vs
黑莓（BB）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.的季度营收约是黑莓的1.9倍（$273.0M vs $141.8M），黑莓净利率更高（9.7% vs 5.6%，领先4.0%），Forestar Group Inc.同比增速更快（9.0% vs -0.8%），黑莓自由现金流更多（$17.4M vs $-157.1M），过去两年黑莓的营收复合增速更高（17.8% vs -9.6%）
黑莓有限公司（前身为动态研究公司，简称RIM）是加拿大专注于安全通信与物联网领域的软件企业，成立于1984年。早年曾推出黑莓品牌双向寻呼机、智能手机及平板电脑产品，后续转型提供软件与服务，拥有多项核心软件应用专利。
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。
BB vs FOR — 直观对比
营收规模更大
FOR
是对方的1.9倍
$141.8M
营收增速更快
FOR
高出9.9%
-0.8%
净利率更高
BB
高出4.0%
5.6%
自由现金流更多
BB
多$174.5M
$-157.1M
两年增速更快
BB
近两年复合增速
-9.6%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $141.8M | $273.0M |
| 净利润 | $13.7M | $15.4M |
| 毛利率 | 77.5% | 20.1% |
| 营业利润率 | 8.4% | 7.6% |
| 净利率 | 9.7% | 5.6% |
| 营收同比 | -0.8% | 9.0% |
| 净利润同比 | 224.5% | -6.7% |
| 每股收益（稀释后） | $0.02 | $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BBFOR
| Q4 25 | $141.8M | $273.0M | ||
| Q3 25 | $129.6M | $670.5M | ||
| Q2 25 | $121.7M | $390.5M | ||
| Q1 25 | $141.7M | $351.0M | ||
| Q4 24 | $143.6M | $250.4M | ||
| Q3 24 | $126.2M | $551.3M | ||
| Q2 24 | $123.4M | $318.4M | ||
| Q1 24 | $102.1M | $333.8M |
净利润BBFOR
| Q4 25 | $13.7M | $15.4M | ||
| Q3 25 | $13.3M | $86.9M | ||
| Q2 25 | $1.9M | $32.9M | ||
| Q1 25 | $-7.4M | $31.6M | ||
| Q4 24 | $-10.5M | $16.5M | ||
| Q3 24 | $-19.7M | $81.5M | ||
| Q2 24 | $-41.4M | $38.7M | ||
| Q1 24 | $-56.2M | $45.0M |
毛利率BBFOR
| Q4 25 | 77.5% | 20.1% | ||
| Q3 25 | 74.5% | 22.3% | ||
| Q2 25 | 74.2% | 20.4% | ||
| Q1 25 | 73.5% | 22.6% | ||
| Q4 24 | 78.1% | 22.0% | ||
| Q3 24 | 70.2% | 23.9% | ||
| Q2 24 | 72.9% | 22.5% | ||
| Q1 24 | — | 24.9% |
营业利润率BBFOR
| Q4 25 | 8.4% | 7.6% | ||
| Q3 25 | 8.9% | 16.9% | ||
| Q2 25 | 1.6% | 11.2% | ||
| Q1 25 | -5.6% | 11.6% | ||
| Q4 24 | 13.6% | 8.7% | ||
| Q3 24 | 1.7% | 19.7% | ||
| Q2 24 | -10.5% | 16.2% | ||
| Q1 24 | 50.0% | 17.6% |
净利率BBFOR
| Q4 25 | 9.7% | 5.6% | ||
| Q3 25 | 10.3% | 13.0% | ||
| Q2 25 | 1.6% | 8.4% | ||
| Q1 25 | -5.2% | 9.0% | ||
| Q4 24 | -7.3% | 6.6% | ||
| Q3 24 | -15.6% | 14.8% | ||
| Q2 24 | -33.5% | 12.2% | ||
| Q1 24 | -55.0% | 13.5% |
每股收益（稀释后）BBFOR
| Q4 25 | $0.02 | $0.30 | ||
| Q3 25 | $0.02 | $1.70 | ||
| Q2 25 | $0.00 | $0.65 | ||
| Q1 25 | $-0.01 | $0.62 | ||
| Q4 24 | $-0.02 | $0.32 | ||
| Q3 24 | $-0.03 | $1.59 | ||
| Q2 24 | $-0.07 | $0.76 | ||
| Q1 24 | $-0.08 | $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 | $304.2M | $211.7M |
| 总债务越低越好 | $196.2M | $793.2M |
| 股东权益账面价值 | $741.1M | $1.8B |
| 总资产 | $1.2B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.26× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资BBFOR
| Q4 25 | $304.2M | $211.7M | ||
| Q3 25 | $290.5M | $379.2M | ||
| Q2 25 | $306.6M | $189.2M | ||
| Q1 25 | $337.8M | $174.3M | ||
| Q4 24 | $220.0M | $132.0M | ||
| Q3 24 | $211.0M | $481.2M | ||
| Q2 24 | $229.0M | $359.2M | ||
| Q1 24 | $237.1M | $416.2M |
总债务BBFOR
| Q4 25 | $196.2M | $793.2M | ||
| Q3 25 | $195.9M | $802.7M | ||
| Q2 25 | $195.6M | $872.8M | ||
| Q1 25 | $195.3M | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | $194.1M | $705.7M |
股东权益BBFOR
| Q4 25 | $741.1M | $1.8B | ||
| Q3 25 | $725.1M | $1.8B | ||
| Q2 25 | $725.1M | $1.7B | ||
| Q1 25 | $719.9M | $1.6B | ||
| Q4 24 | $725.2M | $1.6B | ||
| Q3 24 | $732.1M | $1.6B | ||
| Q2 24 | $742.6M | $1.5B | ||
| Q1 24 | $775.1M | $1.5B |
总资产BBFOR
| Q4 25 | $1.2B | $3.2B | ||
| Q3 25 | $1.2B | $3.1B | ||
| Q2 25 | $1.2B | $3.1B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.3B | $3.0B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.3B | $2.7B | ||
| Q1 24 | $1.4B | $2.6B |
负债/权益比BBFOR
| Q4 25 | 0.26× | 0.44× | ||
| Q3 25 | 0.27× | 0.45× | ||
| Q2 25 | 0.27× | 0.52× | ||
| Q1 25 | 0.27× | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | 0.25× | 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 | $18.3M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $17.4M | $-157.1M |
| 自由现金流率自由现金流/营收 | 12.3% | -57.5% |
| 资本支出强度资本支出/营收 | 0.6% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.34× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $42.8M | $93.0M |
8季度趋势，按日历期对齐
经营现金流BBFOR
| Q4 25 | $18.3M | $-157.0M | ||
| Q3 25 | $3.9M | $256.3M | ||
| Q2 25 | $-18.0M | $15.8M | ||
| Q1 25 | $41.6M | $-19.8M | ||
| Q4 24 | $6.0M | $-450.0M | ||
| Q3 24 | $-16.0M | $119.2M | ||
| Q2 24 | $-15.1M | $-61.7M | ||
| Q1 24 | $-15.5M | $-59.2M |
自由现金流BBFOR
| Q4 25 | $17.4M | $-157.1M | ||
| Q3 25 | $3.1M | $255.6M | ||
| Q2 25 | $-18.9M | $15.0M | ||
| Q1 25 | $41.2M | $-20.5M | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $-16.5M | $118.4M | ||
| Q2 24 | $-16.5M | $-62.3M | ||
| Q1 24 | $-17.6M | $-59.8M |
自由现金流率BBFOR
| Q4 25 | 12.3% | -57.5% | ||
| Q3 25 | 2.4% | 38.1% | ||
| Q2 25 | -15.5% | 3.8% | ||
| Q1 25 | 29.1% | -5.8% | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | -13.1% | 21.5% | ||
| Q2 24 | -13.4% | -19.6% | ||
| Q1 24 | -17.2% | -17.9% |
资本支出强度BBFOR
| Q4 25 | 0.6% | 0.0% | ||
| Q3 25 | 0.6% | 0.1% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 0.3% | 0.2% | ||
| Q4 24 | 0.6% | 0.0% | ||
| Q3 24 | 0.4% | 0.1% | ||
| Q2 24 | 1.1% | 0.2% | ||
| Q1 24 | 2.1% | 0.2% |
现金转化率BBFOR
| Q4 25 | 1.34× | -10.19× | ||
| Q3 25 | 0.29× | 2.95× | ||
| Q2 25 | -9.47× | 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
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
