(FORR) Forrester Research - Overview
Stock: Research, Consulting, Events
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 53.5% |
| Relative Tail Risk | -1.92% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.17 |
| Alpha | -59.84 |
| Character TTM | |
|---|---|
| Beta | 0.415 |
| Beta Downside | 0.177 |
| Drawdowns 3y | |
|---|---|
| Max DD | 81.60% |
| CAGR/Max DD | -0.48 |
Description: FORR Forrester Research January 02, 2026
Forrester Research, Inc. (NASDAQ: FORR) is an independent research and advisory firm operating globally across the United States, Europe, the United Kingdom, Canada, and the Asia-Pacific region. The company is organized into three revenue streams-Research, Consulting, and Events. The Research segment sells subscription-based insights such as Forrester Decisions, delivering trend forecasts, buyer analytics, benchmarking data, and vendor evaluations. Consulting offers paid engagements that include maturity assessments, strategy development, technology selection, and go-to-market content creation. The Events arm monetizes conferences and workshops focused on B2B marketing, sales, CX, security, and emerging technologies, all sold through a direct sales force.
Key performance indicators that typically drive Forrester’s valuation include a subscription renewal rate of roughly 85 % and a year-over-year revenue growth of 4-6 % in the Research segment, reflecting steady demand for enterprise-level insight. Operating margins have historically hovered near 15 %, but pressure from rising personnel costs and competitive pricing in the advisory market can compress profitability. Macro-level, corporate spending on digital transformation and subscription-based analytics services is expanding at an estimated 7 % CAGR, providing a tailwind for Forrester’s core offerings.
For analysts seeking a deeper, data-driven view of Forrester’s market positioning, a quick look at ValueRay’s independent valuation metrics can help surface hidden upside or downside risks.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: -85.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 3.71 > 1.0 |
| NWC/Revenue: 2.86% < 20% (prev -0.93%; Δ 3.79% < -1%) |
| CFO/TA 0.11 > 3% & CFO 45.6m > Net Income -85.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (19.1m) vs 12m ago 0.25% < -2% |
| Gross Margin: 65.87% > 18% (prev 0.56%; Δ 6531 % > 0.5%) |
| Asset Turnover: 87.85% > 50% (prev 87.58%; Δ 0.27% > 0%) |
| Interest Coverage Ratio: -28.89 > 6 (EBITDA TTM -59.5m / Interest Expense TTM 2.74m) |
Altman Z'' 0.06
| A: 0.03 (Total Current Assets 193.6m - Total Current Liabilities 182.1m) / Total Assets 414.2m |
| B: 0.21 (Retained Earnings 86.4m / Total Assets 414.2m) |
| C: -0.17 (EBIT TTM -79.2m / Avg Total Assets 459.7m) |
| D: 0.34 (Book Value of Equity 86.7m / Total Liabilities 256.5m) |
| Altman-Z'' Score: 0.06 = B |
Beneish M -3.71
| DSRI: 0.94 (Receivables 33.6m/39.2m, Revenue 403.9m/442.5m) |
| GMI: 0.85 (GM 65.87% / 55.94%) |
| AQI: 0.81 (AQ_t 0.43 / AQ_t-1 0.53) |
| SGI: 0.91 (Revenue 403.9m / 442.5m) |
| TATA: -0.32 (NI -85.1m - CFO 45.6m) / TA 414.2m) |
| Beneish M-Score: -3.71 (Cap -4..+1) = AAA |
What is the price of FORR shares?
Over the past week, the price has changed by -10.36%, over one month by -10.80%, over three months by -3.32% and over the past year by -50.64%.
Is FORR a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the FORR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 12 | 65.1% |
| Analysts Target Price | 12 | 65.1% |
| ValueRay Target Price | 4.6 | -36.9% |
FORR Fundamental Data Overview February 03, 2026
P/S = 0.3832
P/B = 0.9783
P/EG = 0.8117
Revenue TTM = 403.9m USD
EBIT TTM = -79.2m USD
EBITDA TTM = -59.5m USD
Long Term Debt = 35.0m USD (from longTermDebt, last quarter)
Short Term Debt = 12.8m USD (from shortTermDebt, last fiscal year)
Debt = 72.6m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 16.5m USD (from netDebt column, last fiscal year)
Enterprise Value = 162.2m USD (154.8m + Debt 72.6m - CCE 65.1m)
Interest Coverage Ratio = -28.89 (Ebit TTM -79.2m / Interest Expense TTM 2.74m)
EV/FCF = 8.16x (Enterprise Value 162.2m / FCF TTM 19.9m)
FCF Yield = 12.26% (FCF TTM 19.9m / Enterprise Value 162.2m)
FCF Margin = 4.92% (FCF TTM 19.9m / Revenue TTM 403.9m)
Net Margin = -21.06% (Net Income TTM -85.1m / Revenue TTM 403.9m)
Gross Margin = 65.87% ((Revenue TTM 403.9m - Cost of Revenue TTM 137.8m) / Revenue TTM)
Gross Margin QoQ = 56.03% (prev 55.53%)
Tobins Q-Ratio = 0.39 (Enterprise Value 162.2m / Total Assets 414.2m)
Interest Expense / Debt = 0.94% (Interest Expense 684.0k / Debt 72.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -62.6m (EBIT -79.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.06 (Total Current Assets 193.6m / Total Current Liabilities 182.1m)
Debt / Equity = 0.46 (Debt 72.6m / totalStockholderEquity, last quarter 157.7m)
Debt / EBITDA = -0.28 (negative EBITDA) (Net Debt 16.5m / EBITDA -59.5m)
Debt / FCF = 0.83 (Net Debt 16.5m / FCF TTM 19.9m)
Total Stockholder Equity = 173.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.50% (Net Income -85.1m / Total Assets 414.2m)
RoE = -49.01% (Net Income TTM -85.1m / Total Stockholder Equity 173.5m)
RoCE = -37.98% (EBIT -79.2m / Capital Employed (Equity 173.5m + L.T.Debt 35.0m))
RoIC = -30.01% (negative operating profit) (NOPAT -62.6m / Invested Capital 208.5m)
WACC = 5.31% (E(154.8m)/V(227.3m) * Re(7.45%) + D(72.6m)/V(227.3m) * Rd(0.94%) * (1-Tc(0.21)))
Discount Rate = 7.45% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -0.33%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈14.1m ; Y1≈9.28m ; Y5≈4.23m
Fair Price DCF = 6.23 (EV 134.9m - Net Debt 16.5m = Equity 118.4m / Shares 19.0m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: -53.30 | EPS CAGR: -48.58% | SUE: -4.0 | # QB: 0
Revenue Correlation: -80.22 | Revenue CAGR: -8.90% | SUE: -4.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.14 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=2
EPS next Year (2026-12-31): EPS=1.33 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=+9.6% | Growth Revenue=-1.1%