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CBAK Energy Technology, Inc.（CBAT）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
弗雷斯特研究公司的季度营收约是CBAK Energy Technology, Inc.的1.7倍（$101.1M vs $58.8M），CBAK Energy Technology, Inc.净利率更高（-12.5% vs -33.5%，领先21.0%），CBAK Energy Technology, Inc.同比增速更快（131.8% vs -6.5%），CBAK Energy Technology, Inc.自由现金流更多（$16.1M 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 -0.0%）
CBAK能源科技是一家专业从事锂离子电池研发、生产与销售的企业，产品涵盖高性能电芯、模组及电池包，主要服务新能源汽车、储能系统、消费电子等核心领域，业务覆盖中国及全球多个市场。
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。
CBAT vs FORR — 直观对比
营收规模更大
FORR
是对方的1.7倍
$58.8M
营收增速更快
CBAT
高出138.2%
-6.5%
净利率更高
CBAT
高出21.0%
-33.5%
自由现金流更多
CBAT
多$20.3M
$-4.3M
两年增速更快
FORR
近两年复合增速
-0.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $58.8M | $101.1M |
| 净利润 | $-7.4M | $-33.9M |
| 毛利率 | 7.3% | 56.7% |
| 营业利润率 | -13.6% | -36.6% |
| 净利率 | -12.5% | -33.5% |
| 营收同比 | 131.8% | -6.5% |
| 净利润同比 | -63.6% | -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CBATFORR
| Q4 25 | $58.8M | $101.1M | ||
| Q3 25 | $60.9M | $94.3M | ||
| Q2 25 | $40.5M | $111.7M | ||
| Q1 25 | $34.9M | $89.9M | ||
| Q4 24 | $25.4M | $108.0M | ||
| Q3 24 | $44.6M | $102.5M | ||
| Q2 24 | $47.8M | $121.8M | ||
| Q1 24 | $58.8M | $100.1M |
净利润CBATFORR
| Q4 25 | $-7.4M | $-33.9M | ||
| Q3 25 | $2.7M | $-2.1M | ||
| Q2 25 | $-3.1M | $3.9M | ||
| Q1 25 | $-1.6M | $-87.3M | ||
| Q4 24 | $-4.5M | $432.0K | ||
| Q3 24 | $17.6K | $-5.8M | ||
| Q2 24 | $6.4M | $6.3M | ||
| Q1 24 | $9.8M | $-6.7M |
毛利率CBATFORR
| Q4 25 | 7.3% | 56.7% | ||
| Q3 25 | 8.0% | 60.0% | ||
| Q2 25 | 11.0% | 55.5% | ||
| Q1 25 | 13.7% | 55.9% | ||
| Q4 24 | 13.1% | 58.8% | ||
| Q3 24 | 15.6% | 60.5% | ||
| Q2 24 | 26.6% | 57.3% | ||
| Q1 24 | 31.9% | 54.9% |
营业利润率CBATFORR
| Q4 25 | -13.6% | -36.6% | ||
| Q3 25 | -6.6% | 4.7% | ||
| Q2 25 | -8.7% | 6.2% | ||
| Q1 25 | -8.2% | -97.5% | ||
| Q4 24 | -26.0% | -0.5% | ||
| Q3 24 | -1.9% | -0.7% | ||
| Q2 24 | 12.4% | 9.3% | ||
| Q1 24 | 17.4% | -9.3% |
净利率CBATFORR
| Q4 25 | -12.5% | -33.5% | ||
| Q3 25 | 4.4% | -2.3% | ||
| Q2 25 | -7.6% | 3.5% | ||
| Q1 25 | -4.5% | -97.1% | ||
| Q4 24 | -17.8% | 0.4% | ||
| Q3 24 | 0.0% | -5.7% | ||
| Q2 24 | 13.5% | 5.2% | ||
| Q1 24 | 16.7% | -6.7% |
每股收益（稀释后）CBATFORR
| Q4 25 | $-0.08 | $-1.75 | ||
| Q3 25 | $0.03 | $-0.11 | ||
| Q2 25 | $-0.03 | $0.20 | ||
| Q1 25 | $-0.02 | $-4.62 | ||
| Q4 24 | $-0.05 | $0.02 | ||
| Q3 24 | $0.00 | $-0.30 | ||
| Q2 24 | $0.07 | $0.33 | ||
| Q1 24 | $0.11 | $-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 | $8.3M | $63.3M |
| 总债务越低越好 | $4.1M | — |
| 股东权益账面价值 | $112.7M | $126.5M |
| 总资产 | $426.2M | $404.0M |
| 负债/权益比越低杠杆越低 | 0.04× | — |
8季度趋势，按日历期对齐
现金及短期投资CBATFORR
| Q4 25 | $8.3M | $63.3M | ||
| Q3 25 | $10.5M | $65.1M | ||
| Q2 25 | $45.7M | $67.8M | ||
| Q1 25 | $9.6M | $75.6M | ||
| Q4 24 | $11.0M | $56.1M | ||
| Q3 24 | $24.2M | $62.8M | ||
| Q2 24 | $44.1M | $58.9M | ||
| Q1 24 | $23.8M | $61.4M |
总债务CBATFORR
| Q4 25 | $4.1M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益CBATFORR
| Q4 25 | $112.7M | $126.5M | ||
| Q3 25 | $121.4M | $157.7M | ||
| Q2 25 | $118.2M | $159.5M | ||
| Q1 25 | $120.8M | $147.4M | ||
| Q4 24 | $121.7M | $229.5M | ||
| Q3 24 | $131.2M | $234.3M | ||
| Q2 24 | $126.6M | $237.1M | ||
| Q1 24 | $120.9M | $230.9M |
总资产CBATFORR
| Q4 25 | $426.2M | $404.0M | ||
| Q3 25 | $363.9M | $414.2M | ||
| Q2 25 | $333.1M | $436.0M | ||
| Q1 25 | $311.5M | $439.8M | ||
| Q4 24 | $302.2M | $503.9M | ||
| Q3 24 | $293.5M | $505.3M | ||
| Q2 24 | $279.6M | $524.2M | ||
| Q1 24 | $286.5M | $555.7M |
负债/权益比CBATFORR
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $29.8M | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | $16.1M | $-4.3M |
| 自由现金流率自由现金流/营收 | 27.3% | -4.2% |
| 资本支出强度资本支出/营收 | 23.4% | 1.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $3.9M | $18.1M |
8季度趋势，按日历期对齐
经营现金流CBATFORR
| Q4 25 | $29.8M | $-3.2M | ||
| Q3 25 | $14.6M | $1.2M | ||
| Q2 25 | $13.8M | $-3.6M | ||
| Q1 25 | $-9.6M | $26.7M | ||
| Q4 24 | $9.6M | $-1.8M | ||
| Q3 24 | $19.7M | $264.0K | ||
| Q2 24 | $2.9M | $-2.9M | ||
| Q1 24 | $7.4M | $611.0K |
自由现金流CBATFORR
| Q4 25 | $16.1M | $-4.3M | ||
| Q3 25 | $6.0M | $524.0K | ||
| Q2 25 | $4.1M | $-4.2M | ||
| Q1 25 | $-22.3M | $26.1M | ||
| Q4 24 | $3.9M | $-2.5M | ||
| Q3 24 | $16.5M | $-223.0K | ||
| Q2 24 | $2.5M | $-3.7M | ||
| Q1 24 | $-454.0K | $-815.0K |
自由现金流率CBATFORR
| Q4 25 | 27.3% | -4.2% | ||
| Q3 25 | 9.9% | 0.6% | ||
| Q2 25 | 10.2% | -3.8% | ||
| Q1 25 | -63.9% | 29.0% | ||
| Q4 24 | 15.5% | -2.3% | ||
| Q3 24 | 37.1% | -0.2% | ||
| Q2 24 | 5.2% | -3.1% | ||
| Q1 24 | -0.8% | -0.8% |
资本支出强度CBATFORR
| Q4 25 | 23.4% | 1.1% | ||
| Q3 25 | 14.1% | 0.7% | ||
| Q2 25 | 23.8% | 0.5% | ||
| Q1 25 | 36.3% | 0.7% | ||
| Q4 24 | 22.5% | 0.6% | ||
| Q3 24 | 7.0% | 0.5% | ||
| Q2 24 | 0.9% | 0.7% | ||
| Q1 24 | 13.4% | 1.4% |
现金转化率CBATFORR
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | -0.46× | ||
| Q1 24 | 0.76× | — |
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
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
