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COUSINS PROPERTIES INC（CUZ）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COUSINS PROPERTIES INC的1.1倍（$273.0M vs $255.0M），Forestar Group Inc.净利率更高（5.6% vs -1.4%，领先7.0%），COUSINS PROPERTIES INC同比增速更快（13.2% vs 9.0%），COUSINS PROPERTIES INC自由现金流更多（$135.0M vs $-157.1M），过去两年COUSINS PROPERTIES INC的营收复合增速更高（10.4% vs -9.6%）
Cousins Properties是一家公开上市的房地产投资信托（REIT），专注于亚特兰大、夏洛特、奥斯汀、菲尼克斯、坦帕及北卡罗来纳州教堂山的写字楼资产投资。公司曾开发多个知名地标项目，包括亚特兰大的CNN中心、奥姆尼体育馆、桃树中心191号大厦以及埃默里角商业综合体。
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。
CUZ vs FOR — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $255.0M | $273.0M |
| 净利润 | $-3.5M | $15.4M |
| 毛利率 | 67.4% | 20.1% |
| 营业利润率 | 67.5% | 7.6% |
| 净利率 | -1.4% | 5.6% |
| 营收同比 | 13.2% | 9.0% |
| 净利润同比 | -125.4% | -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
| Q4 25 | $255.0M | $273.0M | ||
| Q3 25 | $248.3M | $670.5M | ||
| Q2 25 | $240.1M | $390.5M | ||
| Q1 25 | $250.3M | $351.0M | ||
| Q4 24 | $225.3M | $250.4M | ||
| Q3 24 | $209.2M | $551.3M | ||
| Q2 24 | $213.0M | $318.4M | ||
| Q1 24 | $209.2M | $333.8M |
| Q4 25 | $-3.5M | $15.4M | ||
| Q3 25 | $8.6M | $86.9M | ||
| Q2 25 | $14.5M | $32.9M | ||
| Q1 25 | $20.9M | $31.6M | ||
| Q4 24 | $13.6M | $16.5M | ||
| Q3 24 | $11.2M | $81.5M | ||
| Q2 24 | $7.8M | $38.7M | ||
| Q1 24 | $13.3M | $45.0M |
| Q4 25 | 67.4% | 20.1% | ||
| Q3 25 | 67.8% | 22.3% | ||
| Q2 25 | 69.1% | 20.4% | ||
| Q1 25 | 69.2% | 22.6% | ||
| Q4 24 | 67.6% | 22.0% | ||
| Q3 24 | 68.5% | 23.9% | ||
| Q2 24 | 66.8% | 22.5% | ||
| Q1 24 | 66.0% | 24.9% |
| Q4 25 | 67.5% | 7.6% | ||
| Q3 25 | 68.1% | 16.9% | ||
| Q2 25 | 69.4% | 11.2% | ||
| Q1 25 | 66.0% | 11.6% | ||
| Q4 24 | 65.8% | 8.7% | ||
| Q3 24 | 67.9% | 19.7% | ||
| Q2 24 | 66.4% | 16.2% | ||
| Q1 24 | 66.3% | 17.6% |
| Q4 25 | -1.4% | 5.6% | ||
| Q3 25 | 3.5% | 13.0% | ||
| Q2 25 | 6.0% | 8.4% | ||
| Q1 25 | 8.3% | 9.0% | ||
| Q4 24 | 6.1% | 6.6% | ||
| Q3 24 | 5.4% | 14.8% | ||
| Q2 24 | 3.7% | 12.2% | ||
| Q1 24 | 6.4% | 13.5% |
| Q4 25 | $-0.02 | $0.30 | ||
| Q3 25 | $0.05 | $1.70 | ||
| Q2 25 | $0.09 | $0.65 | ||
| Q1 25 | $0.12 | $0.62 | ||
| Q4 24 | $0.09 | $0.32 | ||
| Q3 24 | $0.07 | $1.59 | ||
| Q2 24 | $0.05 | $0.76 | ||
| Q1 24 | $0.09 | $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 | $5.7M | $211.7M |
| 总债务越低越好 | $3.3B | $793.2M |
| 股东权益账面价值 | $4.7B | $1.8B |
| 总资产 | $8.9B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.71× | 0.44× |
8季度趋势，按日历期对齐
| Q4 25 | $5.7M | $211.7M | ||
| Q3 25 | $4.7M | $379.2M | ||
| Q2 25 | $416.8M | $189.2M | ||
| Q1 25 | $5.3M | $174.3M | ||
| Q4 24 | $7.3M | $132.0M | ||
| Q3 24 | $76.1M | $481.2M | ||
| Q2 24 | $6.0M | $359.2M | ||
| Q1 24 | $5.5M | $416.2M |
| Q4 25 | $3.3B | $793.2M | ||
| Q3 25 | $3.3B | $802.7M | ||
| Q2 25 | $3.5B | $872.8M | ||
| Q1 25 | $3.0B | $872.5M | ||
| Q4 24 | $3.1B | $806.8M | ||
| Q3 24 | $2.7B | $706.4M | ||
| Q2 24 | $2.6B | $706.1M | ||
| Q1 24 | $2.6B | $705.7M |
| Q4 25 | $4.7B | $1.8B | ||
| Q3 25 | $4.7B | $1.8B | ||
| Q2 25 | $4.8B | $1.7B | ||
| Q1 25 | $4.8B | $1.6B | ||
| Q4 24 | $4.8B | $1.6B | ||
| Q3 24 | $4.4B | $1.6B | ||
| Q2 24 | $4.5B | $1.5B | ||
| Q1 24 | $4.5B | $1.5B |
| Q4 25 | $8.9B | $3.2B | ||
| Q3 25 | $8.9B | $3.1B | ||
| Q2 25 | $9.1B | $3.1B | ||
| Q1 25 | $8.7B | $3.0B | ||
| Q4 24 | $8.8B | $3.0B | ||
| Q3 24 | $7.8B | $2.8B | ||
| Q2 24 | $7.7B | $2.7B | ||
| Q1 24 | $7.7B | $2.6B |
| Q4 25 | 0.71× | 0.44× | ||
| Q3 25 | 0.70× | 0.45× | ||
| Q2 25 | 0.73× | 0.52× | ||
| Q1 25 | 0.63× | 0.53× | ||
| Q4 24 | 0.64× | 0.50× | ||
| Q3 24 | 0.60× | 0.44× | ||
| Q2 24 | 0.58× | 0.47× | ||
| Q1 24 | 0.57× | 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 | $402.3M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $135.0M | $-157.1M |
| 自由现金流率自由现金流/营收 | 53.0% | -57.5% |
| 资本支出强度资本支出/营收 | 104.8% | 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 | — | $93.0M |
8季度趋势，按日历期对齐
| Q4 25 | $402.3M | $-157.0M | ||
| Q3 25 | $120.5M | $256.3M | ||
| Q2 25 | $122.6M | $15.8M | ||
| Q1 25 | $44.8M | $-19.8M | ||
| Q4 24 | $400.2M | $-450.0M | ||
| Q3 24 | $117.4M | $119.2M | ||
| Q2 24 | $125.5M | $-61.7M | ||
| Q1 24 | $28.3M | $-59.2M |
| Q4 25 | $135.0M | $-157.1M | ||
| Q3 25 | — | $255.6M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $-20.5M | ||
| Q4 24 | $147.5M | — | ||
| Q3 24 | — | $118.4M | ||
| Q2 24 | — | $-62.3M | ||
| Q1 24 | — | $-59.8M |
| Q4 25 | 53.0% | -57.5% | ||
| Q3 25 | — | 38.1% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | 65.5% | — | ||
| Q3 24 | — | 21.5% | ||
| Q2 24 | — | -19.6% | ||
| Q1 24 | — | -17.9% |
| Q4 25 | 104.8% | 0.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 112.2% | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | 14.03× | 2.95× | ||
| Q2 25 | 8.46× | 0.48× | ||
| Q1 25 | 2.14× | -0.63× | ||
| Q4 24 | 29.35× | -27.27× | ||
| Q3 24 | 10.48× | 1.46× | ||
| Q2 24 | 16.01× | -1.59× | ||
| Q1 24 | 2.13× | -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
CUZ
| Rental Properties | $253.3M | 99% |
| Fee And Other Revenue | $1.7M | 1% |
| Other | $1.2M | 0% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
