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弗雷斯特研究公司（FORR）与Tarsus Pharmaceuticals, Inc.（TARS）财务数据对比。点击上方公司名可切换其他公司
Tarsus Pharmaceuticals, Inc.的季度营收约是弗雷斯特研究公司的1.5倍（$151.7M vs $101.1M），Tarsus Pharmaceuticals, Inc.净利率更高（-5.5% vs -33.5%，领先28.0%），Tarsus Pharmaceuticals, Inc.同比增速更快（128.4% vs -6.5%），Tarsus Pharmaceuticals, Inc.自由现金流更多（$13.0M vs $-4.3M），过去两年Tarsus Pharmaceuticals, Inc.的营收复合增速更高（134.4% 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。
Tarsus Pharmaceuticals是一家处于后期临床阶段的生物制药公司，专注于眼科、皮肤科等专科领域创新疗法的研发和商业化，主打产品针对蠕形螨睑缘炎、玫瑰痤疮等未被充分诊断的常见病症，核心市场为美国。
FORR vs TARS — 直观对比
营收规模更大
TARS
是对方的1.5倍
$101.1M
营收增速更快
TARS
高出134.9%
-6.5%
净利率更高
TARS
高出28.0%
-33.5%
自由现金流更多
TARS
多$17.2M
$-4.3M
两年增速更快
TARS
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $151.7M |
| 净利润 | $-33.9M | $-8.4M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | -5.3% |
| 净利率 | -33.5% | -5.5% |
| 营收同比 | -6.5% | 128.4% |
| 净利润同比 | -7941.4% | 63.8% |
| 每股收益（稀释后） | $-1.75 | $-0.17 |
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FORRTARS
| Q4 25 | $101.1M | $151.7M | ||
| Q3 25 | $94.3M | $118.7M | ||
| Q2 25 | $111.7M | $102.7M | ||
| Q1 25 | $89.9M | $78.3M | ||
| Q4 24 | $108.0M | $66.4M | ||
| Q3 24 | $102.5M | $48.1M | ||
| Q2 24 | $121.8M | $40.8M | ||
| Q1 24 | $100.1M | $27.6M |
净利润FORRTARS
| Q4 25 | $-33.9M | $-8.4M | ||
| Q3 25 | $-2.1M | $-12.6M | ||
| Q2 25 | $3.9M | $-20.3M | ||
| Q1 25 | $-87.3M | $-25.1M | ||
| Q4 24 | $432.0K | $-23.1M | ||
| Q3 24 | $-5.8M | $-23.4M | ||
| Q2 24 | $6.3M | $-33.3M | ||
| Q1 24 | $-6.7M | $-35.7M |
毛利率FORRTARS
| 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% | — | ||
| Q1 24 | 54.9% | — |
营业利润率FORRTARS
| Q4 25 | -36.6% | -5.3% | ||
| Q3 25 | 4.7% | -12.2% | ||
| Q2 25 | 6.2% | -21.6% | ||
| Q1 25 | -97.5% | -33.5% | ||
| Q4 24 | -0.5% | -36.8% | ||
| Q3 24 | -0.7% | -52.3% | ||
| Q2 24 | 9.3% | -81.6% | ||
| Q1 24 | -9.3% | -136.5% |
净利率FORRTARS
| Q4 25 | -33.5% | -5.5% | ||
| Q3 25 | -2.3% | -10.6% | ||
| Q2 25 | 3.5% | -19.8% | ||
| Q1 25 | -97.1% | -32.1% | ||
| Q4 24 | 0.4% | -34.8% | ||
| Q3 24 | -5.7% | -48.7% | ||
| Q2 24 | 5.2% | -81.6% | ||
| Q1 24 | -6.7% | -129.4% |
每股收益（稀释后）FORRTARS
| Q4 25 | $-1.75 | $-0.17 | ||
| Q3 25 | $-0.11 | $-0.30 | ||
| Q2 25 | $0.20 | $-0.48 | ||
| Q1 25 | $-4.62 | $-0.64 | ||
| Q4 24 | $0.02 | $-0.57 | ||
| Q3 24 | $-0.30 | $-0.61 | ||
| Q2 24 | $0.33 | $-0.88 | ||
| Q1 24 | $-0.35 | $-1.01 |
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 | $417.3M |
| 总债务越低越好 | — | $72.4M |
| 股东权益账面价值 | $126.5M | $343.4M |
| 总资产 | $404.0M | $562.2M |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资FORRTARS
| Q4 25 | $63.3M | $417.3M | ||
| Q3 25 | $65.1M | $401.8M | ||
| Q2 25 | $67.8M | $381.1M | ||
| Q1 25 | $75.6M | $407.9M | ||
| Q4 24 | $56.1M | $291.4M | ||
| Q3 24 | $62.8M | $317.0M | ||
| Q2 24 | $58.9M | $323.6M | ||
| Q1 24 | $61.4M | $298.5M |
总债务FORRTARS
| Q4 25 | — | $72.4M | ||
| Q3 25 | — | $72.3M | ||
| Q2 25 | — | $72.1M | ||
| Q1 25 | — | $72.0M | ||
| Q4 24 | — | $71.8M | ||
| Q3 24 | — | $71.7M | ||
| Q2 24 | — | $71.6M | ||
| Q1 24 | — | $29.9M |
股东权益FORRTARS
| Q4 25 | $126.5M | $343.4M | ||
| Q3 25 | $157.7M | $335.1M | ||
| Q2 25 | $159.5M | $332.6M | ||
| Q1 25 | $147.4M | $342.5M | ||
| Q4 24 | $229.5M | $224.5M | ||
| Q3 24 | $234.3M | $237.5M | ||
| Q2 24 | $237.1M | $252.2M | ||
| Q1 24 | $230.9M | $275.2M |
总资产FORRTARS
| Q4 25 | $404.0M | $562.2M | ||
| Q3 25 | $414.2M | $534.6M | ||
| Q2 25 | $436.0M | $495.0M | ||
| Q1 25 | $439.8M | $500.8M | ||
| Q4 24 | $503.9M | $377.0M | ||
| Q3 24 | $505.3M | $376.3M | ||
| Q2 24 | $524.2M | $376.8M | ||
| Q1 24 | $555.7M | $349.3M |
负债/权益比FORRTARS
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | 0.21× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.30× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | — | 0.11× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $13.0M |
| 自由现金流率自由现金流/营收 | -4.2% | 8.6% |
| 资本支出强度资本支出/营收 | 1.1% | 4.2% |
| 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 | $-22.3M |
8季度趋势，按日历期对齐
经营现金流FORRTARS
| Q4 25 | $-3.2M | $19.3M | ||
| Q3 25 | $1.2M | $18.3M | ||
| Q2 25 | $-3.6M | $-29.4M | ||
| Q1 25 | $26.7M | $-20.7M | ||
| Q4 24 | $-1.8M | $-22.2M | ||
| Q3 24 | $264.0K | $-8.7M | ||
| Q2 24 | $-2.9M | $-14.4M | ||
| Q1 24 | $611.0K | $-37.8M |
自由现金流FORRTARS
| Q4 25 | $-4.3M | $13.0M | ||
| Q3 25 | $524.0K | $16.3M | ||
| Q2 25 | $-4.2M | $-30.4M | ||
| Q1 25 | $26.1M | $-21.2M | ||
| Q4 24 | $-2.5M | $-22.3M | ||
| Q3 24 | $-223.0K | $-8.9M | ||
| Q2 24 | $-3.7M | $-15.4M | ||
| Q1 24 | $-815.0K | $-38.0M |
自由现金流率FORRTARS
| Q4 25 | -4.2% | 8.6% | ||
| Q3 25 | 0.6% | 13.8% | ||
| Q2 25 | -3.8% | -29.6% | ||
| Q1 25 | 29.0% | -27.1% | ||
| Q4 24 | -2.3% | -33.5% | ||
| Q3 24 | -0.2% | -18.6% | ||
| Q2 24 | -3.1% | -37.8% | ||
| Q1 24 | -0.8% | -137.5% |
资本支出强度FORRTARS
| Q4 25 | 1.1% | 4.2% | ||
| Q3 25 | 0.7% | 1.6% | ||
| Q2 25 | 0.5% | 1.0% | ||
| Q1 25 | 0.7% | 0.8% | ||
| Q4 24 | 0.6% | 0.1% | ||
| Q3 24 | 0.5% | 0.6% | ||
| Q2 24 | 0.7% | 2.5% | ||
| Q1 24 | 1.4% | 0.6% |
现金转化率FORRTARS
| 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% |
TARS
暂无分部数据
