vs
Forestar Group Inc.（FOR）与Warby Parker Inc.（WRBY）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Warby Parker Inc.的1.3倍（$273.0M vs $212.0M），Forestar Group Inc.净利率更高（5.6% vs -2.8%，领先8.4%），Warby Parker Inc.同比增速更快（11.2% vs 9.0%），Warby Parker Inc.自由现金流更多（$8.1M vs $-157.1M），过去两年Warby Parker Inc.的营收复合增速更高（2.9% 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。
Warby Parker是总部位于纽约的美国眼镜品牌零售商，主营处方眼镜、隐形眼镜及太阳镜，还提供验光服务。品牌2010年创立之初仅在线上运营，目前约三分之二的收入来自276家线下实体门店，其中271家位于美国，5家位于加拿大，品牌未来计划开设900家门店，现有消费者规模228万，客单价约263美元。
FOR vs WRBY — 直观对比
营收规模更大
FOR
是对方的1.3倍
$212.0M
营收增速更快
WRBY
高出2.2%
9.0%
净利率更高
FOR
高出8.4%
-2.8%
自由现金流更多
WRBY
多$165.2M
$-157.1M
两年增速更快
WRBY
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $212.0M |
| 净利润 | $15.4M | $-6.0M |
| 毛利率 | 20.1% | 52.4% |
| 营业利润率 | 7.6% | -3.2% |
| 净利率 | 5.6% | -2.8% |
| 营收同比 | 9.0% | 11.2% |
| 净利润同比 | -6.7% | 13.4% |
| 每股收益（稀释后） | $0.30 | $-0.06 |
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FORWRBY
| Q4 25 | $273.0M | $212.0M | ||
| Q3 25 | $670.5M | $221.7M | ||
| Q2 25 | $390.5M | $214.5M | ||
| Q1 25 | $351.0M | $223.8M | ||
| Q4 24 | $250.4M | $190.6M | ||
| Q3 24 | $551.3M | $192.4M | ||
| Q2 24 | $318.4M | $188.2M | ||
| Q1 24 | $333.8M | $200.0M |
净利润FORWRBY
| Q4 25 | $15.4M | $-6.0M | ||
| Q3 25 | $86.9M | $5.9M | ||
| Q2 25 | $32.9M | $-1.8M | ||
| Q1 25 | $31.6M | $3.5M | ||
| Q4 24 | $16.5M | $-6.9M | ||
| Q3 24 | $81.5M | $-4.1M | ||
| Q2 24 | $38.7M | $-6.8M | ||
| Q1 24 | $45.0M | $-2.7M |
毛利率FORWRBY
| Q4 25 | 20.1% | 52.4% | ||
| Q3 25 | 22.3% | 54.1% | ||
| Q2 25 | 20.4% | 53.0% | ||
| Q1 25 | 22.6% | 56.3% | ||
| Q4 24 | 22.0% | 54.1% | ||
| Q3 24 | 23.9% | 54.5% | ||
| Q2 24 | 22.5% | 56.0% | ||
| Q1 24 | 24.9% | 56.7% |
营业利润率FORWRBY
| Q4 25 | 7.6% | -3.2% | ||
| Q3 25 | 16.9% | 1.6% | ||
| Q2 25 | 11.2% | -2.1% | ||
| Q1 25 | 11.6% | 1.1% | ||
| Q4 24 | 8.7% | -4.9% | ||
| Q3 24 | 19.7% | -3.4% | ||
| Q2 24 | 16.2% | -4.8% | ||
| Q1 24 | 17.6% | -2.6% |
净利率FORWRBY
| Q4 25 | 5.6% | -2.8% | ||
| Q3 25 | 13.0% | 2.6% | ||
| Q2 25 | 8.4% | -0.8% | ||
| Q1 25 | 9.0% | 1.6% | ||
| Q4 24 | 6.6% | -3.6% | ||
| Q3 24 | 14.8% | -2.1% | ||
| Q2 24 | 12.2% | -3.6% | ||
| Q1 24 | 13.5% | -1.3% |
每股收益（稀释后）FORWRBY
| Q4 25 | $0.30 | $-0.06 | ||
| Q3 25 | $1.70 | $0.05 | ||
| Q2 25 | $0.65 | $-0.01 | ||
| Q1 25 | $0.62 | $0.03 | ||
| Q4 24 | $0.32 | $-0.06 | ||
| Q3 24 | $1.59 | $-0.03 | ||
| Q2 24 | $0.76 | $-0.06 | ||
| Q1 24 | $0.89 | $-0.02 |
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 | $286.4M |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $367.7M |
| 总资产 | $3.2B | $720.9M |
| 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FORWRBY
| Q4 25 | $211.7M | $286.4M | ||
| Q3 25 | $379.2M | $280.4M | ||
| Q2 25 | $189.2M | $286.4M | ||
| Q1 25 | $174.3M | $265.1M | ||
| Q4 24 | $132.0M | $254.2M | ||
| Q3 24 | $481.2M | $251.0M | ||
| Q2 24 | $359.2M | $238.0M | ||
| Q1 24 | $416.2M | $220.4M |
总债务FORWRBY
| 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 | — | ||
| Q1 24 | $705.7M | — |
股东权益FORWRBY
| Q4 25 | $1.8B | $367.7M | ||
| Q3 25 | $1.8B | $369.6M | ||
| Q2 25 | $1.7B | $361.5M | ||
| Q1 25 | $1.6B | $354.1M | ||
| Q4 24 | $1.6B | $340.1M | ||
| Q3 24 | $1.6B | $336.8M | ||
| Q2 24 | $1.5B | $329.4M | ||
| Q1 24 | $1.5B | $316.2M |
总资产FORWRBY
| Q4 25 | $3.2B | $720.9M | ||
| Q3 25 | $3.1B | $706.9M | ||
| Q2 25 | $3.1B | $701.9M | ||
| Q1 25 | $3.0B | $682.8M | ||
| Q4 24 | $3.0B | $676.5M | ||
| Q3 24 | $2.8B | $638.0M | ||
| Q2 24 | $2.7B | $618.2M | ||
| Q1 24 | $2.6B | $592.9M |
负债/权益比FORWRBY
| 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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $8.1M |
| 自由现金流率自由现金流/营收 | -57.5% | 3.8% |
| 资本支出强度资本支出/营收 | 0.0% | 7.1% |
| 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 | $43.7M |
8季度趋势，按日历期对齐
经营现金流FORWRBY
| Q4 25 | $-157.0M | $23.3M | ||
| Q3 25 | $256.3M | $18.0M | ||
| Q2 25 | $15.8M | $40.2M | ||
| Q1 25 | $-19.8M | $29.4M | ||
| Q4 24 | $-450.0M | $19.9M | ||
| Q3 24 | $119.2M | $27.3M | ||
| Q2 24 | $-61.7M | $31.6M | ||
| Q1 24 | $-59.2M | $19.9M |
自由现金流FORWRBY
| Q4 25 | $-157.1M | $8.1M | ||
| Q3 25 | $255.6M | $-1.5M | ||
| Q2 25 | $15.0M | $23.9M | ||
| Q1 25 | $-20.5M | $13.2M | ||
| Q4 24 | — | $2.2M | ||
| Q3 24 | $118.4M | $13.1M | ||
| Q2 24 | $-62.3M | $14.0M | ||
| Q1 24 | $-59.8M | $5.5M |
自由现金流率FORWRBY
| Q4 25 | -57.5% | 3.8% | ||
| Q3 25 | 38.1% | -0.7% | ||
| Q2 25 | 3.8% | 11.1% | ||
| Q1 25 | -5.8% | 5.9% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 21.5% | 6.8% | ||
| Q2 24 | -19.6% | 7.4% | ||
| Q1 24 | -17.9% | 2.7% |
资本支出强度FORWRBY
| Q4 25 | 0.0% | 7.1% | ||
| Q3 25 | 0.1% | 8.8% | ||
| Q2 25 | 0.2% | 7.6% | ||
| Q1 25 | 0.2% | 7.2% | ||
| Q4 24 | 0.0% | 9.3% | ||
| Q3 24 | 0.1% | 7.4% | ||
| Q2 24 | 0.2% | 9.4% | ||
| Q1 24 | 0.2% | 7.2% |
现金转化率FORWRBY
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 3.06× | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | 8.46× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| 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% |
WRBY
| Retail | $155.2M | 73% |
| E Commerce | $56.8M | 27% |
