vs
Forestar Group Inc.（FOR）与National Energy Services Reunited Corp.（NESR）财务数据对比。点击上方公司名可切换其他公司
National Energy Services Reunited Corp.的季度营收约是Forestar Group Inc.的1.1倍（$295.3M vs $273.0M），National Energy Services Reunited Corp.净利率更高（6.0% vs 5.6%，领先0.4%），Forestar Group Inc.同比增速更快（9.0% vs -12.2%），National Energy Services Reunited Corp.自由现金流更多（$-34.1M vs $-157.1M）
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。
National Energy Services Reunited Corp.是一家领先的综合油田服务供应商，为油气上游运营商提供钻井建设、完井、生产运营及干预作业等全系列解决方案，核心市场覆盖中东、北非及东亚地区，服务各国国家石油公司及国际能源客户。
FOR vs NESR — 直观对比
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $295.3M |
| 净利润 | $15.4M | $17.7M |
| 毛利率 | 20.1% | 12.0% |
| 营业利润率 | 7.6% | 6.6% |
| 净利率 | 5.6% | 6.0% |
| 营收同比 | 9.0% | -12.2% |
| 净利润同比 | -6.7% | -14.0% |
| 每股收益（稀释后） | $0.30 | $0.18 |
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
| Q4 25 | $273.0M | — | ||
| Q3 25 | $670.5M | $295.3M | ||
| Q2 25 | $390.5M | $327.4M | ||
| Q1 25 | $351.0M | $303.1M | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $551.3M | $336.2M | ||
| Q2 24 | $318.4M | $325.0M | ||
| Q1 24 | $333.8M | — |
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $17.7M | ||
| Q2 25 | $32.9M | $15.2M | ||
| Q1 25 | $31.6M | $10.4M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $20.6M | ||
| Q2 24 | $38.7M | $18.9M | ||
| Q1 24 | $45.0M | — |
| Q4 25 | 20.1% | — | ||
| Q3 25 | 22.3% | 12.0% | ||
| Q2 25 | 20.4% | 13.4% | ||
| Q1 25 | 22.6% | 12.4% | ||
| Q4 24 | 22.0% | — | ||
| Q3 24 | 23.9% | 15.9% | ||
| Q2 24 | 22.5% | 16.4% | ||
| Q1 24 | 24.9% | — |
| Q4 25 | 7.6% | — | ||
| Q3 25 | 16.9% | 6.6% | ||
| Q2 25 | 11.2% | 8.3% | ||
| Q1 25 | 11.6% | 6.9% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 19.7% | 10.5% | ||
| Q2 24 | 16.2% | 10.5% | ||
| Q1 24 | 17.6% | — |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 6.0% | ||
| Q2 25 | 8.4% | 4.6% | ||
| Q1 25 | 9.0% | 3.4% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | 6.1% | ||
| Q2 24 | 12.2% | 5.8% | ||
| Q1 24 | 13.5% | — |
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | $0.18 | ||
| Q2 25 | $0.65 | $0.16 | ||
| Q1 25 | $0.62 | $0.11 | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | $0.22 | ||
| Q2 24 | $0.76 | $0.20 | ||
| 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 | $69.7M |
| 总债务越低越好 | $793.2M | $274.1M |
| 股东权益账面价值 | $1.8B | $956.7M |
| 总资产 | $3.2B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.29× |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | $69.7M | ||
| Q2 25 | $189.2M | $131.8M | ||
| Q1 25 | $174.3M | $78.7M | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | $118.2M | ||
| Q2 24 | $359.2M | $75.0M | ||
| Q1 24 | $416.2M | — |
| Q4 25 | $793.2M | — | ||
| Q3 25 | $802.7M | $274.1M | ||
| Q2 25 | $872.8M | $291.7M | ||
| Q1 25 | $872.5M | $309.2M | ||
| Q4 24 | $806.8M | — | ||
| Q3 24 | $706.4M | $358.7M | ||
| Q2 24 | $706.1M | $376.7M | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $956.7M | ||
| Q2 25 | $1.7B | $936.9M | ||
| Q1 25 | $1.6B | $920.5M | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | $873.5M | ||
| Q2 24 | $1.5B | $851.4M | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $2.8B | $1.8B | ||
| Q2 24 | $2.7B | $1.8B | ||
| Q1 24 | $2.6B | — |
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | 0.29× | ||
| Q2 25 | 0.52× | 0.31× | ||
| Q1 25 | 0.53× | 0.34× | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.44× | 0.41× | ||
| Q2 24 | 0.47× | 0.44× | ||
| 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 | $6.7M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $-34.1M |
| 自由现金流率自由现金流/营收 | -57.5% | -11.5% |
| 资本支出强度资本支出/营收 | 0.0% | 13.8% |
| 现金转化率经营现金流/净利润 | -10.19× | 0.38× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $68.5M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | — | ||
| Q3 25 | $256.3M | $6.7M | ||
| Q2 25 | $15.8M | $98.5M | ||
| Q1 25 | $-19.8M | $20.5M | ||
| Q4 24 | $-450.0M | — | ||
| Q3 24 | $119.2M | $70.8M | ||
| Q2 24 | $-61.7M | — | ||
| Q1 24 | $-59.2M | — |
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | $-34.1M | ||
| Q2 25 | $15.0M | $68.7M | ||
| Q1 25 | $-20.5M | $-9.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | $43.4M | ||
| Q2 24 | $-62.3M | — | ||
| Q1 24 | $-59.8M | — |
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | -11.5% | ||
| Q2 25 | 3.8% | 21.0% | ||
| Q1 25 | -5.8% | -3.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | 12.9% | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -17.9% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | 13.8% | ||
| Q2 25 | 0.2% | 9.1% | ||
| Q1 25 | 0.2% | 9.9% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | 8.1% | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 0.38× | ||
| Q2 25 | 0.48× | 6.48× | ||
| Q1 25 | -0.63× | 1.97× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 3.43× | ||
| 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% |
NESR
| Production Services | $174.4M | 59% |
| Drilling And Evaluation Services | $120.9M | 41% |
