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Forestar Group Inc.（FOR）与PEGASYSTEMS INC（PEGA）财务数据对比。点击上方公司名可切换其他公司
PEGASYSTEMS INC的季度营收约是Forestar Group Inc.的1.6倍（$430.0M vs $273.0M），PEGASYSTEMS INC净利率更高（7.6% vs 5.6%，领先2.0%），Forestar Group Inc.同比增速更快（9.0% vs -9.6%），PEGASYSTEMS INC自由现金流更多（$206.5M vs $-157.1M），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% 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。
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
FOR vs PEGA — 直观对比
营收规模更大
PEGA
是对方的1.6倍
$273.0M
营收增速更快
FOR
高出18.6%
-9.6%
净利率更高
PEGA
高出2.0%
5.6%
自由现金流更多
PEGA
多$363.6M
$-157.1M
两年增速更快
PEGA
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $430.0M |
| 净利润 | $15.4M | $32.8M |
| 毛利率 | 20.1% | 75.2% |
| 营业利润率 | 7.6% | 8.6% |
| 净利率 | 5.6% | 7.6% |
| 营收同比 | 9.0% | -9.6% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | $0.18 |
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FORPEGA
| Q1 26 | — | $430.0M | ||
| Q4 25 | $273.0M | $504.3M | ||
| Q3 25 | $670.5M | $381.4M | ||
| Q2 25 | $390.5M | $384.5M | ||
| Q1 25 | $351.0M | $475.6M | ||
| Q4 24 | $250.4M | $490.8M | ||
| Q3 24 | $551.3M | $325.1M | ||
| Q2 24 | $318.4M | $351.2M |
净利润FORPEGA
| Q1 26 | — | $32.8M | ||
| Q4 25 | $15.4M | $234.6M | ||
| Q3 25 | $86.9M | $43.4M | ||
| Q2 25 | $32.9M | $30.1M | ||
| Q1 25 | $31.6M | $85.4M | ||
| Q4 24 | $16.5M | $119.1M | ||
| Q3 24 | $81.5M | $-14.4M | ||
| Q2 24 | $38.7M | $6.6M |
毛利率FORPEGA
| Q1 26 | — | 75.2% | ||
| Q4 25 | 20.1% | 79.5% | ||
| Q3 25 | 22.3% | 72.2% | ||
| Q2 25 | 20.4% | 71.5% | ||
| Q1 25 | 22.6% | 78.5% | ||
| Q4 24 | 22.0% | 79.1% | ||
| Q3 24 | 23.9% | 70.2% | ||
| Q2 24 | 22.5% | 72.4% |
营业利润率FORPEGA
| Q1 26 | — | 8.6% | ||
| Q4 25 | 7.6% | 20.7% | ||
| Q3 25 | 16.9% | 3.8% | ||
| Q2 25 | 11.2% | 4.5% | ||
| Q1 25 | 11.6% | 26.7% | ||
| Q4 24 | 8.7% | 29.1% | ||
| Q3 24 | 19.7% | -3.6% | ||
| Q2 24 | 16.2% | 3.7% |
净利率FORPEGA
| Q1 26 | — | 7.6% | ||
| Q4 25 | 5.6% | 46.5% | ||
| Q3 25 | 13.0% | 11.4% | ||
| Q2 25 | 8.4% | 7.8% | ||
| Q1 25 | 9.0% | 18.0% | ||
| Q4 24 | 6.6% | 24.3% | ||
| Q3 24 | 14.8% | -4.4% | ||
| Q2 24 | 12.2% | 1.9% |
每股收益（稀释后）FORPEGA
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.30 | $0.81 | ||
| Q3 25 | $1.70 | $0.24 | ||
| Q2 25 | $0.65 | $0.17 | ||
| Q1 25 | $0.62 | $0.91 | ||
| Q4 24 | $0.32 | $1.35 | ||
| Q3 24 | $1.59 | $-0.17 | ||
| Q2 24 | $0.76 | $0.07 |
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 | $270.0M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $705.9M |
| 总资产 | $3.2B | $1.6B |
| 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FORPEGA
| Q1 26 | — | $270.0M | ||
| Q4 25 | $211.7M | $425.8M | ||
| Q3 25 | $379.2M | $351.4M | ||
| Q2 25 | $189.2M | $411.6M | ||
| Q1 25 | $174.3M | $371.7M | ||
| Q4 24 | $132.0M | $740.0M | ||
| Q3 24 | $481.2M | $703.0M | ||
| Q2 24 | $359.2M | $665.1M |
总债务FORPEGA
| 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FORPEGA
| Q1 26 | — | $705.9M | ||
| Q4 25 | $1.8B | $787.4M | ||
| Q3 25 | $1.8B | $596.8M | ||
| Q2 25 | $1.7B | $624.5M | ||
| Q1 25 | $1.6B | $611.3M | ||
| Q4 24 | $1.6B | $585.5M | ||
| Q3 24 | $1.6B | $473.0M | ||
| Q2 24 | $1.5B | $435.4M |
总资产FORPEGA
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.2B | $1.6B | ||
| Q3 25 | $3.1B | $1.3B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.0B | $1.8B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.5B |
负债/权益比FORPEGA
| 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 | — |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $206.5M |
| 自由现金流率自由现金流/营收 | -57.5% | 48.0% |
| 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 | $494.9M |
8季度趋势，按日历期对齐
经营现金流FORPEGA
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $158.4M | ||
| Q3 25 | $256.3M | $56.3M | ||
| Q2 25 | $15.8M | $86.3M | ||
| Q1 25 | $-19.8M | $204.2M | ||
| Q4 24 | $-450.0M | $95.2M | ||
| Q3 24 | $119.2M | $30.5M | ||
| Q2 24 | $-61.7M | $40.1M |
自由现金流FORPEGA
| Q1 26 | — | $206.5M | ||
| Q4 25 | $-157.1M | $152.4M | ||
| Q3 25 | $255.6M | $51.8M | ||
| Q2 25 | $15.0M | $84.1M | ||
| Q1 25 | $-20.5M | $202.3M | ||
| Q4 24 | — | $92.4M | ||
| Q3 24 | $118.4M | $27.4M | ||
| Q2 24 | $-62.3M | $38.8M |
自由现金流率FORPEGA
| Q1 26 | — | 48.0% | ||
| Q4 25 | -57.5% | 30.2% | ||
| Q3 25 | 38.1% | 13.6% | ||
| Q2 25 | 3.8% | 21.9% | ||
| Q1 25 | -5.8% | 42.5% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | 21.5% | 8.4% | ||
| Q2 24 | -19.6% | 11.1% |
资本支出强度FORPEGA
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 1.2% | ||
| Q3 25 | 0.1% | 1.2% | ||
| Q2 25 | 0.2% | 0.6% | ||
| Q1 25 | 0.2% | 0.4% | ||
| Q4 24 | 0.0% | 0.6% | ||
| Q3 24 | 0.1% | 0.9% | ||
| Q2 24 | 0.2% | 0.4% |
现金转化率FORPEGA
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | 0.68× | ||
| Q3 25 | 2.95× | 1.30× | ||
| Q2 25 | 0.48× | 2.87× | ||
| Q1 25 | -0.63× | 2.39× | ||
| Q4 24 | -27.27× | 0.80× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
