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弗雷斯特研究公司（FORR）与QUALYS, INC.（QLYS）财务数据对比。点击上方公司名可切换其他公司
QUALYS, INC.的季度营收约是弗雷斯特研究公司的1.7倍（$175.3M vs $101.1M），QUALYS, INC.净利率更高（30.3% vs -33.5%，领先63.8%），QUALYS, INC.同比增速更快（10.1% vs -6.5%），QUALYS, INC.自由现金流更多（$74.9M vs $-4.3M），过去两年QUALYS, INC.的营收复合增速更高（9.6% 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。
Qualys是总部位于美国加利福尼亚州福斯特城的科技企业，专注于云安全、合规管理及相关服务，为客户提供覆盖云环境的安全防护与合规解决方案，助力企业应对各类网络安全风险，满足不同行业的合规运营需求。
FORR vs QLYS — 直观对比
营收规模更大
QLYS
是对方的1.7倍
$101.1M
营收增速更快
QLYS
高出16.6%
-6.5%
净利率更高
QLYS
高出63.8%
-33.5%
自由现金流更多
QLYS
多$79.2M
$-4.3M
两年增速更快
QLYS
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $175.3M |
| 净利润 | $-33.9M | $53.1M |
| 毛利率 | 56.7% | 83.4% |
| 营业利润率 | -36.6% | 33.6% |
| 净利率 | -33.5% | 30.3% |
| 营收同比 | -6.5% | 10.1% |
| 净利润同比 | -7941.4% | 20.9% |
| 每股收益（稀释后） | $-1.75 | $1.47 |
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FORRQLYS
| Q4 25 | $101.1M | $175.3M | ||
| Q3 25 | $94.3M | $169.9M | ||
| Q2 25 | $111.7M | $164.1M | ||
| Q1 25 | $89.9M | $159.9M | ||
| Q4 24 | $108.0M | $159.2M | ||
| Q3 24 | $102.5M | $153.9M | ||
| Q2 24 | $121.8M | $148.7M | ||
| Q1 24 | $100.1M | $145.8M |
净利润FORRQLYS
| Q4 25 | $-33.9M | $53.1M | ||
| Q3 25 | $-2.1M | $50.3M | ||
| Q2 25 | $3.9M | $47.3M | ||
| Q1 25 | $-87.3M | $47.5M | ||
| Q4 24 | $432.0K | $44.0M | ||
| Q3 24 | $-5.8M | $46.2M | ||
| Q2 24 | $6.3M | $43.8M | ||
| Q1 24 | $-6.7M | $39.7M |
毛利率FORRQLYS
| Q4 25 | 56.7% | 83.4% | ||
| Q3 25 | 60.0% | 83.6% | ||
| Q2 25 | 55.5% | 82.4% | ||
| Q1 25 | 55.9% | 81.9% | ||
| Q4 24 | 58.8% | 81.8% | ||
| Q3 24 | 60.5% | 81.3% | ||
| Q2 24 | 57.3% | 82.2% | ||
| Q1 24 | 54.9% | 81.3% |
营业利润率FORRQLYS
| Q4 25 | -36.6% | 33.6% | ||
| Q3 25 | 4.7% | 35.3% | ||
| Q2 25 | 6.2% | 31.3% | ||
| Q1 25 | -97.5% | 32.4% | ||
| Q4 24 | -0.5% | 31.0% | ||
| Q3 24 | -0.7% | 29.2% | ||
| Q2 24 | 9.3% | 32.3% | ||
| Q1 24 | -9.3% | 30.7% |
净利率FORRQLYS
| Q4 25 | -33.5% | 30.3% | ||
| Q3 25 | -2.3% | 29.6% | ||
| Q2 25 | 3.5% | 28.8% | ||
| Q1 25 | -97.1% | 29.7% | ||
| Q4 24 | 0.4% | 27.6% | ||
| Q3 24 | -5.7% | 30.0% | ||
| Q2 24 | 5.2% | 29.4% | ||
| Q1 24 | -6.7% | 27.2% |
每股收益（稀释后）FORRQLYS
| Q4 25 | $-1.75 | $1.47 | ||
| Q3 25 | $-0.11 | $1.39 | ||
| Q2 25 | $0.20 | $1.29 | ||
| Q1 25 | $-4.62 | $1.29 | ||
| Q4 24 | $0.02 | $1.19 | ||
| Q3 24 | $-0.30 | $1.24 | ||
| Q2 24 | $0.33 | $1.17 | ||
| Q1 24 | $-0.35 | $1.05 |
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 | $250.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $561.2M |
| 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FORRQLYS
| Q4 25 | $63.3M | $250.3M | ||
| Q3 25 | $65.1M | $225.3M | ||
| Q2 25 | $67.8M | $194.0M | ||
| Q1 25 | $75.6M | $290.7M | ||
| Q4 24 | $56.1M | $232.2M | ||
| Q3 24 | $62.8M | $235.4M | ||
| Q2 24 | $58.9M | $281.2M | ||
| Q1 24 | $61.4M | $273.8M |
股东权益FORRQLYS
| Q4 25 | $126.5M | $561.2M | ||
| Q3 25 | $157.7M | $529.4M | ||
| Q2 25 | $159.5M | $508.2M | ||
| Q1 25 | $147.4M | $498.0M | ||
| Q4 24 | $229.5M | $477.1M | ||
| Q3 24 | $234.3M | $449.6M | ||
| Q2 24 | $237.1M | $427.8M | ||
| Q1 24 | $230.9M | $404.2M |
总资产FORRQLYS
| Q4 25 | $404.0M | $1.1B | ||
| Q3 25 | $414.2M | $1.0B | ||
| Q2 25 | $436.0M | $999.5M | ||
| Q1 25 | $439.8M | $996.5M | ||
| Q4 24 | $503.9M | $973.5M | ||
| Q3 24 | $505.3M | $908.3M | ||
| Q2 24 | $524.2M | $876.6M | ||
| Q1 24 | $555.7M | $861.8M |
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 | $75.7M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $74.9M |
| 自由现金流率自由现金流/营收 | -4.2% | 42.8% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 1.42× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $304.4M |
8季度趋势，按日历期对齐
经营现金流FORRQLYS
| Q4 25 | $-3.2M | $75.7M | ||
| Q3 25 | $1.2M | $90.4M | ||
| Q2 25 | $-3.6M | $33.8M | ||
| Q1 25 | $26.7M | $109.6M | ||
| Q4 24 | $-1.8M | $47.7M | ||
| Q3 24 | $264.0K | $61.0M | ||
| Q2 24 | $-2.9M | $49.8M | ||
| Q1 24 | $611.0K | $85.5M |
自由现金流FORRQLYS
| Q4 25 | $-4.3M | $74.9M | ||
| Q3 25 | $524.0K | $89.5M | ||
| Q2 25 | $-4.2M | $32.4M | ||
| Q1 25 | $26.1M | $107.5M | ||
| Q4 24 | $-2.5M | $41.9M | ||
| Q3 24 | $-223.0K | $57.6M | ||
| Q2 24 | $-3.7M | $48.8M | ||
| Q1 24 | $-815.0K | $83.5M |
自由现金流率FORRQLYS
| Q4 25 | -4.2% | 42.8% | ||
| Q3 25 | 0.6% | 52.7% | ||
| Q2 25 | -3.8% | 19.8% | ||
| Q1 25 | 29.0% | 67.3% | ||
| Q4 24 | -2.3% | 26.3% | ||
| Q3 24 | -0.2% | 37.4% | ||
| Q2 24 | -3.1% | 32.8% | ||
| Q1 24 | -0.8% | 57.2% |
资本支出强度FORRQLYS
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 0.7% | 0.5% | ||
| Q2 25 | 0.5% | 0.8% | ||
| Q1 25 | 0.7% | 1.3% | ||
| Q4 24 | 0.6% | 3.7% | ||
| Q3 24 | 0.5% | 2.2% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 1.4% | 1.4% |
现金转化率FORRQLYS
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | -0.93× | 0.71× | ||
| Q1 25 | — | 2.31× | ||
| Q4 24 | -4.24× | 1.09× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | -0.46× | 1.14× | ||
| Q1 24 | — | 2.15× |
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% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
