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弗雷斯特研究公司（FORR）与MGP INGREDIENTS INC（MGPI）财务数据对比。点击上方公司名可切换其他公司
MGP INGREDIENTS INC的季度营收约是弗雷斯特研究公司的1.4倍（$138.3M vs $101.1M），弗雷斯特研究公司净利率更高（-33.5% vs -97.3%，领先63.8%），弗雷斯特研究公司同比增速更快（-6.5% vs -23.5%），MGP INGREDIENTS INC自由现金流更多（$24.3M vs $-4.3M），过去两年弗雷斯特研究公司的营收复合增速更高（0.5% vs -9.9%）
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。
MGP配料公司是总部位于美国的优质蒸馏酒、特种小麦和玉米基淀粉及蛋白质配料供应商，服务食品饮料制造、餐饮及工业客户领域，为北美及部分全球市场客户提供定制化配料解决方案。
FORR vs MGPI — 直观对比
营收规模更大
MGPI
是对方的1.4倍
$101.1M
营收增速更快
FORR
高出17.0%
-23.5%
净利率更高
FORR
高出63.8%
-97.3%
自由现金流更多
MGPI
多$28.5M
$-4.3M
两年增速更快
FORR
近两年复合增速
-9.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $138.3M |
| 净利润 | $-33.9M | $-134.6M |
| 毛利率 | 56.7% | 34.9% |
| 营业利润率 | -36.6% | -97.7% |
| 净利率 | -33.5% | -97.3% |
| 营收同比 | -6.5% | -23.5% |
| 净利润同比 | -7941.4% | -220.8% |
| 每股收益（稀释后） | $-1.75 | $-6.23 |
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FORRMGPI
| Q4 25 | $101.1M | $138.3M | ||
| Q3 25 | $94.3M | $130.9M | ||
| Q2 25 | $111.7M | $145.5M | ||
| Q1 25 | $89.9M | $121.7M | ||
| Q4 24 | $108.0M | $180.8M | ||
| Q3 24 | $102.5M | $161.5M | ||
| Q2 24 | $121.8M | $190.8M | ||
| Q1 24 | $100.1M | $170.6M |
净利润FORRMGPI
| Q4 25 | $-33.9M | $-134.6M | ||
| Q3 25 | $-2.1M | $15.4M | ||
| Q2 25 | $3.9M | $14.4M | ||
| Q1 25 | $-87.3M | $-3.0M | ||
| Q4 24 | $432.0K | $-42.0M | ||
| Q3 24 | $-5.8M | $23.9M | ||
| Q2 24 | $6.3M | $32.1M | ||
| Q1 24 | $-6.7M | $20.6M |
毛利率FORRMGPI
| Q4 25 | 56.7% | 34.9% | ||
| Q3 25 | 60.0% | 37.8% | ||
| Q2 25 | 55.5% | 40.1% | ||
| Q1 25 | 55.9% | 35.6% | ||
| Q4 24 | 58.8% | 41.2% | ||
| Q3 24 | 60.5% | 40.8% | ||
| Q2 24 | 57.3% | 43.6% | ||
| Q1 24 | 54.9% | 36.8% |
营业利润率FORRMGPI
| Q4 25 | -36.6% | -97.7% | ||
| Q3 25 | 4.7% | 16.1% | ||
| Q2 25 | 6.2% | 14.0% | ||
| Q1 25 | -97.5% | -0.6% | ||
| Q4 24 | -0.5% | -16.8% | ||
| Q3 24 | -0.7% | 20.2% | ||
| Q2 24 | 9.3% | 22.7% | ||
| Q1 24 | -9.3% | 17.0% |
净利率FORRMGPI
| Q4 25 | -33.5% | -97.3% | ||
| Q3 25 | -2.3% | 11.8% | ||
| Q2 25 | 3.5% | 9.9% | ||
| Q1 25 | -97.1% | -2.5% | ||
| Q4 24 | 0.4% | -23.2% | ||
| Q3 24 | -5.7% | 14.8% | ||
| Q2 24 | 5.2% | 16.8% | ||
| Q1 24 | -6.7% | 12.1% |
每股收益（稀释后）FORRMGPI
| Q4 25 | $-1.75 | $-6.23 | ||
| Q3 25 | $-0.11 | $0.71 | ||
| Q2 25 | $0.20 | $0.67 | ||
| Q1 25 | $-4.62 | $-0.14 | ||
| Q4 24 | $0.02 | $-1.86 | ||
| Q3 24 | $-0.30 | $1.07 | ||
| Q2 24 | $0.33 | $1.43 | ||
| Q1 24 | $-0.35 | $0.92 |
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 | $18.5M |
| 总债务越低越好 | — | $245.9M |
| 股东权益账面价值 | $126.5M | $718.4M |
| 总资产 | $404.0M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资FORRMGPI
| Q4 25 | $63.3M | $18.5M | ||
| Q3 25 | $65.1M | $13.4M | ||
| Q2 25 | $67.8M | $17.3M | ||
| Q1 25 | $75.6M | $20.1M | ||
| Q4 24 | $56.1M | $25.3M | ||
| Q3 24 | $62.8M | $20.8M | ||
| Q2 24 | $58.9M | $21.0M | ||
| Q1 24 | $61.4M | $19.5M |
总债务FORRMGPI
| Q4 25 | — | $245.9M | ||
| Q3 25 | — | $262.3M | ||
| Q2 25 | — | $290.7M | ||
| Q1 25 | — | $290.7M | ||
| Q4 24 | — | $317.1M | ||
| Q3 24 | — | $283.6M | ||
| Q2 24 | — | $303.0M | ||
| Q1 24 | — | $294.4M |
股东权益FORRMGPI
| Q4 25 | $126.5M | $718.4M | ||
| Q3 25 | $157.7M | $855.2M | ||
| Q2 25 | $159.5M | $841.8M | ||
| Q1 25 | $147.4M | $828.3M | ||
| Q4 24 | $229.5M | $834.2M | ||
| Q3 24 | $234.3M | $914.5M | ||
| Q2 24 | $237.1M | $894.5M | ||
| Q1 24 | $230.9M | $867.0M |
总资产FORRMGPI
| Q4 25 | $404.0M | $1.2B | ||
| Q3 25 | $414.2M | $1.4B | ||
| Q2 25 | $436.0M | $1.4B | ||
| Q1 25 | $439.8M | $1.4B | ||
| Q4 24 | $503.9M | $1.4B | ||
| Q3 24 | $505.3M | $1.4B | ||
| Q2 24 | $524.2M | $1.4B | ||
| Q1 24 | $555.7M | $1.4B |
负债/权益比FORRMGPI
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.38× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.34× |
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 | $29.1M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $24.3M |
| 自由现金流率自由现金流/营收 | -4.2% | 17.5% |
| 资本支出强度资本支出/营收 | 1.1% | 3.5% |
| 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 | $76.0M |
8季度趋势，按日历期对齐
经营现金流FORRMGPI
| Q4 25 | $-3.2M | $29.1M | ||
| Q3 25 | $1.2M | $36.1M | ||
| Q2 25 | $-3.6M | $11.7M | ||
| Q1 25 | $26.7M | $44.7M | ||
| Q4 24 | $-1.8M | $28.8M | ||
| Q3 24 | $264.0K | $43.9M | ||
| Q2 24 | $-2.9M | $5.0M | ||
| Q1 24 | $611.0K | $24.6M |
自由现金流FORRMGPI
| Q4 25 | $-4.3M | $24.3M | ||
| Q3 25 | $524.0K | $27.6M | ||
| Q2 25 | $-4.2M | $-557.0K | ||
| Q1 25 | $26.1M | $24.8M | ||
| Q4 24 | $-2.5M | $10.4M | ||
| Q3 24 | $-223.0K | $24.5M | ||
| Q2 24 | $-3.7M | $-1.4M | ||
| Q1 24 | $-815.0K | $-2.4M |
自由现金流率FORRMGPI
| Q4 25 | -4.2% | 17.5% | ||
| Q3 25 | 0.6% | 21.1% | ||
| Q2 25 | -3.8% | -0.4% | ||
| Q1 25 | 29.0% | 20.4% | ||
| Q4 24 | -2.3% | 5.8% | ||
| Q3 24 | -0.2% | 15.2% | ||
| Q2 24 | -3.1% | -0.7% | ||
| Q1 24 | -0.8% | -1.4% |
资本支出强度FORRMGPI
| Q4 25 | 1.1% | 3.5% | ||
| Q3 25 | 0.7% | 6.5% | ||
| Q2 25 | 0.5% | 8.4% | ||
| Q1 25 | 0.7% | 16.4% | ||
| Q4 24 | 0.6% | 10.1% | ||
| Q3 24 | 0.5% | 12.0% | ||
| Q2 24 | 0.7% | 3.3% | ||
| Q1 24 | 1.4% | 15.8% |
现金转化率FORRMGPI
| Q4 25 | — | — | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | -0.93× | 0.81× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | -0.46× | 0.15× | ||
| Q1 24 | — | 1.19× |
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% |
MGPI
| Branded Spirits | $63.4M | 46% |
| Ingredient Solutions | $31.3M | 23% |
| Specialty Wheat Starches | $16.8M | 12% |
| Mid Spirits | $16.1M | 12% |
| Other Branded Spirits | $8.0M | 6% |
| Commodity Wheat Starch | $2.3M | 2% |
