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威伯科（CVGI）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.的季度营收约是威伯科的1.8倍（$273.0M vs $154.8M），Forestar Group Inc.同比增速更快（9.0% vs -5.2%），威伯科自由现金流更多（$8.7M vs $-157.1M），过去两年Forestar Group Inc.的营收复合增速更高（-9.6% vs -10.8%）
威伯科控股曾是总部位于美国的重型商用车零部件供应商，主打电子制动、稳定性控制、悬挂及传动自动化系统，产品广泛应用于卡车、巴士、挂车以及非道路作业车辆等各类商用车领域，是商用车行业重要的零部件提供商。
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。
CVGI vs FOR — 直观对比
营收规模更大
FOR
是对方的1.8倍
$154.8M
营收增速更快
FOR
高出14.2%
-5.2%
自由现金流更多
CVGI
多$165.8M
$-157.1M
两年增速更快
FOR
近两年复合增速
-10.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $154.8M | $273.0M |
| 净利润 | — | $15.4M |
| 毛利率 | 9.7% | 20.1% |
| 营业利润率 | -1.2% | 7.6% |
| 净利率 | — | 5.6% |
| 营收同比 | -5.2% | 9.0% |
| 净利润同比 | — | -6.7% |
| 每股收益（稀释后） | — | $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CVGIFOR
| Q4 25 | $154.8M | $273.0M | ||
| Q3 25 | $152.5M | $670.5M | ||
| Q2 25 | $172.0M | $390.5M | ||
| Q1 25 | $169.8M | $351.0M | ||
| Q4 24 | $163.3M | $250.4M | ||
| Q3 24 | $171.8M | $551.3M | ||
| Q2 24 | $193.7M | $318.4M | ||
| Q1 24 | $194.6M | $333.8M |
净利润CVGIFOR
| Q4 25 | — | $15.4M | ||
| Q3 25 | $-7.1M | $86.9M | ||
| Q2 25 | $-4.8M | $32.9M | ||
| Q1 25 | $-4.3M | $31.6M | ||
| Q4 24 | — | $16.5M | ||
| Q3 24 | $9.5M | $81.5M | ||
| Q2 24 | $-1.6M | $38.7M | ||
| Q1 24 | $2.9M | $45.0M |
毛利率CVGIFOR
| Q4 25 | 9.7% | 20.1% | ||
| Q3 25 | 10.5% | 22.3% | ||
| Q2 25 | 11.4% | 20.4% | ||
| Q1 25 | 10.5% | 22.6% | ||
| Q4 24 | 8.0% | 22.0% | ||
| Q3 24 | 9.6% | 23.9% | ||
| Q2 24 | 10.6% | 22.5% | ||
| Q1 24 | 11.9% | 24.9% |
营业利润率CVGIFOR
| Q4 25 | -1.2% | 7.6% | ||
| Q3 25 | -0.7% | 16.9% | ||
| Q2 25 | 0.5% | 11.2% | ||
| Q1 25 | 0.8% | 11.6% | ||
| Q4 24 | -3.2% | 8.7% | ||
| Q3 24 | -0.6% | 19.7% | ||
| Q2 24 | 0.5% | 16.2% | ||
| Q1 24 | 2.3% | 17.6% |
净利率CVGIFOR
| Q4 25 | — | 5.6% | ||
| Q3 25 | -4.6% | 13.0% | ||
| Q2 25 | -2.8% | 8.4% | ||
| Q1 25 | -2.5% | 9.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 5.5% | 14.8% | ||
| Q2 24 | -0.8% | 12.2% | ||
| Q1 24 | 1.5% | 13.5% |
每股收益（稀释后）CVGIFOR
| Q4 25 | — | $0.30 | ||
| Q3 25 | — | $1.70 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | — | $0.32 | ||
| Q3 24 | — | $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 | — | $211.7M |
| 总债务越低越好 | $104.9M | $793.2M |
| 股东权益账面价值 | $133.4M | $1.8B |
| 总资产 | $391.7M | $3.2B |
| 负债/权益比越低杠杆越低 | 0.79× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资CVGIFOR
| Q4 25 | — | $211.7M | ||
| Q3 25 | — | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | — | $481.2M | ||
| Q2 24 | — | $359.2M | ||
| Q1 24 | — | $416.2M |
总债务CVGIFOR
| Q4 25 | $104.9M | $793.2M | ||
| Q3 25 | $108.2M | $802.7M | ||
| Q2 25 | $118.2M | $872.8M | ||
| Q1 25 | $117.4M | $872.5M | ||
| Q4 24 | $135.5M | $806.8M | ||
| Q3 24 | $128.8M | $706.4M | ||
| Q2 24 | $142.0M | $706.1M | ||
| Q1 24 | $155.7M | $705.7M |
股东权益CVGIFOR
| Q4 25 | $133.4M | $1.8B | ||
| Q3 25 | $136.5M | $1.8B | ||
| Q2 25 | $142.6M | $1.7B | ||
| Q1 25 | $136.7M | $1.6B | ||
| Q4 24 | $135.6M | $1.6B | ||
| Q3 24 | $179.3M | $1.6B | ||
| Q2 24 | $169.6M | $1.5B | ||
| Q1 24 | $175.5M | $1.5B |
总资产CVGIFOR
| Q4 25 | $391.7M | $3.2B | ||
| Q3 25 | $400.3M | $3.1B | ||
| Q2 25 | $429.8M | $3.1B | ||
| Q1 25 | $419.8M | $3.0B | ||
| Q4 24 | $424.6M | $3.0B | ||
| Q3 24 | $495.3M | $2.8B | ||
| Q2 24 | $503.2M | $2.7B | ||
| Q1 24 | $509.2M | $2.6B |
负债/权益比CVGIFOR
| Q4 25 | 0.79× | 0.44× | ||
| Q3 25 | 0.79× | 0.45× | ||
| Q2 25 | 0.83× | 0.52× | ||
| Q1 25 | 0.86× | 0.53× | ||
| Q4 24 | 1.00× | 0.50× | ||
| Q3 24 | 0.72× | 0.44× | ||
| Q2 24 | 0.84× | 0.47× | ||
| Q1 24 | 0.89× | 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 | $12.3M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $8.7M | $-157.1M |
| 自由现金流率自由现金流/营收 | 5.6% | -57.5% |
| 资本支出强度资本支出/营收 | 2.3% | 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 | $34.0M | $93.0M |
8季度趋势，按日历期对齐
经营现金流CVGIFOR
| Q4 25 | $12.3M | $-157.0M | ||
| Q3 25 | $-1.7M | $256.3M | ||
| Q2 25 | $18.9M | $15.8M | ||
| Q1 25 | $15.2M | $-19.8M | ||
| Q4 24 | $-26.6M | $-450.0M | ||
| Q3 24 | $-17.1M | $119.2M | ||
| Q2 24 | $12.6M | $-61.7M | ||
| Q1 24 | $-2.4M | $-59.2M |
自由现金流CVGIFOR
| Q4 25 | $8.7M | $-157.1M | ||
| Q3 25 | $-3.5M | $255.6M | ||
| Q2 25 | $17.4M | $15.0M | ||
| Q1 25 | $11.4M | $-20.5M | ||
| Q4 24 | $-30.6M | — | ||
| Q3 24 | $-20.3M | $118.4M | ||
| Q2 24 | $6.4M | $-62.3M | ||
| Q1 24 | $-7.4M | $-59.8M |
自由现金流率CVGIFOR
| Q4 25 | 5.6% | -57.5% | ||
| Q3 25 | -2.3% | 38.1% | ||
| Q2 25 | 10.1% | 3.8% | ||
| Q1 25 | 6.7% | -5.8% | ||
| Q4 24 | -18.7% | — | ||
| Q3 24 | -11.8% | 21.5% | ||
| Q2 24 | 3.3% | -19.6% | ||
| Q1 24 | -3.8% | -17.9% |
资本支出强度CVGIFOR
| Q4 25 | 2.3% | 0.0% | ||
| Q3 25 | 1.2% | 0.1% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 2.2% | 0.2% | ||
| Q4 24 | 2.4% | 0.0% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 3.2% | 0.2% | ||
| Q1 24 | 2.6% | 0.2% |
现金转化率CVGIFOR
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | -1.79× | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | -0.80× | -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
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
