vs
Forestar Group Inc.（FOR）与IONIS PHARMACEUTICALS INC（IONS）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IONIS PHARMACEUTICALS INC的1.3倍（$273.0M vs $203.3M），Forestar Group Inc.净利率更高（5.6% vs -112.8%，领先118.5%），Forestar Group Inc.同比增速更快（9.0% vs -10.3%），Forestar Group Inc.自由现金流更多（$-157.1M vs $-159.0M），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% 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。
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
FOR vs IONS — 直观对比
营收规模更大
FOR
是对方的1.3倍
$203.3M
营收增速更快
FOR
高出19.3%
-10.3%
净利率更高
FOR
高出118.5%
-112.8%
自由现金流更多
FOR
多$1.9M
$-159.0M
两年增速更快
IONS
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $203.3M |
| 净利润 | $15.4M | $-229.4M |
| 毛利率 | 20.1% | 96.1% |
| 营业利润率 | 7.6% | -105.5% |
| 净利率 | 5.6% | -112.8% |
| 营收同比 | 9.0% | -10.3% |
| 净利润同比 | -6.7% | -119.8% |
| 每股收益（稀释后） | $0.30 | $-1.35 |
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FORIONS
| Q4 25 | $273.0M | $203.3M | ||
| Q3 25 | $670.5M | $156.7M | ||
| Q2 25 | $390.5M | $452.0M | ||
| Q1 25 | $351.0M | $131.6M | ||
| Q4 24 | $250.4M | $226.6M | ||
| Q3 24 | $551.3M | $133.8M | ||
| Q2 24 | $318.4M | $225.3M | ||
| Q1 24 | $333.8M | $119.5M |
净利润FORIONS
| Q4 25 | $15.4M | $-229.4M | ||
| Q3 25 | $86.9M | $-128.6M | ||
| Q2 25 | $32.9M | $123.6M | ||
| Q1 25 | $31.6M | $-146.9M | ||
| Q4 24 | $16.5M | $-104.3M | ||
| Q3 24 | $81.5M | $-140.5M | ||
| Q2 24 | $38.7M | $-66.3M | ||
| Q1 24 | $45.0M | $-142.8M |
毛利率FORIONS
| Q4 25 | 20.1% | 96.1% | ||
| Q3 25 | 22.3% | 98.5% | ||
| Q2 25 | 20.4% | 99.1% | ||
| Q1 25 | 22.6% | 98.9% | ||
| Q4 24 | 22.0% | 98.3% | ||
| Q3 24 | 23.9% | 99.2% | ||
| Q2 24 | 22.5% | 98.2% | ||
| Q1 24 | 24.9% | 98.2% |
营业利润率FORIONS
| Q4 25 | 7.6% | -105.5% | ||
| Q3 25 | 16.9% | -102.2% | ||
| Q2 25 | 11.2% | 30.9% | ||
| Q1 25 | 11.6% | -111.6% | ||
| Q4 24 | 8.7% | -48.9% | ||
| Q3 24 | 19.7% | -111.1% | ||
| Q2 24 | 16.2% | -29.3% | ||
| Q1 24 | 17.6% | -125.1% |
净利率FORIONS
| Q4 25 | 5.6% | -112.8% | ||
| Q3 25 | 13.0% | -82.1% | ||
| Q2 25 | 8.4% | 27.3% | ||
| Q1 25 | 9.0% | -111.6% | ||
| Q4 24 | 6.6% | -46.1% | ||
| Q3 24 | 14.8% | -105.0% | ||
| Q2 24 | 12.2% | -29.4% | ||
| Q1 24 | 13.5% | -119.5% |
每股收益（稀释后）FORIONS
| Q4 25 | $0.30 | $-1.35 | ||
| Q3 25 | $1.70 | $-0.80 | ||
| Q2 25 | $0.65 | $0.70 | ||
| Q1 25 | $0.62 | $-0.93 | ||
| Q4 24 | $0.32 | $-0.66 | ||
| Q3 24 | $1.59 | $-0.95 | ||
| Q2 24 | $0.76 | $-0.45 | ||
| Q1 24 | $0.89 | $-0.98 |
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 | $2.7B |
| 总债务越低越好 | $793.2M | $1.8B |
| 股东权益账面价值 | $1.8B | $489.1M |
| 总资产 | $3.2B | $3.5B |
| 负债/权益比越低杠杆越低 | 0.44× | 3.71× |
8季度趋势，按日历期对齐
现金及短期投资FORIONS
| Q4 25 | $211.7M | $2.7B | ||
| Q3 25 | $379.2M | $2.2B | ||
| Q2 25 | $189.2M | $2.3B | ||
| Q1 25 | $174.3M | $2.1B | ||
| Q4 24 | $132.0M | $2.3B | ||
| Q3 24 | $481.2M | $2.5B | ||
| Q2 24 | $359.2M | $2.1B | ||
| Q1 24 | $416.2M | $2.2B |
总债务FORIONS
| Q4 25 | $793.2M | $1.8B | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $1.3B | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
股东权益FORIONS
| Q4 25 | $1.8B | $489.1M | ||
| Q3 25 | $1.8B | $618.0M | ||
| Q2 25 | $1.7B | $631.7M | ||
| Q1 25 | $1.6B | $475.7M | ||
| Q4 24 | $1.6B | $588.4M | ||
| Q3 24 | $1.6B | $662.5M | ||
| Q2 24 | $1.5B | $263.7M | ||
| Q1 24 | $1.5B | $296.5M |
总资产FORIONS
| Q4 25 | $3.2B | $3.5B | ||
| Q3 25 | $3.1B | $3.0B | ||
| Q2 25 | $3.1B | $3.0B | ||
| Q1 25 | $3.0B | $2.8B | ||
| Q4 24 | $3.0B | $3.0B | ||
| Q3 24 | $2.8B | $3.1B | ||
| Q2 24 | $2.7B | $2.7B | ||
| Q1 24 | $2.6B | $2.8B |
负债/权益比FORIONS
| Q4 25 | 0.44× | 3.71× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 2.13× | ||
| 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 | $-137.7M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $-159.0M |
| 自由现金流率自由现金流/营收 | -57.5% | -78.2% |
| 资本支出强度资本支出/营收 | 0.0% | 10.5% |
| 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 | $-320.0M |
8季度趋势，按日历期对齐
经营现金流FORIONS
| Q4 25 | $-157.0M | $-137.7M | ||
| Q3 25 | $256.3M | $-131.4M | ||
| Q2 25 | $15.8M | $151.3M | ||
| Q1 25 | $-19.8M | $-150.8M | ||
| Q4 24 | $-450.0M | $-116.1M | ||
| Q3 24 | $119.2M | $-115.0M | ||
| Q2 24 | $-61.7M | $-119.9M | ||
| Q1 24 | $-59.2M | $-149.9M |
自由现金流FORIONS
| Q4 25 | $-157.1M | $-159.0M | ||
| Q3 25 | $255.6M | $-136.7M | ||
| Q2 25 | $15.0M | $139.0M | ||
| Q1 25 | $-20.5M | $-163.4M | ||
| Q4 24 | — | $-141.6M | ||
| Q3 24 | $118.4M | $-124.0M | ||
| Q2 24 | $-62.3M | $-126.1M | ||
| Q1 24 | $-59.8M | $-154.4M |
自由现金流率FORIONS
| Q4 25 | -57.5% | -78.2% | ||
| Q3 25 | 38.1% | -87.2% | ||
| Q2 25 | 3.8% | 30.8% | ||
| Q1 25 | -5.8% | -124.1% | ||
| Q4 24 | — | -62.5% | ||
| Q3 24 | 21.5% | -92.7% | ||
| Q2 24 | -19.6% | -56.0% | ||
| Q1 24 | -17.9% | -129.2% |
资本支出强度FORIONS
| Q4 25 | 0.0% | 10.5% | ||
| Q3 25 | 0.1% | 3.4% | ||
| Q2 25 | 0.2% | 2.7% | ||
| Q1 25 | 0.2% | 9.6% | ||
| Q4 24 | 0.0% | 11.3% | ||
| Q3 24 | 0.1% | 6.8% | ||
| Q2 24 | 0.2% | 2.8% | ||
| Q1 24 | 0.2% | 3.8% |
现金转化率FORIONS
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 1.22× | ||
| 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% |
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
