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Forge Global Holdings, Inc.（FRGE）与Rumble Inc.（RUM）财务数据对比。点击上方公司名可切换其他公司
Rumble Inc.的季度营收约是Forge Global Holdings, Inc.的1.3倍（$27.1M vs $21.3M），Forge Global Holdings, Inc.净利率更高（-85.7% vs -120.8%，领先35.1%），Forge Global Holdings, Inc.同比增速更快（10.6% vs -10.5%），Forge Global Holdings, Inc.自由现金流更多（$-11.4M vs $-31.7M），过去两年Rumble Inc.的营收复合增速更高（15.2% vs 5.6%）
该公司原本信息存在混淆，此处对应描述中的巴拉特锻造是一家印度跨国企业，业务涵盖锻造、汽车、能源、建筑采矿、铁路、船舶、航空航天和国防等多个领域，是印度工业领域颇具影响力的核心制造企业。
Rumble Inc.是一家加美跨国企业，主营在线视频平台、网络托管及云服务，总部位于加拿大多伦多，美国总部设在佛罗里达州朗博特基。公司由加拿大科技创业者克里斯·帕夫洛夫斯基于2013年创立，云服务板块为Truth Social提供托管支持，其视频平台在美国保守派及极右翼用户群体中广受欢迎，属于“另类科技”阵营。
FRGE vs RUM — 直观对比
营收规模更大
RUM
是对方的1.3倍
$21.3M
营收增速更快
FRGE
高出21.1%
-10.5%
净利率更高
FRGE
高出35.1%
-120.8%
自由现金流更多
FRGE
多$20.3M
$-31.7M
两年增速更快
RUM
近两年复合增速
5.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $21.3M | $27.1M |
| 净利润 | $-18.2M | $-32.7M |
| 毛利率 | 98.6% | 5.5% |
| 营业利润率 | -96.7% | -131.1% |
| 净利率 | -85.7% | -120.8% |
| 营收同比 | 10.6% | -10.5% |
| 净利润同比 | 0.6% | 86.2% |
| 每股收益（稀释后） | $-1.37 | $-0.13 |
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FRGERUM
| Q4 25 | — | $27.1M | ||
| Q3 25 | $21.3M | $24.8M | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $25.3M | $23.7M | ||
| Q4 24 | $18.6M | $30.2M | ||
| Q3 24 | $19.2M | $25.1M | ||
| Q2 24 | $22.3M | $22.5M | ||
| Q1 24 | $19.2M | $17.7M |
净利润FRGERUM
| Q4 25 | — | $-32.7M | ||
| Q3 25 | $-18.2M | $-16.3M | ||
| Q2 25 | $-12.6M | — | ||
| Q1 25 | $-16.2M | $-2.7M | ||
| Q4 24 | $-15.6M | $-236.8M | ||
| Q3 24 | $-18.3M | $-31.5M | ||
| Q2 24 | $-13.7M | $-26.8M | ||
| Q1 24 | $-18.6M | $-43.3M |
毛利率FRGERUM
| Q4 25 | — | 5.5% | ||
| Q3 25 | 98.6% | -1.8% | ||
| Q2 25 | 99.4% | — | ||
| Q1 25 | 99.2% | -26.7% | ||
| Q4 24 | 98.3% | -14.2% | ||
| Q3 24 | 99.6% | -45.4% | ||
| Q2 24 | 98.9% | -58.8% | ||
| Q1 24 | 99.8% | -79.5% |
营业利润率FRGERUM
| Q4 25 | — | -131.1% | ||
| Q3 25 | -96.7% | -113.6% | ||
| Q2 25 | -46.3% | — | ||
| Q1 25 | -65.1% | -153.5% | ||
| Q4 24 | -100.6% | -80.1% | ||
| Q3 24 | -108.8% | -131.0% | ||
| Q2 24 | -79.2% | -172.7% | ||
| Q1 24 | -130.0% | -197.4% |
净利率FRGERUM
| Q4 25 | — | -120.8% | ||
| Q3 25 | -85.7% | -65.7% | ||
| Q2 25 | -45.4% | — | ||
| Q1 25 | -63.9% | -11.2% | ||
| Q4 24 | -84.2% | -783.2% | ||
| Q3 24 | -95.5% | -125.9% | ||
| Q2 24 | -61.6% | -119.2% | ||
| Q1 24 | -96.8% | -244.1% |
每股收益（稀释后）FRGERUM
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $-1.37 | $-0.06 | ||
| Q2 25 | $-1.01 | — | ||
| Q1 25 | $-1.29 | $-0.01 | ||
| Q4 24 | $3.81 | $-1.17 | ||
| Q3 24 | $-1.49 | $-0.15 | ||
| Q2 24 | $-1.13 | $-0.13 | ||
| Q1 24 | $-1.55 | $-0.21 |
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 | $60.7M | $237.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $202.6M | $274.8M |
| 总资产 | $252.0M | $336.8M |
| 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FRGERUM
| Q4 25 | — | $237.9M | ||
| Q3 25 | $60.7M | $269.8M | ||
| Q2 25 | $80.7M | — | ||
| Q1 25 | $92.0M | $301.3M | ||
| Q4 24 | $105.1M | $114.0M | ||
| Q3 24 | $114.5M | $132.0M | ||
| Q2 24 | $120.5M | $154.2M | ||
| Q1 24 | $129.6M | $183.8M |
股东权益FRGERUM
| Q4 25 | — | $274.8M | ||
| Q3 25 | $202.6M | $302.2M | ||
| Q2 25 | $200.5M | — | ||
| Q1 25 | $213.5M | $339.6M | ||
| Q4 24 | $223.6M | $-63.1M | ||
| Q3 24 | $234.5M | $166.1M | ||
| Q2 24 | $245.4M | $192.7M | ||
| Q1 24 | $252.2M | $210.7M |
总资产FRGERUM
| Q4 25 | — | $336.8M | ||
| Q3 25 | $252.0M | $367.2M | ||
| Q2 25 | $242.8M | — | ||
| Q1 25 | $249.5M | $391.1M | ||
| Q4 24 | $263.5M | $195.3M | ||
| Q3 24 | $276.6M | $217.2M | ||
| Q2 24 | $285.7M | $243.2M | ||
| Q1 24 | $298.7M | $263.0M |
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 | $-11.4M | $-29.4M |
| 自由现金流经营现金流 - 资本支出 | $-11.4M | $-31.7M |
| 自由现金流率自由现金流/营收 | -53.6% | -117.2% |
| 资本支出强度资本支出/营收 | 0.2% | 8.5% |
| 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 | $-73.5M | $-70.8M |
8季度趋势，按日历期对齐
经营现金流FRGERUM
| Q4 25 | — | $-29.4M | ||
| Q3 25 | $-11.4M | $-10.6M | ||
| Q2 25 | $-7.8M | — | ||
| Q1 25 | $-12.8M | $-14.5M | ||
| Q4 24 | $-40.5M | $-12.4M | ||
| Q3 24 | $-5.8M | $-19.1M | ||
| Q2 24 | $-14.4M | $-21.7M | ||
| Q1 24 | $-12.4M | $-33.9M |
自由现金流FRGERUM
| Q4 25 | — | $-31.7M | ||
| Q3 25 | $-11.4M | $-12.0M | ||
| Q2 25 | $-7.9M | — | ||
| Q1 25 | $-12.9M | $-14.6M | ||
| Q4 24 | $-41.3M | $-12.4M | ||
| Q3 24 | $-6.0M | $-19.9M | ||
| Q2 24 | $-14.7M | $-23.1M | ||
| Q1 24 | $-12.8M | $-34.3M |
自由现金流率FRGERUM
| Q4 25 | — | -117.2% | ||
| Q3 25 | -53.6% | -48.6% | ||
| Q2 25 | -28.4% | — | ||
| Q1 25 | -50.9% | -61.7% | ||
| Q4 24 | -222.3% | -40.9% | ||
| Q3 24 | -31.0% | -79.5% | ||
| Q2 24 | -66.0% | -102.8% | ||
| Q1 24 | -66.4% | -193.3% |
资本支出强度FRGERUM
| Q4 25 | — | 8.5% | ||
| Q3 25 | 0.2% | 5.7% | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.2% | 0.6% | ||
| Q4 24 | 4.3% | 0.1% | ||
| Q3 24 | 0.7% | 3.4% | ||
| Q2 24 | 1.2% | 6.1% | ||
| Q1 24 | 2.1% | 2.4% |
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
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
RUM
| Audience Monetization | $23.8M | 88% |
| Other Initiatives | $3.3M | 12% |
