Forrester Research, Inc. FORR R2K

Industrials · Consulting Services · United States

https://www.forrester.com

Forrester Research, Inc. operates as an independent research and advisory company in the United States, Europe, the United Kingdom, Canada, Asia Pacific, and internationally. It operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions which are designed to provide business and technology leaders with a proven path to growth through customer obsession. This segment delivers content, such as future trends, predictions, and market forecasts; deep consumer and business buyer data and insights; curated best practice models and tools to run business functions; operational and performance benchmarking data; and technology and service market landscapes and vendor evaluations. Its Consulting segment provides consulting projects, content marketing, and advisory services. The Events segment hosts events related to business-to-business marketing, sales and product leadership, customer experience, security and risk, and new technology and innovation. It sells its products and services through direct sales force. Forrester Research, Inc. was incorporated in 1983 and is headquartered in Cambridge, Massachusetts.

Market & Price

Market Cap

$136.85M

Current Price

$7.05

High / Low (52W)

$11.23 / $5.05

Beta

0.99

Valuation

Stock P/E

Industry PE

28.38

Forward P/E

7.79

PEG Ratio

0.80

Book Value

$5.53

Price to Book

1.27

P/S

0.35

EV/EBITDA

3.10

Dividend Yield

Profitability & Returns

ROCE

-71.19%

ROE

-42.54%

ROA

0.85%

Profit Margin

-13.74%

Op Margin

-6.65%

EPS (Latest Qtr)

$-1.14

EPS (TTM)

$-2.80

Balance Sheet & Liquidity

Debt/Equity

0.59

Quick Ratio

0.79

Current Ratio

0.92

Debt

$62.34M

Total Assets

$404.03M

Current Assets

$212.69M

Working Capital

$-27.38M

Ownership

Promoter Holding

39.77%

Chg in Prom Hold

FII / Inst Holding

62.31%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$53.12M

Total Revenue (TTM)

$392.47M

EBITDA

$17.16M

Free Cash Flow

$59.11M

Operating Cash Flow

$19.94M

Shares Outstanding

19.41M

Gross Margin

56.75%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-9.63%

Profit 5Y

-215.79%

Revenue (YoY)

-4.90%

Earnings (YoY)

PROS

Generates positive free cash flow.

CONS

Revenue declined at -9.6% CAGR over 5 years.
Earnings shrank at -215.8% CAGR over 5 years.
Trading 37.2% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	FORR Forrester Research, Inc. R2K	7.05	-	$136.85M	-	-71.19%	-42.54%	-9.63%	-215.79%
2	CAT Caterpillar Inc. SPX	875.87	43.66	$403.42B	0.69%	19.42%	51.33%	4.38%	9.83%
3	GE GE Aerospace SPX	323.76	40.17	$338.27B	0.58%	11.89%	45.43%	16.32%	195.89%
4	GEV GE Vernova Inc. SPXAI	968.32	28.33	$260.21B	0.21%	6.30%	75.71%	8.68%	92.84%
5	RTX RTX Corporation SPX	179.66	33.64	$241.95B	1.54%	9.41%	11.57%	9.72%	9.01%
6	UNP Union Pacific Corporation SPX	262.64	21.60	$155.93B	2.10%	16.19%	40.69%	-0.49%	0.66%
7	ETN Eaton Corporation plc SPXAI	400.60	39.20	$155.55B	1.10%	16.23%	20.84%	9.77%	18.41%
8	HON Honeywell International Inc. NDXSPX	237.86	38.00	$150.72B	2.00%	13.57%	24.26%	1.82%	-1.62%
9	DE Deere & Company SPX	542.18	30.67	$146.45B	1.20%	12.82%	18.35%	-4.50%	-11.00%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	77.19M	89.73M	80.37M	90.38M	77.75M	96.35M	84.89M	98.58M	100.65M	128.18M	108.60M	124.27M	106.34M	113.54M	108.58M	113.78M	128.67M	118.14M	124.97M	148.25M	127.68M	113.67M	135.59M	113.43M	100.08M	121.83M	-	-	89.88M	111.66M	94.30M	101.06M	85.45M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.60M	49.65M	37.71M	43.75M	38.63M
Gross Profit	51.70M	47.31M	-	50.21M	57.20M	51.44M	-	49.97M	56.93M	52.21M	-	48.28M	61.99M	53.98M	-	59.03M	75.51M	68.03M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50.27M	62.01M	56.58M	57.31M	46.82M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53.37M	54.56M	58.64M	57.65M	52.51M
Operating Income	10.09M	5.34M	4.11M	2.71M	11.47M	7.55M	9.04M	3.14M	10.21M	6.75M	7.45M	-2.29M	11.03M	4.94M	8.74M	-10.88M	4.62M	-1.64M	6.83M	721.00K	11.23M	174.00K	7.54M	13.08M	6.54M	6.47M	20.70M	8.56M	-5.14M	8.29M	5.06M	-9.29M	11.31M	-	-	-3.10M	7.45M	-2.05M	-346.00K	-5.68M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-81.53M	11.67M	8.16M	-31.17M	-12.83M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	667.00K	675.00K	684.00K	654.00K	804.00K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-88.30M	7.12M	-1.69M	-36.53M	-18.72M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.03M	3.20M	437.00K	-2.66M	3.10M
Net Income	5.75M	4.45M	2.02M	1.29M	7.46M	3.11M	5.79M	3.03M	6.06M	3.95M	2.09M	-1.73M	7.79M	3.95M	5.38M	-13.32M	1.55M	-2.70M	4.89M	-513.00K	11.84M	-3.76M	3.96M	8.34M	4.52M	4.15M	13.87M	5.41M	-4.08M	5.30M	2.48M	-6.67M	6.29M	-	-	-87.27M	3.91M	-2.13M	-33.88M	-21.82M
Diluted EPS	0.31	0.25	0.11	0.07	0.41	0.17	0.31	0.16	0.34	0.22	0.11	-0.10	0.43	0.21	0.29	-0.73	0.08	-0.15	0.26	-0.03	0.63	-0.20	0.21	0.43	0.23	0.22	0.72	0.28	-0.21	0.28	0.13	-0.35	0.33	-	-	-4.62	0.20	-0.11	-1.78	-1.14

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	326.10M	337.67M	357.57M	461.70M	448.98M	-	537.79M	480.78M	432.47M	396.89M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	223.77M	204.48M	182.53M	170.72M
Gross Profit	-	-	-	186.01M	186.88M	192.05M	203.54M	213.93M	218.96M	229.21M	279.11M	-	-	314.01M	276.30M	249.94M	226.17M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	272.02M	256.26M	235.65M	224.22M
Operating Income	32.42M	30.75M	36.72M	30.76M	21.83M	18.21M	18.83M	30.77M	27.55M	22.43M	1.07M	-16.18M	-	41.99M	20.04M	14.29M	1.95M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	70.13M	41.41M	35.83M	-95.28M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	2.46M	3.06M	3.01M	2.68M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	30.72M	6.29M	2.64M	-119.41M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	8.92M	3.23M	8.38M	-49.00K
Net Income	18.87M	20.51M	21.99M	26.30M	13.02M	10.87M	12.00M	17.65M	15.14M	15.38M	-9.57M	9.99M	-	21.81M	3.05M	-5.75M	-119.36M
Diluted EPS	0.82	0.89	0.95	1.15	0.61	0.57	0.66	0.97	0.83	0.84	0.52	0.53	-	1.14	0.16	-0.30	-6.28

Compounded Sales Growth

5 Years:	-9.63%
1 Year:	-4.90%

Compounded Profit Growth

5 Years:	-215.79%
1 Year:	-

Stock Price Performance

1 Year:	-33.68%
6 Months:	-1.67%
3 Months:	+17.89%
1 Month:	+11.73%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	450.48M	487.58M	488.01M	402.20M	332.71M	318.99M	335.79M	345.20M	353.52M	639.16M	644.22M	-	608.44M	564.17M	503.86M	404.03M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	235.29M	216.00M	201.36M	212.69M
Cash & Equivalents	129.48M	97.81M	86.93M	81.05M	98.81M	74.13M	49.65M	53.33M	76.96M	79.79M	140.30M	67.90M	90.26M	-	103.63M	72.91M	56.09M	63.34M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	73.34M	59.00M	55.49M	50.85M
Total Liabilities	-	-	178.57M	196.84M	190.81M	197.54M	191.10M	191.69M	185.75M	204.01M	201.92M	481.07M	458.45M	-	386.78M	323.91M	274.32M	277.51M
Current Liabilities	-	-	171.65M	179.26M	181.34M	187.40M	181.70M	182.45M	177.47M	195.05M	189.99M	268.93M	269.75M	-	269.39M	240.08M	203.97M	240.06M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	121.17M	95.30M	75.00M	50.00M	35.00M	35.00M	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	114.38M	86.85M	72.57M	71.89M
Total Equity	303.50M	311.94M	272.34M	290.15M	297.21M	204.66M	141.60M	127.30M	150.04M	141.19M	151.60M	158.09M	185.77M	-	221.66M	240.26M	229.54M	126.53M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24.37M	24.68M	25.12M	25.54M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	43.10M	38.66M	55.44M	53.15M	30.71M	-	-	44.48M	37.49M	38.42M	48.41M	47.75M	-	39.42M	21.67M	-3.86M	21.08M
Investing Cash Flow	-59.54M	15.60M	-53.04M	-4.08M	57.56M	-	-	-17.86M	-970.00K	40.09M	249.54M	-4.57M	-	-6.81M	-36.76M	5.02M	-14.07M
Financing Cash Flow	-16.12M	-61.84M	-6.33M	-31.73M	-113.38M	-	-	-113.00K	-37.62M	-13.95M	129.44M	-23.69M	-	-38.87M	-18.30M	-16.10M	-2.57M
Capital Expenditure	-4.28M	-13.43M	-39.78M	-5.10M	-3.13M	-1.50M	-3.93M	-4.14M	-7.86M	-5.05M	-11.89M	-8.90M	-	-5.66M	-5.50M	-3.40M	-2.99M
Free Cash Flow	38.81M	25.23M	15.67M	48.04M	27.59M	-	-	40.34M	29.63M	33.37M	36.52M	38.85M	-	33.76M	16.18M	-7.26M	18.09M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-6.26M	-33.38M	-14.94M	4.45M
Share Buybacks	20.40M	21.34M	18.41M	29.84M	118.21M	73.17M	20.93M	1.79M	39.97M	9.95M	0	0	20.07M	15.11M	4.08M	15.92M	2.54M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	65.6%	64.8%	64.1%	60.5%	-	-	58.4%	57.5%	57.8%	57.0%
Operating Margin %	-	-	-	-	-	-	-	9.4%	8.2%	6.3%	0.2%	-3.6%	-	7.8%	4.2%	3.3%	0.5%
Net Margin %	-	-	-	-	-	-	-	5.4%	4.5%	4.3%	-2.1%	2.2%	-	4.1%	0.6%	-1.3%	-30.1%
ROE %	6.0%	7.5%	7.6%	8.8%	6.4%	7.7%	9.4%	11.8%	10.7%	10.1%	-6.1%	5.4%	-	9.8%	1.3%	-2.5%	-94.3%
ROCE %	-	11.0%	11.9%	10.0%	10.2%	12.1%	13.8%	19.4%	18.3%	13.7%	0.3%	-4.3%	-	12.4%	6.2%	4.8%	1.2%

Shareholding Pattern

Insiders

39.77%

Institutions

62.31%

Public Float

103.46%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Portolan Capital Management, LLC	7.94%	1.54M	$10.87M
2	Blackrock Inc.	4.67%	907.38K	$6.40M
3	First Manhattan Co. LLC	3.86%	750.00K	$5.29M
4	Pacific Ridge Capital Partners, LLC	3.66%	710.85K	$5.01M
5	Nantahala Capital Management, LLC	3.58%	694.42K	$4.90M
6	Tieton Capital Management, LLC	2.88%	559.04K	$3.94M
7	Vanguard Capital Management LLC	2.51%	486.92K	$3.43M
8	ArrowMark Colorado Holdings LLC	2.44%	472.95K	$3.33M
9	Renaissance Technologies, LLC	2.25%	436.71K	$3.08M
10	Acadian Asset Management. LLC	2.18%	423.34K	$2.98M

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