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Dream Finders Homes, Inc.（DFH）与Toast, Inc.（TOST）财务数据对比。点击上方公司名可切换其他公司
Toast, Inc.的季度营收约是Dream Finders Homes, Inc.的1.3倍（$1.6B vs $1.2B），Toast, Inc.净利率更高（6.2% vs 4.8%，领先1.3%），Toast, Inc.同比增速更快（22.0% vs -22.3%），Toast, Inc.自由现金流更多（$178.0M vs $136.0M），过去两年Toast, Inc.的营收复合增速更高（23.3% 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。
Toast, Inc.是总部位于美国马萨诸塞州波士顿的云餐饮管理软件企业，主打基于安卓操作系统研发的一体化销售点（POS）系统，可为餐饮商家提供涵盖收银、订单管理等在内的全场景门店经营解决方案。
DFH vs TOST — 直观对比
营收规模更大
TOST
是对方的1.3倍
$1.2B
营收增速更快
TOST
高出44.3%
-22.3%
净利率更高
TOST
高出1.3%
4.8%
自由现金流更多
TOST
多$42.0M
$136.0M
两年增速更快
TOST
近两年复合增速
21.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.6B |
| 净利润 | $58.8M | $101.0M |
| 毛利率 | — | 25.9% |
| 营业利润率 | 6.4% | 5.2% |
| 净利率 | 4.8% | 6.2% |
| 营收同比 | -22.3% | 22.0% |
| 净利润同比 | -54.9% | 215.6% |
| 每股收益（稀释后） | $0.57 | $0.18 |
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DFHTOST
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $969.8M | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $989.9M | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $1.1B | $1.2B | ||
| Q1 24 | $827.8M | $1.1B |
净利润DFHTOST
| Q4 25 | $58.8M | $101.0M | ||
| Q3 25 | $47.0M | $105.0M | ||
| Q2 25 | $56.6M | $80.0M | ||
| Q1 25 | $54.9M | $56.0M | ||
| Q4 24 | $130.5M | $32.0M | ||
| Q3 24 | $70.7M | $56.0M | ||
| Q2 24 | $80.9M | $14.0M | ||
| Q1 24 | $54.5M | $-83.0M |
毛利率DFHTOST
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 25.3% | ||
| Q1 25 | — | 25.9% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | 19.2% | 23.0% | ||
| Q1 24 | 18.0% | 23.2% |
营业利润率DFHTOST
| Q4 25 | 6.4% | 5.2% | ||
| Q3 25 | 6.3% | 5.1% | ||
| Q2 25 | 6.4% | 5.2% | ||
| Q1 25 | 7.2% | 3.2% | ||
| Q4 24 | 10.8% | 2.5% | ||
| Q3 24 | 9.2% | 2.6% | ||
| Q2 24 | 10.0% | 0.4% | ||
| Q1 24 | 8.6% | -5.2% |
净利率DFHTOST
| Q4 25 | 4.8% | 6.2% | ||
| Q3 25 | 4.8% | 6.4% | ||
| Q2 25 | 4.9% | 5.2% | ||
| Q1 25 | 5.5% | 4.2% | ||
| Q4 24 | 8.4% | 2.4% | ||
| Q3 24 | 7.0% | 4.3% | ||
| Q2 24 | 7.7% | 1.1% | ||
| Q1 24 | 6.6% | -7.7% |
每股收益（稀释后）DFHTOST
| Q4 25 | $0.57 | $0.18 | ||
| Q3 25 | $0.47 | $0.16 | ||
| Q2 25 | $0.56 | $0.13 | ||
| Q1 25 | $0.54 | $0.09 | ||
| Q4 24 | $1.28 | $0.09 | ||
| Q3 24 | $0.70 | $0.07 | ||
| Q2 24 | $0.81 | $0.02 | ||
| Q1 24 | $0.55 | $-0.15 |
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 | $1.4B |
| 总债务越低越好 | $1.6B | — |
| 股东权益账面价值 | $1.4B | $2.1B |
| 总资产 | $3.7B | $3.1B |
| 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DFHTOST
| Q4 25 | $234.8M | $1.4B | ||
| Q3 25 | $251.0M | $1.4B | ||
| Q2 25 | $210.3M | $1.2B | ||
| Q1 25 | $297.5M | $1.0B | ||
| Q4 24 | $274.4M | $903.0M | ||
| Q3 24 | $204.9M | $761.0M | ||
| Q2 24 | $274.8M | $691.0M | ||
| Q1 24 | $239.4M | $578.0M |
总债务DFHTOST
| 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DFHTOST
| Q4 25 | $1.4B | $2.1B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.7B | ||
| Q4 24 | $1.2B | $1.5B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $968.7M | $1.2B |
总资产DFHTOST
| Q4 25 | $3.7B | $3.1B | ||
| Q3 25 | $3.8B | $3.0B | ||
| Q2 25 | $3.7B | $2.8B | ||
| Q1 25 | $3.5B | $2.6B | ||
| Q4 24 | $3.3B | $2.4B | ||
| Q3 24 | $3.3B | $2.2B | ||
| Q2 24 | $3.0B | $2.2B | ||
| Q1 24 | $2.7B | $2.1B |
负债/权益比DFHTOST
| 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 | $194.0M |
| 自由现金流经营现金流 - 资本支出 | $136.0M | $178.0M |
| 自由现金流率自由现金流/营收 | 11.2% | 10.9% |
| 资本支出强度资本支出/营收 | 0.6% | 1.0% |
| 现金转化率经营现金流/净利润 | 2.44× | 1.92× |
| 过去12个月自由现金流最近4个季度 | $-126.4M | $608.0M |
8季度趋势，按日历期对齐
经营现金流DFHTOST
| Q4 25 | $143.6M | $194.0M | ||
| Q3 25 | $-131.0M | $165.0M | ||
| Q2 25 | $-68.5M | $223.0M | ||
| Q1 25 | $-44.7M | $79.0M | ||
| Q4 24 | $306.5M | $147.0M | ||
| Q3 24 | $-205.0M | $109.0M | ||
| Q2 24 | $-110.6M | $124.0M | ||
| Q1 24 | $-247.5M | $-20.0M |
自由现金流DFHTOST
| Q4 25 | $136.0M | $178.0M | ||
| Q3 25 | $-135.7M | $153.0M | ||
| Q2 25 | $-78.8M | $208.0M | ||
| Q1 25 | $-47.9M | $69.0M | ||
| Q4 24 | $302.6M | $134.0M | ||
| Q3 24 | $-222.5M | $97.0M | ||
| Q2 24 | $-112.4M | $108.0M | ||
| Q1 24 | $-249.6M | $-33.0M |
自由现金流率DFHTOST
| Q4 25 | 11.2% | 10.9% | ||
| Q3 25 | -14.0% | 9.4% | ||
| Q2 25 | -6.8% | 13.4% | ||
| Q1 25 | -4.8% | 5.2% | ||
| Q4 24 | 19.4% | 10.0% | ||
| Q3 24 | -22.1% | 7.4% | ||
| Q2 24 | -10.6% | 8.7% | ||
| Q1 24 | -30.2% | -3.1% |
资本支出强度DFHTOST
| Q4 25 | 0.6% | 1.0% | ||
| Q3 25 | 0.5% | 0.7% | ||
| Q2 25 | 0.9% | 1.0% | ||
| Q1 25 | 0.3% | 0.7% | ||
| Q4 24 | 0.3% | 1.0% | ||
| Q3 24 | 1.7% | 0.9% | ||
| Q2 24 | 0.2% | 1.3% | ||
| Q1 24 | 0.3% | 1.2% |
现金转化率DFHTOST
| Q4 25 | 2.44× | 1.92× | ||
| Q3 25 | -2.79× | 1.57× | ||
| Q2 25 | -1.21× | 2.79× | ||
| Q1 25 | -0.81× | 1.41× | ||
| Q4 24 | 2.35× | 4.59× | ||
| Q3 24 | -2.90× | 1.95× | ||
| Q2 24 | -1.37× | 8.86× | ||
| 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% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
