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Dream Finders Homes, Inc.（DFH）与M/I HOMES, INC.（MHO）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M/I HOMES, INC.的1.1倍（$1.2B vs $1.1B）。M/I HOMES, INC.净利率更高（5.6% vs 4.8%，领先0.7%）。M/I HOMES, INC.同比增速更快（-4.8% vs -22.3%）。Dream Finders Homes, Inc.自由现金流更多（$136.0M vs $-13.0M）。过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs 4.7%）
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。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
DFH vs MHO — 直观对比
营收规模更大
DFH
是对方的1.1倍
$1.1B
营收增速更快
MHO
高出17.4%
-22.3%
净利率更高
MHO
高出0.7%
4.8%
自由现金流更多
DFH
多$149.0M
$-13.0M
两年增速更快
DFH
近两年复合增速
4.7%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $58.8M | $64.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | 6.4% | 6.5% |
| 净利率 | 4.8% | 5.6% |
| 营收同比 | -22.3% | -4.8% |
| 净利润同比 | -54.9% | -52.1% |
| 每股收益（稀释后） | $0.57 | $2.42 |
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DFHMHO
| 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 |
净利润DFHMHO
| 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 |
毛利率DFHMHO
| 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% |
营业利润率DFHMHO
| 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% |
净利率DFHMHO
| 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% |
每股收益（稀释后）DFHMHO
| 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 |
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 | $3.2B |
| 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DFHMHO
| 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DFHMHO
| 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DFHMHO
| 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 |
总资产DFHMHO
| 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 |
负债/权益比DFHMHO
| 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 | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $-13.0M |
| 自由现金流率自由现金流/营收 | 11.2% | -1.1% |
| 资本支出强度资本支出/营收 | 0.6% | 0.4% |
| 现金转化率经营现金流/净利润 | 2.44× | -0.14× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $127.7M |
8季度趋势，按日历期对齐
经营现金流DFHMHO
| 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 |
自由现金流DFHMHO
| 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 |
自由现金流率DFHMHO
| 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% |
资本支出强度DFHMHO
| 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% |
现金转化率DFHMHO
| 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× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
