vs
Forestar Group Inc.（FOR）与VARONIS SYSTEMS INC（VRNS）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VARONIS SYSTEMS INC的1.6倍（$273.0M vs $173.1M），VARONIS SYSTEMS INC同比增速更快（26.9% vs 9.0%），VARONIS SYSTEMS INC自由现金流更多（$49.0M vs $-157.1M），过去两年VARONIS SYSTEMS INC的营收复合增速更高（15.2% 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。
Varonis Systems是总部位于美国佛罗里达州迈阿密的软件企业，在以色列赫兹利亚设有研发中心。其推出的数据安全平台可分析数据及数据活动，借此识别由访问权限、SaaS应用配置不当引发的数据暴露风险，并可触发自动化修复流程，助力企业保障数据安全。
FOR vs VRNS — 直观对比
营收规模更大
FOR
是对方的1.6倍
$173.1M
营收增速更快
VRNS
高出17.9%
9.0%
自由现金流更多
VRNS
多$206.1M
$-157.1M
两年增速更快
VRNS
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $173.1M |
| 净利润 | $15.4M | — |
| 毛利率 | 20.1% | 76.0% |
| 营业利润率 | 7.6% | -1.7% |
| 净利率 | 5.6% | — |
| 营收同比 | 9.0% | 26.9% |
| 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FORVRNS
| Q1 26 | — | $173.1M | ||
| Q4 25 | $273.0M | $173.4M | ||
| Q3 25 | $670.5M | $161.6M | ||
| Q2 25 | $390.5M | $152.2M | ||
| Q1 25 | $351.0M | $136.4M | ||
| Q4 24 | $250.4M | $158.5M | ||
| Q3 24 | $551.3M | $148.1M | ||
| Q2 24 | $318.4M | $130.3M |
净利润FORVRNS
| Q1 26 | — | — | ||
| Q4 25 | $15.4M | $-27.8M | ||
| Q3 25 | $86.9M | $-29.9M | ||
| Q2 25 | $32.9M | $-35.8M | ||
| Q1 25 | $31.6M | $-35.8M | ||
| Q4 24 | $16.5M | $-13.0M | ||
| Q3 24 | $81.5M | $-18.3M | ||
| Q2 24 | $38.7M | $-23.9M |
毛利率FORVRNS
| Q1 26 | — | 76.0% | ||
| Q4 25 | 20.1% | 78.9% | ||
| Q3 25 | 22.3% | 78.2% | ||
| Q2 25 | 20.4% | 79.5% | ||
| Q1 25 | 22.6% | 78.7% | ||
| Q4 24 | 22.0% | 83.6% | ||
| Q3 24 | 23.9% | 83.8% | ||
| Q2 24 | 22.5% | 82.8% |
营业利润率FORVRNS
| Q1 26 | — | -1.7% | ||
| Q4 25 | 7.6% | -17.5% | ||
| Q3 25 | 16.9% | -22.2% | ||
| Q2 25 | 11.2% | -24.0% | ||
| Q1 25 | 11.6% | -32.1% | ||
| Q4 24 | 8.7% | -11.1% | ||
| Q3 24 | 19.7% | -16.0% | ||
| Q2 24 | 16.2% | -22.1% |
净利率FORVRNS
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | -16.0% | ||
| Q3 25 | 13.0% | -18.5% | ||
| Q2 25 | 8.4% | -23.5% | ||
| Q1 25 | 9.0% | -26.2% | ||
| Q4 24 | 6.6% | -8.2% | ||
| Q3 24 | 14.8% | -12.4% | ||
| Q2 24 | 12.2% | -18.4% |
每股收益（稀释后）FORVRNS
| Q1 26 | — | — | ||
| Q4 25 | $0.30 | $-0.23 | ||
| Q3 25 | $1.70 | $-0.26 | ||
| Q2 25 | $0.65 | $-0.32 | ||
| Q1 25 | $0.62 | $-0.32 | ||
| Q4 24 | $0.32 | $-0.12 | ||
| Q3 24 | $1.59 | $-0.16 | ||
| Q2 24 | $0.76 | $-0.21 |
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 | $179.3M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $453.5M |
| 总资产 | $3.2B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.44× | — |
8季度趋势，按日历期对齐
现金及短期投资FORVRNS
| Q1 26 | — | $179.3M | ||
| Q4 25 | $211.7M | $883.7M | ||
| Q3 25 | $379.2M | $671.3M | ||
| Q2 25 | $189.2M | $770.9M | ||
| Q1 25 | $174.3M | $567.6M | ||
| Q4 24 | $132.0M | $529.0M | ||
| Q3 24 | $481.2M | $844.8M | ||
| Q2 24 | $359.2M | $582.5M |
总债务FORVRNS
| Q1 26 | — | — | ||
| 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 | — |
股东权益FORVRNS
| Q1 26 | — | $453.5M | ||
| Q4 25 | $1.8B | $598.7M | ||
| Q3 25 | $1.8B | $604.8M | ||
| Q2 25 | $1.7B | $341.5M | ||
| Q1 25 | $1.6B | $367.7M | ||
| Q4 24 | $1.6B | $455.7M | ||
| Q3 24 | $1.6B | $428.6M | ||
| Q2 24 | $1.5B | $458.6M |
总资产FORVRNS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.1B | $1.7B | ||
| Q2 25 | $3.1B | $1.6B | ||
| Q1 25 | $3.0B | $1.6B | ||
| Q4 24 | $3.0B | $1.7B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.1B |
负债/权益比FORVRNS
| Q1 26 | — | — | ||
| 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× | — |
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 | $55.0M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $49.0M |
| 自由现金流率自由现金流/营收 | -57.5% | 28.3% |
| 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 | $118.2M |
8季度趋势，按日历期对齐
经营现金流FORVRNS
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-157.0M | $24.7M | ||
| Q3 25 | $256.3M | $33.4M | ||
| Q2 25 | $15.8M | $21.3M | ||
| Q1 25 | $-19.8M | $68.0M | ||
| Q4 24 | $-450.0M | $24.3M | ||
| Q3 24 | $119.2M | $22.5M | ||
| Q2 24 | $-61.7M | $11.7M |
自由现金流FORVRNS
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-157.1M | $20.7M | ||
| Q3 25 | $255.6M | $30.4M | ||
| Q2 25 | $15.0M | $18.0M | ||
| Q1 25 | $-20.5M | $65.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $118.4M | $21.3M | ||
| Q2 24 | $-62.3M | $10.9M |
自由现金流率FORVRNS
| Q1 26 | — | 28.3% | ||
| Q4 25 | -57.5% | 12.0% | ||
| Q3 25 | 38.1% | 18.8% | ||
| Q2 25 | 3.8% | 11.8% | ||
| Q1 25 | -5.8% | 48.1% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | 21.5% | 14.4% | ||
| Q2 24 | -19.6% | 8.4% |
资本支出强度FORVRNS
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 2.3% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.2% | 2.2% | ||
| Q1 25 | 0.2% | 1.7% | ||
| Q4 24 | 0.0% | 2.7% | ||
| Q3 24 | 0.1% | 0.8% | ||
| Q2 24 | 0.2% | 0.6% |
现金转化率FORVRNS
| Q1 26 | — | — | ||
| 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× | — |
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% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
