Does DREAM HOMES & DEVELOPMENT CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores DREAM HOMES & DEVELOPMENT CORPORATION (DREM) 39.1 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 72, pricing power 19, returns on capital 27, balance-sheet safety 54, capital allocation 24.

Is DREM trading below the conservative owner-earnings estimate?

The value if growth stopped today — a zero-growth baseline — is $0.04 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $0.02, that is 55% below value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.

How has DREM's Moat Score changed over time?

The record logs 1 reading since Sep 4, 2026; the latest reads 39.1 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

DREAM HOMES & DEVELOPMENT CORPORATION

DREM · Industrials · $777032 mkt cap · FY2025 filings · as of Sep 4, 2026 · No moat ·

Doesn't clear the bar

No moat

The five investor questions

2022–2025 (latest 4 aligned FYs; v3 window cap 5): revenue $6.3M to $10.1M, increasing; diluted EPS 0.00 to 0.02, increasing.

Median gross margin 27.4% over 10y, variable.

Median ROIC 8.1%, above the 12% hurdle in 38% of years.

Net debt/EBITDA n/ax, interest coverage 12x.

Owner earnings changed trend unclear over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today

55% below value if growth stopped today

: $154090
: $0.04
: $0.04
: $0.02
: 55% below value if growth stopped today

A discount this large is often a warning rather than a bargain — the market may expect earnings to keep falling. See the revenue trend above.

How to read this

What today’s price assumes: owner earnings shrinking ~15%/yr over 5 years. The estimate assumes owner earnings stay flat (0% growth).

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 238% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Sep 4, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, CPRT, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, INTU, DECK, MORN, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

17 years of fundamentals

The business, in plain English

DREAM HOMES & DEVELOPMENT CORPORATION booked $10.1M of revenue in FY2025 in the Industrials sector and kept 20.9% of it as gross profit — a moderate-margin business by that measure. After every other cost, 4.2% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $132 (FY2012) to $10.1M (FY2025) — about 137.5% a year compounded over 13 years.

It earned 71.3% on invested capital in the latest filed year, FY2025. Across the full 13-year measurable filed record, median ROIC was −12.8%. Over the v3 recent window (8 measurable filed years), median ROIC was 8.1%. The Returns on Capital filter above scores it 27/100.

DREM's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.

Put together: Business Trend is the strongest of the five filters (72/100) and Pricing Power the weakest (19/100), which is how DREM lands at 39/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

Sales, as filed$10.1M FY2025

Revenue kept after cost of goods20.9% FY2025

Standard ROIC or separately labeled Operating ROIC

Exact FY and FY-1 financing invested-capital inputs are required.

Cash an owner could take out$418271 FY2025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How DREAM HOMES & DEVELOPMENT CORPORATION makes its money

Start with a dollar of revenue and follow what the filing says remains.

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed line	Value	% of revenue	Source
	$10.1M	100%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Cost of revenue	$8M	79%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$2.1M	21%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$1.1M	11%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Income before tax	$836841	8%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Income tax	$87844	1%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$418271	4%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Embed this chart

Flagship explainer

What DREAM HOMES & DEVELOPMENT CORPORATION owns — and owes

DREAM HOMES & DEVELOPMENT CORPORATION's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$7.2M	100%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Stockholders’ equity	$1.4M	19%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Flagship explainer

What drives DREAM HOMES & DEVELOPMENT CORPORATION’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	$418271	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Income before tax	$836841	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Operating income	$1.1M	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$10.1M	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Ending assets	$7.2M	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Beginning assets	$11.5M	FY2024	10-K · FY 2024Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$1.4M	FY2025	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
	$2.4M	FY2024	10-K · FY 2024Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

Source:

10-K · filed Apr 17, 2026Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

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Flagship explainer

Where DREAM HOMES & DEVELOPMENT CORPORATION's cash went

DREAM HOMES & DEVELOPMENT CORPORATION’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed line	Value	% of cash from operations	Source
Cash from operations	$3.9M	100%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026
Depreciation and amortization	$23582	1%	10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

Source:

10-K · FY 2025Filing detailsAccession 0001493152-26-017910 · filed Apr 17, 2026

· event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding DREAM HOMES & DEVELOPMENT CORPORATION

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Sep 4, 2026

Flagship explainer

What DREAM HOMES & DEVELOPMENT CORPORATION insiders reported

We could not retrieve insider activity for this rendering; no zero-activity claim is shown.

Unavailable: Form 4 activity could not be retrieved for this rendering.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale39.1 / 100

Score history begins Sep 4, 2026 — the record builds forward from here.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

None yet — DREM has read No moat for every logged capture since Sep 4, 2026.

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for DREM.

Industrials context

#259 of 447 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#257CHRN CHRONOSCALE HOLDINGS CORPORATION39.2 out of 100, No moatNo moat
#258VECO VEECO INSTRUMENTS INC39.1 out of 100, No moatNo moat
#260RGR STURM, RUGER & COMPANY, INC.38.8 out of 100, No moatNo moat
#261QNME Quanome Technologies, Inc.38.8 out of 100, No moatNo moat

Compare DREM with its nearest peers →All Industrials companies on the Index →

Common questions about DREM

Does DREAM HOMES & DEVELOPMENT CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores DREAM HOMES & DEVELOPMENT CORPORATION (DREM) 39.1 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 72, pricing power 19, returns on capital 27, balance-sheet safety 54, capital allocation 24.
Is DREM trading below the conservative owner-earnings estimate?: The value if growth stopped today — a zero-growth baseline — is $0.04 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $0.02, that is 55% below value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has DREM's Moat Score changed over time?: The record logs 1 reading since Sep 4, 2026; the latest reads 39.1 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell DREM. See the disclaimer.