FORRESTER RESEARCH, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 18.77 USD | +1.13% |
|
+0.11% | -29.99% |
| Apr. 03 | Forrester?s Generative AI Tool, Izola, Now Available To All Forrester Decisions Clients | CI |
| Mar. 18 | Forrester Research, Inc.(NasdaqGS:FORR) dropped from S&P 600 Industrials | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 776.5 | 794.6 | 1,126 | 681.3 | 515.8 | 365 | - |
| Enterprise Value (EV) 1 | 839.2 | 812.1 | 1,067 | 608 | 426.3 | 292.7 | 271.3 |
| P/E ratio | -80.2 x | 79.1 x | 45.9 x | 31.4 x | 168 x | 47.7 x | 26.1 x |
| Yield | - | - | - | - | - | - | - |
| Capitalization / Revenue | 1.68 x | 1.77 x | 2.28 x | 1.27 x | 1.07 x | 0.83 x | 0.8 x |
| EV / Revenue | 1.82 x | 1.81 x | 2.16 x | 1.13 x | 0.89 x | 0.67 x | 0.6 x |
| EV / EBITDA | 27.9 x | 17.8 x | 16.9 x | 9.44 x | 5.86 x | 5.64 x | 4.85 x |
| EV / FCF | 23 x | 20.9 x | 11.1 x | 18 x | 26.4 x | -15.2 x | 12.7 x |
| FCF Yield | 4.35% | 4.78% | 9.03% | 5.55% | 3.79% | -6.6% | 7.86% |
| Price to Book | - | - | - | - | - | - | - |
| Nbr of stocks (in thousands) | 18,622 | 18,964 | 19,171 | 19,052 | 19,239 | 19,444 | - |
| Reference price 2 | 41.70 | 41.90 | 58.73 | 35.76 | 26.81 | 18.77 | 18.77 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/9/23 | 2/8/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 461.7 | 449 | 494.3 | 537.8 | 480.8 | 437.8 | 455.1 |
| EBITDA 1 | 30.12 | 45.74 | 63.16 | 64.42 | 72.69 | 51.85 | 55.91 |
| EBIT 1 | -1.075 | 16.18 | 38.64 | 41.99 | 52.28 | 42.98 | 47.04 |
| Operating Margin | -0.23% | 3.6% | 7.82% | 7.81% | 10.87% | 9.82% | 10.34% |
| Earnings before Tax (EBT) 1 | -9.599 | 12.93 | 33.19 | 30.72 | 6.285 | 11.11 | 22.05 |
| Net income 1 | -9.57 | 9.99 | 24.84 | 21.81 | 3.05 | 7.582 | 13.89 |
| Net margin | -2.07% | 2.23% | 5.03% | 4.05% | 0.63% | 1.73% | 3.05% |
| EPS 2 | -0.5200 | 0.5300 | 1.280 | 1.140 | 0.1600 | 0.3933 | 0.7200 |
| Free Cash Flow 1 | 36.52 | 38.85 | 96.32 | 33.76 | 16.18 | -19.31 | 21.33 |
| FCF margin | 7.91% | 8.65% | 19.49% | 6.28% | 3.36% | -4.41% | 4.69% |
| FCF Conversion (EBITDA) | 121.25% | 84.94% | 152.5% | 52.41% | 22.26% | - | 38.15% |
| FCF Conversion (Net income) | - | 388.88% | 387.71% | 154.83% | 530.43% | - | 153.59% |
| Dividend per Share | - | - | - | - | - | - | - |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/9/23 | 2/8/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 118.1 | 133.7 | 125 | 148.2 | 127.7 | 136.9 | 113.7 | 135.6 | 113.4 | 118.1 | 104.2 | 122.8 | 101.8 | 109 | 104.8 |
| EBITDA 1 | 12.58 | 17.55 | 12.15 | 26.36 | 14.28 | 11.63 | 9.584 | 27.94 | 14.52 | 11.47 | 7.492 | 23.3 | 12.33 | 8.68 | - |
| EBIT 1 | 6.539 | 11.48 | 6.471 | 20.7 | 8.557 | 6.258 | 7.48 | 25.75 | 12.26 | 6.792 | 5.626 | 20.87 | 9.283 | 7.167 | 7.168 |
| Operating Margin | 5.54% | 8.59% | 5.18% | 13.97% | 6.7% | 4.57% | 6.58% | 18.99% | 10.81% | 5.75% | 5.4% | 17% | 9.12% | 6.57% | 6.84% |
| Earnings before Tax (EBT) 1 | 5.288 | 10.15 | 6.027 | 20.27 | 8.319 | -3.893 | -5.383 | 8.072 | 4.861 | -1.265 | -3.669 | 13.23 | 1.675 | -0.1245 | 1.317 |
| Net income 1 | 4.522 | 8.023 | 4.148 | 13.87 | 5.414 | -1.63 | -4.075 | 5.304 | 2.484 | -0.663 | -3.523 | 9.2 | 1.626 | 0.2793 | 0.856 |
| Net margin | 3.83% | 6% | 3.32% | 9.36% | 4.24% | -1.19% | -3.58% | 3.91% | 2.19% | -0.56% | -3.38% | 7.49% | 1.6% | 0.26% | 0.82% |
| EPS 2 | 0.2300 | 0.4100 | 0.2200 | 0.7200 | 0.2800 | -0.0900 | -0.2100 | 0.2800 | 0.1300 | -0.0300 | -0.1800 | 0.4767 | 0.0867 | 0.0167 | 0.0400 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/3/21 | 2/10/22 | 5/5/22 | 7/28/22 | 11/2/22 | 2/9/23 | 5/4/23 | 7/27/23 | 10/26/23 | 2/8/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 62.6 | 17.5 | - | - | - | - | - |
| Net Cash position 1 | - | - | 59.3 | 73.3 | 89.5 | 72.3 | 93.6 |
| Leverage (Debt/EBITDA) | 2.08 x | 0.3835 x | - | - | - | - | - |
| Free Cash Flow 1 | 36.5 | 38.8 | 96.3 | 33.8 | 16.2 | -19.3 | 21.3 |
| ROE (net income / shareholders' equity) | 20% | 17.7% | 12.8% | 10.2% | 1.32% | 4.3% | 4.8% |
| ROA (Net income/ Total Assets) | 6.24% | 4.73% | 3.75% | 3.38% | 0.52% | 2% | 2.4% |
| Assets 1 | -153.4 | 211.2 | 662.2 | 644.3 | 586.5 | 379.1 | 578.7 |
| Book Value Per Share | - | - | - | - | - | - | - |
| Cash Flow per Share | - | - | - | - | - | - | - |
| Capex 1 | 11.9 | 8.91 | 10.7 | 5.66 | 5.5 | 8 | 8 |
| Capex / Sales | 2.58% | 1.98% | 2.17% | 1.05% | 1.14% | 1.83% | 1.76% |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/9/23 | 2/8/24 | - | - |
1USD in Million
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
HOLD
Number of Analysts
2
Last Close Price
18.77
USD
Average target price
23
USD
Spread / Average Target
+22.54%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -29.99% | 365M | |
| -10.89% | 351M | |
| -7.51% | 177M | |
| +59.32% | 74.23M |
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- Financials Forrester Research, Inc.
