vs
Forestar Group Inc.（FOR）与永利度假村有限公司（RRR）财务数据对比。点击上方公司名可切换其他公司
永利度假村有限公司的季度营收约是Forestar Group Inc.的1.9倍（$507.3M vs $273.0M），永利度假村有限公司净利率更高（16.3% vs 5.6%，领先10.7%），Forestar Group Inc.同比增速更快（9.0% vs 1.9%），过去两年永利度假村有限公司的营收复合增速更高（2.1% 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。
永利度假村有限公司是总部位于美国内华达州帕拉代斯的上市企业，专注于高端酒店与赌场的开发及运营。公司由前梦幻度假村集团董事长兼首席执行官史蒂夫·永利于2002年创立，现任首席执行官为克雷格·比林斯，截至2020年共开发了6处物业。
FOR vs RRR — 直观对比
营收规模更大
RRR
是对方的1.9倍
$273.0M
营收增速更快
FOR
高出7.1%
1.9%
净利率更高
RRR
高出10.7%
5.6%
两年增速更快
RRR
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $507.3M |
| 净利润 | $15.4M | $82.7M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 28.3% |
| 净利率 | 5.6% | 16.3% |
| 营收同比 | 9.0% | 1.9% |
| 净利润同比 | -6.7% | -3.8% |
| 每股收益（稀释后） | $0.30 | $0.73 |
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FORRRR
| Q1 26 | — | $507.3M | ||
| Q4 25 | $273.0M | $511.8M | ||
| Q3 25 | $670.5M | $475.6M | ||
| Q2 25 | $390.5M | $526.3M | ||
| Q1 25 | $351.0M | $497.9M | ||
| Q4 24 | $250.4M | $495.7M | ||
| Q3 24 | $551.3M | $468.0M | ||
| Q2 24 | $318.4M | $486.4M |
净利润FORRRR
| Q1 26 | — | $82.7M | ||
| Q4 25 | $15.4M | $44.7M | ||
| Q3 25 | $86.9M | $42.3M | ||
| Q2 25 | $32.9M | $56.4M | ||
| Q1 25 | $31.6M | $44.7M | ||
| Q4 24 | $16.5M | $46.6M | ||
| Q3 24 | $81.5M | $29.0M | ||
| Q2 24 | $38.7M | $35.7M |
毛利率FORRRR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率FORRRR
| Q1 26 | — | 28.3% | ||
| Q4 25 | 7.6% | 28.1% | ||
| Q3 25 | 16.9% | 27.6% | ||
| Q2 25 | 11.2% | 31.9% | ||
| Q1 25 | 11.6% | 31.0% | ||
| Q4 24 | 8.7% | 28.7% | ||
| Q3 24 | 19.7% | 27.9% | ||
| Q2 24 | 16.2% | 28.8% |
净利率FORRRR
| Q1 26 | — | 16.3% | ||
| Q4 25 | 5.6% | 8.7% | ||
| Q3 25 | 13.0% | 8.9% | ||
| Q2 25 | 8.4% | 10.7% | ||
| Q1 25 | 9.0% | 9.0% | ||
| Q4 24 | 6.6% | 9.4% | ||
| Q3 24 | 14.8% | 6.2% | ||
| Q2 24 | 12.2% | 7.3% |
每股收益（稀释后）FORRRR
| Q1 26 | — | $0.73 | ||
| Q4 25 | $0.30 | $0.74 | ||
| Q3 25 | $1.70 | $0.68 | ||
| Q2 25 | $0.65 | $0.95 | ||
| Q1 25 | $0.62 | $0.75 | ||
| Q4 24 | $0.32 | $0.78 | ||
| Q3 24 | $1.59 | $0.48 | ||
| Q2 24 | $0.76 | $0.59 |
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 | — |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $3.2B | — |
| 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FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $211.7M | $142.5M | ||
| Q3 25 | $379.2M | $129.8M | ||
| Q2 25 | $189.2M | $145.2M | ||
| Q1 25 | $174.3M | $150.6M | ||
| Q4 24 | $132.0M | $164.4M | ||
| Q3 24 | $481.2M | $117.5M | ||
| Q2 24 | $359.2M | $136.4M |
总债务FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $793.2M | $3.4B | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $3.4B | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — |
股东权益FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $208.3M | ||
| Q3 25 | $1.8B | $219.6M | ||
| Q2 25 | $1.7B | $203.4M | ||
| Q1 25 | $1.6B | $247.1M | ||
| Q4 24 | $1.6B | $215.1M | ||
| Q3 24 | $1.6B | $175.5M | ||
| Q2 24 | $1.5B | $159.0M |
总资产FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $3.2B | $4.2B | ||
| Q3 25 | $3.1B | $4.1B | ||
| Q2 25 | $3.1B | $4.0B | ||
| Q1 25 | $3.0B | $4.1B | ||
| Q4 24 | $3.0B | $4.0B | ||
| Q3 24 | $2.8B | $4.0B | ||
| Q2 24 | $2.7B | $4.0B |
负债/权益比FORRRR
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 16.30× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 15.84× | ||
| 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 | — |
| 自由现金流率自由现金流/营收 | -57.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $156.6M | ||
| Q3 25 | $256.3M | $168.3M | ||
| Q2 25 | $15.8M | $158.4M | ||
| Q1 25 | $-19.8M | $126.2M | ||
| Q4 24 | $-450.0M | $148.2M | ||
| Q3 24 | $119.2M | $131.0M | ||
| Q2 24 | $-61.7M | $142.5M |
自由现金流FORRRR
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | $77.7M | ||
| Q3 25 | $255.6M | $74.6M | ||
| Q2 25 | $15.0M | $80.3M | ||
| Q1 25 | $-20.5M | $58.0M | ||
| Q4 24 | — | $121.4M | ||
| Q3 24 | $118.4M | $50.7M | ||
| Q2 24 | $-62.3M | $64.0M |
自由现金流率FORRRR
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | 15.2% | ||
| Q3 25 | 38.1% | 15.7% | ||
| Q2 25 | 3.8% | 15.3% | ||
| Q1 25 | -5.8% | 11.6% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | 21.5% | 10.8% | ||
| Q2 24 | -19.6% | 13.1% |
资本支出强度FORRRR
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 15.4% | ||
| Q3 25 | 0.1% | 19.7% | ||
| Q2 25 | 0.2% | 14.9% | ||
| Q1 25 | 0.2% | 13.7% | ||
| Q4 24 | 0.0% | 5.4% | ||
| Q3 24 | 0.1% | 17.2% | ||
| Q2 24 | 0.2% | 16.2% |
现金转化率FORRRR
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | 3.51× | ||
| Q3 25 | 2.95× | 3.98× | ||
| Q2 25 | 0.48× | 2.81× | ||
| Q1 25 | -0.63× | 2.82× | ||
| Q4 24 | -27.27× | 3.18× | ||
| Q3 24 | 1.46× | 4.53× | ||
| Q2 24 | -1.59× | 4.00× |
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% |
RRR
| Casino | $340.5M | 67% |
| Food and beverage | $90.3M | 18% |
| Room | $45.5M | 9% |
| Other | $26.2M | 5% |
| Native American management and development fees | $4.7M | 1% |
