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弗雷斯特研究公司（FORR）与Planet Labs PBC（PL）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Planet Labs PBC的1.2倍（$101.1M vs $81.3M），弗雷斯特研究公司净利率更高（-33.5% vs -72.8%，领先39.3%），Planet Labs PBC同比增速更快（32.6% vs -6.5%），Planet Labs PBC自由现金流更多（$1.9M vs $-4.3M），过去两年Planet Labs PBC的营收复合增速更高（17.5% 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。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
FORR vs PL — 直观对比
营收规模更大
FORR
是对方的1.2倍
$81.3M
营收增速更快
PL
高出39.1%
-6.5%
净利率更高
FORR
高出39.3%
-72.8%
自由现金流更多
PL
多$6.2M
$-4.3M
两年增速更快
PL
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $81.3M |
| 净利润 | $-33.9M | $-59.2M |
| 毛利率 | 56.7% | 57.3% |
| 营业利润率 | -36.6% | -22.6% |
| 净利率 | -33.5% | -72.8% |
| 营收同比 | -6.5% | 32.6% |
| 净利润同比 | -7941.4% | -194.7% |
| 每股收益（稀释后） | $-1.75 | $-0.19 |
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FORRPL
| Q4 25 | $101.1M | $81.3M | ||
| Q3 25 | $94.3M | $73.4M | ||
| Q2 25 | $111.7M | $66.3M | ||
| Q1 25 | $89.9M | $61.6M | ||
| Q4 24 | $108.0M | $61.3M | ||
| Q3 24 | $102.5M | $61.1M | ||
| Q2 24 | $121.8M | $60.4M | ||
| Q1 24 | $100.1M | $58.9M |
净利润FORRPL
| Q4 25 | $-33.9M | $-59.2M | ||
| Q3 25 | $-2.1M | $-22.6M | ||
| Q2 25 | $3.9M | $-12.6M | ||
| Q1 25 | $-87.3M | $-35.2M | ||
| Q4 24 | $432.0K | $-20.1M | ||
| Q3 24 | $-5.8M | $-38.7M | ||
| Q2 24 | $6.3M | $-29.3M | ||
| Q1 24 | $-6.7M | $-30.1M |
毛利率FORRPL
| Q4 25 | 56.7% | 57.3% | ||
| Q3 25 | 60.0% | 57.6% | ||
| Q2 25 | 55.5% | 55.2% | ||
| Q1 25 | 55.9% | 62.1% | ||
| Q4 24 | 58.8% | 61.2% | ||
| Q3 24 | 60.5% | 52.9% | ||
| Q2 24 | 57.3% | 52.4% | ||
| Q1 24 | 54.9% | 55.2% |
营业利润率FORRPL
| Q4 25 | -36.6% | -22.6% | ||
| Q3 25 | 4.7% | -24.5% | ||
| Q2 25 | 6.2% | -34.4% | ||
| Q1 25 | -97.5% | -31.5% | ||
| Q4 24 | -0.5% | -36.9% | ||
| Q3 24 | -0.7% | -64.8% | ||
| Q2 24 | 9.3% | -57.2% | ||
| Q1 24 | -9.3% | -57.6% |
净利率FORRPL
| Q4 25 | -33.5% | -72.8% | ||
| Q3 25 | -2.3% | -30.8% | ||
| Q2 25 | 3.5% | -19.1% | ||
| Q1 25 | -97.1% | -57.1% | ||
| Q4 24 | 0.4% | -32.8% | ||
| Q3 24 | -5.7% | -63.3% | ||
| Q2 24 | 5.2% | -48.5% | ||
| Q1 24 | -6.7% | -51.1% |
每股收益（稀释后）FORRPL
| Q4 25 | $-1.75 | $-0.19 | ||
| Q3 25 | $-0.11 | $-0.07 | ||
| Q2 25 | $0.20 | $-0.04 | ||
| Q1 25 | $-4.62 | $-0.12 | ||
| Q4 24 | $0.02 | $-0.07 | ||
| Q3 24 | $-0.30 | $-0.13 | ||
| Q2 24 | $0.33 | $-0.10 | ||
| Q1 24 | $-0.35 | $-0.10 |
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 | $443.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $349.6M |
| 总资产 | $404.0M | $1.1B |
| 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FORRPL
| Q4 25 | $63.3M | $443.3M | ||
| Q3 25 | $65.1M | $181.1M | ||
| Q2 25 | $67.8M | $133.5M | ||
| Q1 25 | $75.6M | $118.0M | ||
| Q4 24 | $56.1M | $139.0M | ||
| Q3 24 | $62.8M | $148.3M | ||
| Q2 24 | $58.9M | $107.4M | ||
| Q1 24 | $61.4M | $83.9M |
股东权益FORRPL
| Q4 25 | $126.5M | $349.6M | ||
| Q3 25 | $157.7M | $435.7M | ||
| Q2 25 | $159.5M | $444.8M | ||
| Q1 25 | $147.4M | $441.3M | ||
| Q4 24 | $229.5M | $464.6M | ||
| Q3 24 | $234.3M | $473.2M | ||
| Q2 24 | $237.1M | $500.3M | ||
| Q1 24 | $230.9M | $518.0M |
总资产FORRPL
| Q4 25 | $404.0M | $1.1B | ||
| Q3 25 | $414.2M | $696.4M | ||
| Q2 25 | $436.0M | $658.4M | ||
| Q1 25 | $439.8M | $633.8M | ||
| Q4 24 | $503.9M | $630.8M | ||
| Q3 24 | $505.3M | $658.4M | ||
| Q2 24 | $524.2M | $674.6M | ||
| Q1 24 | $555.7M | $702.0M |
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 | $28.6M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $1.9M |
| 自由现金流率自由现金流/营收 | -4.2% | 2.3% |
| 资本支出强度资本支出/营收 | 1.1% | 32.9% |
| 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 | $40.7M |
8季度趋势，按日历期对齐
经营现金流FORRPL
| Q4 25 | $-3.2M | $28.6M | ||
| Q3 25 | $1.2M | $67.8M | ||
| Q2 25 | $-3.6M | $17.3M | ||
| Q1 25 | $26.7M | $-6.3M | ||
| Q4 24 | $-1.8M | $4.1M | ||
| Q3 24 | $264.0K | $-7.9M | ||
| Q2 24 | $-2.9M | $-4.3M | ||
| Q1 24 | $611.0K | $-6.8M |
自由现金流FORRPL
| Q4 25 | $-4.3M | $1.9M | ||
| Q3 25 | $524.0K | $47.5M | ||
| Q2 25 | $-4.2M | $9.2M | ||
| Q1 25 | $26.1M | $-17.9M | ||
| Q4 24 | $-2.5M | $-3.6M | ||
| Q3 24 | $-223.0K | $-23.0M | ||
| Q2 24 | $-3.7M | $-14.2M | ||
| Q1 24 | $-815.0K | $-15.7M |
自由现金流率FORRPL
| Q4 25 | -4.2% | 2.3% | ||
| Q3 25 | 0.6% | 64.7% | ||
| Q2 25 | -3.8% | 13.9% | ||
| Q1 25 | 29.0% | -29.1% | ||
| Q4 24 | -2.3% | -5.8% | ||
| Q3 24 | -0.2% | -37.6% | ||
| Q2 24 | -3.1% | -23.6% | ||
| Q1 24 | -0.8% | -26.7% |
资本支出强度FORRPL
| Q4 25 | 1.1% | 32.9% | ||
| Q3 25 | 0.7% | 27.6% | ||
| Q2 25 | 0.5% | 12.3% | ||
| Q1 25 | 0.7% | 18.9% | ||
| Q4 24 | 0.6% | 12.5% | ||
| Q3 24 | 0.5% | 24.8% | ||
| Q2 24 | 0.7% | 16.4% | ||
| Q1 24 | 1.4% | 15.1% |
现金转化率FORRPL
| 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% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
