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Bitcoin Depot Inc.（BTM）与弗雷斯特研究公司（FORR）财务数据对比。点击上方公司名可切换其他公司
Bitcoin Depot Inc.的季度营收约是弗雷斯特研究公司的1.6倍（$162.5M vs $101.1M），Bitcoin Depot Inc.净利率更高（3.4% vs -33.5%，领先36.9%），Bitcoin Depot Inc.同比增速更快（20.1% vs -6.5%），Bitcoin Depot Inc.自由现金流更多（$2.5M vs $-4.3M），过去两年弗雷斯特研究公司的营收复合增速更高（0.5% vs -4.9%）
Bitcoin Depot Inc.是北美领先的加密货币自动柜员机运营商，面向零售消费者提供线下自助终端买卖比特币等主流数字资产的服务，同时支持银行转账线上购买加密货币，终端点位广泛铺设在杂货店、加油站、便利店等流量较高的零售场所。
福雷斯特研究公司是一家全球领先的研究咨询机构，主营业务涵盖行业研究、管理咨询与行业峰会举办，客户群体包括全球大型企业、科技公司与消费领域领军企业，公司总部位于美国马萨诸塞州剑桥市。
BTM vs FORR — 直观对比
营收规模更大
BTM
是对方的1.6倍
$101.1M
营收增速更快
BTM
高出26.6%
-6.5%
净利率更高
BTM
高出36.9%
-33.5%
自由现金流更多
BTM
多$6.8M
$-4.3M
两年增速更快
FORR
近两年复合增速
-4.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $162.5M | $101.1M |
| 净利润 | $5.5M | $-33.9M |
| 毛利率 | — | 56.7% |
| 营业利润率 | 7.3% | -36.6% |
| 净利率 | 3.4% | -33.5% |
| 营收同比 | 20.1% | -6.5% |
| 净利润同比 | 690.4% | -7941.4% |
| 每股收益（稀释后） | $0.08 | $-1.75 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BTMFORR
| Q4 25 | — | $101.1M | ||
| Q3 25 | $162.5M | $94.3M | ||
| Q2 25 | $172.1M | $111.7M | ||
| Q1 25 | $164.2M | $89.9M | ||
| Q4 24 | — | $108.0M | ||
| Q3 24 | $135.3M | $102.5M | ||
| Q2 24 | $163.1M | $121.8M | ||
| Q1 24 | $138.5M | $100.1M |
净利润BTMFORR
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $5.5M | $-2.1M | ||
| Q2 25 | $6.1M | $3.9M | ||
| Q1 25 | $4.2M | $-87.3M | ||
| Q4 24 | — | $432.0K | ||
| Q3 24 | $-939.0K | $-5.8M | ||
| Q2 24 | $-2.6M | $6.3M | ||
| Q1 24 | $-1.5M | $-6.7M |
毛利率BTMFORR
| 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% |
营业利润率BTMFORR
| Q4 25 | — | -36.6% | ||
| Q3 25 | 7.3% | 4.7% | ||
| Q2 25 | 9.2% | 6.2% | ||
| Q1 25 | 10.8% | -97.5% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | 4.1% | -0.7% | ||
| Q2 24 | 4.7% | 9.3% | ||
| Q1 24 | 0.5% | -9.3% |
净利率BTMFORR
| Q4 25 | — | -33.5% | ||
| Q3 25 | 3.4% | -2.3% | ||
| Q2 25 | 3.5% | 3.5% | ||
| Q1 25 | 2.6% | -97.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | -0.7% | -5.7% | ||
| Q2 24 | -1.6% | 5.2% | ||
| Q1 24 | -1.1% | -6.7% |
每股收益（稀释后）BTMFORR
| Q4 25 | — | $-1.75 | ||
| Q3 25 | $0.08 | $-0.11 | ||
| Q2 25 | $0.16 | $0.20 | ||
| Q1 25 | $0.20 | $-4.62 | ||
| Q4 24 | — | $0.02 | ||
| Q3 24 | $-0.05 | $-0.30 | ||
| Q2 24 | $-0.13 | $0.33 | ||
| Q1 24 | $-0.25 | $-0.35 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $59.3M | $63.3M |
| 总债务越低越好 | $67.5M | — |
| 股东权益账面价值 | $21.0M | $126.5M |
| 总资产 | $125.3M | $404.0M |
| 负债/权益比越低杠杆越低 | 3.21× | — |
8季度趋势，按日历期对齐
现金及短期投资BTMFORR
| Q4 25 | — | $63.3M | ||
| Q3 25 | $59.3M | $65.1M | ||
| Q2 25 | $48.0M | $67.8M | ||
| Q1 25 | $35.0M | $75.6M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | $32.2M | $62.8M | ||
| Q2 24 | $43.9M | $58.9M | ||
| Q1 24 | $42.2M | $61.4M |
总债务BTMFORR
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
股东权益BTMFORR
| Q4 25 | — | $126.5M | ||
| Q3 25 | $21.0M | $157.7M | ||
| Q2 25 | $4.7M | $159.5M | ||
| Q1 25 | $-4.6M | $147.4M | ||
| Q4 24 | — | $229.5M | ||
| Q3 24 | $-7.9M | $234.3M | ||
| Q2 24 | $4.4M | $237.1M | ||
| Q1 24 | $5.0M | $230.9M |
总资产BTMFORR
| Q4 25 | — | $404.0M | ||
| Q3 25 | $125.3M | $414.2M | ||
| Q2 25 | $109.1M | $436.0M | ||
| Q1 25 | $89.7M | $439.8M | ||
| Q4 24 | — | $503.9M | ||
| Q3 24 | $87.4M | $505.3M | ||
| Q2 24 | $97.5M | $524.2M | ||
| Q1 24 | $90.1M | $555.7M |
负债/权益比BTMFORR
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $6.6M | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | $2.5M | $-4.3M |
| 自由现金流率自由现金流/营收 | 1.6% | -4.2% |
| 资本支出强度资本支出/营收 | 2.5% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $27.1M | $18.1M |
8季度趋势，按日历期对齐
经营现金流BTMFORR
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $6.6M | $1.2M | ||
| Q2 25 | $10.2M | $-3.6M | ||
| Q1 25 | $16.3M | $26.7M | ||
| Q4 24 | — | $-1.8M | ||
| Q3 24 | $5.8M | $264.0K | ||
| Q2 24 | $10.1M | $-2.9M | ||
| Q1 24 | $1.3M | $611.0K |
自由现金流BTMFORR
| Q4 25 | — | $-4.3M | ||
| Q3 25 | $2.5M | $524.0K | ||
| Q2 25 | $9.8M | $-4.2M | ||
| Q1 25 | $15.9M | $26.1M | ||
| Q4 24 | — | $-2.5M | ||
| Q3 24 | $-1.0M | $-223.0K | ||
| Q2 24 | $7.6M | $-3.7M | ||
| Q1 24 | $789.0K | $-815.0K |
自由现金流率BTMFORR
| Q4 25 | — | -4.2% | ||
| Q3 25 | 1.6% | 0.6% | ||
| Q2 25 | 5.7% | -3.8% | ||
| Q1 25 | 9.7% | 29.0% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | -0.8% | -0.2% | ||
| Q2 24 | 4.7% | -3.1% | ||
| Q1 24 | 0.6% | -0.8% |
资本支出强度BTMFORR
| Q4 25 | — | 1.1% | ||
| Q3 25 | 2.5% | 0.7% | ||
| Q2 25 | 0.2% | 0.5% | ||
| Q1 25 | 0.2% | 0.7% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | 5.0% | 0.5% | ||
| Q2 24 | 1.5% | 0.7% | ||
| Q1 24 | 0.4% | 1.4% |
现金转化率BTMFORR
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | -0.93× | ||
| Q1 25 | 3.88× | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BTM
暂无分部数据
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
