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Forestar Group Inc.（FOR）与百胜餐饮集团（LCUT）财务数据对比。点击上方公司名可切换其他公司
Forestar Group Inc.的季度营收约是百胜餐饮集团的1.3倍（$273.0M vs $204.1M），百胜餐饮集团净利率更高（8.9% vs 5.6%，领先3.3%），Forestar Group Inc.同比增速更快（9.0% vs -5.2%），百胜餐饮集团自由现金流更多（$2.6M vs $-157.1M），过去两年百胜餐饮集团的营收复合增速更高（19.8% 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。
百胜餐饮集团是美国跨国快餐企业，1977年百事可乐收购肯德基、必胜客、塔可Bell后将其整合为旗下子公司，1997年百事剥离该业务板块后正式独立为百胜集团。集团目前运营肯德基、必胜客、塔可Bell、哈比特汉堡等多个餐饮品牌，同时布局相关餐饮科技业务，门店网络遍布全球多个国家和地区。
FOR vs LCUT — 直观对比
营收规模更大
FOR
是对方的1.3倍
$204.1M
营收增速更快
FOR
高出14.2%
-5.2%
净利率更高
LCUT
高出3.3%
5.6%
自由现金流更多
LCUT
多$159.7M
$-157.1M
两年增速更快
LCUT
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $204.1M |
| 净利润 | $15.4M | $18.2M |
| 毛利率 | 20.1% | 38.6% |
| 营业利润率 | 7.6% | 9.8% |
| 净利率 | 5.6% | 8.9% |
| 营收同比 | 9.0% | -5.2% |
| 净利润同比 | -6.7% | 103.5% |
| 每股收益（稀释后） | $0.30 | $0.83 |
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FORLCUT
| Q4 25 | $273.0M | $204.1M | ||
| Q3 25 | $670.5M | $171.9M | ||
| Q2 25 | $390.5M | $131.9M | ||
| Q1 25 | $351.0M | $140.1M | ||
| Q4 24 | $250.4M | $215.2M | ||
| Q3 24 | $551.3M | $183.8M | ||
| Q2 24 | $318.4M | $141.7M | ||
| Q1 24 | $333.8M | $142.2M |
净利润FORLCUT
| Q4 25 | $15.4M | $18.2M | ||
| Q3 25 | $86.9M | $-1.2M | ||
| Q2 25 | $32.9M | $-39.7M | ||
| Q1 25 | $31.6M | $-4.2M | ||
| Q4 24 | $16.5M | $8.9M | ||
| Q3 24 | $81.5M | $344.0K | ||
| Q2 24 | $38.7M | $-18.2M | ||
| Q1 24 | $45.0M | $-6.3M |
毛利率FORLCUT
| Q4 25 | 20.1% | 38.6% | ||
| Q3 25 | 22.3% | 35.1% | ||
| Q2 25 | 20.4% | 38.6% | ||
| Q1 25 | 22.6% | 36.1% | ||
| Q4 24 | 22.0% | 37.7% | ||
| Q3 24 | 23.9% | 36.7% | ||
| Q2 24 | 22.5% | 38.5% | ||
| Q1 24 | 24.9% | 40.5% |
营业利润率FORLCUT
| Q4 25 | 7.6% | 9.8% | ||
| Q3 25 | 16.9% | 3.9% | ||
| Q2 25 | 11.2% | -28.2% | ||
| Q1 25 | 11.6% | 0.8% | ||
| Q4 24 | 8.7% | 7.2% | ||
| Q3 24 | 19.7% | 4.7% | ||
| Q2 24 | 16.2% | 0.8% | ||
| Q1 24 | 17.6% | 1.3% |
净利率FORLCUT
| Q4 25 | 5.6% | 8.9% | ||
| Q3 25 | 13.0% | -0.7% | ||
| Q2 25 | 8.4% | -30.1% | ||
| Q1 25 | 9.0% | -3.0% | ||
| Q4 24 | 6.6% | 4.1% | ||
| Q3 24 | 14.8% | 0.2% | ||
| Q2 24 | 12.2% | -12.8% | ||
| Q1 24 | 13.5% | -4.4% |
每股收益（稀释后）FORLCUT
| Q4 25 | $0.30 | $0.83 | ||
| Q3 25 | $1.70 | $-0.05 | ||
| Q2 25 | $0.65 | $-1.83 | ||
| Q1 25 | $0.62 | $-0.19 | ||
| Q4 24 | $0.32 | $0.41 | ||
| Q3 24 | $1.59 | $0.02 | ||
| Q2 24 | $0.76 | $-0.85 | ||
| Q1 24 | $0.89 | $-0.29 |
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 | $4.3M |
| 总债务越低越好 | $793.2M | $135.0M |
| 股东权益账面价值 | $1.8B | $202.3M |
| 总资产 | $3.2B | $572.6M |
| 负债/权益比越低杠杆越低 | 0.44× | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资FORLCUT
| Q4 25 | $211.7M | $4.3M | ||
| Q3 25 | $379.2M | $12.1M | ||
| Q2 25 | $189.2M | $12.0M | ||
| Q1 25 | $174.3M | $10.4M | ||
| Q4 24 | $132.0M | $2.9M | ||
| Q3 24 | $481.2M | $6.0M | ||
| Q2 24 | $359.2M | $3.4M | ||
| Q1 24 | $416.2M | $4.6M |
总债务FORLCUT
| Q4 25 | $793.2M | $135.0M | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $142.5M | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
股东权益FORLCUT
| Q4 25 | $1.8B | $202.3M | ||
| Q3 25 | $1.8B | $184.6M | ||
| Q2 25 | $1.7B | $185.8M | ||
| Q1 25 | $1.6B | $225.7M | ||
| Q4 24 | $1.6B | $229.9M | ||
| Q3 24 | $1.6B | $220.9M | ||
| Q2 24 | $1.5B | $219.8M | ||
| Q1 24 | $1.5B | $223.7M |
总资产FORLCUT
| Q4 25 | $3.2B | $572.6M | ||
| Q3 25 | $3.1B | $581.1M | ||
| Q2 25 | $3.1B | $551.9M | ||
| Q1 25 | $3.0B | $594.6M | ||
| Q4 24 | $3.0B | $634.3M | ||
| Q3 24 | $2.8B | $668.7M | ||
| Q2 24 | $2.7B | $617.0M | ||
| Q1 24 | $2.6B | $602.7M |
负债/权益比FORLCUT
| Q4 25 | 0.44× | 0.67× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 0.62× | ||
| 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 | $3.7M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $2.6M |
| 自由现金流率自由现金流/营收 | -57.5% | 1.3% |
| 资本支出强度资本支出/营收 | 0.0% | 0.6% |
| 现金转化率经营现金流/净利润 | -10.19× | 0.21× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $3.3M |
8季度趋势，按日历期对齐
经营现金流FORLCUT
| Q4 25 | $-157.0M | $3.7M | ||
| Q3 25 | $256.3M | $-22.2M | ||
| Q2 25 | $15.8M | $9.3M | ||
| Q1 25 | $-19.8M | $16.7M | ||
| Q4 24 | $-450.0M | $20.3M | ||
| Q3 24 | $119.2M | $-22.7M | ||
| Q2 24 | $-61.7M | $10.4M | ||
| Q1 24 | $-59.2M | $10.5M |
自由现金流FORLCUT
| Q4 25 | $-157.1M | $2.6M | ||
| Q3 25 | $255.6M | $-22.7M | ||
| Q2 25 | $15.0M | $8.2M | ||
| Q1 25 | $-20.5M | $15.1M | ||
| Q4 24 | — | $19.7M | ||
| Q3 24 | $118.4M | $-23.2M | ||
| Q2 24 | $-62.3M | $9.9M | ||
| Q1 24 | $-59.8M | $9.9M |
自由现金流率FORLCUT
| Q4 25 | -57.5% | 1.3% | ||
| Q3 25 | 38.1% | -13.2% | ||
| Q2 25 | 3.8% | 6.2% | ||
| Q1 25 | -5.8% | 10.8% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | 21.5% | -12.6% | ||
| Q2 24 | -19.6% | 7.0% | ||
| Q1 24 | -17.9% | 7.0% |
资本支出强度FORLCUT
| Q4 25 | 0.0% | 0.6% | ||
| Q3 25 | 0.1% | 0.3% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.2% | 1.1% | ||
| Q4 24 | 0.0% | 0.3% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.2% | 0.4% | ||
| Q1 24 | 0.2% | 0.4% |
现金转化率FORLCUT
| Q4 25 | -10.19× | 0.21× | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 2.28× | ||
| Q3 24 | 1.46× | -65.89× | ||
| 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% |
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
