vs
Forestar Group Inc.（FOR）与如新（NUS）财务数据对比。点击上方公司名可切换其他公司
如新的季度营收约是Forestar Group Inc.的1.4倍（$370.3M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs 3.9%，领先1.7%），Forestar Group Inc.同比增速更快（9.0% vs -16.9%），如新自由现金流更多（$5.9M vs $-157.1M），过去两年如新的营收复合增速更高（-5.8% 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。
如新企业集团是一家美国多层次直销企业，主打研发并销售个人护理产品与营养膳食补充产品，旗下拥有Nu Skin及Pharmanex两大品牌，目前已在全球54个市场开展业务，依托约120万独立销售代表的销售网络覆盖全球市场。
FOR vs NUS — 直观对比
营收规模更大
NUS
是对方的1.4倍
$273.0M
营收增速更快
FOR
高出25.9%
-16.9%
净利率更高
FOR
高出1.7%
3.9%
自由现金流更多
NUS
多$163.0M
$-157.1M
两年增速更快
NUS
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $370.3M |
| 净利润 | $15.4M | $14.5M |
| 毛利率 | 20.1% | 70.7% |
| 营业利润率 | 7.6% | 6.3% |
| 净利率 | 5.6% | 3.9% |
| 营收同比 | 9.0% | -16.9% |
| 净利润同比 | -6.7% | 140.1% |
| 每股收益（稀释后） | $0.30 | $0.27 |
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FORNUS
| Q4 25 | $273.0M | $370.3M | ||
| Q3 25 | $670.5M | $364.2M | ||
| Q2 25 | $390.5M | $386.1M | ||
| Q1 25 | $351.0M | $364.5M | ||
| Q4 24 | $250.4M | $445.6M | ||
| Q3 24 | $551.3M | $430.1M | ||
| Q2 24 | $318.4M | $439.1M | ||
| Q1 24 | $333.8M | $417.3M |
净利润FORNUS
| Q4 25 | $15.4M | $14.5M | ||
| Q3 25 | $86.9M | $17.1M | ||
| Q2 25 | $32.9M | $21.1M | ||
| Q1 25 | $31.6M | $107.5M | ||
| Q4 24 | $16.5M | $-36.1M | ||
| Q3 24 | $81.5M | $8.3M | ||
| Q2 24 | $38.7M | $-118.3M | ||
| Q1 24 | $45.0M | $-533.0K |
毛利率FORNUS
| Q4 25 | 20.1% | 70.7% | ||
| Q3 25 | 22.3% | 70.5% | ||
| Q2 25 | 20.4% | 68.8% | ||
| Q1 25 | 22.6% | 67.8% | ||
| Q4 24 | 22.0% | 62.7% | ||
| Q3 24 | 23.9% | 70.1% | ||
| Q2 24 | 22.5% | 70.0% | ||
| Q1 24 | 24.9% | 70.5% |
营业利润率FORNUS
| Q4 25 | 7.6% | 6.3% | ||
| Q3 25 | 16.9% | 5.9% | ||
| Q2 25 | 11.2% | 8.0% | ||
| Q1 25 | 11.6% | -2.7% | ||
| Q4 24 | 8.7% | -11.9% | ||
| Q3 24 | 19.7% | 4.2% | ||
| Q2 24 | 16.2% | -28.6% | ||
| Q1 24 | 17.6% | 2.1% |
净利率FORNUS
| Q4 25 | 5.6% | 3.9% | ||
| Q3 25 | 13.0% | 4.7% | ||
| Q2 25 | 8.4% | 5.5% | ||
| Q1 25 | 9.0% | 29.5% | ||
| Q4 24 | 6.6% | -8.1% | ||
| Q3 24 | 14.8% | 1.9% | ||
| Q2 24 | 12.2% | -26.9% | ||
| Q1 24 | 13.5% | -0.1% |
每股收益（稀释后）FORNUS
| Q4 25 | $0.30 | $0.27 | ||
| Q3 25 | $1.70 | $0.34 | ||
| Q2 25 | $0.65 | $0.43 | ||
| Q1 25 | $0.62 | $2.14 | ||
| Q4 24 | $0.32 | $-0.73 | ||
| Q3 24 | $1.59 | $0.17 | ||
| Q2 24 | $0.76 | $-2.38 | ||
| Q1 24 | $0.89 | $-0.01 |
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 | $239.8M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $805.2M |
| 总资产 | $3.2B | $1.4B |
| 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FORNUS
| Q4 25 | $211.7M | $239.8M | ||
| Q3 25 | $379.2M | $253.0M | ||
| Q2 25 | $189.2M | $265.4M | ||
| Q1 25 | $174.3M | $213.6M | ||
| Q4 24 | $132.0M | $198.0M | ||
| Q3 24 | $481.2M | $237.8M | ||
| Q2 24 | $359.2M | $232.9M | ||
| Q1 24 | $416.2M | $221.2M |
总债务FORNUS
| 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FORNUS
| Q4 25 | $1.8B | $805.2M | ||
| Q3 25 | $1.8B | $799.8M | ||
| Q2 25 | $1.7B | $787.8M | ||
| Q1 25 | $1.6B | $754.0M | ||
| Q4 24 | $1.6B | $651.5M | ||
| Q3 24 | $1.6B | $706.9M | ||
| Q2 24 | $1.5B | $686.2M | ||
| Q1 24 | $1.5B | $810.2M |
总资产FORNUS
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $3.1B | $1.4B | ||
| Q2 25 | $3.1B | $1.4B | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.7B |
负债/权益比FORNUS
| 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 | $16.6M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $5.9M |
| 自由现金流率自由现金流/营收 | -57.5% | 1.6% |
| 资本支出强度资本支出/营收 | 0.0% | 2.9% |
| 现金转化率经营现金流/净利润 | -10.19× | 1.15× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $46.0M |
8季度趋势，按日历期对齐
经营现金流FORNUS
| Q4 25 | $-157.0M | $16.6M | ||
| Q3 25 | $256.3M | $27.5M | ||
| Q2 25 | $15.8M | $35.8M | ||
| Q1 25 | $-19.8M | $389.0K | ||
| Q4 24 | $-450.0M | $25.8M | ||
| Q3 24 | $119.2M | $31.4M | ||
| Q2 24 | $-61.7M | $51.2M | ||
| Q1 24 | $-59.2M | $3.3M |
自由现金流FORNUS
| Q4 25 | $-157.1M | $5.9M | ||
| Q3 25 | $255.6M | $17.6M | ||
| Q2 25 | $15.0M | $35.8M | ||
| Q1 25 | $-20.5M | $-13.2M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $118.4M | $22.8M | ||
| Q2 24 | $-62.3M | $43.1M | ||
| Q1 24 | $-59.8M | $-9.0M |
自由现金流率FORNUS
| Q4 25 | -57.5% | 1.6% | ||
| Q3 25 | 38.1% | 4.8% | ||
| Q2 25 | 3.8% | 9.3% | ||
| Q1 25 | -5.8% | -3.6% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 21.5% | 5.3% | ||
| Q2 24 | -19.6% | 9.8% | ||
| Q1 24 | -17.9% | -2.1% |
资本支出强度FORNUS
| Q4 25 | 0.0% | 2.9% | ||
| Q3 25 | 0.1% | 2.7% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.2% | 3.7% | ||
| Q4 24 | 0.0% | 2.8% | ||
| Q3 24 | 0.1% | 2.0% | ||
| Q2 24 | 0.2% | 1.9% | ||
| Q1 24 | 0.2% | 2.9% |
现金转化率FORNUS
| Q4 25 | -10.19× | 1.15× | ||
| Q3 25 | 2.95× | 1.61× | ||
| Q2 25 | 0.48× | 1.69× | ||
| Q1 25 | -0.63× | 0.00× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 3.79× | ||
| 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% |
NUS
| Other | $161.9M | 44% |
| Mainland China Segment | $52.0M | 14% |
| Southeast Asia Pacific Segment | $50.5M | 14% |
| Europe And Africa Segment | $41.8M | 11% |
| Hong Kong Taiwan Segment | $29.6M | 8% |
| South Korea Segment | $28.4M | 8% |
| Rhyz Other Segment | $6.1M | 2% |
