vs
Forestar Group Inc.（FOR）与Koppers Holdings Inc.（KOP）财务数据对比。点击上方公司名可切换其他公司
Koppers Holdings Inc.的季度营收约是Forestar Group Inc.的1.6倍（$432.7M vs $273.0M），Koppers Holdings Inc.净利率更高（6.9% vs 5.6%，领先1.2%），Forestar Group Inc.同比增速更快（9.0% vs -9.3%），Koppers Holdings Inc.自由现金流更多（$28.5M vs $-157.1M），过去两年Koppers Holdings 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。
科佩斯控股是一家全球性化工与材料企业，总部位于美国宾夕法尼亚州匹兹堡，入驻建于1920年代的装饰艺术风格摩天大楼科佩斯大厦，在全球范围内开展相关业务经营。
FOR vs KOP — 直观对比
营收规模更大
KOP
是对方的1.6倍
$273.0M
营收增速更快
FOR
高出18.3%
-9.3%
净利率更高
KOP
高出1.2%
5.6%
自由现金流更多
KOP
多$185.6M
$-157.1M
两年增速更快
KOP
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $432.7M |
| 净利润 | $15.4M | $29.7M |
| 毛利率 | 20.1% | 25.6% |
| 营业利润率 | 7.6% | 11.5% |
| 净利率 | 5.6% | 6.9% |
| 营收同比 | 9.0% | -9.3% |
| 净利润同比 | -6.7% | 391.2% |
| 每股收益（稀释后） | $0.30 | $1.44 |
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FORKOP
| Q4 25 | $273.0M | $432.7M | ||
| Q3 25 | $670.5M | $485.3M | ||
| Q2 25 | $390.5M | $504.8M | ||
| Q1 25 | $351.0M | $456.5M | ||
| Q4 24 | $250.4M | $477.0M | ||
| Q3 24 | $551.3M | $554.3M | ||
| Q2 24 | $318.4M | $563.2M | ||
| Q1 24 | $333.8M | $497.6M |
净利润FORKOP
| Q4 25 | $15.4M | $29.7M | ||
| Q3 25 | $86.9M | $23.8M | ||
| Q2 25 | $32.9M | $16.4M | ||
| Q1 25 | $31.6M | $-13.9M | ||
| Q4 24 | $16.5M | $-10.2M | ||
| Q3 24 | $81.5M | $22.8M | ||
| Q2 24 | $38.7M | $26.8M | ||
| Q1 24 | $45.0M | $13.0M |
毛利率FORKOP
| Q4 25 | 20.1% | 25.6% | ||
| Q3 25 | 22.3% | 24.1% | ||
| Q2 25 | 20.4% | 22.6% | ||
| Q1 25 | 22.6% | 23.2% | ||
| Q4 24 | 22.0% | 17.5% | ||
| Q3 24 | 23.9% | 21.9% | ||
| Q2 24 | 22.5% | 21.6% | ||
| Q1 24 | 24.9% | 19.3% |
营业利润率FORKOP
| Q4 25 | 7.6% | 11.5% | ||
| Q3 25 | 16.9% | 10.7% | ||
| Q2 25 | 11.2% | 7.7% | ||
| Q1 25 | 11.6% | 5.9% | ||
| Q4 24 | 8.7% | 1.3% | ||
| Q3 24 | 19.7% | 9.0% | ||
| Q2 24 | 16.2% | 10.2% | ||
| Q1 24 | 17.6% | 7.0% |
净利率FORKOP
| Q4 25 | 5.6% | 6.9% | ||
| Q3 25 | 13.0% | 4.9% | ||
| Q2 25 | 8.4% | 3.2% | ||
| Q1 25 | 9.0% | -3.0% | ||
| Q4 24 | 6.6% | -2.1% | ||
| Q3 24 | 14.8% | 4.1% | ||
| Q2 24 | 12.2% | 4.8% | ||
| Q1 24 | 13.5% | 2.6% |
每股收益（稀释后）FORKOP
| Q4 25 | $0.30 | $1.44 | ||
| Q3 25 | $1.70 | $1.17 | ||
| Q2 25 | $0.65 | $0.81 | ||
| Q1 25 | $0.62 | $-0.68 | ||
| Q4 24 | $0.32 | $-0.47 | ||
| Q3 24 | $1.59 | $1.09 | ||
| Q2 24 | $0.76 | $1.25 | ||
| Q1 24 | $0.89 | $0.59 |
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 | — |
| 总债务越低越好 | $793.2M | $928.3M |
| 股东权益账面价值 | $1.8B | $574.0M |
| 总资产 | $3.2B | $1.9B |
| 负债/权益比越低杠杆越低 | 0.44× | 1.62× |
8季度趋势，按日历期对齐
现金及短期投资FORKOP
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | — | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | — | ||
| Q2 24 | $359.2M | — | ||
| Q1 24 | $416.2M | — |
总债务FORKOP
| Q4 25 | $793.2M | $928.3M | ||
| Q3 25 | $802.7M | $932.9M | ||
| Q2 25 | $872.8M | $977.5M | ||
| Q1 25 | $872.5M | $989.0M | ||
| Q4 24 | $806.8M | $939.5M | ||
| Q3 24 | $706.4M | $989.4M | ||
| Q2 24 | $706.1M | $1.0B | ||
| Q1 24 | $705.7M | $877.6M |
股东权益FORKOP
| Q4 25 | $1.8B | $574.0M | ||
| Q3 25 | $1.8B | $545.6M | ||
| Q2 25 | $1.7B | $526.8M | ||
| Q1 25 | $1.6B | $498.0M | ||
| Q4 24 | $1.6B | $488.7M | ||
| Q3 24 | $1.6B | $532.3M | ||
| Q2 24 | $1.5B | $509.2M | ||
| Q1 24 | $1.5B | $505.8M |
总资产FORKOP
| Q4 25 | $3.2B | $1.9B | ||
| Q3 25 | $3.1B | $1.9B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $3.0B | $1.9B | ||
| Q4 24 | $3.0B | $1.9B | ||
| Q3 24 | $2.8B | $2.0B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $2.6B | $1.8B |
负债/权益比FORKOP
| Q4 25 | 0.44× | 1.62× | ||
| Q3 25 | 0.45× | 1.71× | ||
| Q2 25 | 0.52× | 1.86× | ||
| Q1 25 | 0.53× | 1.99× | ||
| Q4 24 | 0.50× | 1.92× | ||
| Q3 24 | 0.44× | 1.86× | ||
| Q2 24 | 0.47× | 1.97× | ||
| Q1 24 | 0.48× | 1.74× |
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 | $45.1M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $28.5M |
| 自由现金流率自由现金流/营收 | -57.5% | 6.6% |
| 资本支出强度资本支出/营收 | 0.0% | 3.8% |
| 现金转化率经营现金流/净利润 | -10.19× | 1.52× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $67.5M |
8季度趋势，按日历期对齐
经营现金流FORKOP
| Q4 25 | $-157.0M | $45.1M | ||
| Q3 25 | $256.3M | $49.6M | ||
| Q2 25 | $15.8M | $50.5M | ||
| Q1 25 | $-19.8M | $-22.7M | ||
| Q4 24 | $-450.0M | $74.7M | ||
| Q3 24 | $119.2M | $29.8M | ||
| Q2 24 | $-61.7M | $27.2M | ||
| Q1 24 | $-59.2M | $-12.3M |
自由现金流FORKOP
| Q4 25 | $-157.1M | $28.5M | ||
| Q3 25 | $255.6M | $37.6M | ||
| Q2 25 | $15.0M | $38.4M | ||
| Q1 25 | $-20.5M | $-37.0M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | $118.4M | $14.4M | ||
| Q2 24 | $-62.3M | $10.1M | ||
| Q1 24 | $-59.8M | $-38.6M |
自由现金流率FORKOP
| Q4 25 | -57.5% | 6.6% | ||
| Q3 25 | 38.1% | 7.7% | ||
| Q2 25 | 3.8% | 7.6% | ||
| Q1 25 | -5.8% | -8.1% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 21.5% | 2.6% | ||
| Q2 24 | -19.6% | 1.8% | ||
| Q1 24 | -17.9% | -7.8% |
资本支出强度FORKOP
| Q4 25 | 0.0% | 3.8% | ||
| Q3 25 | 0.1% | 2.5% | ||
| Q2 25 | 0.2% | 2.4% | ||
| Q1 25 | 0.2% | 3.1% | ||
| Q4 24 | 0.0% | 3.9% | ||
| Q3 24 | 0.1% | 2.8% | ||
| Q2 24 | 0.2% | 3.0% | ||
| Q1 24 | 0.2% | 5.3% |
现金转化率FORKOP
| Q4 25 | -10.19× | 1.52× | ||
| Q3 25 | 2.95× | 2.08× | ||
| Q2 25 | 0.48× | 3.08× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 1.31× | ||
| Q2 24 | -1.59× | 1.01× | ||
| Q1 24 | -1.32× | -0.95× |
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% |
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
