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Forestar Group Inc.（FOR）与LINCOLN EDUCATIONAL SERVICES CORP（LINC）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LINCOLN EDUCATIONAL SERVICES CORP的1.9倍（$273.0M vs $142.9M），LINCOLN EDUCATIONAL SERVICES CORP净利率更高（8.9% vs 5.6%，领先3.2%），LINCOLN EDUCATIONAL SERVICES CORP同比增速更快（19.7% vs 9.0%），LINCOLN EDUCATIONAL SERVICES CORP自由现金流更多（$25.0M vs $-157.1M），过去两年LINCOLN EDUCATIONAL SERVICES CORP的营收复合增速更高（17.6% 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。
林肯技术教育集团是美国营利性高等职业教育机构，总部位于新泽西州帕西帕尼，在美国科罗拉多、康涅狄格、佐治亚等12个州都设有校区，所有校区均由林肯教育服务公司持有运营，主打面向就业的高等职业技术教育服务。
FOR vs LINC — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $142.9M |
| 净利润 | $15.4M | $12.7M |
| 毛利率 | 20.1% | 62.3% |
| 营业利润率 | 7.6% | 12.4% |
| 净利率 | 5.6% | 8.9% |
| 营收同比 | 9.0% | 19.7% |
| 净利润同比 | -6.7% | 85.9% |
| 每股收益（稀释后） | $0.30 | $0.41 |
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
| Q4 25 | $273.0M | $142.9M | ||
| Q3 25 | $670.5M | $141.4M | ||
| Q2 25 | $390.5M | $116.5M | ||
| Q1 25 | $351.0M | $117.5M | ||
| Q4 24 | $250.4M | $119.4M | ||
| Q3 24 | $551.3M | $114.4M | ||
| Q2 24 | $318.4M | $102.9M | ||
| Q1 24 | $333.8M | $103.4M |
| Q4 25 | $15.4M | $12.7M | ||
| Q3 25 | $86.9M | $3.8M | ||
| Q2 25 | $32.9M | $1.6M | ||
| Q1 25 | $31.6M | $1.9M | ||
| Q4 24 | $16.5M | $6.8M | ||
| Q3 24 | $81.5M | $4.0M | ||
| Q2 24 | $38.7M | $-682.0K | ||
| Q1 24 | $45.0M | $-214.0K |
| Q4 25 | 20.1% | 62.3% | ||
| Q3 25 | 22.3% | 59.5% | ||
| Q2 25 | 20.4% | 59.8% | ||
| Q1 25 | 22.6% | 59.7% | ||
| Q4 24 | 22.0% | 62.2% | ||
| Q3 24 | 23.9% | 58.0% | ||
| Q2 24 | 22.5% | 55.7% | ||
| Q1 24 | 24.9% | 58.4% |
| Q4 25 | 7.6% | 12.4% | ||
| Q3 25 | 16.9% | 4.4% | ||
| Q2 25 | 11.2% | 2.5% | ||
| Q1 25 | 11.6% | 2.9% | ||
| Q4 24 | 8.7% | 9.2% | ||
| Q3 24 | 19.7% | 5.1% | ||
| Q2 24 | 16.2% | -1.1% | ||
| Q1 24 | 17.6% | -0.4% |
| Q4 25 | 5.6% | 8.9% | ||
| Q3 25 | 13.0% | 2.7% | ||
| Q2 25 | 8.4% | 1.3% | ||
| Q1 25 | 9.0% | 1.7% | ||
| Q4 24 | 6.6% | 5.7% | ||
| Q3 24 | 14.8% | 3.5% | ||
| Q2 24 | 12.2% | -0.7% | ||
| Q1 24 | 13.5% | -0.2% |
| Q4 25 | $0.30 | $0.41 | ||
| Q3 25 | $1.70 | $0.12 | ||
| Q2 25 | $0.65 | $0.05 | ||
| Q1 25 | $0.62 | $0.06 | ||
| Q4 24 | $0.32 | $0.22 | ||
| Q3 24 | $1.59 | $0.13 | ||
| Q2 24 | $0.76 | $-0.02 | ||
| Q1 24 | $0.89 | $-0.01 |
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 | $28.5M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $199.7M |
| 总资产 | $3.2B | $493.2M |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | $28.5M | ||
| Q3 25 | $379.2M | $13.5M | ||
| Q2 25 | $189.2M | $16.7M | ||
| Q1 25 | $174.3M | $28.7M | ||
| Q4 24 | $132.0M | $59.3M | ||
| Q3 24 | $481.2M | $54.0M | ||
| Q2 24 | $359.2M | $67.0M | ||
| Q1 24 | $416.2M | $68.6M |
| Q4 25 | $793.2M | — | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | — | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | $199.7M | ||
| Q3 25 | $1.8B | $185.9M | ||
| Q2 25 | $1.7B | $180.7M | ||
| Q1 25 | $1.6B | $177.8M | ||
| Q4 24 | $1.6B | $178.3M | ||
| Q3 24 | $1.6B | $170.0M | ||
| Q2 24 | $1.5B | $164.9M | ||
| Q1 24 | $1.5B | $164.5M |
| Q4 25 | $3.2B | $493.2M | ||
| Q3 25 | $3.1B | $466.9M | ||
| Q2 25 | $3.1B | $447.3M | ||
| Q1 25 | $3.0B | $427.4M | ||
| Q4 24 | $3.0B | $436.6M | ||
| Q3 24 | $2.8B | $404.0M | ||
| Q2 24 | $2.7B | $366.4M | ||
| Q1 24 | $2.6B | $355.2M |
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | — | ||
| 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 | $43.5M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $25.0M |
| 自由现金流率自由现金流/营收 | -57.5% | 17.5% |
| 资本支出强度资本支出/营收 | 0.0% | 13.0% |
| 现金转化率经营现金流/净利润 | -10.19× | 3.43× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $-27.3M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | $43.5M | ||
| Q3 25 | $256.3M | $23.9M | ||
| Q2 25 | $15.8M | $299.0K | ||
| Q1 25 | $-19.8M | $-8.4M | ||
| Q4 24 | $-450.0M | $30.3M | ||
| Q3 24 | $119.2M | $5.6M | ||
| Q2 24 | $-61.7M | $8.3M | ||
| Q1 24 | $-59.2M | $-14.9M |
| Q4 25 | $-157.1M | $25.0M | ||
| Q3 25 | $255.6M | $2.0M | ||
| Q2 25 | $15.0M | $-26.1M | ||
| Q1 25 | $-20.5M | $-28.3M | ||
| Q4 24 | — | $5.5M | ||
| Q3 24 | $118.4M | $-13.8M | ||
| Q2 24 | $-62.3M | $-2.7M | ||
| Q1 24 | $-59.8M | $-16.6M |
| Q4 25 | -57.5% | 17.5% | ||
| Q3 25 | 38.1% | 1.4% | ||
| Q2 25 | 3.8% | -22.4% | ||
| Q1 25 | -5.8% | -24.1% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | 21.5% | -12.0% | ||
| Q2 24 | -19.6% | -2.6% | ||
| Q1 24 | -17.9% | -16.1% |
| Q4 25 | 0.0% | 13.0% | ||
| Q3 25 | 0.1% | 15.5% | ||
| Q2 25 | 0.2% | 22.7% | ||
| Q1 25 | 0.2% | 16.9% | ||
| Q4 24 | 0.0% | 20.8% | ||
| Q3 24 | 0.1% | 16.9% | ||
| Q2 24 | 0.2% | 10.7% | ||
| Q1 24 | 0.2% | 1.6% |
| Q4 25 | -10.19× | 3.43× | ||
| Q3 25 | 2.95× | 6.29× | ||
| Q2 25 | 0.48× | 0.19× | ||
| Q1 25 | -0.63× | -4.31× | ||
| Q4 24 | -27.27× | 4.43× | ||
| Q3 24 | 1.46× | 1.42× | ||
| 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% |
LINC
| Transferred Over Time | $136.0M | 95% |
| Transferred At Point In Time | $6.9M | 5% |
