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弗雷斯特研究公司（FORR）与Pacira BioSciences, Inc.（PCRX）财务数据对比。点击上方公司名可切换其他公司
Pacira BioSciences, Inc.的季度营收约是弗雷斯特研究公司的1.8倍（$177.4M vs $101.1M），Pacira BioSciences, Inc.净利率更高（1.6% vs -33.5%，领先35.2%），Pacira BioSciences, Inc.同比增速更快（5.0% vs -6.5%），过去两年弗雷斯特研究公司的营收复合增速更高（0.5% vs -0.2%）
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。
Pacira BioSciences是一家专科制药企业，专注于非阿片类疼痛管理药物的研发与商业化，核心产品线面向术后镇痛场景，服务以美国为主的医院、门诊手术中心等医疗服务机构，同时推进部分国际市场的拓展工作。
FORR vs PCRX — 直观对比
营收规模更大
PCRX
是对方的1.8倍
$101.1M
营收增速更快
PCRX
高出11.5%
-6.5%
净利率更高
PCRX
高出35.2%
-33.5%
两年增速更快
FORR
近两年复合增速
-0.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $177.4M |
| 净利润 | $-33.9M | $2.9M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | 3.9% |
| 净利率 | -33.5% | 1.6% |
| 营收同比 | -6.5% | 5.0% |
| 净利润同比 | -7941.4% | — |
| 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FORRPCRX
| Q1 26 | — | $177.4M | ||
| Q4 25 | $101.1M | $196.9M | ||
| Q3 25 | $94.3M | $179.5M | ||
| Q2 25 | $111.7M | $181.1M | ||
| Q1 25 | $89.9M | $168.9M | ||
| Q4 24 | $108.0M | $187.3M | ||
| Q3 24 | $102.5M | $168.6M | ||
| Q2 24 | $121.8M | $178.0M |
净利润FORRPCRX
| Q1 26 | — | $2.9M | ||
| Q4 25 | $-33.9M | — | ||
| Q3 25 | $-2.1M | $5.4M | ||
| Q2 25 | $3.9M | $-4.8M | ||
| Q1 25 | $-87.3M | $4.8M | ||
| Q4 24 | $432.0K | — | ||
| Q3 24 | $-5.8M | $-143.5M | ||
| Q2 24 | $6.3M | $18.9M |
毛利率FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | 56.7% | 79.5% | ||
| Q3 25 | 60.0% | 80.9% | ||
| Q2 25 | 55.5% | 77.4% | ||
| Q1 25 | 55.9% | 79.7% | ||
| Q4 24 | 58.8% | 78.7% | ||
| Q3 24 | 60.5% | 76.9% | ||
| Q2 24 | 57.3% | 75.1% |
营业利润率FORRPCRX
| Q1 26 | — | 3.9% | ||
| Q4 25 | -36.6% | 1.2% | ||
| Q3 25 | 4.7% | 3.5% | ||
| Q2 25 | 6.2% | 4.7% | ||
| Q1 25 | -97.5% | 1.2% | ||
| Q4 24 | -0.5% | 13.2% | ||
| Q3 24 | -0.7% | -82.8% | ||
| Q2 24 | 9.3% | 15.9% |
净利率FORRPCRX
| Q1 26 | — | 1.6% | ||
| Q4 25 | -33.5% | — | ||
| Q3 25 | -2.3% | 3.0% | ||
| Q2 25 | 3.5% | -2.7% | ||
| Q1 25 | -97.1% | 2.8% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | -5.7% | -85.1% | ||
| Q2 24 | 5.2% | 10.6% |
每股收益（稀释后）FORRPCRX
| Q1 26 | — | $0.07 | ||
| Q4 25 | $-1.75 | $0.05 | ||
| Q3 25 | $-0.11 | $0.12 | ||
| Q2 25 | $0.20 | $-0.11 | ||
| Q1 25 | $-4.62 | $0.10 | ||
| Q4 24 | $0.02 | $0.38 | ||
| Q3 24 | $-0.30 | $-3.11 | ||
| Q2 24 | $0.33 | $0.39 |
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 | $144.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $653.9M |
| 总资产 | $404.0M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FORRPCRX
| Q1 26 | — | $144.3M | ||
| Q4 25 | $63.3M | $238.4M | ||
| Q3 25 | $65.1M | $246.3M | ||
| Q2 25 | $67.8M | $445.9M | ||
| Q1 25 | $75.6M | $493.6M | ||
| Q4 24 | $56.1M | $484.6M | ||
| Q3 24 | $62.8M | $453.8M | ||
| Q2 24 | $58.9M | $404.2M |
总债务FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | — | $372.2M | ||
| Q3 25 | — | $376.7M | ||
| Q2 25 | — | $580.5M | ||
| Q1 25 | — | $583.4M | ||
| Q4 24 | — | $585.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FORRPCRX
| Q1 26 | — | $653.9M | ||
| Q4 25 | $126.5M | $693.1M | ||
| Q3 25 | $157.7M | $727.2M | ||
| Q2 25 | $159.5M | $757.8M | ||
| Q1 25 | $147.4M | $798.5M | ||
| Q4 24 | $229.5M | $778.3M | ||
| Q3 24 | $234.3M | $749.6M | ||
| Q2 24 | $237.1M | $879.3M |
总资产FORRPCRX
| Q1 26 | — | $1.2B | ||
| Q4 25 | $404.0M | $1.3B | ||
| Q3 25 | $414.2M | $1.3B | ||
| Q2 25 | $436.0M | $1.5B | ||
| Q1 25 | $439.8M | $1.6B | ||
| Q4 24 | $503.9M | $1.6B | ||
| Q3 24 | $505.3M | $1.5B | ||
| Q2 24 | $524.2M | $1.6B |
负债/权益比FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | — |
| 自由现金流率自由现金流/营收 | -4.2% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $43.7M | ||
| Q3 25 | $1.2M | $60.8M | ||
| Q2 25 | $-3.6M | $12.0M | ||
| Q1 25 | $26.7M | $35.5M | ||
| Q4 24 | $-1.8M | $33.1M | ||
| Q3 24 | $264.0K | $53.9M | ||
| Q2 24 | $-2.9M | $53.2M |
自由现金流FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $43.5M | ||
| Q3 25 | $524.0K | $57.0M | ||
| Q2 25 | $-4.2M | $9.3M | ||
| Q1 25 | $26.1M | $26.9M | ||
| Q4 24 | $-2.5M | $31.0M | ||
| Q3 24 | $-223.0K | $49.8M | ||
| Q2 24 | $-3.7M | $51.6M |
自由现金流率FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 22.1% | ||
| Q3 25 | 0.6% | 31.7% | ||
| Q2 25 | -3.8% | 5.1% | ||
| Q1 25 | 29.0% | 15.9% | ||
| Q4 24 | -2.3% | 16.6% | ||
| Q3 24 | -0.2% | 29.6% | ||
| Q2 24 | -3.1% | 29.0% |
资本支出强度FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 0.1% | ||
| Q3 25 | 0.7% | 2.2% | ||
| Q2 25 | 0.5% | 1.5% | ||
| Q1 25 | 0.7% | 5.1% | ||
| Q4 24 | 0.6% | 1.1% | ||
| Q3 24 | 0.5% | 2.4% | ||
| Q2 24 | 0.7% | 0.9% |
现金转化率FORRPCRX
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 11.20× | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | 7.37× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | 2.82× |
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% |
PCRX
| EXPAREL | $143.3M | 81% |
| ZILRETTA | $26.8M | 15% |
| iovera° | $6.2M | 3% |
| Bupivacaine liposome injectable suspension | $1.2M | 1% |
