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弗雷斯特研究公司（FORR）与MESA LABORATORIES INC（MLAB）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MESA LABORATORIES INC的1.6倍（$101.1M vs $65.1M），MESA LABORATORIES INC净利率更高（5.6% vs -33.5%，领先39.1%），MESA LABORATORIES INC同比增速更快（3.6% vs -6.5%），MESA LABORATORIES INC自由现金流更多（$18.0M vs $-4.3M），过去两年MESA LABORATORIES INC的营收复合增速更高（5.1% 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。
梅萨实验室有限公司开发、生产和销售专业质控、校准及监测仪器与配套服务，核心业务覆盖医疗健康、制药、食品饮料、工业卫生及环境检测领域，为全球客户满足合规及运营安全需求提供支持。
FORR vs MLAB — 直观对比
营收规模更大
FORR
是对方的1.6倍
$65.1M
营收增速更快
MLAB
高出10.1%
-6.5%
净利率更高
MLAB
高出39.1%
-33.5%
自由现金流更多
MLAB
多$22.3M
$-4.3M
两年增速更快
MLAB
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $65.1M |
| 净利润 | $-33.9M | $3.6M |
| 毛利率 | 56.7% | 64.2% |
| 营业利润率 | -36.6% | 12.2% |
| 净利率 | -33.5% | 5.6% |
| 营收同比 | -6.5% | 3.6% |
| 净利润同比 | -7941.4% | 316.6% |
| 每股收益（稀释后） | $-1.75 | $0.65 |
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FORRMLAB
| Q4 25 | $101.1M | $65.1M | ||
| Q3 25 | $94.3M | $60.7M | ||
| Q2 25 | $111.7M | $59.5M | ||
| Q1 25 | $89.9M | $62.1M | ||
| Q4 24 | $108.0M | $62.8M | ||
| Q3 24 | $102.5M | $57.8M | ||
| Q2 24 | $121.8M | $58.2M | ||
| Q1 24 | $100.1M | $58.9M |
净利润FORRMLAB
| Q4 25 | $-33.9M | $3.6M | ||
| Q3 25 | $-2.1M | $2.5M | ||
| Q2 25 | $3.9M | $4.7M | ||
| Q1 25 | $-87.3M | $-7.1M | ||
| Q4 24 | $432.0K | $-1.7M | ||
| Q3 24 | $-5.8M | $3.4M | ||
| Q2 24 | $6.3M | $3.4M | ||
| Q1 24 | $-6.7M | $-254.6M |
毛利率FORRMLAB
| Q4 25 | 56.7% | 64.2% | ||
| Q3 25 | 60.0% | 61.5% | ||
| Q2 25 | 55.5% | 62.0% | ||
| Q1 25 | 55.9% | 61.8% | ||
| Q4 24 | 58.8% | 63.3% | ||
| Q3 24 | 60.5% | 61.3% | ||
| Q2 24 | 57.3% | 64.0% | ||
| Q1 24 | 54.9% | 62.1% |
营业利润率FORRMLAB
| Q4 25 | -36.6% | 12.2% | ||
| Q3 25 | 4.7% | 7.8% | ||
| Q2 25 | 6.2% | 5.1% | ||
| Q1 25 | -97.5% | 2.4% | ||
| Q4 24 | -0.5% | 9.2% | ||
| Q3 24 | -0.7% | 6.1% | ||
| Q2 24 | 9.3% | 9.6% | ||
| Q1 24 | -9.3% | -460.6% |
净利率FORRMLAB
| Q4 25 | -33.5% | 5.6% | ||
| Q3 25 | -2.3% | 4.1% | ||
| Q2 25 | 3.5% | 8.0% | ||
| Q1 25 | -97.1% | -11.4% | ||
| Q4 24 | 0.4% | -2.7% | ||
| Q3 24 | -5.7% | 5.9% | ||
| Q2 24 | 5.2% | 5.8% | ||
| Q1 24 | -6.7% | -432.2% |
每股收益（稀释后）FORRMLAB
| Q4 25 | $-1.75 | $0.65 | ||
| Q3 25 | $-0.11 | $0.45 | ||
| Q2 25 | $0.20 | $0.85 | ||
| Q1 25 | $-4.62 | $-1.30 | ||
| Q4 24 | $0.02 | $-0.31 | ||
| Q3 24 | $-0.30 | $0.63 | ||
| Q2 24 | $0.33 | $0.62 | ||
| Q1 24 | $-0.35 | $-47.26 |
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 | $29.0M |
| 总债务越低越好 | — | $68.4M |
| 股东权益账面价值 | $126.5M | $186.7M |
| 总资产 | $404.0M | $434.8M |
| 负债/权益比越低杠杆越低 | — | 0.37× |
8季度趋势，按日历期对齐
现金及短期投资FORRMLAB
| Q4 25 | $63.3M | $29.0M | ||
| Q3 25 | $65.1M | $20.4M | ||
| Q2 25 | $67.8M | $21.3M | ||
| Q1 25 | $75.6M | $27.3M | ||
| Q4 24 | $56.1M | $27.3M | ||
| Q3 24 | $62.8M | $24.3M | ||
| Q2 24 | $58.9M | $28.5M | ||
| Q1 24 | $61.4M | $28.2M |
总债务FORRMLAB
| Q4 25 | — | $68.4M | ||
| Q3 25 | — | $69.4M | ||
| Q2 25 | — | $70.3M | ||
| Q1 25 | — | $71.3M | ||
| Q4 24 | — | $72.2M | ||
| Q3 24 | — | $73.1M | ||
| Q2 24 | — | $74.1M | ||
| Q1 24 | — | — |
股东权益FORRMLAB
| Q4 25 | $126.5M | $186.7M | ||
| Q3 25 | $157.7M | $178.5M | ||
| Q2 25 | $159.5M | $172.5M | ||
| Q1 25 | $147.4M | $159.8M | ||
| Q4 24 | $229.5M | $155.2M | ||
| Q3 24 | $234.3M | $161.5M | ||
| Q2 24 | $237.1M | $150.7M | ||
| Q1 24 | $230.9M | $145.4M |
总资产FORRMLAB
| Q4 25 | $404.0M | $434.8M | ||
| Q3 25 | $414.2M | $430.4M | ||
| Q2 25 | $436.0M | $435.7M | ||
| Q1 25 | $439.8M | $433.3M | ||
| Q4 24 | $503.9M | $433.3M | ||
| Q3 24 | $505.3M | $454.1M | ||
| Q2 24 | $524.2M | $440.4M | ||
| Q1 24 | $555.7M | $446.8M |
负债/权益比FORRMLAB
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.45× | ||
| Q2 24 | — | 0.49× | ||
| Q1 24 | — | — |
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 | $18.8M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $18.0M |
| 自由现金流率自由现金流/营收 | -4.2% | 27.7% |
| 资本支出强度资本支出/营收 | 1.1% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 5.17× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $37.9M |
8季度趋势，按日历期对齐
经营现金流FORRMLAB
| Q4 25 | $-3.2M | $18.8M | ||
| Q3 25 | $1.2M | $8.2M | ||
| Q2 25 | $-3.6M | $1.9M | ||
| Q1 25 | $26.7M | $12.7M | ||
| Q4 24 | $-1.8M | $18.1M | ||
| Q3 24 | $264.0K | $5.3M | ||
| Q2 24 | $-2.9M | $10.7M | ||
| Q1 24 | $611.0K | $12.9M |
自由现金流FORRMLAB
| Q4 25 | $-4.3M | $18.0M | ||
| Q3 25 | $524.0K | $7.1M | ||
| Q2 25 | $-4.2M | $884.0K | ||
| Q1 25 | $26.1M | $11.9M | ||
| Q4 24 | $-2.5M | $17.3M | ||
| Q3 24 | $-223.0K | $3.5M | ||
| Q2 24 | $-3.7M | $9.9M | ||
| Q1 24 | $-815.0K | $12.3M |
自由现金流率FORRMLAB
| Q4 25 | -4.2% | 27.7% | ||
| Q3 25 | 0.6% | 11.7% | ||
| Q2 25 | -3.8% | 1.5% | ||
| Q1 25 | 29.0% | 19.2% | ||
| Q4 24 | -2.3% | 27.6% | ||
| Q3 24 | -0.2% | 6.0% | ||
| Q2 24 | -3.1% | 16.9% | ||
| Q1 24 | -0.8% | 21.0% |
资本支出强度FORRMLAB
| Q4 25 | 1.1% | 1.1% | ||
| Q3 25 | 0.7% | 1.8% | ||
| Q2 25 | 0.5% | 1.7% | ||
| Q1 25 | 0.7% | 1.2% | ||
| Q4 24 | 0.6% | 1.3% | ||
| Q3 24 | 0.5% | 3.1% | ||
| Q2 24 | 0.7% | 1.5% | ||
| Q1 24 | 1.4% | 0.9% |
现金转化率FORRMLAB
| Q4 25 | — | 5.17× | ||
| Q3 25 | — | 3.32× | ||
| Q2 25 | -0.93× | 0.40× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 1.54× | ||
| Q2 24 | -0.46× | 3.17× | ||
| 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% |
MLAB
| Sterilization And Disinfection Control | $24.9M | 38% |
| Biopharmaceutical Development | $14.4M | 22% |
| Other | $14.1M | 22% |
| Clinical Genomics | $11.8M | 18% |
