vs
Forestar Group Inc.（FOR）与MARCUS CORP（MCS）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MARCUS CORP的1.4倍（$273.0M vs $193.5M），Forestar Group Inc.同比增速更快（9.0% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $-157.1M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
FOR vs MCS — 直观对比
营收规模更大
FOR
是对方的1.4倍
$193.5M
营收增速更快
FOR
高出6.3%
2.8%
自由现金流更多
MCS
多$183.5M
$-157.1M
两年增速更快
MCS
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $193.5M |
| 净利润 | $15.4M | — |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 0.9% |
| 净利率 | 5.6% | — |
| 营收同比 | 9.0% | 2.8% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | — |
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FORMCS
| Q4 25 | $273.0M | $193.5M | ||
| Q3 25 | $670.5M | $210.2M | ||
| Q2 25 | $390.5M | $206.0M | ||
| Q1 25 | $351.0M | $148.8M | ||
| Q4 24 | $250.4M | $188.3M | ||
| Q3 24 | $551.3M | $232.7M | ||
| Q2 24 | $318.4M | $176.0M | ||
| Q1 24 | $333.8M | $138.5M |
净利润FORMCS
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $16.2M | ||
| Q2 25 | $32.9M | $7.3M | ||
| Q1 25 | $31.6M | $-16.8M | ||
| Q4 24 | $16.5M | $986.0K | ||
| Q3 24 | $81.5M | $23.3M | ||
| Q2 24 | $38.7M | $-20.2M | ||
| Q1 24 | $45.0M | $-11.9M |
毛利率FORMCS
| 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% | — | ||
| Q1 24 | 24.9% | — |
营业利润率FORMCS
| Q4 25 | 7.6% | 0.9% | ||
| Q3 25 | 16.9% | 10.8% | ||
| Q2 25 | 11.2% | 6.3% | ||
| Q1 25 | 11.6% | -13.7% | ||
| Q4 24 | 8.7% | -1.2% | ||
| Q3 24 | 19.7% | 14.1% | ||
| Q2 24 | 16.2% | 1.3% | ||
| Q1 24 | 17.6% | -12.0% |
净利率FORMCS
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 7.7% | ||
| Q2 25 | 8.4% | 3.6% | ||
| Q1 25 | 9.0% | -11.3% | ||
| Q4 24 | 6.6% | 0.5% | ||
| Q3 24 | 14.8% | 10.0% | ||
| Q2 24 | 12.2% | -11.5% | ||
| Q1 24 | 13.5% | -8.6% |
每股收益（稀释后）FORMCS
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | — | ||
| Q2 25 | $0.65 | — | ||
| Q1 25 | $0.62 | — | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | — | ||
| Q2 24 | $0.76 | — | ||
| Q1 24 | $0.89 | — |
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 | $23.4M |
| 总债务越低越好 | $793.2M | $159.0M |
| 股东权益账面价值 | $1.8B | $457.4M |
| 总资产 | $3.2B | $1.0B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FORMCS
| Q4 25 | $211.7M | $23.4M | ||
| Q3 25 | $379.2M | $7.4M | ||
| Q2 25 | $189.2M | $14.9M | ||
| Q1 25 | $174.3M | $11.9M | ||
| Q4 24 | $132.0M | $40.8M | ||
| Q3 24 | $481.2M | $28.4M | ||
| Q2 24 | $359.2M | $32.8M | ||
| Q1 24 | $416.2M | $17.3M |
总债务FORMCS
| Q4 25 | $793.2M | $159.0M | ||
| Q3 25 | $802.7M | $162.0M | ||
| Q2 25 | $872.8M | $179.9M | ||
| Q1 25 | $872.5M | $198.9M | ||
| Q4 24 | $806.8M | $159.1M | ||
| Q3 24 | $706.4M | $173.1M | ||
| Q2 24 | $706.1M | $175.7M | ||
| Q1 24 | $705.7M | $169.8M |
股东权益FORMCS
| Q4 25 | $1.8B | $457.4M | ||
| Q3 25 | $1.8B | $454.3M | ||
| Q2 25 | $1.7B | $448.4M | ||
| Q1 25 | $1.6B | $441.8M | ||
| Q4 24 | $1.6B | $464.9M | ||
| Q3 24 | $1.6B | $462.3M | ||
| Q2 24 | $1.5B | $449.4M | ||
| Q1 24 | $1.5B | $459.3M |
总资产FORMCS
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.1B | $1.0B | ||
| Q2 25 | $3.1B | $1.0B | ||
| Q1 25 | $3.0B | $1.0B | ||
| Q4 24 | $3.0B | $1.0B | ||
| Q3 24 | $2.8B | $1.0B | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $1.0B |
负债/权益比FORMCS
| Q4 25 | 0.44× | 0.35× | ||
| Q3 25 | 0.45× | 0.36× | ||
| Q2 25 | 0.52× | 0.40× | ||
| Q1 25 | 0.53× | 0.45× | ||
| Q4 24 | 0.50× | 0.34× | ||
| Q3 24 | 0.44× | 0.37× | ||
| Q2 24 | 0.47× | 0.39× | ||
| Q1 24 | 0.48× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $26.4M |
| 自由现金流率自由现金流/营收 | -57.5% | 13.6% |
| 资本支出强度资本支出/营收 | 0.0% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流FORMCS
| Q4 25 | $-157.0M | $48.8M | ||
| Q3 25 | $256.3M | $39.1M | ||
| Q2 25 | $15.8M | $31.6M | ||
| Q1 25 | $-19.8M | $-35.3M | ||
| Q4 24 | $-450.0M | $52.6M | ||
| Q3 24 | $119.2M | $30.5M | ||
| Q2 24 | $-61.7M | $36.0M | ||
| Q1 24 | $-59.2M | $-15.1M |
自由现金流FORMCS
| Q4 25 | $-157.1M | $26.4M | ||
| Q3 25 | $255.6M | $18.2M | ||
| Q2 25 | $15.0M | $14.7M | ||
| Q1 25 | $-20.5M | $-58.3M | ||
| Q4 24 | — | $27.1M | ||
| Q3 24 | $118.4M | $12.0M | ||
| Q2 24 | $-62.3M | $16.1M | ||
| Q1 24 | $-59.8M | $-30.5M |
自由现金流率FORMCS
| Q4 25 | -57.5% | 13.6% | ||
| Q3 25 | 38.1% | 8.7% | ||
| Q2 25 | 3.8% | 7.1% | ||
| Q1 25 | -5.8% | -39.2% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | 21.5% | 5.2% | ||
| Q2 24 | -19.6% | 9.2% | ||
| Q1 24 | -17.9% | -22.0% |
资本支出强度FORMCS
| Q4 25 | 0.0% | 11.6% | ||
| Q3 25 | 0.1% | 9.9% | ||
| Q2 25 | 0.2% | 8.2% | ||
| Q1 25 | 0.2% | 15.5% | ||
| Q4 24 | 0.0% | 13.5% | ||
| Q3 24 | 0.1% | 7.9% | ||
| Q2 24 | 0.2% | 11.3% | ||
| Q1 24 | 0.2% | 11.1% |
现金转化率FORMCS
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 2.41× | ||
| Q2 25 | 0.48× | 4.32× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 53.31× | ||
| Q3 24 | 1.46× | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
