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Dream Finders Homes, Inc.（DFH）与Martin Marietta Materials（MLM）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Martin Marietta Materials的1.1倍（$1.2B vs $1.1B），Martin Marietta Materials净利率更高（24.5% vs 4.8%，领先19.6%），Dream Finders Homes, Inc.同比增速更快（-22.3% vs -30.1%），Martin Marietta Materials自由现金流更多（$424.0M vs $136.0M），过去两年Dream Finders Homes, Inc.的营收复合增速更高（21.0% vs -4.5%）
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。
马丁·玛丽埃塔材料公司是美国大型集料及重型建筑材料供应商，业务覆盖美国26个州、加拿大及加勒比地区，主要为道路、人行道、地基等各类基建项目提供所需原材料。
DFH vs MLM — 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
DFH
高出7.9%
-30.1%
净利率更高
MLM
高出19.6%
4.8%
自由现金流更多
MLM
多$288.0M
$136.0M
两年增速更快
DFH
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.1B |
| 净利润 | $58.8M | $279.0M |
| 毛利率 | — | 35.0% |
| 营业利润率 | 6.4% | 24.6% |
| 净利率 | 4.8% | 24.5% |
| 营收同比 | -22.3% | -30.1% |
| 净利润同比 | -54.9% | -4.8% |
| 每股收益（稀释后） | $0.57 | $4.59 |
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DFHMLM
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $969.8M | $1.8B | ||
| Q2 25 | $1.2B | $1.8B | ||
| Q1 25 | $989.9M | $1.4B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.0B | $1.9B | ||
| Q2 24 | $1.1B | $1.8B | ||
| Q1 24 | $827.8M | $1.3B |
净利润DFHMLM
| Q4 25 | $58.8M | $279.0M | ||
| Q3 25 | $47.0M | $414.0M | ||
| Q2 25 | $56.6M | $328.0M | ||
| Q1 25 | $54.9M | $116.0M | ||
| Q4 24 | $130.5M | $293.0M | ||
| Q3 24 | $70.7M | $363.0M | ||
| Q2 24 | $80.9M | $294.0M | ||
| Q1 24 | $54.5M | $1.0B |
毛利率DFHMLM
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 33.1% | ||
| Q2 25 | — | 30.0% | ||
| Q1 25 | — | 24.8% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | 19.2% | 29.3% | ||
| Q1 24 | 18.0% | 21.7% |
营业利润率DFHMLM
| Q4 25 | 6.4% | 24.6% | ||
| Q3 25 | 6.3% | 27.4% | ||
| Q2 25 | 6.4% | 25.3% | ||
| Q1 25 | 7.2% | 14.3% | ||
| Q4 24 | 10.8% | 24.4% | ||
| Q3 24 | 9.2% | 25.9% | ||
| Q2 24 | 10.0% | 22.6% | ||
| Q1 24 | 8.6% | — |
净利率DFHMLM
| Q4 25 | 4.8% | 24.5% | ||
| Q3 25 | 4.8% | 22.4% | ||
| Q2 25 | 4.9% | 18.1% | ||
| Q1 25 | 5.5% | 8.6% | ||
| Q4 24 | 8.4% | 18.0% | ||
| Q3 24 | 7.0% | 19.2% | ||
| Q2 24 | 7.7% | 16.7% | ||
| Q1 24 | 6.6% | 83.5% |
每股收益（稀释后）DFHMLM
| Q4 25 | $0.57 | $4.59 | ||
| Q3 25 | $0.47 | $6.85 | ||
| Q2 25 | $0.56 | $5.43 | ||
| Q1 25 | $0.54 | $1.90 | ||
| Q4 24 | $1.28 | $4.87 | ||
| Q3 24 | $0.70 | $5.91 | ||
| Q2 24 | $0.81 | $4.76 | ||
| Q1 24 | $0.55 | $16.87 |
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 | $67.0M |
| 总债务越低越好 | $1.6B | $5.3B |
| 股东权益账面价值 | $1.4B | $10.0B |
| 总资产 | $3.7B | $18.7B |
| 负债/权益比越低杠杆越低 | 1.13× | 0.53× |
8季度趋势，按日历期对齐
现金及短期投资DFHMLM
| Q4 25 | $234.8M | $67.0M | ||
| Q3 25 | $251.0M | $57.0M | ||
| Q2 25 | $210.3M | $225.0M | ||
| Q1 25 | $297.5M | $101.0M | ||
| Q4 24 | $274.4M | $670.0M | ||
| Q3 24 | $204.9M | $52.0M | ||
| Q2 24 | $274.8M | $109.0M | ||
| Q1 24 | $239.4M | $2.6B |
总债务DFHMLM
| Q4 25 | $1.6B | $5.3B | ||
| Q3 25 | $1.8B | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.4B | ||
| Q4 24 | $1.3B | $5.4B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.3B | ||
| Q1 24 | — | $4.3B |
股东权益DFHMLM
| Q4 25 | $1.4B | $10.0B | ||
| Q3 25 | $1.4B | $9.7B | ||
| Q2 25 | $1.3B | $9.4B | ||
| Q1 25 | $1.3B | $9.1B | ||
| Q4 24 | $1.2B | $9.5B | ||
| Q3 24 | $1.1B | $9.2B | ||
| Q2 24 | $1.0B | $8.8B | ||
| Q1 24 | $968.7M | $8.9B |
总资产DFHMLM
| Q4 25 | $3.7B | $18.7B | ||
| Q3 25 | $3.8B | $18.7B | ||
| Q2 25 | $3.7B | $18.1B | ||
| Q1 25 | $3.5B | $17.7B | ||
| Q4 24 | $3.3B | $18.2B | ||
| Q3 24 | $3.3B | $16.5B | ||
| Q2 24 | $3.0B | $16.3B | ||
| Q1 24 | $2.7B | $16.2B |
负债/权益比DFHMLM
| Q4 25 | 1.13× | 0.53× | ||
| Q3 25 | 1.29× | 0.57× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | 1.03× | 0.57× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | 0.49× |
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 | $629.0M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $424.0M |
| 自由现金流率自由现金流/营收 | 11.2% | 37.2% |
| 资本支出强度资本支出/营收 | 0.6% | 18.0% |
| 现金转化率经营现金流/净利润 | 2.44× | 2.25× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $978.0M |
8季度趋势，按日历期对齐
经营现金流DFHMLM
| Q4 25 | $143.6M | $629.0M | ||
| Q3 25 | $-131.0M | $551.0M | ||
| Q2 25 | $-68.5M | $387.0M | ||
| Q1 25 | $-44.7M | $218.0M | ||
| Q4 24 | $306.5M | $686.0M | ||
| Q3 24 | $-205.0M | $600.0M | ||
| Q2 24 | $-110.6M | $1.0M | ||
| Q1 24 | $-247.5M | $172.0M |
自由现金流DFHMLM
| Q4 25 | $136.0M | $424.0M | ||
| Q3 25 | $-135.7M | $361.0M | ||
| Q2 25 | $-78.8M | $208.0M | ||
| Q1 25 | $-47.9M | $-15.0M | ||
| Q4 24 | $302.6M | $453.0M | ||
| Q3 24 | $-222.5M | $317.0M | ||
| Q2 24 | $-112.4M | $-138.0M | ||
| Q1 24 | $-249.6M | $-28.0M |
自由现金流率DFHMLM
| Q4 25 | 11.2% | 37.2% | ||
| Q3 25 | -14.0% | 19.6% | ||
| Q2 25 | -6.8% | 11.5% | ||
| Q1 25 | -4.8% | -1.1% | ||
| Q4 24 | 19.4% | 27.8% | ||
| Q3 24 | -22.1% | 16.8% | ||
| Q2 24 | -10.6% | -7.8% | ||
| Q1 24 | -30.2% | -2.2% |
资本支出强度DFHMLM
| Q4 25 | 0.6% | 18.0% | ||
| Q3 25 | 0.5% | 10.3% | ||
| Q2 25 | 0.9% | 9.9% | ||
| Q1 25 | 0.3% | 17.2% | ||
| Q4 24 | 0.3% | 14.3% | ||
| Q3 24 | 1.7% | 15.0% | ||
| Q2 24 | 0.2% | 7.9% | ||
| Q1 24 | 0.3% | 16.0% |
现金转化率DFHMLM
| Q4 25 | 2.44× | 2.25× | ||
| Q3 25 | -2.79× | 1.33× | ||
| Q2 25 | -1.21× | 1.18× | ||
| Q1 25 | -0.81× | 1.88× | ||
| Q4 24 | 2.35× | 2.34× | ||
| Q3 24 | -2.90× | 1.65× | ||
| Q2 24 | -1.37× | 0.00× | ||
| Q1 24 | -4.54× | 0.16× |
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% |
MLM
| Building Materials Business East Group | $774.0M | 68% |
| Building Materials Business West Group | $233.0M | 20% |
| Services | $88.0M | 8% |
| Other | $45.0M | 4% |
