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弗雷斯特研究公司（FORR）与Townsquare Media, Inc.（TSQ）财务数据对比。点击上方公司名可切换其他公司
Townsquare Media, Inc.的季度营收约是弗雷斯特研究公司的1.1倍（$106.5M vs $101.1M），Townsquare Media, Inc.净利率更高（-4.9% vs -33.5%，领先28.6%），弗雷斯特研究公司同比增速更快（-6.5% vs -9.6%），Townsquare Media, Inc.自由现金流更多（$9.2M vs $-4.3M），过去两年Townsquare Media, Inc.的营收复合增速更高（3.4% 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。
Townsquare Media是总部位于美国纽约州帕切斯的广播电台网络与传媒企业，该公司起步于广播业务，在2000年代末通过收购MOG音乐网络，逐步拓展数字媒体业务。截至2024年6月，Townsquare Media是美国第三大调幅调频广播运营商，在全国74个市场共拥有349家电台。
FORR vs TSQ — 直观对比
营收规模更大
TSQ
是对方的1.1倍
$101.1M
营收增速更快
FORR
高出3.1%
-9.6%
净利率更高
TSQ
高出28.6%
-33.5%
自由现金流更多
TSQ
多$13.5M
$-4.3M
两年增速更快
TSQ
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $106.5M |
| 净利润 | $-33.9M | $-5.2M |
| 毛利率 | 56.7% | 24.1% |
| 营业利润率 | -36.6% | 9.5% |
| 净利率 | -33.5% | -4.9% |
| 营收同比 | -6.5% | -9.6% |
| 净利润同比 | -7941.4% | -121.2% |
| 每股收益（稀释后） | $-1.75 | — |
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FORRTSQ
| Q4 25 | $101.1M | $106.5M | ||
| Q3 25 | $94.3M | $106.8M | ||
| Q2 25 | $111.7M | $115.4M | ||
| Q1 25 | $89.9M | $98.7M | ||
| Q4 24 | $108.0M | $117.8M | ||
| Q3 24 | $102.5M | $115.3M | ||
| Q2 24 | $121.8M | $118.2M | ||
| Q1 24 | $100.1M | $99.6M |
净利润FORRTSQ
| Q4 25 | $-33.9M | $-5.2M | ||
| Q3 25 | $-2.1M | $-5.9M | ||
| Q2 25 | $3.9M | $1.6M | ||
| Q1 25 | $-87.3M | $-2.0M | ||
| Q4 24 | $432.0K | $24.6M | ||
| Q3 24 | $-5.8M | $10.8M | ||
| Q2 24 | $6.3M | $-49.2M | ||
| Q1 24 | $-6.7M | $1.1M |
毛利率FORRTSQ
| Q4 25 | 56.7% | 24.1% | ||
| Q3 25 | 60.0% | 26.2% | ||
| Q2 25 | 55.5% | 28.3% | ||
| Q1 25 | 55.9% | 23.2% | ||
| Q4 24 | 58.8% | 31.6% | ||
| Q3 24 | 60.5% | 27.3% | ||
| Q2 24 | 57.3% | 27.7% | ||
| Q1 24 | 54.9% | 22.8% |
营业利润率FORRTSQ
| Q4 25 | -36.6% | 9.5% | ||
| Q3 25 | 4.7% | 5.6% | ||
| Q2 25 | 6.2% | 18.2% | ||
| Q1 25 | -97.5% | 7.2% | ||
| Q4 24 | -0.5% | 18.1% | ||
| Q3 24 | -0.7% | 13.1% | ||
| Q2 24 | 9.3% | -18.1% | ||
| Q1 24 | -9.3% | 6.7% |
净利率FORRTSQ
| Q4 25 | -33.5% | -4.9% | ||
| Q3 25 | -2.3% | -5.5% | ||
| Q2 25 | 3.5% | 1.4% | ||
| Q1 25 | -97.1% | -2.0% | ||
| Q4 24 | 0.4% | 20.8% | ||
| Q3 24 | -5.7% | 9.4% | ||
| Q2 24 | 5.2% | -41.7% | ||
| Q1 24 | -6.7% | 1.1% |
每股收益（稀释后）FORRTSQ
| Q4 25 | $-1.75 | — | ||
| Q3 25 | $-0.11 | $-0.36 | ||
| Q2 25 | $0.20 | $0.09 | ||
| Q1 25 | $-4.62 | $-0.12 | ||
| Q4 24 | $0.02 | $1.76 | ||
| Q3 24 | $-0.30 | $0.63 | ||
| Q2 24 | $0.33 | $-3.26 | ||
| Q1 24 | $-0.35 | $0.06 |
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 | $4.8M |
| 总债务越低越好 | — | $433.0M |
| 股东权益账面价值 | $126.5M | $-41.0M |
| 总资产 | $404.0M | $528.6M |
| 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FORRTSQ
| Q4 25 | $63.3M | $4.8M | ||
| Q3 25 | $65.1M | $3.2M | ||
| Q2 25 | $67.8M | $3.2M | ||
| Q1 25 | $75.6M | $5.5M | ||
| Q4 24 | $56.1M | $33.0M | ||
| Q3 24 | $62.8M | $21.8M | ||
| Q2 24 | $58.9M | $28.5M | ||
| Q1 24 | $61.4M | $56.6M |
总债务FORRTSQ
| Q4 25 | — | $433.0M | ||
| Q3 25 | — | $437.6M | ||
| Q2 25 | — | $439.7M | ||
| Q1 25 | — | $448.4M | ||
| Q4 24 | — | $465.8M | ||
| Q3 24 | — | $476.7M | ||
| Q2 24 | — | $487.1M | ||
| Q1 24 | — | $500.1M |
股东权益FORRTSQ
| Q4 25 | $126.5M | $-41.0M | ||
| Q3 25 | $157.7M | $-34.0M | ||
| Q2 25 | $159.5M | $-27.1M | ||
| Q1 25 | $147.4M | $-26.8M | ||
| Q4 24 | $229.5M | $-28.4M | ||
| Q3 24 | $234.3M | $-52.5M | ||
| Q2 24 | $237.1M | $-64.1M | ||
| Q1 24 | $230.9M | $1.8M |
总资产FORRTSQ
| Q4 25 | $404.0M | $528.6M | ||
| Q3 25 | $414.2M | $539.2M | ||
| Q2 25 | $436.0M | $545.7M | ||
| Q1 25 | $439.8M | $544.5M | ||
| Q4 24 | $503.9M | $580.4M | ||
| Q3 24 | $505.3M | $565.4M | ||
| Q2 24 | $524.2M | $579.6M | ||
| Q1 24 | $555.7M | $636.7M |
负债/权益比FORRTSQ
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 271.80× |
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 | $12.6M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $9.2M |
| 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% | 3.2% |
| 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 | $15.4M |
8季度趋势，按日历期对齐
经营现金流FORRTSQ
| Q4 25 | $-3.2M | $12.6M | ||
| Q3 25 | $1.2M | $7.9M | ||
| Q2 25 | $-3.6M | $10.2M | ||
| Q1 25 | $26.7M | $-66.0K | ||
| Q4 24 | $-1.8M | $28.2M | ||
| Q3 24 | $264.0K | $9.9M | ||
| Q2 24 | $-2.9M | $9.0M | ||
| Q1 24 | $611.0K | $1.7M |
自由现金流FORRTSQ
| Q4 25 | $-4.3M | $9.2M | ||
| Q3 25 | $524.0K | $4.3M | ||
| Q2 25 | $-4.2M | $6.4M | ||
| Q1 25 | $26.1M | $-4.5M | ||
| Q4 24 | $-2.5M | $24.5M | ||
| Q3 24 | $-223.0K | $4.8M | ||
| Q2 24 | $-3.7M | $4.8M | ||
| Q1 24 | $-815.0K | $-2.8M |
自由现金流率FORRTSQ
| Q4 25 | -4.2% | 8.6% | ||
| Q3 25 | 0.6% | 4.1% | ||
| Q2 25 | -3.8% | 5.5% | ||
| Q1 25 | 29.0% | -4.6% | ||
| Q4 24 | -2.3% | 20.8% | ||
| Q3 24 | -0.2% | 4.1% | ||
| Q2 24 | -3.1% | 4.0% | ||
| Q1 24 | -0.8% | -2.8% |
资本支出强度FORRTSQ
| Q4 25 | 1.1% | 3.2% | ||
| Q3 25 | 0.7% | 3.3% | ||
| Q2 25 | 0.5% | 3.3% | ||
| Q1 25 | 0.7% | 4.5% | ||
| Q4 24 | 0.6% | 3.1% | ||
| Q3 24 | 0.5% | 4.4% | ||
| Q2 24 | 0.7% | 3.6% | ||
| Q1 24 | 1.4% | 4.4% |
现金转化率FORRTSQ
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | 6.51× | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 1.15× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | 1.47× |
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% |
TSQ
| Broadcast Advertising Segment | $46.4M | 44% |
| Digital Advertising Segment | $41.7M | 39% |
| Subscription Digital Marketing Solutions Segment | $18.4M | 17% |
