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弗雷斯特研究公司（FORR）与Ingevity Corp（NGVT）财务数据对比。点击上方公司名可切换其他公司
Ingevity Corp的季度营收约是弗雷斯特研究公司的1.8倍（$185.4M vs $101.1M），弗雷斯特研究公司净利率更高（-33.5% vs -45.6%，领先12.1%），Ingevity Corp同比增速更快（36.7% vs -6.5%），Ingevity Corp自由现金流更多（$73.5M 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 -26.2%）
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。
Ingevity Corp是一家全球特种化学品与先进材料生产商，主营高性能碳材料、路面养护解决方案及特种化工产品，服务汽车排放控制、工业净化、道路基建、农业投入品等核心市场，业务覆盖北美、欧洲及亚太地区。
FORR vs NGVT — 直观对比
营收规模更大
NGVT
是对方的1.8倍
$101.1M
营收增速更快
NGVT
高出43.2%
-6.5%
净利率更高
FORR
高出12.1%
-45.6%
自由现金流更多
NGVT
多$77.8M
$-4.3M
两年增速更快
FORR
近两年复合增速
-26.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $185.4M |
| 净利润 | $-33.9M | $-84.6M |
| 毛利率 | 56.7% | 41.2% |
| 营业利润率 | -36.6% | -47.7% |
| 净利率 | -33.5% | -45.6% |
| 营收同比 | -6.5% | 36.7% |
| 净利润同比 | -7941.4% | -609.6% |
| 每股收益（稀释后） | $-1.75 | $-2.33 |
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FORRNGVT
| Q4 25 | $101.1M | $185.4M | ||
| Q3 25 | $94.3M | $333.1M | ||
| Q2 25 | $111.7M | $365.1M | ||
| Q1 25 | $89.9M | $284.0M | ||
| Q4 24 | $108.0M | $135.6M | ||
| Q3 24 | $102.5M | $333.8M | ||
| Q2 24 | $121.8M | $390.6M | ||
| Q1 24 | $100.1M | $340.1M |
净利润FORRNGVT
| Q4 25 | $-33.9M | $-84.6M | ||
| Q3 25 | $-2.1M | $43.5M | ||
| Q2 25 | $3.9M | $-146.5M | ||
| Q1 25 | $-87.3M | $20.5M | ||
| Q4 24 | $432.0K | $16.6M | ||
| Q3 24 | $-5.8M | $-107.2M | ||
| Q2 24 | $6.3M | $-283.7M | ||
| Q1 24 | $-6.7M | $-56.0M |
毛利率FORRNGVT
| Q4 25 | 56.7% | 41.2% | ||
| Q3 25 | 60.0% | 40.2% | ||
| Q2 25 | 55.5% | 37.8% | ||
| Q1 25 | 55.9% | 39.9% | ||
| Q4 24 | 58.8% | 81.3% | ||
| Q3 24 | 60.5% | 39.4% | ||
| Q2 24 | 57.3% | 31.5% | ||
| Q1 24 | 54.9% | 29.3% |
营业利润率FORRNGVT
| Q4 25 | -36.6% | -47.7% | ||
| Q3 25 | 4.7% | 18.7% | ||
| Q2 25 | 6.2% | -39.1% | ||
| Q1 25 | -97.5% | 9.4% | ||
| Q4 24 | -0.5% | — | ||
| Q3 24 | -0.7% | 33.0% | ||
| Q2 24 | 9.3% | 25.9% | ||
| Q1 24 | -9.3% | 22.6% |
净利率FORRNGVT
| Q4 25 | -33.5% | -45.6% | ||
| Q3 25 | -2.3% | 13.1% | ||
| Q2 25 | 3.5% | -40.1% | ||
| Q1 25 | -97.1% | 7.2% | ||
| Q4 24 | 0.4% | 12.2% | ||
| Q3 24 | -5.7% | -32.1% | ||
| Q2 24 | 5.2% | -72.6% | ||
| Q1 24 | -6.7% | -16.5% |
每股收益（稀释后）FORRNGVT
| Q4 25 | $-1.75 | $-2.33 | ||
| Q3 25 | $-0.11 | $1.18 | ||
| Q2 25 | $0.20 | $-4.02 | ||
| Q1 25 | $-4.62 | $0.56 | ||
| Q4 24 | $0.02 | $0.44 | ||
| Q3 24 | $-0.30 | $-2.94 | ||
| Q2 24 | $0.33 | $-7.81 | ||
| Q1 24 | $-0.35 | $-1.54 |
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 | $78.1M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $126.5M | $29.7M |
| 总资产 | $404.0M | $1.7B |
| 负债/权益比越低杠杆越低 | — | 39.10× |
8季度趋势，按日历期对齐
现金及短期投资FORRNGVT
| Q4 25 | $63.3M | $78.1M | ||
| Q3 25 | $65.1M | $83.4M | ||
| Q2 25 | $67.8M | $76.9M | ||
| Q1 25 | $75.6M | $71.5M | ||
| Q4 24 | $56.1M | $68.0M | ||
| Q3 24 | $62.8M | $135.5M | ||
| Q2 24 | $58.9M | $107.4M | ||
| Q1 24 | $61.4M | $88.5M |
总债务FORRNGVT
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.4B |
股东权益FORRNGVT
| Q4 25 | $126.5M | $29.7M | ||
| Q3 25 | $157.7M | $138.1M | ||
| Q2 25 | $159.5M | $120.7M | ||
| Q1 25 | $147.4M | $234.6M | ||
| Q4 24 | $229.5M | $195.2M | ||
| Q3 24 | $234.3M | $214.5M | ||
| Q2 24 | $237.1M | $284.8M | ||
| Q1 24 | $230.9M | $568.2M |
总资产FORRNGVT
| Q4 25 | $404.0M | $1.7B | ||
| Q3 25 | $414.2M | $1.8B | ||
| Q2 25 | $436.0M | $1.9B | ||
| Q1 25 | $439.8M | $2.1B | ||
| Q4 24 | $503.9M | $2.0B | ||
| Q3 24 | $505.3M | $2.2B | ||
| Q2 24 | $524.2M | $2.3B | ||
| Q1 24 | $555.7M | $2.6B |
负债/权益比FORRNGVT
| Q4 25 | — | 39.10× | ||
| Q3 25 | — | 8.39× | ||
| Q2 25 | — | 10.24× | ||
| Q1 25 | — | 5.68× | ||
| Q4 24 | — | 6.86× | ||
| Q3 24 | — | 6.52× | ||
| Q2 24 | — | 4.92× | ||
| Q1 24 | — | 2.48× |
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 | $97.1M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $73.5M |
| 自由现金流率自由现金流/营收 | -4.2% | 39.6% |
| 资本支出强度资本支出/营收 | 1.1% | 12.7% |
| 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 | $273.5M |
8季度趋势，按日历期对齐
经营现金流FORRNGVT
| Q4 25 | $-3.2M | $97.1M | ||
| Q3 25 | $1.2M | $129.7M | ||
| Q2 25 | $-3.6M | $79.0M | ||
| Q1 25 | $26.7M | $25.4M | ||
| Q4 24 | $-1.8M | $64.5M | ||
| Q3 24 | $264.0K | $46.5M | ||
| Q2 24 | $-2.9M | $29.7M | ||
| Q1 24 | $611.0K | $-12.1M |
自由现金流FORRNGVT
| Q4 25 | $-4.3M | $73.5M | ||
| Q3 25 | $524.0K | $117.8M | ||
| Q2 25 | $-4.2M | $66.8M | ||
| Q1 25 | $26.1M | $15.4M | ||
| Q4 24 | $-2.5M | $39.6M | ||
| Q3 24 | $-223.0K | $28.5M | ||
| Q2 24 | $-3.7M | $11.6M | ||
| Q1 24 | $-815.0K | $-28.7M |
自由现金流率FORRNGVT
| Q4 25 | -4.2% | 39.6% | ||
| Q3 25 | 0.6% | 35.4% | ||
| Q2 25 | -3.8% | 18.3% | ||
| Q1 25 | 29.0% | 5.4% | ||
| Q4 24 | -2.3% | 29.2% | ||
| Q3 24 | -0.2% | 8.5% | ||
| Q2 24 | -3.1% | 3.0% | ||
| Q1 24 | -0.8% | -8.4% |
资本支出强度FORRNGVT
| Q4 25 | 1.1% | 12.7% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 0.5% | 3.3% | ||
| Q1 25 | 0.7% | 3.5% | ||
| Q4 24 | 0.6% | 18.4% | ||
| Q3 24 | 0.5% | 5.4% | ||
| Q2 24 | 0.7% | 4.6% | ||
| Q1 24 | 1.4% | 4.9% |
现金转化率FORRNGVT
| Q4 25 | — | — | ||
| Q3 25 | — | 2.98× | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | -4.24× | 3.89× | ||
| Q3 24 | — | — | ||
| 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% |
NGVT
| Performance Materials | $151.2M | 82% |
| Advanced Polymer Technologies Segment | $36.5M | 20% |
