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弗雷斯特研究公司（FORR）与SMARTFINANCIAL INC.（SMBK）财务数据对比。点击上方公司名可切换其他公司
弗雷斯特研究公司的季度营收约是SMARTFINANCIAL INC.的1.9倍（$101.1M vs $53.8M），SMARTFINANCIAL INC.净利率更高（25.4% vs -33.5%，领先58.9%），过去两年SMARTFINANCIAL INC.的营收复合增速更高（15.4% 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。
SmartFinancial Inc.是一家美国银行控股公司，旗下运营SmartBank，面向美国东南部地区的个人客户及中小微企业提供存款、个人及企业贷款、抵押贷款、财富管理等多元化零售及商业银行服务。
FORR vs SMBK — 直观对比
营收规模更大
FORR
是对方的1.9倍
$53.8M
净利率更高
SMBK
高出58.9%
-33.5%
两年增速更快
SMBK
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $53.8M |
| 净利润 | $-33.9M | $13.7M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | — |
| 净利率 | -33.5% | 25.4% |
| 营收同比 | -6.5% | — |
| 净利润同比 | -7941.4% | 21.6% |
| 每股收益（稀释后） | $-1.75 | $0.81 |
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FORRSMBK
| Q1 26 | — | $53.8M | ||
| Q4 25 | $101.1M | $53.3M | ||
| Q3 25 | $94.3M | $51.1M | ||
| Q2 25 | $111.7M | $49.2M | ||
| Q1 25 | $89.9M | $46.8M | ||
| Q4 24 | $108.0M | $46.8M | ||
| Q3 24 | $102.5M | $44.2M | ||
| Q2 24 | $121.8M | $40.4M |
净利润FORRSMBK
| Q1 26 | — | $13.7M | ||
| Q4 25 | $-33.9M | $13.7M | ||
| Q3 25 | $-2.1M | $13.7M | ||
| Q2 25 | $3.9M | $11.7M | ||
| Q1 25 | $-87.3M | $11.3M | ||
| Q4 24 | $432.0K | $9.6M | ||
| Q3 24 | $-5.8M | $9.1M | ||
| Q2 24 | $6.3M | $8.0M |
毛利率FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | 56.7% | — | ||
| Q3 25 | 60.0% | — | ||
| Q2 25 | 55.5% | — | ||
| Q1 25 | 55.9% | — | ||
| Q4 24 | 58.8% | — | ||
| Q3 24 | 60.5% | — | ||
| Q2 24 | 57.3% | — |
营业利润率FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | -36.6% | 31.3% | ||
| Q3 25 | 4.7% | 33.2% | ||
| Q2 25 | 6.2% | 29.0% | ||
| Q1 25 | -97.5% | 29.0% | ||
| Q4 24 | -0.5% | 26.5% | ||
| Q3 24 | -0.7% | 24.3% | ||
| Q2 24 | 9.3% | 25.6% |
净利率FORRSMBK
| Q1 26 | — | 25.4% | ||
| Q4 25 | -33.5% | 25.7% | ||
| Q3 25 | -2.3% | 26.8% | ||
| Q2 25 | 3.5% | 23.8% | ||
| Q1 25 | -97.1% | 24.0% | ||
| Q4 24 | 0.4% | 20.6% | ||
| Q3 24 | -5.7% | 20.7% | ||
| Q2 24 | 5.2% | 19.8% |
每股收益（稀释后）FORRSMBK
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-1.75 | $0.81 | ||
| Q3 25 | $-0.11 | $0.81 | ||
| Q2 25 | $0.20 | $0.69 | ||
| Q1 25 | $-4.62 | $0.67 | ||
| Q4 24 | $0.02 | $0.57 | ||
| Q3 24 | $-0.30 | $0.54 | ||
| Q2 24 | $0.33 | $0.48 |
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 | $346.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $562.2M |
| 总资产 | $404.0M | $5.9B |
| 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FORRSMBK
| Q1 26 | — | $346.1M | ||
| Q4 25 | $63.3M | $464.4M | ||
| Q3 25 | $65.1M | $557.1M | ||
| Q2 25 | $67.8M | $365.1M | ||
| Q1 25 | $75.6M | $423.0M | ||
| Q4 24 | $56.1M | $387.6M | ||
| Q3 24 | $62.8M | $192.9M | ||
| Q2 24 | $58.9M | $342.8M |
总债务FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $12.7M |
股东权益FORRSMBK
| Q1 26 | — | $562.2M | ||
| Q4 25 | $126.5M | $552.4M | ||
| Q3 25 | $157.7M | $538.4M | ||
| Q2 25 | $159.5M | $519.0M | ||
| Q1 25 | $147.4M | $505.8M | ||
| Q4 24 | $229.5M | $491.3M | ||
| Q3 24 | $234.3M | $489.0M | ||
| Q2 24 | $237.1M | $472.5M |
总资产FORRSMBK
| Q1 26 | — | $5.9B | ||
| Q4 25 | $404.0M | $5.9B | ||
| Q3 25 | $414.2M | $5.8B | ||
| Q2 25 | $436.0M | $5.5B | ||
| Q1 25 | $439.8M | $5.4B | ||
| Q4 24 | $503.9M | $5.3B | ||
| Q3 24 | $505.3M | $4.9B | ||
| Q2 24 | $524.2M | $4.9B |
负债/权益比FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $61.7M | ||
| Q3 25 | $1.2M | $16.9M | ||
| Q2 25 | $-3.6M | $14.0M | ||
| Q1 25 | $26.7M | $14.3M | ||
| Q4 24 | $-1.8M | $52.7M | ||
| Q3 24 | $264.0K | $12.4M | ||
| Q2 24 | $-2.9M | $16.5M |
自由现金流FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $59.3M | ||
| Q3 25 | $524.0K | $16.6M | ||
| Q2 25 | $-4.2M | $13.2M | ||
| Q1 25 | $26.1M | $13.4M | ||
| Q4 24 | $-2.5M | $46.3M | ||
| Q3 24 | $-223.0K | $11.3M | ||
| Q2 24 | $-3.7M | $15.4M |
自由现金流率FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 111.3% | ||
| Q3 25 | 0.6% | 32.4% | ||
| Q2 25 | -3.8% | 26.9% | ||
| Q1 25 | 29.0% | 28.5% | ||
| Q4 24 | -2.3% | 98.9% | ||
| Q3 24 | -0.2% | 25.7% | ||
| Q2 24 | -3.1% | 38.2% |
资本支出强度FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 4.5% | ||
| Q3 25 | 0.7% | 0.6% | ||
| Q2 25 | 0.5% | 1.6% | ||
| Q1 25 | 0.7% | 2.0% | ||
| Q4 24 | 0.6% | 13.7% | ||
| Q3 24 | 0.5% | 2.4% | ||
| Q2 24 | 0.7% | 2.7% |
现金转化率FORRSMBK
| Q1 26 | — | — | ||
| Q4 25 | — | 4.50× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | -0.93× | 1.20× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | -4.24× | 5.47× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | -0.46× | 2.07× |
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% |
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
