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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $75.5M, roughly 1.3× PUMA BIOTECHNOLOGY, INC.). On growth, PUMA BIOTECHNOLOGY, INC. posted the faster year-over-year revenue change (27.7% vs -6.5%). PUMA BIOTECHNOLOGY, INC. produced more free cash flow last quarter ($14.4M vs $-4.3M). Over the past eight quarters, PUMA BIOTECHNOLOGY, INC.'s revenue compounded faster (31.3% 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.
Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.
FORR vs PBYI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $75.5M |
| Net Profit | $-33.9M | — |
| Gross Margin | 56.7% | 69.3% |
| Operating Margin | -36.6% | 22.7% |
| Net Margin | -33.5% | — |
| Revenue YoY | -6.5% | 27.7% |
| Net Profit YoY | -7941.4% | — |
| EPS (diluted) | $-1.75 | $0.26 |
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 | $75.5M | ||
| Q3 25 | $94.3M | $54.5M | ||
| Q2 25 | $111.7M | $52.4M | ||
| Q1 25 | $89.9M | $46.0M | ||
| Q4 24 | $108.0M | $59.1M | ||
| Q3 24 | $102.5M | $80.5M | ||
| Q2 24 | $121.8M | $47.1M | ||
| Q1 24 | $100.1M | $43.8M |
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $8.8M | ||
| Q2 25 | $3.9M | $5.9M | ||
| Q1 25 | $-87.3M | $3.0M | ||
| Q4 24 | $432.0K | — | ||
| Q3 24 | $-5.8M | $20.3M | ||
| Q2 24 | $6.3M | $-4.5M | ||
| Q1 24 | $-6.7M | $-4.8M |
| Q4 25 | 56.7% | 69.3% | ||
| Q3 25 | 60.0% | 77.7% | ||
| Q2 25 | 55.5% | 76.5% | ||
| Q1 25 | 55.9% | 77.1% | ||
| Q4 24 | 58.8% | 76.4% | ||
| Q3 24 | 60.5% | 63.9% | ||
| Q2 24 | 57.3% | 77.4% | ||
| Q1 24 | 54.9% | 75.5% |
| Q4 25 | -36.6% | 22.7% | ||
| Q3 25 | 4.7% | 17.6% | ||
| Q2 25 | 6.2% | 12.7% | ||
| Q1 25 | -97.5% | 8.7% | ||
| Q4 24 | -0.5% | 22.6% | ||
| Q3 24 | -0.7% | 27.4% | ||
| Q2 24 | 9.3% | -4.6% | ||
| Q1 24 | -9.3% | -5.3% |
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | 16.2% | ||
| Q2 25 | 3.5% | 11.2% | ||
| Q1 25 | -97.1% | 6.5% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -5.7% | 25.2% | ||
| Q2 24 | 5.2% | -9.6% | ||
| Q1 24 | -6.7% | -11.0% |
| Q4 25 | $-1.75 | $0.26 | ||
| Q3 25 | $-0.11 | $0.17 | ||
| Q2 25 | $0.20 | $0.12 | ||
| Q1 25 | $-4.62 | $0.06 | ||
| Q4 24 | $0.02 | $0.40 | ||
| Q3 24 | $-0.30 | $0.41 | ||
| Q2 24 | $0.33 | $-0.09 | ||
| Q1 24 | $-0.35 | $-0.10 |
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 | $97.5M |
| Total DebtLower is stronger | — | $22.7M |
| Stockholders' EquityBook value | $126.5M | $130.3M |
| Total Assets | $404.0M | $216.3M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | $97.5M | ||
| Q3 25 | $65.1M | $94.4M | ||
| Q2 25 | $67.8M | $96.0M | ||
| Q1 25 | $75.6M | $93.2M | ||
| Q4 24 | $56.1M | $101.0M | ||
| Q3 24 | $62.8M | $96.7M | ||
| Q2 24 | $58.9M | $96.8M | ||
| Q1 24 | $61.4M | $107.2M |
| Q4 25 | — | $22.7M | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $79.3M | ||
| Q2 24 | — | $90.7M | ||
| Q1 24 | — | $102.0M |
| Q4 25 | $126.5M | $130.3M | ||
| Q3 25 | $157.7M | $115.3M | ||
| Q2 25 | $159.5M | $104.7M | ||
| Q1 25 | $147.4M | $97.1M | ||
| Q4 24 | $229.5M | $92.1M | ||
| Q3 24 | $234.3M | $71.1M | ||
| Q2 24 | $237.1M | $48.5M | ||
| Q1 24 | $230.9M | $51.0M |
| Q4 25 | $404.0M | $216.3M | ||
| Q3 25 | $414.2M | $202.9M | ||
| Q2 25 | $436.0M | $194.9M | ||
| Q1 25 | $439.8M | $196.2M | ||
| Q4 24 | $503.9M | $213.3M | ||
| Q3 24 | $505.3M | $220.7M | ||
| Q2 24 | $524.2M | $205.0M | ||
| Q1 24 | $555.7M | $214.1M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 2.00× |
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 | $14.4M |
| Free Cash FlowOCF − Capex | $-4.3M | $14.4M |
| FCF MarginFCF / Revenue | -4.2% | 19.1% |
| Capex IntensityCapex / Revenue | 1.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $41.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $14.4M | ||
| Q3 25 | $1.2M | $9.7M | ||
| Q2 25 | $-3.6M | $14.1M | ||
| Q1 25 | $26.7M | $3.6M | ||
| Q4 24 | $-1.8M | $15.6M | ||
| Q3 24 | $264.0K | $11.0M | ||
| Q2 24 | $-2.9M | $1.0M | ||
| Q1 24 | $611.0K | $11.2M |
| Q4 25 | $-4.3M | $14.4M | ||
| Q3 25 | $524.0K | $9.7M | ||
| Q2 25 | $-4.2M | $14.1M | ||
| Q1 25 | $26.1M | $3.6M | ||
| Q4 24 | $-2.5M | $15.6M | ||
| Q3 24 | $-223.0K | $11.0M | ||
| Q2 24 | $-3.7M | $1.0M | ||
| Q1 24 | $-815.0K | — |
| Q4 25 | -4.2% | 19.1% | ||
| Q3 25 | 0.6% | 17.7% | ||
| Q2 25 | -3.8% | 26.8% | ||
| Q1 25 | 29.0% | 7.7% | ||
| Q4 24 | -2.3% | 26.4% | ||
| Q3 24 | -0.2% | 13.7% | ||
| Q2 24 | -3.1% | 2.1% | ||
| Q1 24 | -0.8% | — |
| Q4 25 | 1.1% | 0.0% | ||
| Q3 25 | 0.7% | 0.0% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | 0.7% | 0.1% | ||
| Q4 24 | 0.6% | 0.0% | ||
| Q3 24 | 0.5% | 0.0% | ||
| Q2 24 | 0.7% | 0.0% | ||
| Q1 24 | 1.4% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | -0.93× | 2.41× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | — |
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% |
PBYI
Segment breakdown not available.
