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弗雷斯特研究公司（FORR）与合众银行（WASH）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合众银行的1.7倍（$101.1M vs $57.8M），合众银行净利率更高（21.8% vs -33.5%，领先55.3%），过去两年合众银行的营收复合增速更高（9.5% 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。
美国合众银行是一家美国跨国金融机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年，该银行为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的金融机构。它主营银行、投资、抵押贷款等多元金融业务。
FORR vs WASH — 直观对比
营收规模更大
FORR
是对方的1.7倍
$57.8M
净利率更高
WASH
高出55.3%
-33.5%
两年增速更快
WASH
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $57.8M |
| 净利润 | $-33.9M | $12.6M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | — |
| 净利率 | -33.5% | 21.8% |
| 营收同比 | -6.5% | — |
| 净利润同比 | -7941.4% | 3.5% |
| 每股收益（稀释后） | $-1.75 | $0.66 |
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FORRWASH
| Q1 26 | — | $57.8M | ||
| Q4 25 | $101.1M | $59.3M | ||
| Q3 25 | $94.3M | $56.5M | ||
| Q2 25 | $111.7M | $54.3M | ||
| Q1 25 | $89.9M | $59.1M | ||
| Q4 24 | $108.0M | $12.4M | ||
| Q3 24 | $102.5M | $48.5M | ||
| Q2 24 | $121.8M | $48.2M |
净利润FORRWASH
| Q1 26 | — | $12.6M | ||
| Q4 25 | $-33.9M | $16.0M | ||
| Q3 25 | $-2.1M | $10.8M | ||
| Q2 25 | $3.9M | $13.2M | ||
| Q1 25 | $-87.3M | $12.2M | ||
| Q4 24 | $432.0K | $-60.8M | ||
| Q3 24 | $-5.8M | $11.0M | ||
| Q2 24 | $6.3M | $10.8M |
毛利率FORRWASH
| 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FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | -36.6% | 34.9% | ||
| Q3 25 | 4.7% | 24.7% | ||
| Q2 25 | 6.2% | 31.6% | ||
| Q1 25 | -97.5% | 26.5% | ||
| Q4 24 | -0.5% | -648.7% | ||
| Q3 24 | -0.7% | 28.5% | ||
| Q2 24 | 9.3% | 28.7% |
净利率FORRWASH
| Q1 26 | — | 21.8% | ||
| Q4 25 | -33.5% | 27.0% | ||
| Q3 25 | -2.3% | 19.2% | ||
| Q2 25 | 3.5% | 24.4% | ||
| Q1 25 | -97.1% | 20.6% | ||
| Q4 24 | 0.4% | -491.4% | ||
| Q3 24 | -5.7% | 22.6% | ||
| Q2 24 | 5.2% | 22.4% |
每股收益（稀释后）FORRWASH
| Q1 26 | — | $0.66 | ||
| Q4 25 | $-1.75 | $0.84 | ||
| Q3 25 | $-0.11 | $0.56 | ||
| Q2 25 | $0.20 | $0.68 | ||
| Q1 25 | $-4.62 | $0.63 | ||
| Q4 24 | $0.02 | $-3.54 | ||
| Q3 24 | $-0.30 | $0.64 | ||
| Q2 24 | $0.33 | $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 | $12.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | $546.8M |
| 总资产 | $404.0M | $6.5B |
| 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FORRWASH
| Q1 26 | — | $12.3M | ||
| Q4 25 | $63.3M | — | ||
| Q3 25 | $65.1M | — | ||
| Q2 25 | $67.8M | — | ||
| Q1 25 | $75.6M | — | ||
| Q4 24 | $56.1M | — | ||
| Q3 24 | $62.8M | — | ||
| Q2 24 | $58.9M | — |
股东权益FORRWASH
| Q1 26 | — | $546.8M | ||
| Q4 25 | $126.5M | $543.6M | ||
| Q3 25 | $157.7M | $533.0M | ||
| Q2 25 | $159.5M | $527.5M | ||
| Q1 25 | $147.4M | $521.7M | ||
| Q4 24 | $229.5M | $499.7M | ||
| Q3 24 | $234.3M | $502.2M | ||
| Q2 24 | $237.1M | $471.0M |
总资产FORRWASH
| Q1 26 | — | $6.5B | ||
| Q4 25 | $404.0M | $6.6B | ||
| Q3 25 | $414.2M | $6.7B | ||
| Q2 25 | $436.0M | $6.7B | ||
| Q1 25 | $439.8M | $6.6B | ||
| Q4 24 | $503.9M | $6.9B | ||
| Q3 24 | $505.3M | $7.1B | ||
| Q2 24 | $524.2M | $7.2B |
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FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $80.3M | ||
| Q3 25 | $1.2M | $39.6M | ||
| Q2 25 | $-3.6M | $11.3M | ||
| Q1 25 | $26.7M | $8.4M | ||
| Q4 24 | $-1.8M | $57.7M | ||
| Q3 24 | $264.0K | $25.7M | ||
| Q2 24 | $-2.9M | $11.2M |
自由现金流FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $78.3M | ||
| Q3 25 | $524.0K | $39.3M | ||
| Q2 25 | $-4.2M | $10.9M | ||
| Q1 25 | $26.1M | $8.4M | ||
| Q4 24 | $-2.5M | $53.7M | ||
| Q3 24 | $-223.0K | $24.4M | ||
| Q2 24 | $-3.7M | $9.6M |
自由现金流率FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 132.2% | ||
| Q3 25 | 0.6% | 69.6% | ||
| Q2 25 | -3.8% | 20.2% | ||
| Q1 25 | 29.0% | 14.2% | ||
| Q4 24 | -2.3% | 433.8% | ||
| Q3 24 | -0.2% | 50.4% | ||
| Q2 24 | -3.1% | 19.8% |
资本支出强度FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 3.4% | ||
| Q3 25 | 0.7% | 0.6% | ||
| Q2 25 | 0.5% | 0.7% | ||
| Q1 25 | 0.7% | 0.1% | ||
| Q4 24 | 0.6% | 32.3% | ||
| Q3 24 | 0.5% | 2.6% | ||
| Q2 24 | 0.7% | 3.4% |
现金转化率FORRWASH
| Q1 26 | — | — | ||
| Q4 25 | — | 5.03× | ||
| Q3 25 | — | 3.65× | ||
| Q2 25 | -0.93× | 0.86× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | -4.24× | — | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | -0.46× | 1.03× |
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% |
WASH
| Net Interest Income | $40.5M | 70% |
| Noninterest Income | $17.3M | 30% |
