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Cadre Holdings, Inc.（CDRE）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Cadre Holdings, Inc.的1.6倍（$273.0M vs $167.2M），Cadre Holdings, Inc.净利率更高（7.0% vs 5.6%，领先1.4%），Forestar Group Inc.同比增速更快（9.0% vs -5.0%），Cadre Holdings, Inc.自由现金流更多（$18.0M vs $-157.1M），过去两年Cadre Holdings, Inc.的营收复合增速更高（10.1% vs -9.6%）
Cadre Holdings, Inc.是美国金融科技企业，面向个人及机构客户提供房地产投资项目直投渠道，覆盖纽约等地的商业地产。公司打造的投资平台支持投资者自主选择参与的具体交易项目，且投资门槛远低于全额收购物业所需资金，让不动产投资变得更接近股票交易，获得财经媒体的广泛认可。
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。
CDRE vs FOR — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $167.2M | $273.0M |
| 净利润 | $11.7M | $15.4M |
| 毛利率 | 43.4% | 20.1% |
| 营业利润率 | 12.2% | 7.6% |
| 净利率 | 7.0% | 5.6% |
| 营收同比 | -5.0% | 9.0% |
| 净利润同比 | -9.6% | -6.7% |
| 每股收益（稀释后） | $0.22 | $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
| Q4 25 | $167.2M | $273.0M | ||
| Q3 25 | $155.9M | $670.5M | ||
| Q2 25 | $157.1M | $390.5M | ||
| Q1 25 | $130.1M | $351.0M | ||
| Q4 24 | $176.0M | $250.4M | ||
| Q3 24 | $109.4M | $551.3M | ||
| Q2 24 | $144.3M | $318.4M | ||
| Q1 24 | $137.9M | $333.8M |
| Q4 25 | $11.7M | $15.4M | ||
| Q3 25 | $10.9M | $86.9M | ||
| Q2 25 | $12.2M | $32.9M | ||
| Q1 25 | $9.2M | $31.6M | ||
| Q4 24 | $13.0M | $16.5M | ||
| Q3 24 | $3.7M | $81.5M | ||
| Q2 24 | $12.6M | $38.7M | ||
| Q1 24 | $6.9M | $45.0M |
| Q4 25 | 43.4% | 20.1% | ||
| Q3 25 | 42.7% | 22.3% | ||
| Q2 25 | 40.9% | 20.4% | ||
| Q1 25 | 43.1% | 22.6% | ||
| Q4 24 | 43.9% | 22.0% | ||
| Q3 24 | 36.6% | 23.9% | ||
| Q2 24 | 40.6% | 22.5% | ||
| Q1 24 | 41.8% | 24.9% |
| Q4 25 | 12.2% | 7.6% | ||
| Q3 25 | 12.0% | 16.9% | ||
| Q2 25 | 9.3% | 11.2% | ||
| Q1 25 | 10.4% | 11.6% | ||
| Q4 24 | 16.7% | 8.7% | ||
| Q3 24 | 5.0% | 19.7% | ||
| Q2 24 | 13.8% | 16.2% | ||
| Q1 24 | 8.7% | 17.6% |
| Q4 25 | 7.0% | 5.6% | ||
| Q3 25 | 7.0% | 13.0% | ||
| Q2 25 | 7.8% | 8.4% | ||
| Q1 25 | 7.1% | 9.0% | ||
| Q4 24 | 7.4% | 6.6% | ||
| Q3 24 | 3.3% | 14.8% | ||
| Q2 24 | 8.7% | 12.2% | ||
| Q1 24 | 5.0% | 13.5% |
| Q4 25 | $0.22 | $0.30 | ||
| Q3 25 | $0.27 | $1.70 | ||
| Q2 25 | $0.30 | $0.65 | ||
| Q1 25 | $0.23 | $0.62 | ||
| Q4 24 | $0.32 | $0.32 | ||
| Q3 24 | $0.09 | $1.59 | ||
| Q2 24 | $0.31 | $0.76 | ||
| Q1 24 | $0.18 | $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 | $122.9M | $211.7M |
| 总债务越低越好 | — | $793.2M |
| 股东权益账面价值 | $317.8M | $1.8B |
| 总资产 | $770.0M | $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
| Q4 25 | $122.9M | $211.7M | ||
| Q3 25 | $150.9M | $379.2M | ||
| Q2 25 | $137.5M | $189.2M | ||
| Q1 25 | $133.4M | $174.3M | ||
| Q4 24 | $124.9M | $132.0M | ||
| Q3 24 | $93.0M | $481.2M | ||
| Q2 24 | $105.9M | $359.2M | ||
| Q1 24 | $87.1M | $416.2M |
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
| Q4 25 | $317.8M | $1.8B | ||
| Q3 25 | $340.4M | $1.8B | ||
| Q2 25 | $332.5M | $1.7B | ||
| Q1 25 | $317.6M | $1.6B | ||
| Q4 24 | $311.5M | $1.6B | ||
| Q3 24 | $300.3M | $1.6B | ||
| Q2 24 | $299.4M | $1.5B | ||
| Q1 24 | $270.7M | $1.5B |
| Q4 25 | $770.0M | $3.2B | ||
| Q3 25 | $792.1M | $3.1B | ||
| Q2 25 | $794.4M | $3.1B | ||
| Q1 25 | $656.3M | $3.0B | ||
| Q4 24 | $652.7M | $3.0B | ||
| Q3 24 | $616.6M | $2.8B | ||
| Q2 24 | $620.6M | $2.7B | ||
| Q1 24 | $599.4M | $2.6B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 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 | $21.3M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $18.0M | $-157.1M |
| 自由现金流率自由现金流/营收 | 10.7% | -57.5% |
| 资本支出强度资本支出/营收 | 2.0% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.81× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $56.8M | $93.0M |
8季度趋势，按日历期对齐
| Q4 25 | $21.3M | $-157.0M | ||
| Q3 25 | $22.5M | $256.3M | ||
| Q2 25 | $2.6M | $15.8M | ||
| Q1 25 | $17.4M | $-19.8M | ||
| Q4 24 | $23.7M | $-450.0M | ||
| Q3 24 | $-5.2M | $119.2M | ||
| Q2 24 | $11.1M | $-61.7M | ||
| Q1 24 | $2.1M | $-59.2M |
| Q4 25 | $18.0M | $-157.1M | ||
| Q3 25 | $21.6M | $255.6M | ||
| Q2 25 | $1.2M | $15.0M | ||
| Q1 25 | $16.1M | $-20.5M | ||
| Q4 24 | $22.4M | — | ||
| Q3 24 | $-6.2M | $118.4M | ||
| Q2 24 | $9.1M | $-62.3M | ||
| Q1 24 | $794.0K | $-59.8M |
| Q4 25 | 10.7% | -57.5% | ||
| Q3 25 | 13.9% | 38.1% | ||
| Q2 25 | 0.7% | 3.8% | ||
| Q1 25 | 12.4% | -5.8% | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | -5.7% | 21.5% | ||
| Q2 24 | 6.3% | -19.6% | ||
| Q1 24 | 0.6% | -17.9% |
| Q4 25 | 2.0% | 0.0% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 1.0% | 0.2% | ||
| Q4 24 | 0.7% | 0.0% | ||
| Q3 24 | 0.9% | 0.1% | ||
| Q2 24 | 1.4% | 0.2% | ||
| Q1 24 | 1.0% | 0.2% |
| Q4 25 | 1.81× | -10.19× | ||
| Q3 25 | 2.05× | 2.95× | ||
| Q2 25 | 0.21× | 0.48× | ||
| Q1 25 | 1.88× | -0.63× | ||
| Q4 24 | 1.83× | -27.27× | ||
| Q3 24 | -1.43× | 1.46× | ||
| Q2 24 | 0.89× | -1.59× | ||
| Q1 24 | 0.31× | -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
CDRE
| U.s.state And Local Agencies | $72.7M | 43% |
| Other | $48.6M | 29% |
| U.s.Federal Agencies | $31.6M | 19% |
| Commercial | $12.0M | 7% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
