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弗雷斯特研究公司（FORR）与Southland Holdings, Inc.（SLND）财务数据对比。点击上方公司名可切换其他公司
Southland Holdings, Inc.的季度营收约是弗雷斯特研究公司的1.0倍（$104.0M vs $101.1M），弗雷斯特研究公司净利率更高（-33.5% vs -208.2%，领先174.7%），弗雷斯特研究公司同比增速更快（-6.5% vs -61.1%），Southland Holdings, Inc.自由现金流更多（$9.3M vs $-4.3M），过去两年弗雷斯特研究公司的营收复合增速更高（0.5% vs -39.9%）
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。
Southland Holdings, Inc.是北美知名基础设施建设企业，主营公路、桥梁、机场等交通工程、水处理系统搭建及商业场地开发业务，服务公共部门及私营领域客户，业务覆盖北美核心市场。
FORR vs SLND — 直观对比
营收规模更大
SLND
是对方的1.0倍
$101.1M
营收增速更快
FORR
高出54.6%
-61.1%
净利率更高
FORR
高出174.7%
-208.2%
自由现金流更多
SLND
多$13.6M
$-4.3M
两年增速更快
FORR
近两年复合增速
-39.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $104.0M |
| 净利润 | $-33.9M | $-216.4M |
| 毛利率 | 56.7% | -186.0% |
| 营业利润率 | -36.6% | -202.4% |
| 净利率 | -33.5% | -208.2% |
| 营收同比 | -6.5% | -61.1% |
| 净利润同比 | -7941.4% | -5108.5% |
| 每股收益（稀释后） | $-1.75 | $-4.01 |
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FORRSLND
| Q4 25 | $101.1M | $104.0M | ||
| Q3 25 | $94.3M | $213.3M | ||
| Q2 25 | $111.7M | $215.4M | ||
| Q1 25 | $89.9M | $239.5M | ||
| Q4 24 | $108.0M | $267.3M | ||
| Q3 24 | $102.5M | $173.3M | ||
| Q2 24 | $121.8M | $251.5M | ||
| Q1 24 | $100.1M | $288.1M |
净利润FORRSLND
| Q4 25 | $-33.9M | $-216.4M | ||
| Q3 25 | $-2.1M | $-75.3M | ||
| Q2 25 | $3.9M | $-10.3M | ||
| Q1 25 | $-87.3M | $-4.6M | ||
| Q4 24 | $432.0K | $-4.2M | ||
| Q3 24 | $-5.8M | $-54.7M | ||
| Q2 24 | $6.3M | $-46.1M | ||
| Q1 24 | $-6.7M | $-406.0K |
毛利率FORRSLND
| Q4 25 | 56.7% | -186.0% | ||
| Q3 25 | 60.0% | 1.5% | ||
| Q2 25 | 55.5% | 6.2% | ||
| Q1 25 | 55.9% | 9.0% | ||
| Q4 24 | 58.8% | 2.9% | ||
| Q3 24 | 60.5% | -29.5% | ||
| Q2 24 | 57.3% | -15.9% | ||
| Q1 24 | 54.9% | 7.1% |
营业利润率FORRSLND
| Q4 25 | -36.6% | -202.4% | ||
| Q3 25 | 4.7% | -5.3% | ||
| Q2 25 | 6.2% | -0.1% | ||
| Q1 25 | -97.5% | 2.1% | ||
| Q4 24 | -0.5% | -3.0% | ||
| Q3 24 | -0.7% | -39.6% | ||
| Q2 24 | 9.3% | -22.1% | ||
| Q1 24 | -9.3% | 2.1% |
净利率FORRSLND
| Q4 25 | -33.5% | -208.2% | ||
| Q3 25 | -2.3% | -35.3% | ||
| Q2 25 | 3.5% | -4.8% | ||
| Q1 25 | -97.1% | -1.9% | ||
| Q4 24 | 0.4% | -1.6% | ||
| Q3 24 | -5.7% | -31.6% | ||
| Q2 24 | 5.2% | -18.3% | ||
| Q1 24 | -6.7% | -0.1% |
每股收益（稀释后）FORRSLND
| Q4 25 | $-1.75 | $-4.01 | ||
| Q3 25 | $-0.11 | $-1.39 | ||
| Q2 25 | $0.20 | $-0.19 | ||
| Q1 25 | $-4.62 | $-0.08 | ||
| Q4 24 | $0.02 | $-0.08 | ||
| Q3 24 | $-0.30 | $-1.14 | ||
| Q2 24 | $0.33 | $-0.96 | ||
| Q1 24 | $-0.35 | $-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 | $52.7M |
| 总债务越低越好 | — | $257.7M |
| 股东权益账面价值 | $126.5M | $-140.9M |
| 总资产 | $404.0M | $989.3M |
| 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FORRSLND
| Q4 25 | $63.3M | $52.7M | ||
| Q3 25 | $65.1M | $40.5M | ||
| Q2 25 | $67.8M | $46.5M | ||
| Q1 25 | $75.6M | $65.1M | ||
| Q4 24 | $56.1M | $72.2M | ||
| Q3 24 | $62.8M | $91.4M | ||
| Q2 24 | $58.9M | $52.4M | ||
| Q1 24 | $61.4M | $31.2M |
总债务FORRSLND
| Q4 25 | — | $257.7M | ||
| Q3 25 | — | $267.8M | ||
| Q2 25 | — | $278.6M | ||
| Q1 25 | — | $288.1M | ||
| Q4 24 | — | $300.1M | ||
| Q3 24 | — | $318.3M | ||
| Q2 24 | — | $307.8M | ||
| Q1 24 | — | $302.0M |
股东权益FORRSLND
| Q4 25 | $126.5M | $-140.9M | ||
| Q3 25 | $157.7M | $75.0M | ||
| Q2 25 | $159.5M | $151.1M | ||
| Q1 25 | $147.4M | $159.1M | ||
| Q4 24 | $229.5M | $163.7M | ||
| Q3 24 | $234.3M | $149.1M | ||
| Q2 24 | $237.1M | $203.3M | ||
| Q1 24 | $230.9M | $249.3M |
总资产FORRSLND
| Q4 25 | $404.0M | $989.3M | ||
| Q3 25 | $414.2M | $1.1B | ||
| Q2 25 | $436.0M | $1.2B | ||
| Q1 25 | $439.8M | $1.2B | ||
| Q4 24 | $503.9M | $1.2B | ||
| Q3 24 | $505.3M | $1.2B | ||
| Q2 24 | $524.2M | $1.3B | ||
| Q1 24 | $555.7M | $1.2B |
负债/权益比FORRSLND
| Q4 25 | — | — | ||
| Q3 25 | — | 3.57× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 2.14× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | — | 1.21× |
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 | $9.7M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $9.3M |
| 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% | 0.4% |
| 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 | $12.7M |
8季度趋势，按日历期对齐
经营现金流FORRSLND
| Q4 25 | $-3.2M | $9.7M | ||
| Q3 25 | $1.2M | $5.9M | ||
| Q2 25 | $-3.6M | $-5.4M | ||
| Q1 25 | $26.7M | $6.4M | ||
| Q4 24 | $-1.8M | $-10.3M | ||
| Q3 24 | $264.0K | $-5.3M | ||
| Q2 24 | $-2.9M | $27.4M | ||
| Q1 24 | $611.0K | $-9.9M |
自由现金流FORRSLND
| Q4 25 | $-4.3M | $9.3M | ||
| Q3 25 | $524.0K | $5.3M | ||
| Q2 25 | $-4.2M | $-6.5M | ||
| Q1 25 | $26.1M | $4.6M | ||
| Q4 24 | $-2.5M | $-11.5M | ||
| Q3 24 | $-223.0K | $-7.3M | ||
| Q2 24 | $-3.7M | $26.3M | ||
| Q1 24 | $-815.0K | $-13.0M |
自由现金流率FORRSLND
| Q4 25 | -4.2% | 8.9% | ||
| Q3 25 | 0.6% | 2.5% | ||
| Q2 25 | -3.8% | -3.0% | ||
| Q1 25 | 29.0% | 1.9% | ||
| Q4 24 | -2.3% | -4.3% | ||
| Q3 24 | -0.2% | -4.2% | ||
| Q2 24 | -3.1% | 10.5% | ||
| Q1 24 | -0.8% | -4.5% |
资本支出强度FORRSLND
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 0.7% | 0.3% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 0.7% | 0.7% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.5% | 1.1% | ||
| Q2 24 | 0.7% | 0.4% | ||
| Q1 24 | 1.4% | 1.1% |
现金转化率FORRSLND
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | — |
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% |
SLND
| Civil | $58.4M | 56% |
| Transportation | $45.6M | 44% |
