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弗雷斯特研究公司（FORR）与REPLIGEN CORP（RGEN）财务数据对比。点击上方公司名可切换其他公司
REPLIGEN CORP的季度营收约是弗雷斯特研究公司的2.0倍（$197.9M vs $101.1M），REPLIGEN CORP净利率更高（6.7% vs -33.5%，领先40.2%），REPLIGEN CORP同比增速更快（13.6% vs -6.5%），REPLIGEN CORP自由现金流更多（$17.6M vs $-4.3M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% 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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
FORR vs RGEN — 直观对比
营收规模更大
RGEN
是对方的2.0倍
$101.1M
营收增速更快
RGEN
高出20.1%
-6.5%
净利率更高
RGEN
高出40.2%
-33.5%
自由现金流更多
RGEN
多$21.8M
$-4.3M
两年增速更快
RGEN
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $197.9M |
| 净利润 | $-33.9M | $13.3M |
| 毛利率 | 56.7% | 52.5% |
| 营业利润率 | -36.6% | 9.0% |
| 净利率 | -33.5% | 6.7% |
| 营收同比 | -6.5% | 13.6% |
| 净利润同比 | -7941.4% | 143.9% |
| 每股收益（稀释后） | $-1.75 | $0.24 |
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FORRRGEN
| Q4 25 | $101.1M | $197.9M | ||
| Q3 25 | $94.3M | $188.8M | ||
| Q2 25 | $111.7M | $182.4M | ||
| Q1 25 | $89.9M | $169.2M | ||
| Q4 24 | $108.0M | $174.1M | ||
| Q3 24 | $102.5M | $154.9M | ||
| Q2 24 | $121.8M | $154.1M | ||
| Q1 24 | $100.1M | $151.3M |
净利润FORRRGEN
| Q4 25 | $-33.9M | $13.3M | ||
| Q3 25 | $-2.1M | $14.9M | ||
| Q2 25 | $3.9M | $14.9M | ||
| Q1 25 | $-87.3M | $5.8M | ||
| Q4 24 | $432.0K | $-30.3M | ||
| Q3 24 | $-5.8M | $-654.0K | ||
| Q2 24 | $6.3M | $3.3M | ||
| Q1 24 | $-6.7M | $2.1M |
毛利率FORRRGEN
| Q4 25 | 56.7% | 52.5% | ||
| Q3 25 | 60.0% | 53.2% | ||
| Q2 25 | 55.5% | 50.0% | ||
| Q1 25 | 55.9% | 53.6% | ||
| Q4 24 | 58.8% | 26.1% | ||
| Q3 24 | 60.5% | 50.0% | ||
| Q2 24 | 57.3% | 49.8% | ||
| Q1 24 | 54.9% | 49.5% |
营业利润率FORRRGEN
| Q4 25 | -36.6% | 9.0% | ||
| Q3 25 | 4.7% | 8.9% | ||
| Q2 25 | 6.2% | 7.6% | ||
| Q1 25 | -97.5% | 3.9% | ||
| Q4 24 | -0.5% | -17.7% | ||
| Q3 24 | -0.7% | -5.1% | ||
| Q2 24 | 9.3% | 1.0% | ||
| Q1 24 | -9.3% | 1.3% |
净利率FORRRGEN
| Q4 25 | -33.5% | 6.7% | ||
| Q3 25 | -2.3% | 7.9% | ||
| Q2 25 | 3.5% | 8.2% | ||
| Q1 25 | -97.1% | 3.4% | ||
| Q4 24 | 0.4% | -17.4% | ||
| Q3 24 | -5.7% | -0.4% | ||
| Q2 24 | 5.2% | 2.2% | ||
| Q1 24 | -6.7% | 1.4% |
每股收益（稀释后）FORRRGEN
| Q4 25 | $-1.75 | $0.24 | ||
| Q3 25 | $-0.11 | $0.26 | ||
| Q2 25 | $0.20 | $0.26 | ||
| Q1 25 | $-4.62 | $0.10 | ||
| Q4 24 | $0.02 | $-0.55 | ||
| Q3 24 | $-0.30 | $-0.01 | ||
| Q2 24 | $0.33 | $0.06 | ||
| Q1 24 | $-0.35 | $0.04 |
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 | $767.6M |
| 总债务越低越好 | — | $542.2M |
| 股东权益账面价值 | $126.5M | $2.1B |
| 总资产 | $404.0M | $2.9B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资FORRRGEN
| Q4 25 | $63.3M | $767.6M | ||
| Q3 25 | $65.1M | $748.7M | ||
| Q2 25 | $67.8M | $708.9M | ||
| Q1 25 | $75.6M | $697.2M | ||
| Q4 24 | $56.1M | $757.4M | ||
| Q3 24 | $62.8M | $784.0M | ||
| Q2 24 | $58.9M | $809.1M | ||
| Q1 24 | $61.4M | $780.6M |
总债务FORRRGEN
| Q4 25 | — | $542.2M | ||
| Q3 25 | — | $537.9M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益FORRRGEN
| Q4 25 | $126.5M | $2.1B | ||
| Q3 25 | $157.7M | $2.1B | ||
| Q2 25 | $159.5M | $2.1B | ||
| Q1 25 | $147.4M | $2.0B | ||
| Q4 24 | $229.5M | $2.0B | ||
| Q3 24 | $234.3M | $2.0B | ||
| Q2 24 | $237.1M | $2.0B | ||
| Q1 24 | $230.9M | $2.0B |
总资产FORRRGEN
| Q4 25 | $404.0M | $2.9B | ||
| Q3 25 | $414.2M | $2.9B | ||
| Q2 25 | $436.0M | $2.9B | ||
| Q1 25 | $439.8M | $2.9B | ||
| Q4 24 | $503.9M | $2.8B | ||
| Q3 24 | $505.3M | $2.8B | ||
| Q2 24 | $524.2M | $2.9B | ||
| Q1 24 | $555.7M | $2.8B |
负债/权益比FORRRGEN
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $17.6M |
| 自由现金流率自由现金流/营收 | -4.2% | 8.9% |
| 资本支出强度资本支出/营收 | 1.1% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $93.9M |
8季度趋势，按日历期对齐
经营现金流FORRRGEN
| Q4 25 | $-3.2M | $25.7M | ||
| Q3 25 | $1.2M | $48.1M | ||
| Q2 25 | $-3.6M | $28.6M | ||
| Q1 25 | $26.7M | $15.0M | ||
| Q4 24 | $-1.8M | $39.2M | ||
| Q3 24 | $264.0K | $49.3M | ||
| Q2 24 | $-2.9M | $42.2M | ||
| Q1 24 | $611.0K | $44.7M |
自由现金流FORRRGEN
| Q4 25 | $-4.3M | $17.6M | ||
| Q3 25 | $524.0K | $43.4M | ||
| Q2 25 | $-4.2M | $21.5M | ||
| Q1 25 | $26.1M | $11.4M | ||
| Q4 24 | $-2.5M | $33.6M | ||
| Q3 24 | $-223.0K | $42.3M | ||
| Q2 24 | $-3.7M | $37.4M | ||
| Q1 24 | $-815.0K | $36.4M |
自由现金流率FORRRGEN
| Q4 25 | -4.2% | 8.9% | ||
| Q3 25 | 0.6% | 23.0% | ||
| Q2 25 | -3.8% | 11.8% | ||
| Q1 25 | 29.0% | 6.8% | ||
| Q4 24 | -2.3% | 19.3% | ||
| Q3 24 | -0.2% | 27.3% | ||
| Q2 24 | -3.1% | 24.3% | ||
| Q1 24 | -0.8% | 24.0% |
资本支出强度FORRRGEN
| Q4 25 | 1.1% | 4.1% | ||
| Q3 25 | 0.7% | 2.5% | ||
| Q2 25 | 0.5% | 3.9% | ||
| Q1 25 | 0.7% | 2.1% | ||
| Q4 24 | 0.6% | 3.2% | ||
| Q3 24 | 0.5% | 4.5% | ||
| Q2 24 | 0.7% | 3.1% | ||
| Q1 24 | 1.4% | 5.5% |
现金转化率FORRRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | — | 3.23× | ||
| Q2 25 | -0.93× | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | 12.70× | ||
| Q1 24 | — | 21.35× |
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% |
RGEN
暂无分部数据
