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CASELLA WASTE SYSTEMS INC（CWST）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
CASELLA WASTE SYSTEMS INC的季度营收约是Forestar Group Inc.的2.0倍（$557.2M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -1.0%，领先6.6%），CASELLA WASTE SYSTEMS INC同比增速更快（9.6% vs 9.0%），CASELLA WASTE SYSTEMS INC自由现金流更多（$30.7M vs $-157.1M），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（21.5% vs -9.6%）
Casella Waste Systems Inc.是总部位于美国佛蒙特州拉特兰的废弃物管理企业，1975年创立时仅靠一辆卡车起步，现为区域型垂直一体化固体废物服务提供商，面向住宅、商业、市政及工业客户提供固废收集处置、中转、回收、有机废弃物处理等专业资源管理服务。
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。
CWST vs FOR — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $557.2M | $273.0M |
| 净利润 | $-5.5M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | 0.9% | 7.6% |
| 净利率 | -1.0% | 5.6% |
| 营收同比 | 9.6% | 9.0% |
| 净利润同比 | -15.2% | -6.7% |
| 每股收益（稀释后） | $-0.09 | $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
| Q1 26 | $557.2M | — | ||
| Q4 25 | $469.1M | $273.0M | ||
| Q3 25 | $485.4M | $670.5M | ||
| Q2 25 | $465.3M | $390.5M | ||
| Q1 25 | $417.1M | $351.0M | ||
| Q4 24 | $427.5M | $250.4M | ||
| Q3 24 | $411.6M | $551.3M | ||
| Q2 24 | $377.2M | $318.4M |
| Q1 26 | $-5.5M | — | ||
| Q4 25 | $-2.5M | $15.4M | ||
| Q3 25 | $10.0M | $86.9M | ||
| Q2 25 | $5.2M | $32.9M | ||
| Q1 25 | $-4.8M | $31.6M | ||
| Q4 24 | $4.9M | $16.5M | ||
| Q3 24 | $5.8M | $81.5M | ||
| Q2 24 | $7.0M | $38.7M |
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | 20.1% | ||
| Q3 25 | 35.0% | 22.3% | ||
| Q2 25 | 33.8% | 20.4% | ||
| Q1 25 | 32.8% | 22.6% | ||
| Q4 24 | 33.2% | 22.0% | ||
| Q3 24 | 35.1% | 23.9% | ||
| Q2 24 | 35.4% | 22.5% |
| Q1 26 | 0.9% | — | ||
| Q4 25 | 2.5% | 7.6% | ||
| Q3 25 | 6.1% | 16.9% | ||
| Q2 25 | 4.1% | 11.2% | ||
| Q1 25 | 0.8% | 11.6% | ||
| Q4 24 | 4.3% | 8.7% | ||
| Q3 24 | 5.9% | 19.7% | ||
| Q2 24 | 6.1% | 16.2% |
| Q1 26 | -1.0% | — | ||
| Q4 25 | -0.5% | 5.6% | ||
| Q3 25 | 2.1% | 13.0% | ||
| Q2 25 | 1.1% | 8.4% | ||
| Q1 25 | -1.2% | 9.0% | ||
| Q4 24 | 1.1% | 6.6% | ||
| Q3 24 | 1.4% | 14.8% | ||
| Q2 24 | 1.9% | 12.2% |
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $-0.04 | $0.30 | ||
| Q3 25 | $0.16 | $1.70 | ||
| Q2 25 | $0.08 | $0.65 | ||
| Q1 25 | $-0.08 | $0.62 | ||
| Q4 24 | $0.08 | $0.32 | ||
| Q3 24 | $0.10 | $1.59 | ||
| Q2 24 | $0.12 | $0.76 |
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 | $126.9M | $211.7M |
| 总债务越低越好 | — | $793.2M |
| 股东权益账面价值 | $1.6B | $1.8B |
| 总资产 | $3.3B | $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
| Q1 26 | $126.9M | — | ||
| Q4 25 | $123.8M | $211.7M | ||
| Q3 25 | $192.7M | $379.2M | ||
| Q2 25 | $217.8M | $189.2M | ||
| Q1 25 | $267.7M | $174.3M | ||
| Q4 24 | $358.3M | $132.0M | ||
| Q3 24 | $519.0M | $481.2M | ||
| Q2 24 | $208.5M | $359.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $793.2M | ||
| Q3 25 | $1.1B | $802.7M | ||
| Q2 25 | $1.1B | $872.8M | ||
| Q1 25 | $1.1B | $872.5M | ||
| Q4 24 | $1.1B | $806.8M | ||
| Q3 24 | $1.0B | $706.4M | ||
| Q2 24 | $976.6M | $706.1M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | $1.8B | ||
| Q2 25 | $1.6B | $1.7B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.0B | $1.5B |
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.3B | $3.2B | ||
| Q3 25 | $3.3B | $3.1B | ||
| Q2 25 | $3.3B | $3.1B | ||
| Q1 25 | $3.2B | $3.0B | ||
| Q4 24 | $3.2B | $3.0B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $2.5B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 0.44× | ||
| Q3 25 | 0.72× | 0.45× | ||
| Q2 25 | 0.72× | 0.52× | ||
| Q1 25 | 0.72× | 0.53× | ||
| Q4 24 | 0.70× | 0.50× | ||
| Q3 24 | 0.68× | 0.44× | ||
| Q2 24 | 0.94× | 0.47× |
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 | $62.3M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $30.7M | $-157.1M |
| 自由现金流率自由现金流/营收 | 5.5% | -57.5% |
| 资本支出强度资本支出/营收 | 9.0% | 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 | $120.7M | $93.0M |
8季度趋势，按日历期对齐
| Q1 26 | $62.3M | — | ||
| Q4 25 | $96.6M | $-157.0M | ||
| Q3 25 | $93.6M | $256.3M | ||
| Q2 25 | $89.5M | $15.8M | ||
| Q1 25 | $50.1M | $-19.8M | ||
| Q4 24 | $109.8M | $-450.0M | ||
| Q3 24 | $91.8M | $119.2M | ||
| Q2 24 | $72.1M | $-61.7M |
| Q1 26 | $30.7M | — | ||
| Q4 25 | $39.3M | $-157.1M | ||
| Q3 25 | $27.6M | $255.6M | ||
| Q2 25 | $23.1M | $15.0M | ||
| Q1 25 | $-5.4M | $-20.5M | ||
| Q4 24 | $32.9M | — | ||
| Q3 24 | $40.4M | $118.4M | ||
| Q2 24 | $27.5M | $-62.3M |
| Q1 26 | 5.5% | — | ||
| Q4 25 | 8.4% | -57.5% | ||
| Q3 25 | 5.7% | 38.1% | ||
| Q2 25 | 5.0% | 3.8% | ||
| Q1 25 | -1.3% | -5.8% | ||
| Q4 24 | 7.7% | — | ||
| Q3 24 | 9.8% | 21.5% | ||
| Q2 24 | 7.3% | -19.6% |
| Q1 26 | 9.0% | — | ||
| Q4 25 | 12.2% | 0.0% | ||
| Q3 25 | 13.6% | 0.1% | ||
| Q2 25 | 14.3% | 0.2% | ||
| Q1 25 | 13.3% | 0.2% | ||
| Q4 24 | 18.0% | 0.0% | ||
| Q3 24 | 12.5% | 0.1% | ||
| Q2 24 | 11.8% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | -10.19× | ||
| Q3 25 | 9.37× | 2.95× | ||
| Q2 25 | 17.19× | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | 22.51× | -27.27× | ||
| Q3 24 | 15.91× | 1.46× | ||
| Q2 24 | 10.29× | -1.59× |
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
CWST
| Collection | $334.8M | 60% |
| Transfer station | $65.9M | 12% |
| Processing (ii) | $49.0M | 9% |
| Landfill | $48.0M | 9% |
| National Accounts (ii) | $45.6M | 8% |
| Transportation | $8.2M | 1% |
| Landfill gas-to-energy | $2.9M | 1% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
