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Forestar Group Inc.（FOR）与UNIVERSAL DISPLAY CORP \PA\（OLED）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UNIVERSAL DISPLAY CORP \PA\的1.9倍（$273.0M vs $142.2M），UNIVERSAL DISPLAY CORP \PA\净利率更高（25.2% vs 5.6%，领先19.6%），Forestar Group Inc.同比增速更快（9.0% vs -14.5%），过去两年UNIVERSAL DISPLAY CORP \PA\的营收复合增速更高（-5.3% 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。
Universal Display Corporation（股票代码OLED）是有机发光二极管（OLED）技术及材料的研发与生产企业，拥有深厚的技术积累，面向显示、照明两大领域提供相关配套服务，是全球OLED上游产业链的核心供应商之一。
FOR vs OLED — 直观对比
营收规模更大
FOR
是对方的1.9倍
$142.2M
营收增速更快
FOR
高出23.5%
-14.5%
净利率更高
OLED
高出19.6%
5.6%
两年增速更快
OLED
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $142.2M |
| 净利润 | $15.4M | $35.9M |
| 毛利率 | 20.1% | 74.6% |
| 营业利润率 | 7.6% | 30.1% |
| 净利率 | 5.6% | 25.2% |
| 营收同比 | 9.0% | -14.5% |
| 净利润同比 | -6.7% | -44.3% |
| 每股收益（稀释后） | $0.30 | $0.76 |
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FOROLED
| Q1 26 | — | $142.2M | ||
| Q4 25 | $273.0M | $172.9M | ||
| Q3 25 | $670.5M | $139.6M | ||
| Q2 25 | $390.5M | $171.8M | ||
| Q1 25 | $351.0M | $166.3M | ||
| Q4 24 | $250.4M | $162.3M | ||
| Q3 24 | $551.3M | $161.6M | ||
| Q2 24 | $318.4M | $158.5M |
净利润FOROLED
| Q1 26 | — | $35.9M | ||
| Q4 25 | $15.4M | $66.3M | ||
| Q3 25 | $86.9M | $44.0M | ||
| Q2 25 | $32.9M | $67.3M | ||
| Q1 25 | $31.6M | $64.4M | ||
| Q4 24 | $16.5M | $46.0M | ||
| Q3 24 | $81.5M | $66.9M | ||
| Q2 24 | $38.7M | $52.3M |
毛利率FOROLED
| Q1 26 | — | 74.6% | ||
| Q4 25 | 20.1% | 76.1% | ||
| Q3 25 | 22.3% | 74.6% | ||
| Q2 25 | 20.4% | 77.2% | ||
| Q1 25 | 22.6% | 77.1% | ||
| Q4 24 | 22.0% | 77.0% | ||
| Q3 24 | 23.9% | 77.8% | ||
| Q2 24 | 22.5% | 75.8% |
营业利润率FOROLED
| Q1 26 | — | 30.1% | ||
| Q4 25 | 7.6% | 38.9% | ||
| Q3 25 | 16.9% | 30.9% | ||
| Q2 25 | 11.2% | 39.9% | ||
| Q1 25 | 11.6% | 41.9% | ||
| Q4 24 | 8.7% | 32.3% | ||
| Q3 24 | 19.7% | 41.5% | ||
| Q2 24 | 16.2% | 35.6% |
净利率FOROLED
| Q1 26 | — | 25.2% | ||
| Q4 25 | 5.6% | 38.4% | ||
| Q3 25 | 13.0% | 31.5% | ||
| Q2 25 | 8.4% | 39.2% | ||
| Q1 25 | 9.0% | 38.8% | ||
| Q4 24 | 6.6% | 28.4% | ||
| Q3 24 | 14.8% | 41.4% | ||
| Q2 24 | 12.2% | 33.0% |
每股收益（稀释后）FOROLED
| Q1 26 | — | $0.76 | ||
| Q4 25 | $0.30 | $1.40 | ||
| Q3 25 | $1.70 | $0.92 | ||
| Q2 25 | $0.65 | $1.41 | ||
| Q1 25 | $0.62 | $1.35 | ||
| Q4 24 | $0.32 | $0.96 | ||
| Q3 24 | $1.59 | $1.40 | ||
| Q2 24 | $0.76 | $1.10 |
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 | $516.4M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $3.2B | $1.9B |
| 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FOROLED
| Q1 26 | — | $516.4M | ||
| Q4 25 | $211.7M | $602.4M | ||
| Q3 25 | $379.2M | $603.0M | ||
| Q2 25 | $189.2M | $525.2M | ||
| Q1 25 | $174.3M | $571.3M | ||
| Q4 24 | $132.0M | $492.7M | ||
| Q3 24 | $481.2M | $551.6M | ||
| Q2 24 | $359.2M | $530.5M |
总债务FOROLED
| Q1 26 | — | — | ||
| 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 | — |
股东权益FOROLED
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.8B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.6B | $1.7B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.5B |
总资产FOROLED
| Q1 26 | — | $1.9B | ||
| Q4 25 | $3.2B | $2.0B | ||
| Q3 25 | $3.1B | $1.9B | ||
| Q2 25 | $3.1B | $1.9B | ||
| Q1 25 | $3.0B | $1.9B | ||
| Q4 24 | $3.0B | $1.8B | ||
| Q3 24 | $2.8B | $1.8B | ||
| Q2 24 | $2.7B | $1.8B |
负债/权益比FOROLED
| Q1 26 | — | — | ||
| 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× | — |
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 | $108.9M |
| 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% | — |
| 现金转化率经营现金流/净利润 | -10.19× | 3.03× |
| 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FOROLED
| Q1 26 | — | $108.9M | ||
| Q4 25 | $-157.0M | $31.1M | ||
| Q3 25 | $256.3M | $97.2M | ||
| Q2 25 | $15.8M | $51.9M | ||
| Q1 25 | $-19.8M | $30.6M | ||
| Q4 24 | $-450.0M | $34.7M | ||
| Q3 24 | $119.2M | $79.9M | ||
| Q2 24 | $-61.7M | $67.0M |
自由现金流FOROLED
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $15.1M | ||
| Q3 25 | $255.6M | $84.3M | ||
| Q2 25 | $15.0M | $37.5M | ||
| Q1 25 | $-20.5M | $17.5M | ||
| Q4 24 | — | $22.0M | ||
| Q3 24 | $118.4M | $66.2M | ||
| Q2 24 | $-62.3M | $57.9M |
自由现金流率FOROLED
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | 8.7% | ||
| Q3 25 | 38.1% | 60.4% | ||
| Q2 25 | 3.8% | 21.8% | ||
| Q1 25 | -5.8% | 10.5% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 21.5% | 41.0% | ||
| Q2 24 | -19.6% | 36.5% |
资本支出强度FOROLED
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 9.3% | ||
| Q3 25 | 0.1% | 9.2% | ||
| Q2 25 | 0.2% | 8.4% | ||
| Q1 25 | 0.2% | 7.9% | ||
| Q4 24 | 0.0% | 7.8% | ||
| Q3 24 | 0.1% | 8.4% | ||
| Q2 24 | 0.2% | 5.8% |
现金转化率FOROLED
| Q1 26 | — | 3.03× | ||
| Q4 25 | -10.19× | 0.47× | ||
| Q3 25 | 2.95× | 2.21× | ||
| Q2 25 | 0.48× | 0.77× | ||
| Q1 25 | -0.63× | 0.47× | ||
| Q4 24 | -27.27× | 0.75× | ||
| Q3 24 | 1.46× | 1.19× | ||
| Q2 24 | -1.59× | 1.28× |
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% |
OLED
| Material sales | $83.7M | 59% |
| Royalty and license fees | $54.2M | 38% |
| Contract research services | $4.3M | 3% |
