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Forestar Group Inc.（FOR）与GigaCloud Technology Inc（GCT）财务数据对比。点击上方公司名可切换其他公司
GigaCloud Technology Inc的季度营收约是Forestar Group Inc.的1.2倍（$332.6M vs $273.0M），GigaCloud Technology Inc净利率更高（11.2% vs 5.6%，领先5.5%），GigaCloud Technology Inc同比增速更快（9.7% vs 9.0%），GigaCloud Technology Inc自由现金流更多（$77.1M vs $-157.1M），过去两年GigaCloud Technology Inc的营收复合增速更高（36.6% vs -9.6%）
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。
GigaCloud Technology Inc是一家美国电商企业，主打家具、家电、健身器材等体积较大、规格不统一商品的B2B交易，旗下拥有线上B2B交易平台，业务覆盖撮合交易、全程物流直至终端配送环节。公司总部位于加利福尼亚州埃尔蒙特，自2022年8月起在纳斯达克挂牌上市。
FOR vs GCT — 直观对比
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $332.6M |
| 净利润 | $15.4M | $37.2M |
| 毛利率 | 20.1% | 23.2% |
| 营业利润率 | 7.6% | 12.2% |
| 净利率 | 5.6% | 11.2% |
| 营收同比 | 9.0% | 9.7% |
| 净利润同比 | -6.7% | -8.6% |
| 每股收益（稀释后） | $0.30 | $0.99 |
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
| Q4 25 | $273.0M | — | ||
| Q3 25 | $670.5M | $332.6M | ||
| Q2 25 | $390.5M | $322.6M | ||
| Q1 25 | $351.0M | $271.9M | ||
| Q4 24 | $250.4M | $295.8M | ||
| Q3 24 | $551.3M | $303.3M | ||
| Q2 24 | $318.4M | $310.9M | ||
| Q1 24 | $333.8M | $251.1M |
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $37.2M | ||
| Q2 25 | $32.9M | $34.6M | ||
| Q1 25 | $31.6M | $27.1M | ||
| Q4 24 | $16.5M | $31.0M | ||
| Q3 24 | $81.5M | $40.7M | ||
| Q2 24 | $38.7M | $27.0M | ||
| Q1 24 | $45.0M | $27.2M |
| Q4 25 | 20.1% | — | ||
| Q3 25 | 22.3% | 23.2% | ||
| Q2 25 | 20.4% | 23.9% | ||
| Q1 25 | 22.6% | 23.4% | ||
| Q4 24 | 22.0% | 22.0% | ||
| Q3 24 | 23.9% | 25.5% | ||
| Q2 24 | 22.5% | 24.6% | ||
| Q1 24 | 24.9% | 26.5% |
| Q4 25 | 7.6% | — | ||
| Q3 25 | 16.9% | 12.2% | ||
| Q2 25 | 11.2% | 11.1% | ||
| Q1 25 | 11.6% | 10.4% | ||
| Q4 24 | 8.7% | 9.3% | ||
| Q3 24 | 19.7% | 13.4% | ||
| Q2 24 | 16.2% | 8.8% | ||
| Q1 24 | 17.6% | 13.9% |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 11.2% | ||
| Q2 25 | 8.4% | 10.7% | ||
| Q1 25 | 9.0% | 10.0% | ||
| Q4 24 | 6.6% | 10.5% | ||
| Q3 24 | 14.8% | 13.4% | ||
| Q2 24 | 12.2% | 8.7% | ||
| Q1 24 | 13.5% | 10.8% |
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | $0.99 | ||
| Q2 25 | $0.65 | $0.91 | ||
| Q1 25 | $0.62 | $0.68 | ||
| Q4 24 | $0.32 | $0.76 | ||
| Q3 24 | $1.59 | $0.98 | ||
| Q2 24 | $0.76 | $0.65 | ||
| Q1 24 | $0.89 | $0.66 |
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 | $365.9M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $457.3M |
| 总资产 | $3.2B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | $365.9M | ||
| Q2 25 | $189.2M | $303.0M | ||
| Q1 25 | $174.3M | $286.8M | ||
| Q4 24 | $132.0M | $302.4M | ||
| Q3 24 | $481.2M | $259.8M | ||
| Q2 24 | $359.2M | $207.8M | ||
| Q1 24 | $416.2M | $195.3M |
| 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 | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $457.3M | ||
| Q2 25 | $1.7B | $431.4M | ||
| Q1 25 | $1.6B | $412.9M | ||
| Q4 24 | $1.6B | $405.2M | ||
| Q3 24 | $1.6B | $400.4M | ||
| Q2 24 | $1.5B | $358.4M | ||
| Q1 24 | $1.5B | $317.8M |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | $1.1B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $3.0B | $1.1B | ||
| Q4 24 | $3.0B | $1.1B | ||
| Q3 24 | $2.8B | $1.1B | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $977.6M |
| 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× | — | ||
| 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 | $-157.0M | $78.3M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $77.1M |
| 自由现金流率自由现金流/营收 | -57.5% | 23.2% |
| 资本支出强度资本支出/营收 | 0.0% | 0.4% |
| 现金转化率经营现金流/净利润 | -10.19× | 2.10× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $188.1M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | — | ||
| Q3 25 | $256.3M | $78.3M | ||
| Q2 25 | $15.8M | $38.6M | ||
| Q1 25 | $-19.8M | $9.4M | ||
| Q4 24 | $-450.0M | $68.4M | ||
| Q3 24 | $119.2M | $55.2M | ||
| Q2 24 | $-61.7M | $19.1M | ||
| Q1 24 | $-59.2M | $15.3M |
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | $77.1M | ||
| Q2 25 | $15.0M | $37.0M | ||
| Q1 25 | $-20.5M | $7.0M | ||
| Q4 24 | — | $66.9M | ||
| Q3 24 | $118.4M | $51.4M | ||
| Q2 24 | $-62.3M | $12.9M | ||
| Q1 24 | $-59.8M | $11.3M |
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | 23.2% | ||
| Q2 25 | 3.8% | 11.5% | ||
| Q1 25 | -5.8% | 2.6% | ||
| Q4 24 | — | 22.6% | ||
| Q3 24 | 21.5% | 16.9% | ||
| Q2 24 | -19.6% | 4.2% | ||
| Q1 24 | -17.9% | 4.5% |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | 0.4% | ||
| Q2 25 | 0.2% | 0.5% | ||
| Q1 25 | 0.2% | 0.9% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.1% | 1.3% | ||
| Q2 24 | 0.2% | 2.0% | ||
| Q1 24 | 0.2% | 1.6% |
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 2.10× | ||
| Q2 25 | 0.48× | 1.12× | ||
| Q1 25 | -0.63× | 0.35× | ||
| Q4 24 | -27.27× | 2.21× | ||
| Q3 24 | 1.46× | 1.36× | ||
| Q2 24 | -1.59× | 0.71× | ||
| Q1 24 | -1.32× | 0.56× |
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
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
GCT
| Services | $108.4M | 33% |
| Transferred Over Time | $89.8M | 27% |
| Product Sales To B | $50.1M | 15% |
| Last Mile Delivery Service | $49.2M | 15% |
| Warehousing Service | $14.2M | 4% |
| Ocean Transportation Service | $9.0M | 3% |
| Platform Commission | $4.9M | 1% |
| Drayage Service | $3.2M | 1% |
