vs
Forestar Group Inc.（FOR）与TIC Solutions, Inc.（TIC）财务数据对比。点击上方公司名可切换其他公司
TIC Solutions, Inc.的季度营收约是Forestar Group Inc.的1.9倍（$508.3M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -9.3%，领先14.9%），TIC Solutions, Inc.自由现金流更多（$37.1M vs $-157.1M）
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。
FOR vs TIC — 直观对比
营收规模更大
TIC
是对方的1.9倍
$273.0M
净利率更高
FOR
高出14.9%
-9.3%
自由现金流更多
TIC
多$194.2M
$-157.1M
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $508.3M |
| 净利润 | $15.4M | $-47.2M |
| 毛利率 | 20.1% | 35.2% |
| 营业利润率 | 7.6% | -3.8% |
| 净利率 | 5.6% | -9.3% |
| 营收同比 | 9.0% | — |
| 净利润同比 | -6.7% | — |
| 每股收益（稀释后） | $0.30 | — |
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FORTIC
| Q4 25 | $273.0M | $508.3M | ||
| Q3 25 | $670.5M | $473.9M | ||
| Q2 25 | $390.5M | $313.9M | ||
| Q1 25 | $351.0M | $234.2M | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $551.3M | — | ||
| Q2 24 | $318.4M | — | ||
| Q1 24 | $333.8M | — |
净利润FORTIC
| Q4 25 | $15.4M | $-47.2M | ||
| Q3 25 | $86.9M | $-13.9M | ||
| Q2 25 | $32.9M | $-233.0K | ||
| Q1 25 | $31.6M | $-25.8M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | — | ||
| Q2 24 | $38.7M | — | ||
| Q1 24 | $45.0M | — |
毛利率FORTIC
| Q4 25 | 20.1% | 35.2% | ||
| Q3 25 | 22.3% | 32.2% | ||
| Q2 25 | 20.4% | 23.6% | ||
| Q1 25 | 22.6% | 18.6% | ||
| Q4 24 | 22.0% | — | ||
| Q3 24 | 23.9% | — | ||
| Q2 24 | 22.5% | — | ||
| Q1 24 | 24.9% | — |
营业利润率FORTIC
| Q4 25 | 7.6% | -3.8% | ||
| Q3 25 | 16.9% | -1.4% | ||
| Q2 25 | 11.2% | 5.8% | ||
| Q1 25 | 11.6% | -4.0% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 19.7% | — | ||
| Q2 24 | 16.2% | — | ||
| Q1 24 | 17.6% | — |
净利率FORTIC
| Q4 25 | 5.6% | -9.3% | ||
| Q3 25 | 13.0% | -2.9% | ||
| Q2 25 | 8.4% | -0.1% | ||
| Q1 25 | 9.0% | -11.0% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | — | ||
| Q2 24 | 12.2% | — | ||
| Q1 24 | 13.5% | — |
每股收益（稀释后）FORTIC
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | $-0.08 | ||
| Q2 25 | $0.65 | — | ||
| Q1 25 | $0.62 | — | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | — | ||
| Q2 24 | $0.76 | — | ||
| Q1 24 | $0.89 | — |
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 | $439.5M |
| 总债务越低越好 | $793.2M | $1.6B |
| 股东权益账面价值 | $1.8B | $2.2B |
| 总资产 | $3.2B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.74× |
8季度趋势，按日历期对齐
现金及短期投资FORTIC
| Q4 25 | $211.7M | $439.5M | ||
| Q3 25 | $379.2M | $164.4M | ||
| Q2 25 | $189.2M | $130.1M | ||
| Q1 25 | $174.3M | $155.7M | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | — | ||
| Q2 24 | $359.2M | — | ||
| Q1 24 | $416.2M | — |
总债务FORTIC
| Q4 25 | $793.2M | $1.6B | ||
| Q3 25 | $802.7M | $1.6B | ||
| Q2 25 | $872.8M | $751.3M | ||
| Q1 25 | $872.5M | $752.4M | ||
| Q4 24 | $806.8M | — | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
股东权益FORTIC
| Q4 25 | $1.8B | $2.2B | ||
| Q3 25 | $1.8B | $2.0B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
总资产FORTIC
| Q4 25 | $3.2B | $4.4B | ||
| Q3 25 | $3.1B | $4.2B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $3.0B | $2.2B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.6B | — |
负债/权益比FORTIC
| Q4 25 | 0.44× | 0.74× | ||
| Q3 25 | 0.45× | 0.83× | ||
| Q2 25 | 0.52× | 0.64× | ||
| Q1 25 | 0.53× | 0.67× | ||
| 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 | $49.7M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $37.1M |
| 自由现金流率自由现金流/营收 | -57.5% | 7.3% |
| 资本支出强度资本支出/营收 | 0.0% | 2.5% |
| 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 | $61.3M |
8季度趋势，按日历期对齐
经营现金流FORTIC
| Q4 25 | $-157.0M | $49.7M | ||
| Q3 25 | $256.3M | $19.0M | ||
| Q2 25 | $15.8M | $-6.5M | ||
| Q1 25 | $-19.8M | $32.8M | ||
| Q4 24 | $-450.0M | — | ||
| Q3 24 | $119.2M | — | ||
| Q2 24 | $-61.7M | — | ||
| Q1 24 | $-59.2M | — |
自由现金流FORTIC
| Q4 25 | $-157.1M | $37.1M | ||
| Q3 25 | $255.6M | $10.3M | ||
| Q2 25 | $15.0M | $-14.5M | ||
| Q1 25 | $-20.5M | $28.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $-62.3M | — | ||
| Q1 24 | $-59.8M | — |
自由现金流率FORTIC
| Q4 25 | -57.5% | 7.3% | ||
| Q3 25 | 38.1% | 2.2% | ||
| Q2 25 | 3.8% | -4.6% | ||
| Q1 25 | -5.8% | 12.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -17.9% | — |
资本支出强度FORTIC
| Q4 25 | 0.0% | 2.5% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.2% | 2.6% | ||
| Q1 25 | 0.2% | 1.9% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
现金转化率FORTIC
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| 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% |
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
