vs
Andersons, Inc.（ANDE）与Forestar Group Inc.（FOR）财务数据对比。点击上方公司名可切换其他公司
Andersons, Inc.的季度营收约是Forestar Group Inc.的1.2倍（$329.5M vs $273.0M），Andersons, Inc.净利率更高（20.5% vs 5.6%，领先14.8%），Forestar Group Inc.同比增速更快（9.0% vs -2.4%），Andersons, Inc.自由现金流更多（$-77.1M vs $-157.1M），过去两年Andersons, Inc.的营收复合增速更高（-1.8% vs -9.6%）
安德森公司（The Andersons, Inc.）是1947年成立的美国农业企业，总部位于俄亥俄州莫米。公司起源于1940年代服务粮食行业的安德森货运站，是深耕农业领域的多元化企业，业务覆盖大宗商品贸易、可再生能源以及植物营养板块。
福雷斯特集团是一家住宅地块开发企业，总部位于得克萨斯州阿灵顿，业务覆盖美国21个州的51个市场。截至2020年12月31日的12个月内，该公司交付了11518块住宅地块，目前在纽约证券交易所上市，自2002年起就是美国规模最大的住宅建筑商D.R. Horton的控股子公司。
ANDE vs FOR — 直观对比
营收规模更大
ANDE
是对方的1.2倍
$273.0M
营收增速更快
FOR
高出11.4%
-2.4%
净利率更高
ANDE
高出14.8%
5.6%
自由现金流更多
ANDE
多$80.0M
$-157.1M
两年增速更快
ANDE
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $329.5M | $273.0M |
| 净利润 | $67.4M | $15.4M |
| 毛利率 | 70.3% | 20.1% |
| 营业利润率 | 26.6% | 7.6% |
| 净利率 | 20.5% | 5.6% |
| 营收同比 | -2.4% | 9.0% |
| 净利润同比 | 49.6% | -6.7% |
| 每股收益（稀释后） | — | $0.30 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ANDEFOR
| Q4 25 | $329.5M | $273.0M | ||
| Q3 25 | $295.8M | $670.5M | ||
| Q2 25 | $535.0M | $390.5M | ||
| Q1 25 | $370.8M | $351.0M | ||
| Q4 24 | $337.5M | $250.4M | ||
| Q3 24 | $231.9M | $551.3M | ||
| Q2 24 | $492.5M | $318.4M | ||
| Q1 24 | $341.4M | $333.8M |
净利润ANDEFOR
| Q4 25 | $67.4M | $15.4M | ||
| Q3 25 | $20.1M | $86.9M | ||
| Q2 25 | $7.9M | $32.9M | ||
| Q1 25 | $284.0K | $31.6M | ||
| Q4 24 | $45.1M | $16.5M | ||
| Q3 24 | $27.4M | $81.5M | ||
| Q2 24 | $36.0M | $38.7M | ||
| Q1 24 | $5.6M | $45.0M |
毛利率ANDEFOR
| Q4 25 | 70.3% | 20.1% | ||
| Q3 25 | 57.8% | 22.3% | ||
| Q2 25 | 29.6% | 20.4% | ||
| Q1 25 | 41.2% | 22.6% | ||
| Q4 24 | 63.1% | 22.0% | ||
| Q3 24 | 76.4% | 23.9% | ||
| Q2 24 | 35.6% | 22.5% | ||
| Q1 24 | 37.6% | 24.9% |
营业利润率ANDEFOR
| Q4 25 | 26.6% | 7.6% | ||
| Q3 25 | 8.7% | 16.9% | ||
| Q2 25 | 4.6% | 11.2% | ||
| Q1 25 | 0.9% | 11.6% | ||
| Q4 24 | 19.9% | 8.7% | ||
| Q3 24 | 26.8% | 19.7% | ||
| Q2 24 | 11.6% | 16.2% | ||
| Q1 24 | 4.1% | 17.6% |
净利率ANDEFOR
| Q4 25 | 20.5% | 5.6% | ||
| Q3 25 | 6.8% | 13.0% | ||
| Q2 25 | 1.5% | 8.4% | ||
| Q1 25 | 0.1% | 9.0% | ||
| Q4 24 | 13.4% | 6.6% | ||
| Q3 24 | 11.8% | 14.8% | ||
| Q2 24 | 7.3% | 12.2% | ||
| Q1 24 | 1.6% | 13.5% |
每股收益（稀释后）ANDEFOR
| Q4 25 | — | $0.30 | ||
| Q3 25 | $0.59 | $1.70 | ||
| Q2 25 | $0.23 | $0.65 | ||
| Q1 25 | $0.01 | $0.62 | ||
| Q4 24 | $1.31 | $0.32 | ||
| Q3 24 | $0.80 | $1.59 | ||
| Q2 24 | $1.05 | $0.76 | ||
| Q1 24 | $0.16 | $0.89 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $98.3M | $211.7M |
| 总债务越低越好 | $560.0M | $793.2M |
| 股东权益账面价值 | $1.2B | $1.8B |
| 总资产 | $3.7B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.45× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资ANDEFOR
| Q4 25 | $98.3M | $211.7M | ||
| Q3 25 | — | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | $561.8M | $132.0M | ||
| Q3 24 | — | $481.2M | ||
| Q2 24 | — | $359.2M | ||
| Q1 24 | — | $416.2M |
总债务ANDEFOR
| Q4 25 | $560.0M | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | $608.2M | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
股东权益ANDEFOR
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $1.4B | $1.6B | ||
| Q4 24 | $1.4B | $1.6B | ||
| Q3 24 | $1.3B | $1.6B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.3B | $1.5B |
总资产ANDEFOR
| Q4 25 | $3.7B | $3.2B | ||
| Q3 25 | $3.3B | $3.1B | ||
| Q2 25 | $3.4B | $3.1B | ||
| Q1 25 | $3.8B | $3.0B | ||
| Q4 24 | $4.1B | $3.0B | ||
| Q3 24 | $3.4B | $2.8B | ||
| Q2 24 | $3.3B | $2.7B | ||
| Q1 24 | $3.3B | $2.6B |
负债/权益比ANDEFOR
| Q4 25 | 0.45× | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 0.45× | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-6.2M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $-77.1M | $-157.1M |
| 自由现金流率自由现金流/营收 | -23.4% | -57.5% |
| 资本支出强度资本支出/营收 | 21.5% | 0.0% |
| 现金转化率经营现金流/净利润 | -0.09× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $-56.1M | $93.0M |
8季度趋势，按日历期对齐
经营现金流ANDEFOR
| Q4 25 | $-6.2M | $-157.0M | ||
| Q3 25 | $233.9M | $256.3M | ||
| Q2 25 | $299.3M | $15.8M | ||
| Q1 25 | $-350.0M | $-19.8M | ||
| Q4 24 | $268.8M | $-450.0M | ||
| Q3 24 | $-2.1M | $119.2M | ||
| Q2 24 | $304.4M | $-61.7M | ||
| Q1 24 | $-239.6M | $-59.2M |
自由现金流ANDEFOR
| Q4 25 | $-77.1M | $-157.1M | ||
| Q3 25 | $167.0M | $255.6M | ||
| Q2 25 | $250.5M | $15.0M | ||
| Q1 25 | $-396.6M | $-20.5M | ||
| Q4 24 | $212.9M | — | ||
| Q3 24 | $-40.0M | $118.4M | ||
| Q2 24 | $275.8M | $-62.3M | ||
| Q1 24 | $-266.4M | $-59.8M |
自由现金流率ANDEFOR
| Q4 25 | -23.4% | -57.5% | ||
| Q3 25 | 56.5% | 38.1% | ||
| Q2 25 | 46.8% | 3.8% | ||
| Q1 25 | -106.9% | -5.8% | ||
| Q4 24 | 63.1% | — | ||
| Q3 24 | -17.2% | 21.5% | ||
| Q2 24 | 56.0% | -19.6% | ||
| Q1 24 | -78.0% | -17.9% |
资本支出强度ANDEFOR
| Q4 25 | 21.5% | 0.0% | ||
| Q3 25 | 22.6% | 0.1% | ||
| Q2 25 | 9.1% | 0.2% | ||
| Q1 25 | 12.6% | 0.2% | ||
| Q4 24 | 16.6% | 0.0% | ||
| Q3 24 | 16.3% | 0.1% | ||
| Q2 24 | 5.8% | 0.2% | ||
| Q1 24 | 7.8% | 0.2% |
现金转化率ANDEFOR
| Q4 25 | -0.09× | -10.19× | ||
| Q3 25 | 11.61× | 2.95× | ||
| Q2 25 | 38.10× | 0.48× | ||
| Q1 25 | -1232.46× | -0.63× | ||
| Q4 24 | 5.96× | -27.27× | ||
| Q3 24 | -0.08× | 1.46× | ||
| Q2 24 | 8.46× | -1.59× | ||
| Q1 24 | -42.94× | -1.32× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
