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弗雷斯特研究公司（FORR）与Globalstar, Inc.（GSAT）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Globalstar, Inc.的1.4倍（$101.1M vs $72.0M），Globalstar, Inc.净利率更高（-16.1% vs -33.5%，领先17.4%），Globalstar, Inc.同比增速更快（17.6% vs -6.5%），过去两年Globalstar, Inc.的营收复合增速更高（12.9% 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。
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
FORR vs GSAT — 直观对比
营收规模更大
FORR
是对方的1.4倍
$72.0M
营收增速更快
GSAT
高出24.1%
-6.5%
净利率更高
GSAT
高出17.4%
-33.5%
两年增速更快
GSAT
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $72.0M |
| 净利润 | $-33.9M | $-11.6M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | -0.5% |
| 净利率 | -33.5% | -16.1% |
| 营收同比 | -6.5% | 17.6% |
| 净利润同比 | -7941.4% | 76.9% |
| 每股收益（稀释后） | $-1.75 | $-0.11 |
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FORRGSAT
| Q4 25 | $101.1M | $72.0M | ||
| Q3 25 | $94.3M | $73.8M | ||
| Q2 25 | $111.7M | $67.1M | ||
| Q1 25 | $89.9M | $60.0M | ||
| Q4 24 | $108.0M | $61.2M | ||
| Q3 24 | $102.5M | $72.3M | ||
| Q2 24 | $121.8M | $60.4M | ||
| Q1 24 | $100.1M | $56.5M |
净利润FORRGSAT
| Q4 25 | $-33.9M | $-11.6M | ||
| Q3 25 | $-2.1M | $1.1M | ||
| Q2 25 | $3.9M | $19.2M | ||
| Q1 25 | $-87.3M | $-17.3M | ||
| Q4 24 | $432.0K | $-50.2M | ||
| Q3 24 | $-5.8M | $9.9M | ||
| Q2 24 | $6.3M | $-9.7M | ||
| Q1 24 | $-6.7M | $-13.2M |
毛利率FORRGSAT
| 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FORRGSAT
| Q4 25 | -36.6% | -0.5% | ||
| Q3 25 | 4.7% | 13.8% | ||
| Q2 25 | 6.2% | 9.2% | ||
| Q1 25 | -97.5% | -14.2% | ||
| Q4 24 | -0.5% | -6.9% | ||
| Q3 24 | -0.7% | 13.0% | ||
| Q2 24 | 9.3% | -2.4% | ||
| Q1 24 | -9.3% | -8.3% |
净利率FORRGSAT
| Q4 25 | -33.5% | -16.1% | ||
| Q3 25 | -2.3% | 1.5% | ||
| Q2 25 | 3.5% | 28.6% | ||
| Q1 25 | -97.1% | -28.9% | ||
| Q4 24 | 0.4% | -82.1% | ||
| Q3 24 | -5.7% | 13.7% | ||
| Q2 24 | 5.2% | -16.0% | ||
| Q1 24 | -6.7% | -23.4% |
每股收益（稀释后）FORRGSAT
| Q4 25 | $-1.75 | $-0.11 | ||
| Q3 25 | $-0.11 | $-0.01 | ||
| Q2 25 | $0.20 | $0.13 | ||
| Q1 25 | $-4.62 | $-0.16 | ||
| Q4 24 | $0.02 | $-0.57 | ||
| Q3 24 | $-0.30 | $0.00 | ||
| Q2 24 | $0.33 | $-0.01 | ||
| Q1 24 | $-0.35 | $-0.01 |
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 | $447.5M |
| 总债务越低越好 | — | $483.8M |
| 股东权益账面价值 | $126.5M | $355.7M |
| 总资产 | $404.0M | $2.3B |
| 负债/权益比越低杠杆越低 | — | 1.36× |
8季度趋势，按日历期对齐
现金及短期投资FORRGSAT
| Q4 25 | $63.3M | $447.5M | ||
| Q3 25 | $65.1M | $346.3M | ||
| Q2 25 | $67.8M | $308.2M | ||
| Q1 25 | $75.6M | $241.4M | ||
| Q4 24 | $56.1M | $391.2M | ||
| Q3 24 | $62.8M | $51.9M | ||
| Q2 24 | $58.9M | $64.3M | ||
| Q1 24 | $61.4M | $59.3M |
总债务FORRGSAT
| Q4 25 | — | $483.8M | ||
| Q3 25 | — | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
股东权益FORRGSAT
| Q4 25 | $126.5M | $355.7M | ||
| Q3 25 | $157.7M | $364.8M | ||
| Q2 25 | $159.5M | $360.9M | ||
| Q1 25 | $147.4M | $344.3M | ||
| Q4 24 | $229.5M | $358.9M | ||
| Q3 24 | $234.3M | $394.1M | ||
| Q2 24 | $237.1M | $383.0M | ||
| Q1 24 | $230.9M | $377.1M |
总资产FORRGSAT
| Q4 25 | $404.0M | $2.3B | ||
| Q3 25 | $414.2M | $2.2B | ||
| Q2 25 | $436.0M | $1.9B | ||
| Q1 25 | $439.8M | $1.7B | ||
| Q4 24 | $503.9M | $1.7B | ||
| Q3 24 | $505.3M | $917.6M | ||
| Q2 24 | $524.2M | $926.2M | ||
| Q1 24 | $555.7M | $917.0M |
负债/权益比FORRGSAT
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $175.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | — |
| 自由现金流率自由现金流/营收 | -4.2% | — |
| 资本支出强度资本支出/营收 | 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 | $18.1M | — |
8季度趋势，按日历期对齐
经营现金流FORRGSAT
| Q4 25 | $-3.2M | $175.9M | ||
| Q3 25 | $1.2M | $236.0M | ||
| Q2 25 | $-3.6M | $157.9M | ||
| Q1 25 | $26.7M | $51.9M | ||
| Q4 24 | $-1.8M | $340.7M | ||
| Q3 24 | $264.0K | $32.0M | ||
| Q2 24 | $-2.9M | $36.7M | ||
| Q1 24 | $611.0K | $29.8M |
自由现金流FORRGSAT
| Q4 25 | $-4.3M | — | ||
| Q3 25 | $524.0K | — | ||
| Q2 25 | $-4.2M | — | ||
| Q1 25 | $26.1M | — | ||
| Q4 24 | $-2.5M | — | ||
| Q3 24 | $-223.0K | — | ||
| Q2 24 | $-3.7M | — | ||
| Q1 24 | $-815.0K | — |
自由现金流率FORRGSAT
| Q4 25 | -4.2% | — | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | -3.8% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | -2.3% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | -3.1% | — | ||
| Q1 24 | -0.8% | — |
资本支出强度FORRGSAT
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 1.4% | — |
现金转化率FORRGSAT
| Q4 25 | — | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | -0.93× | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 3.23× | ||
| 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
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
