vs
Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) 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 $81.1M, roughly 1.2× Franklin BSP Realty Trust, Inc.). Franklin BSP Realty Trust, Inc. runs the higher net margin — 22.7% vs -33.5%, a 56.2% gap on every dollar of revenue. On growth, Franklin BSP Realty Trust, Inc. posted the faster year-over-year revenue change (25.8% vs -6.5%). Over the past eight quarters, Franklin BSP Realty Trust, Inc.'s revenue compounded faster (22.6% CAGR vs 0.5%).
Franklin BSP Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on originating, investing in, and managing a diversified portfolio of commercial real estate debt assets, including first mortgage loans, mezzanine financing and other credit-related real estate products. It operates primarily in the U.S. market, targeting consistent risk-adjusted returns and stable income distributions for investors.
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.
FBRT vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $101.1M |
| Net Profit | $18.4M | $-33.9M |
| Gross Margin | — | 56.7% |
| Operating Margin | — | -36.6% |
| Net Margin | 22.7% | -33.5% |
| Revenue YoY | 25.8% | -6.5% |
| Net Profit YoY | -39.1% | -7941.4% |
| EPS (diluted) | $0.13 | $-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 | $81.1M | $101.1M | ||
| Q3 25 | $89.5M | $94.3M | ||
| Q2 25 | $49.3M | $111.7M | ||
| Q1 25 | $50.1M | $89.9M | ||
| Q4 24 | $64.5M | $108.0M | ||
| Q3 24 | $54.0M | $102.5M | ||
| Q2 24 | $50.9M | $121.8M | ||
| Q1 24 | $54.0M | $100.1M |
| Q4 25 | $18.4M | $-33.9M | ||
| Q3 25 | $17.3M | $-2.1M | ||
| Q2 25 | $23.2M | $3.9M | ||
| Q1 25 | $24.1M | $-87.3M | ||
| Q4 24 | $30.2M | $432.0K | ||
| Q3 24 | $31.6M | $-5.8M | ||
| Q2 24 | $-2.2M | $6.3M | ||
| Q1 24 | $35.9M | $-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 | — | -36.6% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | -97.5% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | -9.3% |
| Q4 25 | 22.7% | -33.5% | ||
| Q3 25 | 19.3% | -2.3% | ||
| Q2 25 | 47.1% | 3.5% | ||
| Q1 25 | 48.0% | -97.1% | ||
| Q4 24 | 46.8% | 0.4% | ||
| Q3 24 | 58.5% | -5.7% | ||
| Q2 24 | -4.3% | 5.2% | ||
| Q1 24 | 66.6% | -6.7% |
| Q4 25 | $0.13 | $-1.75 | ||
| Q3 25 | $0.12 | $-0.11 | ||
| Q2 25 | $0.19 | $0.20 | ||
| Q1 25 | $0.20 | $-4.62 | ||
| Q4 24 | $0.28 | $0.02 | ||
| Q3 24 | $0.30 | $-0.30 | ||
| Q2 24 | $-0.11 | $0.33 | ||
| Q1 24 | $0.35 | $-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 | $167.3M | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $126.5M |
| Total Assets | $6.1B | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $63.3M | ||
| Q3 25 | $116.7M | $65.1M | ||
| Q2 25 | $414.1M | $67.8M | ||
| Q1 25 | $215.4M | $75.6M | ||
| Q4 24 | $184.4M | $56.1M | ||
| Q3 24 | $346.2M | $62.8M | ||
| Q2 24 | $94.8M | $58.9M | ||
| Q1 24 | $240.0M | $61.4M |
| Q4 25 | $1.4B | $126.5M | ||
| Q3 25 | $1.5B | $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 | $1.6B | $230.9M |
| Q4 25 | $6.1B | $404.0M | ||
| Q3 25 | $6.2B | $414.2M | ||
| Q2 25 | $5.6B | $436.0M | ||
| Q1 25 | $5.7B | $439.8M | ||
| Q4 24 | $6.0B | $503.9M | ||
| Q3 24 | $6.3B | $505.3M | ||
| Q2 24 | $6.3B | $524.2M | ||
| Q1 24 | $6.0B | $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 | $291.9M | $-3.2M |
| Free Cash FlowOCF − Capex | — | $-4.3M |
| FCF MarginFCF / Revenue | — | -4.2% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | 15.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $291.9M | $-3.2M | ||
| Q3 25 | $-148.1M | $1.2M | ||
| Q2 25 | $11.8M | $-3.6M | ||
| Q1 25 | $116.2M | $26.7M | ||
| Q4 24 | $57.2M | $-1.8M | ||
| Q3 24 | $97.4M | $264.0K | ||
| Q2 24 | $1.9M | $-2.9M | ||
| Q1 24 | $13.0M | $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 | — | 1.1% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 15.88× | — | ||
| Q3 25 | -8.56× | — | ||
| Q2 25 | 0.51× | -0.93× | ||
| Q1 25 | 4.83× | — | ||
| Q4 24 | 1.90× | -4.24× | ||
| Q3 24 | 3.08× | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | 0.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FBRT
| New Point Holdings JVLLC | $77.3M | 95% |
| Other | $2.1M | 3% |
| Office Building | $1.7M | 2% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
