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AtriCure, Inc.（ATRC）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AtriCure, Inc.的1.9倍（$273.0M vs $140.5M），AtriCure, Inc.同比增速更快（13.1% vs 9.0%），AtriCure, Inc.自由现金流更多（$18.4M vs $-157.1M），过去两年AtriCure, Inc.的营收复合增速更高（13.6% vs -9.6%）
AtriCure是一家专注于心房颤动及相关心脏病症治疗的医疗设备企业，研发并生产创新外科手术工具与疗法，主要服务北美、欧洲、亚太地区的医院、心脏外科中心及医疗机构，为微创心脏手术提供高效可靠的适配解决方案。
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。
ATRC vs FOR — 直观对比
营收规模更大
FOR
是对方的1.9倍
$140.5M
营收增速更快
ATRC
高出4.0%
9.0%
自由现金流更多
ATRC
多$175.5M
$-157.1M
两年增速更快
ATRC
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $140.5M | $273.0M |
| 净利润 | — | $15.4M |
| 毛利率 | 75.0% | 20.1% |
| 营业利润率 | 1.8% | 7.6% |
| 净利率 | — | 5.6% |
| 营收同比 | 13.1% | 9.0% |
| 净利润同比 | — | -6.7% |
| 每股收益（稀释后） | $0.04 | $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ATRCFOR
| Q4 25 | $140.5M | $273.0M | ||
| Q3 25 | $134.3M | $670.5M | ||
| Q2 25 | $136.1M | $390.5M | ||
| Q1 25 | $123.6M | $351.0M | ||
| Q4 24 | $124.3M | $250.4M | ||
| Q3 24 | $115.9M | $551.3M | ||
| Q2 24 | $116.3M | $318.4M | ||
| Q1 24 | $108.9M | $333.8M |
净利润ATRCFOR
| Q4 25 | — | $15.4M | ||
| Q3 25 | $-267.0K | $86.9M | ||
| Q2 25 | $-6.2M | $32.9M | ||
| Q1 25 | $-6.7M | $31.6M | ||
| Q4 24 | — | $16.5M | ||
| Q3 24 | $-7.9M | $81.5M | ||
| Q2 24 | $-8.0M | $38.7M | ||
| Q1 24 | $-13.3M | $45.0M |
毛利率ATRCFOR
| Q4 25 | 75.0% | 20.1% | ||
| Q3 25 | 75.5% | 22.3% | ||
| Q2 25 | 74.5% | 20.4% | ||
| Q1 25 | 74.9% | 22.6% | ||
| Q4 24 | 74.5% | 22.0% | ||
| Q3 24 | 74.9% | 23.9% | ||
| Q2 24 | 74.7% | 22.5% | ||
| Q1 24 | 74.7% | 24.9% |
营业利润率ATRCFOR
| Q4 25 | 1.8% | 7.6% | ||
| Q3 25 | 0.2% | 16.9% | ||
| Q2 25 | -4.5% | 11.2% | ||
| Q1 25 | -4.8% | 11.6% | ||
| Q4 24 | -11.7% | 8.7% | ||
| Q3 24 | -6.4% | 19.7% | ||
| Q2 24 | -6.2% | 16.2% | ||
| Q1 24 | -10.0% | 17.6% |
净利率ATRCFOR
| Q4 25 | — | 5.6% | ||
| Q3 25 | -0.2% | 13.0% | ||
| Q2 25 | -4.5% | 8.4% | ||
| Q1 25 | -5.5% | 9.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | -6.8% | 14.8% | ||
| Q2 24 | -6.9% | 12.2% | ||
| Q1 24 | -12.2% | 13.5% |
每股收益（稀释后）ATRCFOR
| Q4 25 | $0.04 | $0.30 | ||
| Q3 25 | $-0.01 | $1.70 | ||
| Q2 25 | $-0.13 | $0.65 | ||
| Q1 25 | $-0.14 | $0.62 | ||
| Q4 24 | $-0.33 | $0.32 | ||
| Q3 24 | $-0.17 | $1.59 | ||
| Q2 24 | $-0.17 | $0.76 | ||
| Q1 24 | $-0.28 | $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 | $167.4M | $211.7M |
| 总债务越低越好 | — | $793.2M |
| 股东权益账面价值 | $491.9M | $1.8B |
| 总资产 | $654.2M | $3.2B |
| 负债/权益比越低杠杆越低 | — | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资ATRCFOR
| Q4 25 | $167.4M | $211.7M | ||
| Q3 25 | $147.9M | $379.2M | ||
| Q2 25 | $117.8M | $189.2M | ||
| Q1 25 | $99.9M | $174.3M | ||
| Q4 24 | $122.7M | $132.0M | ||
| Q3 24 | $130.3M | $481.2M | ||
| Q2 24 | $114.0M | $359.2M | ||
| Q1 24 | $106.0M | $416.2M |
总债务ATRCFOR
| Q4 25 | — | $793.2M | ||
| Q3 25 | $61.9M | $802.7M | ||
| Q2 25 | $61.9M | $872.8M | ||
| Q1 25 | $61.9M | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | $61.9M | $706.4M | ||
| Q2 24 | $61.9M | $706.1M | ||
| Q1 24 | $61.9M | $705.7M |
股东权益ATRCFOR
| Q4 25 | $491.9M | $1.8B | ||
| Q3 25 | $476.5M | $1.8B | ||
| Q2 25 | $464.5M | $1.7B | ||
| Q1 25 | $454.6M | $1.6B | ||
| Q4 24 | $461.0M | $1.6B | ||
| Q3 24 | $465.0M | $1.6B | ||
| Q2 24 | $462.1M | $1.5B | ||
| Q1 24 | $456.3M | $1.5B |
总资产ATRCFOR
| Q4 25 | $654.2M | $3.2B | ||
| Q3 25 | $635.4M | $3.1B | ||
| Q2 25 | $608.8M | $3.1B | ||
| Q1 25 | $591.6M | $3.0B | ||
| Q4 24 | $609.3M | $3.0B | ||
| Q3 24 | $615.1M | $2.8B | ||
| Q2 24 | $597.3M | $2.7B | ||
| Q1 24 | $591.6M | $2.6B |
负债/权益比ATRCFOR
| Q4 25 | — | 0.44× | ||
| Q3 25 | 0.13× | 0.45× | ||
| Q2 25 | 0.13× | 0.52× | ||
| Q1 25 | 0.14× | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | 0.13× | 0.44× | ||
| Q2 24 | 0.13× | 0.47× | ||
| Q1 24 | 0.14× | 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 | $20.0M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $18.4M | $-157.1M |
| 自由现金流率自由现金流/营收 | 13.1% | -57.5% |
| 资本支出强度资本支出/营收 | 1.1% | 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 | $48.3M | $93.0M |
8季度趋势，按日历期对齐
经营现金流ATRCFOR
| Q4 25 | $20.0M | $-157.0M | ||
| Q3 25 | $26.7M | $256.3M | ||
| Q2 25 | $21.6M | $15.8M | ||
| Q1 25 | $-11.0M | $-19.8M | ||
| Q4 24 | $5.8M | $-450.0M | ||
| Q3 24 | $20.0M | $119.2M | ||
| Q2 24 | $7.4M | $-61.7M | ||
| Q1 24 | $-21.0M | $-59.2M |
自由现金流ATRCFOR
| Q4 25 | $18.4M | $-157.1M | ||
| Q3 25 | $24.1M | $255.6M | ||
| Q2 25 | $19.0M | $15.0M | ||
| Q1 25 | $-13.2M | $-20.5M | ||
| Q4 24 | $3.1M | — | ||
| Q3 24 | $16.4M | $118.4M | ||
| Q2 24 | $5.0M | $-62.3M | ||
| Q1 24 | $-23.8M | $-59.8M |
自由现金流率ATRCFOR
| Q4 25 | 13.1% | -57.5% | ||
| Q3 25 | 18.0% | 38.1% | ||
| Q2 25 | 13.9% | 3.8% | ||
| Q1 25 | -10.7% | -5.8% | ||
| Q4 24 | 2.5% | — | ||
| Q3 24 | 14.1% | 21.5% | ||
| Q2 24 | 4.3% | -19.6% | ||
| Q1 24 | -21.9% | -17.9% |
资本支出强度ATRCFOR
| Q4 25 | 1.1% | 0.0% | ||
| Q3 25 | 1.9% | 0.1% | ||
| Q2 25 | 2.0% | 0.2% | ||
| Q1 25 | 1.8% | 0.2% | ||
| Q4 24 | 2.2% | 0.0% | ||
| Q3 24 | 3.1% | 0.1% | ||
| Q2 24 | 2.1% | 0.2% | ||
| Q1 24 | 2.5% | 0.2% |
现金转化率ATRCFOR
| 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
ATRC
| Appendage Management | $45.5M | 32% |
| Openheart | $38.5M | 27% |
| Other | $26.2M | 19% |
| Pain Management | $22.6M | 16% |
| Minimally Invasive | $7.7M | 6% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
