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Dream Finders Homes, Inc.（DFH）与朗美通（LITE）财务数据对比。点击上方公司名可切换其他公司
Dream Finders Homes, Inc.的季度营收约是朗美通的1.8倍（$1.2B vs $665.5M），朗美通净利率更高（11.8% vs 4.8%，领先6.9%），朗美通同比增速更快（65.5% vs -22.3%），Dream Finders Homes, Inc.自由现金流更多（$136.0M vs $43.1M），过去两年朗美通的营收复合增速更高（34.8% vs 21.0%）
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。
朗美通控股（Lumentum Holdings Inc.）是全球知名光电产品供应商，前身为美国捷迪讯（JDSU）旗下光电器件及激光业务板块，2015年8月随捷迪讯分拆独立运营，总部位于美国加利福尼亚州米尔皮塔斯，主营光通信网络设备、激光器、定制光学解决方案等多元产品。
DFH vs LITE — 直观对比
营收规模更大
DFH
是对方的1.8倍
$665.5M
营收增速更快
LITE
高出87.7%
-22.3%
净利率更高
LITE
高出6.9%
4.8%
自由现金流更多
DFH
多$92.9M
$43.1M
两年增速更快
LITE
近两年复合增速
21.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $665.5M |
| 净利润 | $58.8M | $78.2M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 6.4% | 9.7% |
| 净利率 | 4.8% | 11.8% |
| 营收同比 | -22.3% | 65.5% |
| 净利润同比 | -54.9% | 228.4% |
| 每股收益（稀释后） | $0.57 | $0.89 |
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DFHLITE
| Q4 25 | $1.2B | $665.5M | ||
| Q3 25 | $969.8M | $533.8M | ||
| Q2 25 | $1.2B | $480.7M | ||
| Q1 25 | $989.9M | $425.2M | ||
| Q4 24 | $1.6B | $402.2M | ||
| Q3 24 | $1.0B | $336.9M | ||
| Q2 24 | $1.1B | $308.3M | ||
| Q1 24 | $827.8M | $366.5M |
净利润DFHLITE
| Q4 25 | $58.8M | $78.2M | ||
| Q3 25 | $47.0M | $4.2M | ||
| Q2 25 | $56.6M | $213.3M | ||
| Q1 25 | $54.9M | $-44.1M | ||
| Q4 24 | $130.5M | $-60.9M | ||
| Q3 24 | $70.7M | $-82.4M | ||
| Q2 24 | $80.9M | $-252.5M | ||
| Q1 24 | $54.5M | $-127.0M |
毛利率DFHLITE
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 34.0% | ||
| Q2 25 | — | 33.3% | ||
| Q1 25 | — | 28.8% | ||
| Q4 24 | — | 24.8% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | 19.2% | 16.6% | ||
| Q1 24 | 18.0% | 16.2% |
营业利润率DFHLITE
| Q4 25 | 6.4% | 9.7% | ||
| Q3 25 | 6.3% | 1.3% | ||
| Q2 25 | 6.4% | -1.7% | ||
| Q1 25 | 7.2% | -8.9% | ||
| Q4 24 | 10.8% | -12.8% | ||
| Q3 24 | 9.2% | -24.5% | ||
| Q2 24 | 10.0% | -43.3% | ||
| Q1 24 | 8.6% | -31.3% |
净利率DFHLITE
| Q4 25 | 4.8% | 11.8% | ||
| Q3 25 | 4.8% | 0.8% | ||
| Q2 25 | 4.9% | 44.4% | ||
| Q1 25 | 5.5% | -10.4% | ||
| Q4 24 | 8.4% | -15.1% | ||
| Q3 24 | 7.0% | -24.5% | ||
| Q2 24 | 7.7% | -81.9% | ||
| Q1 24 | 6.6% | -34.7% |
每股收益（稀释后）DFHLITE
| Q4 25 | $0.57 | $0.89 | ||
| Q3 25 | $0.47 | $0.05 | ||
| Q2 25 | $0.56 | $3.10 | ||
| Q1 25 | $0.54 | $-0.64 | ||
| Q4 24 | $1.28 | $-0.88 | ||
| Q3 24 | $0.70 | $-1.21 | ||
| Q2 24 | $0.81 | $-3.75 | ||
| Q1 24 | $0.55 | $-1.88 |
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 | $1.2B |
| 总债务越低越好 | $1.6B | — |
| 股东权益账面价值 | $1.4B | $846.6M |
| 总资产 | $3.7B | $4.8B |
| 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DFHLITE
| Q4 25 | $234.8M | $1.2B | ||
| Q3 25 | $251.0M | $1.1B | ||
| Q2 25 | $210.3M | $877.1M | ||
| Q1 25 | $297.5M | $866.7M | ||
| Q4 24 | $274.4M | $896.7M | ||
| Q3 24 | $204.9M | $916.1M | ||
| Q2 24 | $274.8M | $887.0M | ||
| Q1 24 | $239.4M | $870.9M |
总债务DFHLITE
| 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DFHLITE
| Q4 25 | $1.4B | $846.6M | ||
| Q3 25 | $1.4B | $780.8M | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $879.5M | ||
| Q4 24 | $1.2B | $872.3M | ||
| Q3 24 | $1.1B | $895.9M | ||
| Q2 24 | $1.0B | $957.3M | ||
| Q1 24 | $968.7M | $1.2B |
总资产DFHLITE
| Q4 25 | $3.7B | $4.8B | ||
| Q3 25 | $3.8B | $4.6B | ||
| Q2 25 | $3.7B | $4.2B | ||
| Q1 25 | $3.5B | $4.0B | ||
| Q4 24 | $3.3B | $4.0B | ||
| Q3 24 | $3.3B | $4.0B | ||
| Q2 24 | $3.0B | $3.9B | ||
| Q1 24 | $2.7B | $4.2B |
负债/权益比DFHLITE
| 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 | $126.7M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $43.1M |
| 自由现金流率自由现金流/营收 | 11.2% | 6.5% |
| 资本支出强度资本支出/营收 | 0.6% | 12.6% |
| 现金转化率经营现金流/净利润 | 2.44× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $-29.5M |
8季度趋势，按日历期对齐
经营现金流DFHLITE
| Q4 25 | $143.6M | $126.7M | ||
| Q3 25 | $-131.0M | $57.9M | ||
| Q2 25 | $-68.5M | $64.0M | ||
| Q1 25 | $-44.7M | $-1.6M | ||
| Q4 24 | $306.5M | $24.3M | ||
| Q3 24 | $-205.0M | $39.6M | ||
| Q2 24 | $-110.6M | $35.5M | ||
| Q1 24 | $-247.5M | $-7.0M |
自由现金流DFHLITE
| Q4 25 | $136.0M | $43.1M | ||
| Q3 25 | $-135.7M | $-18.3M | ||
| Q2 25 | $-78.8M | $10.1M | ||
| Q1 25 | $-47.9M | $-64.4M | ||
| Q4 24 | $302.6M | $-15.9M | ||
| Q3 24 | $-222.5M | $-34.5M | ||
| Q2 24 | $-112.4M | $10.9M | ||
| Q1 24 | $-249.6M | $-26.6M |
自由现金流率DFHLITE
| Q4 25 | 11.2% | 6.5% | ||
| Q3 25 | -14.0% | -3.4% | ||
| Q2 25 | -6.8% | 2.1% | ||
| Q1 25 | -4.8% | -15.1% | ||
| Q4 24 | 19.4% | -4.0% | ||
| Q3 24 | -22.1% | -10.2% | ||
| Q2 24 | -10.6% | 3.5% | ||
| Q1 24 | -30.2% | -7.3% |
资本支出强度DFHLITE
| Q4 25 | 0.6% | 12.6% | ||
| Q3 25 | 0.5% | 14.3% | ||
| Q2 25 | 0.9% | 11.2% | ||
| Q1 25 | 0.3% | 14.8% | ||
| Q4 24 | 0.3% | 10.0% | ||
| Q3 24 | 1.7% | 22.0% | ||
| Q2 24 | 0.2% | 8.0% | ||
| Q1 24 | 0.3% | 5.3% |
现金转化率DFHLITE
| Q4 25 | 2.44× | 1.62× | ||
| Q3 25 | -2.79× | 13.79× | ||
| Q2 25 | -1.21× | 0.30× | ||
| Q1 25 | -0.81× | — | ||
| Q4 24 | 2.35× | — | ||
| Q3 24 | -2.90× | — | ||
| 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% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
