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弗雷斯特研究公司（FORR）与TACTILE SYSTEMS TECHNOLOGY INC（TCMD）财务数据对比。点击上方公司名可切换其他公司
TACTILE SYSTEMS TECHNOLOGY INC的季度营收约是弗雷斯特研究公司的1.0倍（$103.6M vs $101.1M），TACTILE SYSTEMS TECHNOLOGY INC净利率更高（10.3% vs -33.5%，领先43.8%），TACTILE SYSTEMS TECHNOLOGY INC同比增速更快（21.0% vs -6.5%），TACTILE SYSTEMS TECHNOLOGY INC自由现金流更多（$16.8M vs $-4.3M），过去两年TACTILE SYSTEMS TECHNOLOGY INC的营收复合增速更高（30.2% 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。
Dominion Voting Systems Corporation是一家北美企业，在加拿大和美国研发、销售电子投票相关的硬件与软件产品，涵盖投票设备和计票设备等，是该区域电子投票领域的主要供应商之一。
FORR vs TCMD — 直观对比
营收规模更大
TCMD
是对方的1.0倍
$101.1M
营收增速更快
TCMD
高出27.5%
-6.5%
净利率更高
TCMD
高出43.8%
-33.5%
自由现金流更多
TCMD
多$21.1M
$-4.3M
两年增速更快
TCMD
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $103.6M |
| 净利润 | $-33.9M | $10.6M |
| 毛利率 | 56.7% | 78.2% |
| 营业利润率 | -36.6% | 18.1% |
| 净利率 | -33.5% | 10.3% |
| 营收同比 | -6.5% | 21.0% |
| 净利润同比 | -7941.4% | 9.4% |
| 每股收益（稀释后） | $-1.75 | $0.45 |
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FORRTCMD
| Q4 25 | $101.1M | $103.6M | ||
| Q3 25 | $94.3M | $85.8M | ||
| Q2 25 | $111.7M | $78.9M | ||
| Q1 25 | $89.9M | $61.3M | ||
| Q4 24 | $108.0M | $85.6M | ||
| Q3 24 | $102.5M | $73.1M | ||
| Q2 24 | $121.8M | $73.2M | ||
| Q1 24 | $100.1M | $61.1M |
净利润FORRTCMD
| Q4 25 | $-33.9M | $10.6M | ||
| Q3 25 | $-2.1M | $8.2M | ||
| Q2 25 | $3.9M | $3.2M | ||
| Q1 25 | $-87.3M | $-3.0M | ||
| Q4 24 | $432.0K | $9.7M | ||
| Q3 24 | $-5.8M | $5.2M | ||
| Q2 24 | $6.3M | $4.3M | ||
| Q1 24 | $-6.7M | $-2.2M |
毛利率FORRTCMD
| Q4 25 | 56.7% | 78.2% | ||
| Q3 25 | 60.0% | 75.8% | ||
| Q2 25 | 55.5% | 74.5% | ||
| Q1 25 | 55.9% | 74.0% | ||
| Q4 24 | 58.8% | 75.2% | ||
| Q3 24 | 60.5% | 75.0% | ||
| Q2 24 | 57.3% | 73.9% | ||
| Q1 24 | 54.9% | 71.1% |
营业利润率FORRTCMD
| Q4 25 | -36.6% | 18.1% | ||
| Q3 25 | 4.7% | 12.8% | ||
| Q2 25 | 6.2% | 5.2% | ||
| Q1 25 | -97.5% | -7.4% | ||
| Q4 24 | -0.5% | 14.6% | ||
| Q3 24 | -0.7% | 9.3% | ||
| Q2 24 | 9.3% | 8.0% | ||
| Q1 24 | -9.3% | -4.9% |
净利率FORRTCMD
| Q4 25 | -33.5% | 10.3% | ||
| Q3 25 | -2.3% | 9.6% | ||
| Q2 25 | 3.5% | 4.1% | ||
| Q1 25 | -97.1% | -4.9% | ||
| Q4 24 | 0.4% | 11.4% | ||
| Q3 24 | -5.7% | 7.1% | ||
| Q2 24 | 5.2% | 5.9% | ||
| Q1 24 | -6.7% | -3.6% |
每股收益（稀释后）FORRTCMD
| Q4 25 | $-1.75 | $0.45 | ||
| Q3 25 | $-0.11 | $0.36 | ||
| Q2 25 | $0.20 | $0.14 | ||
| Q1 25 | $-4.62 | $-0.13 | ||
| Q4 24 | $0.02 | $0.40 | ||
| Q3 24 | $-0.30 | $0.21 | ||
| Q2 24 | $0.33 | $0.18 | ||
| Q1 24 | $-0.35 | $-0.09 |
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 | $83.4M |
| 总债务越低越好 | — | $0 |
| 股东权益账面价值 | $126.5M | $218.9M |
| 总资产 | $404.0M | $273.9M |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FORRTCMD
| Q4 25 | $63.3M | $83.4M | ||
| Q3 25 | $65.1M | $66.0M | ||
| Q2 25 | $67.8M | $81.5M | ||
| Q1 25 | $75.6M | $83.6M | ||
| Q4 24 | $56.1M | $94.4M | ||
| Q3 24 | $62.8M | $82.1M | ||
| Q2 24 | $58.9M | $73.6M | ||
| Q1 24 | $61.4M | $60.7M |
总债务FORRTCMD
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $27.0M | ||
| Q2 24 | — | $27.8M | ||
| Q1 24 | — | $28.5M |
股东权益FORRTCMD
| Q4 25 | $126.5M | $218.9M | ||
| Q3 25 | $157.7M | $204.9M | ||
| Q2 25 | $159.5M | $194.9M | ||
| Q1 25 | $147.4M | $205.6M | ||
| Q4 24 | $229.5M | $216.6M | ||
| Q3 24 | $234.3M | $207.9M | ||
| Q2 24 | $237.1M | $200.7M | ||
| Q1 24 | $230.9M | $193.5M |
总资产FORRTCMD
| Q4 25 | $404.0M | $273.9M | ||
| Q3 25 | $414.2M | $259.2M | ||
| Q2 25 | $436.0M | $273.0M | ||
| Q1 25 | $439.8M | $280.2M | ||
| Q4 24 | $503.9M | $297.9M | ||
| Q3 24 | $505.3M | $287.7M | ||
| Q2 24 | $524.2M | $278.8M | ||
| Q1 24 | $555.7M | $272.0M |
负债/权益比FORRTCMD
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.15× |
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 | $17.3M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $16.8M |
| 自由现金流率自由现金流/营收 | -4.2% | 16.2% |
| 资本支出强度资本支出/营收 | 1.1% | 0.5% |
| 现金转化率经营现金流/净利润 | — | 1.63× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $40.4M |
8季度趋势，按日历期对齐
经营现金流FORRTCMD
| Q4 25 | $-3.2M | $17.3M | ||
| Q3 25 | $1.2M | $10.3M | ||
| Q2 25 | $-3.6M | $14.8M | ||
| Q1 25 | $26.7M | $417.0K | ||
| Q4 24 | $-1.8M | $16.3M | ||
| Q3 24 | $264.0K | $10.3M | ||
| Q2 24 | $-2.9M | $13.1M | ||
| Q1 24 | $611.0K | $924.0K |
自由现金流FORRTCMD
| Q4 25 | $-4.3M | $16.8M | ||
| Q3 25 | $524.0K | $9.2M | ||
| Q2 25 | $-4.2M | $14.4M | ||
| Q1 25 | $26.1M | $38.0K | ||
| Q4 24 | $-2.5M | $15.9M | ||
| Q3 24 | $-223.0K | $9.3M | ||
| Q2 24 | $-3.7M | $12.6M | ||
| Q1 24 | $-815.0K | $442.0K |
自由现金流率FORRTCMD
| Q4 25 | -4.2% | 16.2% | ||
| Q3 25 | 0.6% | 10.8% | ||
| Q2 25 | -3.8% | 18.2% | ||
| Q1 25 | 29.0% | 0.1% | ||
| Q4 24 | -2.3% | 18.5% | ||
| Q3 24 | -0.2% | 12.7% | ||
| Q2 24 | -3.1% | 17.3% | ||
| Q1 24 | -0.8% | 0.7% |
资本支出强度FORRTCMD
| Q4 25 | 1.1% | 0.5% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 0.7% | 0.6% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.5% | 1.3% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 1.4% | 0.8% |
现金转化率FORRTCMD
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | -0.93× | 4.59× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 1.68× | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | -0.46× | 3.06× | ||
| 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% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
