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Forestar Group Inc.（FOR）与Thryv Holdings, Inc.（THRY）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Thryv Holdings, Inc.的1.6倍（$273.0M vs $167.7M），Forestar Group Inc.净利率更高（5.6% vs 2.7%，领先2.9%），Forestar Group Inc.同比增速更快（9.0% vs -7.5%），Thryv Holdings, Inc.自由现金流更多（$-5.5M vs $-157.1M），过去两年Forestar Group Inc.的营收复合增速更高（-9.6% vs -13.5%）
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。
Thryv Holdings, Inc.是一家上市软件服务（SaaS）企业，面向中小企业提供客户关系管理与网络声誉管理软件解决方案。公司总部位于得克萨斯州达拉斯，业务覆盖美国48个州，现有员工超过2400名，其前身是多家黄页企业组成的集团。
FOR vs THRY — 直观对比
营收规模更大
FOR
是对方的1.6倍
$167.7M
营收增速更快
FOR
高出16.6%
-7.5%
净利率更高
FOR
高出2.9%
2.7%
自由现金流更多
THRY
多$151.6M
$-157.1M
两年增速更快
FOR
近两年复合增速
-13.5%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $167.7M |
| 净利润 | $15.4M | $4.5M |
| 毛利率 | 20.1% | 65.2% |
| 营业利润率 | 7.6% | 37.3% |
| 净利率 | 5.6% | 2.7% |
| 营收同比 | 9.0% | -7.5% |
| 净利润同比 | -6.7% | 147.2% |
| 每股收益（稀释后） | $0.30 | $0.10 |
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FORTHRY
| Q1 26 | — | $167.7M | ||
| Q4 25 | $273.0M | $191.6M | ||
| Q3 25 | $670.5M | $201.6M | ||
| Q2 25 | $390.5M | $210.5M | ||
| Q1 25 | $351.0M | $181.4M | ||
| Q4 24 | $250.4M | $186.6M | ||
| Q3 24 | $551.3M | $179.9M | ||
| Q2 24 | $318.4M | $224.1M |
净利润FORTHRY
| Q1 26 | — | $4.5M | ||
| Q4 25 | $15.4M | $-9.7M | ||
| Q3 25 | $86.9M | $5.7M | ||
| Q2 25 | $32.9M | $13.9M | ||
| Q1 25 | $31.6M | $-9.6M | ||
| Q4 24 | $16.5M | $7.9M | ||
| Q3 24 | $81.5M | $-96.1M | ||
| Q2 24 | $38.7M | $5.5M |
毛利率FORTHRY
| Q1 26 | — | 65.2% | ||
| Q4 25 | 20.1% | 68.0% | ||
| Q3 25 | 22.3% | 67.7% | ||
| Q2 25 | 20.4% | 69.7% | ||
| Q1 25 | 22.6% | 65.8% | ||
| Q4 24 | 22.0% | 65.9% | ||
| Q3 24 | 23.9% | 62.3% | ||
| Q2 24 | 22.5% | 66.3% |
营业利润率FORTHRY
| Q1 26 | — | 37.3% | ||
| Q4 25 | 7.6% | 5.3% | ||
| Q3 25 | 16.9% | 9.9% | ||
| Q2 25 | 11.2% | 14.0% | ||
| Q1 25 | 11.6% | -1.7% | ||
| Q4 24 | 8.7% | -3.9% | ||
| Q3 24 | 19.7% | -49.2% | ||
| Q2 24 | 16.2% | 14.0% |
净利率FORTHRY
| Q1 26 | — | 2.7% | ||
| Q4 25 | 5.6% | -5.0% | ||
| Q3 25 | 13.0% | 2.8% | ||
| Q2 25 | 8.4% | 6.6% | ||
| Q1 25 | 9.0% | -5.3% | ||
| Q4 24 | 6.6% | 4.2% | ||
| Q3 24 | 14.8% | -53.4% | ||
| Q2 24 | 12.2% | 2.5% |
每股收益（稀释后）FORTHRY
| Q1 26 | — | $0.10 | ||
| Q4 25 | $0.30 | $-0.21 | ||
| Q3 25 | $1.70 | $0.13 | ||
| Q2 25 | $0.65 | $0.31 | ||
| Q1 25 | $0.62 | $-0.22 | ||
| Q4 24 | $0.32 | $0.28 | ||
| Q3 24 | $1.59 | $-2.65 | ||
| Q2 24 | $0.76 | $0.15 |
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 | $8.0M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $225.4M |
| 总资产 | $3.2B | $693.7M |
| 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FORTHRY
| Q1 26 | — | $8.0M | ||
| Q4 25 | $211.7M | $10.8M | ||
| Q3 25 | $379.2M | $11.6M | ||
| Q2 25 | $189.2M | $10.8M | ||
| Q1 25 | $174.3M | $11.0M | ||
| Q4 24 | $132.0M | $16.3M | ||
| Q3 24 | $481.2M | $12.5M | ||
| Q2 24 | $359.2M | $15.5M |
总债务FORTHRY
| Q1 26 | — | — | ||
| Q4 25 | $793.2M | $253.5M | ||
| Q3 25 | $802.7M | $268.2M | ||
| Q2 25 | $872.8M | $275.6M | ||
| Q1 25 | $872.5M | $299.0M | ||
| Q4 24 | $806.8M | $284.3M | ||
| Q3 24 | $706.4M | $307.8M | ||
| Q2 24 | $706.1M | $342.1M |
股东权益FORTHRY
| Q1 26 | — | $225.4M | ||
| Q4 25 | $1.8B | $218.1M | ||
| Q3 25 | $1.8B | $221.1M | ||
| Q2 25 | $1.7B | $214.9M | ||
| Q1 25 | $1.6B | $193.2M | ||
| Q4 24 | $1.6B | $196.9M | ||
| Q3 24 | $1.6B | $94.5M | ||
| Q2 24 | $1.5B | $183.1M |
总资产FORTHRY
| Q1 26 | — | $693.7M | ||
| Q4 25 | $3.2B | $688.6M | ||
| Q3 25 | $3.1B | $701.8M | ||
| Q2 25 | $3.1B | $687.7M | ||
| Q1 25 | $3.0B | $703.7M | ||
| Q4 24 | $3.0B | $712.2M | ||
| Q3 24 | $2.8B | $654.8M | ||
| Q2 24 | $2.7B | $785.5M |
负债/权益比FORTHRY
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 1.16× | ||
| Q3 25 | 0.45× | 1.21× | ||
| Q2 25 | 0.52× | 1.28× | ||
| Q1 25 | 0.53× | 1.55× | ||
| Q4 24 | 0.50× | 1.44× | ||
| Q3 24 | 0.44× | 3.26× | ||
| Q2 24 | 0.47× | 1.87× |
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 | $-5.5M |
| 自由现金流率自由现金流/营收 | -57.5% | -3.3% |
| 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 | $43.3M |
8季度趋势，按日历期对齐
经营现金流FORTHRY
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $22.2M | ||
| Q3 25 | $256.3M | $22.2M | ||
| Q2 25 | $15.8M | $29.6M | ||
| Q1 25 | $-19.8M | $-10.5M | ||
| Q4 24 | $-450.0M | $26.1M | ||
| Q3 24 | $119.2M | $36.0M | ||
| Q2 24 | $-61.7M | $22.2M |
自由现金流FORTHRY
| Q1 26 | — | $-5.5M | ||
| Q4 25 | $-157.1M | $12.3M | ||
| Q3 25 | $255.6M | $14.6M | ||
| Q2 25 | $15.0M | $21.8M | ||
| Q1 25 | $-20.5M | $-17.6M | ||
| Q4 24 | — | $17.3M | ||
| Q3 24 | $118.4M | $27.5M | ||
| Q2 24 | $-62.3M | $13.3M |
自由现金流率FORTHRY
| Q1 26 | — | -3.3% | ||
| Q4 25 | -57.5% | 6.4% | ||
| Q3 25 | 38.1% | 7.2% | ||
| Q2 25 | 3.8% | 10.4% | ||
| Q1 25 | -5.8% | -9.7% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | 21.5% | 15.3% | ||
| Q2 24 | -19.6% | 5.9% |
资本支出强度FORTHRY
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 5.2% | ||
| Q3 25 | 0.1% | 3.8% | ||
| Q2 25 | 0.2% | 3.7% | ||
| Q1 25 | 0.2% | 3.9% | ||
| Q4 24 | 0.0% | 4.7% | ||
| Q3 24 | 0.1% | 4.7% | ||
| Q2 24 | 0.2% | 4.0% |
现金转化率FORTHRY
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 3.93× | ||
| Q2 25 | 0.48× | 2.12× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 3.32× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | 4.01× |
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% |
THRY
| SaaS | $116.7M | 70% |
| Other | $50.9M | 30% |
