vs
Forestar Group Inc.（FOR）与WisdomTree, Inc.（WT）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WisdomTree, Inc.的1.9倍（$273.0M vs $147.4M），WisdomTree, Inc.净利率更高（27.1% vs 5.6%，领先21.5%），WisdomTree, Inc.同比增速更快（33.2% vs 9.0%），WisdomTree, Inc.自由现金流更多（$147.7M vs $-157.1M），过去两年WisdomTree, Inc.的营收复合增速更高（23.4% 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。
WisdomTree, Inc.是总部位于纽约的全球ETF（交易型开放式指数基金）及交易所交易产品发行方与资产管理机构，2006年6月推出首批ETF产品，目前是美国主流ETF供应商之一。其发行的ETF覆盖全球不同资产类别与地区市场，产品线涵盖美国及国际股票、货币、固定收益及另类投资等品类。
FOR vs WT — 直观对比
营收规模更大
FOR
是对方的1.9倍
$147.4M
营收增速更快
WT
高出24.2%
9.0%
净利率更高
WT
高出21.5%
5.6%
自由现金流更多
WT
多$304.8M
$-157.1M
两年增速更快
WT
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $273.0M | $147.4M |
| 净利润 | $15.4M | $40.0M |
| 毛利率 | 20.1% | — |
| 营业利润率 | 7.6% | 40.5% |
| 净利率 | 5.6% | 27.1% |
| 营收同比 | 9.0% | 33.2% |
| 净利润同比 | -6.7% | 46.6% |
| 每股收益（稀释后） | $0.30 | $0.28 |
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FORWT
| Q4 25 | $273.0M | $147.4M | ||
| Q3 25 | $670.5M | $125.6M | ||
| Q2 25 | $390.5M | $112.6M | ||
| Q1 25 | $351.0M | $108.1M | ||
| Q4 24 | $250.4M | $110.7M | ||
| Q3 24 | $551.3M | $113.2M | ||
| Q2 24 | $318.4M | $107.0M | ||
| Q1 24 | $333.8M | $96.8M |
净利润FORWT
| Q4 25 | $15.4M | $40.0M | ||
| Q3 25 | $86.9M | $19.7M | ||
| Q2 25 | $32.9M | $24.8M | ||
| Q1 25 | $31.6M | $24.6M | ||
| Q4 24 | $16.5M | $27.3M | ||
| Q3 24 | $81.5M | $-4.5M | ||
| Q2 24 | $38.7M | $21.8M | ||
| Q1 24 | $45.0M | $22.1M |
毛利率FORWT
| 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% | — |
营业利润率FORWT
| Q4 25 | 7.6% | 40.5% | ||
| Q3 25 | 16.9% | 36.3% | ||
| Q2 25 | 11.2% | 30.8% | ||
| Q1 25 | 11.6% | 31.6% | ||
| Q4 24 | 8.7% | 31.7% | ||
| Q3 24 | 19.7% | 36.0% | ||
| Q2 24 | 16.2% | 31.3% | ||
| Q1 24 | 17.6% | 28.9% |
净利率FORWT
| Q4 25 | 5.6% | 27.1% | ||
| Q3 25 | 13.0% | 15.7% | ||
| Q2 25 | 8.4% | 22.0% | ||
| Q1 25 | 9.0% | 22.8% | ||
| Q4 24 | 6.6% | 24.7% | ||
| Q3 24 | 14.8% | -4.0% | ||
| Q2 24 | 12.2% | 20.3% | ||
| Q1 24 | 13.5% | 22.8% |
每股收益（稀释后）FORWT
| Q4 25 | $0.30 | $0.28 | ||
| Q3 25 | $1.70 | $0.13 | ||
| Q2 25 | $0.65 | $0.17 | ||
| Q1 25 | $0.62 | $0.17 | ||
| Q4 24 | $0.32 | $0.20 | ||
| Q3 24 | $1.59 | $-0.13 | ||
| Q2 24 | $0.76 | $0.13 | ||
| Q1 24 | $0.89 | $0.13 |
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 | — |
| 总债务越低越好 | $793.2M | — |
| 股东权益账面价值 | $1.8B | $413.7M |
| 总资产 | $3.2B | $1.5B |
| 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FORWT
| Q4 25 | $211.7M | — | ||
| Q3 25 | $379.2M | — | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $174.3M | — | ||
| Q4 24 | $132.0M | — | ||
| Q3 24 | $481.2M | — | ||
| Q2 24 | $359.2M | $132.5M | ||
| Q1 24 | $416.2M | $116.9M |
总债务FORWT
| 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FORWT
| Q4 25 | $1.8B | $413.7M | ||
| Q3 25 | $1.8B | $373.4M | ||
| Q2 25 | $1.7B | $445.1M | ||
| Q1 25 | $1.6B | $415.6M | ||
| Q4 24 | $1.6B | $400.0M | ||
| Q3 24 | $1.6B | $374.9M | ||
| Q2 24 | $1.5B | $445.6M | ||
| Q1 24 | $1.5B | $423.2M |
总资产FORWT
| Q4 25 | $3.2B | $1.5B | ||
| Q3 25 | $3.1B | $1.4B | ||
| Q2 25 | $3.1B | $1.1B | ||
| Q1 25 | $3.0B | $1.0B | ||
| Q4 24 | $3.0B | $1.0B | ||
| Q3 24 | $2.8B | $1.0B | ||
| Q2 24 | $2.7B | $964.1M | ||
| Q1 24 | $2.6B | $931.7M |
负债/权益比FORWT
| 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 | $147.9M |
| 自由现金流经营现金流 - 资本支出 | $-157.1M | $147.7M |
| 自由现金流率自由现金流/营收 | -57.5% | 100.2% |
| 资本支出强度资本支出/营收 | 0.0% | 0.1% |
| 现金转化率经营现金流/净利润 | -10.19× | 3.70× |
| 过去12个月自由现金流最近4个季度 | $93.0M | $240.8M |
8季度趋势，按日历期对齐
经营现金流FORWT
| Q4 25 | $-157.0M | $147.9M | ||
| Q3 25 | $256.3M | $48.1M | ||
| Q2 25 | $15.8M | $38.8M | ||
| Q1 25 | $-19.8M | $6.4M | ||
| Q4 24 | $-450.0M | $113.5M | ||
| Q3 24 | $119.2M | $47.7M | ||
| Q2 24 | $-61.7M | $32.2M | ||
| Q1 24 | $-59.2M | $-1.0M |
自由现金流FORWT
| Q4 25 | $-157.1M | $147.7M | ||
| Q3 25 | $255.6M | $48.0M | ||
| Q2 25 | $15.0M | $38.7M | ||
| Q1 25 | $-20.5M | $6.3M | ||
| Q4 24 | — | $113.3M | ||
| Q3 24 | $118.4M | $47.7M | ||
| Q2 24 | $-62.3M | $32.2M | ||
| Q1 24 | $-59.8M | $-1.1M |
自由现金流率FORWT
| Q4 25 | -57.5% | 100.2% | ||
| Q3 25 | 38.1% | 38.2% | ||
| Q2 25 | 3.8% | 34.4% | ||
| Q1 25 | -5.8% | 5.9% | ||
| Q4 24 | — | 102.4% | ||
| Q3 24 | 21.5% | 42.1% | ||
| Q2 24 | -19.6% | 30.1% | ||
| Q1 24 | -17.9% | -1.1% |
资本支出强度FORWT
| Q4 25 | 0.0% | 0.1% | ||
| Q3 25 | 0.1% | 0.0% | ||
| Q2 25 | 0.2% | 0.1% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.2% | 0.0% | ||
| Q1 24 | 0.2% | 0.1% |
现金转化率FORWT
| Q4 25 | -10.19× | 3.70× | ||
| Q3 25 | 2.95× | 2.44× | ||
| Q2 25 | 0.48× | 1.57× | ||
| Q1 25 | -0.63× | 0.26× | ||
| Q4 24 | -27.27× | 4.15× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | 1.48× | ||
| Q1 24 | -1.32× | -0.05× |
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% |
WT
| Investment Advisory Management And Administrative Service | $122.7M | 83% |
| Other Services Income | $12.7M | 9% |
| IE | $11.5M | 8% |
