Dream Finders Homes, Inc. (DFH) intrinsic value & 10-year financials
Dream Finders Homes, Inc. (DFH) has a Graham intrinsic value of $67.13 per share. At $8.79 on Oct 17, 2026, the stock trades 87% below that value. Over the last 8 fiscal years revenue grew 34.1% a year to $4.3B, with an average return on invested capital of 55.5%.
- Graham intrinsic value
- $67.13
- Share price (Oct 17, 2026)
- $8.79
- Price vs Graham value
- 87% below
- Market cap
- $890.4M
- Revenue (FY2025)
- $4.3B
- Revenue growth (8-yr CAGR)
- 34.1%
- ROIC (10-yr avg)
- 55.5%
- Free cash flow (FY2025)
- -$126.4M
DFH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.3B | $217.2M | $2.14 | -$126.4M | — | 8.6% |
| FY2024 | $4.5B | $335.3M | $3.34 | -$282.0M | — | 14.9% |
| FY2023 | $3.7B | $295.9M | $2.79 | $369.5M | — | 37.7% |
| FY2022 | $3.3B | $262.3M | $2.45 | -$33.2M | — | 148.0% |
| FY2021 | $1.9B | $121.1M | $1.27 | $62.3M | — | 68.3% |
| FY2020 | $1.1B | $79.1M | $0.00 | $94.0M | — | — |
| FY2019 | $744.3M | $39.2M | $0.00 | $27.5M | — | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Dream Finders Homes, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Dream Finders Homes, Inc. has earned high returns on invested capital, averaging 60.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Dream Finders Homes, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Dream Finders Homes, Inc. is modeled at 13.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $67.13 per share.