vs
Coursera, Inc.（COUR）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
Coursera, Inc.的季度营收约是弗雷斯特研究公司的1.9倍（$196.9M vs $101.1M），Coursera, Inc.净利率更高（-13.6% vs -33.5%，领先19.9%），Coursera, Inc.同比增速更快（9.9% vs -6.5%），Coursera, Inc.自由现金流更多（$5.4M vs $-4.3M），过去两年Coursera, Inc.的营收复合增速更高（7.9% vs 0.5%）
Coursera Inc.是美国营利性在线教育平台，由斯坦福大学计算机科学教授吴恩达与达芙妮·科勒于2012年创立。创立初期它作为全球大型开放式网络课程平台运营，目前和全球多所大学及各类机构合作，提供涵盖多个学科领域的在线课程、证书与学位项目。
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。
COUR vs FORR — 直观对比
营收规模更大
COUR
是对方的1.9倍
$101.1M
营收增速更快
COUR
高出16.3%
-6.5%
净利率更高
COUR
高出19.9%
-33.5%
自由现金流更多
COUR
多$9.7M
$-4.3M
两年增速更快
COUR
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $196.9M | $101.1M |
| 净利润 | $-26.8M | $-33.9M |
| 毛利率 | 54.2% | 56.7% |
| 营业利润率 | -16.4% | -36.6% |
| 净利率 | -13.6% | -33.5% |
| 营收同比 | 9.9% | -6.5% |
| 净利润同比 | -24.1% | -7941.4% |
| 每股收益（稀释后） | $-0.16 | $-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COURFORR
| Q4 25 | $196.9M | $101.1M | ||
| Q3 25 | $194.2M | $94.3M | ||
| Q2 25 | $187.1M | $111.7M | ||
| Q1 25 | $179.3M | $89.9M | ||
| Q4 24 | $179.2M | $108.0M | ||
| Q3 24 | $176.1M | $102.5M | ||
| Q2 24 | $170.3M | $121.8M | ||
| Q1 24 | $169.1M | $100.1M |
净利润COURFORR
| Q4 25 | $-26.8M | $-33.9M | ||
| Q3 25 | $-8.6M | $-2.1M | ||
| Q2 25 | $-7.8M | $3.9M | ||
| Q1 25 | $-7.8M | $-87.3M | ||
| Q4 24 | $-21.6M | $432.0K | ||
| Q3 24 | $-13.7M | $-5.8M | ||
| Q2 24 | $-22.9M | $6.3M | ||
| Q1 24 | $-21.3M | $-6.7M |
毛利率COURFORR
| Q4 25 | 54.2% | 56.7% | ||
| Q3 25 | 54.6% | 60.0% | ||
| Q2 25 | 54.9% | 55.5% | ||
| Q1 25 | 54.6% | 55.9% | ||
| Q4 24 | 53.3% | 58.8% | ||
| Q3 24 | 54.6% | 60.5% | ||
| Q2 24 | 53.0% | 57.3% | ||
| Q1 24 | 52.9% | 54.9% |
营业利润率COURFORR
| Q4 25 | -16.4% | -36.6% | ||
| Q3 25 | -8.0% | 4.7% | ||
| Q2 25 | -8.1% | 6.2% | ||
| Q1 25 | -8.0% | -97.5% | ||
| Q4 24 | -17.0% | -0.5% | ||
| Q3 24 | -12.3% | -0.7% | ||
| Q2 24 | -18.3% | 9.3% | ||
| Q1 24 | -17.6% | -9.3% |
净利率COURFORR
| Q4 25 | -13.6% | -33.5% | ||
| Q3 25 | -4.4% | -2.3% | ||
| Q2 25 | -4.2% | 3.5% | ||
| Q1 25 | -4.4% | -97.1% | ||
| Q4 24 | -12.1% | 0.4% | ||
| Q3 24 | -7.8% | -5.7% | ||
| Q2 24 | -13.4% | 5.2% | ||
| Q1 24 | -12.6% | -6.7% |
每股收益（稀释后）COURFORR
| Q4 25 | $-0.16 | $-1.75 | ||
| Q3 25 | $-0.05 | $-0.11 | ||
| Q2 25 | $-0.05 | $0.20 | ||
| Q1 25 | $-0.05 | $-4.62 | ||
| Q4 24 | $-0.13 | $0.02 | ||
| Q3 24 | $-0.09 | $-0.30 | ||
| Q2 24 | $-0.15 | $0.33 | ||
| Q1 24 | $-0.14 | $-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 | $792.6M | $63.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $635.7M | $126.5M |
| 总资产 | $1.0B | $404.0M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资COURFORR
| Q4 25 | $792.6M | $63.3M | ||
| Q3 25 | $797.7M | $65.1M | ||
| Q2 25 | $775.1M | $67.8M | ||
| Q1 25 | $748.0M | $75.6M | ||
| Q4 24 | $726.1M | $56.1M | ||
| Q3 24 | $719.4M | $62.8M | ||
| Q2 24 | $708.8M | $58.9M | ||
| Q1 24 | $725.4M | $61.4M |
股东权益COURFORR
| Q4 25 | $635.7M | $126.5M | ||
| Q3 25 | $639.5M | $157.7M | ||
| Q2 25 | $627.0M | $159.5M | ||
| Q1 25 | $610.5M | $147.4M | ||
| Q4 24 | $597.4M | $229.5M | ||
| Q3 24 | $593.3M | $234.3M | ||
| Q2 24 | $585.2M | $237.1M | ||
| Q1 24 | $609.1M | $230.9M |
总资产COURFORR
| Q4 25 | $1.0B | $404.0M | ||
| Q3 25 | $995.3M | $414.2M | ||
| Q2 25 | $979.9M | $436.0M | ||
| Q1 25 | $951.2M | $439.8M | ||
| Q4 24 | $930.3M | $503.9M | ||
| Q3 24 | $914.1M | $505.3M | ||
| Q2 24 | $904.4M | $524.2M | ||
| Q1 24 | $916.3M | $555.7M |
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 | $5.8M | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | $5.4M | $-4.3M |
| 自由现金流率自由现金流/营收 | 2.7% | -4.2% |
| 资本支出强度资本支出/营收 | 0.2% | 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 | $107.2M | $18.1M |
8季度趋势，按日历期对齐
经营现金流COURFORR
| Q4 25 | $5.8M | $-3.2M | ||
| Q3 25 | $33.9M | $1.2M | ||
| Q2 25 | $35.5M | $-3.6M | ||
| Q1 25 | $33.5M | $26.7M | ||
| Q4 24 | $19.2M | $-1.8M | ||
| Q3 24 | $27.9M | $264.0K | ||
| Q2 24 | $23.8M | $-2.9M | ||
| Q1 24 | $24.5M | $611.0K |
自由现金流COURFORR
| Q4 25 | $5.4M | $-4.3M | ||
| Q3 25 | $33.7M | $524.0K | ||
| Q2 25 | $35.1M | $-4.2M | ||
| Q1 25 | $33.0M | $26.1M | ||
| Q4 24 | $18.1M | $-2.5M | ||
| Q3 24 | $27.7M | $-223.0K | ||
| Q2 24 | $23.6M | $-3.7M | ||
| Q1 24 | $24.4M | $-815.0K |
自由现金流率COURFORR
| Q4 25 | 2.7% | -4.2% | ||
| Q3 25 | 17.4% | 0.6% | ||
| Q2 25 | 18.8% | -3.8% | ||
| Q1 25 | 18.4% | 29.0% | ||
| Q4 24 | 10.1% | -2.3% | ||
| Q3 24 | 15.7% | -0.2% | ||
| Q2 24 | 13.9% | -3.1% | ||
| Q1 24 | 14.4% | -0.8% |
资本支出强度COURFORR
| Q4 25 | 0.2% | 1.1% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.2% | 0.5% | ||
| Q1 25 | 0.3% | 0.7% | ||
| Q4 24 | 0.6% | 0.6% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.1% | 0.7% | ||
| Q1 24 | 0.1% | 1.4% |
现金转化率COURFORR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | — | — | ||
| 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
COUR
| Consumer Segment | $131.5M | 67% |
| Enterprise Segment | $65.4M | 33% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
