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Forestar Group Inc.（FOR）与边疆航空（SNCY）财务数据对比。点击上方公司名可切换其他公司
边疆航空的季度营收约是Forestar Group Inc.的1.0倍（$281.0M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs 2.9%，领先2.7%），Forestar Group Inc.同比增速更快（9.0% vs 7.9%），边疆航空自由现金流更多（$34.9M vs $-157.1M），过去两年边疆航空的营收复合增速更高（-5.0% 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。
边疆航空是美国主流超低成本航空公司，总部位于科罗拉多州丹佛市。该航司运营飞往美国本土、加勒比地区、墨西哥及中美洲共120余个目的地的航线，员工规模超过5000人，目前为公开上市企业，枢纽基地覆盖丹佛国际机场、奥兰多国际机场，以及美国本土和波多黎各的另外11座城市。
FOR vs SNCY — 直观对比
营收规模更大
SNCY
是对方的1.0倍
$273.0M
营收增速更快
FOR
高出1.1%
7.9%
净利率更高
FOR
高出2.7%
2.9%
自由现金流更多
SNCY
多$192.0M
$-157.1M
两年增速更快
SNCY
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $281.0M |
| 净利润 | $15.4M | $8.1M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 6.5% |
| 净利率 | 5.6% | 2.9% |
| 营收同比 | 9.0% | 7.9% |
| 净利润同比 | -6.7% | -39.4% |
| 每股收益（稀释后） | $0.30 | $0.15 |
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FORSNCY
| Q4 25 | $273.0M | $281.0M | ||
| Q3 25 | $670.5M | $255.5M | ||
| Q2 25 | $390.5M | $263.6M | ||
| Q1 25 | $351.0M | $326.6M | ||
| Q4 24 | $250.4M | $260.4M | ||
| Q3 24 | $551.3M | $249.5M | ||
| Q2 24 | $318.4M | $254.4M | ||
| Q1 24 | $333.8M | $311.5M |
净利润FORSNCY
| Q4 25 | $15.4M | $8.1M | ||
| Q3 25 | $86.9M | $1.6M | ||
| Q2 25 | $32.9M | $6.6M | ||
| Q1 25 | $31.6M | $36.5M | ||
| Q4 24 | $16.5M | $13.4M | ||
| Q3 24 | $81.5M | $2.3M | ||
| Q2 24 | $38.7M | $1.8M | ||
| Q1 24 | $45.0M | $35.3M |
毛利率FORSNCY
| 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FORSNCY
| Q4 25 | 7.6% | 6.5% | ||
| Q3 25 | 16.9% | 3.9% | ||
| Q2 25 | 11.2% | 6.2% | ||
| Q1 25 | 11.6% | 17.2% | ||
| Q4 24 | 8.7% | 10.0% | ||
| Q3 24 | 19.7% | 5.0% | ||
| Q2 24 | 16.2% | 4.9% | ||
| Q1 24 | 17.6% | 17.7% |
净利率FORSNCY
| Q4 25 | 5.6% | 2.9% | ||
| Q3 25 | 13.0% | 0.6% | ||
| Q2 25 | 8.4% | 2.5% | ||
| Q1 25 | 9.0% | 11.2% | ||
| Q4 24 | 6.6% | 5.2% | ||
| Q3 24 | 14.8% | 0.9% | ||
| Q2 24 | 12.2% | 0.7% | ||
| Q1 24 | 13.5% | 11.3% |
每股收益（稀释后）FORSNCY
| Q4 25 | $0.30 | $0.15 | ||
| Q3 25 | $1.70 | $0.03 | ||
| Q2 25 | $0.65 | $0.12 | ||
| Q1 25 | $0.62 | $0.66 | ||
| Q4 24 | $0.32 | $0.25 | ||
| Q3 24 | $1.59 | $0.04 | ||
| Q2 24 | $0.76 | $0.03 | ||
| Q1 24 | $0.89 | $0.64 |
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 | $234.3M |
| 总债务越低越好 | $793.2M | $323.3M |
| 股东权益账面价值 | $1.8B | $625.2M |
| 总资产 | $3.2B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资FORSNCY
| Q4 25 | $211.7M | $234.3M | ||
| Q3 25 | $379.2M | $176.2M | ||
| Q2 25 | $189.2M | $138.3M | ||
| Q1 25 | $174.3M | $158.8M | ||
| Q4 24 | $132.0M | $187.3M | ||
| Q3 24 | $481.2M | $146.5M | ||
| Q2 24 | $359.2M | $135.2M | ||
| Q1 24 | $416.2M | $161.2M |
总债务FORSNCY
| Q4 25 | $793.2M | $323.3M | ||
| Q3 25 | $802.7M | $301.3M | ||
| Q2 25 | $872.8M | $282.1M | ||
| Q1 25 | $872.5M | $312.6M | ||
| Q4 24 | $806.8M | $327.1M | ||
| Q3 24 | $706.4M | $351.8M | ||
| Q2 24 | $706.1M | $365.5M | ||
| Q1 24 | $705.7M | $388.1M |
股东权益FORSNCY
| Q4 25 | $1.8B | $625.2M | ||
| Q3 25 | $1.8B | $610.2M | ||
| Q2 25 | $1.7B | $613.0M | ||
| Q1 25 | $1.6B | $603.0M | ||
| Q4 24 | $1.6B | $570.4M | ||
| Q3 24 | $1.6B | $552.5M | ||
| Q2 24 | $1.5B | $546.9M | ||
| Q1 24 | $1.5B | $541.0M |
总资产FORSNCY
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.1B | $1.6B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $3.0B | $1.6B | ||
| Q3 24 | $2.8B | $1.6B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.6B |
负债/权益比FORSNCY
| Q4 25 | 0.44× | 0.52× | ||
| Q3 25 | 0.45× | 0.49× | ||
| Q2 25 | 0.52× | 0.46× | ||
| Q1 25 | 0.53× | 0.52× | ||
| Q4 24 | 0.50× | 0.57× | ||
| Q3 24 | 0.44× | 0.64× | ||
| Q2 24 | 0.47× | 0.67× | ||
| Q1 24 | 0.48× | 0.72× |
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 | $78.9M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $34.9M |
| 自由现金流率自由现金流/营收 | -57.5% | 12.4% |
| 资本支出强度资本支出/营收 | 0.0% | 15.7% |
| 现金转化率经营现金流/净利润 | -10.19× | 9.69× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $84.0M |
8季度趋势，按日历期对齐
经营现金流FORSNCY
| Q4 25 | $-157.0M | $78.9M | ||
| Q3 25 | $256.3M | $41.9M | ||
| Q2 25 | $15.8M | $19.8M | ||
| Q1 25 | $-19.8M | $16.4M | ||
| Q4 24 | $-450.0M | $90.6M | ||
| Q3 24 | $119.2M | $35.4M | ||
| Q2 24 | $-61.7M | $8.2M | ||
| Q1 24 | $-59.2M | $30.7M |
自由现金流FORSNCY
| Q4 25 | $-157.1M | $34.9M | ||
| Q3 25 | $255.6M | $34.0M | ||
| Q2 25 | $15.0M | $14.0M | ||
| Q1 25 | $-20.5M | $1.0M | ||
| Q4 24 | — | $85.8M | ||
| Q3 24 | $118.4M | $31.0M | ||
| Q2 24 | $-62.3M | $-382.0K | ||
| Q1 24 | $-59.8M | $1.0M |
自由现金流率FORSNCY
| Q4 25 | -57.5% | 12.4% | ||
| Q3 25 | 38.1% | 13.3% | ||
| Q2 25 | 3.8% | 5.3% | ||
| Q1 25 | -5.8% | 0.3% | ||
| Q4 24 | — | 33.0% | ||
| Q3 24 | 21.5% | 12.4% | ||
| Q2 24 | -19.6% | -0.2% | ||
| Q1 24 | -17.9% | 0.3% |
资本支出强度FORSNCY
| Q4 25 | 0.0% | 15.7% | ||
| Q3 25 | 0.1% | 3.1% | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | 0.2% | 4.7% | ||
| Q4 24 | 0.0% | 1.8% | ||
| Q3 24 | 0.1% | 1.8% | ||
| Q2 24 | 0.2% | 3.4% | ||
| Q1 24 | 0.2% | 9.5% |
现金转化率FORSNCY
| Q4 25 | -10.19× | 9.69× | ||
| Q3 25 | 2.95× | 27.03× | ||
| Q2 25 | 0.48× | 3.01× | ||
| Q1 25 | -0.63× | 0.45× | ||
| Q4 24 | -27.27× | 6.74× | ||
| Q3 24 | 1.46× | 15.13× | ||
| Q2 24 | -1.59× | 4.50× | ||
| Q1 24 | -1.32× | 0.87× |
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% |
SNCY
| Scheduled Service | $95.6M | 34% |
| Ancillary | $69.3M | 25% |
| Charter Service | $56.6M | 20% |
| Cargo And Freight | $48.0M | 17% |
| Service Other | $11.4M | 4% |
