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Ecovyst Inc.（ECVT）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Ecovyst Inc.的1.4倍（$273.0M vs $199.4M），Ecovyst Inc.同比增速更快（34.0% vs 9.0%），Ecovyst Inc.自由现金流更多（$22.9M vs $-157.1M），过去两年Ecovyst Inc.的营收复合增速更高（18.7% vs -9.6%）
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
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。
ECVT vs FOR — 直观对比
营收规模更大
FOR
是对方的1.4倍
$199.4M
营收增速更快
ECVT
高出24.9%
9.0%
自由现金流更多
ECVT
多$180.0M
$-157.1M
两年增速更快
ECVT
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $273.0M |
| 净利润 | — | $15.4M |
| 毛利率 | 23.4% | 20.1% |
| 营业利润率 | 10.9% | 7.6% |
| 净利率 | — | 5.6% |
| 营收同比 | 34.0% | 9.0% |
| 净利润同比 | — | -6.7% |
| 每股收益（稀释后） | $0.06 | $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ECVTFOR
| Q4 25 | $199.4M | $273.0M | ||
| Q3 25 | $204.9M | $670.5M | ||
| Q2 25 | $176.1M | $390.5M | ||
| Q1 25 | $143.1M | $351.0M | ||
| Q4 24 | $148.9M | $250.4M | ||
| Q3 24 | $153.9M | $551.3M | ||
| Q2 24 | $154.0M | $318.4M | ||
| Q1 24 | $141.6M | $333.8M |
净利润ECVTFOR
| Q4 25 | — | $15.4M | ||
| Q3 25 | $-79.3M | $86.9M | ||
| Q2 25 | $6.0M | $32.9M | ||
| Q1 25 | $-3.6M | $31.6M | ||
| Q4 24 | — | $16.5M | ||
| Q3 24 | $14.3M | $81.5M | ||
| Q2 24 | $8.3M | $38.7M | ||
| Q1 24 | $1.2M | $45.0M |
毛利率ECVTFOR
| Q4 25 | 23.4% | 20.1% | ||
| Q3 25 | 25.4% | 22.3% | ||
| Q2 25 | 22.8% | 20.4% | ||
| Q1 25 | 13.3% | 22.6% | ||
| Q4 24 | 28.9% | 22.0% | ||
| Q3 24 | 29.3% | 23.9% | ||
| Q2 24 | 27.3% | 22.5% | ||
| Q1 24 | 23.5% | 24.9% |
营业利润率ECVTFOR
| Q4 25 | 10.9% | 7.6% | ||
| Q3 25 | 13.8% | 16.9% | ||
| Q2 25 | 9.0% | 11.2% | ||
| Q1 25 | -0.7% | 11.6% | ||
| Q4 24 | 15.1% | 8.7% | ||
| Q3 24 | 17.9% | 19.7% | ||
| Q2 24 | 14.1% | 16.2% | ||
| Q1 24 | 9.5% | 17.6% |
净利率ECVTFOR
| Q4 25 | — | 5.6% | ||
| Q3 25 | -38.7% | 13.0% | ||
| Q2 25 | 3.4% | 8.4% | ||
| Q1 25 | -2.5% | 9.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 9.3% | 14.8% | ||
| Q2 24 | 5.4% | 12.2% | ||
| Q1 24 | 0.9% | 13.5% |
每股收益（稀释后）ECVTFOR
| Q4 25 | $0.06 | $0.30 | ||
| Q3 25 | $-0.69 | $1.70 | ||
| Q2 25 | $0.05 | $0.65 | ||
| Q1 25 | $-0.03 | $0.62 | ||
| Q4 24 | $-0.26 | $0.32 | ||
| Q3 24 | $0.12 | $1.59 | ||
| Q2 24 | $0.07 | $0.76 | ||
| Q1 24 | $0.01 | $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 | $197.2M | $211.7M |
| 总债务越低越好 | $392.6M | $793.2M |
| 股东权益账面价值 | $603.4M | $1.8B |
| 总资产 | $1.3B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.65× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资ECVTFOR
| Q4 25 | $197.2M | $211.7M | ||
| Q3 25 | $82.0M | $379.2M | ||
| Q2 25 | $69.6M | $189.2M | ||
| Q1 25 | $127.5M | $174.3M | ||
| Q4 24 | $131.4M | $132.0M | ||
| Q3 24 | $123.5M | $481.2M | ||
| Q2 24 | $83.3M | $359.2M | ||
| Q1 24 | $103.1M | $416.2M |
总债务ECVTFOR
| Q4 25 | $392.6M | $793.2M | ||
| Q3 25 | $854.8M | $802.7M | ||
| Q2 25 | $856.6M | $872.8M | ||
| Q1 25 | $859.0M | $872.5M | ||
| Q4 24 | $860.8M | $806.8M | ||
| Q3 24 | $862.7M | $706.4M | ||
| Q2 24 | $862.4M | $706.1M | ||
| Q1 24 | $866.2M | $705.7M |
股东权益ECVTFOR
| Q4 25 | $603.4M | $1.8B | ||
| Q3 25 | $607.9M | $1.8B | ||
| Q2 25 | $692.4M | $1.7B | ||
| Q1 25 | $698.7M | $1.6B | ||
| Q4 24 | $700.5M | $1.6B | ||
| Q3 24 | $729.4M | $1.6B | ||
| Q2 24 | $717.3M | $1.5B | ||
| Q1 24 | $711.4M | $1.5B |
总资产ECVTFOR
| Q4 25 | $1.3B | $3.2B | ||
| Q3 25 | $1.7B | $3.1B | ||
| Q2 25 | $1.8B | $3.1B | ||
| Q1 25 | $1.8B | $3.0B | ||
| Q4 24 | $1.8B | $3.0B | ||
| Q3 24 | $1.8B | $2.8B | ||
| Q2 24 | $1.8B | $2.7B | ||
| Q1 24 | $1.8B | $2.6B |
负债/权益比ECVTFOR
| Q4 25 | 0.65× | 0.44× | ||
| Q3 25 | 1.41× | 0.45× | ||
| Q2 25 | 1.24× | 0.52× | ||
| Q1 25 | 1.23× | 0.53× | ||
| Q4 24 | 1.23× | 0.50× | ||
| Q3 24 | 1.18× | 0.44× | ||
| Q2 24 | 1.20× | 0.47× | ||
| Q1 24 | 1.22× | 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 | $41.8M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $22.9M | $-157.1M |
| 自由现金流率自由现金流/营收 | 11.5% | -57.5% |
| 资本支出强度资本支出/营收 | 9.4% | 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 | $69.9M | $93.0M |
8季度趋势，按日历期对齐
经营现金流ECVTFOR
| Q4 25 | $41.8M | $-157.0M | ||
| Q3 25 | $55.3M | $256.3M | ||
| Q2 25 | $33.0M | $15.8M | ||
| Q1 25 | $10.3M | $-19.8M | ||
| Q4 24 | $43.5M | $-450.0M | ||
| Q3 24 | $59.9M | $119.2M | ||
| Q2 24 | $10.0M | $-61.7M | ||
| Q1 24 | $36.5M | $-59.2M |
自由现金流ECVTFOR
| Q4 25 | $22.9M | $-157.1M | ||
| Q3 25 | $53.2M | $255.6M | ||
| Q2 25 | $7.8M | $15.0M | ||
| Q1 25 | $-14.0M | $-20.5M | ||
| Q4 24 | $30.9M | — | ||
| Q3 24 | $53.6M | $118.4M | ||
| Q2 24 | $-9.3M | $-62.3M | ||
| Q1 24 | $19.1M | $-59.8M |
自由现金流率ECVTFOR
| Q4 25 | 11.5% | -57.5% | ||
| Q3 25 | 26.0% | 38.1% | ||
| Q2 25 | 4.4% | 3.8% | ||
| Q1 25 | -9.8% | -5.8% | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 34.9% | 21.5% | ||
| Q2 24 | -6.1% | -19.6% | ||
| Q1 24 | 13.5% | -17.9% |
资本支出强度ECVTFOR
| Q4 25 | 9.4% | 0.0% | ||
| Q3 25 | 1.0% | 0.1% | ||
| Q2 25 | 14.4% | 0.2% | ||
| Q1 25 | 16.9% | 0.2% | ||
| Q4 24 | 8.5% | 0.0% | ||
| Q3 24 | 4.1% | 0.1% | ||
| Q2 24 | 12.5% | 0.2% | ||
| Q1 24 | 12.3% | 0.2% |
现金转化率ECVTFOR
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | 5.52× | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | 4.21× | 1.46× | ||
| Q2 24 | 1.20× | -1.59× | ||
| Q1 24 | 29.90× | -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
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
