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dLocal Ltd（DLO）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
dLocal Ltd的季度营收约是Forestar Group Inc.的1.2倍（$337.9M vs $273.0M），dLocal Ltd净利率更高（16.5% vs 5.6%，领先10.8%），dLocal Ltd同比增速更快（65.2% vs 9.0%），dLocal Ltd自由现金流更多（$99.8M vs $-157.1M）
dLocal是一家总部位于乌拉圭的金融科技企业，专注于提供跨境支付解决方案，搭建全球商户与新兴市场之间的支付链路，助力国际商户顺畅接入新兴市场本地支付网络，高效开展跨境业务。
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。
DLO vs FOR — 直观对比
营收规模更大
DLO
是对方的1.2倍
$273.0M
营收增速更快
DLO
高出56.2%
9.0%
净利率更高
DLO
高出10.8%
5.6%
自由现金流更多
DLO
多$256.9M
$-157.1M
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $337.9M | $273.0M |
| 净利润 | $55.6M | $15.4M |
| 毛利率 | 34.3% | 20.1% |
| 营业利润率 | 18.6% | 7.6% |
| 净利率 | 16.5% | 5.6% |
| 营收同比 | 65.2% | 9.0% |
| 净利润同比 | 87.3% | -6.7% |
| 每股收益（稀释后） | $0.18 | $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DLOFOR
| Q4 25 | $337.9M | $273.0M | ||
| Q3 25 | $282.5M | $670.5M | ||
| Q2 25 | — | $390.5M | ||
| Q1 25 | — | $351.0M | ||
| Q4 24 | $204.5M | $250.4M | ||
| Q3 24 | $185.8M | $551.3M | ||
| Q2 24 | — | $318.4M | ||
| Q1 24 | — | $333.8M |
净利润DLOFOR
| Q4 25 | $55.6M | $15.4M | ||
| Q3 25 | $141.3M | $86.9M | ||
| Q2 25 | — | $32.9M | ||
| Q1 25 | — | $31.6M | ||
| Q4 24 | $29.7M | $16.5M | ||
| Q3 24 | $90.8M | $81.5M | ||
| Q2 24 | — | $38.7M | ||
| Q1 24 | — | $45.0M |
毛利率DLOFOR
| Q4 25 | 34.3% | 20.1% | ||
| Q3 25 | 36.5% | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | 40.9% | 22.0% | ||
| Q3 24 | 42.1% | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
营业利润率DLOFOR
| Q4 25 | 18.6% | 7.6% | ||
| Q3 25 | 19.7% | 16.9% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | 20.7% | 8.7% | ||
| Q3 24 | 22.1% | 19.7% | ||
| Q2 24 | — | 16.2% | ||
| Q1 24 | — | 17.6% |
净利率DLOFOR
| Q4 25 | 16.5% | 5.6% | ||
| Q3 25 | 50.0% | 13.0% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | 14.5% | 6.6% | ||
| Q3 24 | 48.9% | 14.8% | ||
| Q2 24 | — | 12.2% | ||
| Q1 24 | — | 13.5% |
每股收益（稀释后）DLOFOR
| Q4 25 | $0.18 | $0.30 | ||
| Q3 25 | $0.17 | $1.70 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | $0.09 | $0.32 | ||
| Q3 24 | $0.09 | $1.59 | ||
| Q2 24 | — | $0.76 | ||
| Q1 24 | — | $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 | $719.9M | $211.7M |
| 总债务越低越好 | $86.7M | $793.2M |
| 股东权益账面价值 | $569.4M | $1.8B |
| 总资产 | $1.5B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资DLOFOR
| Q4 25 | $719.9M | $211.7M | ||
| Q3 25 | $604.5M | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | $425.2M | $132.0M | ||
| Q3 24 | $560.5M | $481.2M | ||
| Q2 24 | — | $359.2M | ||
| Q1 24 | — | $416.2M |
总债务DLOFOR
| Q4 25 | $86.7M | $793.2M | ||
| Q3 25 | $63.1M | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | $39.8M | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
股东权益DLOFOR
| Q4 25 | $569.4M | $1.8B | ||
| Q3 25 | $504.7M | $1.8B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $489.0M | $1.6B | ||
| Q3 24 | $457.0M | $1.6B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
总资产DLOFOR
| Q4 25 | $1.5B | $3.2B | ||
| Q3 25 | $1.4B | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $1.2B | $3.0B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.6B |
负债/权益比DLOFOR
| Q4 25 | 0.15× | 0.44× | ||
| Q3 25 | 0.12× | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 0.08× | 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 | $100.4M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $99.8M | $-157.1M |
| 自由现金流率自由现金流/营收 | 29.5% | -57.5% |
| 资本支出强度资本支出/营收 | 0.2% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.80× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $378.7M | $93.0M |
8季度趋势，按日历期对齐
经营现金流DLOFOR
| Q4 25 | $100.4M | $-157.0M | ||
| Q3 25 | $315.0M | $256.3M | ||
| Q2 25 | — | $15.8M | ||
| Q1 25 | — | $-19.8M | ||
| Q4 24 | $-141.1M | $-450.0M | ||
| Q3 24 | $108.3M | $119.2M | ||
| Q2 24 | — | $-61.7M | ||
| Q1 24 | — | $-59.2M |
自由现金流DLOFOR
| Q4 25 | $99.8M | $-157.1M | ||
| Q3 25 | $313.4M | $255.6M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $-20.5M | ||
| Q4 24 | $-141.6M | — | ||
| Q3 24 | $107.1M | $118.4M | ||
| Q2 24 | — | $-62.3M | ||
| Q1 24 | — | $-59.8M |
自由现金流率DLOFOR
| Q4 25 | 29.5% | -57.5% | ||
| Q3 25 | 110.9% | 38.1% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | -69.2% | — | ||
| Q3 24 | 57.6% | 21.5% | ||
| Q2 24 | — | -19.6% | ||
| Q1 24 | — | -17.9% |
资本支出强度DLOFOR
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 0.6% | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.2% |
现金转化率DLOFOR
| Q4 25 | 1.80× | -10.19× | ||
| Q3 25 | 2.23× | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | -4.75× | -27.27× | ||
| Q3 24 | 1.19× | 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
DLO
暂无分部数据
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
