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Side-by-side financial comparison of Burke & Herbert Financial Services Corp. (BHRB) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $86.5M, roughly 1.2× Burke & Herbert Financial Services Corp.). Burke & Herbert Financial Services Corp. runs the higher net margin — 34.9% vs -33.5%, a 68.5% gap on every dollar of revenue. On growth, Burke & Herbert Financial Services Corp. posted the faster year-over-year revenue change (4.9% vs -6.5%). Burke & Herbert Financial Services Corp. produced more free cash flow last quarter ($96.2M vs $-4.3M). Over the past eight quarters, Burke & Herbert Financial Services Corp.'s revenue compounded faster (81.1% CAGR vs 0.5%).
Burke & Herbert Financial Services Corp is a U.S.-based regional financial holding company, offering personal and commercial banking, wealth management, residential mortgage lending, and small business financing services. Its core market covers Virginia and adjacent Mid-Atlantic regions, serving retail consumers, SMEs, and high-net-worth clients.
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.
BHRB vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.5M | $101.1M |
| Net Profit | $30.2M | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | 43.8% | -36.6% |
| Net Margin | 34.9% | -33.5% |
| Revenue YoY | 4.9% | -6.5% |
| Net Profit YoY | 52.8% | -7941.4% |
| EPS (diluted) | $1.98 | $-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 | $86.5M | $101.1M | ||
| Q3 25 | $85.4M | $94.3M | ||
| Q2 25 | $87.1M | $111.7M | ||
| Q1 25 | $83.0M | $89.9M | ||
| Q4 24 | $82.5M | $108.0M | ||
| Q3 24 | $83.8M | $102.5M | ||
| Q2 24 | $69.3M | $121.8M | ||
| Q1 24 | $26.4M | $100.1M |
| Q4 25 | $30.2M | $-33.9M | ||
| Q3 25 | $30.0M | $-2.1M | ||
| Q2 25 | $29.9M | $3.9M | ||
| Q1 25 | $27.2M | $-87.3M | ||
| Q4 24 | $19.8M | $432.0K | ||
| Q3 24 | $27.6M | $-5.8M | ||
| Q2 24 | $-16.9M | $6.3M | ||
| Q1 24 | $5.2M | $-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 | 43.8% | -36.6% | ||
| Q3 25 | 43.3% | 4.7% | ||
| Q2 25 | 42.7% | 6.2% | ||
| Q1 25 | 39.6% | -97.5% | ||
| Q4 24 | 24.6% | -0.5% | ||
| Q3 24 | 39.2% | -0.7% | ||
| Q2 24 | -27.5% | 9.3% | ||
| Q1 24 | 22.3% | -9.3% |
| Q4 25 | 34.9% | -33.5% | ||
| Q3 25 | 35.1% | -2.3% | ||
| Q2 25 | 34.3% | 3.5% | ||
| Q1 25 | 32.8% | -97.1% | ||
| Q4 24 | 24.0% | 0.4% | ||
| Q3 24 | 33.0% | -5.7% | ||
| Q2 24 | -24.4% | 5.2% | ||
| Q1 24 | 19.8% | -6.7% |
| Q4 25 | $1.98 | $-1.75 | ||
| Q3 25 | $1.97 | $-0.11 | ||
| Q2 25 | $1.97 | $0.20 | ||
| Q1 25 | $1.80 | $-4.62 | ||
| Q4 24 | $1.72 | $0.02 | ||
| Q3 24 | $1.82 | $-0.30 | ||
| Q2 24 | $-1.41 | $0.33 | ||
| Q1 24 | $0.69 | $-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 | — | — |
| Stockholders' EquityBook value | $854.6M | $126.5M |
| Total Assets | $7.9B | $404.0M |
| Debt / EquityLower = less leverage | — | — |
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 | — | $62.8M | ||
| Q2 24 | — | $58.9M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | $854.6M | $126.5M | ||
| Q3 25 | $822.2M | $157.7M | ||
| Q2 25 | $780.0M | $159.5M | ||
| Q1 25 | $758.0M | $147.4M | ||
| Q4 24 | $730.2M | $229.5M | ||
| Q3 24 | $738.1M | $234.3M | ||
| Q2 24 | $693.1M | $237.1M | ||
| Q1 24 | $319.3M | $230.9M |
| Q4 25 | $7.9B | $404.0M | ||
| Q3 25 | $7.9B | $414.2M | ||
| Q2 25 | $8.1B | $436.0M | ||
| Q1 25 | $7.8B | $439.8M | ||
| Q4 24 | $7.8B | $503.9M | ||
| Q3 24 | $7.9B | $505.3M | ||
| Q2 24 | $7.8B | $524.2M | ||
| Q1 24 | $3.7B | $555.7M |
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 | $107.9M | $-3.2M |
| Free Cash FlowOCF − Capex | $96.2M | $-4.3M |
| FCF MarginFCF / Revenue | 111.2% | -4.2% |
| Capex IntensityCapex / Revenue | 13.5% | 1.1% |
| Cash ConversionOCF / Net Profit | 3.57× | — |
| TTM Free Cash FlowTrailing 4 quarters | $164.1M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.9M | $-3.2M | ||
| Q3 25 | $39.3M | $1.2M | ||
| Q2 25 | $41.0K | $-3.6M | ||
| Q1 25 | $37.6M | $26.7M | ||
| Q4 24 | $85.8M | $-1.8M | ||
| Q3 24 | $47.8M | $264.0K | ||
| Q2 24 | $-46.0M | $-2.9M | ||
| Q1 24 | $7.1M | $611.0K |
| Q4 25 | $96.2M | $-4.3M | ||
| Q3 25 | $35.4M | $524.0K | ||
| Q2 25 | $-3.4M | $-4.2M | ||
| Q1 25 | $35.9M | $26.1M | ||
| Q4 24 | $81.2M | $-2.5M | ||
| Q3 24 | $46.0M | $-223.0K | ||
| Q2 24 | $-47.0M | $-3.7M | ||
| Q1 24 | $5.6M | $-815.0K |
| Q4 25 | 111.2% | -4.2% | ||
| Q3 25 | 41.5% | 0.6% | ||
| Q2 25 | -3.9% | -3.8% | ||
| Q1 25 | 43.2% | 29.0% | ||
| Q4 24 | 98.5% | -2.3% | ||
| Q3 24 | 55.0% | -0.2% | ||
| Q2 24 | -67.8% | -3.1% | ||
| Q1 24 | 21.2% | -0.8% |
| Q4 25 | 13.5% | 1.1% | ||
| Q3 25 | 4.5% | 0.7% | ||
| Q2 25 | 3.9% | 0.5% | ||
| Q1 25 | 2.1% | 0.7% | ||
| Q4 24 | 5.5% | 0.6% | ||
| Q3 24 | 2.1% | 0.5% | ||
| Q2 24 | 1.5% | 0.7% | ||
| Q1 24 | 5.7% | 1.4% |
| Q4 25 | 3.57× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.00× | -0.93× | ||
| Q1 25 | 1.38× | — | ||
| Q4 24 | 4.33× | -4.24× | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | 1.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BHRB
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% |
