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Forestar Group Inc.（FOR）与Hudson Pacific Properties, Inc.（HPP）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Hudson Pacific Properties, Inc.的1.1倍（$273.0M vs $256.0M），Forestar Group Inc.净利率更高（5.6% vs -109.4%，领先115.1%），Hudson Pacific Properties, Inc.同比增速更快（22.1% vs 9.0%），过去两年Hudson Pacific Properties, Inc.的营收复合增速更高（9.4% 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。
哈德逊太平洋地产是一家房地产投资信托企业，持有1580万平方英尺办公楼、150万平方英尺摄影棚，同时拥有300万平方英尺商用物业的未开发权益，资产布局覆盖美国西海岸及温哥华，注册地位于马里兰州，总部设在洛杉矶，是洛杉矶当地规模最大的独立摄影棚运营商。
FOR vs HPP — 直观对比
营收规模更大
FOR
是对方的1.1倍
$256.0M
营收增速更快
HPP
高出13.1%
9.0%
净利率更高
FOR
高出115.1%
-109.4%
两年增速更快
HPP
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $256.0M |
| 净利润 | $15.4M | $-280.2M |
| 毛利率 | 20.1% | 60.0% |
| 营业利润率 | 7.6% | -109.8% |
| 净利率 | 5.6% | -109.4% |
| 营收同比 | 9.0% | 22.1% |
| 净利润同比 | -6.7% | -61.5% |
| 每股收益（稀释后） | $0.30 | $-11.57 |
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FORHPP
| Q4 25 | $273.0M | $256.0M | ||
| Q3 25 | $670.5M | $186.6M | ||
| Q2 25 | $390.5M | $190.0M | ||
| Q1 25 | $351.0M | $198.5M | ||
| Q4 24 | $250.4M | $209.7M | ||
| Q3 24 | $551.3M | $200.4M | ||
| Q2 24 | $318.4M | $218.0M | ||
| Q1 24 | $333.8M | $214.0M |
净利润FORHPP
| Q4 25 | $15.4M | $-280.2M | ||
| Q3 25 | $86.9M | $-144.1M | ||
| Q2 25 | $32.9M | $-87.8M | ||
| Q1 25 | $31.6M | $-80.3M | ||
| Q4 24 | $16.5M | $-173.5M | ||
| Q3 24 | $81.5M | $-107.0M | ||
| Q2 24 | $38.7M | $-47.6M | ||
| Q1 24 | $45.0M | $-53.4M |
毛利率FORHPP
| Q4 25 | 20.1% | 60.0% | ||
| Q3 25 | 22.3% | 44.3% | ||
| Q2 25 | 20.4% | 43.1% | ||
| Q1 25 | 22.6% | 42.9% | ||
| Q4 24 | 22.0% | 44.7% | ||
| Q3 24 | 23.9% | 42.7% | ||
| Q2 24 | 22.5% | 48.0% | ||
| Q1 24 | 24.9% | 48.6% |
营业利润率FORHPP
| Q4 25 | 7.6% | -109.8% | ||
| Q3 25 | 16.9% | -77.2% | ||
| Q2 25 | 11.2% | -46.0% | ||
| Q1 25 | 11.6% | -40.4% | ||
| Q4 24 | 8.7% | -83.2% | ||
| Q3 24 | 19.7% | -52.3% | ||
| Q2 24 | 16.2% | -21.6% | ||
| Q1 24 | 17.6% | -24.9% |
净利率FORHPP
| Q4 25 | 5.6% | -109.4% | ||
| Q3 25 | 13.0% | -77.2% | ||
| Q2 25 | 8.4% | -46.2% | ||
| Q1 25 | 9.0% | -40.5% | ||
| Q4 24 | 6.6% | -82.7% | ||
| Q3 24 | 14.8% | -53.4% | ||
| Q2 24 | 12.2% | -21.8% | ||
| Q1 24 | 13.5% | -24.9% |
每股收益（稀释后）FORHPP
| Q4 25 | $0.30 | $-11.57 | ||
| Q3 25 | $1.70 | $-0.30 | ||
| Q2 25 | $0.65 | $-0.41 | ||
| Q1 25 | $0.62 | $-0.53 | ||
| Q4 24 | $0.32 | $-1.19 | ||
| Q3 24 | $1.59 | $-0.69 | ||
| Q2 24 | $0.76 | $-0.33 | ||
| Q1 24 | $0.89 | $-0.37 |
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 | $138.4M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $3.0B |
| 总资产 | $3.2B | $7.3B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
现金及短期投资FORHPP
| Q4 25 | $211.7M | $138.4M | ||
| Q3 25 | $379.2M | $190.4M | ||
| Q2 25 | $189.2M | $236.0M | ||
| Q1 25 | $174.3M | $86.5M | ||
| Q4 24 | $132.0M | $63.3M | ||
| Q3 24 | $481.2M | $90.7M | ||
| Q2 24 | $359.2M | $78.5M | ||
| Q1 24 | $416.2M | $114.3M |
总债务FORHPP
| 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 | — |
股东权益FORHPP
| Q4 25 | $1.8B | $3.0B | ||
| Q3 25 | $1.8B | $3.2B | ||
| Q2 25 | $1.7B | $3.4B | ||
| Q1 25 | $1.6B | $2.8B | ||
| Q4 24 | $1.6B | $2.9B | ||
| Q3 24 | $1.6B | $3.0B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $1.5B | $3.2B |
总资产FORHPP
| Q4 25 | $3.2B | $7.3B | ||
| Q3 25 | $3.1B | $7.8B | ||
| Q2 25 | $3.1B | $8.1B | ||
| Q1 25 | $3.0B | $8.0B | ||
| Q4 24 | $3.0B | $8.1B | ||
| Q3 24 | $2.8B | $8.3B | ||
| Q2 24 | $2.7B | $8.4B | ||
| Q1 24 | $2.6B | $8.3B |
负债/权益比FORHPP
| 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 | $121.0M |
| 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FORHPP
| Q4 25 | $-157.0M | $121.0M | ||
| Q3 25 | $256.3M | $33.2M | ||
| Q2 25 | $15.8M | $-2.0M | ||
| Q1 25 | $-19.8M | $30.5M | ||
| Q4 24 | $-450.0M | $164.7M | ||
| Q3 24 | $119.2M | $63.7M | ||
| Q2 24 | $-61.7M | $35.6M | ||
| Q1 24 | $-59.2M | $65.1M |
自由现金流FORHPP
| 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FORHPP
| 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FORHPP
| 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FORHPP
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -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
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
HPP
| Core Office | $217.1M | 85% |
| Studio Segment | $21.8M | 9% |
| Ancillary Revenue | $20.2M | 8% |
| Chargebacks | $3.3M | 1% |
