vs
Forestar Group Inc.（FOR）与NATIONAL FUEL GAS CO（NFG）财务数据对比。点击上方公司名可切换其他公司
NATIONAL FUEL GAS CO的季度营收约是Forestar Group Inc.的1.6倍（$425.9M vs $273.0M），NATIONAL FUEL GAS CO净利率更高（35.7% vs 5.6%，领先30.1%），Forestar Group Inc.同比增速更快（9.0% vs 1.7%），过去两年NATIONAL FUEL GAS CO的营收复合增速更高（12.1% 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。
该多元化能源企业成立于1902年，总部位于美国纽约州威廉斯维尔，总资产达62亿美元，下设勘探与生产、管道与存储、燃气集输、公用事业、能源营销五大运营板块，业务覆盖能源产业链上下游多个核心环节。
FOR vs NFG — 直观对比
营收规模更大
NFG
是对方的1.6倍
$273.0M
营收增速更快
FOR
高出7.3%
1.7%
净利率更高
NFG
高出30.1%
5.6%
两年增速更快
NFG
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $425.9M |
| 净利润 | $15.4M | $152.0M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 81.5% |
| 净利率 | 5.6% | 35.7% |
| 营收同比 | 9.0% | 1.7% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | $1.59 |
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FORNFG
| Q1 26 | — | $425.9M | ||
| Q4 25 | $273.0M | $637.9M | ||
| Q3 25 | $670.5M | $443.1M | ||
| Q2 25 | $390.5M | $527.4M | ||
| Q1 25 | $351.0M | $734.8M | ||
| Q4 24 | $250.4M | $513.8M | ||
| Q3 24 | $551.3M | $310.0M | ||
| Q2 24 | $318.4M | $338.6M |
净利润FORNFG
| Q1 26 | — | $152.0M | ||
| Q4 25 | $15.4M | $181.6M | ||
| Q3 25 | $86.9M | $107.3M | ||
| Q2 25 | $32.9M | $149.8M | ||
| Q1 25 | $31.6M | $216.4M | ||
| Q4 24 | $16.5M | $45.0M | ||
| Q3 24 | $81.5M | $-167.6M | ||
| Q2 24 | $38.7M | $-54.2M |
毛利率FORNFG
| Q1 26 | — | — | ||
| Q4 25 | 20.1% | 86.6% | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 20.4% | 94.7% | ||
| Q1 25 | 22.6% | 81.6% | ||
| Q4 24 | 22.0% | 87.3% | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 22.5% | 98.5% |
营业利润率FORNFG
| Q1 26 | — | 81.5% | ||
| Q4 25 | 7.6% | 43.3% | ||
| Q3 25 | 16.9% | 40.6% | ||
| Q2 25 | 11.2% | 43.7% | ||
| Q1 25 | 11.6% | 43.2% | ||
| Q4 24 | 8.7% | 16.8% | ||
| Q3 24 | 19.7% | -63.4% | ||
| Q2 24 | 16.2% | -15.2% |
净利率FORNFG
| Q1 26 | — | 35.7% | ||
| Q4 25 | 5.6% | 28.5% | ||
| Q3 25 | 13.0% | 24.2% | ||
| Q2 25 | 8.4% | 28.4% | ||
| Q1 25 | 9.0% | 29.4% | ||
| Q4 24 | 6.6% | 8.8% | ||
| Q3 24 | 14.8% | -54.1% | ||
| Q2 24 | 12.2% | -16.0% |
每股收益（稀释后）FORNFG
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.30 | $1.98 | ||
| Q3 25 | $1.70 | $1.18 | ||
| Q2 25 | $0.65 | $1.64 | ||
| Q1 25 | $0.62 | $2.37 | ||
| Q4 24 | $0.32 | $0.49 | ||
| Q3 24 | $1.59 | $-1.81 | ||
| Q2 24 | $0.76 | $-0.59 |
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 | — |
| 总债务越低越好 | $793.2M | $300.0M |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $3.2B | $9.1B |
| 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FORNFG
| Q1 26 | — | — | ||
| Q4 25 | $211.7M | $271.4M | ||
| Q3 25 | $379.2M | $43.2M | ||
| Q2 25 | $189.2M | $39.3M | ||
| Q1 25 | $174.3M | $40.0M | ||
| Q4 24 | $132.0M | $48.7M | ||
| Q3 24 | $481.2M | $38.2M | ||
| Q2 24 | $359.2M | $81.4M |
总债务FORNFG
| Q1 26 | — | $300.0M | ||
| Q4 25 | $793.2M | $2.7B | ||
| Q3 25 | $802.7M | $2.7B | ||
| Q2 25 | $872.8M | $2.7B | ||
| Q1 25 | $872.5M | $2.7B | ||
| Q4 24 | $806.8M | $2.7B | ||
| Q3 24 | $706.4M | $2.7B | ||
| Q2 24 | $706.1M | $2.7B |
股东权益FORNFG
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $3.6B | ||
| Q3 25 | $1.8B | $3.1B | ||
| Q2 25 | $1.7B | $3.0B | ||
| Q1 25 | $1.6B | $2.8B | ||
| Q4 24 | $1.6B | $-76.2M | ||
| Q3 24 | $1.6B | $-15.5M | ||
| Q2 24 | $1.5B | $5.0M |
总资产FORNFG
| Q1 26 | — | $9.1B | ||
| Q4 25 | $3.2B | $9.2B | ||
| Q3 25 | $3.1B | $8.7B | ||
| Q2 25 | $3.1B | $8.4B | ||
| Q1 25 | $3.0B | $8.5B | ||
| Q4 24 | $3.0B | $8.3B | ||
| Q3 24 | $2.8B | $8.3B | ||
| Q2 24 | $2.7B | $8.5B |
负债/权益比FORNFG
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 0.75× | ||
| Q3 25 | 0.45× | 0.87× | ||
| Q2 25 | 0.52× | 0.90× | ||
| Q1 25 | 0.53× | 0.99× | ||
| Q4 24 | 0.50× | — | ||
| Q3 24 | 0.44× | — | ||
| Q2 24 | 0.47× | 532.10× |
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 | $657.3M |
| 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% | 117.0% |
| 现金转化率经营现金流/净利润 | -10.19× | 4.32× |
| 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FORNFG
| Q1 26 | — | $657.3M | ||
| Q4 25 | $-157.0M | $274.9M | ||
| Q3 25 | $256.3M | $237.8M | ||
| Q2 25 | $15.8M | $388.4M | ||
| Q1 25 | $-19.8M | $253.8M | ||
| Q4 24 | $-450.0M | $220.1M | ||
| Q3 24 | $119.2M | $197.9M | ||
| Q2 24 | $-61.7M | $281.8M |
自由现金流FORNFG
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $-2.7M | ||
| Q3 25 | $255.6M | $-47.8M | ||
| Q2 25 | $15.0M | $195.3M | ||
| Q1 25 | $-20.5M | $59.9M | ||
| Q4 24 | — | $-20.3M | ||
| Q3 24 | $118.4M | $-49.1M | ||
| Q2 24 | $-62.3M | $79.5M |
自由现金流率FORNFG
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | -0.4% | ||
| Q3 25 | 38.1% | -10.8% | ||
| Q2 25 | 3.8% | 37.0% | ||
| Q1 25 | -5.8% | 8.2% | ||
| Q4 24 | — | -4.0% | ||
| Q3 24 | 21.5% | -15.8% | ||
| Q2 24 | -19.6% | 23.5% |
资本支出强度FORNFG
| Q1 26 | — | 117.0% | ||
| Q4 25 | 0.0% | 43.5% | ||
| Q3 25 | 0.1% | 64.4% | ||
| Q2 25 | 0.2% | 36.6% | ||
| Q1 25 | 0.2% | 26.4% | ||
| Q4 24 | 0.0% | 46.8% | ||
| Q3 24 | 0.1% | 79.7% | ||
| Q2 24 | 0.2% | 59.7% |
现金转化率FORNFG
| Q1 26 | — | 4.32× | ||
| Q4 25 | -10.19× | 1.51× | ||
| Q3 25 | 2.95× | 2.21× | ||
| Q2 25 | 0.48× | 2.59× | ||
| Q1 25 | -0.63× | 1.17× | ||
| Q4 24 | -27.27× | 4.89× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — |
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% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
