vs
Forestar Group Inc.（FOR）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
Forestar Group Inc.的季度营收约是通用动力的1.5倍（$273.0M vs $184.5M），通用动力净利率更高（7.0% vs 5.6%，领先1.3%），通用动力同比增速更快（28.6% vs 9.0%），通用动力自由现金流更多（$92.8M vs $-157.1M），过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
FOR vs PLOW — 直观对比
营收规模更大
FOR
是对方的1.5倍
$184.5M
营收增速更快
PLOW
高出19.5%
9.0%
净利率更高
PLOW
高出1.3%
5.6%
自由现金流更多
PLOW
多$249.9M
$-157.1M
两年增速更快
PLOW
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $184.5M |
| 净利润 | $15.4M | $12.8M |
| 毛利率 | 20.1% | 26.1% |
| 营业利润率 | 7.6% | 10.5% |
| 净利率 | 5.6% | 7.0% |
| 营收同比 | 9.0% | 28.6% |
| 净利润同比 | -6.7% | 62.3% |
| 每股收益（稀释后） | $0.30 | $0.54 |
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FORPLOW
| Q4 25 | $273.0M | $184.5M | ||
| Q3 25 | $670.5M | $162.1M | ||
| Q2 25 | $390.5M | $194.3M | ||
| Q1 25 | $351.0M | $115.1M | ||
| Q4 24 | $250.4M | $143.5M | ||
| Q3 24 | $551.3M | $129.4M | ||
| Q2 24 | $318.4M | $199.9M | ||
| Q1 24 | $333.8M | $95.7M |
净利润FORPLOW
| Q4 25 | $15.4M | $12.8M | ||
| Q3 25 | $86.9M | $8.0M | ||
| Q2 25 | $32.9M | $26.0M | ||
| Q1 25 | $31.6M | $148.0K | ||
| Q4 24 | $16.5M | $7.9M | ||
| Q3 24 | $81.5M | $32.3M | ||
| Q2 24 | $38.7M | $24.3M | ||
| Q1 24 | $45.0M | $-8.4M |
毛利率FORPLOW
| Q4 25 | 20.1% | 26.1% | ||
| Q3 25 | 22.3% | 23.5% | ||
| Q2 25 | 20.4% | 31.0% | ||
| Q1 25 | 22.6% | 24.5% | ||
| Q4 24 | 22.0% | 24.9% | ||
| Q3 24 | 23.9% | 23.9% | ||
| Q2 24 | 22.5% | 30.7% | ||
| Q1 24 | 24.9% | 19.8% |
营业利润率FORPLOW
| Q4 25 | 7.6% | 10.5% | ||
| Q3 25 | 16.9% | 8.7% | ||
| Q2 25 | 11.2% | 19.0% | ||
| Q1 25 | 11.6% | 2.8% | ||
| Q4 24 | 8.7% | 9.0% | ||
| Q3 24 | 19.7% | 35.4% | ||
| Q2 24 | 16.2% | 18.2% | ||
| Q1 24 | 17.6% | -6.7% |
净利率FORPLOW
| Q4 25 | 5.6% | 7.0% | ||
| Q3 25 | 13.0% | 4.9% | ||
| Q2 25 | 8.4% | 13.4% | ||
| Q1 25 | 9.0% | 0.1% | ||
| Q4 24 | 6.6% | 5.5% | ||
| Q3 24 | 14.8% | 24.9% | ||
| Q2 24 | 12.2% | 12.2% | ||
| Q1 24 | 13.5% | -8.7% |
每股收益（稀释后）FORPLOW
| Q4 25 | $0.30 | $0.54 | ||
| Q3 25 | $1.70 | $0.33 | ||
| Q2 25 | $0.65 | $1.09 | ||
| Q1 25 | $0.62 | $0.00 | ||
| Q4 24 | $0.32 | $0.35 | ||
| Q3 24 | $1.59 | $1.36 | ||
| Q2 24 | $0.76 | $1.02 | ||
| Q1 24 | $0.89 | $-0.37 |
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 | $144.0M |
| 股东权益账面价值 | $1.8B | $281.4M |
| 总资产 | $3.2B | $626.7M |
| 负债/权益比越低杠杆越低 | 0.44× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资FORPLOW
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | — | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | — | ||
| Q2 24 | $359.2M | — | ||
| Q1 24 | $416.2M | — |
总债务FORPLOW
| Q4 25 | $793.2M | $144.0M | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $147.5M | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
股东权益FORPLOW
| Q4 25 | $1.8B | $281.4M | ||
| Q3 25 | $1.8B | $275.3M | ||
| Q2 25 | $1.7B | $273.3M | ||
| Q1 25 | $1.6B | $258.9M | ||
| Q4 24 | $1.6B | $264.2M | ||
| Q3 24 | $1.6B | $260.8M | ||
| Q2 24 | $1.5B | $236.7M | ||
| Q1 24 | $1.5B | $217.2M |
总资产FORPLOW
| Q4 25 | $3.2B | $626.7M | ||
| Q3 25 | $3.1B | $694.9M | ||
| Q2 25 | $3.1B | $671.5M | ||
| Q1 25 | $3.0B | $621.0M | ||
| Q4 24 | $3.0B | $590.0M | ||
| Q3 24 | $2.8B | $665.6M | ||
| Q2 24 | $2.7B | $617.0M | ||
| Q1 24 | $2.6B | $577.1M |
负债/权益比FORPLOW
| Q4 25 | 0.44× | 0.51× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 0.56× | ||
| 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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $92.8M |
| 自由现金流率自由现金流/营收 | -57.5% | 50.3% |
| 资本支出强度资本支出/营收 | 0.0% | 1.7% |
| 现金转化率经营现金流/净利润 | -10.19× | 7.47× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $63.6M |
8季度趋势，按日历期对齐
经营现金流FORPLOW
| Q4 25 | $-157.0M | $95.9M | ||
| Q3 25 | $256.3M | $-8.5M | ||
| Q2 25 | $15.8M | $-11.4M | ||
| Q1 25 | $-19.8M | $-1.3M | ||
| Q4 24 | $-450.0M | $74.4M | ||
| Q3 24 | $119.2M | $-14.2M | ||
| Q2 24 | $-61.7M | $2.5M | ||
| Q1 24 | $-59.2M | $-21.6M |
自由现金流FORPLOW
| Q4 25 | $-157.1M | $92.8M | ||
| Q3 25 | $255.6M | $-11.4M | ||
| Q2 25 | $15.0M | $-14.3M | ||
| Q1 25 | $-20.5M | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | $118.4M | $-15.2M | ||
| Q2 24 | $-62.3M | $836.0K | ||
| Q1 24 | $-59.8M | $-22.4M |
自由现金流率FORPLOW
| Q4 25 | -57.5% | 50.3% | ||
| Q3 25 | 38.1% | -7.1% | ||
| Q2 25 | 3.8% | -7.4% | ||
| Q1 25 | -5.8% | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | 21.5% | -11.8% | ||
| Q2 24 | -19.6% | 0.4% | ||
| Q1 24 | -17.9% | -23.4% |
资本支出强度FORPLOW
| Q4 25 | 0.0% | 1.7% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.2% | 1.9% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | 0.1% | 0.8% | ||
| Q2 24 | 0.2% | 0.8% | ||
| Q1 24 | 0.2% | 0.8% |
现金转化率FORPLOW
| Q4 25 | -10.19× | 7.47× | ||
| Q3 25 | 2.95× | -1.07× | ||
| Q2 25 | 0.48× | -0.44× | ||
| Q1 25 | -0.63× | -9.03× | ||
| Q4 24 | -27.27× | 9.41× | ||
| Q3 24 | 1.46× | -0.44× | ||
| Q2 24 | -1.59× | 0.10× | ||
| Q1 24 | -1.32× | — |
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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
