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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and MEDALLION FINANCIAL CORP (MFIN). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $70.6M, roughly 1.4× MEDALLION FINANCIAL CORP). MEDALLION FINANCIAL CORP runs the higher net margin — 17.3% vs -33.5%, a 50.8% gap on every dollar of revenue. On growth, MEDALLION FINANCIAL CORP posted the faster year-over-year revenue change (25.4% vs -6.5%). Over the past eight quarters, MEDALLION FINANCIAL CORP's revenue compounded faster (15.0% 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.
Mahindra & Mahindra Financial Services Limited (MMFSL) is an Indian rural non-banking financial company headquartered in Mumbai. It is amongst the top tractor financers in India, with 1000+ offices across the country.
FORR vs MFIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $70.6M |
| Net Profit | $-33.9M | $12.2M |
| Gross Margin | 56.7% | — |
| Operating Margin | -36.6% | 29.3% |
| Net Margin | -33.5% | 17.3% |
| Revenue YoY | -6.5% | 25.4% |
| Net Profit YoY | -7941.4% | 20.3% |
| EPS (diluted) | $-1.75 | $0.50 |
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 | $70.6M | ||
| Q3 25 | $94.3M | $58.7M | ||
| Q2 25 | $111.7M | $62.6M | ||
| Q1 25 | $89.9M | $63.0M | ||
| Q4 24 | $108.0M | $56.3M | ||
| Q3 24 | $102.5M | $53.3M | ||
| Q2 24 | $121.8M | $51.0M | ||
| Q1 24 | $100.1M | $53.3M |
| Q4 25 | $-33.9M | $12.2M | ||
| Q3 25 | $-2.1M | $7.8M | ||
| Q2 25 | $3.9M | $11.1M | ||
| Q1 25 | $-87.3M | $12.0M | ||
| Q4 24 | $432.0K | $10.1M | ||
| Q3 24 | $-5.8M | $8.6M | ||
| Q2 24 | $6.3M | $7.1M | ||
| Q1 24 | $-6.7M | $10.0M |
| 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% | 29.3% | ||
| Q3 25 | 4.7% | 33.2% | ||
| Q2 25 | 6.2% | 31.1% | ||
| Q1 25 | -97.5% | 32.1% | ||
| Q4 24 | -0.5% | 32.8% | ||
| Q3 24 | -0.7% | 26.6% | ||
| Q2 24 | 9.3% | 24.3% | ||
| Q1 24 | -9.3% | 33.6% |
| Q4 25 | -33.5% | 17.3% | ||
| Q3 25 | -2.3% | 13.2% | ||
| Q2 25 | 3.5% | 17.7% | ||
| Q1 25 | -97.1% | 19.1% | ||
| Q4 24 | 0.4% | 18.0% | ||
| Q3 24 | -5.7% | 16.1% | ||
| Q2 24 | 5.2% | 13.9% | ||
| Q1 24 | -6.7% | 18.8% |
| Q4 25 | $-1.75 | $0.50 | ||
| Q3 25 | $-0.11 | $0.32 | ||
| Q2 25 | $0.20 | $0.46 | ||
| Q1 25 | $-4.62 | $0.50 | ||
| Q4 24 | $0.02 | $0.43 | ||
| Q3 24 | $-0.30 | $0.37 | ||
| Q2 24 | $0.33 | $0.30 | ||
| Q1 24 | $-0.35 | $0.42 |
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 | $136.3M |
| Total DebtLower is stronger | — | $216.0M |
| Stockholders' EquityBook value | $126.5M | $408.6M |
| Total Assets | $404.0M | $3.0B |
| Debt / EquityLower = less leverage | — | 0.53× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $136.3M | ||
| Q3 25 | $65.1M | $72.5M | ||
| Q2 25 | $67.8M | $110.4M | ||
| Q1 25 | $75.6M | $131.5M | ||
| Q4 24 | $56.1M | $98.2M | ||
| Q3 24 | $62.8M | $120.6M | ||
| Q2 24 | $58.9M | $87.7M | ||
| Q1 24 | $61.4M | $54.8M |
| Q4 25 | — | $216.0M | ||
| Q3 25 | — | $215.7M | ||
| Q2 25 | — | $199.9M | ||
| Q1 25 | — | $199.7M | ||
| Q4 24 | — | $232.2M | ||
| Q3 24 | — | $232.0M | ||
| Q2 24 | — | $230.8M | ||
| Q1 24 | — | $225.6M |
| Q4 25 | $126.5M | $408.6M | ||
| Q3 25 | $157.7M | $397.4M | ||
| Q2 25 | $159.5M | $389.9M | ||
| Q1 25 | $147.4M | $380.2M | ||
| Q4 24 | $229.5M | $370.2M | ||
| Q3 24 | $234.3M | $362.4M | ||
| Q2 24 | $237.1M | $354.0M | ||
| Q1 24 | $230.9M | $349.0M |
| Q4 25 | $404.0M | $3.0B | ||
| Q3 25 | $414.2M | $2.9B | ||
| Q2 25 | $436.0M | $2.9B | ||
| Q1 25 | $439.8M | $2.8B | ||
| Q4 24 | $503.9M | $2.9B | ||
| Q3 24 | $505.3M | $2.9B | ||
| Q2 24 | $524.2M | $2.8B | ||
| Q1 24 | $555.7M | $2.6B |
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | — | 0.65× |
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 | — |
| FCF MarginFCF / Revenue | -4.2% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | — | 10.35× |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $126.3M | ||
| Q3 25 | $1.2M | $67.0M | ||
| Q2 25 | $-3.6M | $-10.7M | ||
| Q1 25 | $26.7M | $36.3M | ||
| Q4 24 | $-1.8M | $108.7M | ||
| Q3 24 | $264.0K | $24.6M | ||
| Q2 24 | $-2.9M | $27.6M | ||
| Q1 24 | $611.0K | $32.3M |
| 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 | — | 10.35× | ||
| Q3 25 | — | 8.63× | ||
| Q2 25 | -0.93× | -0.97× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | -4.24× | 10.72× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | -0.46× | 3.89× | ||
| Q1 24 | — | 3.22× |
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% |
MFIN
Segment breakdown not available.
