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弗雷斯特研究公司（FORR）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
MARCUS CORP的季度营收约是弗雷斯特研究公司的1.9倍（$193.5M vs $101.1M），MARCUS CORP同比增速更快（2.8% vs -6.5%），MARCUS CORP自由现金流更多（$26.4M vs $-4.3M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
FORR vs MCS — 直观对比
营收规模更大
MCS
是对方的1.9倍
$101.1M
营收增速更快
MCS
高出9.2%
-6.5%
自由现金流更多
MCS
多$30.7M
$-4.3M
两年增速更快
MCS
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $193.5M |
| 净利润 | $-33.9M | — |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | 0.9% |
| 净利率 | -33.5% | — |
| 营收同比 | -6.5% | 2.8% |
| 净利润同比 | -7941.4% | — |
| 每股收益（稀释后） | $-1.75 | — |
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FORRMCS
| Q4 25 | $101.1M | $193.5M | ||
| Q3 25 | $94.3M | $210.2M | ||
| Q2 25 | $111.7M | $206.0M | ||
| Q1 25 | $89.9M | $148.8M | ||
| Q4 24 | $108.0M | $188.3M | ||
| Q3 24 | $102.5M | $232.7M | ||
| Q2 24 | $121.8M | $176.0M | ||
| Q1 24 | $100.1M | $138.5M |
净利润FORRMCS
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $16.2M | ||
| Q2 25 | $3.9M | $7.3M | ||
| Q1 25 | $-87.3M | $-16.8M | ||
| Q4 24 | $432.0K | $986.0K | ||
| Q3 24 | $-5.8M | $23.3M | ||
| Q2 24 | $6.3M | $-20.2M | ||
| Q1 24 | $-6.7M | $-11.9M |
毛利率FORRMCS
| 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FORRMCS
| Q4 25 | -36.6% | 0.9% | ||
| Q3 25 | 4.7% | 10.8% | ||
| Q2 25 | 6.2% | 6.3% | ||
| Q1 25 | -97.5% | -13.7% | ||
| Q4 24 | -0.5% | -1.2% | ||
| Q3 24 | -0.7% | 14.1% | ||
| Q2 24 | 9.3% | 1.3% | ||
| Q1 24 | -9.3% | -12.0% |
净利率FORRMCS
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | 7.7% | ||
| Q2 25 | 3.5% | 3.6% | ||
| Q1 25 | -97.1% | -11.3% | ||
| Q4 24 | 0.4% | 0.5% | ||
| Q3 24 | -5.7% | 10.0% | ||
| Q2 24 | 5.2% | -11.5% | ||
| Q1 24 | -6.7% | -8.6% |
每股收益（稀释后）FORRMCS
| Q4 25 | $-1.75 | — | ||
| Q3 25 | $-0.11 | — | ||
| Q2 25 | $0.20 | — | ||
| Q1 25 | $-4.62 | — | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $-0.30 | — | ||
| Q2 24 | $0.33 | — | ||
| Q1 24 | $-0.35 | — |
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 | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $126.5M | $457.4M |
| 总资产 | $404.0M | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FORRMCS
| Q4 25 | $63.3M | $23.4M | ||
| Q3 25 | $65.1M | $7.4M | ||
| Q2 25 | $67.8M | $14.9M | ||
| Q1 25 | $75.6M | $11.9M | ||
| Q4 24 | $56.1M | $40.8M | ||
| Q3 24 | $62.8M | $28.4M | ||
| Q2 24 | $58.9M | $32.8M | ||
| Q1 24 | $61.4M | $17.3M |
总债务FORRMCS
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | — | $175.7M | ||
| Q1 24 | — | $169.8M |
股东权益FORRMCS
| Q4 25 | $126.5M | $457.4M | ||
| Q3 25 | $157.7M | $454.3M | ||
| Q2 25 | $159.5M | $448.4M | ||
| Q1 25 | $147.4M | $441.8M | ||
| Q4 24 | $229.5M | $464.9M | ||
| Q3 24 | $234.3M | $462.3M | ||
| Q2 24 | $237.1M | $449.4M | ||
| Q1 24 | $230.9M | $459.3M |
总资产FORRMCS
| Q4 25 | $404.0M | $1.0B | ||
| Q3 25 | $414.2M | $1.0B | ||
| Q2 25 | $436.0M | $1.0B | ||
| Q1 25 | $439.8M | $1.0B | ||
| Q4 24 | $503.9M | $1.0B | ||
| Q3 24 | $505.3M | $1.0B | ||
| Q2 24 | $524.2M | $1.1B | ||
| Q1 24 | $555.7M | $1.0B |
负债/权益比FORRMCS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $26.4M |
| 自由现金流率自由现金流/营收 | -4.2% | 13.6% |
| 资本支出强度资本支出/营收 | 1.1% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流FORRMCS
| Q4 25 | $-3.2M | $48.8M | ||
| Q3 25 | $1.2M | $39.1M | ||
| Q2 25 | $-3.6M | $31.6M | ||
| Q1 25 | $26.7M | $-35.3M | ||
| Q4 24 | $-1.8M | $52.6M | ||
| Q3 24 | $264.0K | $30.5M | ||
| Q2 24 | $-2.9M | $36.0M | ||
| Q1 24 | $611.0K | $-15.1M |
自由现金流FORRMCS
| Q4 25 | $-4.3M | $26.4M | ||
| Q3 25 | $524.0K | $18.2M | ||
| Q2 25 | $-4.2M | $14.7M | ||
| Q1 25 | $26.1M | $-58.3M | ||
| Q4 24 | $-2.5M | $27.1M | ||
| Q3 24 | $-223.0K | $12.0M | ||
| Q2 24 | $-3.7M | $16.1M | ||
| Q1 24 | $-815.0K | $-30.5M |
自由现金流率FORRMCS
| Q4 25 | -4.2% | 13.6% | ||
| Q3 25 | 0.6% | 8.7% | ||
| Q2 25 | -3.8% | 7.1% | ||
| Q1 25 | 29.0% | -39.2% | ||
| Q4 24 | -2.3% | 14.4% | ||
| Q3 24 | -0.2% | 5.2% | ||
| Q2 24 | -3.1% | 9.2% | ||
| Q1 24 | -0.8% | -22.0% |
资本支出强度FORRMCS
| Q4 25 | 1.1% | 11.6% | ||
| Q3 25 | 0.7% | 9.9% | ||
| Q2 25 | 0.5% | 8.2% | ||
| Q1 25 | 0.7% | 15.5% | ||
| Q4 24 | 0.6% | 13.5% | ||
| Q3 24 | 0.5% | 7.9% | ||
| Q2 24 | 0.7% | 11.3% | ||
| Q1 24 | 1.4% | 11.1% |
现金转化率FORRMCS
| Q4 25 | — | — | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | -0.93× | 4.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
