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弗雷斯特研究公司（FORR）与Inotiv, Inc.（NOTV）财务数据对比。点击上方公司名可切换其他公司
Inotiv, Inc.的季度营收约是弗雷斯特研究公司的1.2倍（$120.9M vs $101.1M），Inotiv, Inc.净利率更高（-23.5% vs -33.5%，领先10.0%），Inotiv, Inc.同比增速更快（0.8% vs -6.5%），弗雷斯特研究公司自由现金流更多（$-4.3M vs $-10.6M），过去两年Inotiv, Inc.的营收复合增速更高（0.8% 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。
Inotiv公司是一家注册于美国印第安纳州的合同研究组织，总部位于该州拉斐特市。公司设有两大核心业务板块：发现与安全评估业务（DSA）以及研究模型与服务业务（RMS），可为小分子候选药物、生物治疗产品及生物医疗设备提供安全评估、分析、代谢研究、CMC及法规咨询等药物开发与环境科学相关服务。
FORR vs NOTV — 直观对比
营收规模更大
NOTV
是对方的1.2倍
$101.1M
营收增速更快
NOTV
高出7.3%
-6.5%
净利率更高
NOTV
高出10.0%
-33.5%
自由现金流更多
FORR
多$6.3M
$-10.6M
两年增速更快
NOTV
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $120.9M |
| 净利润 | $-33.9M | $-28.4M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | -13.5% |
| 净利率 | -33.5% | -23.5% |
| 营收同比 | -6.5% | 0.8% |
| 净利润同比 | -7941.4% | -2.7% |
| 每股收益（稀释后） | $-1.75 | $-0.83 |
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FORRNOTV
| Q4 25 | $101.1M | $120.9M | ||
| Q3 25 | $94.3M | $138.1M | ||
| Q2 25 | $111.7M | $130.7M | ||
| Q1 25 | $89.9M | $124.3M | ||
| Q4 24 | $108.0M | $119.9M | ||
| Q3 24 | $102.5M | $130.4M | ||
| Q2 24 | $121.8M | $105.8M | ||
| Q1 24 | $100.1M | $119.0M |
净利润FORRNOTV
| Q4 25 | $-33.9M | $-28.4M | ||
| Q3 25 | $-2.1M | $-8.6M | ||
| Q2 25 | $3.9M | $-17.6M | ||
| Q1 25 | $-87.3M | $-14.9M | ||
| Q4 24 | $432.0K | $-27.6M | ||
| Q3 24 | $-5.8M | $-18.9M | ||
| Q2 24 | $6.3M | $-26.1M | ||
| Q1 24 | $-6.7M | $-48.1M |
毛利率FORRNOTV
| 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FORRNOTV
| Q4 25 | -36.6% | -13.5% | ||
| Q3 25 | 4.7% | -4.9% | ||
| Q2 25 | 6.2% | -4.3% | ||
| Q1 25 | -97.5% | -2.4% | ||
| Q4 24 | -0.5% | -12.9% | ||
| Q3 24 | -0.7% | -10.1% | ||
| Q2 24 | 9.3% | -19.6% | ||
| Q1 24 | -9.3% | -36.2% |
净利率FORRNOTV
| Q4 25 | -33.5% | -23.5% | ||
| Q3 25 | -2.3% | -6.2% | ||
| Q2 25 | 3.5% | -13.5% | ||
| Q1 25 | -97.1% | -12.0% | ||
| Q4 24 | 0.4% | -23.0% | ||
| Q3 24 | -5.7% | -14.5% | ||
| Q2 24 | 5.2% | -24.7% | ||
| Q1 24 | -6.7% | -40.4% |
每股收益（稀释后）FORRNOTV
| Q4 25 | $-1.75 | $-0.83 | ||
| Q3 25 | $-0.11 | $-0.14 | ||
| Q2 25 | $0.20 | $-0.51 | ||
| Q1 25 | $-4.62 | $-0.44 | ||
| Q4 24 | $0.02 | $-1.02 | ||
| Q3 24 | $-0.30 | $-0.73 | ||
| Q2 24 | $0.33 | $-1.00 | ||
| Q1 24 | $-0.35 | $-1.86 |
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 | $12.7M |
| 总债务越低越好 | — | $405.8M |
| 股东权益账面价值 | $126.5M | $109.0M |
| 总资产 | $404.0M | $734.3M |
| 负债/权益比越低杠杆越低 | — | 3.72× |
8季度趋势，按日历期对齐
现金及短期投资FORRNOTV
| Q4 25 | $63.3M | $12.7M | ||
| Q3 25 | $65.1M | $21.7M | ||
| Q2 25 | $67.8M | $6.2M | ||
| Q1 25 | $75.6M | $19.3M | ||
| Q4 24 | $56.1M | $38.0M | ||
| Q3 24 | $62.8M | $21.4M | ||
| Q2 24 | $58.9M | $14.4M | ||
| Q1 24 | $61.4M | $32.7M |
总债务FORRNOTV
| Q4 25 | — | $405.8M | ||
| Q3 25 | — | $402.1M | ||
| Q2 25 | — | $396.5M | ||
| Q1 25 | — | $399.5M | ||
| Q4 24 | — | $396.0M | ||
| Q3 24 | — | $393.3M | ||
| Q2 24 | — | $382.4M | ||
| Q1 24 | — | $380.6M |
股东权益FORRNOTV
| Q4 25 | $126.5M | $109.0M | ||
| Q3 25 | $157.7M | $136.0M | ||
| Q2 25 | $159.5M | $143.8M | ||
| Q1 25 | $147.4M | $157.7M | ||
| Q4 24 | $229.5M | $169.8M | ||
| Q3 24 | $234.3M | $170.5M | ||
| Q2 24 | $237.1M | $182.1M | ||
| Q1 24 | $230.9M | $207.2M |
总资产FORRNOTV
| Q4 25 | $404.0M | $734.3M | ||
| Q3 25 | $414.2M | $771.1M | ||
| Q2 25 | $436.0M | $759.7M | ||
| Q1 25 | $439.8M | $766.0M | ||
| Q4 24 | $503.9M | $772.9M | ||
| Q3 24 | $505.3M | $781.4M | ||
| Q2 24 | $524.2M | $774.6M | ||
| Q1 24 | $555.7M | $815.4M |
负债/权益比FORRNOTV
| Q4 25 | — | 3.72× | ||
| Q3 25 | — | 2.96× | ||
| Q2 25 | — | 2.76× | ||
| Q1 25 | — | 2.53× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | — | 2.31× | ||
| Q2 24 | — | 2.10× | ||
| Q1 24 | — | 1.84× |
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 | $-5.4M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $-10.6M |
| 自由现金流率自由现金流/营收 | -4.2% | -8.8% |
| 资本支出强度资本支出/营收 | 1.1% | 4.3% |
| 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 | $-28.7M |
8季度趋势，按日历期对齐
经营现金流FORRNOTV
| Q4 25 | $-3.2M | $-5.4M | ||
| Q3 25 | $1.2M | $14.3M | ||
| Q2 25 | $-3.6M | $-7.4M | ||
| Q1 25 | $26.7M | $-12.8M | ||
| Q4 24 | $-1.8M | $-4.5M | ||
| Q3 24 | $264.0K | $-2.4M | ||
| Q2 24 | $-2.9M | $-14.8M | ||
| Q1 24 | $611.0K | $16.9M |
自由现金流FORRNOTV
| Q4 25 | $-4.3M | $-10.6M | ||
| Q3 25 | $524.0K | $11.6M | ||
| Q2 25 | $-4.2M | $-11.5M | ||
| Q1 25 | $26.1M | $-18.3M | ||
| Q4 24 | $-2.5M | $-9.0M | ||
| Q3 24 | $-223.0K | $-7.7M | ||
| Q2 24 | $-3.7M | $-19.2M | ||
| Q1 24 | $-815.0K | $9.9M |
自由现金流率FORRNOTV
| Q4 25 | -4.2% | -8.8% | ||
| Q3 25 | 0.6% | 8.4% | ||
| Q2 25 | -3.8% | -8.8% | ||
| Q1 25 | 29.0% | -14.7% | ||
| Q4 24 | -2.3% | -7.5% | ||
| Q3 24 | -0.2% | -5.9% | ||
| Q2 24 | -3.1% | -18.2% | ||
| Q1 24 | -0.8% | 8.3% |
资本支出强度FORRNOTV
| Q4 25 | 1.1% | 4.3% | ||
| Q3 25 | 0.7% | 1.9% | ||
| Q2 25 | 0.5% | 3.1% | ||
| Q1 25 | 0.7% | 4.4% | ||
| Q4 24 | 0.6% | 3.7% | ||
| Q3 24 | 0.5% | 4.1% | ||
| Q2 24 | 0.7% | 4.2% | ||
| Q1 24 | 1.4% | 5.9% |
现金转化率FORRNOTV
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| 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% |
NOTV
| Research Models And Services Segment | $72.9M | 60% |
| Discovery And Safety Assessment Segment | $48.0M | 40% |
