Forrester Research, Inc. (FORR) AI Stock Analysis

Forrester Research, Inc. operates as an independent provider of research and advisory services for business and technology leaders globally. The company divides its operations into three main segments: Research, Consulting, and Events. Its Research segment provides subscription portfolios such as Forrester Research, SiriusDecisions Research, and Forrester Decisions, delivering market forecasts, consumer behavior data, and vendor landscapes. The Consulting segment provides customized advisory projects, including maturity assessments, strategy development, technology vendor selection, and customer experience enhancements. The Events segment hosts virtual and in-person gatherings covering marketing, sales, customer experience, security, and data strategies.

Forrester's annual revenue declined from $537.8M in FY2022 to $480.8M in FY2023, $432.5M in FY2024, and $396.9M in FY2025, falling 8.2% in FY2025. Operating margin contracted from 7.8% in FY2021 to 0.5% in FY2025, and net income dropped to -$119.4M in FY2025. Over the trailing twelve months, revenue totaled $381.0M with an operating margin of 5.5% and a net profit margin of -11.2%. For the latest quarter ended June 30, 2026, quarterly revenue fell 10.2% year-over-year, while quarterly earnings grew 290.0%.

As of June 30, 2026, Forrester held $130.8M in cash and short-term investments alongside $64.0M in total debt, resulting in a net cash position of $66.8M. The company reported a current ratio of 1.06, a debt-to-equity ratio of 0.53, and total shareholders' equity of $121.6M. In FY2025, operating cash flow reached $21.1M and free cash flow was $18.1M. Capital allocation in FY2025 included $3.0M in capital expenditures and $2.5M in share buybacks.

Trading at $11.75, Forrester has a market cap of $223.7M and an enterprise value of $157.6M. Its forward P/E ratio is 18.6x, compared to 17.2x for the median of its US-listed Industrials peers. The company's enterprise value-to-revenue multiple of 0.4x and EV/EBITDA of 7.6x both trade below peer medians of 1.5x and 13.9x, respectively. Forrester's 1-year return of 36.3% outpaced the S&P 500's 16.8%, though its 5-year return of -77.1% trailed the index's 83.0% gain.

Wall Street coverage includes 1 Hold rating, with 0 Buy and 0 Sell ratings. The mean price target is $12.00, reflecting a 2.1% premium over the last close of $11.75. For the fiscal year ending December 31, 2026, analysts estimate revenue of $355.2M and EPS of $0.78, representing an EPS drop of 33.2%. For the following fiscal year, two analysts project EPS to grow 16.8% to $0.91 on revenue of $357.7M. Forrester has beaten EPS estimates in 2 of the last 4 quarters, with its next earnings date set for October 29, 2026.

This page is an AI-written research summary of Forrester Research, Inc. (FORR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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