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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $101.1M, roughly 1.2× FORRESTER RESEARCH, INC.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -33.5%, a 81.6% gap on every dollar of revenue. On growth, FORRESTER RESEARCH, INC. posted the faster year-over-year revenue change (-6.5% vs -11.0%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-55.2M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -6.0%).
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.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
FORR vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $120.6M |
| Net Profit | $-33.9M | $58.0M |
| Gross Margin | 56.7% | — |
| Operating Margin | -36.6% | 57.3% |
| Net Margin | -33.5% | 48.1% |
| Revenue YoY | -6.5% | -11.0% |
| Net Profit YoY | -7941.4% | 32.7% |
| EPS (diluted) | $-1.75 | $0.22 |
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 | $101.1M | $120.6M | ||
| Q3 25 | $94.3M | $116.4M | ||
| Q2 25 | $111.7M | $135.7M | ||
| Q1 25 | $89.9M | $128.3M | ||
| Q4 24 | $108.0M | $135.5M | ||
| Q3 24 | $102.5M | $127.5M | ||
| Q2 24 | $121.8M | $132.0M | ||
| Q1 24 | $100.1M | $136.4M |
| Q4 25 | $-33.9M | $58.0M | ||
| Q3 25 | $-2.1M | $-10.2M | ||
| Q2 25 | $3.9M | $5.6M | ||
| Q1 25 | $-87.3M | $-29.6M | ||
| Q4 24 | $432.0K | $43.7M | ||
| Q3 24 | $-5.8M | $-66.8M | ||
| Q2 24 | $6.3M | $-48.3M | ||
| Q1 24 | $-6.7M | $37.7M |
| 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% | 57.3% | ||
| Q3 25 | 4.7% | -6.2% | ||
| Q2 25 | 6.2% | 7.4% | ||
| Q1 25 | -97.5% | -26.9% | ||
| Q4 24 | -0.5% | 36.7% | ||
| Q3 24 | -0.7% | -60.8% | ||
| Q2 24 | 9.3% | -45.5% | ||
| Q1 24 | -9.3% | 47.2% |
| Q4 25 | -33.5% | 48.1% | ||
| Q3 25 | -2.3% | -8.8% | ||
| Q2 25 | 3.5% | 4.1% | ||
| Q1 25 | -97.1% | -23.1% | ||
| Q4 24 | 0.4% | 32.3% | ||
| Q3 24 | -5.7% | -52.4% | ||
| Q2 24 | 5.2% | -36.6% | ||
| Q1 24 | -6.7% | 27.6% |
| Q4 25 | $-1.75 | $0.22 | ||
| Q3 25 | $-0.11 | $-0.15 | ||
| Q2 25 | $0.20 | $-0.05 | ||
| Q1 25 | $-4.62 | $-0.30 | ||
| Q4 24 | $0.02 | $0.24 | ||
| Q3 24 | $-0.30 | $-0.56 | ||
| Q2 24 | $0.33 | $-0.43 | ||
| Q1 24 | $-0.35 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $1.5B |
| Total Assets | $404.0M | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $184.5M | ||
| Q3 25 | $65.1M | $382.6M | ||
| Q2 25 | $67.8M | $309.1M | ||
| Q1 25 | $75.6M | $356.6M | ||
| Q4 24 | $56.1M | $217.5M | ||
| Q3 24 | $62.8M | $367.1M | ||
| Q2 24 | $58.9M | $366.5M | ||
| Q1 24 | $61.4M | $541.9M |
| Q4 25 | $126.5M | $1.5B | ||
| Q3 25 | $157.7M | $1.5B | ||
| Q2 25 | $159.5M | $1.6B | ||
| Q1 25 | $147.4M | $1.6B | ||
| Q4 24 | $229.5M | $1.6B | ||
| Q3 24 | $234.3M | $1.6B | ||
| Q2 24 | $237.1M | $1.7B | ||
| Q1 24 | $230.9M | $1.7B |
| Q4 25 | $404.0M | $6.6B | ||
| Q3 25 | $414.2M | $6.7B | ||
| Q2 25 | $436.0M | $6.8B | ||
| Q1 25 | $439.8M | $7.2B | ||
| Q4 24 | $503.9M | $7.0B | ||
| Q3 24 | $505.3M | $7.4B | ||
| Q2 24 | $524.2M | $7.5B | ||
| Q1 24 | $555.7M | $7.7B |
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 | $-3.2M | $11.4M |
| Free Cash FlowOCF − Capex | $-4.3M | $-55.2M |
| FCF MarginFCF / Revenue | -4.2% | -45.8% |
| Capex IntensityCapex / Revenue | 1.1% | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $11.4M | ||
| Q3 25 | $1.2M | $-7.6M | ||
| Q2 25 | $-3.6M | $42.0M | ||
| Q1 25 | $26.7M | $-51.9M | ||
| Q4 24 | $-1.8M | $55.1M | ||
| Q3 24 | $264.0K | $-5.6M | ||
| Q2 24 | $-2.9M | $36.7M | ||
| Q1 24 | $611.0K | $-5.6M |
| Q4 25 | $-4.3M | $-55.2M | ||
| Q3 25 | $524.0K | $-18.0M | ||
| Q2 25 | $-4.2M | $29.4M | ||
| Q1 25 | $26.1M | $-59.7M | ||
| Q4 24 | $-2.5M | $-76.5M | ||
| Q3 24 | $-223.0K | $-27.7M | ||
| Q2 24 | $-3.7M | $-500.0K | ||
| Q1 24 | $-815.0K | $-57.1M |
| Q4 25 | -4.2% | -45.8% | ||
| Q3 25 | 0.6% | -15.5% | ||
| Q2 25 | -3.8% | 21.7% | ||
| Q1 25 | 29.0% | -46.5% | ||
| Q4 24 | -2.3% | -56.5% | ||
| Q3 24 | -0.2% | -21.7% | ||
| Q2 24 | -3.1% | -0.4% | ||
| Q1 24 | -0.8% | -41.9% |
| Q4 25 | 1.1% | 55.2% | ||
| Q3 25 | 0.7% | 8.9% | ||
| Q2 25 | 0.5% | 9.3% | ||
| Q1 25 | 0.7% | 6.1% | ||
| Q4 24 | 0.6% | 97.1% | ||
| Q3 24 | 0.5% | 17.3% | ||
| Q2 24 | 0.7% | 28.2% | ||
| Q1 24 | 1.4% | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
