vs
Forestar Group Inc.（FOR）与Merchants Bancorp（MBIN）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Merchants Bancorp的1.6倍（$273.0M vs $175.2M），Merchants Bancorp净利率更高（38.6% vs 5.6%，领先33.0%），过去两年Merchants Bancorp的营收复合增速更高（4.8% 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。
Ameris Bancorp是总部位于美国佐治亚州亚特兰大的银行控股企业，旗下设有Ameris Bank子公司，在佐治亚州、阿拉巴马州、佛罗里达州、北卡罗来纳州、南卡罗来纳州运营全服务网点，同时在上述五州及弗吉尼亚州、马里兰州、田纳西州设立仅办理抵押贷款业务的网点，为个人和企业客户提供线上及移动端银行服务。
FOR vs MBIN — 直观对比
营收规模更大
FOR
是对方的1.6倍
$175.2M
净利率更高
MBIN
高出33.0%
5.6%
两年增速更快
MBIN
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $175.2M |
| 净利润 | $15.4M | $67.7M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | — |
| 净利率 | 5.6% | 38.6% |
| 营收同比 | 9.0% | — |
| 净利润同比 | -6.7% | 16.3% |
| 每股收益（稀释后） | $0.30 | $1.25 |
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FORMBIN
| Q1 26 | — | $175.2M | ||
| Q4 25 | $273.0M | $185.3M | ||
| Q3 25 | $670.5M | $171.1M | ||
| Q2 25 | $390.5M | $179.2M | ||
| Q1 25 | $351.0M | $145.9M | ||
| Q4 24 | $250.4M | $193.8M | ||
| Q3 24 | $551.3M | $149.6M | ||
| Q2 24 | $318.4M | $159.5M |
净利润FORMBIN
| Q1 26 | — | $67.7M | ||
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $54.7M | ||
| Q2 25 | $32.9M | $38.0M | ||
| Q1 25 | $31.6M | $58.2M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $61.3M | ||
| Q2 24 | $38.7M | $76.4M |
毛利率FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | 20.1% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 20.4% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 22.0% | — | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 22.5% | — |
营业利润率FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 39.9% | ||
| Q3 25 | 16.9% | 37.8% | ||
| Q2 25 | 11.2% | 27.3% | ||
| Q1 25 | 11.6% | 52.4% | ||
| Q4 24 | 8.7% | 66.0% | ||
| Q3 24 | 19.7% | 54.4% | ||
| Q2 24 | 16.2% | 62.2% |
净利率FORMBIN
| Q1 26 | — | 38.6% | ||
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 32.0% | ||
| Q2 25 | 8.4% | 21.2% | ||
| Q1 25 | 9.0% | 39.9% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | 41.0% | ||
| Q2 24 | 12.2% | 47.9% |
每股收益（稀释后）FORMBIN
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.30 | $1.28 | ||
| Q3 25 | $1.70 | $0.97 | ||
| Q2 25 | $0.65 | $0.60 | ||
| Q1 25 | $0.62 | $0.93 | ||
| Q4 24 | $0.32 | $1.84 | ||
| Q3 24 | $1.59 | $1.17 | ||
| Q2 24 | $0.76 | $1.49 |
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 | $83.2M |
| 总债务越低越好 | $793.2M | $32.0M |
| 股东权益账面价值 | $1.8B | $2.3B |
| 总资产 | $3.2B | $20.3B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.01× |
8季度趋势，按日历期对齐
现金及短期投资FORMBIN
| Q1 26 | — | $83.2M | ||
| 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 | — |
总债务FORMBIN
| Q1 26 | — | $32.0M | ||
| 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 | — |
股东权益FORMBIN
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | $1.8B | $2.2B | ||
| Q2 25 | $1.7B | $2.2B | ||
| Q1 25 | $1.6B | $2.2B | ||
| Q4 24 | $1.6B | $2.2B | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.5B | $1.9B |
总资产FORMBIN
| Q1 26 | — | $20.3B | ||
| Q4 25 | $3.2B | $19.4B | ||
| Q3 25 | $3.1B | $19.4B | ||
| Q2 25 | $3.1B | $19.1B | ||
| Q1 25 | $3.0B | $18.8B | ||
| Q4 24 | $3.0B | $18.8B | ||
| Q3 24 | $2.8B | $18.7B | ||
| Q2 24 | $2.7B | $18.2B |
负债/权益比FORMBIN
| Q1 26 | — | 0.01× | ||
| 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× | — |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | — |
| 自由现金流率自由现金流/营收 | -57.5% | — |
| 资本支出强度资本支出/营收 | 0.0% | — |
| 现金转化率经营现金流/净利润 | -10.19× | — |
| 过去12个月自由现金流最近4个季度 | $93.0M | — |
8季度趋势，按日历期对齐
经营现金流FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $-341.2M | ||
| Q3 25 | $256.3M | $29.8M | ||
| Q2 25 | $15.8M | $-121.2M | ||
| Q1 25 | $-19.8M | $148.0M | ||
| Q4 24 | $-450.0M | $-835.3M | ||
| Q3 24 | $119.2M | $-492.6M | ||
| Q2 24 | $-61.7M | $51.1M |
自由现金流FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $-362.2M | ||
| Q3 25 | $255.6M | $24.0M | ||
| Q2 25 | $15.0M | $-125.7M | ||
| Q1 25 | $-20.5M | $141.2M | ||
| Q4 24 | — | $-853.7M | ||
| Q3 24 | $118.4M | $-497.2M | ||
| Q2 24 | $-62.3M | $45.8M |
自由现金流率FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | -195.5% | ||
| Q3 25 | 38.1% | 14.0% | ||
| Q2 25 | 3.8% | -70.1% | ||
| Q1 25 | -5.8% | 96.8% | ||
| Q4 24 | — | -440.6% | ||
| Q3 24 | 21.5% | -332.4% | ||
| Q2 24 | -19.6% | 28.7% |
资本支出强度FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 11.3% | ||
| Q3 25 | 0.1% | 3.4% | ||
| Q2 25 | 0.2% | 2.5% | ||
| Q1 25 | 0.2% | 4.7% | ||
| Q4 24 | 0.0% | 9.5% | ||
| Q3 24 | 0.1% | 3.0% | ||
| Q2 24 | 0.2% | 3.3% |
现金转化率FORMBIN
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 0.54× | ||
| Q2 25 | 0.48× | -3.19× | ||
| Q1 25 | -0.63× | 2.54× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | -8.04× | ||
| Q2 24 | -1.59× | 0.67× |
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% |
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
