vs
弗雷斯特研究公司（FORR）与Xperi Inc.（XPER）财务数据对比。点击上方公司名可切换其他公司
Xperi Inc.的季度营收约是弗雷斯特研究公司的1.2倍（$116.5M vs $101.1M），Xperi Inc.净利率更高（-14.7% vs -33.5%，领先18.9%），Xperi Inc.同比增速更快（-4.8% vs -6.5%），Xperi Inc.自由现金流更多（$1.2M vs $-4.3M），过去两年弗雷斯特研究公司的营收复合增速更高（0.5% vs -1.0%）
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。
Xperi是一家美国跨国科技企业，总部位于加利福尼亚州圣何塞，专注研发消费电子与联网车载软件，以及宽带视频服务媒体平台，业务分为付费电视、消费电子、联网汽车与媒体平台四大板块，旗下拥有DTS、HD Radio、TiVo等知名品牌。
FORR vs XPER — 直观对比
营收规模更大
XPER
是对方的1.2倍
$101.1M
营收增速更快
XPER
高出1.7%
-6.5%
净利率更高
XPER
高出18.9%
-33.5%
自由现金流更多
XPER
多$5.4M
$-4.3M
两年增速更快
FORR
近两年复合增速
-1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.1M | $116.5M |
| 净利润 | $-33.9M | $-17.1M |
| 毛利率 | 56.7% | — |
| 营业利润率 | -36.6% | -12.7% |
| 净利率 | -33.5% | -14.7% |
| 营收同比 | -6.5% | -4.8% |
| 净利润同比 | -7941.4% | -137.0% |
| 每股收益（稀释后） | $-1.75 | $-0.37 |
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FORRXPER
| Q4 25 | $101.1M | $116.5M | ||
| Q3 25 | $94.3M | $111.6M | ||
| Q2 25 | $111.7M | $105.9M | ||
| Q1 25 | $89.9M | $114.0M | ||
| Q4 24 | $108.0M | $122.4M | ||
| Q3 24 | $102.5M | $132.9M | ||
| Q2 24 | $121.8M | $119.6M | ||
| Q1 24 | $100.1M | $118.8M |
净利润FORRXPER
| Q4 25 | $-33.9M | $-17.1M | ||
| Q3 25 | $-2.1M | $-6.1M | ||
| Q2 25 | $3.9M | $-14.8M | ||
| Q1 25 | $-87.3M | $-18.4M | ||
| Q4 24 | $432.0K | $46.2M | ||
| Q3 24 | $-5.8M | $-16.8M | ||
| Q2 24 | $6.3M | $-30.3M | ||
| Q1 24 | $-6.7M | $-13.1M |
毛利率FORRXPER
| 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% | — | ||
| Q1 24 | 54.9% | — |
营业利润率FORRXPER
| Q4 25 | -36.6% | -12.7% | ||
| Q3 25 | 4.7% | -1.2% | ||
| Q2 25 | 6.2% | -10.5% | ||
| Q1 25 | -97.5% | -14.4% | ||
| Q4 24 | -0.5% | -11.7% | ||
| Q3 24 | -0.7% | -14.0% | ||
| Q2 24 | 9.3% | -18.3% | ||
| Q1 24 | -9.3% | -27.2% |
净利率FORRXPER
| Q4 25 | -33.5% | -14.7% | ||
| Q3 25 | -2.3% | -5.5% | ||
| Q2 25 | 3.5% | -14.0% | ||
| Q1 25 | -97.1% | -16.1% | ||
| Q4 24 | 0.4% | 37.8% | ||
| Q3 24 | -5.7% | -12.6% | ||
| Q2 24 | 5.2% | -25.3% | ||
| Q1 24 | -6.7% | -11.0% |
每股收益（稀释后）FORRXPER
| Q4 25 | $-1.75 | $-0.37 | ||
| Q3 25 | $-0.11 | $-0.13 | ||
| Q2 25 | $0.20 | $-0.32 | ||
| Q1 25 | $-4.62 | $-0.41 | ||
| Q4 24 | $0.02 | $1.02 | ||
| Q3 24 | $-0.30 | $-0.37 | ||
| Q2 24 | $0.33 | $-0.67 | ||
| Q1 24 | $-0.35 | $-0.29 |
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 | $96.8M |
| 总债务越低越好 | — | $27.7M |
| 股东权益账面价值 | $126.5M | $414.1M |
| 总资产 | $404.0M | $615.8M |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资FORRXPER
| Q4 25 | $63.3M | $96.8M | ||
| Q3 25 | $65.1M | $96.8M | ||
| Q2 25 | $67.8M | $95.1M | ||
| Q1 25 | $75.6M | $88.0M | ||
| Q4 24 | $56.1M | $130.6M | ||
| Q3 24 | $62.8M | $72.7M | ||
| Q2 24 | $58.9M | $92.5M | ||
| Q1 24 | $61.4M | $95.2M |
总债务FORRXPER
| Q4 25 | — | $27.7M | ||
| Q3 25 | — | $27.7M | ||
| Q2 25 | — | $27.7M | ||
| Q1 25 | — | $27.7M | ||
| Q4 24 | — | $27.7M | ||
| Q3 24 | — | $27.7M | ||
| Q2 24 | — | $27.7M | ||
| Q1 24 | — | $27.7M |
股东权益FORRXPER
| Q4 25 | $126.5M | $414.1M | ||
| Q3 25 | $157.7M | $421.0M | ||
| Q2 25 | $159.5M | $419.8M | ||
| Q1 25 | $147.4M | $418.9M | ||
| Q4 24 | $229.5M | $429.1M | ||
| Q3 24 | $234.3M | $377.4M | ||
| Q2 24 | $237.1M | $388.7M | ||
| Q1 24 | $230.9M | $399.1M |
总资产FORRXPER
| Q4 25 | $404.0M | $615.8M | ||
| Q3 25 | $414.2M | $628.8M | ||
| Q2 25 | $436.0M | $629.2M | ||
| Q1 25 | $439.8M | $633.5M | ||
| Q4 24 | $503.9M | $667.8M | ||
| Q3 24 | $505.3M | $616.2M | ||
| Q2 24 | $524.2M | $619.2M | ||
| Q1 24 | $555.7M | $630.4M |
负债/权益比FORRXPER
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.07× |
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 | $4.1M |
| 自由现金流经营现金流 - 资本支出 | $-4.3M | $1.2M |
| 自由现金流率自由现金流/营收 | -4.2% | 1.0% |
| 资本支出强度资本支出/营收 | 1.1% | 2.5% |
| 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 | $-5.9M |
8季度趋势，按日历期对齐
经营现金流FORRXPER
| Q4 25 | $-3.2M | $4.1M | ||
| Q3 25 | $1.2M | $7.5M | ||
| Q2 25 | $-3.6M | $10.1M | ||
| Q1 25 | $26.7M | $-22.3M | ||
| Q4 24 | $-1.8M | $1.2M | ||
| Q3 24 | $264.0K | $-4.6M | ||
| Q2 24 | $-2.9M | $-2.1M | ||
| Q1 24 | $611.0K | $-49.8M |
自由现金流FORRXPER
| Q4 25 | $-4.3M | $1.2M | ||
| Q3 25 | $524.0K | $6.7M | ||
| Q2 25 | $-4.2M | $9.5M | ||
| Q1 25 | $26.1M | $-23.3M | ||
| Q4 24 | $-2.5M | $-510.0K | ||
| Q3 24 | $-223.0K | $-5.6M | ||
| Q2 24 | $-3.7M | $-2.6M | ||
| Q1 24 | $-815.0K | $-51.6M |
自由现金流率FORRXPER
| Q4 25 | -4.2% | 1.0% | ||
| Q3 25 | 0.6% | 6.0% | ||
| Q2 25 | -3.8% | 9.0% | ||
| Q1 25 | 29.0% | -20.5% | ||
| Q4 24 | -2.3% | -0.4% | ||
| Q3 24 | -0.2% | -4.2% | ||
| Q2 24 | -3.1% | -2.2% | ||
| Q1 24 | -0.8% | -43.4% |
资本支出强度FORRXPER
| Q4 25 | 1.1% | 2.5% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 0.7% | 0.9% | ||
| Q4 24 | 0.6% | 1.4% | ||
| Q3 24 | 0.5% | 0.8% | ||
| Q2 24 | 0.7% | 0.4% | ||
| Q1 24 | 1.4% | 1.6% |
现金转化率FORRXPER
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.93× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4.24× | 0.03× | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | — | — |
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% |
XPER
| Pay TV | $56.2M | 48% |
| Connected Car | $31.3M | 27% |
| Consumer Electronics | $17.2M | 15% |
| Media Platform | $11.8M | 10% |
