vs
Forestar Group Inc.（FOR）与HORACE MANN EDUCATORS CORP（HMN）财务数据对比。点击上方公司名可切换其他公司
HORACE MANN EDUCATORS CORP的季度营收约是Forestar Group Inc.的1.6倍（$434.8M vs $273.0M），Forestar Group Inc.同比增速更快（9.0% vs 6.3%），过去两年HORACE MANN EDUCATORS CORP的营收复合增速更高（6.1% 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。
贺拉斯曼是一家总部位于美国伊利诺伊州的金融服务企业，主营汽车保险、财产保险、补充保险与人寿保险业务，同时提供退休年金、共同基金等金融产品，核心服务群体为教育工作者及其家庭。
FOR vs HMN — 直观对比
营收规模更大
HMN
是对方的1.6倍
$273.0M
营收增速更快
FOR
高出2.7%
6.3%
两年增速更快
HMN
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $434.8M |
| 净利润 | $15.4M | — |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 10.5% |
| 净利率 | 5.6% | — |
| 营收同比 | 9.0% | 6.3% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | $0.87 |
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FORHMN
| Q4 25 | $273.0M | $434.8M | ||
| Q3 25 | $670.5M | $438.5M | ||
| Q2 25 | $390.5M | $411.7M | ||
| Q1 25 | $351.0M | $416.4M | ||
| Q4 24 | $250.4M | $409.0M | ||
| Q3 24 | $551.3M | $412.1M | ||
| Q2 24 | $318.4M | $388.1M | ||
| Q1 24 | $333.8M | $386.0M |
净利润FORHMN
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $58.3M | ||
| Q2 25 | $32.9M | $29.4M | ||
| Q1 25 | $31.6M | $38.2M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $34.3M | ||
| Q2 24 | $38.7M | $3.8M | ||
| Q1 24 | $45.0M | $26.5M |
毛利率FORHMN
| 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FORHMN
| Q4 25 | 7.6% | 10.5% | ||
| Q3 25 | 16.9% | 16.3% | ||
| Q2 25 | 11.2% | 8.9% | ||
| Q1 25 | 11.6% | 11.4% | ||
| Q4 24 | 8.7% | 11.8% | ||
| Q3 24 | 19.7% | 10.4% | ||
| Q2 24 | 16.2% | 1.2% | ||
| Q1 24 | 17.6% | 8.5% |
净利率FORHMN
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 13.3% | ||
| Q2 25 | 8.4% | 7.1% | ||
| Q1 25 | 9.0% | 9.2% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | 8.3% | ||
| Q2 24 | 12.2% | 1.0% | ||
| Q1 24 | 13.5% | 6.9% |
每股收益（稀释后）FORHMN
| Q4 25 | $0.30 | $0.87 | ||
| Q3 25 | $1.70 | $1.40 | ||
| Q2 25 | $0.65 | $0.71 | ||
| Q1 25 | $0.62 | $0.92 | ||
| Q4 24 | $0.32 | $0.92 | ||
| Q3 24 | $1.59 | $0.83 | ||
| Q2 24 | $0.76 | $0.09 | ||
| Q1 24 | $0.89 | $0.64 |
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 | $27.5M |
| 总债务越低越好 | $793.2M | $593.4M |
| 股东权益账面价值 | $1.8B | $1.5B |
| 总资产 | $3.2B | $15.3B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资FORHMN
| Q4 25 | $211.7M | $27.5M | ||
| Q3 25 | $379.2M | $46.7M | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | $38.1M | ||
| Q3 24 | $481.2M | — | ||
| Q2 24 | $359.2M | — | ||
| Q1 24 | $416.2M | — |
总债务FORHMN
| Q4 25 | $793.2M | $593.4M | ||
| Q3 25 | $802.7M | $842.9M | ||
| Q2 25 | $872.8M | $547.5M | ||
| Q1 25 | $872.5M | $547.2M | ||
| Q4 24 | $806.8M | $547.0M | ||
| Q3 24 | $706.4M | $546.7M | ||
| Q2 24 | $706.1M | $546.5M | ||
| Q1 24 | $705.7M | $546.2M |
股东权益FORHMN
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
总资产FORHMN
| Q4 25 | $3.2B | $15.3B | ||
| Q3 25 | $3.1B | $15.5B | ||
| Q2 25 | $3.1B | $14.7B | ||
| Q1 25 | $3.0B | $14.4B | ||
| Q4 24 | $3.0B | $14.5B | ||
| Q3 24 | $2.8B | $14.7B | ||
| Q2 24 | $2.7B | $14.3B | ||
| Q1 24 | $2.6B | $14.2B |
负债/权益比FORHMN
| Q4 25 | 0.44× | 0.40× | ||
| Q3 25 | 0.45× | 0.58× | ||
| Q2 25 | 0.52× | 0.40× | ||
| Q1 25 | 0.53× | 0.41× | ||
| Q4 24 | 0.50× | 0.42× | ||
| Q3 24 | 0.44× | 0.42× | ||
| Q2 24 | 0.47× | 0.45× | ||
| Q1 24 | 0.48× | 0.45× |
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 | $553.2M |
| 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FORHMN
| Q4 25 | $-157.0M | $553.2M | ||
| Q3 25 | $256.3M | $151.2M | ||
| Q2 25 | $15.8M | $131.3M | ||
| Q1 25 | $-19.8M | $140.8M | ||
| Q4 24 | $-450.0M | $452.1M | ||
| Q3 24 | $119.2M | $143.9M | ||
| Q2 24 | $-61.7M | $40.2M | ||
| Q1 24 | $-59.2M | $74.5M |
自由现金流FORHMN
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | — | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $-20.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $-62.3M | — | ||
| Q1 24 | $-59.8M | — |
自由现金流率FORHMN
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -17.9% | — |
资本支出强度FORHMN
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
现金转化率FORHMN
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 2.59× | ||
| Q2 25 | 0.48× | 4.47× | ||
| Q1 25 | -0.63× | 3.69× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 4.20× | ||
| Q2 24 | -1.59× | 10.58× | ||
| Q1 24 | -1.32× | 2.81× |
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% |
HMN
| Property And Casualty | $224.3M | 52% |
| Life And Retirement | $139.6M | 32% |
| Supplemental And Group Benefits | $77.0M | 18% |
