vs
Forestar Group Inc.（FOR）与猫途鹰（TRIP）财务数据对比。点击上方公司名可切换其他公司
猫途鹰的季度营收约是Forestar Group Inc.的1.5倍（$411.0M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -9.2%，领先14.9%），Forestar Group Inc.同比增速更快（9.0% vs 0.0%），猫途鹰自由现金流更多（$-122.0M vs $-157.1M），过去两年猫途鹰的营收复合增速更高（2.0% 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。
TripAdvisor是美国知名在线旅游服务企业，旗下运营在线旅行社平台、旅游产品比价网站及移动应用，平台拥有大量用户生成的真实旅行内容，为全球消费者提供出行规划、预订等多元服务。
FOR vs TRIP — 直观对比
营收规模更大
TRIP
是对方的1.5倍
$273.0M
营收增速更快
FOR
高出9.0%
0.0%
净利率更高
FOR
高出14.9%
-9.2%
自由现金流更多
TRIP
多$35.1M
$-157.1M
两年增速更快
TRIP
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $411.0M |
| 净利润 | $15.4M | $-38.0M |
| 毛利率 | 20.1% | 91.5% |
| 营业利润率 | 7.6% | -8.3% |
| 净利率 | 5.6% | -9.2% |
| 营收同比 | 9.0% | 0.0% |
| 净利润同比 | -6.7% | -3900.0% |
| 每股收益（稀释后） | $0.30 | $-0.32 |
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FORTRIP
| Q4 25 | $273.0M | $411.0M | ||
| Q3 25 | $670.5M | $553.0M | ||
| Q2 25 | $390.5M | $529.0M | ||
| Q1 25 | $351.0M | $398.0M | ||
| Q4 24 | $250.4M | $411.0M | ||
| Q3 24 | $551.3M | $532.0M | ||
| Q2 24 | $318.4M | $497.0M | ||
| Q1 24 | $333.8M | $395.0M |
净利润FORTRIP
| Q4 25 | $15.4M | $-38.0M | ||
| Q3 25 | $86.9M | $53.0M | ||
| Q2 25 | $32.9M | $36.0M | ||
| Q1 25 | $31.6M | $-11.0M | ||
| Q4 24 | $16.5M | $1.0M | ||
| Q3 24 | $81.5M | $39.0M | ||
| Q2 24 | $38.7M | $24.0M | ||
| Q1 24 | $45.0M | $-59.0M |
毛利率FORTRIP
| Q4 25 | 20.1% | 91.5% | ||
| Q3 25 | 22.3% | 92.6% | ||
| Q2 25 | 20.4% | 92.1% | ||
| Q1 25 | 22.6% | 93.2% | ||
| Q4 24 | 22.0% | 93.4% | ||
| Q3 24 | 23.9% | 92.5% | ||
| Q2 24 | 22.5% | 92.8% | ||
| Q1 24 | 24.9% | 93.7% |
营业利润率FORTRIP
| Q4 25 | 7.6% | -8.3% | ||
| Q3 25 | 16.9% | 12.7% | ||
| Q2 25 | 11.2% | 11.2% | ||
| Q1 25 | 11.6% | -3.8% | ||
| Q4 24 | 8.7% | 0.2% | ||
| Q3 24 | 19.7% | 13.2% | ||
| Q2 24 | 16.2% | 7.2% | ||
| Q1 24 | 17.6% | -3.8% |
净利率FORTRIP
| Q4 25 | 5.6% | -9.2% | ||
| Q3 25 | 13.0% | 9.6% | ||
| Q2 25 | 8.4% | 6.8% | ||
| Q1 25 | 9.0% | -2.8% | ||
| Q4 24 | 6.6% | 0.2% | ||
| Q3 24 | 14.8% | 7.3% | ||
| Q2 24 | 12.2% | 4.8% | ||
| Q1 24 | 13.5% | -14.9% |
每股收益（稀释后）FORTRIP
| Q4 25 | $0.30 | $-0.32 | ||
| Q3 25 | $1.70 | $0.43 | ||
| Q2 25 | $0.65 | $0.28 | ||
| Q1 25 | $0.62 | $-0.08 | ||
| Q4 24 | $0.32 | $0.03 | ||
| Q3 24 | $1.59 | $0.27 | ||
| Q2 24 | $0.76 | $0.17 | ||
| Q1 24 | $0.89 | $-0.43 |
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 | $1.0B |
| 总债务越低越好 | $793.2M | $819.0M |
| 股东权益账面价值 | $1.8B | $645.0M |
| 总资产 | $3.2B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.44× | 1.27× |
8季度趋势，按日历期对齐
现金及短期投资FORTRIP
| Q4 25 | $211.7M | $1.0B | ||
| Q3 25 | $379.2M | $1.2B | ||
| Q2 25 | $189.2M | $1.2B | ||
| Q1 25 | $174.3M | $1.2B | ||
| Q4 24 | $132.0M | $1.1B | ||
| Q3 24 | $481.2M | $1.1B | ||
| Q2 24 | $359.2M | $1.2B | ||
| Q1 24 | $416.2M | $1.2B |
总债务FORTRIP
| Q4 25 | $793.2M | $819.0M | ||
| Q3 25 | $802.7M | $821.0M | ||
| Q2 25 | $872.8M | $822.0M | ||
| Q1 25 | $872.5M | $1.2B | ||
| Q4 24 | $806.8M | $831.0M | ||
| Q3 24 | $706.4M | $832.0M | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
股东权益FORTRIP
| Q4 25 | $1.8B | $645.0M | ||
| Q3 25 | $1.8B | $707.0M | ||
| Q2 25 | $1.7B | $627.0M | ||
| Q1 25 | $1.6B | $643.0M | ||
| Q4 24 | $1.6B | $943.0M | ||
| Q3 24 | $1.6B | $944.0M | ||
| Q2 24 | $1.5B | $857.0M | ||
| Q1 24 | $1.5B | $825.0M |
总资产FORTRIP
| Q4 25 | $3.2B | $2.6B | ||
| Q3 25 | $3.1B | $2.8B | ||
| Q2 25 | $3.1B | $2.9B | ||
| Q1 25 | $3.0B | $2.8B | ||
| Q4 24 | $3.0B | $2.6B | ||
| Q3 24 | $2.8B | $2.7B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.6B | $2.7B |
负债/权益比FORTRIP
| Q4 25 | 0.44× | 1.27× | ||
| Q3 25 | 0.45× | 1.16× | ||
| Q2 25 | 0.52× | 1.31× | ||
| Q1 25 | 0.53× | 1.81× | ||
| Q4 24 | 0.50× | 0.88× | ||
| Q3 24 | 0.44× | 0.88× | ||
| 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 | $-103.0M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $-122.0M |
| 自由现金流率自由现金流/营收 | -57.5% | -29.7% |
| 资本支出强度资本支出/营收 | 0.0% | 4.6% |
| 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 | $163.0M |
8季度趋势，按日历期对齐
经营现金流FORTRIP
| Q4 25 | $-157.0M | $-103.0M | ||
| Q3 25 | $256.3M | $44.0M | ||
| Q2 25 | $15.8M | $202.0M | ||
| Q1 25 | $-19.8M | $102.0M | ||
| Q4 24 | $-450.0M | $-3.0M | ||
| Q3 24 | $119.2M | $-43.0M | ||
| Q2 24 | $-61.7M | $51.0M | ||
| Q1 24 | $-59.2M | $139.0M |
自由现金流FORTRIP
| Q4 25 | $-157.1M | $-122.0M | ||
| Q3 25 | $255.6M | $25.0M | ||
| Q2 25 | $15.0M | $177.0M | ||
| Q1 25 | $-20.5M | $83.0M | ||
| Q4 24 | — | $-26.0M | ||
| Q3 24 | $118.4M | $-63.0M | ||
| Q2 24 | $-62.3M | $36.0M | ||
| Q1 24 | $-59.8M | $123.0M |
自由现金流率FORTRIP
| Q4 25 | -57.5% | -29.7% | ||
| Q3 25 | 38.1% | 4.5% | ||
| Q2 25 | 3.8% | 33.5% | ||
| Q1 25 | -5.8% | 20.9% | ||
| Q4 24 | — | -6.3% | ||
| Q3 24 | 21.5% | -11.8% | ||
| Q2 24 | -19.6% | 7.2% | ||
| Q1 24 | -17.9% | 31.1% |
资本支出强度FORTRIP
| Q4 25 | 0.0% | 4.6% | ||
| Q3 25 | 0.1% | 3.4% | ||
| Q2 25 | 0.2% | 4.7% | ||
| Q1 25 | 0.2% | 4.8% | ||
| Q4 24 | 0.0% | 5.6% | ||
| Q3 24 | 0.1% | 3.8% | ||
| Q2 24 | 0.2% | 3.0% | ||
| Q1 24 | 0.2% | 4.1% |
现金转化率FORTRIP
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 0.83× | ||
| Q2 25 | 0.48× | 5.61× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | -3.00× | ||
| Q3 24 | 1.46× | -1.10× | ||
| Q2 24 | -1.59× | 2.13× | ||
| 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% |
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
