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弗雷斯特研究公司（FORR）与i3 Verticals, Inc.（IIIV）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i3 Verticals, Inc.的1.9倍（$101.1M vs $52.7M），i3 Verticals, Inc.净利率更高（0.9% vs -33.5%，领先34.4%），弗雷斯特研究公司同比增速更快（-6.5% vs -14.6%），i3 Verticals, Inc.自由现金流更多（$13.8M 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 -4.7%）
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。
Prusa i3是捷克Prusa Research公司生产的熔融沉积成型3D打印机系列，以Original Prusa i3为注册商标推出，同时也是RepRap项目的组成部分。2016年该系列就被评为全球使用率最高的3D打印机，最早由Josef Průša在2012年完成设计，2015年正式推出商用套件版本，目前最新型号同时提供散件套件和原厂组装版本，具备性价比高、易操作的优势。
FORR vs IIIV — 直观对比
营收规模更大
FORR
是对方的1.9倍
$52.7M
营收增速更快
FORR
高出8.2%
-14.6%
净利率更高
IIIV
高出34.4%
-33.5%
自由现金流更多
IIIV
多$18.1M
$-4.3M
两年增速更快
FORR
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $52.7M |
| 净利润 | $-33.9M | $484.0K |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | 3.1% |
| 净利率 | -33.5% | 0.9% |
| 营收同比 | -6.5% | -14.6% |
| 净利润同比 | -7941.4% | -76.5% |
| 每股收益（稀释后） | $-1.75 | $0.02 |
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FORRIIIV
| Q4 25 | $101.1M | $52.7M | ||
| Q3 25 | $94.3M | $46.0M | ||
| Q2 25 | $111.7M | $51.9M | ||
| Q1 25 | $89.9M | $63.1M | ||
| Q4 24 | $108.0M | $52.2M | ||
| Q3 24 | $102.5M | $32.0M | ||
| Q2 24 | $121.8M | $46.2M | ||
| Q1 24 | $100.1M | $58.0M |
净利润FORRIIIV
| Q4 25 | $-33.9M | $484.0K | ||
| Q3 25 | $-2.1M | $3.1M | ||
| Q2 25 | $3.9M | $12.9M | ||
| Q1 25 | $-87.3M | $-154.0K | ||
| Q4 24 | $432.0K | $2.1M | ||
| Q3 24 | $-5.8M | $117.9M | ||
| Q2 24 | $6.3M | $-7.5M | ||
| Q1 24 | $-6.7M | $1.9M |
毛利率FORRIIIV
| 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FORRIIIV
| Q4 25 | -36.6% | 3.1% | ||
| Q3 25 | 4.7% | 3.2% | ||
| Q2 25 | 6.2% | -9.3% | ||
| Q1 25 | -97.5% | 8.0% | ||
| Q4 24 | -0.5% | 3.9% | ||
| Q3 24 | -0.7% | 10.6% | ||
| Q2 24 | 9.3% | -2.8% | ||
| Q1 24 | -9.3% | 3.4% |
净利率FORRIIIV
| Q4 25 | -33.5% | 0.9% | ||
| Q3 25 | -2.3% | 6.7% | ||
| Q2 25 | 3.5% | 24.8% | ||
| Q1 25 | -97.1% | -0.2% | ||
| Q4 24 | 0.4% | 3.9% | ||
| Q3 24 | -5.7% | 368.2% | ||
| Q2 24 | 5.2% | -16.3% | ||
| Q1 24 | -6.7% | 3.2% |
每股收益（稀释后）FORRIIIV
| Q4 25 | $-1.75 | $0.02 | ||
| Q3 25 | $-0.11 | $0.14 | ||
| Q2 25 | $0.20 | $0.50 | ||
| Q1 25 | $-4.62 | $0.00 | ||
| Q4 24 | $0.02 | $0.08 | ||
| Q3 24 | $-0.30 | $4.93 | ||
| Q2 24 | $0.33 | $-0.32 | ||
| Q1 24 | $-0.35 | $0.08 |
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 | $37.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $358.5M |
| 总资产 | $404.0M | $595.9M |
| 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FORRIIIV
| Q4 25 | $63.3M | $37.5M | ||
| Q3 25 | $65.1M | $66.7M | ||
| Q2 25 | $67.8M | $55.5M | ||
| Q1 25 | $75.6M | $7.7M | ||
| Q4 24 | $56.1M | $85.6M | ||
| Q3 24 | $62.8M | $86.5M | ||
| Q2 24 | $58.9M | $9.7M | ||
| Q1 24 | $61.4M | $3.1M |
总债务FORRIIIV
| Q4 25 | — | — | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $12.0M | ||
| Q4 24 | — | $26.2M | ||
| Q3 24 | — | $26.2M | ||
| Q2 24 | — | $374.1M | ||
| Q1 24 | — | $369.6M |
股东权益FORRIIIV
| Q4 25 | $126.5M | $358.5M | ||
| Q3 25 | $157.7M | $389.6M | ||
| Q2 25 | $159.5M | $383.3M | ||
| Q1 25 | $147.4M | $385.2M | ||
| Q4 24 | $229.5M | $375.0M | ||
| Q3 24 | $234.3M | $379.7M | ||
| Q2 24 | $237.1M | $249.7M | ||
| Q1 24 | $230.9M | $249.3M |
总资产FORRIIIV
| Q4 25 | $404.0M | $595.9M | ||
| Q3 25 | $414.2M | $638.4M | ||
| Q2 25 | $436.0M | $623.3M | ||
| Q1 25 | $439.8M | $646.4M | ||
| Q4 24 | $503.9M | $726.2M | ||
| Q3 24 | $505.3M | $730.7M | ||
| Q2 24 | $524.2M | $861.7M | ||
| Q1 24 | $555.7M | $625.8M |
负债/权益比FORRIIIV
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.07× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 1.50× | ||
| Q1 24 | — | 1.48× |
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 | $14.1M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $13.8M |
| 自由现金流率自由现金流/营收 | -4.2% | 26.2% |
| 资本支出强度资本支出/营收 | 1.1% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 29.18× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $6.5M |
8季度趋势，按日历期对齐
经营现金流FORRIIIV
| Q4 25 | $-3.2M | $14.1M | ||
| Q3 25 | $1.2M | $14.0M | ||
| Q2 25 | $-3.6M | $7.4M | ||
| Q1 25 | $26.7M | $-27.1M | ||
| Q4 24 | $-1.8M | $11.5M | ||
| Q3 24 | $264.0K | $15.1M | ||
| Q2 24 | $-2.9M | $8.1M | ||
| Q1 24 | $611.0K | $10.7M |
自由现金流FORRIIIV
| Q4 25 | $-4.3M | $13.8M | ||
| Q3 25 | $524.0K | $13.5M | ||
| Q2 25 | $-4.2M | $6.8M | ||
| Q1 25 | $26.1M | $-27.6M | ||
| Q4 24 | $-2.5M | $11.0M | ||
| Q3 24 | $-223.0K | $14.6M | ||
| Q2 24 | $-3.7M | $7.2M | ||
| Q1 24 | $-815.0K | $9.9M |
自由现金流率FORRIIIV
| Q4 25 | -4.2% | 26.2% | ||
| Q3 25 | 0.6% | 29.5% | ||
| Q2 25 | -3.8% | 13.1% | ||
| Q1 25 | 29.0% | -43.8% | ||
| Q4 24 | -2.3% | 21.1% | ||
| Q3 24 | -0.2% | 45.6% | ||
| Q2 24 | -3.1% | 15.6% | ||
| Q1 24 | -0.8% | 17.1% |
资本支出强度FORRIIIV
| Q4 25 | 1.1% | 0.6% | ||
| Q3 25 | 0.7% | 0.9% | ||
| Q2 25 | 0.5% | 1.0% | ||
| Q1 25 | 0.7% | 0.8% | ||
| Q4 24 | 0.6% | 0.9% | ||
| Q3 24 | 0.5% | 1.7% | ||
| Q2 24 | 0.7% | 1.9% | ||
| Q1 24 | 1.4% | 1.4% |
现金转化率FORRIIIV
| Q4 25 | — | 29.18× | ||
| Q3 25 | — | 4.52× | ||
| Q2 25 | -0.93× | 0.57× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 5.59× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | 5.72× |
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% |
IIIV
| License And Service | $35.7M | 68% |
| Proprietary Payments Revenue | $14.5M | 27% |
| Other Revenue | $2.5M | 5% |
