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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and TANGER INC. (SKT). Click either name above to swap in a different company.
TANGER INC. is the larger business by last-quarter revenue ($150.4M vs $101.1M, roughly 1.5× FORRESTER RESEARCH, INC.). TANGER INC. runs the higher net margin — 19.6% vs -33.5%, a 53.1% gap on every dollar of revenue. On growth, TANGER INC. posted the faster year-over-year revenue change (11.1% vs -6.5%). Over the past eight quarters, TANGER INC.'s revenue compounded faster (8.0% 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.
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in open air outlet and lifestyle shopping centers in the United States and Canada.
FORR vs SKT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $150.4M |
| Net Profit | $-33.9M | $29.4M |
| Gross Margin | 56.7% | — |
| Operating Margin | -36.6% | — |
| Net Margin | -33.5% | 19.6% |
| Revenue YoY | -6.5% | 11.1% |
| Net Profit YoY | -7941.4% | 47.1% |
| EPS (diluted) | $-1.75 | $1.05 |
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.
| Q1 26 | — | $150.4M | ||
| Q4 25 | $101.1M | $151.0M | ||
| Q3 25 | $94.3M | $145.2M | ||
| Q2 25 | $111.7M | $140.7M | ||
| Q1 25 | $89.9M | $135.4M | ||
| Q4 24 | $108.0M | $132.2M | ||
| Q3 24 | $102.5M | $133.0M | ||
| Q2 24 | $121.8M | $129.0M |
| Q1 26 | — | $29.4M | ||
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $32.0M | ||
| Q2 25 | $3.9M | $30.1M | ||
| Q1 25 | $-87.3M | $19.2M | ||
| Q4 24 | $432.0K | — | ||
| Q3 24 | $-5.8M | $24.9M | ||
| Q2 24 | $6.3M | $24.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -36.6% | — | ||
| Q3 25 | 4.7% | 20.1% | ||
| Q2 25 | 6.2% | 20.1% | ||
| Q1 25 | -97.5% | 13.0% | ||
| Q4 24 | -0.5% | — | ||
| Q3 24 | -0.7% | 17.8% | ||
| Q2 24 | 9.3% | 17.8% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | 22.1% | ||
| Q2 25 | 3.5% | 21.4% | ||
| Q1 25 | -97.1% | 14.2% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -5.7% | 18.7% | ||
| Q2 24 | 5.2% | 19.3% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $-1.75 | — | ||
| Q3 25 | $-0.11 | $0.28 | ||
| Q2 25 | $0.20 | $0.26 | ||
| Q1 25 | $-4.62 | $0.17 | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $-0.30 | $0.22 | ||
| Q2 24 | $0.33 | $0.22 |
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 | $227.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $126.5M | $697.8M |
| Total Assets | $404.0M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $227.4M | ||
| Q4 25 | $63.3M | $18.1M | ||
| Q3 25 | $65.1M | $13.0M | ||
| Q2 25 | $67.8M | $9.7M | ||
| Q1 25 | $75.6M | $10.2M | ||
| Q4 24 | $56.1M | $47.0M | ||
| Q3 24 | $62.8M | $11.1M | ||
| Q2 24 | $58.9M | $11.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.5B |
| Q1 26 | — | $697.8M | ||
| Q4 25 | $126.5M | — | ||
| Q3 25 | $157.7M | $703.6M | ||
| Q2 25 | $159.5M | $635.2M | ||
| Q1 25 | $147.4M | $633.9M | ||
| Q4 24 | $229.5M | $652.4M | ||
| Q3 24 | $234.3M | $568.3M | ||
| Q2 24 | $237.1M | $553.7M |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $404.0M | — | ||
| Q3 25 | $414.2M | $2.6B | ||
| Q2 25 | $436.0M | $2.5B | ||
| Q1 25 | $439.8M | $2.5B | ||
| Q4 24 | $503.9M | $2.4B | ||
| Q3 24 | $505.3M | $2.3B | ||
| Q2 24 | $524.2M | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.29× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 2.47× | ||
| Q4 24 | — | 2.18× | ||
| Q3 24 | — | 2.51× | ||
| Q2 24 | — | 2.64× |
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 | — |
| Free Cash FlowOCF − Capex | $-4.3M | — |
| FCF MarginFCF / Revenue | -4.2% | — |
| Capex IntensityCapex / Revenue | 1.1% | 6.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | — | ||
| Q3 25 | $1.2M | $74.3M | ||
| Q2 25 | $-3.6M | $82.0M | ||
| Q1 25 | $26.7M | $41.4M | ||
| Q4 24 | $-1.8M | — | ||
| Q3 24 | $264.0K | $65.2M | ||
| Q2 24 | $-2.9M | $72.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | 6.6% | ||
| 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 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.32× | ||
| Q2 25 | -0.93× | 2.73× | ||
| Q1 25 | — | 2.16× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 2.62× | ||
| Q2 24 | -0.46× | 2.93× |
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% |
SKT
| Rental revenue | $143.5M | 95% |
| Other revenue | $4.7M | 3% |
| Management, leasing and other services | $2.2M | 1% |
