vs
Forestar Group Inc.（FOR）与NATIONAL HEALTHCARE CORP（NHC）财务数据对比。点击上方公司名可切换其他公司
NATIONAL HEALTHCARE CORP的季度营收约是Forestar Group Inc.的1.4倍（$386.5M vs $273.0M），NATIONAL HEALTHCARE CORP净利率更高（6.4% vs 5.6%，领先0.8%），Forestar Group Inc.同比增速更快（9.0% vs 4.6%），NATIONAL HEALTHCARE CORP自由现金流更多（$6.4M vs $-157.1M），过去两年NATIONAL HEALTHCARE CORP的营收复合增速更高（14.0% 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。
HCA Healthcare是1968年成立的美国营利性医疗服务运营商，总部位于田纳西州纳什维尔。截至2020年5月，该公司在全美20个州及英国持有并运营186家医院，还有约2400个医疗服务网点，涵盖手术中心、独立急诊室、紧急护理中心及医师诊所，2024年位列美国财富500强第61位。
FOR vs NHC — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $386.5M |
| 净利润 | $15.4M | $24.8M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 8.6% |
| 净利率 | 5.6% | 6.4% |
| 营收同比 | 9.0% | 4.6% |
| 净利润同比 | -6.7% | 308.6% |
| 每股收益（稀释后） | $0.30 | $1.58 |
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 | $386.5M | ||
| Q3 25 | $670.5M | $382.7M | ||
| Q2 25 | $390.5M | $374.9M | ||
| Q1 25 | $351.0M | $373.7M | ||
| Q4 24 | $250.4M | $369.4M | ||
| Q3 24 | $551.3M | $340.2M | ||
| Q2 24 | $318.4M | $300.7M | ||
| Q1 24 | $333.8M | $297.2M |
| Q4 25 | $15.4M | $24.8M | ||
| Q3 25 | $86.9M | $39.2M | ||
| Q2 25 | $32.9M | $23.7M | ||
| Q1 25 | $31.6M | $32.2M | ||
| Q4 24 | $16.5M | $6.1M | ||
| Q3 24 | $81.5M | $42.8M | ||
| Q2 24 | $38.7M | $26.8M | ||
| Q1 24 | $45.0M | $26.2M |
| 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% | — |
| Q4 25 | 7.6% | 8.6% | ||
| Q3 25 | 16.9% | 7.9% | ||
| Q2 25 | 11.2% | 9.1% | ||
| Q1 25 | 11.6% | 8.2% | ||
| Q4 24 | 8.7% | 7.8% | ||
| Q3 24 | 19.7% | 6.7% | ||
| Q2 24 | 16.2% | 7.5% | ||
| Q1 24 | 17.6% | 5.3% |
| Q4 25 | 5.6% | 6.4% | ||
| Q3 25 | 13.0% | 10.3% | ||
| Q2 25 | 8.4% | 6.3% | ||
| Q1 25 | 9.0% | 8.6% | ||
| Q4 24 | 6.6% | 1.6% | ||
| Q3 24 | 14.8% | 12.6% | ||
| Q2 24 | 12.2% | 8.9% | ||
| Q1 24 | 13.5% | 8.8% |
| Q4 25 | $0.30 | $1.58 | ||
| Q3 25 | $1.70 | $2.50 | ||
| Q2 25 | $0.65 | $1.52 | ||
| Q1 25 | $0.62 | $2.07 | ||
| Q4 24 | $0.32 | $0.38 | ||
| Q3 24 | $1.59 | $2.73 | ||
| Q2 24 | $0.76 | $1.73 | ||
| Q1 24 | $0.89 | $1.69 |
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 | $92.8M |
| 总债务越低越好 | $793.2M | $40.0M |
| 股东权益账面价值 | $1.8B | $1.1B |
| 总资产 | $3.2B | $1.5B |
| 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
| Q4 25 | $211.7M | $92.8M | ||
| Q3 25 | $379.2M | $130.6M | ||
| Q2 25 | $189.2M | $111.0M | ||
| Q1 25 | $174.3M | $90.4M | ||
| Q4 24 | $132.0M | $76.1M | ||
| Q3 24 | $481.2M | $84.8M | ||
| Q2 24 | $359.2M | $136.2M | ||
| Q1 24 | $416.2M | $94.0M |
| Q4 25 | $793.2M | $40.0M | ||
| Q3 25 | $802.7M | $73.1M | ||
| Q2 25 | $872.8M | $110.0M | ||
| Q1 25 | $872.5M | $134.0M | ||
| Q4 24 | $806.8M | $137.0M | ||
| Q3 24 | $706.4M | $147.0M | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | $1.1B | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.6B | $1.0B | ||
| Q4 24 | $1.6B | $980.2M | ||
| Q3 24 | $1.6B | $983.5M | ||
| Q2 24 | $1.5B | $945.8M | ||
| Q1 24 | $1.5B | $924.7M |
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.1B | $1.6B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $3.0B | $1.5B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.3B | ||
| Q1 24 | $2.6B | $1.3B |
| Q4 25 | 0.44× | 0.04× | ||
| Q3 25 | 0.45× | 0.07× | ||
| Q2 25 | 0.52× | 0.11× | ||
| Q1 25 | 0.53× | 0.13× | ||
| Q4 24 | 0.50× | 0.14× | ||
| Q3 24 | 0.44× | 0.15× | ||
| 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 | $16.8M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $6.4M |
| 自由现金流率自由现金流/营收 | -57.5% | 1.7% |
| 资本支出强度资本支出/营收 | 0.0% | 2.7% |
| 现金转化率经营现金流/净利润 | -10.19× | 0.68× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $148.6M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | $16.8M | ||
| Q3 25 | $256.3M | $66.2M | ||
| Q2 25 | $15.8M | $62.8M | ||
| Q1 25 | $-19.8M | $39.3M | ||
| Q4 24 | $-450.0M | $12.8M | ||
| Q3 24 | $119.2M | $34.2M | ||
| Q2 24 | $-61.7M | $50.7M | ||
| Q1 24 | $-59.2M | $9.6M |
| Q4 25 | $-157.1M | $6.4M | ||
| Q3 25 | $255.6M | $56.5M | ||
| Q2 25 | $15.0M | $52.6M | ||
| Q1 25 | $-20.5M | $33.1M | ||
| Q4 24 | — | $4.6M | ||
| Q3 24 | $118.4M | $28.6M | ||
| Q2 24 | $-62.3M | $42.8M | ||
| Q1 24 | $-59.8M | $3.7M |
| Q4 25 | -57.5% | 1.7% | ||
| Q3 25 | 38.1% | 14.8% | ||
| Q2 25 | 3.8% | 14.0% | ||
| Q1 25 | -5.8% | 8.9% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | 21.5% | 8.4% | ||
| Q2 24 | -19.6% | 14.2% | ||
| Q1 24 | -17.9% | 1.2% |
| Q4 25 | 0.0% | 2.7% | ||
| Q3 25 | 0.1% | 2.5% | ||
| Q2 25 | 0.2% | 2.7% | ||
| Q1 25 | 0.2% | 1.6% | ||
| Q4 24 | 0.0% | 2.2% | ||
| Q3 24 | 0.1% | 1.7% | ||
| Q2 24 | 0.2% | 2.6% | ||
| Q1 24 | 0.2% | 2.0% |
| Q4 25 | -10.19× | 0.68× | ||
| Q3 25 | 2.95× | 1.69× | ||
| Q2 25 | 0.48× | 2.65× | ||
| Q1 25 | -0.63× | 1.22× | ||
| Q4 24 | -27.27× | 2.10× | ||
| Q3 24 | 1.46× | 0.80× | ||
| Q2 24 | -1.59× | 1.89× | ||
| Q1 24 | -1.32× | 0.37× |
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% |
NHC
| Inpatient Services Segment | $333.7M | 86% |
| Homecare Services Segment | $40.0M | 10% |
| Other | $11.2M | 3% |
| National | $1.6M | 0% |
