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Forestar Group Inc.（FOR）与LivaNova PLC（LIVN）财务数据对比。点击上方公司名可切换其他公司
LivaNova PLC的季度营收约是Forestar Group Inc.的1.3倍（$360.9M vs $273.0M），LivaNova PLC净利率更高（8.6% vs 5.6%，领先2.9%），LivaNova PLC同比增速更快（12.1% vs 9.0%），LivaNova PLC自由现金流更多（$50.2M vs $-157.1M），过去两年LivaNova PLC的营收复合增速更高（10.6% 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。
LivaNova PLC是一家深耕医疗设备领域的企业，总部位于英国，核心业务为研发心脏外科及神经调控类医疗设备。该公司由美国Cyberonics公司与意大利Sorin公司于2015年以27亿美元对价合并成立，目前在纳斯达克挂牌交易，股票代码为LIVN。
FOR vs LIVN — 直观对比
营收规模更大
LIVN
是对方的1.3倍
$273.0M
营收增速更快
LIVN
高出3.1%
9.0%
净利率更高
LIVN
高出2.9%
5.6%
自由现金流更多
LIVN
多$207.3M
$-157.1M
两年增速更快
LIVN
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $360.9M |
| 净利润 | $15.4M | $30.9M |
| 毛利率 | 20.1% | 65.2% |
| 营业利润率 | 7.6% | 11.8% |
| 净利率 | 5.6% | 8.6% |
| 营收同比 | 9.0% | 12.1% |
| 净利润同比 | -6.7% | -44.7% |
| 每股收益（稀释后） | $0.30 | $0.57 |
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FORLIVN
| Q4 25 | $273.0M | $360.9M | ||
| Q3 25 | $670.5M | $357.8M | ||
| Q2 25 | $390.5M | $352.5M | ||
| Q1 25 | $351.0M | $316.9M | ||
| Q4 24 | $250.4M | $321.8M | ||
| Q3 24 | $551.3M | $318.1M | ||
| Q2 24 | $318.4M | $318.6M | ||
| Q1 24 | $333.8M | $294.9M |
净利润FORLIVN
| Q4 25 | $15.4M | $30.9M | ||
| Q3 25 | $86.9M | $26.8M | ||
| Q2 25 | $32.9M | $27.2M | ||
| Q1 25 | $31.6M | $-327.3M | ||
| Q4 24 | $16.5M | $55.9M | ||
| Q3 24 | $81.5M | $33.0M | ||
| Q2 24 | $38.7M | $16.3M | ||
| Q1 24 | $45.0M | $-41.9M |
毛利率FORLIVN
| Q4 25 | 20.1% | 65.2% | ||
| Q3 25 | 22.3% | 68.4% | ||
| Q2 25 | 20.4% | 67.8% | ||
| Q1 25 | 22.6% | 69.7% | ||
| Q4 24 | 22.0% | 68.2% | ||
| Q3 24 | 23.9% | 70.8% | ||
| Q2 24 | 22.5% | 68.7% | ||
| Q1 24 | 24.9% | 70.3% |
营业利润率FORLIVN
| Q4 25 | 7.6% | 11.8% | ||
| Q3 25 | 16.9% | 15.1% | ||
| Q2 25 | 11.2% | 15.4% | ||
| Q1 25 | 11.6% | 15.3% | ||
| Q4 24 | 8.7% | 11.5% | ||
| Q3 24 | 19.7% | 11.2% | ||
| Q2 24 | 16.2% | 12.6% | ||
| Q1 24 | 17.6% | 5.5% |
净利率FORLIVN
| Q4 25 | 5.6% | 8.6% | ||
| Q3 25 | 13.0% | 7.5% | ||
| Q2 25 | 8.4% | 7.7% | ||
| Q1 25 | 9.0% | -103.3% | ||
| Q4 24 | 6.6% | 17.4% | ||
| Q3 24 | 14.8% | 10.4% | ||
| Q2 24 | 12.2% | 5.1% | ||
| Q1 24 | 13.5% | -14.2% |
每股收益（稀释后）FORLIVN
| Q4 25 | $0.30 | $0.57 | ||
| Q3 25 | $1.70 | $0.49 | ||
| Q2 25 | $0.65 | $0.50 | ||
| Q1 25 | $0.62 | $-6.01 | ||
| Q4 24 | $0.32 | $1.04 | ||
| Q3 24 | $1.59 | $0.60 | ||
| Q2 24 | $0.76 | $0.30 | ||
| Q1 24 | $0.89 | $-0.78 |
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 | $635.6M |
| 总债务越低越好 | $793.2M | $376.1M |
| 股东权益账面价值 | $1.8B | $1.2B |
| 总资产 | $3.2B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资FORLIVN
| Q4 25 | $211.7M | $635.6M | ||
| Q3 25 | $379.2M | $646.1M | ||
| Q2 25 | $189.2M | $593.6M | ||
| Q1 25 | $174.3M | $738.4M | ||
| Q4 24 | $132.0M | $428.9M | ||
| Q3 24 | $481.2M | $346.4M | ||
| Q2 24 | $359.2M | $329.2M | ||
| Q1 24 | $416.2M | $309.2M |
总债务FORLIVN
| Q4 25 | $793.2M | $376.1M | ||
| Q3 25 | $802.7M | $434.5M | ||
| Q2 25 | $872.8M | $430.6M | ||
| Q1 25 | $872.5M | $628.2M | ||
| Q4 24 | $806.8M | $627.0M | ||
| Q3 24 | $706.4M | $625.5M | ||
| Q2 24 | $706.1M | $624.5M | ||
| Q1 24 | $705.7M | $623.8M |
股东权益FORLIVN
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.6B | $1.0B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
总资产FORLIVN
| Q4 25 | $3.2B | $2.6B | ||
| Q3 25 | $3.1B | $2.6B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $3.0B | $2.6B | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $2.8B | $2.5B | ||
| Q2 24 | $2.7B | $2.5B | ||
| Q1 24 | $2.6B | $2.5B |
负债/权益比FORLIVN
| Q4 25 | 0.44× | 0.31× | ||
| Q3 25 | 0.45× | 0.38× | ||
| Q2 25 | 0.52× | 0.38× | ||
| Q1 25 | 0.53× | 0.61× | ||
| Q4 24 | 0.50× | 0.47× | ||
| Q3 24 | 0.44× | 0.48× | ||
| Q2 24 | 0.47× | 0.50× | ||
| Q1 24 | 0.48× | 0.51× |
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 | $82.4M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $50.2M |
| 自由现金流率自由现金流/营收 | -57.5% | 13.9% |
| 资本支出强度资本支出/营收 | 0.0% | 8.9% |
| 现金转化率经营现金流/净利润 | -10.19× | 2.67× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $173.3M |
8季度趋势，按日历期对齐
经营现金流FORLIVN
| Q4 25 | $-157.0M | $82.4M | ||
| Q3 25 | $256.3M | $85.1M | ||
| Q2 25 | $15.8M | $62.9M | ||
| Q1 25 | $-19.8M | $24.0M | ||
| Q4 24 | $-450.0M | $78.7M | ||
| Q3 24 | $119.2M | $51.0M | ||
| Q2 24 | $-61.7M | $43.4M | ||
| Q1 24 | $-59.2M | $10.0M |
自由现金流FORLIVN
| Q4 25 | $-157.1M | $50.2M | ||
| Q3 25 | $255.6M | $62.2M | ||
| Q2 25 | $15.0M | $47.8M | ||
| Q1 25 | $-20.5M | $13.2M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | $118.4M | $32.8M | ||
| Q2 24 | $-62.3M | $31.2M | ||
| Q1 24 | $-59.8M | $3.6M |
自由现金流率FORLIVN
| Q4 25 | -57.5% | 13.9% | ||
| Q3 25 | 38.1% | 17.4% | ||
| Q2 25 | 3.8% | 13.6% | ||
| Q1 25 | -5.8% | 4.2% | ||
| Q4 24 | — | 21.2% | ||
| Q3 24 | 21.5% | 10.3% | ||
| Q2 24 | -19.6% | 9.8% | ||
| Q1 24 | -17.9% | 1.2% |
资本支出强度FORLIVN
| Q4 25 | 0.0% | 8.9% | ||
| Q3 25 | 0.1% | 6.4% | ||
| Q2 25 | 0.2% | 4.3% | ||
| Q1 25 | 0.2% | 3.4% | ||
| Q4 24 | 0.0% | 3.2% | ||
| Q3 24 | 0.1% | 5.7% | ||
| Q2 24 | 0.2% | 3.8% | ||
| Q1 24 | 0.2% | 2.2% |
现金转化率FORLIVN
| Q4 25 | -10.19× | 2.67× | ||
| Q3 25 | 2.95× | 3.18× | ||
| Q2 25 | 0.48× | 2.32× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 1.41× | ||
| Q3 24 | 1.46× | 1.55× | ||
| Q2 24 | -1.59× | 2.65× | ||
| 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% |
LIVN
| Other | $169.4M | 47% |
| Neuromodulation Segment | $119.7M | 33% |
| Cardiopulmonary Segment | $71.8M | 20% |
