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Forestar Group Inc.（FOR）与Tilray Brands, Inc.（TLRY）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Tilray Brands, Inc.的1.3倍（$273.0M vs $217.5M），Forestar Group Inc.净利率更高（5.6% vs -20.7%，领先26.3%），Forestar Group Inc.同比增速更快（9.0% vs 3.1%），过去两年Tilray Brands, Inc.的营收复合增速更高（7.5% 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。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
FOR vs TLRY — 直观对比
营收规模更大
FOR
是对方的1.3倍
$217.5M
营收增速更快
FOR
高出5.9%
3.1%
净利率更高
FOR
高出26.3%
-20.7%
两年增速更快
TLRY
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $217.5M |
| 净利润 | $15.4M | $-44.9M |
| 毛利率 | 20.1% | 26.4% |
| 营业利润率 | 7.6% | -10.2% |
| 净利率 | 5.6% | -20.7% |
| 营收同比 | 9.0% | 3.1% |
| 净利润同比 | -6.7% | 47.4% |
| 每股收益（稀释后） | $0.30 | $-0.41 |
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FORTLRY
| Q4 25 | $273.0M | $217.5M | ||
| Q3 25 | $670.5M | $209.5M | ||
| Q2 25 | $390.5M | $224.5M | ||
| Q1 25 | $351.0M | $185.8M | ||
| Q4 24 | $250.4M | $210.9M | ||
| Q3 24 | $551.3M | $200.0M | ||
| Q2 24 | $318.4M | $229.9M | ||
| Q1 24 | $333.8M | $188.3M |
净利润FORTLRY
| Q4 25 | $15.4M | $-44.9M | ||
| Q3 25 | $86.9M | $-322.0K | ||
| Q2 25 | $32.9M | $-1.3B | ||
| Q1 25 | $31.6M | $-789.4M | ||
| Q4 24 | $16.5M | $-85.3M | ||
| Q3 24 | $81.5M | $-39.2M | ||
| Q2 24 | $38.7M | $-31.7M | ||
| Q1 24 | $45.0M | $-92.7M |
毛利率FORTLRY
| Q4 25 | 20.1% | 26.4% | ||
| Q3 25 | 22.3% | 27.4% | ||
| Q2 25 | 20.4% | 30.1% | ||
| Q1 25 | 22.6% | 28.0% | ||
| Q4 24 | 22.0% | 29.0% | ||
| Q3 24 | 23.9% | 29.8% | ||
| Q2 24 | 22.5% | 35.8% | ||
| Q1 24 | 24.9% | 26.2% |
营业利润率FORTLRY
| Q4 25 | 7.6% | -10.2% | ||
| Q3 25 | 16.9% | 1.0% | ||
| Q2 25 | 11.2% | -643.1% | ||
| Q1 25 | 11.6% | -409.0% | ||
| Q4 24 | 8.7% | -20.0% | ||
| Q3 24 | 19.7% | -18.3% | ||
| Q2 24 | 16.2% | -7.2% | ||
| Q1 24 | 17.6% | -43.6% |
净利率FORTLRY
| Q4 25 | 5.6% | -20.7% | ||
| Q3 25 | 13.0% | -0.2% | ||
| Q2 25 | 8.4% | -566.9% | ||
| Q1 25 | 9.0% | -424.9% | ||
| Q4 24 | 6.6% | -40.5% | ||
| Q3 24 | 14.8% | -19.6% | ||
| Q2 24 | 12.2% | -13.8% | ||
| Q1 24 | 13.5% | -49.2% |
每股收益（稀释后）FORTLRY
| Q4 25 | $0.30 | $-0.41 | ||
| Q3 25 | $1.70 | $0.00 | ||
| Q2 25 | $0.65 | $7.26 | ||
| Q1 25 | $0.62 | $-8.69 | ||
| Q4 24 | $0.32 | $-0.99 | ||
| Q3 24 | $1.59 | $-0.04 | ||
| Q2 24 | $0.76 | $-0.04 | ||
| Q1 24 | $0.89 | $-0.12 |
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 | $291.6M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $1.6B |
| 总资产 | $3.2B | $2.1B |
| 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FORTLRY
| Q4 25 | $211.7M | $291.6M | ||
| Q3 25 | $379.2M | $264.8M | ||
| Q2 25 | $189.2M | $256.4M | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | $252.2M | ||
| Q3 24 | $481.2M | $280.1M | ||
| Q2 24 | $359.2M | $260.5M | ||
| Q1 24 | $416.2M | $225.9M |
总债务FORTLRY
| 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FORTLRY
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.6B | $2.7B | ||
| Q4 24 | $1.6B | $3.5B | ||
| Q3 24 | $1.6B | $3.5B | ||
| Q2 24 | $1.5B | $3.4B | ||
| Q1 24 | $1.5B | $3.4B |
总资产FORTLRY
| Q4 25 | $3.2B | $2.1B | ||
| Q3 25 | $3.1B | $2.1B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | $4.2B | ||
| Q3 24 | $2.8B | $4.3B | ||
| Q2 24 | $2.7B | $4.2B | ||
| Q1 24 | $2.6B | $4.2B |
负债/权益比FORTLRY
| 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 | $-8.5M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | — |
| 自由现金流率自由现金流/营收 | -57.5% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流FORTLRY
| Q4 25 | $-157.0M | $-8.5M | ||
| Q3 25 | $256.3M | $-1.3M | ||
| Q2 25 | $15.8M | $-12.8M | ||
| Q1 25 | $-19.8M | $-5.8M | ||
| Q4 24 | $-450.0M | $-40.7M | ||
| Q3 24 | $119.2M | $-35.3M | ||
| Q2 24 | $-61.7M | $30.7M | ||
| Q1 24 | $-59.2M | $-15.4M |
自由现金流FORTLRY
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | — | ||
| Q2 25 | $15.0M | $-19.1M | ||
| Q1 25 | $-20.5M | $-20.2M | ||
| Q4 24 | — | $-46.2M | ||
| Q3 24 | $118.4M | $-42.0M | ||
| Q2 24 | $-62.3M | $21.0M | ||
| Q1 24 | $-59.8M | $-24.9M |
自由现金流率FORTLRY
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 3.8% | -8.5% | ||
| Q1 25 | -5.8% | -10.9% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | 21.5% | -21.0% | ||
| Q2 24 | -19.6% | 9.1% | ||
| Q1 24 | -17.9% | -13.2% |
资本支出强度FORTLRY
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | 2.8% | ||
| Q1 25 | 0.2% | 7.8% | ||
| Q4 24 | 0.0% | 2.6% | ||
| Q3 24 | 0.1% | 3.4% | ||
| Q2 24 | 0.2% | 4.2% | ||
| Q1 24 | 0.2% | 5.1% |
现金转化率FORTLRY
| 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% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
