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Dream Finders Homes (DFH)

Market Price (5/2/2026): $15.26 | Market Cap: $1.4 Bil
Sector: Consumer Discretionary | Industry: Homebuilding

Dream Finders Homes (DFH)

Market Price (5/2/2026): $15.26
Market Cap: $1.4 Bil
Sector: Consumer Discretionary
Industry: Homebuilding

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Energy Efficient Building Materials, Show more.

Weak multi-year price returns
2Y Excs Rtn is -100%, 3Y Excs Rtn is -74%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -22%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9%

Key risks
DFH key risks include [1] a significant debt burden that could lead to shareholder dilution and [2] geographic concentration in the Sunbelt states, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
2 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Energy Efficient Building Materials, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -100%, 3Y Excs Rtn is -74%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 97%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.9%, Rev Chg QQuarterly Revenue Change % is -22%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.9%
7 Key risks
DFH key risks include [1] a significant debt burden that could lead to shareholder dilution and [2] geographic concentration in the Sunbelt states, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Stock Movement Drivers

Fundamental Drivers

The -17.0% change in DFH stock from 1/31/2026 to 5/1/2026 was primarily driven by a -18.5% change in the company's Net Income Margin (%).
(LTM values as of)13120265012026Change
Stock Price ($)18.3915.26-17.0%
Change Contribution By: 
Total Revenues ($ Mil)4,6704,323-7.4%
Net Income Margin (%)6.2%5.0%-18.5%
P/E Multiple5.96.59.7%
Shares Outstanding (Mil)93930.2%
Cumulative Contribution-17.0%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/1/2026
ReturnCorrelation
DFH-17.0% 
Market (SPY)3.6%38.5%
Sector (XLY)-1.9%45.8%

Fundamental Drivers

The -22.9% change in DFH stock from 10/31/2025 to 5/1/2026 was primarily driven by a -18.5% change in the company's Net Income Margin (%).
(LTM values as of)103120255012026Change
Stock Price ($)19.8015.26-22.9%
Change Contribution By: 
Total Revenues ($ Mil)4,6704,323-7.4%
Net Income Margin (%)6.2%5.0%-18.5%
P/E Multiple6.46.51.8%
Shares Outstanding (Mil)93930.2%
Cumulative Contribution-22.9%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/1/2026
ReturnCorrelation
DFH-22.9% 
Market (SPY)5.5%36.6%
Sector (XLY)-0.7%46.9%

Fundamental Drivers

The -32.7% change in DFH stock from 4/30/2025 to 5/1/2026 was primarily driven by a -33.3% change in the company's Net Income Margin (%).
(LTM values as of)43020255012026Change
Stock Price ($)22.6615.26-32.7%
Change Contribution By: 
Total Revenues ($ Mil)4,4504,323-2.9%
Net Income Margin (%)7.5%5.0%-33.3%
P/E Multiple6.36.52.6%
Shares Outstanding (Mil)94931.3%
Cumulative Contribution-32.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/1/2026
ReturnCorrelation
DFH-32.7% 
Market (SPY)30.4%36.6%
Sector (XLY)21.2%48.2%

Fundamental Drivers

The 0.1% change in DFH stock from 4/30/2023 to 5/1/2026 was primarily driven by a 29.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)43020235012026Change
Stock Price ($)15.2515.260.1%
Change Contribution By: 
Total Revenues ($ Mil)3,3424,32329.3%
Net Income Margin (%)7.8%5.0%-36.0%
P/E Multiple5.46.520.7%
Shares Outstanding (Mil)93930.1%
Cumulative Contribution0.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/1/2026
ReturnCorrelation
DFH0.1% 
Market (SPY)78.7%36.1%
Sector (XLY)64.4%43.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
DFH Return-7%-55%310%-35%-27%-15%-30%
Peers Return53%-22%93%1%-3%2%129%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
DFH Win Rate58%42%75%50%42%50% 
Peers Win Rate75%43%65%57%45%75% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
DFH Max Drawdown-26%-57%0%-36%-27%-22% 
Peers Max Drawdown-4%-43%0%-8%-21%-8% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: LEN, DHI, PHM, TOL, MTH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventDFHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.5%-9.5%
  % Gain to Breakeven37.9%10.5%
  Time to Breakeven45 days24 days
2023 SVB Regional Banking Crisis
  % Loss-16.3%-6.7%
  % Gain to Breakeven19.5%7.1%
  Time to Breakeven36 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-50.2%-24.5%
  % Gain to Breakeven100.9%32.4%
  Time to Breakeven228 days427 days

Compare to LEN, DHI, PHM, TOL, MTH

In The Past

Dream Finders Homes's stock fell -7.2% during the 2025 US Tariff Shock. Such a loss loss requires a 7.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventDFHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-27.5%-9.5%
  % Gain to Breakeven37.9%10.5%
  Time to Breakeven45 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-50.2%-24.5%
  % Gain to Breakeven100.9%32.4%
  Time to Breakeven228 days427 days

Compare to LEN, DHI, PHM, TOL, MTH

In The Past

Dream Finders Homes's stock fell -7.2% during the 2025 US Tariff Shock. Such a loss loss requires a 7.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Dream Finders Homes (DFH)

Dream Finders Homes, Inc. operates as a holding company for Dream Finders Holdings LLC that engages in homebuilding business in the United States. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes in Charlotte, Raleigh, Jacksonville, Orlando, Denver, the Washington D.C. metropolitan area, Austin, Dallas, and Houston. The company also operates as a licensed home mortgage broker that underwrites, originates, and sells mortgages to Prime Lending; and provides insurance agency services, including closing, escrow, and title insurance, as well as mortgage banking solutions. It sells its homes through its sales representatives and independent real estate brokers. The company was founded in 2008 and is headquartered in Jacksonville, Florida.

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  • A regional Lennar or D.R. Horton, building single-family homes in several growing U.S. markets.
  • Like a smaller PulteGroup, specializing in entry-level and move-up single-family homes.

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  • Homebuilding: Designs, constructs, and sells single-family entry-level, first-time, and second-time move-up homes.
  • Mortgage Brokerage: Underwrites, originates, and sells mortgages as a licensed home mortgage broker.
  • Insurance Agency Services: Provides closing, escrow, and title insurance services.

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Dream Finders Homes (DFH) sells primarily to individuals. The company serves the following categories of customers:

  • Entry-level home buyers
  • First-time move-up home buyers
  • Second-time move-up home buyers

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Patrick O. Zalupski - President, Chief Executive Officer, and Chairman

Patrick O. Zalupski founded Dream Finders Homes' operating subsidiary in December 2008 and has served as its CEO since then, becoming Chairman at the IPO in January 2021. Under his leadership, Dream Finders Homes has grown significantly, establishing operations in 23 markets across 10 states and closing over 44,000 homes since inception through September 2025. Prior to founding DFH LLC, Mr. Zalupski was a Financial Auditor for FedEx Corporation's Internal Audit Department and worked in the real estate sales and construction industry as Managing Partner of Bay Street Condominiums, LLC from 2006 to 2008. He has also served on the investment committee of DF Capital Management, LLC, an investment manager focused on land banks and land development joint ventures, since April 2018. In September 2025, Mr. Zalupski became the Majority Owner, Managing Partner, and Co-Chair of the Tampa Bay Rays, as well as the Principal Owner of the Tampa Bay Rowdies professional soccer team.

Anabel Ramsay - Senior Vice President and Chief Financial Officer

Anabel Ramsay joined Dream Finders Homes in 2018 as Vice President and Treasurer and was appointed Interim Chief Financial Officer on October 6, 2021, before being promoted to Senior Vice President and Chief Financial Officer on April 1, 2022. She is responsible for balance sheet management, capital allocation, cash forecasting, and overall supervision of the company's accounting, tax, and treasury functions, including debt, compliance, and reporting for lenders, investors, and shareholders.

J. Douglas Moran - Senior Vice President and Chief Operations Officer

Doug Moran has served as Senior Vice President and Chief Operations Officer of Dream Finders Homes since its formation in September 2020, and as Chief Operations Officer of DFH LLC from January 2017 to December 2024. Since joining Dream Finders Homes in 2014, he has held various leadership roles, including Division President in Northeast Florida, overseeing the management and growth of the business in other markets with responsibilities including sales, marketing, land acquisition and development, home construction, operations, and purchasing.

Christopher Pena - Vice President of Sales and Marketing

Christopher Pena serves as the Vice President of Sales and Marketing for Dream Finders Homes.

Gerry Boeneman - President of Central Florida Division

Gerry Boeneman is a Division President at Dream Finders Homes, specifically leading the Central Florida Division.

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The key risks to Dream Finders Homes' business are:

  1. Sensitivity to Interest Rates and Housing Market Conditions: Dream Finders Homes' profitability is highly susceptible to fluctuations in interest rates, which directly impact mortgage affordability and buyer demand. A downturn in the broader housing market, driven by economic factors such as recessions, changes in consumer confidence, or oversupply, would significantly reduce demand for new homes and negatively affect sales volumes and pricing.

  2. Volatility in Raw Material and Labor Costs: As a homebuilder, Dream Finders Homes is exposed to significant price volatility in key construction materials (e.g., lumber, steel, concrete) and labor costs. Unfavorable movements in these costs, particularly if they cannot be fully offset by increased home prices or efficiencies, can compress profit margins and impact the company's financial performance.

  3. Exposure to Localized Economic Downturns and Regulatory Changes: Dream Finders Homes operates in specific metropolitan areas across multiple states. Economic downturns or adverse conditions localized to any of its key markets, such as job losses, population shifts, or restrictive zoning and environmental regulations, could disproportionately impact its business, reduce housing demand, and increase operational costs within those regions.

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Addressable Markets for Dream Finders Homes' Main Products and Services in the U.S.

Dream Finders Homes, Inc. (DFH) operates within several significant addressable markets in the United States, primarily focusing on homebuilding, mortgage origination, and title insurance services. The company's operations span key markets across the Southeast, Mid-Atlantic, Midwest, and Southwest regions of the U.S..

Homebuilding

The U.S. single-family housing construction market, which includes individual houses, was valued at an estimated $804.08 billion in 2025 and is projected to grow to $845.86 billion in 2026, at a compound annual growth rate (CAGR) of 5.2%. For the entire U.S. residential construction market, an increase of $331.7 million is expected between 2025 and 2030, with a CAGR of 5.7%. In terms of volume, new single-family houses sold in the U.S. reached an estimated 679,000 units in 2025. Single-family housing starts in the U.S. were at an annualized rate of 981,000 in December 2025 and 935,000 in January 2026. Custom single-family housing starts accounted for 186,000 homes in 2025, representing nearly 20% of total single-family starts.

Mortgage Origination Services

The total single-family mortgage origination volume in the U.S. is anticipated to increase to $2.0 trillion in 2025 and further to $2.2 trillion in 2026. Specifically, purchase originations are forecast to reach $1.46 trillion in 2026, while refinance originations are expected to be $737 billion in the same year.

Title Insurance and Related Services

The U.S. title insurance industry recorded over $16.5 billion in business in 2023. The industry's revenue has experienced a CAGR decline of 6.6% over the past five years, reaching $17.1 billion, with an expected increase of 1.8% in 2025. The title insurance market in North America, valued at $2 billion in 2023, is projected to grow to $2.8 billion by 2032. In the second quarter of 2025, the industry generated $4.5 billion in title insurance premiums, an increase from $4.1 billion in the same period a year prior. For the first six months of 2025, title premium volume was up 13.2% compared to the first six months of 2024.

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Dream Finders Homes (DFH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market positions: * Growth in Home Closings and Controlled Lot Pipeline: Dream Finders Homes projects approximately 9,250 home closings for 2026, building on a record 8,608 closings in 2025. This anticipated increase in home deliveries is supported by a growing controlled lot pipeline, which expanded to 63,121 as of December 31, 2025, from 54,698 the previous year, providing the necessary inventory for future construction and sales. * Strategic Acquisitions and Expansion into New High-Growth Markets: The company has a history of expanding its geographical footprint through strategic acquisitions. For instance, the acquisition of Crescent Homes added three new markets (Charleston, Greenville, SC, and Nashville, TN) in 2023, increasing Dream Finders Homes' presence to 20 markets. More recently, the acquisitions of Alliant National Title Insurance Co. and Green River Builders in 2025 opened new revenue sources and expanded its presence in the fast-growing Atlanta area. The company also expanded into the Tampa Bay region in January 2024 and has forged a multi-year partnership with the Tampa Bay Rays and Rowdies to enhance brand recognition and drive business growth in this new market. * Expansion of Financial Services Offerings: The financial services segment is contributing increasingly to revenue. The significant increase in financial services revenues and pre-tax income in 2025 was primarily due to the April 2025 acquisition of Alliant Title and the consolidation of Jet HomeLoans starting July 1, 2024. This expansion of related services provides additional revenue streams beyond homebuilding. * Capitalizing on Favorable Housing Market Conditions and Demand for Affordable Homes: Despite operating in a challenging housing sector in 2025, Dream Finders Homes is well-positioned to benefit from an eventual turnaround in the broader housing market and continued demand for affordable homes. The company's asset-light model and focus on fast-growing Sunbelt markets further support its potential for long-term expansion as market conditions improve and buyer demand returns.

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Share Repurchases

  • Dream Finders Homes expanded its share repurchase program on November 12, 2025, authorizing an additional $50.0 million of Class A common stock, bringing the total authorization to $100.0 million through June 30, 2027.
  • As of November 11, 2025, the company had repurchased 1,696,063 shares for $41.2 million under the existing program.
  • In June 2025, the limit of the share buyback program was increased to $50.0 million from $25.0 million, an authorization initially approved in June 2023.

Share Issuance

  • Dream Finders Homes completed its Initial Public Offering (IPO) in January 2021, raising approximately $125 million to support its expansion.

Outbound Investments

  • In January 2025, Dream Finders Homes acquired Liberty Communities, LLC's core homebuilding operations and assets, including offsite manufacturing and component import businesses, in Atlanta, GA, and Greenville, SC.
  • In February 2024, the company acquired the core homebuilding assets of Crescent Ventures, LLC (Crescent Homes), which included 457 homesites and a backlog of approximately 460 homes valued at over $265 million, expanding its presence in South Carolina and Tennessee.
  • In September 2021, Dream Finders Homes acquired the homebuilding, mortgage banking, and title insurance assets of MHI-McGuyer Homebuilders (Coventry Homes) across multiple Texas markets including Austin, Dallas, Houston, and San Antonio.

Capital Expenditures

  • Dream Finders Homes employs an "asset-light" business model, primarily utilizing lot option contracts to control land rather than outright ownership, thereby minimizing direct capital expenditures on land development.
  • As of December 31, 2025, lot deposits for finished lot option and land bank option contracts amounted to $545 million, an increase from $458 million as of December 31, 2024.
  • Projected capital expenditures are $14 million for 2026, $15 million for 2027, and $16 million for 2028.

Better Bets vs. Dream Finders Homes (DFH)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1DFH Stock (+11%): Sector-Wide Housing Catalyst Ignites Squeeze01/10/2026
2Dream Finders Homes Earnings Notes12/16/2025
3Dream Finders Homes Stock Drop Looks Sharp, But How Deep Can It Go?10/17/2025
4Dream Finders Homes vs Cal-Maine Foods: Which Is A Better Investment?08/18/2025
5Dream Finders Homes vs Green Brick Partners: Which Is A Better Investment?08/18/2025
6How Does Dream Finders Homes Stock Stack Up Against Its Peers?08/13/2025
7Better Bet Than DFH Stock: Pay Less Than Dream Finders Homes To Get More From PR, CALM 08/12/2025
8Why Dream Finders Homes Stock Moved: DFH Stock Has Gained 107% Since 2022 Fiscal End, Primarily Due To Favorable Change In Price To Sales Multiple (P/S)08/08/2025
9DFH Dip Buy Analysis07/10/2025
10Dream Finders Homes (DFH) Valuation Ratios Comparison05/15/2025
11ARTICLES 
12Stocks Trading At 52-Week Low12/31/2025

Trade Ideas

Select ideas related to DFH.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FUN_4302026_Short_Squeeze04302026FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		0.0%0.0%0.0%
MGM_4242026_Insider_Buying_GTE_1Mil_EBITp+DE_V204242026MGMMGM Resorts InternationalInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-1.5%-1.5%-1.5%
WEN_4242026_Short_Squeeze04242026WENWendy'sSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-2.5%-2.5%-5.3%
WHR_4102026_Short_Squeeze04102026WHRWhirlpoolSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-0.8%-0.8%-4.8%
SKY_4022026_Dip_Buyer_FCFYield04022026SKYChampion HomesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		3.1%3.1%-1.2%
DFH_5312024_Dip_Buyer_FCFYield05312024DFHDream Finders HomesDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		17.1%-26.6%-28.2%

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Peer Comparisons

Peers to compare with:

Financials

DFHLENDHIPHMTOLMTHMedian
NameDream Fi.Lennar D.R. Hor.PulteGro.Toll Bro.Meritage. 
Mkt Price15.2688.45149.98119.21139.8466.34103.83
Mkt Cap1.421.643.222.913.44.517.5
Rev LTM4,32333,17533,34816,82811,2535,62014,041
Op Inc LTM2702,2703,9202,7471,7214561,995
FCF LTM-126-903,4981,7781,453238845
FCF 3Y Avg-131,9682,8151,6211,174451,397
CFO LTM-101723,6521,8971,540262901
CFO 3Y Avg62,1292,9611,7321,251741,492

Growth & Margins

DFHLENDHIPHMTOLMTHMedian
NameDream Fi.Lennar D.R. Hor.PulteGro.Toll Bro.Meritage. 
Rev Chg LTM-2.9%-7.2%-5.6%-5.9%4.6%-10.6%-5.8%
Rev Chg 3Y Avg9.3%-0.7%-0.1%1.0%3.2%-3.6%0.5%
Rev Chg Q-22.3%-13.3%-2.3%-12.4%15.4%-17.7%-12.8%
QoQ Delta Rev Chg LTM-7.4%-3.0%-0.5%-2.8%2.6%-4.1%-2.9%
Op Inc Chg LTM-37.7%-51.1%-26.7%-26.8%-11.8%-48.4%-32.2%
Op Inc Chg 3Y Avg-4.7%-27.5%-15.7%-6.9%4.0%-24.5%-11.3%
Op Mgn LTM6.2%6.8%11.8%16.3%15.3%8.1%9.9%
Op Mgn 3Y Avg9.1%11.9%14.6%19.6%17.1%12.5%13.6%
QoQ Delta Op Mgn LTM-1.5%-1.2%-0.5%-0.9%-0.4%-1.1%-1.0%
CFO/Rev LTM-2.3%0.2%11.0%11.3%13.7%4.7%7.8%
CFO/Rev 3Y Avg0.6%6.0%8.5%10.2%11.7%1.3%7.3%
FCF/Rev LTM-2.9%-0.3%10.5%10.6%12.9%4.2%7.4%
FCF/Rev 3Y Avg0.2%5.6%8.1%9.5%10.9%0.9%6.8%

Valuation

DFHLENDHIPHMTOLMTHMedian
NameDream Fi.Lennar D.R. Hor.PulteGro.Toll Bro.Meritage. 
Mkt Cap1.421.643.222.913.44.517.5
P/S0.30.71.31.41.20.81.0
P/Op Inc5.29.511.08.37.89.88.9
P/EBIT5.29.511.08.57.89.08.8
P/E6.512.113.611.29.711.611.4
P/CFO-14.1298.811.812.18.717.011.9
Total Yield15.4%10.6%8.5%9.7%10.7%11.4%10.7%
Dividend Yield0.0%2.4%1.2%0.8%0.4%2.7%1.0%
FCF Yield 3Y Avg-3.2%4.7%6.6%7.1%9.7%0.9%5.6%
D/E1.10.20.20.10.20.40.2
Net D/E1.00.10.1-0.00.10.30.1

Returns

DFHLENDHIPHMTOLMTHMedian
NameDream Fi.Lennar D.R. Hor.PulteGro.Toll Bro.Meritage. 
1M Rtn8.7%4.1%8.5%1.8%2.4%6.8%5.4%
3M Rtn-17.0%-18.3%1.1%-4.5%-3.0%-3.8%-4.2%
6M Rtn-22.9%-27.8%1.2%-0.1%4.0%-0.5%-0.3%
12M Rtn-30.9%-16.7%20.9%17.9%39.3%1.7%9.8%
3Y Rtn-3.5%-18.1%41.9%85.5%127.9%10.9%26.4%
1M Excs Rtn-1.3%-5.9%-1.5%-8.2%-7.6%-3.1%-4.5%
3M Excs Rtn-21.2%-22.5%-3.1%-8.7%-7.2%-8.0%-8.4%
6M Excs Rtn-34.3%-33.0%-3.2%-3.7%-0.6%-4.7%-4.2%
12M Excs Rtn-62.5%-46.9%-9.7%-12.7%9.9%-29.9%-21.3%
3Y Excs Rtn-73.7%-93.4%-32.6%10.5%55.5%-63.2%-47.9%

Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Midwest1,025915   
Southeast794781   
Mid-Atlantic731405   
Corporate392408   
Financial Services386207   
Reconciling Items -154-89-71-35
Colorado  18811652
Jacksonville  300208163
Jet Home Loans  967739
Orlando  27713277
Other  494380236
Texas  793743 
The Carolinas  311247161
Washington DC (DC Metro)   6241
Total3,3292,5622,3711,894734


Price Behavior

Price Behavior
Market Price$15.26 
Market Cap ($ Bil)1.4 
First Trading Date01/21/2021 
Distance from 52W High-50.8% 
   50 Days200 Days
DMA Price$15.37$20.86
DMA Trenddowndown
Distance from DMA-0.7%-26.8%
 3M1YR
Volatility53.2%52.2%
Downside Capture0.601.01
Upside Capture2.1488.73
Correlation (SPY)36.9%36.1%
DFH Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta1.811.731.291.431.521.34
Up Beta2.502.652.331.771.751.31
Down Beta3.232.782.671.731.540.93
Up Capture66%32%2%59%83%299%
Bmk +ve Days15223166141428
Stock +ve Days12192649105365
Down Capture-29%177%105%152%154%111%
Bmk -ve Days4183056108321
Stock -ve Days10243876144380

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with DFH
DFH-30.6%52.2%-0.53-
Sector ETF (XLY)21.3%18.8%0.9048.0%
Equity (SPY)30.6%12.5%1.8836.4%
Gold (GLD)39.5%27.2%1.203.9%
Commodities (DBC)51.5%17.9%2.20-21.9%
Real Estate (VNQ)13.1%13.5%0.6752.9%
Bitcoin (BTCUSD)-18.2%42.1%-0.3618.7%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with DFH
DFH-8.6%55.5%0.05-
Sector ETF (XLY)6.7%23.8%0.2442.5%
Equity (SPY)12.8%17.1%0.5938.1%
Gold (GLD)20.5%17.9%0.947.3%
Commodities (DBC)14.3%19.1%0.611.9%
Real Estate (VNQ)3.5%18.8%0.0941.0%
Bitcoin (BTCUSD)7.4%56.1%0.3516.2%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with DFH
DFH-2.8%56.5%0.12-
Sector ETF (XLY)12.7%22.0%0.5341.5%
Equity (SPY)14.9%17.9%0.7136.6%
Gold (GLD)13.6%15.9%0.717.9%
Commodities (DBC)9.7%17.7%0.463.0%
Real Estate (VNQ)5.7%20.7%0.2440.2%
Bitcoin (BTCUSD)67.4%66.9%1.0715.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity5.0 Mil
Short Interest: % Change Since 3312026-3.9%
Average Daily Volume0.6 Mil
Days-to-Cover Short Interest8.8 days
Basic Shares Quantity92.6 Mil
Short % of Basic Shares5.4%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/23/2026-2.2%-11.8%-30.7%
10/30/2025-7.5%-10.6%-10.6%
7/31/2025-4.1%-3.0%5.8%
5/6/2025-3.6%4.5%-2.6%
2/25/202517.9%8.8%15.1%
10/31/2024-4.2%1.5%6.8%
8/1/2024-3.6%-16.5%5.5%
2/29/202413.3%12.0%26.6%
...
SUMMARY STATS   
# Positive789
# Negative1098
Median Positive4.3%10.4%13.6%
Median Negative-3.6%-10.6%-10.3%
Max Positive17.9%24.8%26.6%
Max Negative-7.5%-16.5%-30.7%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/24/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/06/202510-Q
12/31/202402/25/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/29/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/02/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/10/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 4/30/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Home Closings 9,250 0 AffirmedGuidance: 9,250 for 2026

Prior: Q4 2025 Earnings Reported 2/23/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Home Closings 9,250 8.8% Higher NewActual: 8,500 for 2025

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Lovett, William Radford II See FootnoteSell123202619.6030,217592,25374,301,307Form
2Lovett, William Radford II See FootnoteSell123202619.4441,525807,24674,282,184Form
3Lovett, William Radford II See FootnoteSell1028202523.2525,000581,25089,806,031Form
4Lovett, William Radford II See FootnoteSell1028202523.5525,000588,75091,553,569Form
5Lovett, William Radford II See FootnoteSell1022202523.178,258191,33890,655,521Form

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