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Forestar Group Inc.（FOR）与USA Compression Partners, LP（USAC）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USA Compression Partners, LP的1.1倍（$273.0M vs $252.5M），USA Compression Partners, LP净利率更高（11.0% vs 5.6%，领先5.4%），Forestar Group Inc.同比增速更快（9.0% vs 2.7%），USA Compression Partners, LP自由现金流更多（$87.7M vs $-157.1M），过去两年USA Compression Partners, LP的营收复合增速更高（4.9% 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。
USA Compression Partners, LP是一家总部位于美国的天然气压缩服务供应商，服务覆盖油气行业上游、中游及下游领域，提供定制化压缩系统、设备维护与运营支持，助力天然气生产、加工和运输环节高效运转。
FOR vs USAC — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $252.5M |
| 净利润 | $15.4M | $27.8M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 30.3% |
| 净利率 | 5.6% | 11.0% |
| 营收同比 | 9.0% | 2.7% |
| 净利润同比 | -6.7% | 9.1% |
| 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
| Q4 25 | $273.0M | $252.5M | ||
| Q3 25 | $670.5M | $250.3M | ||
| Q2 25 | $390.5M | $250.1M | ||
| Q1 25 | $351.0M | $245.2M | ||
| Q4 24 | $250.4M | $245.9M | ||
| Q3 24 | $551.3M | $240.0M | ||
| Q2 24 | $318.4M | $235.3M | ||
| Q1 24 | $333.8M | $229.3M |
| Q4 25 | $15.4M | $27.8M | ||
| Q3 25 | $86.9M | $34.5M | ||
| Q2 25 | $32.9M | $28.6M | ||
| Q1 25 | $31.6M | $20.5M | ||
| Q4 24 | $16.5M | $25.4M | ||
| Q3 24 | $81.5M | $19.3M | ||
| Q2 24 | $38.7M | $31.2M | ||
| Q1 24 | $45.0M | $23.6M |
| 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% | — |
| Q4 25 | 7.6% | 30.3% | ||
| Q3 25 | 16.9% | 33.5% | ||
| Q2 25 | 11.2% | 30.6% | ||
| Q1 25 | 11.6% | 28.3% | ||
| Q4 24 | 8.7% | 30.3% | ||
| Q3 24 | 19.7% | 31.5% | ||
| Q2 24 | 16.2% | 32.9% | ||
| Q1 24 | 17.6% | 29.2% |
| Q4 25 | 5.6% | 11.0% | ||
| Q3 25 | 13.0% | 13.8% | ||
| Q2 25 | 8.4% | 11.4% | ||
| Q1 25 | 9.0% | 8.4% | ||
| Q4 24 | 6.6% | 10.3% | ||
| Q3 24 | 14.8% | 8.1% | ||
| Q2 24 | 12.2% | 13.3% | ||
| Q1 24 | 13.5% | 10.3% |
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | — | ||
| 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 | $8.6M |
| 总债务越低越好 | $793.2M | $2.5B |
| 股东权益账面价值 | $1.8B | — |
| 总资产 | $3.2B | $2.6B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
| Q4 25 | $211.7M | $8.6M | ||
| Q3 25 | $379.2M | — | ||
| Q2 25 | $189.2M | $2.0K | ||
| Q1 25 | $174.3M | $2.0K | ||
| Q4 24 | $132.0M | $14.0K | ||
| Q3 24 | $481.2M | $79.0K | ||
| Q2 24 | $359.2M | $9.0K | ||
| Q1 24 | $416.2M | $8.0K |
| Q4 25 | $793.2M | $2.5B | ||
| Q3 25 | $802.7M | $2.5B | ||
| Q2 25 | $872.8M | $2.5B | ||
| Q1 25 | $872.5M | $2.5B | ||
| Q4 24 | $806.8M | $2.5B | ||
| Q3 24 | $706.4M | $2.5B | ||
| Q2 24 | $706.1M | $2.5B | ||
| Q1 24 | $705.7M | $2.5B |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $3.2B | $2.6B | ||
| Q3 25 | $3.1B | $2.7B | ||
| Q2 25 | $3.1B | $2.7B | ||
| Q1 25 | $3.0B | $2.7B | ||
| Q4 24 | $3.0B | $2.7B | ||
| Q3 24 | $2.8B | $2.8B | ||
| Q2 24 | $2.7B | $2.8B | ||
| Q1 24 | $2.6B | $2.8B |
| 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 | $139.5M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $87.7M |
| 自由现金流率自由现金流/营收 | -57.5% | 34.8% |
| 资本支出强度资本支出/营收 | 0.0% | 20.5% |
| 现金转化率经营现金流/净利润 | -10.19× | 5.02× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $277.0M |
8季度趋势，按日历期对齐
| Q4 25 | $-157.0M | $139.5M | ||
| Q3 25 | $256.3M | $75.9M | ||
| Q2 25 | $15.8M | $124.2M | ||
| Q1 25 | $-19.8M | $54.7M | ||
| Q4 24 | $-450.0M | $130.2M | ||
| Q3 24 | $119.2M | $48.5M | ||
| Q2 24 | $-61.7M | $96.7M | ||
| Q1 24 | $-59.2M | $65.9M |
| Q4 25 | $-157.1M | $87.7M | ||
| Q3 25 | $255.6M | $51.9M | ||
| Q2 25 | $15.0M | $101.1M | ||
| Q1 25 | $-20.5M | $36.3M | ||
| Q4 24 | — | $101.2M | ||
| Q3 24 | $118.4M | $19.8M | ||
| Q2 24 | $-62.3M | $48.2M | ||
| Q1 24 | $-59.8M | $-32.7M |
| Q4 25 | -57.5% | 34.8% | ||
| Q3 25 | 38.1% | 20.7% | ||
| Q2 25 | 3.8% | 40.4% | ||
| Q1 25 | -5.8% | 14.8% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | 21.5% | 8.2% | ||
| Q2 24 | -19.6% | 20.5% | ||
| Q1 24 | -17.9% | -14.3% |
| Q4 25 | 0.0% | 20.5% | ||
| Q3 25 | 0.1% | 9.6% | ||
| Q2 25 | 0.2% | 9.3% | ||
| Q1 25 | 0.2% | 7.5% | ||
| Q4 24 | 0.0% | 11.8% | ||
| Q3 24 | 0.1% | 12.0% | ||
| Q2 24 | 0.2% | 20.6% | ||
| Q1 24 | 0.2% | 43.0% |
| Q4 25 | -10.19× | 5.02× | ||
| Q3 25 | 2.95× | 2.20× | ||
| Q2 25 | 0.48× | 4.35× | ||
| Q1 25 | -0.63× | 2.66× | ||
| Q4 24 | -27.27× | 5.12× | ||
| Q3 24 | 1.46× | 2.51× | ||
| Q2 24 | -1.59× | 3.10× | ||
| Q1 24 | -1.32× | 2.80× |
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% |
USAC
| Revenue From Contract Operations Excluding Revenue From Related Party | $231.7M | 92% |
| Entities Affiliated With Energy Transfer LP | $16.6M | 7% |
| Transferred At Point In Time | $5.4M | 2% |
