vs
Forestar Group Inc.（FOR）与Marqeta, Inc.（MQ）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Marqeta, Inc.的1.6倍（$273.0M vs $172.1M），Marqeta, Inc.同比增速更快（26.7% vs 9.0%），Marqeta, Inc.自由现金流更多（$53.2M vs $-157.1M），过去两年Marqeta, Inc.的营收复合增速更高（20.8% 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。
Marqeta, Inc.运营云原生开放API平台，提供现代发卡与数字支付处理服务，可赋能金融科技初创企业、大型零售商及企业客户推出定制化实体、虚拟支付卡及嵌入式金融解决方案，服务覆盖全球消费及商业市场。
FOR vs MQ — 直观对比
营收规模更大
FOR
是对方的1.6倍
$172.1M
营收增速更快
MQ
高出17.7%
9.0%
自由现金流更多
MQ
多$210.3M
$-157.1M
两年增速更快
MQ
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $172.1M |
| 净利润 | $15.4M | — |
| 毛利率 | 20.1% | 69.7% |
| 营业利润率 | 7.6% | -4.8% |
| 净利率 | 5.6% | — |
| 营收同比 | 9.0% | 26.7% |
| 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FORMQ
| Q4 25 | $273.0M | $172.1M | ||
| Q3 25 | $670.5M | $163.3M | ||
| Q2 25 | $390.5M | $150.4M | ||
| Q1 25 | $351.0M | $139.1M | ||
| Q4 24 | $250.4M | $135.8M | ||
| Q3 24 | $551.3M | $128.0M | ||
| Q2 24 | $318.4M | $125.3M | ||
| Q1 24 | $333.8M | $118.0M |
净利润FORMQ
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $-3.6M | ||
| Q2 25 | $32.9M | $-647.0K | ||
| Q1 25 | $31.6M | $-8.3M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $-28.6M | ||
| Q2 24 | $38.7M | $119.1M | ||
| Q1 24 | $45.0M | $-36.1M |
毛利率FORMQ
| Q4 25 | 20.1% | 69.7% | ||
| Q3 25 | 22.3% | 70.1% | ||
| Q2 25 | 20.4% | 69.2% | ||
| Q1 25 | 22.6% | 71.0% | ||
| Q4 24 | 22.0% | 72.3% | ||
| Q3 24 | 23.9% | 70.4% | ||
| Q2 24 | 22.5% | 63.3% | ||
| Q1 24 | 24.9% | 71.3% |
营业利润率FORMQ
| Q4 25 | 7.6% | -4.8% | ||
| Q3 25 | 16.9% | -6.4% | ||
| Q2 25 | 11.2% | -6.1% | ||
| Q1 25 | 11.6% | -13.3% | ||
| Q4 24 | 8.7% | -27.6% | ||
| Q3 24 | 19.7% | -33.0% | ||
| Q2 24 | 16.2% | 83.9% | ||
| Q1 24 | 17.6% | -42.3% |
净利率FORMQ
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | -2.2% | ||
| Q2 25 | 8.4% | -0.4% | ||
| Q1 25 | 9.0% | -5.9% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | -22.4% | ||
| Q2 24 | 12.2% | 95.1% | ||
| Q1 24 | 13.5% | -30.6% |
每股收益（稀释后）FORMQ
| 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 | $709.4M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $762.0M |
| 总资产 | $3.2B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
现金及短期投资FORMQ
| Q4 25 | $211.7M | $709.4M | ||
| Q3 25 | $379.2M | $747.2M | ||
| Q2 25 | $189.2M | $732.7M | ||
| Q1 25 | $174.3M | $830.9M | ||
| Q4 24 | $132.0M | $923.0M | ||
| Q3 24 | $481.2M | $886.4M | ||
| Q2 24 | $359.2M | $924.7M | ||
| Q1 24 | $416.2M | $970.4M |
总债务FORMQ
| 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 | — |
股东权益FORMQ
| Q4 25 | $1.8B | $762.0M | ||
| Q3 25 | $1.8B | $839.2M | ||
| Q2 25 | $1.7B | $843.4M | ||
| Q1 25 | $1.6B | $987.3M | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.5B | $1.2B |
总资产FORMQ
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.1B | $1.5B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.6B | $1.6B |
负债/权益比FORMQ
| 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 | $53.3M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $53.2M |
| 自由现金流率自由现金流/营收 | -57.5% | 30.9% |
| 资本支出强度资本支出/营收 | 0.0% | 0.1% |
| 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 | $160.5M |
8季度趋势，按日历期对齐
经营现金流FORMQ
| Q4 25 | $-157.0M | $53.3M | ||
| Q3 25 | $256.3M | $86.8M | ||
| Q2 25 | $15.8M | $12.5M | ||
| Q1 25 | $-19.8M | $10.0M | ||
| Q4 24 | $-450.0M | $24.8M | ||
| Q3 24 | $119.2M | $7.3M | ||
| Q2 24 | $-61.7M | $25.7M | ||
| Q1 24 | $-59.2M | $426.0K |
自由现金流FORMQ
| Q4 25 | $-157.1M | $53.2M | ||
| Q3 25 | $255.6M | $86.4M | ||
| Q2 25 | $15.0M | $12.2M | ||
| Q1 25 | $-20.5M | $8.7M | ||
| Q4 24 | — | $24.7M | ||
| Q3 24 | $118.4M | $7.1M | ||
| Q2 24 | $-62.3M | $24.7M | ||
| Q1 24 | $-59.8M | $-765.0K |
自由现金流率FORMQ
| Q4 25 | -57.5% | 30.9% | ||
| Q3 25 | 38.1% | 52.9% | ||
| Q2 25 | 3.8% | 8.1% | ||
| Q1 25 | -5.8% | 6.3% | ||
| Q4 24 | — | 18.2% | ||
| Q3 24 | 21.5% | 5.5% | ||
| Q2 24 | -19.6% | 19.7% | ||
| Q1 24 | -17.9% | -0.6% |
资本支出强度FORMQ
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.1% | 0.2% | ||
| Q2 25 | 0.2% | 0.2% | ||
| Q1 25 | 0.2% | 0.9% | ||
| Q4 24 | 0.0% | 0.0% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.2% | 0.8% | ||
| Q1 24 | 0.2% | 1.0% |
现金转化率FORMQ
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | 0.22× | ||
| 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% |
MQ
| Platform Service Revenue Net | $163.4M | 95% |
| Other Services Revenue | $8.8M | 5% |
