 | $1.61 | ||
| Q2 25 | $0.56 | $1.50 | ||
| Q1 25 | $0.54 | $1.49 | ||
| Q4 24 | $1.28 | $2.50 | ||
| Q3 24 | $0.70 | $2.04 | ||
| Q2 24 | $0.81 | $2.15 | ||
| Q1 24 | $0.55 | $1.76 |
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 | — |
| 股东权益账面价值 | $1.4B | $3.9B |
| 总资产 | $3.7B | $6.7B |
| 负债/权益比越低杠杆越低 | 1.13× | — |
8季度趋势，按日历期对齐
现金及短期投资DFHKBH
| 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DFHKBH
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益DFHKBH
| Q4 25 | $1.4B | $3.9B | ||
| Q3 25 | $1.4B | $3.9B | ||
| Q2 25 | $1.3B | $4.0B | ||
| Q1 25 | $1.3B | $4.1B | ||
| Q4 24 | $1.2B | $4.1B | ||
| Q3 24 | $1.1B | $4.0B | ||
| Q2 24 | $1.0B | $4.0B | ||
| Q1 24 | $968.7M | $3.9B |
总资产DFHKBH
| Q4 25 | $3.7B | $6.7B | ||
| Q3 25 | $3.8B | $7.0B | ||
| Q2 25 | $3.7B | $7.0B | ||
| Q1 25 | $3.5B | $7.0B | ||
| Q4 24 | $3.3B | $6.9B | ||
| Q3 24 | $3.3B | $6.8B | ||
| Q2 24 | $3.0B | $6.8B | ||
| Q1 24 | $2.7B | $6.7B |
负债/权益比DFHKBH
| Q4 25 | 1.13× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.03× | — | ||
| Q3 24 | — | — | ||
| 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 | $303.8M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $290.1M |
| 自由现金流率自由现金流/营收 | 11.2% | 17.1% |
| 资本支出强度资本支出/营收 | 0.6% | 0.8% |
| 现金转化率经营现金流/净利润 | 2.44× | 2.99× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $287.3M |
8季度趋势，按日历期对齐
经营现金流DFHKBH
| Q4 25 | $143.6M | $303.8M | ||
| Q3 25 | $-131.0M | $197.7M | ||
| Q2 25 | $-68.5M | $168.4M | ||
| Q1 25 | $-44.7M | $-334.3M | ||
| Q4 24 | $306.5M | $362.6M | ||
| Q3 24 | $-205.0M | $-89.9M | ||
| Q2 24 | $-110.6M | $61.5M | ||
| Q1 24 | $-247.5M | $28.5M |
自由现金流DFHKBH
| Q4 25 | $136.0M | $290.1M | ||
| Q3 25 | $-135.7M | $185.8M | ||
| Q2 25 | $-78.8M | $156.9M | ||
| Q1 25 | $-47.9M | $-345.5M | ||
| Q4 24 | $302.6M | $352.6M | ||
| Q3 24 | $-222.5M | $-99.4M | ||
| Q2 24 | $-112.4M | $51.2M | ||
| Q1 24 | $-249.6M | $19.1M |
自由现金流率DFHKBH
| Q4 25 | 11.2% | 17.1% | ||
| Q3 25 | -14.0% | 11.5% | ||
| Q2 25 | -6.8% | 10.3% | ||
| Q1 25 | -4.8% | -24.8% | ||
| Q4 24 | 19.4% | 17.6% | ||
| Q3 24 | -22.1% | -5.7% | ||
| Q2 24 | -10.6% | 3.0% | ||
| Q1 24 | -30.2% | 1.3% |
资本支出强度DFHKBH
| Q4 25 | 0.6% | 0.8% | ||
| Q3 25 | 0.5% | 0.7% | ||
| Q2 25 | 0.9% | 0.8% | ||
| Q1 25 | 0.3% | 0.8% | ||
| Q4 24 | 0.3% | 0.5% | ||
| Q3 24 | 1.7% | 0.5% | ||
| Q2 24 | 0.2% | 0.6% | ||
| Q1 24 | 0.3% | 0.6% |
现金转化率DFHKBH
| Q4 25 | 2.44× | 2.99× | ||
| Q3 25 | -2.79× | 1.80× | ||
| Q2 25 | -1.21× | 1.56× | ||
| Q1 25 | -0.81× | -3.05× | ||
| Q4 24 | 2.35× | 1.90× | ||
| Q3 24 | -2.90× | -0.57× | ||
| Q2 24 | -1.37× | 0.37× | ||
| Q1 24 | -4.54× | 0.21× |
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% |
KBH
| Home Building | $1.7B | 99% |
| Financial Service | $8.7M | 1% |
