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Alphatec Holdings, Inc.（ATEC）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
Forestar Group Inc.的季度营收约是Alphatec Holdings, Inc.的1.3倍（$273.0M vs $212.9M），Forestar Group Inc.净利率更高（5.6% vs -10.2%，领先15.8%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 9.0%），Alphatec Holdings, Inc.自由现金流更多（$7.7M vs $-157.1M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs -9.6%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
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。
ATEC vs FOR — 直观对比
营收规模更大
FOR
是对方的1.3倍
$212.9M
营收增速更快
ATEC
高出11.4%
9.0%
净利率更高
FOR
高出15.8%
-10.2%
自由现金流更多
ATEC
多$164.8M
$-157.1M
两年增速更快
ATEC
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $273.0M |
| 净利润 | $-21.7M | $15.4M |
| 毛利率 | 70.2% | 20.1% |
| 营业利润率 | -4.1% | 7.6% |
| 净利率 | -10.2% | 5.6% |
| 营收同比 | 20.4% | 9.0% |
| 净利润同比 | 34.8% | -6.7% |
| 每股收益（稀释后） | $-0.15 | $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ATECFOR
| Q4 25 | $212.9M | $273.0M | ||
| Q3 25 | $196.5M | $670.5M | ||
| Q2 25 | $185.5M | $390.5M | ||
| Q1 25 | $169.2M | $351.0M | ||
| Q4 24 | $176.8M | $250.4M | ||
| Q3 24 | $150.7M | $551.3M | ||
| Q2 24 | $145.6M | $318.4M | ||
| Q1 24 | $138.5M | $333.8M |
净利润ATECFOR
| Q4 25 | $-21.7M | $15.4M | ||
| Q3 25 | $-28.6M | $86.9M | ||
| Q2 25 | $-41.1M | $32.9M | ||
| Q1 25 | $-51.9M | $31.6M | ||
| Q4 24 | $-33.3M | $16.5M | ||
| Q3 24 | $-39.6M | $81.5M | ||
| Q2 24 | $-40.7M | $38.7M | ||
| Q1 24 | $-48.5M | $45.0M |
毛利率ATECFOR
| Q4 25 | 70.2% | 20.1% | ||
| Q3 25 | 69.9% | 22.3% | ||
| Q2 25 | 69.6% | 20.4% | ||
| Q1 25 | 68.6% | 22.6% | ||
| Q4 24 | 68.8% | 22.0% | ||
| Q3 24 | 68.2% | 23.9% | ||
| Q2 24 | 70.5% | 22.5% | ||
| Q1 24 | 70.3% | 24.9% |
营业利润率ATECFOR
| Q4 25 | -4.1% | 7.6% | ||
| Q3 25 | -8.1% | 16.9% | ||
| Q2 25 | -7.1% | 11.2% | ||
| Q1 25 | -26.2% | 11.6% | ||
| Q4 24 | -13.5% | 8.7% | ||
| Q3 24 | -22.4% | 19.7% | ||
| Q2 24 | -24.3% | 16.2% | ||
| Q1 24 | -31.3% | 17.6% |
净利率ATECFOR
| Q4 25 | -10.2% | 5.6% | ||
| Q3 25 | -14.5% | 13.0% | ||
| Q2 25 | -22.2% | 8.4% | ||
| Q1 25 | -30.7% | 9.0% | ||
| Q4 24 | -18.9% | 6.6% | ||
| Q3 24 | -26.3% | 14.8% | ||
| Q2 24 | -27.9% | 12.2% | ||
| Q1 24 | -35.0% | 13.5% |
每股收益（稀释后）ATECFOR
| Q4 25 | $-0.15 | $0.30 | ||
| Q3 25 | $-0.19 | $1.70 | ||
| Q2 25 | $-0.27 | $0.65 | ||
| Q1 25 | $-0.35 | $0.62 | ||
| Q4 24 | $-0.22 | $0.32 | ||
| Q3 24 | $-0.28 | $1.59 | ||
| Q2 24 | $-0.29 | $0.76 | ||
| Q1 24 | $-0.34 | $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 | $160.8M | $211.7M |
| 总债务越低越好 | $565.9M | $793.2M |
| 股东权益账面价值 | $12.4M | $1.8B |
| 总资产 | $791.2M | $3.2B |
| 负债/权益比越低杠杆越低 | 45.54× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资ATECFOR
| Q4 25 | $160.8M | $211.7M | ||
| Q3 25 | $155.7M | $379.2M | ||
| Q2 25 | $157.1M | $189.2M | ||
| Q1 25 | $153.2M | $174.3M | ||
| Q4 24 | $138.8M | $132.0M | ||
| Q3 24 | $81.0M | $481.2M | ||
| Q2 24 | $99.8M | $359.2M | ||
| Q1 24 | $144.1M | $416.2M |
总债务ATECFOR
| Q4 25 | $565.9M | $793.2M | ||
| Q3 25 | $559.7M | $802.7M | ||
| Q2 25 | $553.9M | $872.8M | ||
| Q1 25 | $548.4M | $872.5M | ||
| Q4 24 | $576.2M | $806.8M | ||
| Q3 24 | $527.7M | $706.4M | ||
| Q2 24 | $519.2M | $706.1M | ||
| Q1 24 | $514.4M | $705.7M |
股东权益ATECFOR
| Q4 25 | $12.4M | $1.8B | ||
| Q3 25 | $11.5M | $1.8B | ||
| Q2 25 | $23.8M | $1.7B | ||
| Q1 25 | $-85.9M | $1.6B | ||
| Q4 24 | $-14.2M | $1.6B | ||
| Q3 24 | $-1.4M | $1.6B | ||
| Q2 24 | $17.1M | $1.5B | ||
| Q1 24 | $37.6M | $1.5B |
总资产ATECFOR
| Q4 25 | $791.2M | $3.2B | ||
| Q3 25 | $787.2M | $3.1B | ||
| Q2 25 | $790.3M | $3.1B | ||
| Q1 25 | $785.5M | $3.0B | ||
| Q4 24 | $775.7M | $3.0B | ||
| Q3 24 | $745.9M | $2.8B | ||
| Q2 24 | $768.6M | $2.7B | ||
| Q1 24 | $774.6M | $2.6B |
负债/权益比ATECFOR
| Q4 25 | 45.54× | 0.44× | ||
| Q3 25 | 48.64× | 0.45× | ||
| Q2 25 | 23.30× | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | 30.34× | 0.47× | ||
| Q1 24 | 13.70× | 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 | $20.7M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $-157.1M |
| 自由现金流率自由现金流/营收 | 3.6% | -57.5% |
| 资本支出强度资本支出/营收 | 6.1% | 0.0% |
| 现金转化率经营现金流/净利润 | — | -10.19× |
| 过去12个月自由现金流最近4个季度 | $2.8M | $93.0M |
8季度趋势，按日历期对齐
经营现金流ATECFOR
| Q4 25 | $20.7M | $-157.0M | ||
| Q3 25 | $14.0M | $256.3M | ||
| Q2 25 | $15.5M | $15.8M | ||
| Q1 25 | $-5.0M | $-19.8M | ||
| Q4 24 | $10.5M | $-450.0M | ||
| Q3 24 | $-5.3M | $119.2M | ||
| Q2 24 | $-11.4M | $-61.7M | ||
| Q1 24 | $-38.4M | $-59.2M |
自由现金流ATECFOR
| Q4 25 | $7.7M | $-157.1M | ||
| Q3 25 | $4.8M | $255.6M | ||
| Q2 25 | $5.2M | $15.0M | ||
| Q1 25 | $-15.0M | $-20.5M | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $-21.2M | $118.4M | ||
| Q2 24 | $-45.5M | $-62.3M | ||
| Q1 24 | $-69.8M | $-59.8M |
自由现金流率ATECFOR
| Q4 25 | 3.6% | -57.5% | ||
| Q3 25 | 2.4% | 38.1% | ||
| Q2 25 | 2.8% | 3.8% | ||
| Q1 25 | -8.9% | -5.8% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | -14.1% | 21.5% | ||
| Q2 24 | -31.3% | -19.6% | ||
| Q1 24 | -50.4% | -17.9% |
资本支出强度ATECFOR
| Q4 25 | 6.1% | 0.0% | ||
| Q3 25 | 4.7% | 0.1% | ||
| Q2 25 | 5.6% | 0.2% | ||
| Q1 25 | 5.9% | 0.2% | ||
| Q4 24 | 1.1% | 0.0% | ||
| Q3 24 | 10.5% | 0.1% | ||
| Q2 24 | 23.4% | 0.2% | ||
| Q1 24 | 22.6% | 0.2% |
现金转化率ATECFOR
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | — | -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
ATEC
暂无分部数据
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
