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弗雷斯特研究公司（FORR）与RAMBUS INC（RMBS）财务数据对比。点击上方公司名可切换其他公司
RAMBUS INC的季度营收约是弗雷斯特研究公司的1.8倍（$180.2M vs $101.1M），RAMBUS INC净利率更高（33.2% vs -33.5%，领先66.8%），RAMBUS INC同比增速更快（8.1% vs -6.5%），过去两年RAMBUS INC的营收复合增速更高（16.8% 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。
Rambus Inc.是创立于1990年的美国科技企业，专注于芯片接口技术与架构的设计、研发及授权，相关技术广泛应用于各类数字电子产品。公司因发明RDRAM内存技术而闻名，在知识产权领域拥有深厚积累。
FORR vs RMBS — 直观对比
营收规模更大
RMBS
是对方的1.8倍
$101.1M
营收增速更快
RMBS
高出14.6%
-6.5%
净利率更高
RMBS
高出66.8%
-33.5%
两年增速更快
RMBS
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $180.2M |
| 净利润 | $-33.9M | $59.9M |
| 毛利率 | 56.7% | 79.7% |
| 营业利润率 | -36.6% | 34.3% |
| 净利率 | -33.5% | 33.2% |
| 营收同比 | -6.5% | 8.1% |
| 净利润同比 | -7941.4% | -7.3% |
| 每股收益（稀释后） | $-1.75 | $0.55 |
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FORRRMBS
| Q1 26 | — | $180.2M | ||
| Q4 25 | $101.1M | $190.2M | ||
| Q3 25 | $94.3M | $178.5M | ||
| Q2 25 | $111.7M | $172.2M | ||
| Q1 25 | $89.9M | $166.7M | ||
| Q4 24 | $108.0M | $161.1M | ||
| Q3 24 | $102.5M | $145.5M | ||
| Q2 24 | $121.8M | $132.1M |
净利润FORRRMBS
| Q1 26 | — | $59.9M | ||
| Q4 25 | $-33.9M | $63.8M | ||
| Q3 25 | $-2.1M | $48.4M | ||
| Q2 25 | $3.9M | $57.9M | ||
| Q1 25 | $-87.3M | $60.3M | ||
| Q4 24 | $432.0K | $62.2M | ||
| Q3 24 | $-5.8M | $48.7M | ||
| Q2 24 | $6.3M | $36.1M |
毛利率FORRRMBS
| Q1 26 | — | 79.7% | ||
| Q4 25 | 56.7% | 78.9% | ||
| Q3 25 | 60.0% | 79.5% | ||
| Q2 25 | 55.5% | 79.8% | ||
| Q1 25 | 55.9% | 80.3% | ||
| Q4 24 | 58.8% | 80.4% | ||
| Q3 24 | 60.5% | 80.7% | ||
| Q2 24 | 57.3% | 79.7% |
营业利润率FORRRMBS
| Q1 26 | — | 34.3% | ||
| Q4 25 | -36.6% | 37.2% | ||
| Q3 25 | 4.7% | 35.4% | ||
| Q2 25 | 6.2% | 36.6% | ||
| Q1 25 | -97.5% | 37.9% | ||
| Q4 24 | -0.5% | 35.9% | ||
| Q3 24 | -0.7% | 37.6% | ||
| Q2 24 | 9.3% | 30.5% |
净利率FORRRMBS
| Q1 26 | — | 33.2% | ||
| Q4 25 | -33.5% | 33.6% | ||
| Q3 25 | -2.3% | 27.1% | ||
| Q2 25 | 3.5% | 33.6% | ||
| Q1 25 | -97.1% | 36.2% | ||
| Q4 24 | 0.4% | 38.6% | ||
| Q3 24 | -5.7% | 33.4% | ||
| Q2 24 | 5.2% | 27.3% |
每股收益（稀释后）FORRRMBS
| Q1 26 | — | $0.55 | ||
| Q4 25 | $-1.75 | $0.58 | ||
| Q3 25 | $-0.11 | $0.44 | ||
| Q2 25 | $0.20 | $0.53 | ||
| Q1 25 | $-4.62 | $0.56 | ||
| Q4 24 | $0.02 | $0.57 | ||
| Q3 24 | $-0.30 | $0.45 | ||
| Q2 24 | $0.33 | $0.33 |
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 | $134.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | — |
| 总资产 | $404.0M | $1.5B |
| 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FORRRMBS
| Q1 26 | — | $134.3M | ||
| Q4 25 | $63.3M | $182.8M | ||
| Q3 25 | $65.1M | $79.2M | ||
| Q2 25 | $67.8M | $87.8M | ||
| Q1 25 | $75.6M | $132.2M | ||
| Q4 24 | $56.1M | $99.8M | ||
| Q3 24 | $62.8M | $114.0M | ||
| Q2 24 | $58.9M | $124.6M |
股东权益FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | $126.5M | $1.4B | ||
| Q3 25 | $157.7M | $1.3B | ||
| Q2 25 | $159.5M | $1.2B | ||
| Q1 25 | $147.4M | $1.2B | ||
| Q4 24 | $229.5M | $1.1B | ||
| Q3 24 | $234.3M | $1.0B | ||
| Q2 24 | $237.1M | $1.0B |
总资产FORRRMBS
| Q1 26 | — | $1.5B | ||
| Q4 25 | $404.0M | $1.5B | ||
| Q3 25 | $414.2M | $1.4B | ||
| Q2 25 | $436.0M | $1.5B | ||
| Q1 25 | $439.8M | $1.4B | ||
| Q4 24 | $503.9M | $1.3B | ||
| Q3 24 | $505.3M | $1.3B | ||
| Q2 24 | $524.2M | $1.3B |
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FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $99.8M | ||
| Q3 25 | $1.2M | $88.4M | ||
| Q2 25 | $-3.6M | $94.4M | ||
| Q1 25 | $26.7M | $77.4M | ||
| Q4 24 | $-1.8M | $59.0M | ||
| Q3 24 | $264.0K | $62.1M | ||
| Q2 24 | $-2.9M | $70.4M |
自由现金流FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $93.3M | ||
| Q3 25 | $524.0K | $82.5M | ||
| Q2 25 | $-4.2M | $87.9M | ||
| Q1 25 | $26.1M | $69.5M | ||
| Q4 24 | $-2.5M | $52.5M | ||
| Q3 24 | $-223.0K | $52.2M | ||
| Q2 24 | $-3.7M | $59.1M |
自由现金流率FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 49.0% | ||
| Q3 25 | 0.6% | 46.2% | ||
| Q2 25 | -3.8% | 51.0% | ||
| Q1 25 | 29.0% | 41.7% | ||
| Q4 24 | -2.3% | 32.6% | ||
| Q3 24 | -0.2% | 35.9% | ||
| Q2 24 | -3.1% | 44.7% |
资本支出强度FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 3.4% | ||
| Q3 25 | 0.7% | 3.3% | ||
| Q2 25 | 0.5% | 3.8% | ||
| Q1 25 | 0.7% | 4.7% | ||
| Q4 24 | 0.6% | 4.0% | ||
| Q3 24 | 0.5% | 6.8% | ||
| Q2 24 | 0.7% | 8.6% |
现金转化率FORRRMBS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | -0.93× | 1.63× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | -4.24× | 0.95× | ||
| Q3 24 | — | 1.28× | ||
| Q2 24 | -0.46× | 1.95× |
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% |
RMBS
| Product revenue | $88.0M | 49% |
| Royalties | $69.6M | 39% |
| Contract and other revenue | $22.6M | 13% |
