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Forestar Group Inc.（FOR）与OneWater Marine Inc.（ONEW）财务数据对比。点击上方公司名可切换其他公司
OneWater Marine Inc.的季度营收约是Forestar Group Inc.的1.6倍（$442.3M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -2.9%，领先8.6%），Forestar Group Inc.同比增速更快（9.0% vs -8.5%），过去两年OneWater Marine Inc.的营收复合增速更高（8.2% 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。
OneWater Marine Inc.是美国头部休闲船舶零售企业，主营全新及二手船只、游艇、船舶零配件销售，同时提供船只维修保养、配套融资等服务，通过覆盖北美多州的经销商网络服务个人及商业休闲船艇客户。
FOR vs ONEW — 直观对比
营收规模更大
ONEW
是对方的1.6倍
$273.0M
营收增速更快
FOR
高出17.6%
-8.5%
净利率更高
FOR
高出8.6%
-2.9%
两年增速更快
ONEW
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $442.3M |
| 净利润 | $15.4M | $-12.9M |
| 毛利率 | 20.1% | 23.9% |
| 营业利润率 | 7.6% | 1.7% |
| 净利率 | 5.6% | -2.9% |
| 营收同比 | 9.0% | -8.5% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | $-0.78 |
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FORONEW
| Q2 26 | — | $442.3M | ||
| Q1 26 | — | $380.6M | ||
| Q4 25 | $273.0M | $380.6M | ||
| Q3 25 | $670.5M | $460.1M | ||
| Q2 25 | $390.5M | $552.9M | ||
| Q1 25 | $351.0M | $483.5M | ||
| Q4 24 | $250.4M | $375.8M | ||
| Q3 24 | $551.3M | $377.9M |
净利润FORONEW
| Q2 26 | — | $-12.9M | ||
| Q1 26 | — | $-7.7M | ||
| Q4 25 | $15.4M | $-7.7M | ||
| Q3 25 | $86.9M | $-113.0M | ||
| Q2 25 | $32.9M | $10.7M | ||
| Q1 25 | $31.6M | $-368.0K | ||
| Q4 24 | $16.5M | $-12.0M | ||
| Q3 24 | $81.5M | $-9.2M |
毛利率FORONEW
| Q2 26 | — | 23.9% | ||
| Q1 26 | — | 23.5% | ||
| Q4 25 | 20.1% | 23.5% | ||
| Q3 25 | 22.3% | 22.6% | ||
| Q2 25 | 20.4% | 23.3% | ||
| Q1 25 | 22.6% | 22.8% | ||
| Q4 24 | 22.0% | 22.4% | ||
| Q3 24 | 23.9% | 24.0% |
营业利润率FORONEW
| Q2 26 | — | 1.7% | ||
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | -1.4% | ||
| Q3 25 | 16.9% | -28.3% | ||
| Q2 25 | 11.2% | 5.5% | ||
| Q1 25 | 11.6% | 3.4% | ||
| Q4 24 | 8.7% | -0.5% | ||
| Q3 24 | 19.7% | 1.2% |
净利率FORONEW
| Q2 26 | — | -2.9% | ||
| Q1 26 | — | -2.0% | ||
| Q4 25 | 5.6% | -2.0% | ||
| Q3 25 | 13.0% | -24.5% | ||
| Q2 25 | 8.4% | 1.9% | ||
| Q1 25 | 9.0% | -0.1% | ||
| Q4 24 | 6.6% | -3.2% | ||
| Q3 24 | 14.8% | -2.4% |
每股收益（稀释后）FORONEW
| Q2 26 | — | $-0.78 | ||
| Q1 26 | — | $-0.47 | ||
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | — | ||
| Q2 25 | $0.65 | — | ||
| Q1 25 | $0.62 | — | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | — |
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 | — |
| 股东权益账面价值 | $1.8B | $269.4M |
| 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FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | — | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | — |
总债务FORONEW
| Q2 26 | — | — | ||
| 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 | — |
股东权益FORONEW
| Q2 26 | — | $269.4M | ||
| Q1 26 | — | $277.5M | ||
| Q4 25 | $1.8B | $277.5M | ||
| Q3 25 | $1.8B | $285.0M | ||
| Q2 25 | $1.7B | $393.2M | ||
| Q1 25 | $1.6B | $381.6M | ||
| Q4 24 | $1.6B | $354.8M | ||
| Q3 24 | $1.6B | $360.8M |
总资产FORONEW
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.4B | ||
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $3.1B | $1.4B | ||
| Q2 25 | $3.1B | $1.5B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $2.8B | $1.6B |
负债/权益比FORONEW
| Q2 26 | — | — | ||
| 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× | — |
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 | — |
| 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× | — |
| 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FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $-76.3M | ||
| Q3 25 | $256.3M | $9.9M | ||
| Q2 25 | $15.8M | $90.8M | ||
| Q1 25 | $-19.8M | $28.5M | ||
| Q4 24 | $-450.0M | $-37.4M | ||
| Q3 24 | $119.2M | $27.3M |
自由现金流FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $-78.2M | ||
| Q3 25 | $255.6M | $7.2M | ||
| Q2 25 | $15.0M | $88.9M | ||
| Q1 25 | $-20.5M | $23.7M | ||
| Q4 24 | — | $-40.0M | ||
| Q3 24 | $118.4M | $23.2M |
自由现金流率FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | -20.6% | ||
| Q3 25 | 38.1% | 1.6% | ||
| Q2 25 | 3.8% | 16.1% | ||
| Q1 25 | -5.8% | 4.9% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | 21.5% | 6.1% |
资本支出强度FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | 0.1% | 0.6% | ||
| Q2 25 | 0.2% | 0.4% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.1% | 1.1% |
现金转化率FORONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 8.47× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — |
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% |
ONEW
| New boat | $272.0M | 62% |
| Pre-owned boat | $94.4M | 21% |
| Service, parts & other | $61.9M | 14% |
| Finance & insurance income | $14.0M | 3% |
