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弗雷斯特研究公司（FORR）与LEGALZOOM.COM, INC.（LZ）财务数据对比。点击上方公司名可切换其他公司
LEGALZOOM.COM, INC.的季度营收约是弗雷斯特研究公司的2.0倍（$206.8M vs $101.1M），LEGALZOOM.COM, INC.净利率更高（0.5% vs -33.5%，领先34.1%），LEGALZOOM.COM, INC.同比增速更快（12.9% vs -6.5%），LEGALZOOM.COM, INC.自由现金流更多（$41.0M vs $-4.3M），过去两年LEGALZOOM.COM, INC.的营收复合增速更高（8.0% 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。
LegalZoom是2001年成立的美国在线法律科技与服务企业，依托独立律师网络、旗下自营律所，结合自助服务技术与专属顾问，为用户提供线上法律服务。核心业务涵盖遗嘱、生前信托设立，营业执照、许可证办理等商事合规服务，以及版权登记、商标申请，同时还提供律师推荐等相关配套服务。
FORR vs LZ — 直观对比
营收规模更大
LZ
是对方的2.0倍
$101.1M
营收增速更快
LZ
高出19.4%
-6.5%
净利率更高
LZ
高出34.1%
-33.5%
自由现金流更多
LZ
多$45.3M
$-4.3M
两年增速更快
LZ
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $206.8M |
| 净利润 | $-33.9M | $1.1M |
| 毛利率 | 56.7% | 64.0% |
| 营业利润率 | -36.6% | 1.3% |
| 净利率 | -33.5% | 0.5% |
| 营收同比 | -6.5% | 12.9% |
| 净利润同比 | -7941.4% | -78.5% |
| 每股收益（稀释后） | $-1.75 | $0.01 |
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FORRLZ
| Q1 26 | — | $206.8M | ||
| Q4 25 | $101.1M | $190.3M | ||
| Q3 25 | $94.3M | $190.2M | ||
| Q2 25 | $111.7M | $192.5M | ||
| Q1 25 | $89.9M | $183.1M | ||
| Q4 24 | $108.0M | $161.7M | ||
| Q3 24 | $102.5M | $168.6M | ||
| Q2 24 | $121.8M | $177.4M |
净利润FORRLZ
| Q1 26 | — | $1.1M | ||
| Q4 25 | $-33.9M | $6.1M | ||
| Q3 25 | $-2.1M | $4.5M | ||
| Q2 25 | $3.9M | $-266.0K | ||
| Q1 25 | $-87.3M | $5.1M | ||
| Q4 24 | $432.0K | $12.9M | ||
| Q3 24 | $-5.8M | $11.1M | ||
| Q2 24 | $6.3M | $1.3M |
毛利率FORRLZ
| Q1 26 | — | 64.0% | ||
| Q4 25 | 56.7% | 67.6% | ||
| Q3 25 | 60.0% | 67.3% | ||
| Q2 25 | 55.5% | 65.0% | ||
| Q1 25 | 55.9% | 63.7% | ||
| Q4 24 | 58.8% | 67.0% | ||
| Q3 24 | 60.5% | 67.5% | ||
| Q2 24 | 57.3% | 64.1% |
营业利润率FORRLZ
| Q1 26 | — | 1.3% | ||
| Q4 25 | -36.6% | 6.6% | ||
| Q3 25 | 4.7% | 3.4% | ||
| Q2 25 | 6.2% | -1.6% | ||
| Q1 25 | -97.5% | 4.9% | ||
| Q4 24 | -0.5% | 8.1% | ||
| Q3 24 | -0.7% | 9.6% | ||
| Q2 24 | 9.3% | 0.6% |
净利率FORRLZ
| Q1 26 | — | 0.5% | ||
| Q4 25 | -33.5% | 3.2% | ||
| Q3 25 | -2.3% | 2.4% | ||
| Q2 25 | 3.5% | -0.1% | ||
| Q1 25 | -97.1% | 2.8% | ||
| Q4 24 | 0.4% | 7.9% | ||
| Q3 24 | -5.7% | 6.6% | ||
| Q2 24 | 5.2% | 0.7% |
每股收益（稀释后）FORRLZ
| Q1 26 | — | $0.01 | ||
| Q4 25 | $-1.75 | $0.03 | ||
| Q3 25 | $-0.11 | $0.02 | ||
| Q2 25 | $0.20 | $0.00 | ||
| Q1 25 | $-4.62 | $0.03 | ||
| Q4 24 | $0.02 | $0.07 | ||
| Q3 24 | $-0.30 | $0.06 | ||
| Q2 24 | $0.33 | $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 | $183.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $146.9M |
| 总资产 | $404.0M | $491.9M |
| 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FORRLZ
| Q1 26 | — | $183.2M | ||
| Q4 25 | $63.3M | $203.1M | ||
| Q3 25 | $65.1M | $237.2M | ||
| Q2 25 | $67.8M | $217.0M | ||
| Q1 25 | $75.6M | $210.0M | ||
| Q4 24 | $56.1M | $142.1M | ||
| Q3 24 | $62.8M | $112.5M | ||
| Q2 24 | $58.9M | $118.8M |
股东权益FORRLZ
| Q1 26 | — | $146.9M | ||
| Q4 25 | $126.5M | $171.9M | ||
| Q3 25 | $157.7M | $201.9M | ||
| Q2 25 | $159.5M | $194.1M | ||
| Q1 25 | $147.4M | $187.2M | ||
| Q4 24 | $229.5M | $93.3M | ||
| Q3 24 | $234.3M | $60.1M | ||
| Q2 24 | $237.1M | $60.8M |
总资产FORRLZ
| Q1 26 | — | $491.9M | ||
| Q4 25 | $404.0M | $511.5M | ||
| Q3 25 | $414.2M | $551.1M | ||
| Q2 25 | $436.0M | $543.0M | ||
| Q1 25 | $439.8M | $532.7M | ||
| Q4 24 | $503.9M | $373.9M | ||
| Q3 24 | $505.3M | $348.8M | ||
| Q2 24 | $524.2M | $359.5M |
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 | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $41.0M |
| 自由现金流率自由现金流/营收 | -4.2% | 19.8% |
| 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 | — | 42.83× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $147.6M |
8季度趋势，按日历期对齐
经营现金流FORRLZ
| Q1 26 | — | $47.3M | ||
| Q4 25 | $-3.2M | $34.1M | ||
| Q3 25 | $1.2M | $54.2M | ||
| Q2 25 | $-3.6M | $39.1M | ||
| Q1 25 | $26.7M | $50.7M | ||
| Q4 24 | $-1.8M | $42.6M | ||
| Q3 24 | $264.0K | $31.6M | ||
| Q2 24 | $-2.9M | $27.2M |
自由现金流FORRLZ
| Q1 26 | — | $41.0M | ||
| Q4 25 | $-4.3M | $28.0M | ||
| Q3 25 | $524.0K | $47.0M | ||
| Q2 25 | $-4.2M | $31.6M | ||
| Q1 25 | $26.1M | $41.3M | ||
| Q4 24 | $-2.5M | $35.9M | ||
| Q3 24 | $-223.0K | $22.0M | ||
| Q2 24 | $-3.7M | $17.4M |
自由现金流率FORRLZ
| Q1 26 | — | 19.8% | ||
| Q4 25 | -4.2% | 14.7% | ||
| Q3 25 | 0.6% | 24.7% | ||
| Q2 25 | -3.8% | 16.4% | ||
| Q1 25 | 29.0% | 22.6% | ||
| Q4 24 | -2.3% | 22.2% | ||
| Q3 24 | -0.2% | 13.0% | ||
| Q2 24 | -3.1% | 9.8% |
资本支出强度FORRLZ
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 3.2% | ||
| Q3 25 | 0.7% | 3.8% | ||
| Q2 25 | 0.5% | 3.9% | ||
| Q1 25 | 0.7% | 5.1% | ||
| Q4 24 | 0.6% | 4.1% | ||
| Q3 24 | 0.5% | 5.7% | ||
| Q2 24 | 0.7% | 5.6% |
现金转化率FORRLZ
| Q1 26 | — | 42.83× | ||
| Q4 25 | — | 5.63× | ||
| Q3 25 | — | 12.03× | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | 9.89× | ||
| Q4 24 | -4.24× | 3.31× | ||
| Q3 24 | — | 2.86× | ||
| Q2 24 | -0.46× | 20.74× |
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% |
LZ
| Subscription | $130.2M | 63% |
| Transaction | $76.6M | 37% |
