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Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) 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 $58.8M, roughly 1.7× CBAK Energy Technology, Inc.). CBAK Energy Technology, Inc. runs the higher net margin — -12.5% vs -33.5%, a 21.0% gap on every dollar of revenue. On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs -6.5%). CBAK Energy Technology, Inc. produced more free cash flow last quarter ($16.1M vs $-4.3M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -0.0%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
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.
CBAT vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $101.1M |
| Net Profit | $-7.4M | $-33.9M |
| Gross Margin | 7.3% | 56.7% |
| Operating Margin | -13.6% | -36.6% |
| Net Margin | -12.5% | -33.5% |
| Revenue YoY | 131.8% | -6.5% |
| Net Profit YoY | -63.6% | -7941.4% |
| EPS (diluted) | $-0.08 | $-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 | $58.8M | $101.1M | ||
| Q3 25 | $60.9M | $94.3M | ||
| Q2 25 | $40.5M | $111.7M | ||
| Q1 25 | $34.9M | $89.9M | ||
| Q4 24 | $25.4M | $108.0M | ||
| Q3 24 | $44.6M | $102.5M | ||
| Q2 24 | $47.8M | $121.8M | ||
| Q1 24 | $58.8M | $100.1M |
| Q4 25 | $-7.4M | $-33.9M | ||
| Q3 25 | $2.7M | $-2.1M | ||
| Q2 25 | $-3.1M | $3.9M | ||
| Q1 25 | $-1.6M | $-87.3M | ||
| Q4 24 | $-4.5M | $432.0K | ||
| Q3 24 | $17.6K | $-5.8M | ||
| Q2 24 | $6.4M | $6.3M | ||
| Q1 24 | $9.8M | $-6.7M |
| Q4 25 | 7.3% | 56.7% | ||
| Q3 25 | 8.0% | 60.0% | ||
| Q2 25 | 11.0% | 55.5% | ||
| Q1 25 | 13.7% | 55.9% | ||
| Q4 24 | 13.1% | 58.8% | ||
| Q3 24 | 15.6% | 60.5% | ||
| Q2 24 | 26.6% | 57.3% | ||
| Q1 24 | 31.9% | 54.9% |
| Q4 25 | -13.6% | -36.6% | ||
| Q3 25 | -6.6% | 4.7% | ||
| Q2 25 | -8.7% | 6.2% | ||
| Q1 25 | -8.2% | -97.5% | ||
| Q4 24 | -26.0% | -0.5% | ||
| Q3 24 | -1.9% | -0.7% | ||
| Q2 24 | 12.4% | 9.3% | ||
| Q1 24 | 17.4% | -9.3% |
| Q4 25 | -12.5% | -33.5% | ||
| Q3 25 | 4.4% | -2.3% | ||
| Q2 25 | -7.6% | 3.5% | ||
| Q1 25 | -4.5% | -97.1% | ||
| Q4 24 | -17.8% | 0.4% | ||
| Q3 24 | 0.0% | -5.7% | ||
| Q2 24 | 13.5% | 5.2% | ||
| Q1 24 | 16.7% | -6.7% |
| Q4 25 | $-0.08 | $-1.75 | ||
| Q3 25 | $0.03 | $-0.11 | ||
| Q2 25 | $-0.03 | $0.20 | ||
| Q1 25 | $-0.02 | $-4.62 | ||
| Q4 24 | $-0.05 | $0.02 | ||
| Q3 24 | $0.00 | $-0.30 | ||
| Q2 24 | $0.07 | $0.33 | ||
| Q1 24 | $0.11 | $-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 | $8.3M | $63.3M |
| Total DebtLower is stronger | $4.1M | — |
| Stockholders' EquityBook value | $112.7M | $126.5M |
| Total Assets | $426.2M | $404.0M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $63.3M | ||
| Q3 25 | $10.5M | $65.1M | ||
| Q2 25 | $45.7M | $67.8M | ||
| Q1 25 | $9.6M | $75.6M | ||
| Q4 24 | $11.0M | $56.1M | ||
| Q3 24 | $24.2M | $62.8M | ||
| Q2 24 | $44.1M | $58.9M | ||
| Q1 24 | $23.8M | $61.4M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $112.7M | $126.5M | ||
| Q3 25 | $121.4M | $157.7M | ||
| Q2 25 | $118.2M | $159.5M | ||
| Q1 25 | $120.8M | $147.4M | ||
| Q4 24 | $121.7M | $229.5M | ||
| Q3 24 | $131.2M | $234.3M | ||
| Q2 24 | $126.6M | $237.1M | ||
| Q1 24 | $120.9M | $230.9M |
| Q4 25 | $426.2M | $404.0M | ||
| Q3 25 | $363.9M | $414.2M | ||
| Q2 25 | $333.1M | $436.0M | ||
| Q1 25 | $311.5M | $439.8M | ||
| Q4 24 | $302.2M | $503.9M | ||
| Q3 24 | $293.5M | $505.3M | ||
| Q2 24 | $279.6M | $524.2M | ||
| Q1 24 | $286.5M | $555.7M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $29.8M | $-3.2M |
| Free Cash FlowOCF − Capex | $16.1M | $-4.3M |
| FCF MarginFCF / Revenue | 27.3% | -4.2% |
| Capex IntensityCapex / Revenue | 23.4% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | $-3.2M | ||
| Q3 25 | $14.6M | $1.2M | ||
| Q2 25 | $13.8M | $-3.6M | ||
| Q1 25 | $-9.6M | $26.7M | ||
| Q4 24 | $9.6M | $-1.8M | ||
| Q3 24 | $19.7M | $264.0K | ||
| Q2 24 | $2.9M | $-2.9M | ||
| Q1 24 | $7.4M | $611.0K |
| Q4 25 | $16.1M | $-4.3M | ||
| Q3 25 | $6.0M | $524.0K | ||
| Q2 25 | $4.1M | $-4.2M | ||
| Q1 25 | $-22.3M | $26.1M | ||
| Q4 24 | $3.9M | $-2.5M | ||
| Q3 24 | $16.5M | $-223.0K | ||
| Q2 24 | $2.5M | $-3.7M | ||
| Q1 24 | $-454.0K | $-815.0K |
| Q4 25 | 27.3% | -4.2% | ||
| Q3 25 | 9.9% | 0.6% | ||
| Q2 25 | 10.2% | -3.8% | ||
| Q1 25 | -63.9% | 29.0% | ||
| Q4 24 | 15.5% | -2.3% | ||
| Q3 24 | 37.1% | -0.2% | ||
| Q2 24 | 5.2% | -3.1% | ||
| Q1 24 | -0.8% | -0.8% |
| Q4 25 | 23.4% | 1.1% | ||
| Q3 25 | 14.1% | 0.7% | ||
| Q2 25 | 23.8% | 0.5% | ||
| Q1 25 | 36.3% | 0.7% | ||
| Q4 24 | 22.5% | 0.6% | ||
| Q3 24 | 7.0% | 0.5% | ||
| Q2 24 | 0.9% | 0.7% | ||
| Q1 24 | 13.4% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | -0.46× | ||
| Q1 24 | 0.76× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
