DHI Latest Report

Financial Performance

DHI Group's total operating revenue was US$761.3 million as of December 31, 2024, a 1.46% decrease from US$772.6 million in 2023. This revenue decline reflects the challenges faced by the company in the competitive market and operating environment, which may affect its overall financial health.

Key Financial Data

1. Total operating revenue of US$761.3 million in 2024, a 1.46% decrease from US$772.6 million in 2023, indicating a weakening revenue generation capacity.

2. Consolidated revenue of US$10 billion, a 5% year-on-year decline, mainly due to the sluggish sales of single-family rental businesses.

3. Earnings per share of US$3.92, lower than the expected US$4.17 and US$4.45 in the previous year, showing a decline in profitability.

4. It is expected to deliver 90,000 to 92,000 residential units in the fiscal year 2025, lower than market expectations.

5. New home sales were down 0.3% year-on-year, reflecting the suppressed demand from buyers in the high-interest rate cycle.

Peer Comparison

1. Industry-wide analysis: In 2024, the real estate industry faced challenges such as weakened market demand and rising financing costs, with total apartment sales area of about 900 million square meters, indicating market contraction. It is expected to gradually recover in the second half of the year under policy relaxation.

2. Peer evaluation analysis: DHI Group's total operating revenue declined significantly, and its earnings per share fell short of expectations, showing its disadvantage in competition with peers. For example, other companies still maintained revenue growth in some quarters, indicating internal differentiation in the industry.

Summary

DHI Group's total operating revenue decline reflects the multiple pressures faced by the company in the competitive market and macroeconomic environment. High interest rates and insufficient market demand are the main reasons, affecting its overall financial performance. The comparison with other companies in the industry shows that DHI Group needs to strengthen its market strategy and operational efficiency.

Opportunities

1. With the support of national policies, it is expected that the real estate market will gradually recover in the second half of the year, providing potential sales opportunities for DHI Group.

2. Policy relaxation may reduce the burden on buyers and boost market demand, thereby improving the company's sales performance.

3. In the long run, the normalization of mortgage rates may restore the company's sales gross margin and enhance profitability.

Risks

1. Persistently high interest rates may continue to suppress buyer demand, affecting the company's revenue.

2. Intensified competition may lead to further revenue decline if it fails to effectively enhance its market share.

3. Macroeconomic uncertainties, particularly economic slowdown, may affect the overall market performance and put pressure on the company's operations.