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弗雷斯特研究公司（FORR）与IMAX（IMAX）财务数据对比。点击上方公司名可切换其他公司
IMAX的季度营收约是弗雷斯特研究公司的1.2倍（$125.2M vs $101.1M），IMAX净利率更高（0.5% vs -33.5%，领先34.0%），IMAX同比增速更快（35.1% vs -6.5%），IMAX自由现金流更多（$28.0M vs $-4.3M），过去两年IMAX的营收复合增速更高（25.8% 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。
IMAX公司是加拿大的影视放映技术企业，1967年创立于蒙特利尔，总部位于多伦多地区，在纽约、洛杉矶均设有业务点。核心业务包括IMAX摄影机与放映系统的设计制造，同时面向全球合作影院提供影片开发、制作、后期及发行服务，是沉浸式观影技术领域的领先企业。
FORR vs IMAX — 直观对比
营收规模更大
IMAX
是对方的1.2倍
$101.1M
营收增速更快
IMAX
高出41.6%
-6.5%
净利率更高
IMAX
高出34.0%
-33.5%
自由现金流更多
IMAX
多$32.2M
$-4.3M
两年增速更快
IMAX
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $125.2M |
| 净利润 | $-33.9M | $637.0K |
| 毛利率 | 56.7% | 57.6% |
| 营业利润率 | -36.6% | 19.3% |
| 净利率 | -33.5% | 0.5% |
| 营收同比 | -6.5% | 35.1% |
| 净利润同比 | -7941.4% | -88.0% |
| 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FORRIMAX
| Q4 25 | $101.1M | $125.2M | ||
| Q3 25 | $94.3M | $106.7M | ||
| Q2 25 | $111.7M | $91.7M | ||
| Q1 25 | $89.9M | $86.7M | ||
| Q4 24 | $108.0M | $92.7M | ||
| Q3 24 | $102.5M | $91.5M | ||
| Q2 24 | $121.8M | $89.0M | ||
| Q1 24 | $100.1M | $79.1M |
净利润FORRIMAX
| Q4 25 | $-33.9M | $637.0K | ||
| Q3 25 | $-2.1M | $20.7M | ||
| Q2 25 | $3.9M | $11.3M | ||
| Q1 25 | $-87.3M | $2.3M | ||
| Q4 24 | $432.0K | $5.3M | ||
| Q3 24 | $-5.8M | $13.9M | ||
| Q2 24 | $6.3M | $3.6M | ||
| Q1 24 | $-6.7M | $3.3M |
毛利率FORRIMAX
| Q4 25 | 56.7% | 57.6% | ||
| Q3 25 | 60.0% | 63.1% | ||
| Q2 25 | 55.5% | 58.5% | ||
| Q1 25 | 55.9% | 61.4% | ||
| Q4 24 | 58.8% | 52.2% | ||
| Q3 24 | 60.5% | 55.8% | ||
| Q2 24 | 57.3% | 49.4% | ||
| Q1 24 | 54.9% | 59.3% |
营业利润率FORRIMAX
| Q4 25 | -36.6% | 19.3% | ||
| Q3 25 | 4.7% | 27.2% | ||
| Q2 25 | 6.2% | 15.6% | ||
| Q1 25 | -97.5% | 19.3% | ||
| Q4 24 | -0.5% | 10.3% | ||
| Q3 24 | -0.7% | 21.2% | ||
| Q2 24 | 9.3% | 3.2% | ||
| Q1 24 | -9.3% | 15.3% |
净利率FORRIMAX
| Q4 25 | -33.5% | 0.5% | ||
| Q3 25 | -2.3% | 19.4% | ||
| Q2 25 | 3.5% | 12.3% | ||
| Q1 25 | -97.1% | 2.7% | ||
| Q4 24 | 0.4% | 5.7% | ||
| Q3 24 | -5.7% | 15.2% | ||
| Q2 24 | 5.2% | 4.0% | ||
| Q1 24 | -6.7% | 4.1% |
每股收益（稀释后）FORRIMAX
| Q4 25 | $-1.75 | $0.02 | ||
| Q3 25 | $-0.11 | $0.37 | ||
| Q2 25 | $0.20 | $0.20 | ||
| Q1 25 | $-4.62 | $0.04 | ||
| Q4 24 | $0.02 | $0.09 | ||
| Q3 24 | $-0.30 | $0.26 | ||
| Q2 24 | $0.33 | $0.07 | ||
| Q1 24 | $-0.35 | $0.06 |
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 | $151.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $337.9M |
| 总资产 | $404.0M | $894.0M |
| 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FORRIMAX
| Q4 25 | $63.3M | $151.2M | ||
| Q3 25 | $65.1M | $143.1M | ||
| Q2 25 | $67.8M | $109.3M | ||
| Q1 25 | $75.6M | $97.1M | ||
| Q4 24 | $56.1M | $100.6M | ||
| Q3 24 | $62.8M | $104.5M | ||
| Q2 24 | $58.9M | $91.6M | ||
| Q1 24 | $61.4M | $81.0M |
股东权益FORRIMAX
| Q4 25 | $126.5M | $337.9M | ||
| Q3 25 | $157.7M | $349.5M | ||
| Q2 25 | $159.5M | $320.4M | ||
| Q1 25 | $147.4M | $299.5M | ||
| Q4 24 | $229.5M | $299.5M | ||
| Q3 24 | $234.3M | $289.4M | ||
| Q2 24 | $237.1M | $267.2M | ||
| Q1 24 | $230.9M | $258.8M |
总资产FORRIMAX
| Q4 25 | $404.0M | $894.0M | ||
| Q3 25 | $414.2M | $889.6M | ||
| Q2 25 | $436.0M | $868.6M | ||
| Q1 25 | $439.8M | $848.3M | ||
| Q4 24 | $503.9M | $830.4M | ||
| Q3 24 | $505.3M | $847.6M | ||
| Q2 24 | $524.2M | $827.4M | ||
| Q1 24 | $555.7M | $824.1M |
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 | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $28.0M |
| 自由现金流率自由现金流/营收 | -4.2% | 22.3% |
| 资本支出强度资本支出/营收 | 1.1% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 46.11× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $118.9M |
8季度趋势，按日历期对齐
经营现金流FORRIMAX
| Q4 25 | $-3.2M | $29.4M | ||
| Q3 25 | $1.2M | $67.5M | ||
| Q2 25 | $-3.6M | $23.2M | ||
| Q1 25 | $26.7M | $7.0M | ||
| Q4 24 | $-1.8M | $11.5M | ||
| Q3 24 | $264.0K | $35.3M | ||
| Q2 24 | $-2.9M | $35.0M | ||
| Q1 24 | $611.0K | $-11.0M |
自由现金流FORRIMAX
| Q4 25 | $-4.3M | $28.0M | ||
| Q3 25 | $524.0K | $64.8M | ||
| Q2 25 | $-4.2M | $20.9M | ||
| Q1 25 | $26.1M | $5.3M | ||
| Q4 24 | $-2.5M | $6.9M | ||
| Q3 24 | $-223.0K | $34.2M | ||
| Q2 24 | $-3.7M | $33.5M | ||
| Q1 24 | $-815.0K | $-12.1M |
自由现金流率FORRIMAX
| Q4 25 | -4.2% | 22.3% | ||
| Q3 25 | 0.6% | 60.7% | ||
| Q2 25 | -3.8% | 22.8% | ||
| Q1 25 | 29.0% | 6.1% | ||
| Q4 24 | -2.3% | 7.4% | ||
| Q3 24 | -0.2% | 37.3% | ||
| Q2 24 | -3.1% | 37.6% | ||
| Q1 24 | -0.8% | -15.3% |
资本支出强度FORRIMAX
| Q4 25 | 1.1% | 1.1% | ||
| Q3 25 | 0.7% | 2.6% | ||
| Q2 25 | 0.5% | 2.6% | ||
| Q1 25 | 0.7% | 1.9% | ||
| Q4 24 | 0.6% | 5.0% | ||
| Q3 24 | 0.5% | 1.2% | ||
| Q2 24 | 0.7% | 1.8% | ||
| Q1 24 | 1.4% | 1.4% |
现金转化率FORRIMAX
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | -0.93× | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | -4.24× | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | -0.46× | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
