vs
Forestar Group Inc.（FOR）与IAC Inc.（IAC）财务数据对比。点击上方公司名可切换其他公司
IAC Inc.的季度营收约是Forestar Group Inc.的1.5倍（$422.9M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -17.0%，领先22.6%），Forestar Group Inc.同比增速更快（9.0% vs -12.2%），IAC Inc.自由现金流更多（$2.0M vs $-157.1M），过去两年Forestar Group Inc.的营收复合增速更高（-9.6% vs -18.4%）
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。
IAC Inc.是一家美国控股企业，业务覆盖媒体与互联网领域，在全球拥有多个知名品牌。公司前身是1996年成立的HSN Inc.，当时作为家庭购物频道Home Shopping Network和USA电视台的控股主体运营，1999年更名为USA Networks Inc.，2002年将旗下电视业务资产出售给威望迪集团。
FOR vs IAC — 直观对比
营收规模更大
IAC
是对方的1.5倍
$273.0M
营收增速更快
FOR
高出21.2%
-12.2%
净利率更高
FOR
高出22.6%
-17.0%
自由现金流更多
IAC
多$159.1M
$-157.1M
两年增速更快
FOR
近两年复合增速
-18.4%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $422.9M |
| 净利润 | $15.4M | $-71.9M |
| 毛利率 | 20.1% | 99.9% |
| 营业利润率 | 7.6% | — |
| 净利率 | 5.6% | -17.0% |
| 营收同比 | 9.0% | -12.2% |
| 净利润同比 | -6.7% | 67.1% |
| 每股收益（稀释后） | $0.30 | $-0.94 |
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FORIAC
| Q1 26 | — | $422.9M | ||
| Q4 25 | $273.0M | $646.0M | ||
| Q3 25 | $670.5M | $589.8M | ||
| Q2 25 | $390.5M | $586.9M | ||
| Q1 25 | $351.0M | $570.5M | ||
| Q4 24 | $250.4M | $721.4M | ||
| Q3 24 | $551.3M | $642.0M | ||
| Q2 24 | $318.4M | $634.4M |
净利润FORIAC
| Q1 26 | — | $-71.9M | ||
| Q4 25 | $15.4M | $-76.8M | ||
| Q3 25 | $86.9M | $-21.9M | ||
| Q2 25 | $32.9M | $211.5M | ||
| Q1 25 | $31.6M | $-216.8M | ||
| Q4 24 | $16.5M | $-199.0M | ||
| Q3 24 | $81.5M | $-243.7M | ||
| Q2 24 | $38.7M | $-142.2M |
毛利率FORIAC
| Q1 26 | — | 99.9% | ||
| Q4 25 | 20.1% | 69.8% | ||
| Q3 25 | 22.3% | 64.8% | ||
| Q2 25 | 20.4% | 65.6% | ||
| Q1 25 | 22.6% | 64.0% | ||
| Q4 24 | 22.0% | 65.8% | ||
| Q3 24 | 23.9% | 62.1% | ||
| Q2 24 | 22.5% | 60.1% |
营业利润率FORIAC
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | -17.5% | ||
| Q3 25 | 16.9% | -3.5% | ||
| Q2 25 | 11.2% | 0.1% | ||
| Q1 25 | 11.6% | 6.3% | ||
| Q4 24 | 8.7% | 6.7% | ||
| Q3 24 | 19.7% | 1.3% | ||
| Q2 24 | 16.2% | -3.4% |
净利率FORIAC
| Q1 26 | — | -17.0% | ||
| Q4 25 | 5.6% | -11.9% | ||
| Q3 25 | 13.0% | -3.7% | ||
| Q2 25 | 8.4% | 36.0% | ||
| Q1 25 | 9.0% | -38.0% | ||
| Q4 24 | 6.6% | -27.6% | ||
| Q3 24 | 14.8% | -38.0% | ||
| Q2 24 | 12.2% | -22.4% |
每股收益（稀释后）FORIAC
| Q1 26 | — | $-0.94 | ||
| Q4 25 | $0.30 | $-0.96 | ||
| Q3 25 | $1.70 | $-0.27 | ||
| Q2 25 | $0.65 | $2.57 | ||
| Q1 25 | $0.62 | $-2.64 | ||
| Q4 24 | $0.32 | $-2.36 | ||
| Q3 24 | $1.59 | $-2.93 | ||
| Q2 24 | $0.76 | $-1.71 |
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 | $1.1B |
| 总债务越低越好 | $793.2M | $24.5M |
| 股东权益账面价值 | $1.8B | $4.6B |
| 总资产 | $3.2B | $6.8B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资FORIAC
| Q1 26 | — | $1.1B | ||
| Q4 25 | $211.7M | $960.2M | ||
| Q3 25 | $379.2M | $1.0B | ||
| Q2 25 | $189.2M | $1.1B | ||
| Q1 25 | $174.3M | $1.2B | ||
| Q4 24 | $132.0M | $1.4B | ||
| Q3 24 | $481.2M | $1.3B | ||
| Q2 24 | $359.2M | $1.3B |
总债务FORIAC
| Q1 26 | — | $24.5M | ||
| Q4 25 | $793.2M | $1.4B | ||
| Q3 25 | $802.7M | $1.4B | ||
| Q2 25 | $872.8M | $1.4B | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | — | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — |
股东权益FORIAC
| Q1 26 | — | $4.6B | ||
| Q4 25 | $1.8B | $4.7B | ||
| Q3 25 | $1.8B | $4.8B | ||
| Q2 25 | $1.7B | $4.9B | ||
| Q1 25 | $1.6B | $4.7B | ||
| Q4 24 | $1.6B | $5.6B | ||
| Q3 24 | $1.6B | $5.8B | ||
| Q2 24 | $1.5B | $6.0B |
总资产FORIAC
| Q1 26 | — | $6.8B | ||
| Q4 25 | $3.2B | $7.1B | ||
| Q3 25 | $3.1B | $7.2B | ||
| Q2 25 | $3.1B | $7.4B | ||
| Q1 25 | $3.0B | $7.2B | ||
| Q4 24 | $3.0B | $9.7B | ||
| Q3 24 | $2.8B | $9.8B | ||
| Q2 24 | $2.7B | $10.2B |
负债/权益比FORIAC
| Q1 26 | — | 0.01× | ||
| Q4 25 | 0.44× | 0.30× | ||
| Q3 25 | 0.45× | 0.30× | ||
| Q2 25 | 0.52× | 0.30× | ||
| 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 | $5.4M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $2.0M |
| 自由现金流率自由现金流/营收 | -57.5% | 0.5% |
| 资本支出强度资本支出/营收 | 0.0% | 1.9% |
| 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 | $51.4M |
8季度趋势，按日历期对齐
经营现金流FORIAC
| Q1 26 | — | $5.4M | ||
| Q4 25 | $-157.0M | $36.6M | ||
| Q3 25 | $256.3M | $30.1M | ||
| Q2 25 | $15.8M | $-2.8M | ||
| Q1 25 | $-19.8M | $63.0K | ||
| Q4 24 | $-450.0M | $110.1M | ||
| Q3 24 | $119.2M | $95.3M | ||
| Q2 24 | $-61.7M | $85.0M |
自由现金流FORIAC
| Q1 26 | — | $2.0M | ||
| Q4 25 | $-157.1M | $31.4M | ||
| Q3 25 | $255.6M | $25.3M | ||
| Q2 25 | $15.0M | $-7.2M | ||
| Q1 25 | $-20.5M | $-4.6M | ||
| Q4 24 | — | $104.8M | ||
| Q3 24 | $118.4M | $92.0M | ||
| Q2 24 | $-62.3M | $81.6M |
自由现金流率FORIAC
| Q1 26 | — | 0.5% | ||
| Q4 25 | -57.5% | 4.9% | ||
| Q3 25 | 38.1% | 4.3% | ||
| Q2 25 | 3.8% | -1.2% | ||
| Q1 25 | -5.8% | -0.8% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 21.5% | 14.3% | ||
| Q2 24 | -19.6% | 12.9% |
资本支出强度FORIAC
| Q1 26 | — | 1.9% | ||
| Q4 25 | 0.0% | 0.8% | ||
| Q3 25 | 0.1% | 0.8% | ||
| Q2 25 | 0.2% | 0.8% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.2% | 0.5% |
现金转化率FORIAC
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | -0.01× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -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
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
IAC
| People Inc. (a) | $385.7M | 91% |
| Emerging & Other | $20.1M | 5% |
| Search | $17.1M | 4% |
