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EPR PROPERTIES（EPR）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EPR PROPERTIES的1.5倍（$273.0M vs $182.9M），EPR PROPERTIES净利率更高（36.6% vs 5.6%，领先30.9%），Forestar Group Inc.同比增速更快（9.0% vs 3.2%），EPR PROPERTIES自由现金流更多（$269.2M vs $-157.1M），过去两年EPR PROPERTIES的营收复合增速更高（4.6% vs -9.6%）
EPR地产（前身为娱乐地产信托）是总部位于美国密苏里州堪萨斯城的房地产投资信托企业，专注投资游乐园、电影院、滑雪度假村等娱乐类地产项目，截至2022年共持有353处物业。
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。
EPR vs FOR — 直观对比
营收规模更大
FOR
是对方的1.5倍
$182.9M
营收增速更快
FOR
高出5.8%
3.2%
净利率更高
EPR
高出30.9%
5.6%
自由现金流更多
EPR
多$426.3M
$-157.1M
两年增速更快
EPR
近两年复合增速
-9.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $182.9M | $273.0M |
| 净利润 | $66.9M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | 56.8% | 7.6% |
| 净利率 | 36.6% | 5.6% |
| 营收同比 | 3.2% | 9.0% |
| 净利润同比 | 897.0% | -6.7% |
| 每股收益（稀释后） | $0.80 | $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EPRFOR
| Q4 25 | $182.9M | $273.0M | ||
| Q3 25 | $182.3M | $670.5M | ||
| Q2 25 | $178.1M | $390.5M | ||
| Q1 25 | $175.0M | $351.0M | ||
| Q4 24 | $177.2M | $250.4M | ||
| Q3 24 | $180.5M | $551.3M | ||
| Q2 24 | $173.1M | $318.4M | ||
| Q1 24 | $167.2M | $333.8M |
净利润EPRFOR
| Q4 25 | $66.9M | $15.4M | ||
| Q3 25 | $66.6M | $86.9M | ||
| Q2 25 | $75.6M | $32.9M | ||
| Q1 25 | $65.8M | $31.6M | ||
| Q4 24 | $-8.4M | $16.5M | ||
| Q3 24 | $46.6M | $81.5M | ||
| Q2 24 | $45.1M | $38.7M | ||
| Q1 24 | $62.7M | $45.0M |
毛利率EPRFOR
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
营业利润率EPRFOR
| Q4 25 | 56.8% | 7.6% | ||
| Q3 25 | 53.5% | 16.9% | ||
| Q2 25 | 62.5% | 11.2% | ||
| Q1 25 | 58.1% | 11.6% | ||
| Q4 24 | 25.5% | 8.7% | ||
| Q3 24 | 51.4% | 19.7% | ||
| Q2 24 | 45.9% | 16.2% | ||
| Q1 24 | 58.8% | 17.6% |
净利率EPRFOR
| Q4 25 | 36.6% | 5.6% | ||
| Q3 25 | 36.5% | 13.0% | ||
| Q2 25 | 42.5% | 8.4% | ||
| Q1 25 | 37.6% | 9.0% | ||
| Q4 24 | -4.7% | 6.6% | ||
| Q3 24 | 25.8% | 14.8% | ||
| Q2 24 | 26.1% | 12.2% | ||
| Q1 24 | 37.5% | 13.5% |
每股收益（稀释后）EPRFOR
| Q4 25 | $0.80 | $0.30 | ||
| Q3 25 | $0.79 | $1.70 | ||
| Q2 25 | $0.91 | $0.65 | ||
| Q1 25 | $0.78 | $0.62 | ||
| Q4 24 | $-0.19 | $0.32 | ||
| Q3 24 | $0.53 | $1.59 | ||
| Q2 24 | $0.51 | $0.76 | ||
| Q1 24 | $0.75 | $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 | $90.6M | $211.7M |
| 总债务越低越好 | $2.9B | $793.2M |
| 股东权益账面价值 | $2.3B | $1.8B |
| 总资产 | $5.7B | $3.2B |
| 负债/权益比越低杠杆越低 | 1.26× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资EPRFOR
| Q4 25 | $90.6M | $211.7M | ||
| Q3 25 | $13.7M | $379.2M | ||
| Q2 25 | $13.0M | $189.2M | ||
| Q1 25 | $20.6M | $174.3M | ||
| Q4 24 | $22.1M | $132.0M | ||
| Q3 24 | $35.3M | $481.2M | ||
| Q2 24 | $33.7M | $359.2M | ||
| Q1 24 | $59.5M | $416.2M |
总债务EPRFOR
| Q4 25 | $2.9B | $793.2M | ||
| Q3 25 | $2.8B | $802.7M | ||
| Q2 25 | $2.8B | $872.8M | ||
| Q1 25 | $2.8B | $872.5M | ||
| Q4 24 | $2.9B | $806.8M | ||
| Q3 24 | $2.9B | $706.4M | ||
| Q2 24 | $2.8B | $706.1M | ||
| Q1 24 | $2.8B | $705.7M |
股东权益EPRFOR
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $2.3B | $1.8B | ||
| Q2 25 | $2.3B | $1.7B | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | $2.3B | $1.6B | ||
| Q3 24 | $2.4B | $1.6B | ||
| Q2 24 | $2.4B | $1.5B | ||
| Q1 24 | $2.4B | $1.5B |
总资产EPRFOR
| Q4 25 | $5.7B | $3.2B | ||
| Q3 25 | $5.5B | $3.1B | ||
| Q2 25 | $5.6B | $3.1B | ||
| Q1 25 | $5.5B | $3.0B | ||
| Q4 24 | $5.6B | $3.0B | ||
| Q3 24 | $5.7B | $2.8B | ||
| Q2 24 | $5.6B | $2.7B | ||
| Q1 24 | $5.7B | $2.6B |
负债/权益比EPRFOR
| Q4 25 | 1.26× | 0.44× | ||
| Q3 25 | 1.19× | 0.45× | ||
| Q2 25 | 1.20× | 0.52× | ||
| Q1 25 | 1.20× | 0.53× | ||
| Q4 24 | 1.23× | 0.50× | ||
| Q3 24 | 1.19× | 0.44× | ||
| Q2 24 | 1.16× | 0.47× | ||
| Q1 24 | 1.15× | 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 | $421.0M | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $269.2M | $-157.1M |
| 自由现金流率自由现金流/营收 | 147.1% | -57.5% |
| 资本支出强度资本支出/营收 | 82.9% | 0.0% |
| 现金转化率经营现金流/净利润 | 6.29× | -10.19× |
| 过去12个月自由现金流最近4个季度 | $568.5M | $93.0M |
8季度趋势，按日历期对齐
经营现金流EPRFOR
| Q4 25 | $421.0M | $-157.0M | ||
| Q3 25 | $136.5M | $256.3M | ||
| Q2 25 | $87.3M | $15.8M | ||
| Q1 25 | $99.4M | $-19.8M | ||
| Q4 24 | $393.1M | $-450.0M | ||
| Q3 24 | $122.0M | $119.2M | ||
| Q2 24 | $78.7M | $-61.7M | ||
| Q1 24 | $99.5M | $-59.2M |
自由现金流EPRFOR
| Q4 25 | $269.2M | $-157.1M | ||
| Q3 25 | $132.1M | $255.6M | ||
| Q2 25 | $82.4M | $15.0M | ||
| Q1 25 | $84.7M | $-20.5M | ||
| Q4 24 | $129.2M | — | ||
| Q3 24 | $121.5M | $118.4M | ||
| Q2 24 | $71.3M | $-62.3M | ||
| Q1 24 | $65.0M | $-59.8M |
自由现金流率EPRFOR
| Q4 25 | 147.1% | -57.5% | ||
| Q3 25 | 72.5% | 38.1% | ||
| Q2 25 | 46.3% | 3.8% | ||
| Q1 25 | 48.4% | -5.8% | ||
| Q4 24 | 72.9% | — | ||
| Q3 24 | 67.3% | 21.5% | ||
| Q2 24 | 41.2% | -19.6% | ||
| Q1 24 | 38.9% | -17.9% |
资本支出强度EPRFOR
| Q4 25 | 82.9% | 0.0% | ||
| Q3 25 | 2.4% | 0.1% | ||
| Q2 25 | 2.7% | 0.2% | ||
| Q1 25 | 8.4% | 0.2% | ||
| Q4 24 | 148.9% | 0.0% | ||
| Q3 24 | 0.3% | 0.1% | ||
| Q2 24 | 4.2% | 0.2% | ||
| Q1 24 | 20.6% | 0.2% |
现金转化率EPRFOR
| Q4 25 | 6.29× | -10.19× | ||
| Q3 25 | 2.05× | 2.95× | ||
| Q2 25 | 1.15× | 0.48× | ||
| Q1 25 | 1.51× | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | 2.62× | 1.46× | ||
| Q2 24 | 1.74× | -1.59× | ||
| Q1 24 | 1.59× | -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
EPR
| Experiential Reportable Operating Segment | $173.3M | 95% |
| Education Reportable Operating Segment | $9.5M | 5% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
