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Dream Finders Homes, Inc.（DFH）与Cloudflare, Inc.（NET）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Cloudflare, Inc.的2.0倍（$1.2B vs $614.5M），Dream Finders Homes, Inc.净利率更高（4.8% vs -2.0%，领先6.8%），Cloudflare, Inc.同比增速更快（33.6% vs -22.3%），Dream Finders Homes, Inc.自由现金流更多（$136.0M vs $105.2M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% 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。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
DFH vs NET — 直观对比
营收规模更大
DFH
是对方的2.0倍
$614.5M
营收增速更快
NET
高出55.9%
-22.3%
净利率更高
DFH
高出6.8%
-2.0%
自由现金流更多
DFH
多$30.8M
$105.2M
两年增速更快
NET
近两年复合增速
21.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $614.5M |
| 净利润 | $58.8M | $-12.1M |
| 毛利率 | — | 73.6% |
| 营业利润率 | 6.4% | -8.0% |
| 净利率 | 4.8% | -2.0% |
| 营收同比 | -22.3% | 33.6% |
| 净利润同比 | -54.9% | 6.0% |
| 每股收益（稀释后） | $0.57 | $-0.03 |
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DFHNET
| Q4 25 | $1.2B | $614.5M | ||
| Q3 25 | $969.8M | $562.0M | ||
| Q2 25 | $1.2B | $512.3M | ||
| Q1 25 | $989.9M | $479.1M | ||
| Q4 24 | $1.6B | $459.9M | ||
| Q3 24 | $1.0B | $430.1M | ||
| Q2 24 | $1.1B | $401.0M | ||
| Q1 24 | $827.8M | $378.6M |
净利润DFHNET
| Q4 25 | $58.8M | $-12.1M | ||
| Q3 25 | $47.0M | $-1.3M | ||
| Q2 25 | $56.6M | $-50.4M | ||
| Q1 25 | $54.9M | $-38.5M | ||
| Q4 24 | $130.5M | $-12.8M | ||
| Q3 24 | $70.7M | $-15.3M | ||
| Q2 24 | $80.9M | $-15.1M | ||
| Q1 24 | $54.5M | $-35.5M |
毛利率DFHNET
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.0% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 77.7% | ||
| Q2 24 | 19.2% | 77.8% | ||
| Q1 24 | 18.0% | 77.5% |
营业利润率DFHNET
| Q4 25 | 6.4% | -8.0% | ||
| Q3 25 | 6.3% | -6.7% | ||
| Q2 25 | 6.4% | -13.1% | ||
| Q1 25 | 7.2% | -11.1% | ||
| Q4 24 | 10.8% | -7.5% | ||
| Q3 24 | 9.2% | -7.2% | ||
| Q2 24 | 10.0% | -8.7% | ||
| Q1 24 | 8.6% | -14.4% |
净利率DFHNET
| Q4 25 | 4.8% | -2.0% | ||
| Q3 25 | 4.8% | -0.2% | ||
| Q2 25 | 4.9% | -9.8% | ||
| Q1 25 | 5.5% | -8.0% | ||
| Q4 24 | 8.4% | -2.8% | ||
| Q3 24 | 7.0% | -3.6% | ||
| Q2 24 | 7.7% | -3.8% | ||
| Q1 24 | 6.6% | -9.4% |
每股收益（稀释后）DFHNET
| Q4 25 | $0.57 | $-0.03 | ||
| Q3 25 | $0.47 | $0.00 | ||
| Q2 25 | $0.56 | $-0.15 | ||
| Q1 25 | $0.54 | $-0.11 | ||
| Q4 24 | $1.28 | $-0.05 | ||
| Q3 24 | $0.70 | $-0.04 | ||
| Q2 24 | $0.81 | $-0.04 | ||
| Q1 24 | $0.55 | $-0.10 |
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 | $943.5M |
| 总债务越低越好 | $1.6B | — |
| 股东权益账面价值 | $1.4B | $1.5B |
| 总资产 | $3.7B | $6.0B |
| 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DFHNET
| Q4 25 | $234.8M | $943.5M | ||
| Q3 25 | $251.0M | $1.1B | ||
| Q2 25 | $210.3M | $1.5B | ||
| Q1 25 | $297.5M | $204.5M | ||
| Q4 24 | $274.4M | $147.7M | ||
| Q3 24 | $204.9M | $182.9M | ||
| Q2 24 | $274.8M | $157.0M | ||
| Q1 24 | $239.4M | $254.4M |
总债务DFHNET
| 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DFHNET
| Q4 25 | $1.4B | $1.5B | ||
| Q3 25 | $1.4B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.3B | $1.4B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.1B | $973.1M | ||
| Q2 24 | $1.0B | $881.5M | ||
| Q1 24 | $968.7M | $797.2M |
总资产DFHNET
| Q4 25 | $3.7B | $6.0B | ||
| Q3 25 | $3.8B | $5.8B | ||
| Q2 25 | $3.7B | $5.6B | ||
| Q1 25 | $3.5B | $3.7B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.0B | $2.9B | ||
| Q1 24 | $2.7B | $2.8B |
负债/权益比DFHNET
| 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 | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $105.2M |
| 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% | 13.9% |
| 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 | $287.5M |
8季度趋势，按日历期对齐
经营现金流DFHNET
| Q4 25 | $143.6M | $190.4M | ||
| Q3 25 | $-131.0M | $167.1M | ||
| Q2 25 | $-68.5M | $99.8M | ||
| Q1 25 | $-44.7M | $145.8M | ||
| Q4 24 | $306.5M | $127.3M | ||
| Q3 24 | $-205.0M | $104.7M | ||
| Q2 24 | $-110.6M | $74.8M | ||
| Q1 24 | $-247.5M | $73.6M |
自由现金流DFHNET
| Q4 25 | $136.0M | $105.2M | ||
| Q3 25 | $-135.7M | $82.5M | ||
| Q2 25 | $-78.8M | $39.9M | ||
| Q1 25 | $-47.9M | $59.9M | ||
| Q4 24 | $302.6M | $54.2M | ||
| Q3 24 | $-222.5M | $54.5M | ||
| Q2 24 | $-112.4M | $45.2M | ||
| Q1 24 | $-249.6M | $41.5M |
自由现金流率DFHNET
| Q4 25 | 11.2% | 17.1% | ||
| Q3 25 | -14.0% | 14.7% | ||
| Q2 25 | -6.8% | 7.8% | ||
| Q1 25 | -4.8% | 12.5% | ||
| Q4 24 | 19.4% | 11.8% | ||
| Q3 24 | -22.1% | 12.7% | ||
| Q2 24 | -10.6% | 11.3% | ||
| Q1 24 | -30.2% | 11.0% |
资本支出强度DFHNET
| Q4 25 | 0.6% | 13.9% | ||
| Q3 25 | 0.5% | 15.1% | ||
| Q2 25 | 0.9% | 11.7% | ||
| Q1 25 | 0.3% | 17.9% | ||
| Q4 24 | 0.3% | 15.9% | ||
| Q3 24 | 1.7% | 11.7% | ||
| Q2 24 | 0.2% | 7.4% | ||
| Q1 24 | 0.3% | 8.5% |
现金转化率DFHNET
| Q4 25 | 2.44× | — | ||
| Q3 25 | -2.79× | — | ||
| Q2 25 | -1.21× | — | ||
| 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% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
