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Forestar Group Inc.（FOR）与ORMAT TECHNOLOGIES, INC.（ORA）财务数据对比。点击上方公司名可切换其他公司
ORMAT TECHNOLOGIES, INC.的季度营收约是Forestar Group Inc.的1.0倍（$276.0M vs $273.0M），ORMAT TECHNOLOGIES, INC.净利率更高（11.4% vs 5.6%，领先5.7%），ORMAT TECHNOLOGIES, INC.同比增速更快（19.6% vs 9.0%），ORMAT TECHNOLOGIES, INC.自由现金流更多（$-40.0M vs $-157.1M），过去两年ORMAT TECHNOLOGIES, INC.的营收复合增速更高（11.0% 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。
Ormat Technologies是总部位于美国内华达州里诺的跨国企业，主打可再生地热能源技术，累计建成超190座电站，总装机容量超3200兆瓦；截至2021年1月自主运营933兆瓦地热及余热回收电站，还向全球多国供应超千台涡轮增压器。
FOR vs ORA — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $276.0M |
| 净利润 | $15.4M | $31.4M |
| 毛利率 | 20.1% | 28.6% |
| 营业利润率 | 7.6% | 15.4% |
| 净利率 | 5.6% | 11.4% |
| 营收同比 | 9.0% | 19.6% |
| 净利润同比 | -6.7% | -23.2% |
| 每股收益（稀释后） | $0.30 | $0.51 |
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 | $276.0M | ||
| Q3 25 | $670.5M | $249.7M | ||
| Q2 25 | $390.5M | $234.0M | ||
| Q1 25 | $351.0M | $229.8M | ||
| Q4 24 | $250.4M | $230.7M | ||
| Q3 24 | $551.3M | $211.8M | ||
| Q2 24 | $318.4M | $213.0M | ||
| Q1 24 | $333.8M | $224.2M |
| Q4 25 | $15.4M | $31.4M | ||
| Q3 25 | $86.9M | $24.1M | ||
| Q2 25 | $32.9M | $28.0M | ||
| Q1 25 | $31.6M | $40.4M | ||
| Q4 24 | $16.5M | $40.8M | ||
| Q3 24 | $81.5M | $22.1M | ||
| Q2 24 | $38.7M | $22.2M | ||
| Q1 24 | $45.0M | $38.6M |
| Q4 25 | 20.1% | 28.6% | ||
| Q3 25 | 22.3% | 25.6% | ||
| Q2 25 | 20.4% | 24.3% | ||
| Q1 25 | 22.6% | 31.7% | ||
| Q4 24 | 22.0% | 31.9% | ||
| Q3 24 | 23.9% | 27.8% | ||
| Q2 24 | 22.5% | 28.8% | ||
| Q1 24 | 24.9% | 35.2% |
| Q4 25 | 7.6% | 15.4% | ||
| Q3 25 | 16.9% | 16.2% | ||
| Q2 25 | 11.2% | 15.1% | ||
| Q1 25 | 11.6% | 22.2% | ||
| Q4 24 | 8.7% | 21.3% | ||
| Q3 24 | 19.7% | 16.8% | ||
| Q2 24 | 16.2% | 16.5% | ||
| Q1 24 | 17.6% | 23.5% |
| Q4 25 | 5.6% | 11.4% | ||
| Q3 25 | 13.0% | 9.7% | ||
| Q2 25 | 8.4% | 12.0% | ||
| Q1 25 | 9.0% | 17.6% | ||
| Q4 24 | 6.6% | 17.7% | ||
| Q3 24 | 14.8% | 10.4% | ||
| Q2 24 | 12.2% | 10.4% | ||
| Q1 24 | 13.5% | 17.2% |
| Q4 25 | $0.30 | $0.51 | ||
| Q3 25 | $1.70 | $0.39 | ||
| Q2 25 | $0.65 | $0.46 | ||
| Q1 25 | $0.62 | $0.66 | ||
| Q4 24 | $0.32 | $0.67 | ||
| Q3 24 | $1.59 | $0.36 | ||
| Q2 24 | $0.76 | $0.37 | ||
| Q1 24 | $0.89 | $0.64 |
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 | $147.4M |
| 总债务越低越好 | $793.2M | $2.7B |
| 股东权益账面价值 | $1.8B | $2.5B |
| 总资产 | $3.2B | $6.2B |
| 负债/权益比越低杠杆越低 | 0.44× | 1.05× |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | $147.4M | ||
| Q3 25 | $379.2M | $79.6M | ||
| Q2 25 | $189.2M | $88.5M | ||
| Q1 25 | $174.3M | $112.7M | ||
| Q4 24 | $132.0M | $94.4M | ||
| Q3 24 | $481.2M | $88.1M | ||
| Q2 24 | $359.2M | $66.3M | ||
| Q1 24 | $416.2M | $201.5M |
| Q4 25 | $793.2M | $2.7B | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $2.3B | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.8B | $2.5B | ||
| Q2 25 | $1.7B | $2.5B | ||
| Q1 25 | $1.6B | $2.5B | ||
| Q4 24 | $1.6B | $2.4B | ||
| Q3 24 | $1.6B | $2.4B | ||
| Q2 24 | $1.5B | $2.4B | ||
| Q1 24 | $1.5B | $2.4B |
| Q4 25 | $3.2B | $6.2B | ||
| Q3 25 | $3.1B | $6.1B | ||
| Q2 25 | $3.1B | $6.0B | ||
| Q1 25 | $3.0B | $5.8B | ||
| Q4 24 | $3.0B | $5.7B | ||
| Q3 24 | $2.8B | $5.6B | ||
| Q2 24 | $2.7B | $5.5B | ||
| Q1 24 | $2.6B | $5.5B |
| Q4 25 | 0.44× | 1.05× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 0.97× | ||
| 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 | $105.0M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $-40.0M |
| 自由现金流率自由现金流/营收 | -57.5% | -14.5% |
| 资本支出强度资本支出/营收 | 0.0% | 52.6% |
| 现金转化率经营现金流/净利润 | -10.19× | 3.35× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $-284.7M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | $105.0M | ||
| Q3 25 | $256.3M | $45.2M | ||
| Q2 25 | $15.8M | $96.9M | ||
| Q1 25 | $-19.8M | $88.0M | ||
| Q4 24 | $-450.0M | $158.6M | ||
| Q3 24 | $119.2M | $106.4M | ||
| Q2 24 | $-61.7M | $30.7M | ||
| Q1 24 | $-59.2M | $115.2M |
| Q4 25 | $-157.1M | $-40.0M | ||
| Q3 25 | $255.6M | $-102.1M | ||
| Q2 25 | $15.0M | $-37.9M | ||
| Q1 25 | $-20.5M | $-104.6M | ||
| Q4 24 | — | $30.9M | ||
| Q3 24 | $118.4M | $-3.3M | ||
| Q2 24 | $-62.3M | $-116.1M | ||
| Q1 24 | $-59.8M | $11.8M |
| Q4 25 | -57.5% | -14.5% | ||
| Q3 25 | 38.1% | -40.9% | ||
| Q2 25 | 3.8% | -16.2% | ||
| Q1 25 | -5.8% | -45.5% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | 21.5% | -1.6% | ||
| Q2 24 | -19.6% | -54.5% | ||
| Q1 24 | -17.9% | 5.3% |
| Q4 25 | 0.0% | 52.6% | ||
| Q3 25 | 0.1% | 59.0% | ||
| Q2 25 | 0.2% | 57.6% | ||
| Q1 25 | 0.2% | 83.8% | ||
| Q4 24 | 0.0% | 55.4% | ||
| Q3 24 | 0.1% | 51.8% | ||
| Q2 24 | 0.2% | 69.0% | ||
| Q1 24 | 0.2% | 46.1% |
| Q4 25 | -10.19× | 3.35× | ||
| Q3 25 | 2.95× | 1.87× | ||
| Q2 25 | 0.48× | 3.45× | ||
| Q1 25 | -0.63× | 2.18× | ||
| Q4 24 | -27.27× | 3.89× | ||
| Q3 24 | 1.46× | 4.82× | ||
| Q2 24 | -1.59× | 1.38× | ||
| Q1 24 | -1.32× | 2.99× |
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% |
ORA
| Electricity | $186.6M | 68% |
| Products | $63.1M | 23% |
| Energy Storage Segment | $26.3M | 10% |
| Product Segment | $1.2M | 0% |
