vs
弗雷斯特研究公司（FORR）与MP Materials Corp.（MP）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MP Materials Corp.的1.9倍（$101.1M vs $52.7M），MP Materials Corp.净利率更高（17.9% vs -33.5%，领先51.4%），弗雷斯特研究公司同比增速更快（-6.5% vs -13.6%），弗雷斯特研究公司自由现金流更多（$-4.3M vs $-109.3M），过去两年MP Materials Corp.的营收复合增速更高（4.0% 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。
MP Materials Corp.是总部位于美国的稀土材料生产商，拥有并运营加利福尼亚州芒廷帕斯矿，这是西半球唯一在产的稀土开采及加工设施，所产核心材料可广泛应用于电动汽车、风力发电机、国防工业等多个关键领域。
FORR vs MP — 直观对比
营收规模更大
FORR
是对方的1.9倍
$52.7M
营收增速更快
FORR
高出7.1%
-13.6%
净利率更高
MP
高出51.4%
-33.5%
自由现金流更多
FORR
多$105.0M
$-109.3M
两年增速更快
MP
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $52.7M |
| 净利润 | $-33.9M | $9.4M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | -7.0% |
| 净利率 | -33.5% | 17.9% |
| 营收同比 | -6.5% | -13.6% |
| 净利润同比 | -7941.4% | 142.2% |
| 每股收益（稀释后） | $-1.75 | $0.07 |
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FORRMP
| Q4 25 | $101.1M | $52.7M | ||
| Q3 25 | $94.3M | $53.6M | ||
| Q2 25 | $111.7M | $57.4M | ||
| Q1 25 | $89.9M | $60.8M | ||
| Q4 24 | $108.0M | $61.0M | ||
| Q3 24 | $102.5M | $62.9M | ||
| Q2 24 | $121.8M | $31.3M | ||
| Q1 24 | $100.1M | $48.7M |
净利润FORRMP
| Q4 25 | $-33.9M | $9.4M | ||
| Q3 25 | $-2.1M | $-41.8M | ||
| Q2 25 | $3.9M | $-30.9M | ||
| Q1 25 | $-87.3M | $-22.6M | ||
| Q4 24 | $432.0K | $-22.3M | ||
| Q3 24 | $-5.8M | $-25.5M | ||
| Q2 24 | $6.3M | $-34.1M | ||
| Q1 24 | $-6.7M | $16.5M |
毛利率FORRMP
| 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FORRMP
| Q4 25 | -36.6% | -7.0% | ||
| Q3 25 | 4.7% | -125.2% | ||
| Q2 25 | 6.2% | -76.5% | ||
| Q1 25 | -97.5% | -57.2% | ||
| Q4 24 | -0.5% | -72.1% | ||
| Q3 24 | -0.7% | -62.8% | ||
| Q2 24 | 9.3% | -171.1% | ||
| Q1 24 | -9.3% | -66.6% |
净利率FORRMP
| Q4 25 | -33.5% | 17.9% | ||
| Q3 25 | -2.3% | -78.0% | ||
| Q2 25 | 3.5% | -53.8% | ||
| Q1 25 | -97.1% | -37.2% | ||
| Q4 24 | 0.4% | -36.6% | ||
| Q3 24 | -5.7% | -40.5% | ||
| Q2 24 | 5.2% | -108.9% | ||
| Q1 24 | -6.7% | 33.9% |
每股收益（稀释后）FORRMP
| Q4 25 | $-1.75 | $0.07 | ||
| Q3 25 | $-0.11 | $-0.24 | ||
| Q2 25 | $0.20 | $-0.19 | ||
| Q1 25 | $-4.62 | $-0.14 | ||
| Q4 24 | $0.02 | $-0.12 | ||
| Q3 24 | $-0.30 | $-0.16 | ||
| Q2 24 | $0.33 | $-0.21 | ||
| Q1 24 | $-0.35 | $-0.08 |
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 | $1.2B |
| 总债务越低越好 | — | $998.7M |
| 股东权益账面价值 | $126.5M | $2.0B |
| 总资产 | $404.0M | $3.9B |
| 负债/权益比越低杠杆越低 | — | 0.50× |
8季度趋势，按日历期对齐
现金及短期投资FORRMP
| Q4 25 | $63.3M | $1.2B | ||
| Q3 25 | $65.1M | $1.1B | ||
| Q2 25 | $67.8M | $261.5M | ||
| Q1 25 | $75.6M | $198.3M | ||
| Q4 24 | $56.1M | $282.4M | ||
| Q3 24 | $62.8M | $284.4M | ||
| Q2 24 | $58.9M | $295.6M | ||
| Q1 24 | $61.4M | $296.5M |
总债务FORRMP
| Q4 25 | — | $998.7M | ||
| Q3 25 | — | $997.3M | ||
| Q2 25 | — | $910.8M | ||
| Q1 25 | — | $909.8M | ||
| Q4 24 | — | $908.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FORRMP
| Q4 25 | $126.5M | $2.0B | ||
| Q3 25 | $157.7M | $2.0B | ||
| Q2 25 | $159.5M | $1.0B | ||
| Q1 25 | $147.4M | $1.0B | ||
| Q4 24 | $229.5M | $1.1B | ||
| Q3 24 | $234.3M | $1.1B | ||
| Q2 24 | $237.1M | $1.1B | ||
| Q1 24 | $230.9M | $1.1B |
总资产FORRMP
| Q4 25 | $404.0M | $3.9B | ||
| Q3 25 | $414.2M | $3.8B | ||
| Q2 25 | $436.0M | $2.3B | ||
| Q1 25 | $439.8M | $2.4B | ||
| Q4 24 | $503.9M | $2.3B | ||
| Q3 24 | $505.3M | $2.3B | ||
| Q2 24 | $524.2M | $2.4B | ||
| Q1 24 | $555.7M | $2.4B |
负债/权益比FORRMP
| Q4 25 | — | 0.50× | ||
| Q3 25 | — | 0.51× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $-46.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $-109.3M |
| 自由现金流率自由现金流/营收 | -4.2% | -207.4% |
| 资本支出强度资本支出/营收 | 1.1% | 118.5% |
| 现金转化率经营现金流/净利润 | — | -4.97× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $-328.1M |
8季度趋势，按日历期对齐
经营现金流FORRMP
| Q4 25 | $-3.2M | $-46.9M | ||
| Q3 25 | $1.2M | $-42.0M | ||
| Q2 25 | $-3.6M | $-3.7M | ||
| Q1 25 | $26.7M | $-63.2M | ||
| Q4 24 | $-1.8M | $30.5M | ||
| Q3 24 | $264.0K | $-6.8M | ||
| Q2 24 | $-2.9M | $30.8M | ||
| Q1 24 | $611.0K | $-41.1M |
自由现金流FORRMP
| Q4 25 | $-4.3M | $-109.3M | ||
| Q3 25 | $524.0K | $-92.5M | ||
| Q2 25 | $-4.2M | $-32.7M | ||
| Q1 25 | $26.1M | $-93.7M | ||
| Q4 24 | $-2.5M | $-11.2M | ||
| Q3 24 | $-223.0K | $-53.3M | ||
| Q2 24 | $-3.7M | $-15.6M | ||
| Q1 24 | $-815.0K | $-93.0M |
自由现金流率FORRMP
| Q4 25 | -4.2% | -207.4% | ||
| Q3 25 | 0.6% | -172.8% | ||
| Q2 25 | -3.8% | -56.9% | ||
| Q1 25 | 29.0% | -154.0% | ||
| Q4 24 | -2.3% | -18.3% | ||
| Q3 24 | -0.2% | -84.7% | ||
| Q2 24 | -3.1% | -50.1% | ||
| Q1 24 | -0.8% | -191.0% |
资本支出强度FORRMP
| Q4 25 | 1.1% | 118.5% | ||
| Q3 25 | 0.7% | 94.3% | ||
| Q2 25 | 0.5% | 50.5% | ||
| Q1 25 | 0.7% | 50.1% | ||
| Q4 24 | 0.6% | 68.3% | ||
| Q3 24 | 0.5% | 73.8% | ||
| Q2 24 | 0.7% | 148.7% | ||
| Q1 24 | 1.4% | 106.5% |
现金转化率FORRMP
| Q4 25 | — | -4.97× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | -2.49× |
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% |
MP
| Materials Segment | $35.6M | 68% |
| Other | $17.1M | 32% |
