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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $56.8M, roughly 1.8× LandBridge Co LLC). LandBridge Co LLC runs the higher net margin — 14.2% vs -33.5%, a 47.7% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs -6.5%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $-4.3M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 0.5%).
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.
FORR vs LB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $56.8M |
| Net Profit | $-33.9M | $8.1M |
| Gross Margin | 56.7% | — |
| Operating Margin | -36.6% | 60.0% |
| Net Margin | -33.5% | 14.2% |
| Revenue YoY | -6.5% | 55.6% |
| Net Profit YoY | -7941.4% | -83.7% |
| EPS (diluted) | $-1.75 | $0.24 |
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 | $56.8M | ||
| Q3 25 | $94.3M | $50.8M | ||
| Q2 25 | $111.7M | $47.5M | ||
| Q1 25 | $89.9M | $44.0M | ||
| Q4 24 | $108.0M | $36.5M | ||
| Q3 24 | $102.5M | $28.5M | ||
| Q2 24 | $121.8M | $26.0M | ||
| Q1 24 | $100.1M | $19.0M |
| Q4 25 | $-33.9M | $8.1M | ||
| Q3 25 | $-2.1M | $8.1M | ||
| Q2 25 | $3.9M | $7.5M | ||
| Q1 25 | $-87.3M | $6.5M | ||
| Q4 24 | $432.0K | $49.3M | ||
| Q3 24 | $-5.8M | $2.7M | ||
| Q2 24 | $6.3M | $-57.7M | ||
| Q1 24 | $-6.7M | $10.8M |
| 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% | 60.0% | ||
| Q3 25 | 4.7% | 60.8% | ||
| Q2 25 | 6.2% | 60.0% | ||
| Q1 25 | -97.5% | 57.0% | ||
| Q4 24 | -0.5% | 49.4% | ||
| Q3 24 | -0.7% | 11.2% | ||
| Q2 24 | 9.3% | -197.4% | ||
| Q1 24 | -9.3% | 71.1% |
| Q4 25 | -33.5% | 14.2% | ||
| Q3 25 | -2.3% | 15.9% | ||
| Q2 25 | 3.5% | 15.8% | ||
| Q1 25 | -97.1% | 14.7% | ||
| Q4 24 | 0.4% | 135.2% | ||
| Q3 24 | -5.7% | 9.3% | ||
| Q2 24 | 5.2% | -222.1% | ||
| Q1 24 | -6.7% | 56.7% |
| Q4 25 | $-1.75 | $0.24 | ||
| Q3 25 | $-0.11 | $0.26 | ||
| Q2 25 | $0.20 | $0.24 | ||
| Q1 25 | $-4.62 | $0.20 | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $-0.30 | $-0.04 | ||
| Q2 24 | $0.33 | — | ||
| Q1 24 | $-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 | $30.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $126.5M | $340.3M |
| Total Assets | $404.0M | $1.4B |
| Debt / EquityLower = less leverage | — | 1.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $30.7M | ||
| Q3 25 | $65.1M | $28.3M | ||
| Q2 25 | $67.8M | $20.3M | ||
| Q1 25 | $75.6M | $14.9M | ||
| Q4 24 | $56.1M | $37.0M | ||
| Q3 24 | $62.8M | $14.4M | ||
| Q2 24 | $58.9M | $24.6M | ||
| Q1 24 | $61.4M | — |
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M | ||
| Q1 24 | — | — |
| Q4 25 | $126.5M | $340.3M | ||
| Q3 25 | $157.7M | $272.0M | ||
| Q2 25 | $159.5M | $266.4M | ||
| Q1 25 | $147.4M | $217.0M | ||
| Q4 24 | $229.5M | $211.8M | ||
| Q3 24 | $234.3M | $97.2M | ||
| Q2 24 | $237.1M | $296.4M | ||
| Q1 24 | $230.9M | $162.3M |
| Q4 25 | $404.0M | $1.4B | ||
| Q3 25 | $414.2M | $1.1B | ||
| Q2 25 | $436.0M | $1.1B | ||
| Q1 25 | $439.8M | $1.0B | ||
| Q4 24 | $503.9M | $1.0B | ||
| Q3 24 | $505.3M | $689.9M | ||
| Q2 24 | $524.2M | $710.5M | ||
| Q1 24 | $555.7M | — |
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× | ||
| 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 | $-3.2M | $126.3M |
| Free Cash FlowOCF − Capex | $-4.3M | $122.0M |
| FCF MarginFCF / Revenue | -4.2% | 214.9% |
| Capex IntensityCapex / Revenue | 1.1% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 15.68× |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $207.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $126.3M | ||
| Q3 25 | $1.2M | $34.9M | ||
| Q2 25 | $-3.6M | $37.3M | ||
| Q1 25 | $26.7M | $15.9M | ||
| Q4 24 | $-1.8M | $67.6M | ||
| Q3 24 | $264.0K | $7.5M | ||
| Q2 24 | $-2.9M | $16.0M | ||
| Q1 24 | $611.0K | $17.2M |
| Q4 25 | $-4.3M | $122.0M | ||
| Q3 25 | $524.0K | $33.7M | ||
| Q2 25 | $-4.2M | $36.1M | ||
| Q1 25 | $26.1M | $15.8M | ||
| Q4 24 | $-2.5M | $66.7M | ||
| Q3 24 | $-223.0K | $7.1M | ||
| Q2 24 | $-3.7M | $15.7M | ||
| Q1 24 | $-815.0K | $17.1M |
| Q4 25 | -4.2% | 214.9% | ||
| Q3 25 | 0.6% | 66.3% | ||
| Q2 25 | -3.8% | 75.9% | ||
| Q1 25 | 29.0% | 36.0% | ||
| Q4 24 | -2.3% | 182.6% | ||
| Q3 24 | -0.2% | 25.1% | ||
| Q2 24 | -3.1% | 60.4% | ||
| Q1 24 | -0.8% | 90.1% |
| Q4 25 | 1.1% | 7.5% | ||
| Q3 25 | 0.7% | 2.3% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | 0.7% | 0.2% | ||
| Q4 24 | 0.6% | 2.7% | ||
| Q3 24 | 0.5% | 1.1% | ||
| Q2 24 | 0.7% | 1.4% | ||
| Q1 24 | 1.4% | 0.5% |
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | -0.93× | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | -4.24× | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | 1.60× |
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% |
LB
Segment breakdown not available.
