vs
Forestar Group Inc.（FOR）与ProPetro Holding Corp.（PUMP）财务数据对比。点击上方公司名可切换其他公司
ProPetro Holding Corp.的季度营收约是Forestar Group Inc.的1.1倍（$289.7M vs $273.0M），Forestar Group Inc.同比增速更快（9.0% vs -9.6%），ProPetro Holding Corp.自由现金流更多（$16.8M vs $-157.1M），过去两年Forestar Group Inc.的营收复合增速更高（-9.6% vs -15.5%）
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。
ProPetro Holding Corp.是一家总部位于美国的油田服务供应商，主要为陆上油气勘探开采企业提供水力压裂、完井及相关配套服务，核心业务集中在横跨德克萨斯州和新墨西哥州的二叠纪盆地。
FOR vs PUMP — 直观对比
营收规模更大
PUMP
是对方的1.1倍
$273.0M
营收增速更快
FOR
高出18.7%
-9.6%
自由现金流更多
PUMP
多$173.9M
$-157.1M
两年增速更快
FOR
近两年复合增速
-15.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $289.7M |
| 净利润 | $15.4M | — |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 2.1% |
| 净利率 | 5.6% | — |
| 营收同比 | 9.0% | -9.6% |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | $0.01 |
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FORPUMP
| Q4 25 | $273.0M | $289.7M | ||
| Q3 25 | $670.5M | $293.9M | ||
| Q2 25 | $390.5M | $326.2M | ||
| Q1 25 | $351.0M | $359.4M | ||
| Q4 24 | $250.4M | $320.6M | ||
| Q3 24 | $551.3M | $360.9M | ||
| Q2 24 | $318.4M | $357.0M | ||
| Q1 24 | $333.8M | $405.8M |
净利润FORPUMP
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $-2.4M | ||
| Q2 25 | $32.9M | $-7.2M | ||
| Q1 25 | $31.6M | $9.6M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $-137.1M | ||
| Q2 24 | $38.7M | $-3.7M | ||
| Q1 24 | $45.0M | $19.9M |
毛利率FORPUMP
| 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% | — | ||
| Q1 24 | 24.9% | — |
营业利润率FORPUMP
| Q4 25 | 7.6% | 2.1% | ||
| Q3 25 | 16.9% | -2.1% | ||
| Q2 25 | 11.2% | -1.0% | ||
| Q1 25 | 11.6% | 2.6% | ||
| Q4 24 | 8.7% | -5.8% | ||
| Q3 24 | 19.7% | -49.4% | ||
| Q2 24 | 16.2% | -0.1% | ||
| Q1 24 | 17.6% | 7.5% |
净利率FORPUMP
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | -0.8% | ||
| Q2 25 | 8.4% | -2.2% | ||
| Q1 25 | 9.0% | 2.7% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | -38.0% | ||
| Q2 24 | 12.2% | -1.0% | ||
| Q1 24 | 13.5% | 4.9% |
每股收益（稀释后）FORPUMP
| Q4 25 | $0.30 | $0.01 | ||
| Q3 25 | $1.70 | $-0.02 | ||
| Q2 25 | $0.65 | $-0.07 | ||
| Q1 25 | $0.62 | $0.09 | ||
| Q4 24 | $0.32 | $-0.14 | ||
| Q3 24 | $1.59 | $-1.32 | ||
| Q2 24 | $0.76 | $-0.03 | ||
| Q1 24 | $0.89 | $0.18 |
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 | $91.3M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $829.8M |
| 总资产 | $3.2B | $1.3B |
| 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FORPUMP
| Q4 25 | $211.7M | $91.3M | ||
| Q3 25 | $379.2M | $76.7M | ||
| Q2 25 | $189.2M | $83.0M | ||
| Q1 25 | $174.3M | $71.4M | ||
| Q4 24 | $132.0M | $58.3M | ||
| Q3 24 | $481.2M | $54.0M | ||
| Q2 24 | $359.2M | $74.7M | ||
| Q1 24 | $416.2M | $53.6M |
总债务FORPUMP
| 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FORPUMP
| Q4 25 | $1.8B | $829.8M | ||
| Q3 25 | $1.8B | $826.2M | ||
| Q2 25 | $1.7B | $824.0M | ||
| Q1 25 | $1.6B | $826.5M | ||
| Q4 24 | $1.6B | $816.3M | ||
| Q3 24 | $1.6B | $833.0M | ||
| Q2 24 | $1.5B | $975.8M | ||
| Q1 24 | $1.5B | $998.2M |
总资产FORPUMP
| Q4 25 | $3.2B | $1.3B | ||
| Q3 25 | $3.1B | $1.3B | ||
| Q2 25 | $3.1B | $1.2B | ||
| Q1 25 | $3.0B | $1.2B | ||
| Q4 24 | $3.0B | $1.2B | ||
| Q3 24 | $2.8B | $1.3B | ||
| Q2 24 | $2.7B | $1.5B | ||
| Q1 24 | $2.6B | $1.2B |
负债/权益比FORPUMP
| 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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $16.8M |
| 自由现金流率自由现金流/营收 | -57.5% | 5.8% |
| 资本支出强度资本支出/营收 | 0.0% | 22.2% |
| 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 | $45.3M |
8季度趋势，按日历期对齐
经营现金流FORPUMP
| Q4 25 | $-157.0M | $81.0M | ||
| Q3 25 | $256.3M | $41.7M | ||
| Q2 25 | $15.8M | $54.2M | ||
| Q1 25 | $-19.8M | $54.7M | ||
| Q4 24 | $-450.0M | $37.9M | ||
| Q3 24 | $119.2M | $34.7M | ||
| Q2 24 | $-61.7M | $104.9M | ||
| Q1 24 | $-59.2M | $74.8M |
自由现金流FORPUMP
| Q4 25 | $-157.1M | $16.8M | ||
| Q3 25 | $255.6M | $-2.4M | ||
| Q2 25 | $15.0M | $17.1M | ||
| Q1 25 | $-20.5M | $13.8M | ||
| Q4 24 | — | $10.0M | ||
| Q3 24 | $118.4M | $-6.0M | ||
| Q2 24 | $-62.3M | $67.7M | ||
| Q1 24 | $-59.8M | $40.2M |
自由现金流率FORPUMP
| Q4 25 | -57.5% | 5.8% | ||
| Q3 25 | 38.1% | -0.8% | ||
| Q2 25 | 3.8% | 5.2% | ||
| Q1 25 | -5.8% | 3.8% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 21.5% | -1.7% | ||
| Q2 24 | -19.6% | 19.0% | ||
| Q1 24 | -17.9% | 9.9% |
资本支出强度FORPUMP
| Q4 25 | 0.0% | 22.2% | ||
| Q3 25 | 0.1% | 15.0% | ||
| Q2 25 | 0.2% | 11.4% | ||
| Q1 25 | 0.2% | 11.4% | ||
| Q4 24 | 0.0% | 8.7% | ||
| Q3 24 | 0.1% | 11.3% | ||
| Q2 24 | 0.2% | 10.4% | ||
| Q1 24 | 0.2% | 8.5% |
现金转化率FORPUMP
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | 5.70× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -1.32× | 3.75× |
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% |
PUMP
| Hydraulic Fracturing Segment | $203.9M | 70% |
| Wireline Operating Segment | $55.4M | 19% |
| Cementing Operating Segment | $29.6M | 10% |
