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弗雷斯特研究公司（FORR）与RAYONIER INC（RYN）财务数据对比。点击上方公司名可切换其他公司
RAYONIER INC的季度营收约是弗雷斯特研究公司的2.7倍（$276.8M vs $101.1M），RAYONIER INC净利率更高（-4.5% vs -33.5%，领先29.0%），RAYONIER INC同比增速更快（233.9% vs -6.5%），过去两年RAYONIER INC的营收复合增速更高（66.7% 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。
Rayonier Inc.是总部位于佛罗里达州怀尔德莱特的林地房地产投资信托（REIT），资产分布在美国和新西兰的软木种植区域，核心业务板块为木材业务与房地产业务。
FORR vs RYN — 直观对比
营收规模更大
RYN
是对方的2.7倍
$101.1M
营收增速更快
RYN
高出240.4%
-6.5%
净利率更高
RYN
高出29.0%
-33.5%
两年增速更快
RYN
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $276.8M |
| 净利润 | $-33.9M | $-12.4M |
| 毛利率 | 56.7% | 100.0% |
| 营业利润率 | -36.6% | — |
| 净利率 | -33.5% | -4.5% |
| 营收同比 | -6.5% | 233.9% |
| 净利润同比 | -7941.4% | -264.7% |
| 每股收益（稀释后） | $-1.75 | — |
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FORRRYN
| Q1 26 | — | $276.8M | ||
| Q4 25 | $101.1M | $117.5M | ||
| Q3 25 | $94.3M | $177.5M | ||
| Q2 25 | $111.7M | $106.5M | ||
| Q1 25 | $89.9M | $82.9M | ||
| Q4 24 | $108.0M | $650.5M | ||
| Q3 24 | $102.5M | $124.1M | ||
| Q2 24 | $121.8M | $99.6M |
净利润FORRRYN
| Q1 26 | — | $-12.4M | ||
| Q4 25 | $-33.9M | $25.9M | ||
| Q3 25 | $-2.1M | $43.2M | ||
| Q2 25 | $3.9M | $408.7M | ||
| Q1 25 | $-87.3M | $-3.4M | ||
| Q4 24 | $432.0K | $327.1M | ||
| Q3 24 | $-5.8M | $28.8M | ||
| Q2 24 | $6.3M | $1.9M |
毛利率FORRRYN
| Q1 26 | — | 100.0% | ||
| Q4 25 | 56.7% | 41.9% | ||
| Q3 25 | 60.0% | 32.9% | ||
| Q2 25 | 55.5% | 29.7% | ||
| Q1 25 | 55.9% | 21.7% | ||
| Q4 24 | 58.8% | 53.8% | ||
| Q3 24 | 60.5% | 30.4% | ||
| Q2 24 | 57.3% | 25.4% |
营业利润率FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | -36.6% | 23.0% | ||
| Q3 25 | 4.7% | 23.5% | ||
| Q2 25 | 6.2% | 13.7% | ||
| Q1 25 | -97.5% | 0.1% | ||
| Q4 24 | -0.5% | 47.7% | ||
| Q3 24 | -0.7% | 15.2% | ||
| Q2 24 | 9.3% | 4.6% |
净利率FORRRYN
| Q1 26 | — | -4.5% | ||
| Q4 25 | -33.5% | 22.1% | ||
| Q3 25 | -2.3% | 24.3% | ||
| Q2 25 | 3.5% | 383.6% | ||
| Q1 25 | -97.1% | -4.1% | ||
| Q4 24 | 0.4% | 45.1% | ||
| Q3 24 | -5.7% | 23.2% | ||
| Q2 24 | 5.2% | 1.9% |
每股收益（稀释后）FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | $-1.75 | $0.14 | ||
| Q3 25 | $-0.11 | $0.28 | ||
| Q2 25 | $0.20 | $2.63 | ||
| Q1 25 | $-4.62 | $-0.02 | ||
| Q4 24 | $0.02 | $2.18 | ||
| Q3 24 | $-0.30 | $0.19 | ||
| Q2 24 | $0.33 | $0.01 |
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 | $681.7M |
| 总债务越低越好 | — | $2.1B |
| 股东权益账面价值 | $126.5M | $5.3B |
| 总资产 | $404.0M | $7.7B |
| 负债/权益比越低杠杆越低 | — | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资FORRRYN
| Q1 26 | — | $681.7M | ||
| Q4 25 | $63.3M | $842.9M | ||
| Q3 25 | $65.1M | $919.6M | ||
| Q2 25 | $67.8M | $892.3M | ||
| Q1 25 | $75.6M | $216.2M | ||
| Q4 24 | $56.1M | $303.1M | ||
| Q3 24 | $62.8M | $51.9M | ||
| Q2 24 | $58.9M | $120.2M |
总债务FORRRYN
| Q1 26 | — | $2.1B | ||
| Q4 25 | — | $845.3M | ||
| Q3 25 | — | $845.1M | ||
| Q2 25 | — | $844.9M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.4B |
股东权益FORRRYN
| Q1 26 | — | $5.3B | ||
| Q4 25 | $126.5M | $2.2B | ||
| Q3 25 | $157.7M | $2.3B | ||
| Q2 25 | $159.5M | $2.3B | ||
| Q1 25 | $147.4M | $1.9B | ||
| Q4 24 | $229.5M | $1.8B | ||
| Q3 24 | $234.3M | $1.8B | ||
| Q2 24 | $237.1M | $1.8B |
总资产FORRRYN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $404.0M | $3.4B | ||
| Q3 25 | $414.2M | $3.5B | ||
| Q2 25 | $436.0M | $3.5B | ||
| Q1 25 | $439.8M | $3.4B | ||
| Q4 24 | $503.9M | $3.5B | ||
| Q3 24 | $505.3M | $3.5B | ||
| Q2 24 | $524.2M | $3.5B |
负债/权益比FORRRYN
| Q1 26 | — | 0.39× | ||
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.72× | ||
| Q2 24 | — | 0.75× |
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% | 7.4% |
| 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FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $256.7M | ||
| Q3 25 | $1.2M | $116.2M | ||
| Q2 25 | $-3.6M | $61.0M | ||
| Q1 25 | $26.7M | $27.7M | ||
| Q4 24 | $-1.8M | $261.6M | ||
| Q3 24 | $264.0K | $66.2M | ||
| Q2 24 | $-2.9M | $55.3M |
自由现金流FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | — | ||
| Q3 25 | $524.0K | $99.9M | ||
| Q2 25 | $-4.2M | — | ||
| Q1 25 | $26.1M | — | ||
| Q4 24 | $-2.5M | — | ||
| Q3 24 | $-223.0K | $42.2M | ||
| Q2 24 | $-3.7M | — |
自由现金流率FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | — | ||
| Q3 25 | 0.6% | 56.3% | ||
| Q2 25 | -3.8% | — | ||
| Q1 25 | 29.0% | — | ||
| Q4 24 | -2.3% | — | ||
| Q3 24 | -0.2% | 34.0% | ||
| Q2 24 | -3.1% | — |
资本支出强度FORRRYN
| Q1 26 | — | 7.4% | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 0.7% | 9.2% | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.5% | 19.3% | ||
| Q2 24 | 0.7% | — |
现金转化率FORRRYN
| Q1 26 | — | — | ||
| Q4 25 | — | 9.91× | ||
| Q3 25 | — | 2.69× | ||
| Q2 25 | -0.93× | 0.15× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 0.80× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | -0.46× | 29.07× |
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% |
RYN
| Wood Products | $108.5M | 39% |
| Southern Timber | $88.7M | 32% |
| Real Estate | $59.8M | 22% |
| Northwest Timber | $32.1M | 12% |
