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弗雷斯特研究公司（FORR）与LTC PROPERTIES INC（LTC）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LTC PROPERTIES INC的1.2倍（$101.1M vs $84.3M），LTC PROPERTIES INC净利率更高（123.0% vs -33.5%，领先156.5%），LTC PROPERTIES INC同比增速更快（60.3% vs -6.5%），LTC PROPERTIES INC自由现金流更多（$128.7M vs $-4.3M），过去两年LTC PROPERTIES INC的营收复合增速更高（28.1% 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。
LTC Properties Inc是一家总部位于美国的房地产投资信托企业，核心业务为持有、融资及运营老年住宅与医疗相关不动产，投资组合涵盖辅助生活设施、专业护理物业、记忆照护中心及独立生活社区，服务美国养老与医疗领域运营方。
FORR vs LTC — 直观对比
营收规模更大
FORR
是对方的1.2倍
$84.3M
营收增速更快
LTC
高出66.8%
-6.5%
净利率更高
LTC
高出156.5%
-33.5%
自由现金流更多
LTC
多$133.0M
$-4.3M
两年增速更快
LTC
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $84.3M |
| 净利润 | $-33.9M | $103.7M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | — |
| 净利率 | -33.5% | 123.0% |
| 营收同比 | -6.5% | 60.3% |
| 净利润同比 | -7941.4% | 429.1% |
| 每股收益（稀释后） | $-1.75 | $2.19 |
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FORRLTC
| Q4 25 | $101.1M | $84.3M | ||
| Q3 25 | $94.3M | $69.3M | ||
| Q2 25 | $111.7M | $60.2M | ||
| Q1 25 | $89.9M | $49.0M | ||
| Q4 24 | $108.0M | $52.6M | ||
| Q3 24 | $102.5M | $55.8M | ||
| Q2 24 | $121.8M | $50.1M | ||
| Q1 24 | $100.1M | $51.4M |
净利润FORRLTC
| Q4 25 | $-33.9M | $103.7M | ||
| Q3 25 | $-2.1M | $-20.0M | ||
| Q2 25 | $3.9M | $15.1M | ||
| Q1 25 | $-87.3M | $20.7M | ||
| Q4 24 | $432.0K | $19.6M | ||
| Q3 24 | $-5.8M | $29.4M | ||
| Q2 24 | $6.3M | $19.4M | ||
| Q1 24 | $-6.7M | $24.2M |
毛利率FORRLTC
| 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FORRLTC
| Q4 25 | -36.6% | — | ||
| Q3 25 | 4.7% | 71.9% | ||
| Q2 25 | 6.2% | 80.5% | ||
| Q1 25 | -97.5% | 37.8% | ||
| Q4 24 | -0.5% | — | ||
| Q3 24 | -0.7% | 95.5% | ||
| Q2 24 | 9.3% | 38.0% | ||
| Q1 24 | -9.3% | 47.3% |
净利率FORRLTC
| Q4 25 | -33.5% | 123.0% | ||
| Q3 25 | -2.3% | -28.9% | ||
| Q2 25 | 3.5% | 25.1% | ||
| Q1 25 | -97.1% | 42.2% | ||
| Q4 24 | 0.4% | 37.3% | ||
| Q3 24 | -5.7% | 52.6% | ||
| Q2 24 | 5.2% | 38.6% | ||
| Q1 24 | -6.7% | 47.2% |
每股收益（稀释后）FORRLTC
| Q4 25 | $-1.75 | $2.19 | ||
| Q3 25 | $-0.11 | $-0.44 | ||
| Q2 25 | $0.20 | $0.32 | ||
| Q1 25 | $-4.62 | $0.45 | ||
| Q4 24 | $0.02 | $0.38 | ||
| Q3 24 | $-0.30 | $0.66 | ||
| Q2 24 | $0.33 | $0.44 | ||
| Q1 24 | $-0.35 | $0.56 |
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 | $14.4M |
| 总债务越低越好 | — | $842.2M |
| 股东权益账面价值 | $126.5M | $1.1B |
| 总资产 | $404.0M | $2.1B |
| 负债/权益比越低杠杆越低 | — | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资FORRLTC
| Q4 25 | $63.3M | $14.4M | ||
| Q3 25 | $65.1M | $17.9M | ||
| Q2 25 | $67.8M | $7.6M | ||
| Q1 25 | $75.6M | $23.3M | ||
| Q4 24 | $56.1M | $9.4M | ||
| Q3 24 | $62.8M | $35.0M | ||
| Q2 24 | $58.9M | $6.2M | ||
| Q1 24 | $61.4M | $9.0M |
总债务FORRLTC
| Q4 25 | — | $842.2M | ||
| Q3 25 | — | $944.5M | ||
| Q2 25 | — | $696.5M | ||
| Q1 25 | — | $682.2M | ||
| Q4 24 | — | $684.6M | ||
| Q3 24 | — | $785.3M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $860.2M |
股东权益FORRLTC
| Q4 25 | $126.5M | $1.1B | ||
| Q3 25 | $157.7M | $957.9M | ||
| Q2 25 | $159.5M | $957.5M | ||
| Q1 25 | $147.4M | $961.9M | ||
| Q4 24 | $229.5M | $960.6M | ||
| Q3 24 | $234.3M | $947.8M | ||
| Q2 24 | $237.1M | $889.1M | ||
| Q1 24 | $230.9M | $886.2M |
总资产FORRLTC
| Q4 25 | $404.0M | $2.1B | ||
| Q3 25 | $414.2M | $2.0B | ||
| Q2 25 | $436.0M | $1.8B | ||
| Q1 25 | $439.8M | $1.8B | ||
| Q4 24 | $503.9M | $1.8B | ||
| Q3 24 | $505.3M | $1.9B | ||
| Q2 24 | $524.2M | $1.9B | ||
| Q1 24 | $555.7M | $1.8B |
负债/权益比FORRLTC
| Q4 25 | — | 0.78× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.73× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.71× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.97× |
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 | $136.0M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $128.7M |
| 自由现金流率自由现金流/营收 | -4.2% | 152.7% |
| 资本支出强度资本支出/营收 | 1.1% | 8.6% |
| 现金转化率经营现金流/净利润 | — | 1.31× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $220.1M |
8季度趋势，按日历期对齐
经营现金流FORRLTC
| Q4 25 | $-3.2M | $136.0M | ||
| Q3 25 | $1.2M | $38.4M | ||
| Q2 25 | $-3.6M | $30.0M | ||
| Q1 25 | $26.7M | $29.6M | ||
| Q4 24 | $-1.8M | $125.9M | ||
| Q3 24 | $264.0K | $34.0M | ||
| Q2 24 | $-2.9M | $37.0M | ||
| Q1 24 | $611.0K | $21.1M |
自由现金流FORRLTC
| Q4 25 | $-4.3M | $128.7M | ||
| Q3 25 | $524.0K | $34.3M | ||
| Q2 25 | $-4.2M | $28.9M | ||
| Q1 25 | $26.1M | $28.2M | ||
| Q4 24 | $-2.5M | $112.2M | ||
| Q3 24 | $-223.0K | $27.7M | ||
| Q2 24 | $-3.7M | $34.7M | ||
| Q1 24 | $-815.0K | $19.7M |
自由现金流率FORRLTC
| Q4 25 | -4.2% | 152.7% | ||
| Q3 25 | 0.6% | 49.4% | ||
| Q2 25 | -3.8% | 47.9% | ||
| Q1 25 | 29.0% | 57.6% | ||
| Q4 24 | -2.3% | 213.4% | ||
| Q3 24 | -0.2% | 49.7% | ||
| Q2 24 | -3.1% | 69.1% | ||
| Q1 24 | -0.8% | 38.4% |
资本支出强度FORRLTC
| Q4 25 | 1.1% | 8.6% | ||
| Q3 25 | 0.7% | 6.0% | ||
| Q2 25 | 0.5% | 1.9% | ||
| Q1 25 | 0.7% | 2.7% | ||
| Q4 24 | 0.6% | 26.0% | ||
| Q3 24 | 0.5% | 11.2% | ||
| Q2 24 | 0.7% | 4.6% | ||
| Q1 24 | 1.4% | 2.6% |
现金转化率FORRLTC
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | 1.99× | ||
| Q1 25 | — | 1.43× | ||
| Q4 24 | -4.24× | 6.43× | ||
| Q3 24 | — | 1.16× | ||
| Q2 24 | -0.46× | 1.91× | ||
| Q1 24 | — | 0.87× |
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% |
LTC
| Seniors Housing Operating Portfolio Segment | $72.1M | 86% |
| Other | $12.2M | 14% |
