vs
Forestar Group Inc.（FOR）与Penumbra Inc（PEN）财务数据对比。点击上方公司名可切换其他公司
Penumbra Inc的季度营收约是Forestar Group Inc.的1.4倍（$385.4M vs $273.0M），Penumbra Inc净利率更高（12.3% vs 5.6%，领先6.6%），Penumbra Inc同比增速更快（22.1% vs 9.0%），Penumbra Inc自由现金流更多（$68.0M vs $-157.1M），过去两年Penumbra Inc的营收复合增速更高（17.6% 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。
Penumbra Inc是2004年由Arani Bose与Adam Elsesser联合创立的美国医疗器械企业，总部位于加利福尼亚州阿拉米达，核心业务为研发、生产中风、动脉瘤等血管疾病介入治疗所用的专业医疗设备，产品已在全球多个国家的临床诊疗场景中投入使用。
FOR vs PEN — 直观对比
营收规模更大
PEN
是对方的1.4倍
$273.0M
营收增速更快
PEN
高出13.1%
9.0%
净利率更高
PEN
高出6.6%
5.6%
自由现金流更多
PEN
多$225.2M
$-157.1M
两年增速更快
PEN
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $385.4M |
| 净利润 | $15.4M | $47.3M |
| 毛利率 | 20.1% | 68.0% |
| 营业利润率 | 7.6% | 15.4% |
| 净利率 | 5.6% | 12.3% |
| 营收同比 | 9.0% | 22.1% |
| 净利润同比 | -6.7% | 40.6% |
| 每股收益（稀释后） | $0.30 | $1.20 |
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FORPEN
| Q4 25 | $273.0M | $385.4M | ||
| Q3 25 | $670.5M | $354.7M | ||
| Q2 25 | $390.5M | $339.5M | ||
| Q1 25 | $351.0M | $324.1M | ||
| Q4 24 | $250.4M | $315.5M | ||
| Q3 24 | $551.3M | $301.0M | ||
| Q2 24 | $318.4M | $299.4M | ||
| Q1 24 | $333.8M | $278.7M |
净利润FORPEN
| Q4 25 | $15.4M | $47.3M | ||
| Q3 25 | $86.9M | $45.9M | ||
| Q2 25 | $32.9M | $45.3M | ||
| Q1 25 | $31.6M | $39.2M | ||
| Q4 24 | $16.5M | $33.7M | ||
| Q3 24 | $81.5M | $29.5M | ||
| Q2 24 | $38.7M | $-60.2M | ||
| Q1 24 | $45.0M | $11.0M |
毛利率FORPEN
| Q4 25 | 20.1% | 68.0% | ||
| Q3 25 | 22.3% | 67.8% | ||
| Q2 25 | 20.4% | 66.0% | ||
| Q1 25 | 22.6% | 66.6% | ||
| Q4 24 | 22.0% | 66.8% | ||
| Q3 24 | 23.9% | 66.5% | ||
| Q2 24 | 22.5% | 54.4% | ||
| Q1 24 | 24.9% | 65.0% |
营业利润率FORPEN
| Q4 25 | 7.6% | 15.4% | ||
| Q3 25 | 16.9% | 13.8% | ||
| Q2 25 | 11.2% | 12.0% | ||
| Q1 25 | 11.6% | 12.4% | ||
| Q4 24 | 8.7% | 13.6% | ||
| Q3 24 | 19.7% | 11.7% | ||
| Q2 24 | 16.2% | -27.0% | ||
| Q1 24 | 17.6% | 4.3% |
净利率FORPEN
| Q4 25 | 5.6% | 12.3% | ||
| Q3 25 | 13.0% | 12.9% | ||
| Q2 25 | 8.4% | 13.3% | ||
| Q1 25 | 9.0% | 12.1% | ||
| Q4 24 | 6.6% | 10.7% | ||
| Q3 24 | 14.8% | 9.8% | ||
| Q2 24 | 12.2% | -20.1% | ||
| Q1 24 | 13.5% | 3.9% |
每股收益（稀释后）FORPEN
| Q4 25 | $0.30 | $1.20 | ||
| Q3 25 | $1.70 | $1.17 | ||
| Q2 25 | $0.65 | $1.15 | ||
| Q1 25 | $0.62 | $1.00 | ||
| Q4 24 | $0.32 | $0.88 | ||
| Q3 24 | $1.59 | $0.75 | ||
| Q2 24 | $0.76 | $-1.55 | ||
| Q1 24 | $0.89 | $0.28 |
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 | $186.9M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $1.4B |
| 总资产 | $3.2B | $1.8B |
| 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FORPEN
| Q4 25 | $211.7M | $186.9M | ||
| Q3 25 | $379.2M | $321.0M | ||
| Q2 25 | $189.2M | $421.8M | ||
| Q1 25 | $174.3M | $376.1M | ||
| Q4 24 | $132.0M | $324.4M | ||
| Q3 24 | $481.2M | $280.5M | ||
| Q2 24 | $359.2M | $288.3M | ||
| Q1 24 | $416.2M | $223.1M |
总债务FORPEN
| 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 | — | ||
| Q1 24 | $705.7M | — |
股东权益FORPEN
| Q4 25 | $1.8B | $1.4B | ||
| Q3 25 | $1.8B | $1.4B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
总资产FORPEN
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.1B | $1.7B | ||
| Q2 25 | $3.1B | $1.7B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.6B | $1.6B |
负债/权益比FORPEN
| 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× | — | ||
| 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 | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $68.0M |
| 自由现金流率自由现金流/营收 | -57.5% | 17.7% |
| 资本支出强度资本支出/营收 | 0.0% | 4.8% |
| 现金转化率经营现金流/净利润 | -10.19× | 1.83× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $174.9M |
8季度趋势，按日历期对齐
经营现金流FORPEN
| Q4 25 | $-157.0M | $86.5M | ||
| Q3 25 | $256.3M | $58.3M | ||
| Q2 25 | $15.8M | $44.9M | ||
| Q1 25 | $-19.8M | $49.0M | ||
| Q4 24 | $-450.0M | $51.1M | ||
| Q3 24 | $119.2M | $56.5M | ||
| Q2 24 | $-61.7M | $22.6M | ||
| Q1 24 | $-59.2M | $38.3M |
自由现金流FORPEN
| Q4 25 | $-157.1M | $68.0M | ||
| Q3 25 | $255.6M | $42.0M | ||
| Q2 25 | $15.0M | $29.4M | ||
| Q1 25 | $-20.5M | $35.5M | ||
| Q4 24 | — | $45.7M | ||
| Q3 24 | $118.4M | $51.0M | ||
| Q2 24 | $-62.3M | $18.1M | ||
| Q1 24 | $-59.8M | $32.5M |
自由现金流率FORPEN
| Q4 25 | -57.5% | 17.7% | ||
| Q3 25 | 38.1% | 11.8% | ||
| Q2 25 | 3.8% | 8.7% | ||
| Q1 25 | -5.8% | 11.0% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 21.5% | 16.9% | ||
| Q2 24 | -19.6% | 6.0% | ||
| Q1 24 | -17.9% | 11.7% |
资本支出强度FORPEN
| Q4 25 | 0.0% | 4.8% | ||
| Q3 25 | 0.1% | 4.6% | ||
| Q2 25 | 0.2% | 4.6% | ||
| Q1 25 | 0.2% | 4.2% | ||
| Q4 24 | 0.0% | 1.7% | ||
| Q3 24 | 0.1% | 1.8% | ||
| Q2 24 | 0.2% | 1.5% | ||
| Q1 24 | 0.2% | 2.1% |
现金转化率FORPEN
| Q4 25 | -10.19× | 1.83× | ||
| Q3 25 | 2.95× | 1.27× | ||
| Q2 25 | 0.48× | 0.99× | ||
| Q1 25 | -0.63× | 1.25× | ||
| Q4 24 | -27.27× | 1.52× | ||
| Q3 24 | 1.46× | 1.91× | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -1.32× | 3.48× |
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% |
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
