Forrester Research (FORR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Forrester Research

NasdaqGS•Industrials•Consulting Services

$12.65+0.17(0.01%)Market closed

Market Cap

$225.46M

P/S

0.6x

P/B

1.9x

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.

How this company scores

AverageMetricSide Score: 44/100

Strongest: Balance Sheet & Red Flags (16/25); weakest: Cash & Earnings Quality (3/25).

Profitability15/25

Growth10/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality3/25

Strengths

Low leverageProfit converts from growthNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 226.5x5y range 21.4x – 888.7x

Currently above its 12-quarter median.

P/S · 0.6x5y range 0.3x – 2.3x

Currently below its 20-quarter median.

P/B · 1.9x5y range 1.0x – 5.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $225.46M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $381.04M
Q. Revenue: $100.23M
TTM EBITDA: $-33.78M
TTM Op. Income: $-47.77M
Q. Op. Income: $3.40M
TTM Net Income: $-42.57M
Q. Net Income: $15.25M
EPS: $0.79
Shares Out.: $19.40M

$381.04M in TTM revenue declined 7.5% YoY, reaching $100.23M last quarter. TTM EBITDA of $-33.78M and TTM operating income of $-47.77M show growth is flowing through to the bottom line. However, net income is negative at $42.57M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 7 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 56.4%
EBITDA Margin: 6.7%
Op. Margin: 3.4%
Net Margin: 15.2%

Op. margin of 3.4% is down 2.8% YoY — costs are rising relative to revenue. Net margin at 15.2% and gross margin of 56.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.6x
P/B Ratio: 1.9x

P/S of 0.6x and P/B of 1.9x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $416.51M
Cash: $59.52M
Long-Term Debt: $35.00M
Book Value: $121.64M
D/E Ratio: 0.3
Debt/EBITDA: 5.2

With $416.51M in assets and $35.00M in long-term debt, D/E is 0.3and book value is $121.64M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 21% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-555,000
TTM Free Cash Flow: $3.03M
FCF Margin: 0.8%
FCF / Net Income: -0.1

TTM FCF of $3.03M on $-555,000 in operating cash flow. The FCF / Net Income ratio of -0.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.