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FIRST HAWAIIAN, INC.（FHB）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FIRST HAWAIIAN, INC.的1.2倍（$273.0M vs $220.3M），FIRST HAWAIIAN, INC.净利率更高（30.8% vs 5.6%，领先25.1%），过去两年FIRST HAWAIIAN, INC.的营收复合增速更高（3.8% vs -9.6%）
第一夏威夷公司是总部位于夏威夷檀香山的银行控股企业，核心子公司第一夏威夷银行成立于1858年，是夏威夷历史最悠久、规模最大的金融机构，总部设在檀香山第一夏威夷中心。该行在夏威夷设有57家分支机构，关岛有3家，塞班岛有1家，为个人及商业客户提供存款、贷款、财富管理、保险、私人银行等多元金融服务。
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。
FHB vs FOR — 直观对比
营收规模更大
FOR
是对方的1.2倍
$220.3M
净利率更高
FHB
高出25.1%
5.6%
两年增速更快
FHB
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $220.3M | $273.0M |
| 净利润 | $67.8M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | — | 7.6% |
| 净利率 | 30.8% | 5.6% |
| 营收同比 | — | 9.0% |
| 净利润同比 | 14.4% | -6.7% |
| 每股收益（稀释后） | $0.55 | $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FHBFOR
| Q1 26 | $220.3M | — | ||
| Q4 25 | $225.9M | $273.0M | ||
| Q3 25 | $226.4M | $670.5M | ||
| Q2 25 | $217.5M | $390.5M | ||
| Q1 25 | $211.0M | $351.0M | ||
| Q4 24 | $188.1M | $250.4M | ||
| Q3 24 | $210.0M | $551.3M | ||
| Q2 24 | $204.6M | $318.4M |
净利润FHBFOR
| Q1 26 | $67.8M | — | ||
| Q4 25 | $69.9M | $15.4M | ||
| Q3 25 | $73.8M | $86.9M | ||
| Q2 25 | $73.2M | $32.9M | ||
| Q1 25 | $59.2M | $31.6M | ||
| Q4 24 | $52.5M | $16.5M | ||
| Q3 24 | $61.5M | $81.5M | ||
| Q2 24 | $61.9M | $38.7M |
毛利率FHBFOR
| Q1 26 | — | — | ||
| 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% |
营业利润率FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | 41.2% | 7.6% | ||
| Q3 25 | 42.5% | 16.9% | ||
| Q2 25 | 40.5% | 11.2% | ||
| Q1 25 | 36.5% | 11.6% | ||
| Q4 24 | 34.4% | 8.7% | ||
| Q3 24 | 36.4% | 19.7% | ||
| Q2 24 | 39.5% | 16.2% |
净利率FHBFOR
| Q1 26 | 30.8% | — | ||
| Q4 25 | 31.0% | 5.6% | ||
| Q3 25 | 32.6% | 13.0% | ||
| Q2 25 | 33.7% | 8.4% | ||
| Q1 25 | 28.1% | 9.0% | ||
| Q4 24 | 27.9% | 6.6% | ||
| Q3 24 | 29.3% | 14.8% | ||
| Q2 24 | 30.3% | 12.2% |
每股收益（稀释后）FHBFOR
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.56 | $0.30 | ||
| Q3 25 | $0.59 | $1.70 | ||
| Q2 25 | $0.58 | $0.65 | ||
| Q1 25 | $0.47 | $0.62 | ||
| Q4 24 | $0.41 | $0.32 | ||
| Q3 24 | $0.48 | $1.59 | ||
| Q2 24 | $0.48 | $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 | — | $211.7M |
| 总债务越低越好 | $0 | $793.2M |
| 股东权益账面价值 | $2.8B | $1.8B |
| 总资产 | $24.3B | $3.2B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资FHBFOR
| Q1 26 | — | — | ||
| 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 |
总债务FHBFOR
| Q1 26 | $0 | — | ||
| Q4 25 | — | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M |
股东权益FHBFOR
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.8B | $1.8B | ||
| Q3 25 | $2.7B | $1.8B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.6B | $1.6B | ||
| Q4 24 | $2.6B | $1.6B | ||
| Q3 24 | $2.6B | $1.6B | ||
| Q2 24 | $2.6B | $1.5B |
总资产FHBFOR
| Q1 26 | $24.3B | — | ||
| Q4 25 | $24.0B | $3.2B | ||
| Q3 25 | $24.1B | $3.1B | ||
| Q2 25 | $23.8B | $3.1B | ||
| Q1 25 | $23.7B | $3.0B | ||
| Q4 24 | $23.8B | $3.0B | ||
| Q3 24 | $23.8B | $2.8B | ||
| Q2 24 | $24.0B | $2.7B |
负债/权益比FHBFOR
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 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 | — | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-157.1M |
| 自由现金流率自由现金流/营收 | — | -57.5% |
| 资本支出强度资本支出/营收 | — | 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 | — | $93.0M |
8季度趋势，按日历期对齐
经营现金流FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | $335.1M | $-157.0M | ||
| Q3 25 | $57.1M | $256.3M | ||
| Q2 25 | $136.4M | $15.8M | ||
| Q1 25 | $36.7M | $-19.8M | ||
| Q4 24 | $317.5M | $-450.0M | ||
| Q3 24 | $58.9M | $119.2M | ||
| Q2 24 | $78.2M | $-61.7M |
自由现金流FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | $303.3M | $-157.1M | ||
| Q3 25 | $49.5M | $255.6M | ||
| Q2 25 | $125.2M | $15.0M | ||
| Q1 25 | $28.6M | $-20.5M | ||
| Q4 24 | $288.7M | — | ||
| Q3 24 | $52.3M | $118.4M | ||
| Q2 24 | $72.2M | $-62.3M |
自由现金流率FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | 134.3% | -57.5% | ||
| Q3 25 | 21.9% | 38.1% | ||
| Q2 25 | 57.5% | 3.8% | ||
| Q1 25 | 13.6% | -5.8% | ||
| Q4 24 | 153.5% | — | ||
| Q3 24 | 24.9% | 21.5% | ||
| Q2 24 | 35.3% | -19.6% |
资本支出强度FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | 14.1% | 0.0% | ||
| Q3 25 | 3.3% | 0.1% | ||
| Q2 25 | 5.2% | 0.2% | ||
| Q1 25 | 3.8% | 0.2% | ||
| Q4 24 | 15.3% | 0.0% | ||
| Q3 24 | 3.1% | 0.1% | ||
| Q2 24 | 2.9% | 0.2% |
现金转化率FHBFOR
| Q1 26 | — | — | ||
| Q4 25 | 4.79× | -10.19× | ||
| Q3 25 | 0.77× | 2.95× | ||
| Q2 25 | 1.86× | 0.48× | ||
| Q1 25 | 0.62× | -0.63× | ||
| Q4 24 | 6.05× | -27.27× | ||
| Q3 24 | 0.96× | 1.46× | ||
| Q2 24 | 1.26× | -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
FHB
| Net Interest Income | $167.5M | 76% |
| Noninterest Income | $52.8M | 24% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
