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Side-by-side financial comparison of Ellington Financial Inc. (EFC) 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 $78.2M, roughly 1.3× Ellington Financial Inc.). Ellington Financial Inc. runs the higher net margin — 28.9% vs -33.5%, a 62.4% gap on every dollar of revenue. On growth, Ellington Financial Inc. posted the faster year-over-year revenue change (8.7% vs -6.5%). Over the past eight quarters, Ellington Financial Inc.'s revenue compounded faster (1.8% CAGR vs 0.5%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
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.
EFC vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $101.1M |
| Net Profit | $22.6M | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | 7.4% | -36.6% |
| Net Margin | 28.9% | -33.5% |
| Revenue YoY | 8.7% | -6.5% |
| Net Profit YoY | -26.2% | -7941.4% |
| EPS (diluted) | $0.10 | $-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 | $78.2M | $101.1M | ||
| Q3 25 | $82.8M | $94.3M | ||
| Q2 25 | $92.5M | $111.7M | ||
| Q1 25 | $82.9M | $89.9M | ||
| Q4 24 | $72.0M | $108.0M | ||
| Q3 24 | $67.0M | $102.5M | ||
| Q2 24 | $91.2M | $121.8M | ||
| Q1 24 | $75.5M | $100.1M |
| Q4 25 | $22.6M | $-33.9M | ||
| Q3 25 | $29.5M | $-2.1M | ||
| Q2 25 | $42.9M | $3.9M | ||
| Q1 25 | $31.6M | $-87.3M | ||
| Q4 24 | $30.7M | $432.0K | ||
| Q3 24 | $16.2M | $-5.8M | ||
| Q2 24 | $52.3M | $6.3M | ||
| Q1 24 | $26.9M | $-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 | 7.4% | -36.6% | ||
| Q3 25 | 31.1% | 4.7% | ||
| Q2 25 | 38.3% | 6.2% | ||
| Q1 25 | 37.3% | -97.5% | ||
| Q4 24 | 28.0% | -0.5% | ||
| Q3 24 | 24.0% | -0.7% | ||
| Q2 24 | 52.8% | 9.3% | ||
| Q1 24 | 42.2% | -9.3% |
| Q4 25 | 28.9% | -33.5% | ||
| Q3 25 | 35.7% | -2.3% | ||
| Q2 25 | 46.4% | 3.5% | ||
| Q1 25 | 38.2% | -97.1% | ||
| Q4 24 | 42.6% | 0.4% | ||
| Q3 24 | 24.1% | -5.7% | ||
| Q2 24 | 57.4% | 5.2% | ||
| Q1 24 | 35.6% | -6.7% |
| Q4 25 | $0.10 | $-1.75 | ||
| Q3 25 | $0.29 | $-0.11 | ||
| Q2 25 | $0.45 | $0.20 | ||
| Q1 25 | $0.35 | $-4.62 | ||
| Q4 24 | $0.23 | $0.02 | ||
| Q3 24 | $0.19 | $-0.30 | ||
| Q2 24 | $0.62 | $0.33 | ||
| Q1 24 | $0.32 | $-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 | $201.9M | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $126.5M |
| Total Assets | $19.4B | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $63.3M | ||
| Q3 25 | $184.8M | $65.1M | ||
| Q2 25 | $211.0M | $67.8M | ||
| Q1 25 | $203.3M | $75.6M | ||
| Q4 24 | $192.4M | $56.1M | ||
| Q3 24 | $217.7M | $62.8M | ||
| Q2 24 | $198.5M | $58.9M | ||
| Q1 24 | $187.5M | $61.4M |
| Q4 25 | $1.8B | $126.5M | ||
| Q3 25 | $1.8B | $157.7M | ||
| Q2 25 | $1.7B | $159.5M | ||
| Q1 25 | $1.6B | $147.4M | ||
| Q4 24 | $1.6B | $229.5M | ||
| Q3 24 | $1.6B | $234.3M | ||
| Q2 24 | $1.6B | $237.1M | ||
| Q1 24 | $1.5B | $230.9M |
| Q4 25 | $19.4B | $404.0M | ||
| Q3 25 | $17.8B | $414.2M | ||
| Q2 25 | $17.1B | $436.0M | ||
| Q1 25 | $16.6B | $439.8M | ||
| Q4 24 | $16.3B | $503.9M | ||
| Q3 24 | $16.0B | $505.3M | ||
| Q2 24 | $15.1B | $524.2M | ||
| Q1 24 | $15.1B | $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 | $-925.5M | $-3.2M |
| Free Cash FlowOCF − Capex | — | $-4.3M |
| FCF MarginFCF / Revenue | — | -4.2% |
| Capex IntensityCapex / Revenue | 0.0% | 1.1% |
| Cash ConversionOCF / Net Profit | -40.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $-3.2M | ||
| Q3 25 | $-290.4M | $1.2M | ||
| Q2 25 | $-210.5M | $-3.6M | ||
| Q1 25 | $-126.4M | $26.7M | ||
| Q4 24 | $-430.5M | $-1.8M | ||
| Q3 24 | $-141.7M | $264.0K | ||
| Q2 24 | $-88.6M | $-2.9M | ||
| Q1 24 | $-59.5M | $611.0K |
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $524.0K | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $26.1M | ||
| Q4 24 | — | $-2.5M | ||
| Q3 24 | — | $-223.0K | ||
| Q2 24 | — | $-3.7M | ||
| Q1 24 | — | $-815.0K |
| Q4 25 | — | -4.2% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | -3.8% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | — | -0.2% | ||
| Q2 24 | — | -3.1% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | 0.0% | 1.1% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 0.0% | 0.6% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.7% | ||
| Q1 24 | 0.0% | 1.4% |
| Q4 25 | -40.92× | — | ||
| Q3 25 | -9.84× | — | ||
| Q2 25 | -4.90× | -0.93× | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | -4.24× | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | -0.46× | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
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% |
