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弗雷斯特研究公司（FORR）与Wingstop Inc.（WING）财务数据对比。点击上方公司名可切换其他公司
Wingstop Inc.的季度营收约是弗雷斯特研究公司的1.8倍（$183.7M vs $101.1M），Wingstop Inc.净利率更高（16.3% vs -33.5%，领先49.8%），Wingstop Inc.同比增速更快（7.4% vs -6.5%），过去两年Wingstop Inc.的营收复合增速更高（8.6% 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。
Wingstop Inc.是美国知名跨国快餐连锁品牌，核心产品为布法罗鸡翅，旗下门店均采用20世纪30至40年代喷气时代前的航空主题装饰风格，目前业务已覆盖全球多个国家和地区。
FORR vs WING — 直观对比
营收规模更大
WING
是对方的1.8倍
$101.1M
营收增速更快
WING
高出13.8%
-6.5%
净利率更高
WING
高出49.8%
-33.5%
两年增速更快
WING
近两年复合增速
0.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $183.7M |
| 净利润 | $-33.9M | $29.9M |
| 毛利率 | 56.7% | 86.5% |
| 营业利润率 | -36.6% | 27.4% |
| 净利率 | -33.5% | 16.3% |
| 营收同比 | -6.5% | 7.4% |
| 净利润同比 | -7941.4% | — |
| 每股收益（稀释后） | $-1.75 | $1.08 |
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FORRWING
| Q1 26 | — | $183.7M | ||
| Q4 25 | $101.1M | $175.7M | ||
| Q3 25 | $94.3M | $175.7M | ||
| Q2 25 | $111.7M | $174.3M | ||
| Q1 25 | $89.9M | $171.1M | ||
| Q4 24 | $108.0M | $161.8M | ||
| Q3 24 | $102.5M | $162.5M | ||
| Q2 24 | $121.8M | $155.7M |
净利润FORRWING
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-33.9M | $26.8M | ||
| Q3 25 | $-2.1M | $28.5M | ||
| Q2 25 | $3.9M | $26.8M | ||
| Q1 25 | $-87.3M | $92.3M | ||
| Q4 24 | $432.0K | $26.8M | ||
| Q3 24 | $-5.8M | $25.7M | ||
| Q2 24 | $6.3M | $27.5M |
毛利率FORRWING
| Q1 26 | — | 86.5% | ||
| Q4 25 | 56.7% | — | ||
| Q3 25 | 60.0% | — | ||
| Q2 25 | 55.5% | — | ||
| Q1 25 | 55.9% | — | ||
| Q4 24 | 58.8% | 85.6% | ||
| Q3 24 | 60.5% | 85.0% | ||
| Q2 24 | 57.3% | 85.4% |
营业利润率FORRWING
| Q1 26 | — | 27.4% | ||
| Q4 25 | -36.6% | 26.7% | ||
| Q3 25 | 4.7% | 27.9% | ||
| Q2 25 | 6.2% | 25.9% | ||
| Q1 25 | -97.5% | 22.4% | ||
| Q4 24 | -0.5% | 25.9% | ||
| Q3 24 | -0.7% | 24.5% | ||
| Q2 24 | 9.3% | 26.5% |
净利率FORRWING
| Q1 26 | — | 16.3% | ||
| Q4 25 | -33.5% | 15.2% | ||
| Q3 25 | -2.3% | 16.2% | ||
| Q2 25 | 3.5% | 15.4% | ||
| Q1 25 | -97.1% | 53.9% | ||
| Q4 24 | 0.4% | 16.5% | ||
| Q3 24 | -5.7% | 15.8% | ||
| Q2 24 | 5.2% | 17.7% |
每股收益（稀释后）FORRWING
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-1.75 | $0.99 | ||
| Q3 25 | $-0.11 | $1.02 | ||
| Q2 25 | $0.20 | $0.96 | ||
| Q1 25 | $-4.62 | $3.24 | ||
| Q4 24 | $0.02 | $0.91 | ||
| Q3 24 | $-0.30 | $0.88 | ||
| Q2 24 | $0.33 | $0.93 |
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 | $128.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $126.5M | — |
| 总资产 | $404.0M | $648.9M |
| 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FORRWING
| Q1 26 | — | $128.8M | ||
| Q4 25 | $63.3M | $196.6M | ||
| Q3 25 | $65.1M | $237.6M | ||
| Q2 25 | $67.8M | $227.9M | ||
| Q1 25 | $75.6M | $251.4M | ||
| Q4 24 | $56.1M | $315.9M | ||
| Q3 24 | $62.8M | $84.0M | ||
| Q2 24 | $58.9M | $96.7M |
总债务FORRWING
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益FORRWING
| Q1 26 | — | — | ||
| Q4 25 | $126.5M | $-736.8M | ||
| Q3 25 | $157.7M | $-702.6M | ||
| Q2 25 | $159.5M | $-686.0M | ||
| Q1 25 | $147.4M | $-715.0M | ||
| Q4 24 | $229.5M | $-675.6M | ||
| Q3 24 | $234.3M | $-447.5M | ||
| Q2 24 | $237.1M | $-437.5M |
总资产FORRWING
| Q1 26 | — | $648.9M | ||
| Q4 25 | $404.0M | $693.4M | ||
| Q3 25 | $414.2M | $721.0M | ||
| Q2 25 | $436.0M | $708.3M | ||
| Q1 25 | $439.8M | $696.8M | ||
| Q4 24 | $503.9M | $716.2M | ||
| Q3 24 | $505.3M | $484.8M | ||
| Q2 24 | $524.2M | $451.8M |
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FORRWING
| Q1 26 | — | — | ||
| Q4 25 | $-3.2M | $57.3M | ||
| Q3 25 | $1.2M | $63.9M | ||
| Q2 25 | $-3.6M | $6.6M | ||
| Q1 25 | $26.7M | $25.3M | ||
| Q4 24 | $-1.8M | $7.7M | ||
| Q3 24 | $264.0K | $69.0M | ||
| Q2 24 | $-2.9M | $36.2M |
自由现金流FORRWING
| Q1 26 | — | — | ||
| Q4 25 | $-4.3M | $34.5M | ||
| Q3 25 | $524.0K | $61.7M | ||
| Q2 25 | $-4.2M | $-7.8M | ||
| Q1 25 | $26.1M | $17.3M | ||
| Q4 24 | $-2.5M | $-8.6M | ||
| Q3 24 | $-223.0K | $54.9M | ||
| Q2 24 | $-3.7M | $25.9M |
自由现金流率FORRWING
| Q1 26 | — | — | ||
| Q4 25 | -4.2% | 19.6% | ||
| Q3 25 | 0.6% | 35.1% | ||
| Q2 25 | -3.8% | -4.5% | ||
| Q1 25 | 29.0% | 10.1% | ||
| Q4 24 | -2.3% | -5.3% | ||
| Q3 24 | -0.2% | 33.8% | ||
| Q2 24 | -3.1% | 16.6% |
资本支出强度FORRWING
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 13.0% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 0.5% | 8.2% | ||
| Q1 25 | 0.7% | 4.7% | ||
| Q4 24 | 0.6% | 10.1% | ||
| Q3 24 | 0.5% | 8.7% | ||
| Q2 24 | 0.7% | 6.6% |
现金转化率FORRWING
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | -0.93× | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | -4.24× | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | -0.46× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
