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弗雷斯特研究公司（FORR）与3M（MMM）财务数据对比。点击上方公司名可切换其他公司
3M的季度营收约是弗雷斯特研究公司的59.7倍（$6.0B vs $101.1M）。3M净利率更高（10.8% vs -33.5%，领先44.3%）。3M同比增速更快（1.3% vs -6.5%）。3M自由现金流更多（$2.0B 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 -1.8%）
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。
3M是美国知名跨国综合企业，业务覆盖工业、劳动者安全防护、消费品等多个领域，总部位于圣保罗郊区的枫木市。公司现有超6万款产品，涵盖胶粘剂、研磨材料、防火防护产品、个人防护装备、窗膜、车漆保护膜、电子连接绝缘材料、汽车养护产品、光学膜等品类。
FORR vs MMM — 直观对比
营收规模更大
MMM
是对方的59.7倍
$101.1M
营收增速更快
MMM
高出7.8%
-6.5%
净利率更高
MMM
高出44.3%
-33.5%
自由现金流更多
MMM
多$2.0B
$-4.3M
两年增速更快
FORR
近两年复合增速
-1.8%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $6.0B |
| 净利润 | $-33.9M | $653.0M |
| 毛利率 | 56.7% | 40.7% |
| 营业利润率 | -36.6% | 23.2% |
| 净利率 | -33.5% | 10.8% |
| 营收同比 | -6.5% | 1.3% |
| 净利润同比 | -7941.4% | -41.5% |
| 每股收益（稀释后） | $-1.75 | $1.23 |
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FORRMMM
| Q1 26 | — | $6.0B | ||
| Q4 25 | $101.1M | $6.1B | ||
| Q3 25 | $94.3M | $6.5B | ||
| Q2 25 | $111.7M | $6.3B | ||
| Q1 25 | $89.9M | $6.0B | ||
| Q4 24 | $108.0M | $6.0B | ||
| Q3 24 | $102.5M | $6.3B | ||
| Q2 24 | $121.8M | $6.3B |
净利润FORRMMM
| Q1 26 | — | $653.0M | ||
| Q4 25 | $-33.9M | $577.0M | ||
| Q3 25 | $-2.1M | $834.0M | ||
| Q2 25 | $3.9M | $723.0M | ||
| Q1 25 | $-87.3M | $1.1B | ||
| Q4 24 | $432.0K | $728.0M | ||
| Q3 24 | $-5.8M | $1.4B | ||
| Q2 24 | $6.3M | $1.1B |
毛利率FORRMMM
| Q1 26 | — | 40.7% | ||
| Q4 25 | 56.7% | 33.6% | ||
| Q3 25 | 60.0% | 41.8% | ||
| Q2 25 | 55.5% | 42.5% | ||
| Q1 25 | 55.9% | 41.6% | ||
| Q4 24 | 58.8% | 51.7% | ||
| Q3 24 | 60.5% | 42.1% | ||
| Q2 24 | 57.3% | 42.9% |
营业利润率FORRMMM
| Q1 26 | — | 23.2% | ||
| Q4 25 | -36.6% | 13.0% | ||
| Q3 25 | 4.7% | 22.2% | ||
| Q2 25 | 6.2% | 18.0% | ||
| Q1 25 | -97.5% | 20.9% | ||
| Q4 24 | -0.5% | 12.2% | ||
| Q3 24 | -0.7% | 20.9% | ||
| Q2 24 | 9.3% | 20.3% |
净利率FORRMMM
| Q1 26 | — | 10.8% | ||
| Q4 25 | -33.5% | 9.4% | ||
| Q3 25 | -2.3% | 12.8% | ||
| Q2 25 | 3.5% | 11.4% | ||
| Q1 25 | -97.1% | 18.7% | ||
| Q4 24 | 0.4% | 12.1% | ||
| Q3 24 | -5.7% | 21.8% | ||
| Q2 24 | 5.2% | 18.3% |
每股收益（稀释后）FORRMMM
| Q1 26 | — | $1.23 | ||
| Q4 25 | $-1.75 | $1.07 | ||
| Q3 25 | $-0.11 | $1.55 | ||
| Q2 25 | $0.20 | $1.34 | ||
| Q1 25 | $-4.62 | $2.04 | ||
| Q4 24 | $0.02 | $1.33 | ||
| Q3 24 | $-0.30 | $2.48 | ||
| Q2 24 | $0.33 | $2.07 |
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 | $3.7B |
| 总债务越低越好 | — | $10.9B |
| 股东权益账面价值 | $126.5M | $3.3B |
| 总资产 | $404.0M | $35.4B |
| 负债/权益比越低杠杆越低 | — | 3.29× |
8季度趋势，按日历期对齐
现金及短期投资FORRMMM
| Q1 26 | — | $3.7B | ||
| Q4 25 | $63.3M | — | ||
| Q3 25 | $65.1M | — | ||
| Q2 25 | $67.8M | — | ||
| Q1 25 | $75.6M | — | ||
| Q4 24 | $56.1M | — | ||
| Q3 24 | $62.8M | — | ||
| Q2 24 | $58.9M | — |
总债务FORRMMM
| Q1 26 | — | $10.9B | ||
| Q4 25 | — | $12.6B | ||
| Q3 25 | — | $12.6B | ||
| Q2 25 | — | $13.1B | ||
| Q1 25 | — | $13.5B | ||
| Q4 24 | — | $13.0B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | $13.1B |
股东权益FORRMMM
| Q1 26 | — | $3.3B | ||
| Q4 25 | $126.5M | $4.7B | ||
| Q3 25 | $157.7M | $4.6B | ||
| Q2 25 | $159.5M | $4.3B | ||
| Q1 25 | $147.4M | $4.5B | ||
| Q4 24 | $229.5M | $3.8B | ||
| Q3 24 | $234.3M | $4.6B | ||
| Q2 24 | $237.1M | $3.9B |
总资产FORRMMM
| Q1 26 | — | $35.4B | ||
| Q4 25 | $404.0M | $37.7B | ||
| Q3 25 | $414.2M | $37.6B | ||
| Q2 25 | $436.0M | $38.0B | ||
| Q1 25 | $439.8M | $40.0B | ||
| Q4 24 | $503.9M | $39.9B | ||
| Q3 24 | $505.3M | $40.9B | ||
| Q2 24 | $524.2M | $43.4B |
负债/权益比FORRMMM
| Q1 26 | — | 3.29× | ||
| Q4 25 | — | 2.68× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 3.06× | ||
| Q1 25 | — | 3.02× | ||
| Q4 24 | — | 3.40× | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | — | 3.34× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $2.0B |
| 自由现金流率自由现金流/营收 | -4.2% | 33.6% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $18.1M | $3.7B |
8季度趋势，按日历期对齐
经营现金流FORRMMM
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $1.6B | ||
| Q3 25 | $1.2M | $1.8B | ||
| Q2 25 | $-3.6M | $-954.0M | ||
| Q1 25 | $26.7M | $-79.0M | ||
| Q4 24 | $-1.8M | $1.8B | ||
| Q3 24 | $264.0K | $-1.8B | ||
| Q2 24 | $-2.9M | $1.0B |
自由现金流FORRMMM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $-4.3M | $1.3B | ||
| Q3 25 | $524.0K | $1.5B | ||
| Q2 25 | $-4.2M | $-1.2B | ||
| Q1 25 | $26.1M | $-315.0M | ||
| Q4 24 | $-2.5M | $1.5B | ||
| Q3 24 | $-223.0K | $-2.0B | ||
| Q2 24 | $-3.7M | $752.0M |
自由现金流率FORRMMM
| Q1 26 | — | 33.6% | ||
| Q4 25 | -4.2% | 21.8% | ||
| Q3 25 | 0.6% | 23.6% | ||
| Q2 25 | -3.8% | -18.3% | ||
| Q1 25 | 29.0% | -5.3% | ||
| Q4 24 | -2.3% | 25.4% | ||
| Q3 24 | -0.2% | -32.3% | ||
| Q2 24 | -3.1% | 12.0% |
资本支出强度FORRMMM
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 4.0% | ||
| Q3 25 | 0.7% | 3.3% | ||
| Q2 25 | 0.5% | 3.3% | ||
| Q1 25 | 0.7% | 4.0% | ||
| Q4 24 | 0.6% | 4.8% | ||
| Q3 24 | 0.5% | 3.9% | ||
| Q2 24 | 0.7% | 4.3% |
现金转化率FORRMMM
| Q1 26 | — | — | ||
| Q4 25 | — | 2.74× | ||
| Q3 25 | — | 2.11× | ||
| Q2 25 | -0.93× | -1.32× | ||
| Q1 25 | — | -0.07× | ||
| Q4 24 | -4.24× | 2.50× | ||
| Q3 24 | — | -1.30× | ||
| Q2 24 | -0.46× | 0.89× |
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% |
MMM
| Safety and Industrial business segment | $2.9B | 49% |
| Transportation and Electronics business segment | $1.8B | 31% |
| Consumer business segment | $1.1B | 19% |
| Corporate | $121.0M | 2% |
