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弗雷斯特研究公司（FORR）与CPI Card Group Inc.（PMTS）财务数据对比。点击上方公司名可切换其他公司
CPI Card Group Inc.的季度营收约是弗雷斯特研究公司的1.5倍（$153.1M vs $101.1M），CPI Card Group Inc.净利率更高（4.8% vs -33.5%，领先38.3%），CPI Card Group Inc.同比增速更快（22.3% vs -6.5%），CPI Card Group Inc.自由现金流更多（$35.2M vs $-4.3M），过去两年CPI Card Group Inc.的营收复合增速更高（16.9% 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。
CPI Card Group Inc.是知名的支付卡生产及配套解决方案供应商，主营接触式、非接触式信用卡、借记卡、预付卡的制造与个性化定制服务，客户以北美地区的金融机构、金融科技企业及零售品牌为主。
FORR vs PMTS — 直观对比
营收规模更大
PMTS
是对方的1.5倍
$101.1M
营收增速更快
PMTS
高出28.8%
-6.5%
净利率更高
PMTS
高出38.3%
-33.5%
自由现金流更多
PMTS
多$39.5M
$-4.3M
两年增速更快
PMTS
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $153.1M |
| 净利润 | $-33.9M | $7.3M |
| 毛利率 | 56.7% | 31.5% |
| 营业利润率 | -36.6% | 12.0% |
| 净利率 | -33.5% | 4.8% |
| 营收同比 | -6.5% | 22.3% |
| 净利润同比 | -7941.4% | 8.5% |
| 每股收益（稀释后） | $-1.75 | $0.62 |
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FORRPMTS
| Q4 25 | $101.1M | $153.1M | ||
| Q3 25 | $94.3M | $138.0M | ||
| Q2 25 | $111.7M | $129.8M | ||
| Q1 25 | $89.9M | $122.8M | ||
| Q4 24 | $108.0M | $125.1M | ||
| Q3 24 | $102.5M | $124.8M | ||
| Q2 24 | $121.8M | $118.8M | ||
| Q1 24 | $100.1M | $111.9M |
净利润FORRPMTS
| Q4 25 | $-33.9M | $7.3M | ||
| Q3 25 | $-2.1M | $2.3M | ||
| Q2 25 | $3.9M | $518.0K | ||
| Q1 25 | $-87.3M | $4.8M | ||
| Q4 24 | $432.0K | $6.8M | ||
| Q3 24 | $-5.8M | $1.3M | ||
| Q2 24 | $6.3M | $6.0M | ||
| Q1 24 | $-6.7M | $5.5M |
毛利率FORRPMTS
| Q4 25 | 56.7% | 31.5% | ||
| Q3 25 | 60.0% | 29.7% | ||
| Q2 25 | 55.5% | 30.9% | ||
| Q1 25 | 55.9% | 33.2% | ||
| Q4 24 | 58.8% | 34.1% | ||
| Q3 24 | 60.5% | 35.8% | ||
| Q2 24 | 57.3% | 35.7% | ||
| Q1 24 | 54.9% | 37.1% |
营业利润率FORRPMTS
| Q4 25 | -36.6% | 12.0% | ||
| Q3 25 | 4.7% | 9.4% | ||
| Q2 25 | 6.2% | 7.3% | ||
| Q1 25 | -97.5% | 11.5% | ||
| Q4 24 | -0.5% | 12.7% | ||
| Q3 24 | -0.7% | 14.3% | ||
| Q2 24 | 9.3% | 12.5% | ||
| Q1 24 | -9.3% | 12.6% |
净利率FORRPMTS
| Q4 25 | -33.5% | 4.8% | ||
| Q3 25 | -2.3% | 1.7% | ||
| Q2 25 | 3.5% | 0.4% | ||
| Q1 25 | -97.1% | 3.9% | ||
| Q4 24 | 0.4% | 5.4% | ||
| Q3 24 | -5.7% | 1.0% | ||
| Q2 24 | 5.2% | 5.1% | ||
| Q1 24 | -6.7% | 4.9% |
每股收益（稀释后）FORRPMTS
| Q4 25 | $-1.75 | $0.62 | ||
| Q3 25 | $-0.11 | $0.19 | ||
| Q2 25 | $0.20 | $0.04 | ||
| Q1 25 | $-4.62 | $0.40 | ||
| Q4 24 | $0.02 | $0.56 | ||
| Q3 24 | $-0.30 | $0.11 | ||
| Q2 24 | $0.33 | $0.51 | ||
| Q1 24 | $-0.35 | $0.46 |
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 | $21.7M |
| 总债务越低越好 | — | $286.7M |
| 股东权益账面价值 | $126.5M | $-17.3M |
| 总资产 | $404.0M | $403.2M |
| 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FORRPMTS
| Q4 25 | $63.3M | $21.7M | ||
| Q3 25 | $65.1M | $16.0M | ||
| Q2 25 | $67.8M | $17.1M | ||
| Q1 25 | $75.6M | $31.5M | ||
| Q4 24 | $56.1M | $33.5M | ||
| Q3 24 | $62.8M | $14.7M | ||
| Q2 24 | $58.9M | $7.5M | ||
| Q1 24 | $61.4M | $17.1M |
总债务FORRPMTS
| Q4 25 | — | $286.7M | ||
| Q3 25 | — | $308.4M | ||
| Q2 25 | — | $310.9M | ||
| Q1 25 | — | $280.7M | ||
| Q4 24 | — | $280.4M | ||
| Q3 24 | — | $280.2M | ||
| Q2 24 | — | $269.7M | ||
| Q1 24 | — | $265.3M |
股东权益FORRPMTS
| Q4 25 | $126.5M | $-17.3M | ||
| Q3 25 | $157.7M | $-25.7M | ||
| Q2 25 | $159.5M | $-29.0M | ||
| Q1 25 | $147.4M | $-29.7M | ||
| Q4 24 | $229.5M | $-35.6M | ||
| Q3 24 | $234.3M | $-42.8M | ||
| Q2 24 | $237.1M | $-44.6M | ||
| Q1 24 | $230.9M | $-48.5M |
总资产FORRPMTS
| Q4 25 | $404.0M | $403.2M | ||
| Q3 25 | $414.2M | $407.1M | ||
| Q2 25 | $436.0M | $399.8M | ||
| Q1 25 | $439.8M | $351.9M | ||
| Q4 24 | $503.9M | $349.7M | ||
| Q3 24 | $505.3M | $342.3M | ||
| Q2 24 | $524.2M | $321.4M | ||
| Q1 24 | $555.7M | $319.8M |
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 | $39.6M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $35.2M |
| 自由现金流率自由现金流/营收 | -4.2% | 23.0% |
| 资本支出强度资本支出/营收 | 1.1% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 5.39× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $41.3M |
8季度趋势，按日历期对齐
经营现金流FORRPMTS
| Q4 25 | $-3.2M | $39.6M | ||
| Q3 25 | $1.2M | $10.0M | ||
| Q2 25 | $-3.6M | $4.3M | ||
| Q1 25 | $26.7M | $5.6M | ||
| Q4 24 | $-1.8M | $26.7M | ||
| Q3 24 | $264.0K | $12.5M | ||
| Q2 24 | $-2.9M | $-4.8M | ||
| Q1 24 | $611.0K | $8.9M |
自由现金流FORRPMTS
| Q4 25 | $-4.3M | $35.2M | ||
| Q3 25 | $524.0K | $5.3M | ||
| Q2 25 | $-4.2M | $533.0K | ||
| Q1 25 | $26.1M | $292.0K | ||
| Q4 24 | $-2.5M | $21.6M | ||
| Q3 24 | $-223.0K | $11.1M | ||
| Q2 24 | $-3.7M | $-6.0M | ||
| Q1 24 | $-815.0K | $7.4M |
自由现金流率FORRPMTS
| Q4 25 | -4.2% | 23.0% | ||
| Q3 25 | 0.6% | 3.8% | ||
| Q2 25 | -3.8% | 0.4% | ||
| Q1 25 | 29.0% | 0.2% | ||
| Q4 24 | -2.3% | 17.3% | ||
| Q3 24 | -0.2% | 8.9% | ||
| Q2 24 | -3.1% | -5.0% | ||
| Q1 24 | -0.8% | 6.6% |
资本支出强度FORRPMTS
| Q4 25 | 1.1% | 2.9% | ||
| Q3 25 | 0.7% | 3.4% | ||
| Q2 25 | 0.5% | 2.9% | ||
| Q1 25 | 0.7% | 4.3% | ||
| Q4 24 | 0.6% | 4.0% | ||
| Q3 24 | 0.5% | 1.2% | ||
| Q2 24 | 0.7% | 1.0% | ||
| Q1 24 | 1.4% | 1.3% |
现金转化率FORRPMTS
| Q4 25 | — | 5.39× | ||
| Q3 25 | — | 4.32× | ||
| Q2 25 | -0.93× | 8.39× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | -4.24× | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | -0.46× | -0.79× | ||
| Q1 24 | — | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
