vs
Forestar Group Inc.（FOR）与Cactus, Inc.（WHD）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Cactus, Inc.的1.0倍（$273.0M vs $261.2M），Cactus, Inc.净利率更高（15.3% vs 5.6%，领先9.6%），Forestar Group Inc.同比增速更快（9.0% vs -4.0%），过去两年Cactus, Inc.的营收复合增速更高（-2.4% 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。
Cactus, Inc.旗下拥有Cactus Club Cafe，是源自加拿大不列颠哥伦比亚省北温哥华的高端休闲连锁餐饮品牌。目前品牌已在加拿大全境布局34家门店，覆盖不列颠哥伦比亚、阿尔伯塔、萨斯喀彻温、安大略等省份，同时在美国也设有门店，主打高品质休闲餐饮体验。
FOR vs WHD — 直观对比
营收规模更大
FOR
是对方的1.0倍
$261.2M
营收增速更快
FOR
高出13.0%
-4.0%
净利率更高
WHD
高出9.6%
5.6%
两年增速更快
WHD
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $261.2M |
| 净利润 | $15.4M | $39.8M |
| 毛利率 | 20.1% | 36.2% |
| 营业利润率 | 7.6% | 22.9% |
| 净利率 | 5.6% | 15.3% |
| 营收同比 | 9.0% | -4.0% |
| 净利润同比 | -6.7% | -14.7% |
| 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FORWHD
| Q4 25 | $273.0M | $261.2M | ||
| Q3 25 | $670.5M | $264.0M | ||
| Q2 25 | $390.5M | $273.6M | ||
| Q1 25 | $351.0M | $280.3M | ||
| Q4 24 | $250.4M | $272.1M | ||
| Q3 24 | $551.3M | $293.2M | ||
| Q2 24 | $318.4M | $290.4M | ||
| Q1 24 | $333.8M | $274.1M |
净利润FORWHD
| Q4 25 | $15.4M | $39.8M | ||
| Q3 25 | $86.9M | $41.6M | ||
| Q2 25 | $32.9M | $40.3M | ||
| Q1 25 | $31.6M | $44.2M | ||
| Q4 24 | $16.5M | $46.7M | ||
| Q3 24 | $81.5M | $49.9M | ||
| Q2 24 | $38.7M | $49.8M | ||
| Q1 24 | $45.0M | $39.0M |
毛利率FORWHD
| Q4 25 | 20.1% | 36.2% | ||
| Q3 25 | 22.3% | 36.8% | ||
| Q2 25 | 20.4% | 36.6% | ||
| Q1 25 | 22.6% | 38.4% | ||
| Q4 24 | 22.0% | 37.8% | ||
| Q3 24 | 23.9% | 39.0% | ||
| Q2 24 | 22.5% | 39.2% | ||
| Q1 24 | 24.9% | 38.4% |
营业利润率FORWHD
| Q4 25 | 7.6% | 22.9% | ||
| Q3 25 | 16.9% | 23.2% | ||
| Q2 25 | 11.2% | 22.2% | ||
| Q1 25 | 11.6% | 24.5% | ||
| Q4 24 | 8.7% | 25.9% | ||
| Q3 24 | 19.7% | 26.2% | ||
| Q2 24 | 16.2% | 27.5% | ||
| Q1 24 | 17.6% | 22.8% |
净利率FORWHD
| Q4 25 | 5.6% | 15.3% | ||
| Q3 25 | 13.0% | 15.8% | ||
| Q2 25 | 8.4% | 14.7% | ||
| Q1 25 | 9.0% | 15.8% | ||
| Q4 24 | 6.6% | 17.2% | ||
| Q3 24 | 14.8% | 17.0% | ||
| Q2 24 | 12.2% | 17.2% | ||
| Q1 24 | 13.5% | 14.2% |
每股收益（稀释后）FORWHD
| 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 | $123.6M |
| 总债务越低越好 | $793.2M | $0 |
| 股东权益账面价值 | $1.8B | $1.2B |
| 总资产 | $3.2B | $1.9B |
| 负债/权益比越低杠杆越低 | 0.44× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FORWHD
| Q4 25 | $211.7M | $123.6M | ||
| Q3 25 | $379.2M | $445.6M | ||
| Q2 25 | $189.2M | $405.2M | ||
| Q1 25 | $174.3M | $347.7M | ||
| Q4 24 | $132.0M | $342.8M | ||
| Q3 24 | $481.2M | $303.4M | ||
| Q2 24 | $359.2M | $246.5M | ||
| Q1 24 | $416.2M | $194.3M |
总债务FORWHD
| Q4 25 | $793.2M | $0 | ||
| Q3 25 | $802.7M | $0 | ||
| Q2 25 | $872.8M | $0 | ||
| Q1 25 | $872.5M | $0 | ||
| Q4 24 | $806.8M | $0 | ||
| Q3 24 | $706.4M | $0 | ||
| Q2 24 | $706.1M | $0 | ||
| Q1 24 | $705.7M | $0 |
股东权益FORWHD
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.8B | $1.2B | ||
| Q2 25 | $1.7B | $1.1B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $1.6B | $1.0B | ||
| Q2 24 | $1.5B | $954.7M | ||
| Q1 24 | $1.5B | $893.4M |
总资产FORWHD
| Q4 25 | $3.2B | $1.9B | ||
| Q3 25 | $3.1B | $1.9B | ||
| Q2 25 | $3.1B | $1.8B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $3.0B | $1.7B | ||
| Q3 24 | $2.8B | $1.7B | ||
| Q2 24 | $2.7B | $1.6B | ||
| Q1 24 | $2.6B | $1.6B |
负债/权益比FORWHD
| Q4 25 | 0.44× | 0.00× | ||
| Q3 25 | 0.45× | 0.00× | ||
| Q2 25 | 0.52× | 0.00× | ||
| Q1 25 | 0.53× | 0.00× | ||
| Q4 24 | 0.50× | 0.00× | ||
| Q3 24 | 0.44× | 0.00× | ||
| Q2 24 | 0.47× | 0.00× | ||
| Q1 24 | 0.48× | 0.00× |
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 | $72.3M |
| 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× | 1.81× |
| 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FORWHD
| Q4 25 | $-157.0M | $72.3M | ||
| Q3 25 | $256.3M | $61.8M | ||
| Q2 25 | $15.8M | $82.8M | ||
| Q1 25 | $-19.8M | $41.5M | ||
| Q4 24 | $-450.0M | $66.6M | ||
| Q3 24 | $119.2M | $85.3M | ||
| Q2 24 | $-61.7M | $78.0M | ||
| Q1 24 | $-59.2M | $86.3M |
自由现金流FORWHD
| 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 | — | ||
| Q1 24 | $-59.8M | — |
自由现金流率FORWHD
| 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% | — | ||
| Q1 24 | -17.9% | — |
资本支出强度FORWHD
| 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% | — | ||
| Q1 24 | 0.2% | — |
现金转化率FORWHD
| Q4 25 | -10.19× | 1.81× | ||
| Q3 25 | 2.95× | 1.48× | ||
| Q2 25 | 0.48× | 2.05× | ||
| Q1 25 | -0.63× | 0.94× | ||
| Q4 24 | -27.27× | 1.43× | ||
| Q3 24 | 1.46× | 1.71× | ||
| Q2 24 | -1.59× | 1.56× | ||
| Q1 24 | -1.32× | 2.21× |
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% |
WHD
| Products | $201.4M | 77% |
| Other | $40.8M | 16% |
| Rental Revenue | $19.0M | 7% |
