vs
Forestar Group Inc.（FOR）与Pebblebrook Hotel Trust（PEB）财务数据对比。点击上方公司名可切换其他公司
Pebblebrook Hotel Trust的季度营收约是Forestar Group Inc.的1.3倍（$345.7M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -5.3%，领先11.0%），Forestar Group Inc.同比增速更快（9.0% vs 7.9%），Pebblebrook Hotel Trust自由现金流更多（$114.5M vs $-157.1M），过去两年Pebblebrook Hotel Trust的营收复合增速更高（-6.7% 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。
Pebblebrook Hotel Trust是一家公开上市的房地产投资信托，主要在美国核心城市及休闲目的地持有、运营并投资高端、奢华及精品酒店物业，服务商务与休闲旅客，聚焦高需求市场以推动长期价值增长。
FOR vs PEB — 直观对比
营收规模更大
PEB
是对方的1.3倍
$273.0M
营收增速更快
FOR
高出1.1%
7.9%
净利率更高
FOR
高出11.0%
-5.3%
自由现金流更多
PEB
多$271.6M
$-157.1M
两年增速更快
PEB
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $345.7M |
| 净利润 | $15.4M | $-18.4M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 2.3% |
| 净利率 | 5.6% | -5.3% |
| 营收同比 | 9.0% | 7.9% |
| 净利润同比 | -6.7% | 31.8% |
| 每股收益（稀释后） | $0.30 | $-0.26 |
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FORPEB
| Q1 26 | — | $345.7M | ||
| Q4 25 | $273.0M | $349.0M | ||
| Q3 25 | $670.5M | $398.7M | ||
| Q2 25 | $390.5M | $407.5M | ||
| Q1 25 | $351.0M | $320.3M | ||
| Q4 24 | $250.4M | $337.6M | ||
| Q3 24 | $551.3M | $404.5M | ||
| Q2 24 | $318.4M | $397.1M |
净利润FORPEB
| Q1 26 | — | $-18.4M | ||
| Q4 25 | $15.4M | $-17.9M | ||
| Q3 25 | $86.9M | $-33.1M | ||
| Q2 25 | $32.9M | $18.1M | ||
| Q1 25 | $31.6M | $-32.9M | ||
| Q4 24 | $16.5M | $-50.5M | ||
| Q3 24 | $81.5M | $43.7M | ||
| Q2 24 | $38.7M | $30.9M |
毛利率FORPEB
| Q1 26 | — | — | ||
| 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% | — |
营业利润率FORPEB
| Q1 26 | — | 2.3% | ||
| Q4 25 | 7.6% | 2.5% | ||
| Q3 25 | 16.9% | -2.6% | ||
| Q2 25 | 11.2% | 12.9% | ||
| Q1 25 | 11.6% | -2.3% | ||
| Q4 24 | 8.7% | -6.7% | ||
| Q3 24 | 19.7% | 11.6% | ||
| Q2 24 | 16.2% | 15.4% |
净利率FORPEB
| Q1 26 | — | -5.3% | ||
| Q4 25 | 5.6% | -5.1% | ||
| Q3 25 | 13.0% | -8.3% | ||
| Q2 25 | 8.4% | 4.4% | ||
| Q1 25 | 9.0% | -10.3% | ||
| Q4 24 | 6.6% | -15.0% | ||
| Q3 24 | 14.8% | 10.8% | ||
| Q2 24 | 12.2% | 7.8% |
每股收益（稀释后）FORPEB
| Q1 26 | — | $-0.26 | ||
| Q4 25 | $0.30 | $-0.22 | ||
| Q3 25 | $1.70 | $-0.37 | ||
| Q2 25 | $0.65 | $0.06 | ||
| Q1 25 | $0.62 | $-0.37 | ||
| Q4 24 | $0.32 | $-0.47 | ||
| Q3 24 | $1.59 | $0.24 | ||
| Q2 24 | $0.76 | $0.16 |
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 | $196.2M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $2.4B |
| 总资产 | $3.2B | $5.3B |
| 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FORPEB
| Q1 26 | — | $196.2M | ||
| Q4 25 | $211.7M | $184.2M | ||
| Q3 25 | $379.2M | $223.2M | ||
| Q2 25 | $189.2M | $256.1M | ||
| Q1 25 | $174.3M | $208.1M | ||
| Q4 24 | $132.0M | $206.7M | ||
| Q3 24 | $481.2M | $134.0M | ||
| Q2 24 | $359.2M | $101.7M |
总债务FORPEB
| Q1 26 | — | — | ||
| Q4 25 | $793.2M | $2.1B | ||
| Q3 25 | $802.7M | $2.2B | ||
| Q2 25 | $872.8M | $2.2B | ||
| Q1 25 | $872.5M | $2.2B | ||
| Q4 24 | $806.8M | $2.2B | ||
| Q3 24 | $706.4M | $2.2B | ||
| Q2 24 | $706.1M | $2.2B |
股东权益FORPEB
| Q1 26 | — | $2.4B | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.8B | $2.5B | ||
| Q2 25 | $1.7B | $2.6B | ||
| Q1 25 | $1.6B | $2.6B | ||
| Q4 24 | $1.6B | $2.7B | ||
| Q3 24 | $1.6B | $2.8B | ||
| Q2 24 | $1.5B | $2.7B |
总资产FORPEB
| Q1 26 | — | $5.3B | ||
| Q4 25 | $3.2B | $5.3B | ||
| Q3 25 | $3.1B | $5.6B | ||
| Q2 25 | $3.1B | $5.7B | ||
| Q1 25 | $3.0B | $5.7B | ||
| Q4 24 | $3.0B | $5.7B | ||
| Q3 24 | $2.8B | $5.7B | ||
| Q2 24 | $2.7B | $5.7B |
负债/权益比FORPEB
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 0.86× | ||
| Q3 25 | 0.45× | 0.89× | ||
| Q2 25 | 0.52× | 0.85× | ||
| Q1 25 | 0.53× | 0.85× | ||
| Q4 24 | 0.50× | 0.83× | ||
| Q3 24 | 0.44× | 0.80× | ||
| Q2 24 | 0.47× | 0.80× |
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 | $114.5M |
| 自由现金流率自由现金流/营收 | -57.5% | 33.1% |
| 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FORPEB
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $249.7M | ||
| Q3 25 | $256.3M | $77.6M | ||
| Q2 25 | $15.8M | $90.5M | ||
| Q1 25 | $-19.8M | $50.3M | ||
| Q4 24 | $-450.0M | $275.0M | ||
| Q3 24 | $119.2M | $76.1M | ||
| Q2 24 | $-61.7M | $83.7M |
自由现金流FORPEB
| Q1 26 | — | $114.5M | ||
| Q4 25 | $-157.1M | $152.3M | ||
| Q3 25 | $255.6M | $6.8M | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $-20.5M | — | ||
| Q4 24 | — | $146.3M | ||
| Q3 24 | $118.4M | $-24.8M | ||
| Q2 24 | $-62.3M | — |
自由现金流率FORPEB
| Q1 26 | — | 33.1% | ||
| Q4 25 | -57.5% | 43.6% | ||
| Q3 25 | 38.1% | 1.7% | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | — | 43.3% | ||
| Q3 24 | 21.5% | -6.1% | ||
| Q2 24 | -19.6% | — |
资本支出强度FORPEB
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 27.9% | ||
| Q3 25 | 0.1% | 17.7% | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.0% | 38.1% | ||
| Q3 24 | 0.1% | 24.9% | ||
| Q2 24 | 0.2% | — |
现金转化率FORPEB
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 5.01× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 1.74× | ||
| Q2 24 | -1.59× | 2.70× |
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% |
PEB
| Room | $214.5M | 62% |
| Food and beverage | $91.1M | 26% |
| Other | $40.0M | 12% |
