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弗雷斯特研究公司（FORR）与Fastly, Inc.（FSLY）财务数据对比。点击上方公司名可切换其他公司
Fastly, Inc.的季度营收约是弗雷斯特研究公司的1.7倍（$173.0M vs $101.1M），Fastly, Inc.净利率更高（-11.9% vs -33.5%，领先21.7%），Fastly, Inc.同比增速更快（19.8% vs -6.5%），Fastly, Inc.自由现金流更多（$4.1M vs $-4.3M），过去两年Fastly, Inc.的营收复合增速更高（14.3% vs 0.5%）
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。
Fastly是总部位于美国旧金山的云计算服务商，主营内容分发网络（CDN）、图片优化、负载均衡服务，同时提供DDoS攻击防护、机器人流量治理、Web应用防火墙等云安全解决方案，助力企业提升网络访问效率与安全防护能力。
FORR vs FSLY — 直观对比
营收规模更大
FSLY
是对方的1.7倍
$101.1M
营收增速更快
FSLY
高出26.2%
-6.5%
净利率更高
FSLY
高出21.7%
-33.5%
自由现金流更多
FSLY
多$8.4M
$-4.3M
两年增速更快
FSLY
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $173.0M |
| 净利润 | $-33.9M | $-20.5M |
| 毛利率 | 56.7% | 62.5% |
| 营业利润率 | -36.6% | 23.7% |
| 净利率 | -33.5% | -11.9% |
| 营收同比 | -6.5% | 19.8% |
| 净利润同比 | -7941.4% | 47.6% |
| 每股收益（稀释后） | $-1.75 | $-0.13 |
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FORRFSLY
| Q1 26 | — | $173.0M | ||
| Q4 25 | $101.1M | $172.6M | ||
| Q3 25 | $94.3M | $158.2M | ||
| Q2 25 | $111.7M | $148.7M | ||
| Q1 25 | $89.9M | $144.5M | ||
| Q4 24 | $108.0M | $140.6M | ||
| Q3 24 | $102.5M | $137.2M | ||
| Q2 24 | $121.8M | $132.4M |
净利润FORRFSLY
| Q1 26 | — | $-20.5M | ||
| Q4 25 | $-33.9M | $-15.5M | ||
| Q3 25 | $-2.1M | $-29.5M | ||
| Q2 25 | $3.9M | $-37.5M | ||
| Q1 25 | $-87.3M | $-39.1M | ||
| Q4 24 | $432.0K | $-32.9M | ||
| Q3 24 | $-5.8M | $-38.0M | ||
| Q2 24 | $6.3M | $-43.7M |
毛利率FORRFSLY
| Q1 26 | — | 62.5% | ||
| Q4 25 | 56.7% | 61.4% | ||
| Q3 25 | 60.0% | 58.4% | ||
| Q2 25 | 55.5% | 54.5% | ||
| Q1 25 | 55.9% | 53.2% | ||
| Q4 24 | 58.8% | 53.4% | ||
| Q3 24 | 60.5% | 54.5% | ||
| Q2 24 | 57.3% | 55.1% |
营业利润率FORRFSLY
| Q1 26 | — | 23.7% | ||
| Q4 25 | -36.6% | -8.7% | ||
| Q3 25 | 4.7% | -18.2% | ||
| Q2 25 | 6.2% | -24.8% | ||
| Q1 25 | -97.5% | -26.4% | ||
| Q4 24 | -0.5% | -24.4% | ||
| Q3 24 | -0.7% | -29.6% | ||
| Q2 24 | 9.3% | -35.3% |
净利率FORRFSLY
| Q1 26 | — | -11.9% | ||
| Q4 25 | -33.5% | -9.0% | ||
| Q3 25 | -2.3% | -18.6% | ||
| Q2 25 | 3.5% | -25.2% | ||
| Q1 25 | -97.1% | -27.1% | ||
| Q4 24 | 0.4% | -23.4% | ||
| Q3 24 | -5.7% | -27.7% | ||
| Q2 24 | 5.2% | -33.0% |
每股收益（稀释后）FORRFSLY
| Q1 26 | — | $-0.13 | ||
| Q4 25 | $-1.75 | $-0.10 | ||
| Q3 25 | $-0.11 | $-0.20 | ||
| Q2 25 | $0.20 | $-0.26 | ||
| Q1 25 | $-4.62 | $-0.27 | ||
| Q4 24 | $0.02 | $-0.23 | ||
| Q3 24 | $-0.30 | $-0.27 | ||
| Q2 24 | $0.33 | $-0.32 |
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 | $63.3M | $146.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $977.1M |
| 总资产 | $404.0M | $1.5B |
| 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FORRFSLY
| Q1 26 | — | $146.7M | ||
| Q4 25 | $63.3M | $361.8M | ||
| Q3 25 | $65.1M | $342.9M | ||
| Q2 25 | $67.8M | $321.2M | ||
| Q1 25 | $75.6M | $307.3M | ||
| Q4 24 | $56.1M | $295.9M | ||
| Q3 24 | $62.8M | $308.2M | ||
| Q2 24 | $58.9M | $311.8M |
股东权益FORRFSLY
| Q1 26 | — | $977.1M | ||
| Q4 25 | $126.5M | $929.6M | ||
| Q3 25 | $157.7M | $937.0M | ||
| Q2 25 | $159.5M | $942.6M | ||
| Q1 25 | $147.4M | $957.0M | ||
| Q4 24 | $229.5M | $965.3M | ||
| Q3 24 | $234.3M | $969.5M | ||
| Q2 24 | $237.1M | $981.2M |
总资产FORRFSLY
| Q1 26 | — | $1.5B | ||
| Q4 25 | $404.0M | $1.5B | ||
| Q3 25 | $414.2M | $1.5B | ||
| Q2 25 | $436.0M | $1.5B | ||
| Q1 25 | $439.8M | $1.4B | ||
| Q4 24 | $503.9M | $1.5B | ||
| Q3 24 | $505.3M | $1.5B | ||
| Q2 24 | $524.2M | $1.5B |
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 | $-3.2M | $28.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $4.1M |
| 自由现金流率自由现金流/营收 | -4.2% | 2.4% |
| 资本支出强度资本支出/营收 | 1.1% | 14.3% |
| 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 | $18.1M | $55.2M |
8季度趋势，按日历期对齐
经营现金流FORRFSLY
| Q1 26 | — | $28.9M | ||
| Q4 25 | $-3.2M | $22.4M | ||
| Q3 25 | $1.2M | $28.9M | ||
| Q2 25 | $-3.6M | $25.8M | ||
| Q1 25 | $26.7M | $17.3M | ||
| Q4 24 | $-1.8M | $5.2M | ||
| Q3 24 | $264.0K | $5.0M | ||
| Q2 24 | $-2.9M | $-4.9M |
自由现金流FORRFSLY
| Q1 26 | — | $4.1M | ||
| Q4 25 | $-4.3M | $12.2M | ||
| Q3 25 | $524.0K | $22.9M | ||
| Q2 25 | $-4.2M | $15.9M | ||
| Q1 25 | $26.1M | $14.7M | ||
| Q4 24 | $-2.5M | $251.0K | ||
| Q3 24 | $-223.0K | $3.0M | ||
| Q2 24 | $-3.7M | $-6.7M |
自由现金流率FORRFSLY
| Q1 26 | — | 2.4% | ||
| Q4 25 | -4.2% | 7.1% | ||
| Q3 25 | 0.6% | 14.5% | ||
| Q2 25 | -3.8% | 10.7% | ||
| Q1 25 | 29.0% | 10.2% | ||
| Q4 24 | -2.3% | 0.2% | ||
| Q3 24 | -0.2% | 2.2% | ||
| Q2 24 | -3.1% | -5.1% |
资本支出强度FORRFSLY
| Q1 26 | — | 14.3% | ||
| Q4 25 | 1.1% | 5.9% | ||
| Q3 25 | 0.7% | 3.8% | ||
| Q2 25 | 0.5% | 6.6% | ||
| Q1 25 | 0.7% | 1.8% | ||
| Q4 24 | 0.6% | 3.5% | ||
| Q3 24 | 0.5% | 1.5% | ||
| Q2 24 | 0.7% | 1.3% |
现金转化率FORRFSLY
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | — |
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
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
FSLY
| Network Services | $126.2M | 73% |
| Security | $38.8M | 22% |
| Other | $8.0M | 5% |
