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弗雷斯特研究公司（FORR）与iQSTEL Inc（IQST）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iQSTEL Inc的1.2倍（$101.1M vs $84.2M），iQSTEL Inc净利率更高（-3.2% vs -33.5%，领先30.3%），弗雷斯特研究公司同比增速更快（-6.5% vs -14.9%），iQSTEL Inc自由现金流更多（$-1.2M vs $-4.3M），过去两年iQSTEL Inc的营收复合增速更高（28.0% 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。
iQSTEL Inc是一家科技控股企业，业务覆盖电信、物联网与金融科技三大核心领域，面向南北美洲市场的中小企业及零售用户提供高性价比的通信服务、智能物联网监测解决方案及数字化金融工具。
FORR vs IQST — 直观对比
营收规模更大
FORR
是对方的1.2倍
$84.2M
营收增速更快
FORR
高出8.4%
-14.9%
净利率更高
IQST
高出30.3%
-33.5%
自由现金流更多
IQST
多$3.0M
$-4.3M
两年增速更快
IQST
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $84.2M |
| 净利润 | $-33.9M | $-2.7M |
| 毛利率 | 56.7% | 3.5% |
| 营业利润率 | -36.6% | -2.9% |
| 净利率 | -33.5% | -3.2% |
| 营收同比 | -6.5% | -14.9% |
| 净利润同比 | -7941.4% | -44.5% |
| 每股收益（稀释后） | $-1.75 | $-0.92 |
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FORRIQST
| Q4 25 | $101.1M | $84.2M | ||
| Q3 25 | $94.3M | $102.9M | ||
| Q2 25 | $111.7M | $72.2M | ||
| Q1 25 | $89.9M | $57.6M | ||
| Q4 24 | $108.0M | $98.9M | ||
| Q3 24 | $102.5M | $54.2M | ||
| Q2 24 | $121.8M | $78.6M | ||
| Q1 24 | $100.1M | $51.4M |
净利润FORRIQST
| Q4 25 | $-33.9M | $-2.7M | ||
| Q3 25 | $-2.1M | $-2.3M | ||
| Q2 25 | $3.9M | $-2.3M | ||
| Q1 25 | $-87.3M | $-1.1M | ||
| Q4 24 | $432.0K | $-1.9M | ||
| Q3 24 | $-5.8M | $-773.0K | ||
| Q2 24 | $6.3M | $-2.0M | ||
| Q1 24 | $-6.7M | $-580.2K |
毛利率FORRIQST
| Q4 25 | 56.7% | 3.5% | ||
| Q3 25 | 60.0% | 2.7% | ||
| Q2 25 | 55.5% | 2.6% | ||
| Q1 25 | 55.9% | 3.4% | ||
| Q4 24 | 58.8% | 2.7% | ||
| Q3 24 | 60.5% | 3.7% | ||
| Q2 24 | 57.3% | 2.8% | ||
| Q1 24 | 54.9% | 2.7% |
营业利润率FORRIQST
| Q4 25 | -36.6% | -2.9% | ||
| Q3 25 | 4.7% | -0.5% | ||
| Q2 25 | 6.2% | -0.9% | ||
| Q1 25 | -97.5% | -1.0% | ||
| Q4 24 | -0.5% | -0.3% | ||
| Q3 24 | -0.7% | -0.1% | ||
| Q2 24 | 9.3% | -0.4% | ||
| Q1 24 | -9.3% | -0.4% |
净利率FORRIQST
| Q4 25 | -33.5% | -3.2% | ||
| Q3 25 | -2.3% | -2.3% | ||
| Q2 25 | 3.5% | -3.3% | ||
| Q1 25 | -97.1% | -2.0% | ||
| Q4 24 | 0.4% | -1.9% | ||
| Q3 24 | -5.7% | -1.4% | ||
| Q2 24 | 5.2% | -2.5% | ||
| Q1 24 | -6.7% | -1.1% |
每股收益（稀释后）FORRIQST
| Q4 25 | $-1.75 | $-0.92 | ||
| Q3 25 | $-0.11 | $-0.68 | ||
| Q2 25 | $0.20 | $-0.82 | ||
| Q1 25 | $-4.62 | $-0.44 | ||
| Q4 24 | $0.02 | $-1.19 | ||
| Q3 24 | $-0.30 | $-0.40 | ||
| Q2 24 | $0.33 | $-0.90 | ||
| Q1 24 | $-0.35 | $-0.37 |
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 | $2.2M |
| 总债务越低越好 | — | $4.1M |
| 股东权益账面价值 | $126.5M | $16.3M |
| 总资产 | $404.0M | $51.1M |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资FORRIQST
| Q4 25 | $63.3M | $2.2M | ||
| Q3 25 | $65.1M | $2.3M | ||
| Q2 25 | $67.8M | $2.0M | ||
| Q1 25 | $75.6M | $1.1M | ||
| Q4 24 | $56.1M | $2.5M | ||
| Q3 24 | $62.8M | $2.1M | ||
| Q2 24 | $58.9M | $797.2K | ||
| Q1 24 | $61.4M | $2.7M |
总债务FORRIQST
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
股东权益FORRIQST
| Q4 25 | $126.5M | $16.3M | ||
| Q3 25 | $157.7M | $17.9M | ||
| Q2 25 | $159.5M | $14.3M | ||
| Q1 25 | $147.4M | $11.6M | ||
| Q4 24 | $229.5M | $11.9M | ||
| Q3 24 | $234.3M | $8.1M | ||
| Q2 24 | $237.1M | $7.6M | ||
| Q1 24 | $230.9M | $8.4M |
总资产FORRIQST
| Q4 25 | $404.0M | $51.1M | ||
| Q3 25 | $414.2M | $46.9M | ||
| Q2 25 | $436.0M | $51.4M | ||
| Q1 25 | $439.8M | $42.0M | ||
| Q4 24 | $503.9M | $79.0M | ||
| Q3 24 | $505.3M | $32.4M | ||
| Q2 24 | $524.2M | $30.0M | ||
| Q1 24 | $555.7M | $22.1M |
负债/权益比FORRIQST
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-1.2M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $-1.2M |
| 自由现金流率自由现金流/营收 | -4.2% | -1.5% |
| 资本支出强度资本支出/营收 | 1.1% | 0.0% |
| 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 | $-4.0M |
8季度趋势，按日历期对齐
经营现金流FORRIQST
| Q4 25 | $-3.2M | $-1.2M | ||
| Q3 25 | $1.2M | $-953.0K | ||
| Q2 25 | $-3.6M | $257.7K | ||
| Q1 25 | $26.7M | $-1.9M | ||
| Q4 24 | $-1.8M | $-403.7K | ||
| Q3 24 | $264.0K | $625.0K | ||
| Q2 24 | $-2.9M | $-2.6M | ||
| Q1 24 | $611.0K | $-536.9K |
自由现金流FORRIQST
| Q4 25 | $-4.3M | $-1.2M | ||
| Q3 25 | $524.0K | $-969.2K | ||
| Q2 25 | $-4.2M | $211.7K | ||
| Q1 25 | $26.1M | $-2.0M | ||
| Q4 24 | $-2.5M | $-421.3K | ||
| Q3 24 | $-223.0K | $594.5K | ||
| Q2 24 | $-3.7M | $-2.6M | ||
| Q1 24 | $-815.0K | $-608.5K |
自由现金流率FORRIQST
| Q4 25 | -4.2% | -1.5% | ||
| Q3 25 | 0.6% | -0.9% | ||
| Q2 25 | -3.8% | 0.3% | ||
| Q1 25 | 29.0% | -3.4% | ||
| Q4 24 | -2.3% | -0.4% | ||
| Q3 24 | -0.2% | 1.1% | ||
| Q2 24 | -3.1% | -3.4% | ||
| Q1 24 | -0.8% | -1.2% |
资本支出强度FORRIQST
| Q4 25 | 1.1% | 0.0% | ||
| Q3 25 | 0.7% | 0.0% | ||
| Q2 25 | 0.5% | 0.1% | ||
| Q1 25 | 0.7% | 0.1% | ||
| Q4 24 | 0.6% | 0.0% | ||
| Q3 24 | 0.5% | 0.1% | ||
| Q2 24 | 0.7% | 0.0% | ||
| Q1 24 | 1.4% | 0.1% |
现金转化率FORRIQST
| 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
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
