vs
Forestar Group Inc.（FOR）与MALIBU BOATS, INC.（MBUU）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MALIBU BOATS, INC.的1.4倍（$273.0M vs $188.6M），Forestar Group Inc.净利率更高（5.6% vs -1.3%，领先6.9%），Forestar Group Inc.同比增速更快（9.0% vs -5.8%），MALIBU BOATS, INC.自由现金流更多（$8.2M vs $-157.1M），过去两年MALIBU BOATS, INC.的营收复合增速更高（-3.7% 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。
马里布游艇是美国休闲游艇制造商，1982年创立于加利福尼亚州默塞德，现总部位于田纳西州洛登，在澳大利亚新南威尔士州也设有生产基地。它是全球最大的水上运动拖船制造商，产品可供休闲使用，也应用于滑水、尾波滑板等各类赛事活动。
FOR vs MBUU — 直观对比
营收规模更大
FOR
是对方的1.4倍
$188.6M
营收增速更快
FOR
高出14.8%
-5.8%
净利率更高
FOR
高出6.9%
-1.3%
自由现金流更多
MBUU
多$165.3M
$-157.1M
两年增速更快
MBUU
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $188.6M |
| 净利润 | $15.4M | $-2.5M |
| 毛利率 | 20.1% | 13.3% |
| 营业利润率 | 7.6% | -1.9% |
| 净利率 | 5.6% | -1.3% |
| 营收同比 | 9.0% | -5.8% |
| 净利润同比 | -6.7% | -204.2% |
| 每股收益（稀释后） | $0.30 | $-0.13 |
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FORMBUU
| Q4 25 | $273.0M | $188.6M | ||
| Q3 25 | $670.5M | $194.7M | ||
| Q2 25 | $390.5M | $207.0M | ||
| Q1 25 | $351.0M | $228.7M | ||
| Q4 24 | $250.4M | $200.3M | ||
| Q3 24 | $551.3M | $171.6M | ||
| Q2 24 | $318.4M | $158.7M | ||
| Q1 24 | $333.8M | $203.4M |
净利润FORMBUU
| Q4 25 | $15.4M | $-2.5M | ||
| Q3 25 | $86.9M | $-702.0K | ||
| Q2 25 | $32.9M | $4.7M | ||
| Q1 25 | $31.6M | $12.9M | ||
| Q4 24 | $16.5M | $2.4M | ||
| Q3 24 | $81.5M | $-5.0M | ||
| Q2 24 | $38.7M | $-19.2M | ||
| Q1 24 | $45.0M | $-66.8M |
毛利率FORMBUU
| Q4 25 | 20.1% | 13.3% | ||
| Q3 25 | 22.3% | 14.3% | ||
| Q2 25 | 20.4% | 15.8% | ||
| Q1 25 | 22.6% | 20.0% | ||
| Q4 24 | 22.0% | 18.7% | ||
| Q3 24 | 23.9% | 16.4% | ||
| Q2 24 | 22.5% | 7.9% | ||
| Q1 24 | 24.9% | 19.8% |
营业利润率FORMBUU
| Q4 25 | 7.6% | -1.9% | ||
| Q3 25 | 16.9% | -0.4% | ||
| Q2 25 | 11.2% | 3.3% | ||
| Q1 25 | 11.6% | 7.6% | ||
| Q4 24 | 8.7% | 1.6% | ||
| Q3 24 | 19.7% | -3.3% | ||
| Q2 24 | 16.2% | -15.4% | ||
| Q1 24 | 17.6% | -36.8% |
净利率FORMBUU
| Q4 25 | 5.6% | -1.3% | ||
| Q3 25 | 13.0% | -0.4% | ||
| Q2 25 | 8.4% | 2.3% | ||
| Q1 25 | 9.0% | 5.6% | ||
| Q4 24 | 6.6% | 1.2% | ||
| Q3 24 | 14.8% | -2.9% | ||
| Q2 24 | 12.2% | -12.1% | ||
| Q1 24 | 13.5% | -32.9% |
每股收益（稀释后）FORMBUU
| Q4 25 | $0.30 | $-0.13 | ||
| Q3 25 | $1.70 | $-0.04 | ||
| Q2 25 | $0.65 | $0.23 | ||
| Q1 25 | $0.62 | $0.66 | ||
| Q4 24 | $0.32 | $0.12 | ||
| Q3 24 | $1.59 | $-0.25 | ||
| Q2 24 | $0.76 | $-0.93 | ||
| Q1 24 | $0.89 | $-3.28 |
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 | $28.2M |
| 总债务越低越好 | $793.2M | $20.0M |
| 股东权益账面价值 | $1.8B | $495.0M |
| 总资产 | $3.2B | $715.7M |
| 负债/权益比越低杠杆越低 | 0.44× | 0.04× |
8季度趋势，按日历期对齐
现金及短期投资FORMBUU
| Q4 25 | $211.7M | $28.2M | ||
| Q3 25 | $379.2M | $44.1M | ||
| Q2 25 | $189.2M | $37.0M | ||
| Q1 25 | $174.3M | $38.7M | ||
| Q4 24 | $132.0M | $35.1M | ||
| Q3 24 | $481.2M | $27.7M | ||
| Q2 24 | $359.2M | $26.9M | ||
| Q1 24 | $416.2M | $47.1M |
总债务FORMBUU
| Q4 25 | $793.2M | $20.0M | ||
| Q3 25 | $802.7M | $23.0M | ||
| Q2 25 | $872.8M | $18.0M | ||
| Q1 25 | $872.5M | $28.0M | ||
| Q4 24 | $806.8M | $23.0M | ||
| Q3 24 | $706.4M | $28.0M | ||
| Q2 24 | $706.1M | $0 | ||
| Q1 24 | $705.7M | $15.0M |
股东权益FORMBUU
| Q4 25 | $1.8B | $495.0M | ||
| Q3 25 | $1.8B | $516.4M | ||
| Q2 25 | $1.7B | $515.5M | ||
| Q1 25 | $1.6B | $513.0M | ||
| Q4 24 | $1.6B | $509.8M | ||
| Q3 24 | $1.6B | $517.7M | ||
| Q2 24 | $1.5B | $530.0M | ||
| Q1 24 | $1.5B | $557.2M |
总资产FORMBUU
| Q4 25 | $3.2B | $715.7M | ||
| Q3 25 | $3.1B | $755.6M | ||
| Q2 25 | $3.1B | $734.6M | ||
| Q1 25 | $3.0B | $758.8M | ||
| Q4 24 | $3.0B | $738.7M | ||
| Q3 24 | $2.8B | $759.1M | ||
| Q2 24 | $2.7B | $739.6M | ||
| Q1 24 | $2.6B | $797.6M |
负债/权益比FORMBUU
| Q4 25 | 0.44× | 0.04× | ||
| Q3 25 | 0.45× | 0.04× | ||
| Q2 25 | 0.52× | 0.03× | ||
| Q1 25 | 0.53× | 0.05× | ||
| Q4 24 | 0.50× | 0.05× | ||
| Q3 24 | 0.44× | 0.05× | ||
| Q2 24 | 0.47× | 0.00× | ||
| Q1 24 | 0.48× | 0.03× |
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 | $12.6M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $8.2M |
| 自由现金流率自由现金流/营收 | -57.5% | 4.4% |
| 资本支出强度资本支出/营收 | 0.0% | 2.3% |
| 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 | $33.3M |
8季度趋势，按日历期对齐
经营现金流FORMBUU
| Q4 25 | $-157.0M | $12.6M | ||
| Q3 25 | $256.3M | $6.5M | ||
| Q2 25 | $15.8M | $21.0M | ||
| Q1 25 | $-19.8M | $15.5M | ||
| Q4 24 | $-450.0M | $28.4M | ||
| Q3 24 | $119.2M | $-8.4M | ||
| Q2 24 | $-61.7M | $16.3M | ||
| Q1 24 | $-59.2M | $23.5M |
自由现金流FORMBUU
| Q4 25 | $-157.1M | $8.2M | ||
| Q3 25 | $255.6M | $2.2M | ||
| Q2 25 | $15.0M | $14.1M | ||
| Q1 25 | $-20.5M | $8.8M | ||
| Q4 24 | — | $22.8M | ||
| Q3 24 | $118.4M | $-17.0M | ||
| Q2 24 | $-62.3M | $4.5M | ||
| Q1 24 | $-59.8M | $11.5M |
自由现金流率FORMBUU
| Q4 25 | -57.5% | 4.4% | ||
| Q3 25 | 38.1% | 1.1% | ||
| Q2 25 | 3.8% | 6.8% | ||
| Q1 25 | -5.8% | 3.8% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | 21.5% | -9.9% | ||
| Q2 24 | -19.6% | 2.8% | ||
| Q1 24 | -17.9% | 5.7% |
资本支出强度FORMBUU
| Q4 25 | 0.0% | 2.3% | ||
| Q3 25 | 0.1% | 2.2% | ||
| Q2 25 | 0.2% | 3.4% | ||
| Q1 25 | 0.2% | 2.9% | ||
| Q4 24 | 0.0% | 2.8% | ||
| Q3 24 | 0.1% | 5.0% | ||
| Q2 24 | 0.2% | 7.5% | ||
| Q1 24 | 0.2% | 5.9% |
现金转化率FORMBUU
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 4.50× | ||
| Q1 25 | -0.63× | 1.20× | ||
| Q4 24 | -27.27× | 12.02× | ||
| Q3 24 | 1.46× | — | ||
| 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% |
MBUU
| Boatand Trailer Sales | $68.1M | 36% |
| Saltwater Fishing | $65.3M | 35% |
| Cobalt | $52.6M | 28% |
| Part And Other Sales | $2.6M | 1% |
