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Side-by-side financial comparison of FORRESTER RESEARCH, INC. (FORR) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $100.0M, roughly 1.0× Latham Group, Inc.). Latham Group, Inc. runs the higher net margin — -7.0% vs -33.5%, a 26.5% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -6.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-4.3M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
FORR vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $101.1M | $100.0M |
| Net Profit | $-33.9M | $-7.0M |
| Gross Margin | 56.7% | 28.0% |
| Operating Margin | -36.6% | -10.7% |
| Net Margin | -33.5% | -7.0% |
| Revenue YoY | -6.5% | 14.5% |
| Net Profit YoY | -7941.4% | 76.0% |
| EPS (diluted) | $-1.75 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $94.3M | $161.9M | ||
| Q2 25 | $111.7M | $172.6M | ||
| Q1 25 | $89.9M | $111.4M | ||
| Q4 24 | $108.0M | $87.3M | ||
| Q3 24 | $102.5M | $150.5M | ||
| Q2 24 | $121.8M | $160.1M | ||
| Q1 24 | $100.1M | $110.6M |
| Q4 25 | $-33.9M | $-7.0M | ||
| Q3 25 | $-2.1M | $8.1M | ||
| Q2 25 | $3.9M | $16.0M | ||
| Q1 25 | $-87.3M | $-6.0M | ||
| Q4 24 | $432.0K | $-29.2M | ||
| Q3 24 | $-5.8M | $5.9M | ||
| Q2 24 | $6.3M | $13.3M | ||
| Q1 24 | $-6.7M | $-7.9M |
| Q4 25 | 56.7% | 28.0% | ||
| Q3 25 | 60.0% | 35.4% | ||
| Q2 25 | 55.5% | 37.1% | ||
| Q1 25 | 55.9% | 29.5% | ||
| Q4 24 | 58.8% | 24.6% | ||
| Q3 24 | 60.5% | 32.4% | ||
| Q2 24 | 57.3% | 33.1% | ||
| Q1 24 | 54.9% | 27.7% |
| Q4 25 | -36.6% | -10.7% | ||
| Q3 25 | 4.7% | 13.3% | ||
| Q2 25 | 6.2% | 14.3% | ||
| Q1 25 | -97.5% | -4.4% | ||
| Q4 24 | -0.5% | -14.9% | ||
| Q3 24 | -0.7% | 8.9% | ||
| Q2 24 | 9.3% | 12.5% | ||
| Q1 24 | -9.3% | -1.9% |
| Q4 25 | -33.5% | -7.0% | ||
| Q3 25 | -2.3% | 5.0% | ||
| Q2 25 | 3.5% | 9.3% | ||
| Q1 25 | -97.1% | -5.4% | ||
| Q4 24 | 0.4% | -33.4% | ||
| Q3 24 | -5.7% | 3.9% | ||
| Q2 24 | 5.2% | 8.3% | ||
| Q1 24 | -6.7% | -7.1% |
| Q4 25 | $-1.75 | $-0.06 | ||
| Q3 25 | $-0.11 | $0.07 | ||
| Q2 25 | $0.20 | $0.13 | ||
| Q1 25 | $-4.62 | $-0.05 | ||
| Q4 24 | $0.02 | $-0.24 | ||
| Q3 24 | $-0.30 | $0.05 | ||
| Q2 24 | $0.33 | $0.11 | ||
| Q1 24 | $-0.35 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $126.5M | $405.9M |
| Total Assets | $404.0M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.3M | — | ||
| Q3 25 | $65.1M | — | ||
| Q2 25 | $67.8M | — | ||
| Q1 25 | $75.6M | — | ||
| Q4 24 | $56.1M | — | ||
| Q3 24 | $62.8M | — | ||
| Q2 24 | $58.9M | — | ||
| Q1 24 | $61.4M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $126.5M | $405.9M | ||
| Q3 25 | $157.7M | $408.4M | ||
| Q2 25 | $159.5M | $398.4M | ||
| Q1 25 | $147.4M | $381.1M | ||
| Q4 24 | $229.5M | $387.2M | ||
| Q3 24 | $234.3M | $416.6M | ||
| Q2 24 | $237.1M | $408.1M | ||
| Q1 24 | $230.9M | $391.8M |
| Q4 25 | $404.0M | $823.2M | ||
| Q3 25 | $414.2M | $844.4M | ||
| Q2 25 | $436.0M | $822.1M | ||
| Q1 25 | $439.8M | $824.6M | ||
| Q4 24 | $503.9M | $794.2M | ||
| Q3 24 | $505.3M | $853.4M | ||
| Q2 24 | $524.2M | $830.0M | ||
| Q1 24 | $555.7M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-4.3M | $14.1M |
| FCF MarginFCF / Revenue | -4.2% | 14.1% |
| Capex IntensityCapex / Revenue | 1.1% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.1M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.2M | $23.3M | ||
| Q3 25 | $1.2M | $51.0M | ||
| Q2 25 | $-3.6M | $36.0M | ||
| Q1 25 | $26.7M | $-46.9M | ||
| Q4 24 | $-1.8M | $6.2M | ||
| Q3 24 | $264.0K | $37.2M | ||
| Q2 24 | $-2.9M | $52.4M | ||
| Q1 24 | $611.0K | $-34.5M |
| Q4 25 | $-4.3M | $14.1M | ||
| Q3 25 | $524.0K | $45.2M | ||
| Q2 25 | $-4.2M | $29.1M | ||
| Q1 25 | $26.1M | $-50.3M | ||
| Q4 24 | $-2.5M | $-98.0K | ||
| Q3 24 | $-223.0K | $33.2M | ||
| Q2 24 | $-3.7M | $47.9M | ||
| Q1 24 | $-815.0K | $-39.9M |
| Q4 25 | -4.2% | 14.1% | ||
| Q3 25 | 0.6% | 27.9% | ||
| Q2 25 | -3.8% | 16.8% | ||
| Q1 25 | 29.0% | -45.2% | ||
| Q4 24 | -2.3% | -0.1% | ||
| Q3 24 | -0.2% | 22.1% | ||
| Q2 24 | -3.1% | 29.9% | ||
| Q1 24 | -0.8% | -36.0% |
| Q4 25 | 1.1% | 9.2% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 0.5% | 4.0% | ||
| Q1 25 | 0.7% | 3.1% | ||
| Q4 24 | 0.6% | 7.2% | ||
| Q3 24 | 0.5% | 2.7% | ||
| Q2 24 | 0.7% | 2.8% | ||
| Q1 24 | 1.4% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | -0.93× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | -0.46× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
