FORRESTER RESEARCH, INC.
FORR· Nasdaq· Services-Engineering, Accounting, Research, Management
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 4.6%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- -2.4%
We record prices for the companies we cover; FORR is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 19.0M
- Revenue
- $396.9M
- Free cash flow
- $18.1M
- Owner earnings
- $5.8M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- -28.5%
- Net
- -30.1%
- Free cash flow
- 4.6%
- Owner earnings
- 1.5%
- Stock pay
- 3.1%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -94.3%
- ROE, 5 yr avg
- -14.7%
Growth (CAGR)
- Revenue, 3 yr
- -9.6%
- Revenue, 5 yr
- -2.4%
- Revenue, 9 yr
- 2.2%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- -18.8%
- Free cash flow, 5 yr
- -14.2%
- Free cash flow, 9 yr
- -8.5%
Financial health · FY2025
- Cash and investments
- $63.3M
- Total debt
- $35.0M
- Net cash
- $28.3M
- Debt/Equity
- 0.3x
- Debt/FCF
- 1.9x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 0.1%
Financials: ten years from the 10-Ks
Revenue
$396.9M
+2.2% a year over 9 years
FY2016FY2025
Margins
Gross–Operating-28.5%Net-30.1%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$18.1MOwner earnings$5.8M
Free cash flow -8.5% a year
FY2016FY2025
Diluted shares
19.0M
+4.1% over 9 years, net dilution
FY2016FY2025
Return on invested capital
–
FY2025
FY2016FY2025
Net cash
$28.3M
$28.3M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $326.1M | $337.7M | $357.6M | $461.7M | $449.0M | $494.3M | $537.8M | $480.8M | $432.5M | $396.9M |
| Revenue growth | – | 3.6% | 5.9% | 29.1% | -2.8% | 10.1% | 8.8% | -10.6% | -10.0% | -8.2% |
| Gross margin | 65.6% | 64.8% | 64.1% | 60.5% | – | – | – | – | – | – |
| Operating margin | 9.4% | 8.2% | 6.3% | 0.2% | -3.6% | 7.8% | 6.1% | 1.4% | 0.2% | -28.5% |
| Net income | $17.7M | $15.1M | $15.4M | -$9.6M | $10.0M | $24.8M | $21.8M | $3.0M | -$5.7M | -$119.4M |
| Net margin | 5.4% | 4.5% | 4.3% | -2.1% | 2.2% | 5.0% | 4.1% | 0.6% | -1.3% | -30.1% |
| Diluted EPS | $0.97 | $0.83 | $0.84 | $0.52 | $0.53 | $1.28 | $1.14 | $0.16 | $-0.30 | $-6.28 |
| Return on invested capital? | – | – | – | – | -6.1% | 17.7% | 13.8% | 1.6% | – | – |
| Cash | ||||||||||
| Operating cash flow | $44.5M | $37.5M | $38.4M | $48.4M | $47.8M | $107.1M | $39.4M | $21.7M | -$3.9M | $21.1M |
| Capital expenditure | $4.1M | $7.9M | $5.0M | $11.9M | $8.9M | $10.7M | $5.7M | $5.5M | $3.4M | $3.0M |
| Free cash flow | $40.3M | $29.6M | $33.4M | $36.5M | $38.8M | $96.3M | $33.8M | $16.2M | -$7.3M | $18.1M |
| Stock-based compensation | $8.0M | $8.5M | $8.3M | $11.7M | $10.9M | $10.1M | $14.5M | $15.5M | $14.3M | $12.3M |
| Owner earnings? | $32.4M | $21.1M | $25.1M | $24.8M | $28.0M | $86.3M | $19.2M | $692.0K | -$21.6M | $5.8M |
| Free cash flow per share | $2.21 | $1.62 | $1.82 | $1.97 | $2.05 | $4.98 | $1.76 | $0.84 | $-0.38 | $0.95 |
| Capital allocation | ||||||||||
| Dividends paid | $13.0M | $13.6M | $14.5M | – | – | – | – | – | – | – |
| Share repurchases | $1.8M | $40.0M | $9.9M | $0 | $0 | $20.1M | $15.1M | $4.1M | $15.9M | $2.5M |
| Diluted shares | 18.3M | 18.2M | 18.4M | 18.5M | 18.9M | 19.4M | 19.2M | 19.3M | 19.1M | 19.0M |
| Share count change? | 0.7% | -0.2% | 0.8% | 0.6% | 2.4% | 2.2% | -1.0% | 0.4% | -0.9% | -0.4% |
| Balance sheet | ||||||||||
| Cash and equivalents | $77.0M | $79.8M | $140.3M | $67.9M | $90.3M | $115.8M | $103.6M | $72.9M | $56.1M | $63.3M |
| Short-term investments | $61.1M | $54.3M | – | – | – | – | – | – | – | – |
| Total debt | – | – | – | $130.5M | $107.8M | $75.0M | $50.0M | $35.0M | $35.0M | $35.0M |
| Net debt | – | – | – | $62.6M | $17.5M | -$40.8M | -$53.6M | -$37.9M | -$21.1M | -$28.3M |
| Shareholders' equity | $150.0M | $141.2M | $151.6M | $158.1M | $185.8M | $203.9M | $221.7M | $240.3M | $229.5M | $126.5M |
Latest filings
| 2026-10-29 | 8-K | Earnings release |
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-07-30 | 8-K | Earnings release |
| 2026-05-08 | 10-Q | Quarterly report |
| 2026-05-06 | 8-K | Earnings release |
| 2026-03-31 | DEF 14A | Proxy statement |
| 2026-03-13 | 10-K | Annual report |
| 2026-02-12 | 8-K | Earnings release |
| 2025-11-10 | 10-Q | Quarterly report |
| 2025-10-30 | 8-K | Earnings release |
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