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弗雷斯特研究公司（FORR）与WD 40 CO（WDFC）财务数据对比。点击上方公司名可切换其他公司
WD 40 CO的季度营收约是弗雷斯特研究公司的1.5倍（$154.4M vs $101.1M），WD 40 CO净利率更高（11.3% vs -33.5%，领先44.8%），WD 40 CO同比增速更快（0.6% vs -6.5%），WD 40 CO自由现金流更多（$9.1M vs $-4.3M），过去两年WD 40 CO的营收复合增速更高（5.4% 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。
WD-40公司是全球知名的消费及工业维护用品生产商，核心产品为同名多功能防锈润滑剂，同时布局清洁剂、除油剂、特殊润滑产品等品类，业务覆盖全球170余个国家和地区，服务零售、工业、汽车后市场等多个领域。
FORR vs WDFC — 直观对比
营收规模更大
WDFC
是对方的1.5倍
$101.1M
营收增速更快
WDFC
高出7.1%
-6.5%
净利率更高
WDFC
高出44.8%
-33.5%
自由现金流更多
WDFC
多$13.3M
$-4.3M
两年增速更快
WDFC
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $154.4M |
| 净利润 | $-33.9M | $17.5M |
| 毛利率 | 56.7% | 56.2% |
| 营业利润率 | -36.6% | 15.1% |
| 净利率 | -33.5% | 11.3% |
| 营收同比 | -6.5% | 0.6% |
| 净利润同比 | -7941.4% | -7.8% |
| 每股收益（稀释后） | $-1.75 | $1.28 |
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FORRWDFC
| Q4 25 | $101.1M | $154.4M | ||
| Q3 25 | $94.3M | $163.5M | ||
| Q2 25 | $111.7M | $156.9M | ||
| Q1 25 | $89.9M | $146.1M | ||
| Q4 24 | $108.0M | $153.5M | ||
| Q3 24 | $102.5M | $156.0M | ||
| Q2 24 | $121.8M | $155.0M | ||
| Q1 24 | $100.1M | $139.1M |
净利润FORRWDFC
| Q4 25 | $-33.9M | $17.5M | ||
| Q3 25 | $-2.1M | $21.2M | ||
| Q2 25 | $3.9M | $21.0M | ||
| Q1 25 | $-87.3M | $29.9M | ||
| Q4 24 | $432.0K | $18.9M | ||
| Q3 24 | $-5.8M | $16.8M | ||
| Q2 24 | $6.3M | $19.8M | ||
| Q1 24 | $-6.7M | $15.5M |
毛利率FORRWDFC
| Q4 25 | 56.7% | 56.2% | ||
| Q3 25 | 60.0% | 54.7% | ||
| Q2 25 | 55.5% | 56.2% | ||
| Q1 25 | 55.9% | 54.6% | ||
| Q4 24 | 58.8% | 54.8% | ||
| Q3 24 | 60.5% | 54.1% | ||
| Q2 24 | 57.3% | 53.1% | ||
| Q1 24 | 54.9% | 52.4% |
营业利润率FORRWDFC
| Q4 25 | -36.6% | 15.1% | ||
| Q3 25 | 4.7% | 17.1% | ||
| Q2 25 | 6.2% | 17.4% | ||
| Q1 25 | -97.5% | 15.9% | ||
| Q4 24 | -0.5% | 16.4% | ||
| Q3 24 | -0.7% | 15.4% | ||
| Q2 24 | 9.3% | 17.5% | ||
| Q1 24 | -9.3% | 15.1% |
净利率FORRWDFC
| Q4 25 | -33.5% | 11.3% | ||
| Q3 25 | -2.3% | 13.0% | ||
| Q2 25 | 3.5% | 13.4% | ||
| Q1 25 | -97.1% | 20.4% | ||
| Q4 24 | 0.4% | 12.3% | ||
| Q3 24 | -5.7% | 10.8% | ||
| Q2 24 | 5.2% | 12.8% | ||
| Q1 24 | -6.7% | 11.2% |
每股收益（稀释后）FORRWDFC
| Q4 25 | $-1.75 | $1.28 | ||
| Q3 25 | $-0.11 | $1.57 | ||
| Q2 25 | $0.20 | $1.54 | ||
| Q1 25 | $-4.62 | $2.19 | ||
| Q4 24 | $0.02 | $1.39 | ||
| Q3 24 | $-0.30 | $1.23 | ||
| Q2 24 | $0.33 | $1.46 | ||
| Q1 24 | $-0.35 | $1.14 |
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 | $48.6M |
| 总债务越低越好 | — | $85.7M |
| 股东权益账面价值 | $126.5M | $264.1M |
| 总资产 | $404.0M | $459.7M |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资FORRWDFC
| Q4 25 | $63.3M | $48.6M | ||
| Q3 25 | $65.1M | $58.1M | ||
| Q2 25 | $67.8M | $51.7M | ||
| Q1 25 | $75.6M | $53.0M | ||
| Q4 24 | $56.1M | $54.9M | ||
| Q3 24 | $62.8M | $46.7M | ||
| Q2 24 | $58.9M | $45.3M | ||
| Q1 24 | $61.4M | $55.4M |
总债务FORRWDFC
| Q4 25 | — | $85.7M | ||
| Q3 25 | — | $86.2M | ||
| Q2 25 | — | $85.6M | ||
| Q1 25 | — | $84.4M | ||
| Q4 24 | — | $84.6M | ||
| Q3 24 | — | $86.0M | ||
| Q2 24 | — | $85.5M | ||
| Q1 24 | — | $85.9M |
股东权益FORRWDFC
| Q4 25 | $126.5M | $264.1M | ||
| Q3 25 | $157.7M | $268.2M | ||
| Q2 25 | $159.5M | $257.1M | ||
| Q1 25 | $147.4M | $242.1M | ||
| Q4 24 | $229.5M | $226.3M | ||
| Q3 24 | $234.3M | $230.5M | ||
| Q2 24 | $237.1M | $222.2M | ||
| Q1 24 | $230.9M | $216.3M |
总资产FORRWDFC
| Q4 25 | $404.0M | $459.7M | ||
| Q3 25 | $414.2M | $475.8M | ||
| Q2 25 | $436.0M | $456.0M | ||
| Q1 25 | $439.8M | $458.3M | ||
| Q4 24 | $503.9M | $447.3M | ||
| Q3 24 | $505.3M | $449.0M | ||
| Q2 24 | $524.2M | $443.6M | ||
| Q1 24 | $555.7M | $442.0M |
负债/权益比FORRWDFC
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.37× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | — | 0.40× |
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 | $10.0M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $9.1M |
| 自由现金流率自由现金流/营收 | -4.2% | 5.9% |
| 资本支出强度资本支出/营收 | 1.1% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 0.57× |
| 过去12个月自由现金流最近4个季度 | $18.1M | $78.2M |
8季度趋势，按日历期对齐
经营现金流FORRWDFC
| Q4 25 | $-3.2M | $10.0M | ||
| Q3 25 | $1.2M | $29.9M | ||
| Q2 25 | $-3.6M | $35.1M | ||
| Q1 25 | $26.7M | $8.0M | ||
| Q4 24 | $-1.8M | $14.9M | ||
| Q3 24 | $264.0K | $27.2M | ||
| Q2 24 | $-2.9M | $19.9M | ||
| Q1 24 | $611.0K | $18.0M |
自由现金流FORRWDFC
| Q4 25 | $-4.3M | $9.1M | ||
| Q3 25 | $524.0K | $28.6M | ||
| Q2 25 | $-4.2M | $34.0M | ||
| Q1 25 | $26.1M | $6.6M | ||
| Q4 24 | $-2.5M | $14.2M | ||
| Q3 24 | $-223.0K | $26.4M | ||
| Q2 24 | $-3.7M | $18.7M | ||
| Q1 24 | $-815.0K | $16.7M |
自由现金流率FORRWDFC
| Q4 25 | -4.2% | 5.9% | ||
| Q3 25 | 0.6% | 17.5% | ||
| Q2 25 | -3.8% | 21.6% | ||
| Q1 25 | 29.0% | 4.5% | ||
| Q4 24 | -2.3% | 9.3% | ||
| Q3 24 | -0.2% | 16.9% | ||
| Q2 24 | -3.1% | 12.0% | ||
| Q1 24 | -0.8% | 12.0% |
资本支出强度FORRWDFC
| Q4 25 | 1.1% | 0.6% | ||
| Q3 25 | 0.7% | 0.8% | ||
| Q2 25 | 0.5% | 0.7% | ||
| Q1 25 | 0.7% | 0.9% | ||
| Q4 24 | 0.6% | 0.5% | ||
| Q3 24 | 0.5% | 0.5% | ||
| Q2 24 | 0.7% | 0.8% | ||
| Q1 24 | 1.4% | 0.9% |
现金转化率FORRWDFC
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | -0.93× | 1.67× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | -4.24× | 0.79× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | -0.46× | 1.00× | ||
| Q1 24 | — | 1.16× |
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% |
WDFC
| Other | $82.6M | 53% |
| WD40Multi Use Product | $56.0M | 36% |
| WD40Specialist | $9.0M | 6% |
| Other Maintenance Products | $4.0M | 3% |
| Homecare And Cleaning Products | $2.7M | 2% |
