vs
Forestar Group Inc.（FOR）与升特（SMTC）财务数据对比。点击上方公司名可切换其他公司
Forestar Group Inc.的季度营收约是升特的1.0倍（$273.0M vs $267.0M），Forestar Group Inc.净利率更高（5.6% vs -1.1%，领先6.7%），升特同比增速更快（12.7% vs 9.0%），升特自由现金流更多（$44.6M vs $-157.1M），过去两年升特的营收复合增速更高（17.6% 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。
升特（Semtech）是美国模拟与混合信号半导体及先进算法供应商，产品覆盖消费电子、企业计算、通信、工业等终端领域。公司1960年成立于加利福尼亚州纽伯里帕克，总部位于南加州卡马里奥，目前在北美、欧洲、亚洲的15个国家设有32个分支机构。
FOR vs SMTC — 直观对比
营收规模更大
FOR
是对方的1.0倍
$267.0M
营收增速更快
SMTC
高出3.7%
9.0%
净利率更高
FOR
高出6.7%
-1.1%
自由现金流更多
SMTC
多$201.7M
$-157.1M
两年增速更快
SMTC
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $267.0M |
| 净利润 | $15.4M | $-2.9M |
| 毛利率 | 20.1% | 51.9% |
| 营业利润率 | 7.6% | 11.6% |
| 净利率 | 5.6% | -1.1% |
| 营收同比 | 9.0% | 12.7% |
| 净利润同比 | -6.7% | 62.3% |
| 每股收益（稀释后） | $0.30 | $-0.03 |
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FORSMTC
| Q4 25 | $273.0M | $267.0M | ||
| Q3 25 | $670.5M | $257.6M | ||
| Q2 25 | $390.5M | $251.1M | ||
| Q1 25 | $351.0M | $251.0M | ||
| Q4 24 | $250.4M | $236.8M | ||
| Q3 24 | $551.3M | $215.4M | ||
| Q2 24 | $318.4M | $206.1M | ||
| Q1 24 | $333.8M | $192.9M |
净利润FORSMTC
| Q4 25 | $15.4M | $-2.9M | ||
| Q3 25 | $86.9M | $-27.1M | ||
| Q2 25 | $32.9M | $19.3M | ||
| Q1 25 | $31.6M | $39.1M | ||
| Q4 24 | $16.5M | $-7.6M | ||
| Q3 24 | $81.5M | $-170.3M | ||
| Q2 24 | $38.7M | $-23.2M | ||
| Q1 24 | $45.0M | $-642.4M |
毛利率FORSMTC
| Q4 25 | 20.1% | 51.9% | ||
| Q3 25 | 22.3% | 52.1% | ||
| Q2 25 | 20.4% | 52.3% | ||
| Q1 25 | 22.6% | 52.0% | ||
| Q4 24 | 22.0% | 51.1% | ||
| Q3 24 | 23.9% | 49.0% | ||
| Q2 24 | 22.5% | 48.3% | ||
| Q1 24 | 24.9% | -0.2% |
营业利润率FORSMTC
| Q4 25 | 7.6% | 11.6% | ||
| Q3 25 | 16.9% | -6.3% | ||
| Q2 25 | 11.2% | 14.3% | ||
| Q1 25 | 11.6% | 8.5% | ||
| Q4 24 | 8.7% | 7.5% | ||
| Q3 24 | 19.7% | 3.6% | ||
| Q2 24 | 16.2% | 1.5% | ||
| Q1 24 | 17.6% | -321.3% |
净利率FORSMTC
| Q4 25 | 5.6% | -1.1% | ||
| Q3 25 | 13.0% | -10.5% | ||
| Q2 25 | 8.4% | 7.7% | ||
| Q1 25 | 9.0% | 15.6% | ||
| Q4 24 | 6.6% | -3.2% | ||
| Q3 24 | 14.8% | -79.1% | ||
| Q2 24 | 12.2% | -11.2% | ||
| Q1 24 | 13.5% | -332.9% |
每股收益（稀释后）FORSMTC
| Q4 25 | $0.30 | $-0.03 | ||
| Q3 25 | $1.70 | $-0.31 | ||
| Q2 25 | $0.65 | $0.22 | ||
| Q1 25 | $0.62 | $0.81 | ||
| Q4 24 | $0.32 | $-0.10 | ||
| Q3 24 | $1.59 | $-2.61 | ||
| Q2 24 | $0.76 | $-0.36 | ||
| Q1 24 | $0.89 | $-10.00 |
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 | $164.7M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $565.7M |
| 总资产 | $3.2B | $1.4B |
| 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FORSMTC
| Q4 25 | $211.7M | $164.7M | ||
| Q3 25 | $379.2M | $168.6M | ||
| Q2 25 | $189.2M | $156.5M | ||
| Q1 25 | $174.3M | $151.7M | ||
| Q4 24 | $132.0M | $136.5M | ||
| Q3 24 | $481.2M | $115.9M | ||
| Q2 24 | $359.2M | $126.8M | ||
| Q1 24 | $416.2M | $128.6M |
总债务FORSMTC
| 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FORSMTC
| Q4 25 | $1.8B | $565.7M | ||
| Q3 25 | $1.8B | $552.9M | ||
| Q2 25 | $1.7B | $568.8M | ||
| Q1 25 | $1.6B | $542.4M | ||
| Q4 24 | $1.6B | $-139.7M | ||
| Q3 24 | $1.6B | $-141.4M | ||
| Q2 24 | $1.5B | $-313.1M | ||
| Q1 24 | $1.5B | $-307.4M |
总资产FORSMTC
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $3.1B | $1.4B | ||
| Q2 25 | $3.1B | $1.4B | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.0B | $1.4B | ||
| Q3 24 | $2.8B | $1.4B | ||
| Q2 24 | $2.7B | $1.4B | ||
| Q1 24 | $2.6B | $1.4B |
负债/权益比FORSMTC
| 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 | $47.5M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $44.6M |
| 自由现金流率自由现金流/营收 | -57.5% | 16.7% |
| 资本支出强度资本支出/营收 | 0.0% | 1.1% |
| 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 | $143.2M |
8季度趋势，按日历期对齐
经营现金流FORSMTC
| Q4 25 | $-157.0M | $47.5M | ||
| Q3 25 | $256.3M | $44.4M | ||
| Q2 25 | $15.8M | $27.8M | ||
| Q1 25 | $-19.8M | $33.5M | ||
| Q4 24 | $-450.0M | $29.6M | ||
| Q3 24 | $119.2M | $-5.0M | ||
| Q2 24 | $-61.7M | $-89.0K | ||
| Q1 24 | $-59.2M | $13.9M |
自由现金流FORSMTC
| Q4 25 | $-157.1M | $44.6M | ||
| Q3 25 | $255.6M | $41.5M | ||
| Q2 25 | $15.0M | $26.2M | ||
| Q1 25 | $-20.5M | $30.9M | ||
| Q4 24 | — | $29.1M | ||
| Q3 24 | $118.4M | $-8.4M | ||
| Q2 24 | $-62.3M | $-1.4M | ||
| Q1 24 | $-59.8M | $12.2M |
自由现金流率FORSMTC
| Q4 25 | -57.5% | 16.7% | ||
| Q3 25 | 38.1% | 16.1% | ||
| Q2 25 | 3.8% | 10.4% | ||
| Q1 25 | -5.8% | 12.3% | ||
| Q4 24 | — | 12.3% | ||
| Q3 24 | 21.5% | -3.9% | ||
| Q2 24 | -19.6% | -0.7% | ||
| Q1 24 | -17.9% | 6.3% |
资本支出强度FORSMTC
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | 0.1% | 1.1% | ||
| Q2 25 | 0.2% | 0.7% | ||
| Q1 25 | 0.2% | 1.0% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.2% | 0.6% | ||
| Q1 24 | 0.2% | 0.9% |
现金转化率FORSMTC
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 1.44× | ||
| Q1 25 | -0.63× | 0.86× | ||
| 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% |
SMTC
| Products | $239.5M | 90% |
| Services | $27.4M | 10% |
