vs
Forestar Group Inc.（FOR）与VORNADO REALTY TRUST（VNO）财务数据对比。点击上方公司名可切换其他公司
VORNADO REALTY TRUST的季度营收约是Forestar Group Inc.的1.7倍（$459.1M vs $273.0M），Forestar Group Inc.净利率更高（5.6% vs -5.0%，领先10.6%），Forestar Group Inc.同比增速更快（9.0% vs -0.5%），过去两年VORNADO REALTY TRUST的营收复合增速更高（1.0% 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。
Vornado Realty Trust是1982年于美国马里兰州注册成立的房地产投资信托，总部设立在纽约市，核心业务为投资曼哈顿核心区域的优质写字楼及临街零售商业地产，是纽约当地颇具影响力的商业地产投资运营机构。
FOR vs VNO — 直观对比
营收规模更大
VNO
是对方的1.7倍
$273.0M
营收增速更快
FOR
高出9.6%
-0.5%
净利率更高
FOR
高出10.6%
-5.0%
两年增速更快
VNO
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $459.1M |
| 净利润 | $15.4M | $-22.8M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | — |
| 净利率 | 5.6% | -5.0% |
| 营收同比 | 9.0% | -0.5% |
| 净利润同比 | -6.7% | 689.3% |
| 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FORVNO
| Q1 26 | — | $459.1M | ||
| Q4 25 | $273.0M | $453.7M | ||
| Q3 25 | $670.5M | $453.7M | ||
| Q2 25 | $390.5M | $441.4M | ||
| Q1 25 | $351.0M | $461.6M | ||
| Q4 24 | $250.4M | $457.8M | ||
| Q3 24 | $551.3M | $443.3M | ||
| Q2 24 | $318.4M | $450.3M |
净利润FORVNO
| Q1 26 | — | $-22.8M | ||
| Q4 25 | $15.4M | $4.9M | ||
| Q3 25 | $86.9M | $27.1M | ||
| Q2 25 | $32.9M | $759.3M | ||
| Q1 25 | $31.6M | $102.4M | ||
| Q4 24 | $16.5M | $5.8M | ||
| Q3 24 | $81.5M | $-3.6M | ||
| Q2 24 | $38.7M | $50.8M |
毛利率FORVNO
| Q1 26 | — | — | ||
| 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% | — |
营业利润率FORVNO
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 2.8% | ||
| Q3 25 | 16.9% | 3.0% | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 11.6% | 23.2% | ||
| Q4 24 | 8.7% | 2.5% | ||
| Q3 24 | 19.7% | -3.3% | ||
| Q2 24 | 16.2% | 10.1% |
净利率FORVNO
| Q1 26 | — | -5.0% | ||
| Q4 25 | 5.6% | 1.1% | ||
| Q3 25 | 13.0% | 6.0% | ||
| Q2 25 | 8.4% | 172.0% | ||
| Q1 25 | 9.0% | 22.2% | ||
| Q4 24 | 6.6% | 1.3% | ||
| Q3 24 | 14.8% | -0.8% | ||
| Q2 24 | 12.2% | 11.3% |
每股收益（稀释后）FORVNO
| Q1 26 | — | — | ||
| Q4 25 | $0.30 | $0.01 | ||
| Q3 25 | $1.70 | $0.06 | ||
| Q2 25 | $0.65 | $3.70 | ||
| Q1 25 | $0.62 | $0.43 | ||
| Q4 24 | $0.32 | $0.01 | ||
| Q3 24 | $1.59 | $-0.10 | ||
| Q2 24 | $0.76 | $0.18 |
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 | $1.1B |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $6.0B |
| 总资产 | $3.2B | $15.9B |
| 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FORVNO
| Q1 26 | — | $1.1B | ||
| Q4 25 | $211.7M | $840.9M | ||
| Q3 25 | $379.2M | $1.0B | ||
| Q2 25 | $189.2M | $1.2B | ||
| Q1 25 | $174.3M | $568.9M | ||
| Q4 24 | $132.0M | $733.9M | ||
| Q3 24 | $481.2M | $783.6M | ||
| Q2 24 | $359.2M | $872.6M |
总债务FORVNO
| Q1 26 | — | — | ||
| Q4 25 | $793.2M | $2.3B | ||
| Q3 25 | $802.7M | $2.3B | ||
| Q2 25 | $872.8M | $2.1B | ||
| Q1 25 | $872.5M | $2.1B | ||
| Q4 24 | $806.8M | $2.6B | ||
| Q3 24 | $706.4M | $2.6B | ||
| Q2 24 | $706.1M | $2.6B |
股东权益FORVNO
| Q1 26 | — | $6.0B | ||
| Q4 25 | $1.8B | $6.0B | ||
| Q3 25 | $1.8B | $6.1B | ||
| Q2 25 | $1.7B | $6.1B | ||
| Q1 25 | $1.6B | $5.3B | ||
| Q4 24 | $1.6B | $5.2B | ||
| Q3 24 | $1.6B | $5.3B | ||
| Q2 24 | $1.5B | $5.6B |
总资产FORVNO
| Q1 26 | — | $15.9B | ||
| Q4 25 | $3.2B | $15.5B | ||
| Q3 25 | $3.1B | $15.7B | ||
| Q2 25 | $3.1B | $15.6B | ||
| Q1 25 | $3.0B | $15.6B | ||
| Q4 24 | $3.0B | $16.0B | ||
| Q3 24 | $2.8B | $16.1B | ||
| Q2 24 | $2.7B | $16.2B |
负债/权益比FORVNO
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | 0.38× | ||
| Q3 25 | 0.45× | 0.37× | ||
| Q2 25 | 0.52× | 0.35× | ||
| Q1 25 | 0.53× | 0.40× | ||
| Q4 24 | 0.50× | 0.50× | ||
| Q3 24 | 0.44× | 0.49× | ||
| Q2 24 | 0.47× | 0.46× |
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 | — |
| 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% | 3.7% |
| 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FORVNO
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | $1.3B | ||
| Q3 25 | $256.3M | $33.2M | ||
| Q2 25 | $15.8M | $1.0B | ||
| Q1 25 | $-19.8M | $52.0M | ||
| Q4 24 | $-450.0M | $537.7M | ||
| Q3 24 | $119.2M | $105.4M | ||
| Q2 24 | $-61.7M | $194.7M |
自由现金流FORVNO
| Q1 26 | — | — | ||
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | — | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $-20.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $-62.3M | — |
自由现金流率FORVNO
| Q1 26 | — | — | ||
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | -19.6% | — |
资本支出强度FORVNO
| Q1 26 | — | 3.7% | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — |
现金转化率FORVNO
| Q1 26 | — | — | ||
| Q4 25 | -10.19× | 256.08× | ||
| Q3 25 | 2.95× | 1.22× | ||
| Q2 25 | 0.48× | 1.35× | ||
| Q1 25 | -0.63× | 0.51× | ||
| Q4 24 | -27.27× | 93.39× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | 3.83× |
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% |
VNO
暂无分部数据
