vs
Forestar Group Inc.（FOR）与KADANT INC（KAI）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KADANT INC的1.0倍（$273.0M vs $271.6M），KADANT INC净利率更高（10.2% vs 5.6%，领先4.6%），Forestar Group Inc.同比增速更快（9.0% vs -0.0%），KADANT INC自由现金流更多（$44.1M vs $-157.1M），过去两年KADANT INC的营收复合增速更高（6.7% 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。
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
FOR vs KAI — 直观对比
营收规模更大
FOR
是对方的1.0倍
$271.6M
营收增速更快
FOR
高出9.0%
-0.0%
净利率更高
KAI
高出4.6%
5.6%
自由现金流更多
KAI
多$201.2M
$-157.1M
两年增速更快
KAI
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $271.6M |
| 净利润 | $15.4M | $27.7M |
| 毛利率 | 20.1% | 45.2% |
| 营业利润率 | 7.6% | 15.7% |
| 净利率 | 5.6% | 10.2% |
| 营收同比 | 9.0% | -0.0% |
| 净利润同比 | -6.7% | -12.2% |
| 每股收益（稀释后） | $0.30 | $2.35 |
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FORKAI
| Q4 25 | $273.0M | — | ||
| Q3 25 | $670.5M | $271.6M | ||
| Q2 25 | $390.5M | $255.3M | ||
| Q1 25 | $351.0M | $239.2M | ||
| Q4 24 | $250.4M | $258.0M | ||
| Q3 24 | $551.3M | $271.6M | ||
| Q2 24 | $318.4M | $274.8M | ||
| Q1 24 | $333.8M | $249.0M |
净利润FORKAI
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $27.7M | ||
| Q2 25 | $32.9M | $26.2M | ||
| Q1 25 | $31.6M | $24.1M | ||
| Q4 24 | $16.5M | $24.0M | ||
| Q3 24 | $81.5M | $31.6M | ||
| Q2 24 | $38.7M | $31.3M | ||
| Q1 24 | $45.0M | $24.7M |
毛利率FORKAI
| Q4 25 | 20.1% | — | ||
| Q3 25 | 22.3% | 45.2% | ||
| Q2 25 | 20.4% | 45.9% | ||
| Q1 25 | 22.6% | 46.1% | ||
| Q4 24 | 22.0% | 43.4% | ||
| Q3 24 | 23.9% | 44.7% | ||
| Q2 24 | 22.5% | 44.4% | ||
| Q1 24 | 24.9% | 44.6% |
营业利润率FORKAI
| Q4 25 | 7.6% | — | ||
| Q3 25 | 16.9% | 15.7% | ||
| Q2 25 | 11.2% | 15.4% | ||
| Q1 25 | 11.6% | 14.9% | ||
| Q4 24 | 8.7% | 14.3% | ||
| Q3 24 | 19.7% | 18.0% | ||
| Q2 24 | 16.2% | 17.6% | ||
| Q1 24 | 17.6% | 14.8% |
净利率FORKAI
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 10.2% | ||
| Q2 25 | 8.4% | 10.2% | ||
| Q1 25 | 9.0% | 10.1% | ||
| Q4 24 | 6.6% | 9.3% | ||
| Q3 24 | 14.8% | 11.6% | ||
| Q2 24 | 12.2% | 11.4% | ||
| Q1 24 | 13.5% | 9.9% |
每股收益（稀释后）FORKAI
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | $2.35 | ||
| Q2 25 | $0.65 | $2.22 | ||
| Q1 25 | $0.62 | $2.04 | ||
| Q4 24 | $0.32 | $2.04 | ||
| Q3 24 | $1.59 | $2.68 | ||
| Q2 24 | $0.76 | $2.66 | ||
| Q1 24 | $0.89 | $2.10 |
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 | $124.5M |
| 总债务越低越好 | $793.2M | $254.6M |
| 股东权益账面价值 | $1.8B | $949.8M |
| 总资产 | $3.2B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资FORKAI
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | $124.5M | ||
| Q2 25 | $189.2M | $95.3M | ||
| Q1 25 | $174.3M | $91.7M | ||
| Q4 24 | $132.0M | $94.7M | ||
| Q3 24 | $481.2M | $88.4M | ||
| Q2 24 | $359.2M | $73.8M | ||
| Q1 24 | $416.2M | $81.4M |
总债务FORKAI
| Q4 25 | $793.2M | — | ||
| Q3 25 | $802.7M | $254.6M | ||
| Q2 25 | $872.8M | $245.7M | ||
| Q1 25 | $872.5M | $273.5M | ||
| Q4 24 | $806.8M | $285.2M | ||
| Q3 24 | $706.4M | $323.2M | ||
| Q2 24 | $706.1M | $342.0M | ||
| Q1 24 | $705.7M | $306.8M |
股东权益FORKAI
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $949.8M | ||
| Q2 25 | $1.7B | $926.0M | ||
| Q1 25 | $1.6B | $876.0M | ||
| Q4 24 | $1.6B | $847.1M | ||
| Q3 24 | $1.6B | $851.7M | ||
| Q2 24 | $1.5B | $807.7M | ||
| Q1 24 | $1.5B | $782.7M |
总资产FORKAI
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | $1.5B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.0B | $1.4B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.6B | $1.4B |
负债/权益比FORKAI
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | 0.27× | ||
| Q2 25 | 0.52× | 0.27× | ||
| Q1 25 | 0.53× | 0.31× | ||
| Q4 24 | 0.50× | 0.34× | ||
| Q3 24 | 0.44× | 0.38× | ||
| Q2 24 | 0.47× | 0.42× | ||
| Q1 24 | 0.48× | 0.39× |
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 | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $44.1M |
| 自由现金流率自由现金流/营收 | -57.5% | 16.2% |
| 资本支出强度资本支出/营收 | 0.0% | 1.2% |
| 现金转化率经营现金流/净利润 | -10.19× | 1.70× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $145.9M |
8季度趋势，按日历期对齐
经营现金流FORKAI
| Q4 25 | $-157.0M | — | ||
| Q3 25 | $256.3M | $47.3M | ||
| Q2 25 | $15.8M | $40.5M | ||
| Q1 25 | $-19.8M | $22.8M | ||
| Q4 24 | $-450.0M | $51.9M | ||
| Q3 24 | $119.2M | $52.5M | ||
| Q2 24 | $-61.7M | $28.1M | ||
| Q1 24 | $-59.2M | $22.8M |
自由现金流FORKAI
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | $44.1M | ||
| Q2 25 | $15.0M | $36.5M | ||
| Q1 25 | $-20.5M | $19.0M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | $118.4M | $48.3M | ||
| Q2 24 | $-62.3M | $23.1M | ||
| Q1 24 | $-59.8M | $16.6M |
自由现金流率FORKAI
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | 16.2% | ||
| Q2 25 | 3.8% | 14.3% | ||
| Q1 25 | -5.8% | 7.9% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | 21.5% | 17.8% | ||
| Q2 24 | -19.6% | 8.4% | ||
| Q1 24 | -17.9% | 6.7% |
资本支出强度FORKAI
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | 1.2% | ||
| Q2 25 | 0.2% | 1.6% | ||
| Q1 25 | 0.2% | 1.6% | ||
| Q4 24 | 0.0% | 2.2% | ||
| Q3 24 | 0.1% | 1.5% | ||
| Q2 24 | 0.2% | 1.8% | ||
| Q1 24 | 0.2% | 2.5% |
现金转化率FORKAI
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 1.70× | ||
| Q2 25 | 0.48× | 1.55× | ||
| Q1 25 | -0.63× | 0.95× | ||
| Q4 24 | -27.27× | 2.16× | ||
| Q3 24 | 1.46× | 1.66× | ||
| Q2 24 | -1.59× | 0.90× | ||
| Q1 24 | -1.32× | 0.92× |
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% |
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
