vs
Forestar Group Inc.（FOR）与Ultragenyx Pharmaceutical Inc.（RARE）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Ultragenyx Pharmaceutical Inc.的1.3倍（$273.0M vs $207.3M），Forestar Group Inc.净利率更高（5.6% vs -62.0%，领先67.7%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 9.0%），Ultragenyx Pharmaceutical Inc.自由现金流更多（$-100.8M vs $-157.1M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% 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。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
FOR vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $207.3M |
| 净利润 | $15.4M | $-128.6M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | -54.7% |
| 净利率 | 5.6% | -62.0% |
| 营收同比 | 9.0% | 25.9% |
| 净利润同比 | -6.7% | 3.5% |
| 每股收益（稀释后） | $0.30 | $-1.28 |
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
| Q4 25 | $273.0M | $207.3M | ||
| Q3 25 | $670.5M | $159.9M | ||
| Q2 25 | $390.5M | $166.5M | ||
| Q1 25 | $351.0M | $139.3M | ||
| Q4 24 | $250.4M | $164.6M | ||
| Q3 24 | $551.3M | $139.5M | ||
| Q2 24 | $318.4M | $147.0M | ||
| Q1 24 | $333.8M | $108.8M |
| Q4 25 | $15.4M | $-128.6M | ||
| Q3 25 | $86.9M | $-180.4M | ||
| Q2 25 | $32.9M | $-115.0M | ||
| Q1 25 | $31.6M | $-151.1M | ||
| Q4 24 | $16.5M | $-133.2M | ||
| Q3 24 | $81.5M | $-133.5M | ||
| Q2 24 | $38.7M | $-131.6M | ||
| Q1 24 | $45.0M | $-170.7M |
| 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% | — |
| Q4 25 | 7.6% | -54.7% | ||
| Q3 25 | 16.9% | -106.9% | ||
| Q2 25 | 11.2% | -64.8% | ||
| Q1 25 | 11.6% | -102.6% | ||
| Q4 24 | 8.7% | -74.3% | ||
| Q3 24 | 19.7% | -94.6% | ||
| Q2 24 | 16.2% | -79.1% | ||
| Q1 24 | 17.6% | -151.9% |
| Q4 25 | 5.6% | -62.0% | ||
| Q3 25 | 13.0% | -112.8% | ||
| Q2 25 | 8.4% | -69.0% | ||
| Q1 25 | 9.0% | -108.5% | ||
| Q4 24 | 6.6% | -80.9% | ||
| Q3 24 | 14.8% | -95.7% | ||
| Q2 24 | 12.2% | -89.5% | ||
| Q1 24 | 13.5% | -156.8% |
| Q4 25 | $0.30 | $-1.28 | ||
| Q3 25 | $1.70 | $-1.81 | ||
| Q2 25 | $0.65 | $-1.17 | ||
| Q1 25 | $0.62 | $-1.57 | ||
| Q4 24 | $0.32 | $-1.34 | ||
| Q3 24 | $1.59 | $-1.40 | ||
| Q2 24 | $0.76 | $-1.52 | ||
| Q1 24 | $0.89 | $-2.03 |
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 | $421.0M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $-80.0M |
| 总资产 | $3.2B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | $421.0M | ||
| Q3 25 | $379.2M | $202.5M | ||
| Q2 25 | $189.2M | $176.3M | ||
| Q1 25 | $174.3M | $127.1M | ||
| Q4 24 | $132.0M | $174.0M | ||
| Q3 24 | $481.2M | $150.6M | ||
| Q2 24 | $359.2M | $480.7M | ||
| Q1 24 | $416.2M | $112.3M |
| 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 | — |
| Q4 25 | $1.8B | $-80.0M | ||
| Q3 25 | $1.8B | $9.2M | ||
| Q2 25 | $1.7B | $151.3M | ||
| Q1 25 | $1.6B | $144.2M | ||
| Q4 24 | $1.6B | $255.0M | ||
| Q3 24 | $1.6B | $346.8M | ||
| Q2 24 | $1.5B | $432.4M | ||
| Q1 24 | $1.5B | $140.3M |
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.1B | $1.2B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.0B | $1.3B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.3B |
| 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 | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $-100.8M |
| 自由现金流率自由现金流/营收 | -57.5% | -48.6% |
| 资本支出强度资本支出/营收 | 0.0% | 0.5% |
| 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 | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | $-99.8M | ||
| Q3 25 | $256.3M | $-91.4M | ||
| Q2 25 | $15.8M | $-108.3M | ||
| Q1 25 | $-19.8M | $-166.5M | ||
| Q4 24 | $-450.0M | $-79.3M | ||
| Q3 24 | $119.2M | $-67.0M | ||
| Q2 24 | $-61.7M | $-77.0M | ||
| Q1 24 | $-59.2M | $-190.7M |
| Q4 25 | $-157.1M | $-100.8M | ||
| Q3 25 | $255.6M | $-92.7M | ||
| Q2 25 | $15.0M | $-110.7M | ||
| Q1 25 | $-20.5M | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | $118.4M | $-68.6M | ||
| Q2 24 | $-62.3M | $-79.0M | ||
| Q1 24 | $-59.8M | $-193.9M |
| Q4 25 | -57.5% | -48.6% | ||
| Q3 25 | 38.1% | -58.0% | ||
| Q2 25 | 3.8% | -66.5% | ||
| Q1 25 | -5.8% | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | 21.5% | -49.2% | ||
| Q2 24 | -19.6% | -53.7% | ||
| Q1 24 | -17.9% | -178.2% |
| Q4 25 | 0.0% | 0.5% | ||
| Q3 25 | 0.1% | 0.8% | ||
| Q2 25 | 0.2% | 1.5% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.1% | 1.2% | ||
| Q2 24 | 0.2% | 1.4% | ||
| Q1 24 | 0.2% | 3.0% |
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| 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% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
