vs
Forestar Group Inc.（FOR）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是Forestar Group Inc.的1.4倍（$385.7M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -5.8%，领先11.5%），Forestar Group Inc.同比增速更快（9.0% vs -4.1%），BOSTON BEER CO INC自由现金流更多（$22.1M vs $-157.1M），过去两年BOSTON BEER CO INC的营收复合增速更高（-4.9% 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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
FOR vs SAM — 直观对比
营收规模更大
SAM
是对方的1.4倍
$273.0M
营收增速更快
FOR
高出13.2%
-4.1%
净利率更高
FOR
高出11.5%
-5.8%
自由现金流更多
SAM
多$179.2M
$-157.1M
两年增速更快
SAM
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $385.7M |
| 净利润 | $15.4M | $-22.5M |
| 毛利率 | 20.1% | 43.5% |
| 营业利润率 | 7.6% | -8.6% |
| 净利率 | 5.6% | -5.8% |
| 营收同比 | 9.0% | -4.1% |
| 净利润同比 | -6.7% | 41.9% |
| 每股收益（稀释后） | $0.30 | $-1.97 |
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FORSAM
| Q4 25 | $273.0M | $385.7M | ||
| Q3 25 | $670.5M | $537.5M | ||
| Q2 25 | $390.5M | $587.9M | ||
| Q1 25 | $351.0M | $453.9M | ||
| Q4 24 | $250.4M | $402.3M | ||
| Q3 24 | $551.3M | $605.5M | ||
| Q2 24 | $318.4M | $579.1M | ||
| Q1 24 | $333.8M | $426.1M |
净利润FORSAM
| Q4 25 | $15.4M | $-22.5M | ||
| Q3 25 | $86.9M | $46.2M | ||
| Q2 25 | $32.9M | $60.4M | ||
| Q1 25 | $31.6M | $24.4M | ||
| Q4 24 | $16.5M | $-38.8M | ||
| Q3 24 | $81.5M | $33.5M | ||
| Q2 24 | $38.7M | $52.3M | ||
| Q1 24 | $45.0M | $12.6M |
毛利率FORSAM
| Q4 25 | 20.1% | 43.5% | ||
| Q3 25 | 22.3% | 50.8% | ||
| Q2 25 | 20.4% | 49.8% | ||
| Q1 25 | 22.6% | 48.3% | ||
| Q4 24 | 22.0% | 39.9% | ||
| Q3 24 | 23.9% | 46.3% | ||
| Q2 24 | 22.5% | 46.0% | ||
| Q1 24 | 24.9% | 43.7% |
营业利润率FORSAM
| Q4 25 | 7.6% | -8.6% | ||
| Q3 25 | 16.9% | 11.5% | ||
| Q2 25 | 11.2% | 14.0% | ||
| Q1 25 | 11.6% | 7.4% | ||
| Q4 24 | 8.7% | -13.9% | ||
| Q3 24 | 19.7% | 7.6% | ||
| Q2 24 | 16.2% | 12.2% | ||
| Q1 24 | 17.6% | 3.6% |
净利率FORSAM
| Q4 25 | 5.6% | -5.8% | ||
| Q3 25 | 13.0% | 8.6% | ||
| Q2 25 | 8.4% | 10.3% | ||
| Q1 25 | 9.0% | 5.4% | ||
| Q4 24 | 6.6% | -9.6% | ||
| Q3 24 | 14.8% | 5.5% | ||
| Q2 24 | 12.2% | 9.0% | ||
| Q1 24 | 13.5% | 3.0% |
每股收益（稀释后）FORSAM
| Q4 25 | $0.30 | $-1.97 | ||
| Q3 25 | $1.70 | $4.25 | ||
| Q2 25 | $0.65 | $5.45 | ||
| Q1 25 | $0.62 | $2.16 | ||
| Q4 24 | $0.32 | $-3.23 | ||
| Q3 24 | $1.59 | $2.86 | ||
| Q2 24 | $0.76 | $4.39 | ||
| Q1 24 | $0.89 | $1.04 |
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 | $223.4M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $846.3M |
| 总资产 | $3.2B | $1.2B |
| 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FORSAM
| Q4 25 | $211.7M | $223.4M | ||
| Q3 25 | $379.2M | $250.5M | ||
| Q2 25 | $189.2M | $212.4M | ||
| Q1 25 | $174.3M | $152.5M | ||
| Q4 24 | $132.0M | $211.8M | ||
| Q3 24 | $481.2M | $255.6M | ||
| Q2 24 | $359.2M | $219.3M | ||
| Q1 24 | $416.2M | $205.4M |
总债务FORSAM
| 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FORSAM
| Q4 25 | $1.8B | $846.3M | ||
| Q3 25 | $1.8B | $911.0M | ||
| Q2 25 | $1.7B | $912.3M | ||
| Q1 25 | $1.6B | $897.0M | ||
| Q4 24 | $1.6B | $916.2M | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $1.0B | ||
| Q1 24 | $1.5B | $1.0B |
总资产FORSAM
| Q4 25 | $3.2B | $1.2B | ||
| Q3 25 | $3.1B | $1.2B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.0B | $1.2B | ||
| Q4 24 | $3.0B | $1.3B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.4B | ||
| Q1 24 | $2.6B | $1.4B |
负债/权益比FORSAM
| 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 | $39.9M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $22.1M |
| 自由现金流率自由现金流/营收 | -57.5% | 5.7% |
| 资本支出强度资本支出/营收 | 0.0% | 4.6% |
| 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 | $215.6M |
8季度趋势，按日历期对齐
经营现金流FORSAM
| Q4 25 | $-157.0M | $39.9M | ||
| Q3 25 | $256.3M | $101.8M | ||
| Q2 25 | $15.8M | $126.5M | ||
| Q1 25 | $-19.8M | $1.9M | ||
| Q4 24 | $-450.0M | $41.9M | ||
| Q3 24 | $119.2M | $115.9M | ||
| Q2 24 | $-61.7M | $96.0M | ||
| Q1 24 | $-59.2M | $-4.9M |
自由现金流FORSAM
| Q4 25 | $-157.1M | $22.1M | ||
| Q3 25 | $255.6M | $89.2M | ||
| Q2 25 | $15.0M | $112.2M | ||
| Q1 25 | $-20.5M | $-8.0M | ||
| Q4 24 | — | $18.4M | ||
| Q3 24 | $118.4M | $99.2M | ||
| Q2 24 | $-62.3M | $75.6M | ||
| Q1 24 | $-59.8M | $-20.6M |
自由现金流率FORSAM
| Q4 25 | -57.5% | 5.7% | ||
| Q3 25 | 38.1% | 16.6% | ||
| Q2 25 | 3.8% | 19.1% | ||
| Q1 25 | -5.8% | -1.8% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | 21.5% | 16.4% | ||
| Q2 24 | -19.6% | 13.1% | ||
| Q1 24 | -17.9% | -4.8% |
资本支出强度FORSAM
| Q4 25 | 0.0% | 4.6% | ||
| Q3 25 | 0.1% | 2.3% | ||
| Q2 25 | 0.2% | 2.4% | ||
| Q1 25 | 0.2% | 2.2% | ||
| Q4 24 | 0.0% | 5.8% | ||
| Q3 24 | 0.1% | 2.8% | ||
| Q2 24 | 0.2% | 3.5% | ||
| Q1 24 | 0.2% | 3.7% |
现金转化率FORSAM
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 2.21× | ||
| Q2 25 | 0.48× | 2.09× | ||
| Q1 25 | -0.63× | 0.08× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 3.46× | ||
| Q2 24 | -1.59× | 1.83× | ||
| Q1 24 | -1.32× | -0.39× |
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% |
SAM
暂无分部数据
