vs
弗雷斯特研究公司（FORR）与Turning Point Brands, Inc.（TPB）财务数据对比。点击上方公司名可切换其他公司
Turning Point Brands, Inc.的季度营收约是弗雷斯特研究公司的1.2倍（$121.0M vs $101.1M），Turning Point Brands, Inc.净利率更高（6.8% vs -33.5%，领先40.3%），Turning Point Brands, Inc.同比增速更快（29.2% vs -6.5%），Turning Point Brands, Inc.自由现金流更多（$21.5M vs $-4.3M），过去两年Turning Point Brands, Inc.的营收复合增速更高（20.7% 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。
Turning Point Australia（TPAUS）是一家位于澳大利亚的保守派游说团体，隶属于美国转折点组织但保持独立运营，由乔尔·贾马尔创立并于2023年完成注册。该团体目前正积极行动，试图影响2026年3月举行的南澳大利亚州选举结果。
FORR vs TPB — 直观对比
营收规模更大
TPB
是对方的1.2倍
$101.1M
营收增速更快
TPB
高出35.7%
-6.5%
净利率更高
TPB
高出40.3%
-33.5%
自由现金流更多
TPB
多$25.8M
$-4.3M
两年增速更快
TPB
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $121.0M |
| 净利润 | $-33.9M | $8.2M |
| 毛利率 | 56.7% | 55.9% |
| 营业利润率 | -36.6% | 16.5% |
| 净利率 | -33.5% | 6.8% |
| 营收同比 | -6.5% | 29.2% |
| 净利润同比 | -7941.4% | 239.8% |
| 每股收益（稀释后） | $-1.75 | $0.40 |
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FORRTPB
| Q4 25 | $101.1M | $121.0M | ||
| Q3 25 | $94.3M | $119.0M | ||
| Q2 25 | $111.7M | $116.6M | ||
| Q1 25 | $89.9M | $106.4M | ||
| Q4 24 | $108.0M | $93.7M | ||
| Q3 24 | $102.5M | $90.7M | ||
| Q2 24 | $121.8M | $93.2M | ||
| Q1 24 | $100.1M | $83.1M |
净利润FORRTPB
| Q4 25 | $-33.9M | $8.2M | ||
| Q3 25 | $-2.1M | $21.1M | ||
| Q2 25 | $3.9M | $14.5M | ||
| Q1 25 | $-87.3M | $14.4M | ||
| Q4 24 | $432.0K | $2.4M | ||
| Q3 24 | $-5.8M | $12.4M | ||
| Q2 24 | $6.3M | $13.0M | ||
| Q1 24 | $-6.7M | $12.0M |
毛利率FORRTPB
| Q4 25 | 56.7% | 55.9% | ||
| Q3 25 | 60.0% | 59.2% | ||
| Q2 25 | 55.5% | 57.1% | ||
| Q1 25 | 55.9% | 56.0% | ||
| Q4 24 | 58.8% | 56.0% | ||
| Q3 24 | 60.5% | 55.6% | ||
| Q2 24 | 57.3% | 54.1% | ||
| Q1 24 | 54.9% | 58.2% |
营业利润率FORRTPB
| Q4 25 | -36.6% | 16.5% | ||
| Q3 25 | 4.7% | 21.8% | ||
| Q2 25 | 6.2% | 22.6% | ||
| Q1 25 | -97.5% | 21.8% | ||
| Q4 24 | -0.5% | 19.1% | ||
| Q3 24 | -0.7% | 22.9% | ||
| Q2 24 | 9.3% | 24.5% | ||
| Q1 24 | -9.3% | 23.2% |
净利率FORRTPB
| Q4 25 | -33.5% | 6.8% | ||
| Q3 25 | -2.3% | 17.7% | ||
| Q2 25 | 3.5% | 12.4% | ||
| Q1 25 | -97.1% | 13.5% | ||
| Q4 24 | 0.4% | 2.6% | ||
| Q3 24 | -5.7% | 13.6% | ||
| Q2 24 | 5.2% | 14.0% | ||
| Q1 24 | -6.7% | 14.5% |
每股收益（稀释后）FORRTPB
| Q4 25 | $-1.75 | $0.40 | ||
| Q3 25 | $-0.11 | $1.13 | ||
| Q2 25 | $0.20 | $0.79 | ||
| Q1 25 | $-4.62 | $0.79 | ||
| Q4 24 | $0.02 | $0.15 | ||
| Q3 24 | $-0.30 | $0.68 | ||
| Q2 24 | $0.33 | $0.68 | ||
| Q1 24 | $-0.35 | $0.63 |
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 | $222.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $372.0M |
| 总资产 | $404.0M | $763.8M |
| 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FORRTPB
| Q4 25 | $63.3M | $222.8M | ||
| Q3 25 | $65.1M | $201.2M | ||
| Q2 25 | $67.8M | $109.9M | ||
| Q1 25 | $75.6M | $99.6M | ||
| Q4 24 | $56.1M | $48.9M | ||
| Q3 24 | $62.8M | $33.6M | ||
| Q2 24 | $58.9M | $142.2M | ||
| Q1 24 | $61.4M | $130.9M |
股东权益FORRTPB
| Q4 25 | $126.5M | $372.0M | ||
| Q3 25 | $157.7M | $358.2M | ||
| Q2 25 | $159.5M | $224.8M | ||
| Q1 25 | $147.4M | $203.4M | ||
| Q4 24 | $229.5M | $190.4M | ||
| Q3 24 | $234.3M | $185.7M | ||
| Q2 24 | $237.1M | $172.8M | ||
| Q1 24 | $230.9M | $160.0M |
总资产FORRTPB
| Q4 25 | $404.0M | $763.8M | ||
| Q3 25 | $414.2M | $742.8M | ||
| Q2 25 | $436.0M | $595.8M | ||
| Q1 25 | $439.8M | $564.6M | ||
| Q4 24 | $503.9M | $493.4M | ||
| Q3 24 | $505.3M | $488.0M | ||
| Q2 24 | $524.2M | $591.6M | ||
| Q1 24 | $555.7M | $586.3M |
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 | $24.9M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $21.5M |
| 自由现金流率自由现金流/营收 | -4.2% | 17.8% |
| 资本支出强度资本支出/营收 | 1.1% | 2.8% |
| 现金转化率经营现金流/净利润 | — | 3.03× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $43.8M |
8季度趋势，按日历期对齐
经营现金流FORRTPB
| Q4 25 | $-3.2M | $24.9M | ||
| Q3 25 | $1.2M | $3.3M | ||
| Q2 25 | $-3.6M | $11.8M | ||
| Q1 25 | $26.7M | $17.4M | ||
| Q4 24 | $-1.8M | $17.7M | ||
| Q3 24 | $264.0K | $13.2M | ||
| Q2 24 | $-2.9M | $13.4M | ||
| Q1 24 | $611.0K | $22.6M |
自由现金流FORRTPB
| Q4 25 | $-4.3M | $21.5M | ||
| Q3 25 | $524.0K | $-721.0K | ||
| Q2 25 | $-4.2M | $7.8M | ||
| Q1 25 | $26.1M | $15.2M | ||
| Q4 24 | $-2.5M | $16.6M | ||
| Q3 24 | $-223.0K | $12.6M | ||
| Q2 24 | $-3.7M | $10.9M | ||
| Q1 24 | $-815.0K | $22.3M |
自由现金流率FORRTPB
| Q4 25 | -4.2% | 17.8% | ||
| Q3 25 | 0.6% | -0.6% | ||
| Q2 25 | -3.8% | 6.7% | ||
| Q1 25 | 29.0% | 14.3% | ||
| Q4 24 | -2.3% | 17.8% | ||
| Q3 24 | -0.2% | 13.9% | ||
| Q2 24 | -3.1% | 11.7% | ||
| Q1 24 | -0.8% | 26.8% |
资本支出强度FORRTPB
| Q4 25 | 1.1% | 2.8% | ||
| Q3 25 | 0.7% | 3.4% | ||
| Q2 25 | 0.5% | 3.4% | ||
| Q1 25 | 0.7% | 2.1% | ||
| Q4 24 | 0.6% | 1.2% | ||
| Q3 24 | 0.5% | 0.7% | ||
| Q2 24 | 0.7% | 2.7% | ||
| Q1 24 | 1.4% | 0.4% |
现金转化率FORRTPB
| Q4 25 | — | 3.03× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | -0.93× | 0.82× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | -4.24× | 7.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | -0.46× | 1.03× | ||
| Q1 24 | — | 1.89× |
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% |
TPB
| US | $111.5M | 92% |
| Non Us | $9.6M | 8% |
