1.Sales and profit
See section β- Dream Finders Homes had $4.3B of revenue in fiscal 2025, down 2.9% on the year before. Over five years, revenue changed +30.7% a year on average.
- Dream Finders Homes made $217M of net profit in fiscal 2025.
Dream Finders Homes
DFH NYSE Homebuilding Financials FY2019βFY2025
Dream Finders Homes had $4.3B of revenue in fiscal 2025, down 2.9% on the year before. Over five years, revenue changed +30.7% a year on average.
Download report
3-page PDF: the company, its results and charts with peers.
KIRAβs summary AI analyst
Hi! I read Dream Finders Homesβs latest annual report (fiscal 2025). Here is what stands out:
2 strengths 2 to watch
2.Cash and shareholders
See section β- Free cash flow was β$126M in fiscal 2025, β2.9% of revenue.
- Dream Finders Homes returned $41.7M to shareholders in fiscal 2025. The diluted share count rose 1.0%.
- In the last 12 months, insiders bought $1.4M and sold $3.3M of shares on the open market.
3.Financial health
See section β- Dream Finders Homes owes $1.4B more than it holds in cash, about 2.4 years of operating profit.
- Its return on capital was 17.2%: every 100 invested in the business earned about 17 in a year.
4.Price and value
See section β- At $10.25 a share, the company is worth $936M: 7.2 times its earnings of the last four quarters.
- Dream Finders Homes grew sales faster than 2 of its 4 similar companies. Its P/E is higher than 0 of 4.
Dream Finders Homes in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β2.9%
No. Sales fell 2.9% last year.
So-so
Does it make a profit?
5.0%
A little. It keeps 5.0% of every sale as profit.
Weak
Does profit turn into cash?
β2.9%
No. It spent more cash than it brought in.
So-so
Is debt under control?
2.4x
Keep an eye on it. Repaying its debt would take 2.4 years of operating profit.
For information
How is the share priced?
7.2x
One share costs 7.2 times its yearly profit per share. Typical for its sector: 17.9x.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$936M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
7.2x
On $1.43 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Dream Finders Homes did it, and the next one. Share prices often move a lot on those days.
Next results
October 29, 2026
Thursday Β· in 4 days
- Time
- Time not announced
- Covers
- Period ended Sep 30, 2026
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 30, 2026 | Q2 '26 | Before the market opens | 8-K β |
| Apr 30, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Feb 23, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Oct 30, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Jul 31, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 6, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Feb 25, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Oct 31, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· Dream Finders Homes had $4.3B of revenue in fiscal 2025, down 2.9% on the year before. Over five years, revenue changed +30.7% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY19
Revenue $744M
FY20
Revenue $1.1B
FY21
Revenue $1.9B
FY22
Revenue $3.3B
FY23
Revenue $3.7B
FY24
Revenue $4.4B
FY25
Revenue $4.3B
Revenue
Q3 '23
Revenue $896M
Q4 '23
Revenue $1.1B
Q1 '24
Revenue $828M
Q2 '24
Revenue $1.1B
Q3 '24
Revenue $1.0B
Q4 '24
Revenue $1.6B
Q1 '25
Revenue $990M
Q2 '25
Revenue $1.2B
Q3 '25
Revenue $970M
Q4 '25
Revenue $1.2B
Q1 '26
Revenue $888M
Q2 '26
Revenue $1.1B
Margins, % of revenue
FY19
Gross 13.8%
Operating β
Net 5.3%
FCF 3.7%
FY20
Gross 15.1%
Operating β
Net 7.0%
FCF 8.3%
FY21
Gross 16.3%
Operating β
Net 6.3%
FCF 3.2%
FY22
Gross 18.6%
Operating β
Net 7.9%
FCF β1.0%
FY23
Gross 19.7%
Operating β
Net 7.9%
FCF 9.9%
FY24
Gross β
Operating β
Net 7.5%
FCF β6.3%
FY25
Gross β
Operating β
Net 5.0%
FCF β2.9%
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross 20.8%
Operating β
Net 8.5%
FCF 9.6%
Q4 '23
Gross 20.7%
Operating β
Net 9.0%
FCF 19.2%
Q1 '24
Gross 18.0%
Operating β
Net 6.6%
FCF β30.2%
Q2 '24
Gross 19.2%
Operating β
Net 7.7%
FCF β10.7%
Q3 '24
Gross β
Operating β
Net 7.0%
FCF β22.1%
Q4 '24
Gross β
Operating β
Net 8.3%
FCF 19.4%
Q1 '25
Gross β
Operating β
Net 5.6%
FCF β4.8%
Q2 '25
Gross β
Operating β
Net 4.9%
FCF β6.9%
Q3 '25
Gross β
Operating β
Net 4.9%
FCF β14.0%
Q4 '25
Gross β
Operating β
Net 4.8%
FCF 11.2%
Q1 '26
Gross β
Operating β
Net 1.5%
FCF β6.2%
Q2 '26
Gross β
Operating β
Net 2.6%
FCF β10.1%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Dream Finders Homes made $217M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY19
Net income $39.2M
FY20
Net income $79.1M
FY21
Net income $121M
FY22
Net income $262M
FY23
Net income $296M
FY24
Net income $335M
FY25
Net income $217M
Net income
Q3 '23
Net income $76.1M
Q4 '23
Net income $102M
Q1 '24
Net income $54.5M
Q2 '24
Net income $80.9M
Q3 '24
Net income $70.7M
Q4 '24
Net income $129M
Q1 '25
Net income $54.9M
Q2 '25
Net income $56.6M
Q3 '25
Net income $47.0M
Q4 '25
Net income $58.7M
Q1 '26
Net income $13.3M
Q2 '26
Net income $27.7M
Diluted EPS
FY19
Diluted EPS $0.00
FY20
Diluted EPS $0.00
FY21
Diluted EPS $1.27
FY22
Diluted EPS $2.45
FY23
Diluted EPS $2.79
FY24
Diluted EPS $3.34
FY25
Diluted EPS $2.14
Diluted EPS
Q3 '23
Diluted EPS $0.75
Q4 '23
Diluted EPS $0.96
Q1 '24
Diluted EPS $0.55
Q2 '24
Diluted EPS $0.81
Q3 '24
Diluted EPS $0.70
Q4 '24
Diluted EPS $1.28
Q1 '25
Diluted EPS $0.54
Q2 '25
Diluted EPS $0.56
Q3 '25
Diluted EPS $0.47
Q4 '25
Diluted EPS $0.58
Q1 '26
Diluted EPS $0.11
Q2 '26
Diluted EPS $0.27
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$126M in fiscal 2025, β2.9% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY19
Free cash flow $27.5M
FY20
Free cash flow $94.0M
FY21
Free cash flow $62.2M
FY22
Free cash flow β$33.2M
FY23
Free cash flow $369M
FY24
Free cash flow β$282M
FY25
Free cash flow β$126M
Free cash flow
Q3 '23
Free cash flow $86.1M
Q4 '23
Free cash flow $219M
Q1 '24
Free cash flow β$250M
Q2 '24
Free cash flow β$112M
Q3 '24
Free cash flow β$223M
Q4 '24
Free cash flow $303M
Q1 '25
Free cash flow β$47.9M
Q2 '25
Free cash flow β$78.8M
Q3 '25
Free cash flow β$136M
Q4 '25
Free cash flow $136M
Q1 '26
Free cash flow β$54.8M
Q2 '26
Free cash flow β$107M
Cash from operations vs capital spending
FY19
Cash from operations $30.4M
Capital spending $2.9M
FY20
Cash from operations $96.9M
Capital spending $2.9M
FY21
Cash from operations $65.0M
Capital spending $2.8M
FY22
Cash from operations β$27.6M
Capital spending $5.5M
FY23
Cash from operations $374M
Capital spending $4.8M
FY24
Cash from operations β$257M
Capital spending $25.3M
FY25
Cash from operations β$101M
Capital spending $25.8M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $87.0M
Capital spending $0.9M
Q4 '23
Cash from operations $220M
Capital spending $0.9M
Q1 '24
Cash from operations β$248M
Capital spending $2.1M
Q2 '24
Cash from operations β$111M
Capital spending $1.8M
Q3 '24
Cash from operations β$205M
Capital spending $17.6M
Q4 '24
Cash from operations $307M
Capital spending $3.9M
Q1 '25
Cash from operations β$44.7M
Capital spending $3.2M
Q2 '25
Cash from operations β$68.5M
Capital spending $10.3M
Q3 '25
Cash from operations β$131M
Capital spending $4.7M
Q4 '25
Cash from operations $144M
Capital spending $7.6M
Q1 '26
Cash from operations β$49.5M
Capital spending $5.3M
Q2 '26
Cash from operations β$102M
Capital spending $5.7M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Dream Finders Homes returned $41.7M to shareholders in fiscal 2025. The diluted share count rose 1.0%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY19
Dividends $0.0M
Buybacks $0.0M
FY20
Dividends $0.0M
Buybacks $0.0M
FY21
Dividends $0.0M
Buybacks $0.0M
FY22
Dividends $0.0M
Buybacks $0.0M
FY23
Dividends $0.0M
Buybacks $0.0M
FY24
Dividends $0.0M
Buybacks $7.8M
FY25
Dividends $0.0M
Buybacks $41.7M
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $0.0M
Buybacks $0.0M
Q4 '23
Dividends $0.0M
Buybacks $0.0M
Q1 '24
Dividends $0.0M
Buybacks $0.0M
Q2 '24
Dividends $0.0M
Buybacks $1.8M
Q3 '24
Dividends $0.0M
Buybacks $4.8M
Q4 '24
Dividends $0.0M
Buybacks $1.2M
Q1 '25
Dividends $0.0M
Buybacks $7.0M
Q2 '25
Dividends $0.0M
Buybacks $16.1M
Q3 '25
Dividends $0.0M
Buybacks $9.7M
Q4 '25
Dividends $0.0M
Buybacks $9.0M
Q1 '26
Dividends $0.0M
Buybacks $18.5M
Q2 '26
Dividends $0.0M
Buybacks $14.8M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY19
Diluted shares 0.00B
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.10B
FY22
Diluted shares 0.11B
FY23
Diluted shares 0.11B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.10B
Insider trades
KIRA Β· In the last 12 months, insiders bought $1.4M and sold $3.3M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$1.4M
2 insiders
Sold, 12 months
$3.3M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | Richard BeckwittDirector | Bought | 10,000 | $12.07 | $0.1M | Form 4 |
| Sep 3, 2026 | Len SturmDirector | Bought | 1,500 | $13.47 | $0.0M | Form 4 |
| Aug 26, 2026 | Len SturmDirector | Bought | 1,000 | $14.72 | $0.0M | Form 4 |
| Aug 24, 2026 | Len SturmDirector | Bought | 250 | $14.75 | $0.0M | Form 4 |
| Aug 21, 2026 | Len SturmDirector | Bought | 250 | $14.81 | $0.0M | Form 4 |
| Aug 13, 2026 | Richard BeckwittDirector | Bought | 12,000 | $14.80 | $0.2M | Form 4 |
| Aug 12, 2026 | Richard BeckwittDirector | Bought | 8,000 | $13.83 | $0.1M | Form 4 |
| Aug 11, 2026 | Richard BeckwittDirector | Bought | 70,000 | $13.95 | $1.0M | Form 4 |
| Jun 24, 2026 | William Radford Lovett II10% owner | Sold | 56,590 | $16.67 | $0.9M | Form 4 |
| Jun 22, 2026 | William Radford Lovett II10% owner | Sold | 21,962 | $15.00 | $0.3M | Form 4 |
| Jun 18, 2026 | William Radford Lovett II10% owner | Sold | 85,057 | $15.52 | $1.3M | Form 4 |
| Jun 17, 2026 | William Radford Lovett II10% owner | Sold | 45,544 | $15.21 | $0.7M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Dream Finders Homes owes $1.4B more than it holds in cash, about 2.4 years of operating profit.
Cash, debt and the ratios that show how comfortably Dream Finders Homes can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY19
Cash $50.6M
Debt β
FY20
Cash $43.7M
Debt β
FY21
Cash $227M
Debt β
FY22
Cash $365M
Debt β
FY23
Cash $494M
Debt β
FY24
Cash $274M
Debt $1.3B
FY25
Cash $235M
Debt $1.6B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $227M | $365M | $494M | $274M | $235M |
| Debt incl. finance leases | β | β | β | $1.3B | $1.6B |
| Net debt / EBITDA | β | β | β | 1.6x | 2.4x |
| Debt / equity | β | β | β | 1.0x | 1.1x |
| Interest coverage | 242.1x | 11,130.9x | 6.1x | 3.2x | 2.0x |
| Total assets | $1.9B | $2.4B | $2.6B | $3.3B | $3.7B |
| Total liabilities | $1.3B | $1.6B | $1.5B | $1.9B | $2.1B |
| Shareholders' equity | $401M | $645M | $925M | $1.2B | $1.4B |
| Net debt (β = net cash) | β | β | β | $1.0B | $1.4B |
Returns on capital
KIRA Β· Its return on capital was 17.2%: every 100 invested in the business earned about 17 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY19
Return on capital β
Return on equity β
Return on assets β
FY20
Return on capital β
Return on equity β
Return on assets β
FY21
Return on capital β
Return on equity β
Return on assets 9.2%
FY22
Return on capital β
Return on equity 50.2%
Return on assets 12.3%
FY23
Return on capital β
Return on equity 37.7%
Return on assets 12.0%
FY24
Return on capital β
Return on equity 30.9%
Return on assets 11.4%
FY25
Return on capital 17.2%
Return on equity 16.3%
Return on assets 6.2%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 9 | β / 9 | β / 9 |
| Accruals ratio | β3.2% | 20.1% | 9.0% |
| Altman Z'' | β | β | β |
Price and value
What does the share cost, and how does it compare?
Value Dream Finders Homes yourself
KIRA Β· At $10.25 a share, the company is worth $936M: 7.2 times its earnings of the last four quarters.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Discounted cash flow
Value per share
β
Adds net cash of β$1.4B and divides by 101.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
β
Reference multiples: today 7.2x Β· peers 13.0x Β· sector 17.9x.
Similar companies
KIRA Β· Dream Finders Homes grew sales faster than 2 of its 4 similar companies. Its P/E is higher than 0 of 4.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Dream Finders Homes DFH | $936M | β2.9% | β | β2.9% | 17.2% | 7.2x | β | |
| M/I Homes MHO | $3.2B | β1.9% | 11.5% | 2.9% | β | 11.8x | β | Compare β |
| Century Communities CCS | $1.7B | β6.4% | β | 3.0% | β | 12.7x | β | Compare β |
| KB Home KBH | $2.9B | β10.0% | β | 4.6% | β | 13.3x | β | Compare β |
| Installed Building Products IBP | $5.3B | 1.0% | 13.0% | 10.1% | 22.6% | 21.5x | 7 | Compare β |
All figures
Every number, year by year.
7 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $744M | $1.1B | $1.9B | $3.3B | $3.7B | $4.4B | $4.3B |
| Gross profit | $103M | $171M | $314M | $620M | $737M | β | β |
| Interest expense | $0.2M | $0.9M | $0.7M | $0.0M | $80.1M | $199M | $283M |
| Pretax income | $44.9M | $84.5M | $162M | $356M | $404M | $438M | $284M |
| Income tax | $0.0M | $0.0M | $27.5M | $81.9M | $96.5M | $97.3M | $66.7M |
| Net income | $39.2M | $79.1M | $121M | $262M | $296M | $335M | $217M |
| Diluted EPS | $0.00 | $0.00 | $1.27 | $2.45 | $2.79 | $3.34 | $2.14 |
| Diluted shares | 0.00B | 0.00B | 0.10B | 0.11B | 0.11B | 0.10B | 0.10B |
| Cash flow | |||||||
| Cash from operations | $30.4M | $96.9M | $65.0M | β$27.6M | $374M | β$257M | β$101M |
| Capital expenditure | $2.9M | $2.9M | $2.8M | $5.5M | $4.8M | $25.3M | $25.8M |
| Free cash flow | $27.5M | $94.0M | $62.2M | β$33.2M | $369M | β$282M | β$126M |
| Depreciation and amortization | $3.0M | $4.0M | $6.1M | $11.3M | $10.7M | $10.2M | $15.1M |
| Stock-based compensation | $0.9M | $0.9M | $5.2M | $6.8M | $14.1M | $18.8M | $24.9M |
| Acquisitions | $13.0M | $16.8M | $520M | $0.3M | $0.0M | $178M | $185M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $7.8M | $41.7M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $7.8M | $41.7M |
| Balance sheet | |||||||
| Cash and short-term investments | $50.6M | $43.7M | $227M | $365M | $494M | $274M | $235M |
| Total debt | β | β | β | β | β | $1.3B | $1.6B |
| Finance lease liabilities | $0.0M | $0.3M | $0.1M | $0.0M | $0.0M | $0.0M | $0.0M |
| Inventory | $0.0M | $484M | $1.1B | β | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | β | $4.3M | $6.8M | $7.3M | $7.0M | $39.7M | $54.7M |
| Total assets | β | $734M | $1.9B | $2.4B | $2.6B | $3.3B | $3.7B |
| Total liabilities | β | $522M | $1.3B | $1.6B | $1.5B | $1.9B | $2.1B |
| Shareholders' equity | β | β | $401M | $645M | $925M | $1.2B | $1.4B |
| Margins | |||||||
| Gross margin | 13.8% | 15.1% | 16.3% | 18.6% | 19.7% | β | β |
| EBITDA margin | 6.5% | 7.9% | 8.8% | 11.0% | 13.2% | 14.6% | 13.5% |
| Net margin | 5.3% | 7.0% | 6.3% | 7.9% | 7.9% | 7.5% | 5.0% |
| FCF margin | 3.7% | 8.3% | 3.2% | β1.0% | 9.9% | β6.3% | β2.9% |
| Returns | |||||||
| Return on capital | β | β | β | β | β | β | 17.2% |
| Return on equity | β | β | β | 50.2% | 37.7% | 30.9% | 16.3% |
| Return on assets | β | β | 9.2% | 12.3% | 12.0% | 11.4% | 6.2% |
| Growth | |||||||
| Revenue growth | β | 52.3% | 69.7% | 73.7% | 12.2% | 18.7% | β2.9% |
| Net income growth | β | 101.8% | 53.2% | 116.6% | 12.8% | 13.3% | β35.2% |
| EPS growth | β | β | β | 92.9% | 13.9% | 19.7% | β35.9% |
| FCF growth | β | 241.3% | β33.8% | β153.3% | β | β176.3% | β |
| Share count change | β | β | β | 11.9% | β0.6% | β5.4% | 1.0% |
| Financial health | |||||||
| Net debt / EBITDA | β | β | β | β | β | 1.6x | 2.4x |
| Debt / equity | β | β | β | β | β | 1.0x | 1.1x |
| Interest coverage | 203.8x | 98.0x | 242.1x | 11,130.9x | 6.1x | 3.2x | 2.0x |
| Capital allocation | |||||||
| Capex / revenue | 0.4% | 0.3% | 0.1% | 0.2% | 0.1% | 0.6% | 0.6% |
| Stock comp / revenue | 0.1% | 0.1% | 0.3% | 0.2% | 0.4% | 0.4% | 0.6% |
| Payouts / FCF | 0.0% | 0.0% | 0.0% | β | 0.0% | β | β |
| Quality scores | |||||||
| Accruals ratio | β | β | 4.3% | 13.6% | β3.2% | 20.1% | 9.0% |
Source: SEC EDGAR XBRL filings (CIK 0001825088). Data updated October 19, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.