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Dec 31, 2025
Dream Finders Homes Q4 2025 Earnings Report
Dream Finders Homes reported lower revenue and earnings in Q4 2025 while increasing net sales and improving cancellation rates.
Key Takeaways
Dream Finders Homes generated $1212668000 in revenue in Q4 2025, with net income of $58717000 as margins compressed due to higher incentives and lower average selling prices, while net sales rose 9% year over year.
Revenue declined year over year to $1212668000.
Net income attributable to DFH was $58717000 with basic EPS of $0.60 and diluted EPS of $0.58.
Net sales increased 9% to 1756 orders.
Homebuilding gross margin declined to 16.7% amid higher incentives.
Forward Guidance
The company guided to approximately 9250 home closings for full year 2026 while navigating a challenging housing environment.
Positive Outlook
- Expected 9250 home closings in 2026.
- Improved cancellation rate year over year.
- Record annual closings achieved in 2025.
- Strong liquidity position of $899000000.
- Controlled lot pipeline expansion.
Challenges Ahead
- Revenue declined year over year in Q4.
- Gross margins compressed due to incentives.
- Lower average selling prices.
- Net income declined significantly year over year.
- Higher leverage versus prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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