On this Dialogue episode of The Synopsis, we give an update on Dream Finders Homes and Floor & Decor. Check out our written business updates for $FND and $DFH below!

Dream Finders Homes 4Q24 Business Update

Floor & Decor 4Q24 Business Update

~Mentioned Memos~

Home Depot Memo: Priced to Outperform Perfection

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Please reach out to [email protected] if you need help getting us to become an approved research vendor in order to expense it.

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Show Notes

Dream Finders Homes 4Q24 Business Update

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(0:00) — Where’s the Letter?

(1:34) — High Level Overview

(5:27) — Acquisition Model Similar to Constellation Software

(9:20) — Rare Case where ROE makes more Sense, Riff on Bank Balance Sheets

(12:57) — Operating Income, Tariffs, Non-homebuilder Acquisitions

(20:04) — Valuation

Floor & Decor 4Q24 Business Update

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(24:00) — Overview, Same Store Sales Controversy

(33:45) — Founder Operators versus Professional Managers, Cabinet Selection Concerns, Store Roll Outs Slowing

(42:00) — Tariffs, Spartan, Operating Leverage

(49:12) — Valuation

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For full access to all of our updates and in-depth research reports, become a Speedwell Member here.

Please reach out to [email protected] if you need help getting us to become an approved research vendor in order to expense it.

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Email us at [email protected] for any questions, comments, or feedback.

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Disclaimer

Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discussed. Furthermore, accounts contributors advise on may also have positions in companies discussed. At the time of publication, one or more contributors to this report has a position in FND and DFH. Furthermore, accounts one or more contributors advise on may also have a position in FND and DFH. This may change without notice. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/