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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FEDERAL AGRICULTURAL MORTGAGE CORP is the larger business by last-quarter revenue ($107.5M vs $101.1M, roughly 1.1× FORRESTER RESEARCH, INC.). On growth, FEDERAL AGRICULTURAL MORTGAGE CORP posted the faster year-over-year revenue change (6.1% vs -6.5%). Over the past eight quarters, FEDERAL AGRICULTURAL MORTGAGE CORP's revenue compounded faster (7.1% CAGR vs 0.5%).
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
AGM vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $101.1M |
| Net Profit | — | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | 56.3% | -36.6% |
| Net Margin | — | -33.5% |
| Revenue YoY | 6.1% | -6.5% |
| Net Profit YoY | — | -7941.4% |
| EPS (diluted) | $3.69 | $-1.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $107.5M | $101.1M | ||
| Q3 25 | $104.0M | $94.3M | ||
| Q2 25 | $102.6M | $111.7M | ||
| Q1 25 | $94.3M | $89.9M | ||
| Q4 24 | $101.3M | $108.0M | ||
| Q3 24 | $90.3M | $102.5M | ||
| Q2 24 | $89.9M | $121.8M | ||
| Q1 24 | $93.7M | $100.1M |
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $55.0M | $-2.1M | ||
| Q2 25 | $54.8M | $3.9M | ||
| Q1 25 | $49.7M | $-87.3M | ||
| Q4 24 | $56.5M | $432.0K | ||
| Q3 24 | $49.8M | $-5.8M | ||
| Q2 24 | $47.1M | $6.3M | ||
| Q1 24 | $53.7M | $-6.7M |
| Q4 25 | — | 56.7% | ||
| Q3 25 | — | 60.0% | ||
| Q2 25 | — | 55.5% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | — | 58.8% | ||
| Q3 24 | — | 60.5% | ||
| Q2 24 | — | 57.3% | ||
| Q1 24 | — | 54.9% |
| Q4 25 | 56.3% | -36.6% | ||
| Q3 25 | 64.1% | 4.7% | ||
| Q2 25 | 63.8% | 6.2% | ||
| Q1 25 | 66.9% | -97.5% | ||
| Q4 24 | 67.5% | -0.5% | ||
| Q3 24 | 69.0% | -0.7% | ||
| Q2 24 | 65.9% | 9.3% | ||
| Q1 24 | 72.8% | -9.3% |
| Q4 25 | — | -33.5% | ||
| Q3 25 | 52.9% | -2.3% | ||
| Q2 25 | 53.4% | 3.5% | ||
| Q1 25 | 52.6% | -97.1% | ||
| Q4 24 | 55.8% | 0.4% | ||
| Q3 24 | 55.2% | -5.7% | ||
| Q2 24 | 52.4% | 5.2% | ||
| Q1 24 | 57.4% | -6.7% |
| Q4 25 | $3.69 | $-1.75 | ||
| Q3 25 | $4.44 | $-0.11 | ||
| Q2 25 | $4.48 | $0.20 | ||
| Q1 25 | $4.01 | $-4.62 | ||
| Q4 24 | $4.62 | $0.02 | ||
| Q3 24 | $3.86 | $-0.30 | ||
| Q2 24 | $3.68 | $0.33 | ||
| Q1 24 | $4.28 | $-0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $63.3M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $126.5M |
| Total Assets | $35.4B | $404.0M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.3M | ||
| Q3 25 | — | $65.1M | ||
| Q2 25 | — | $67.8M | ||
| Q1 25 | — | $75.6M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | $842.1M | $62.8M | ||
| Q2 24 | $923.0M | $58.9M | ||
| Q1 24 | $745.1M | $61.4M |
| Q4 25 | $30.8B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $28.9B | — | ||
| Q1 25 | $28.0B | — | ||
| Q4 24 | $27.5B | — | ||
| Q3 24 | $27.2B | — | ||
| Q2 24 | $26.8B | — | ||
| Q1 24 | $26.8B | — |
| Q4 25 | $1.7B | $126.5M | ||
| Q3 25 | $1.7B | $157.7M | ||
| Q2 25 | $1.5B | $159.5M | ||
| Q1 25 | $1.5B | $147.4M | ||
| Q4 24 | $1.5B | $229.5M | ||
| Q3 24 | $1.5B | $234.3M | ||
| Q2 24 | $1.5B | $237.1M | ||
| Q1 24 | $1.5B | $230.9M |
| Q4 25 | $35.4B | $404.0M | ||
| Q3 25 | $33.4B | $414.2M | ||
| Q2 25 | $33.0B | $436.0M | ||
| Q1 25 | $31.8B | $439.8M | ||
| Q4 24 | $31.3B | $503.9M | ||
| Q3 24 | $30.6B | $505.3M | ||
| Q2 24 | $30.2B | $524.2M | ||
| Q1 24 | $29.8B | $555.7M |
| Q4 25 | 17.93× | — | ||
| Q3 25 | 17.31× | — | ||
| Q2 25 | 18.70× | — | ||
| Q1 25 | 18.39× | — | ||
| Q4 24 | 18.48× | — | ||
| Q3 24 | 18.60× | — | ||
| Q2 24 | 17.87× | — | ||
| Q1 24 | 18.11× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.1M | $-3.2M |
| Free Cash FlowOCF − Capex | — | $-4.3M |
| FCF MarginFCF / Revenue | — | -4.2% |
| Capex IntensityCapex / Revenue | 0.0% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.1M | $-3.2M | ||
| Q3 25 | $74.2M | $1.2M | ||
| Q2 25 | $-47.7M | $-3.6M | ||
| Q1 25 | $-49.8M | $26.7M | ||
| Q4 24 | $612.6M | $-1.8M | ||
| Q3 24 | $-44.4M | $264.0K | ||
| Q2 24 | $56.1M | $-2.9M | ||
| Q1 24 | $233.3M | $611.0K |
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $524.0K | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $26.1M | ||
| Q4 24 | $607.4M | $-2.5M | ||
| Q3 24 | $-44.4M | $-223.0K | ||
| Q2 24 | $52.6M | $-3.7M | ||
| Q1 24 | $231.7M | $-815.0K |
| Q4 25 | — | -4.2% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | -3.8% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | 599.8% | -2.3% | ||
| Q3 24 | -49.2% | -0.2% | ||
| Q2 24 | 58.5% | -3.1% | ||
| Q1 24 | 247.3% | -0.8% |
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | 0.7% | ||
| Q4 24 | 5.2% | 0.6% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 4.0% | 0.7% | ||
| Q1 24 | 1.7% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | -0.87× | -0.93× | ||
| Q1 25 | -1.00× | — | ||
| Q4 24 | 10.84× | -4.24× | ||
| Q3 24 | -0.89× | — | ||
| Q2 24 | 1.19× | -0.46× | ||
| Q1 24 | 4.34× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGM
Segment breakdown not available.
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
