Loading...

We've got a brand new version of Simply Wall St! Try it out

Forrester Research

Nasdaq:FORR
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FORR
Nasdaq
$738M
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Forrester Research, Inc. operates as an independent research, data, and advisory services company in the United States and internationally. The last earnings update was 27 days ago. More info.


Add to Portfolio Compare Print
FORR Share Price and Events
7 Day Returns
-0.3%
NasdaqGS:FORR
-2%
US Professional Services
-1.4%
US Market
1 Year Returns
-8.2%
NasdaqGS:FORR
22.5%
US Professional Services
14.5%
US Market
FORR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Forrester Research (FORR) -0.3% 10.3% 17.7% -8.2% -4.1% -1.1%
US Professional Services -2% 3% -2.1% 22.5% 49% 71.5%
US Market -1.4% 1.3% 4.6% 14.5% 35.7% 48.6%
1 Year Return vs Industry and Market
  • FORR underperformed the Professional Services industry which returned 22.5% over the past year.
  • FORR underperformed the Market in United States of America which returned 14.5% over the past year.
Price Volatility
FORR
Industry
5yr Volatility vs Market

Value

 Is Forrester Research undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Forrester Research to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Forrester Research.

NasdaqGS:FORR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FORR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.827 (1 + (1- 21%) (28.74%))
1.01
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.01 * 5.44%)
7.23%

Discounted Cash Flow Calculation for NasdaqGS:FORR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Forrester Research is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:FORR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.23%)
2020 59.09 Analyst x2 55.11
2021 79.72 Analyst x1 69.33
2022 95.40 Est @ 19.67% 77.37
2023 109.04 Est @ 14.29% 82.46
2024 120.51 Est @ 10.53% 84.99
2025 130.02 Est @ 7.89% 85.51
2026 137.88 Est @ 6.05% 84.57
2027 144.44 Est @ 4.75% 82.61
2028 150.00 Est @ 3.85% 80.00
2029 154.82 Est @ 3.22% 77.01
Present value of next 10 years cash flows $778.00
NasdaqGS:FORR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $154.82 × (1 + 1.74%) ÷ (7.23% – 1.74%)
$2,867.39
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,867.39 ÷ (1 + 7.23%)10
$1,426.21
NasdaqGS:FORR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $778.00 + $1,426.21
$2,204.21
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,204.21 / 18.62
$118.37
NasdaqGS:FORR Discount to Share Price
Calculation Result
Value per share (USD) From above. $118.37
Current discount Discount to share price of $39.94
= -1 x ($39.94 - $118.37) / $118.37
66.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Forrester Research is available for.
Intrinsic value
>50%
Share price is $39.94 vs Future cash flow value of $118.37
Current Discount Checks
For Forrester Research to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Forrester Research's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Forrester Research's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Forrester Research's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Forrester Research's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FORR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $-0.49
NasdaqGS:FORR Share Price ** NasdaqGS (2019-12-05) in USD $39.94
United States of America Professional Services Industry PE Ratio Median Figure of 37 Publicly-Listed Professional Services Companies 19.52x
United States of America Market PE Ratio Median Figure of 2,924 Publicly-Listed Companies 18.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Forrester Research.

NasdaqGS:FORR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FORR Share Price ÷ EPS (both in USD)

= 39.94 ÷ -0.49

-80.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Forrester Research is loss making, we can't compare its value to the US Professional Services industry average.
  • Forrester Research is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Forrester Research's expected growth come at a high price?
Raw Data
NasdaqGS:FORR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -80.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
124.1%per year
United States of America Professional Services Industry PEG Ratio Median Figure of 31 Publicly-Listed Professional Services Companies 1.97x
United States of America Market PEG Ratio Median Figure of 2,045 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Forrester Research, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Forrester Research's assets?
Raw Data
NasdaqGS:FORR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $7.93
NasdaqGS:FORR Share Price * NasdaqGS (2019-12-05) in USD $39.94
United States of America Professional Services Industry PB Ratio Median Figure of 59 Publicly-Listed Professional Services Companies 2.65x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.77x
NasdaqGS:FORR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FORR Share Price ÷ Book Value per Share (both in USD)

= 39.94 ÷ 7.93

5.04x

* Primary Listing of Forrester Research.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Forrester Research is overvalued based on assets compared to the US Professional Services industry average.
X
Value checks
We assess Forrester Research's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check)
  5. Forrester Research has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Forrester Research expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
124.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Forrester Research expected to grow at an attractive rate?
  • Forrester Research's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Forrester Research's earnings growth is expected to exceed the United States of America market average.
  • Forrester Research's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FORR Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FORR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 124.1%
NasdaqGS:FORR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 10.5%
United States of America Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 32.5%
United States of America Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 6.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FORR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FORR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 561 90 20 1
2020-12-31 508 69 13 3
2019-12-31 461 56 -13 3
2019-12-05
NasdaqGS:FORR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 436 47 -9
2019-06-30 412 44 -2
2019-03-31 380 57 4
2018-12-31 358 38 15
2018-09-30 349 38 12
2018-06-30 345 39 12
2018-03-31 338 26 10
2017-12-31 338 37 15
2017-09-30 331 43 19
2017-06-30 328 40 18
2017-03-31 326 42 19
2016-12-31 326 44 18

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Forrester Research's earnings are expected to grow significantly at over 20% yearly.
  • Forrester Research's revenue is expected to grow by 10.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FORR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Forrester Research Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FORR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.06 1.06 1.06 1.00
2020-12-31 0.70 0.81 0.59 2.00
2019-12-31 -0.69 -0.67 -0.71 3.00
2019-12-05
NasdaqGS:FORR Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 -0.49
2019-06-30 -0.13
2019-03-31 0.21
2018-12-31 0.85
2018-09-30 0.67
2018-06-30 0.67
2018-03-31 0.58
2017-12-31 0.84
2017-09-30 1.05
2017-06-30 1.00
2017-03-31 1.07
2016-12-31 0.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Forrester Research is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Forrester Research's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Forrester Research has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Forrester Research performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Forrester Research's growth in the last year to its industry (Professional Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Forrester Research does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Forrester Research's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Forrester Research's 1-year growth to the US Professional Services industry average as it is not currently profitable.
Earnings and Revenue History
Forrester Research's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Forrester Research Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FORR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 436.01 -9.09 213.70
2019-06-30 412.31 -2.44 200.81
2019-03-31 380.48 3.80 187.22
2018-12-31 357.58 15.38 175.74
2018-09-30 349.37 12.10 174.44
2018-06-30 344.85 12.10 171.50
2018-03-31 338.23 10.38 168.78
2017-12-31 337.67 15.14 165.82
2017-09-30 330.74 18.84 160.66
2017-06-30 327.80 18.00 159.18
2017-03-31 325.89 19.39 157.89
2016-12-31 326.10 17.65 157.48
2016-09-30 323.62 13.88 158.84
2016-06-30 320.95 15.22 157.99
2016-03-31 315.94 13.51 156.11
2015-12-31 313.73 12.00 155.12
2015-09-30 313.43 13.58 152.92
2015-06-30 314.04 12.17 153.63
2015-03-31 314.18 10.71 154.32
2014-12-31 312.06 10.87 154.34
2014-09-30 308.90 9.43 154.07
2014-06-30 303.35 8.89 151.46
2014-03-31 299.36 10.79 148.22
2013-12-31 297.65 13.02 145.35
2013-09-30 295.29 15.74 142.26
2013-06-30 293.99 23.70 140.35
2013-03-31 294.13 25.28 140.06
2012-12-31 293.03 26.30 138.26

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Forrester Research has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Forrester Research has efficiently used its assets last year compared to the US Professional Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Forrester Research improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Forrester Research's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Forrester Research has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Forrester Research's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Forrester Research's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Forrester Research's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Forrester Research's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Forrester Research's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Forrester Research Company Filings, last reported 2 months ago.

NasdaqGS:FORR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 147.65 131.95 67.63
2019-06-30 149.69 139.35 69.76
2019-03-31 143.81 150.76 75.01
2018-12-31 151.60 0.00 140.30
2018-09-30 146.83 0.00 144.45
2018-06-30 140.11 0.00 143.09
2018-03-31 141.30 0.00 136.33
2017-12-31 141.19 0.00 134.12
2017-09-30 135.22 0.00 133.98
2017-06-30 127.37 0.00 125.24
2017-03-31 133.25 0.00 134.59
2016-12-31 150.04 0.00 138.11
2016-09-30 142.92 0.00 133.24
2016-06-30 136.70 0.00 126.53
2016-03-31 130.20 0.00 120.01
2015-12-31 127.30 0.00 101.11
2015-09-30 128.99 0.00 104.15
2015-06-30 131.98 0.00 110.84
2015-03-31 133.22 0.00 111.00
2014-12-31 141.60 0.00 104.54
2014-09-30 144.64 0.00 112.43
2014-06-30 153.92 0.00 133.66
2014-03-31 175.31 0.00 157.24
2013-12-31 204.66 0.00 155.15
2013-09-30 207.97 0.00 157.66
2013-06-30 217.72 0.00 178.63
2013-03-31 298.09 0.00 264.55
2012-12-31 297.21 0.00 233.69
  • Forrester Research's level of debt (89.4%) compared to net worth is high (greater than 40%).
  • Unable to establish if Forrester Research's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (35.3%, greater than 20% of total debt).
  • Forrester Research is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Forrester Research's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Forrester Research has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Forrester Research's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Forrester Research dividends.
If you bought $2,000 of Forrester Research shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Forrester Research's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Forrester Research's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FORR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 1.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1958 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FORR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
2019-12-05
NasdaqGS:FORR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-11-08 0.000 0.000
2019-10-24 0.000 0.000
2019-08-06 0.000 0.000
2019-07-31 0.000 0.000
2019-05-10 0.000 0.000
2019-04-30 0.000 0.000
2019-03-08 0.000 0.000
2019-02-13 0.000 0.000
2018-11-06 0.800 1.829
2018-10-24 0.800 2.011
2018-08-08 0.800 1.760
2018-07-27 0.800 1.749
2018-02-07 0.800 1.880
2017-11-07 0.760 1.695
2017-10-25 0.760 1.701
2017-08-08 0.760 1.844
2017-07-26 0.760 1.872
2017-05-09 0.760 1.923
2017-04-26 0.760 1.877
2017-03-10 0.760 1.935
2017-02-08 0.760 2.040
2016-11-08 0.720 1.745
2016-10-26 0.720 1.957
2016-08-09 0.720 1.820
2016-07-27 0.720 1.801
2016-05-10 0.720 1.943
2016-04-27 0.720 2.077
2016-03-11 0.720 2.152
2016-02-10 0.720 2.283
2015-07-29 0.680 2.198
2015-05-07 0.680 1.932
2015-04-29 0.680 1.975
2015-03-11 0.680 1.860
2015-02-11 0.680 1.792
2014-10-29 0.640 1.641
2014-07-30 0.640 1.663
2014-04-30 0.640 1.707
2014-02-12 0.640 1.773
2013-11-12 0.600 1.571
2013-10-23 0.600 1.568
2013-04-24 0.600 1.671
2013-02-13 0.600 1.949
2012-10-25 0.560 2.024
2012-07-25 0.560 1.897
2012-04-25 0.560 1.686
2012-02-09 0.560 1.718

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Forrester Research has not reported any payouts.
  • Unable to verify if Forrester Research's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Forrester Research's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Forrester Research has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Forrester Research's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Forrester Research afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Forrester Research has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Forrester Research's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Colony
COMPENSATION $850,895
AGE 65
TENURE AS CEO 36.4 years
CEO Bio

Mr. George F. Colony is Founder, Chairman, and Chief Executive Officer of Forrester Research, Inc since July 1983 and also serves as its President since September 2001. Mr. Colony is one of the most influential thought leaders in the world of business and technology. He has addressed international audiences in a number of prestigious settings including the World Economic Forum meetings in Davos, Switzerland and Dalian, China; the Fortune Brainstorm Tech conference; the SBS Seoul Digital Forum; the United Nations' "The Net World Order: Bridging the Global Digital Divide" conference; the ICT World Forum @CeBIT; Le Web; Cambridge University; The Commonwealth Club of California, and the Churchill Club. He has also lectured at the MIT Sloan School of Management. His analysis has been quoted in The Wall Street Journal, The Economist, The New York Times, BusinessWeek, the Financial Times, and numerous other media outlets.

CEO Compensation
  • George's compensation has increased whilst company is loss making.
  • George's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Forrester Research management team in years:

7.4
Average Tenure
50
Average Age
  • The average tenure for the Forrester Research management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

George Colony

TITLE
Founder
COMPENSATION
$851K
AGE
65
TENURE
36.4 yrs

Michael Doyle

TITLE
Chief Financial Officer
COMPENSATION
$952K
AGE
63
TENURE
12.3 yrs

Steve Peltzman

TITLE
Chief Business Technology Officer
COMPENSATION
$737K
AGE
50
TENURE
8.3 yrs

Kelley Hippler

TITLE
Chief Sales Officer
COMPENSATION
$959K
AGE
50
TENURE
2.4 yrs

Mack Brothers

TITLE
Chief Product Officer
COMPENSATION
$852K
AGE
54
TENURE
3.6 yrs

Scott Chouinard

TITLE
Chief Accounting Officer & Treasurer
AGE
50
TENURE
10.1 yrs

Mike Kasparian

TITLE
Chief Information Officer
TENURE
0.9 yrs

Russell Sweeney

TITLE
Investor Relations

Ryan Darrah

TITLE
Chief Legal Officer & Secretary
AGE
47
TENURE
2.8 yrs

Jon Symons

TITLE
Vice President of Corporate Communications & Employee Experience
TENURE
7.4 yrs
Board of Directors Tenure

Average tenure and age of the Forrester Research board of directors in years:

2.5
Average Tenure
61
Average Age
  • The average tenure for the Forrester Research board of directors is less than 3 years, this suggests a new board.
Board of Directors

George Colony

TITLE
Founder
COMPENSATION
$851K
AGE
65
TENURE
36.4 yrs

Robert Galford

TITLE
Lead Independent director
COMPENSATION
$168K
AGE
66

Jean Birch

TITLE
Independent Director
COMPENSATION
$187K
AGE
59
TENURE
1.8 yrs

Neil Bradford

TITLE
Independent Director
COMPENSATION
$181K
AGE
46
TENURE
1.8 yrs

Gretchen Teichgraeber

TITLE
Independent Director
COMPENSATION
$153K
AGE
65
TENURE
14 yrs

Dave Boyce

TITLE
Independent Director
COMPENSATION
$153K
AGE
51
TENURE
2.5 yrs

Tony Friscia

TITLE
Independent Director
COMPENSATION
$153K
AGE
63
TENURE
2.5 yrs

Yvonne Wassenaar

TITLE
Independent Director
COMPENSATION
$153K
AGE
50
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • Forrester Research individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
26. Nov 19 Sell Gretchen Teichgraeber Individual 26. Nov 19 26. Nov 19 -925 $39.40 $-36,389
21. Nov 19 Sell Carrie Fanlo Individual 19. Nov 19 19. Nov 19 -621 $35.75 $-22,201
21. Aug 19 Buy Neil Bradford Individual 20. Aug 19 20. Aug 19 3,040 $32.63 $99,182
18. Jun 19 Sell Gretchen Teichgraeber Individual 14. Jun 19 14. Jun 19 -1,000 $45.83 $-45,830
06. Mar 19 Sell David Boyce Individual 06. Mar 19 06. Mar 19 -353 $49.00 $-17,297
05. Mar 19 Sell Carrie Fanlo Individual 01. Mar 19 01. Mar 19 -536 $50.00 $-26,800
06. Mar 19 Sell David Boyce Individual 11. Dec 18 11. Dec 18 -353 $43.30 $-15,284
X
Management checks
We assess Forrester Research's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Forrester Research has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Neil Bradford Is The Director of Forrester Research, Inc. (NASDAQ:FORR) And They Just Spent US$99k On Shares

View our latest analysis for Forrester Research The Last 12 Months Of Insider Transactions At Forrester Research Notably, that recent purchase by Neil Bradford is the biggest insider purchase of Forrester Research shares that we've seen in the last year. … Over the last year we saw more insider selling of Forrester Research shares, than buying. … Overall, we'd prefer see a more sustained buying from directors, but with a significant insider holding and more recent purchases, Forrester Research insiders are reasonably well aligned, and optimistic for the future.

Simply Wall St -

Is Forrester Research (NASDAQ:FORR) A Risky Investment?

(NASDAQ:FORR) does have debt on its balance sheet. … NasdaqGS:FORR Historical Debt, August 23rd 2019 A Look At Forrester Research's Liabilities We can see from the most recent balance sheet that Forrester Research had liabilities of US$259.5m falling due within a year, and liabilities of US$215.3m due beyond that. … Looking at all the angles mentioned above, it does seem to us that Forrester Research is a somewhat risky investment as a result of its debt.

Simply Wall St -

Forrester Research, Inc. (NASDAQ:FORR) Delivered A Weaker ROE Than Its Industry

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Forrester Research: 2.6% = US$3.8m ÷ US$144m (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Forrester Research's Debt And Its 2.6% Return On Equity Forrester Research does use a significant amount of debt to increase returns. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Have Insiders Been Selling Forrester Research, Inc. (NASDAQ:FORR) Shares This Year?

View our latest analysis for Forrester Research The Last 12 Months Of Insider Transactions At Forrester Research In the last twelve months, the biggest single sale by an insider was when the , Clifford Condon, sold US$236k worth of shares at a price of US$45.00 per share. … NasdaqGS:FORR Recent Insider Trading, July 4th 2019 Forrester Research Insiders Are Selling The Stock We have seen a bit of insider selling at Forrester Research, over the last three months. … It's heartening that insiders own plenty of stock, but we'd like to see more insider buying, since the last year of Forrester Research insider transactions don't fill us with confidence.

Simply Wall St -

The Forrester Research (NASDAQ:FORR) Share Price Is Up 28% And Shareholders Are Holding On

Furthermore, you'd generally like to see the share price rise faster than the market Unfortunately for shareholders, while the Forrester Research, Inc. … During five years of share price growth, Forrester Research actually saw its EPS drop 17% per year. … Forrester Research's TSR over the last 5 years is 39%; better than its share price return.

Simply Wall St -

How Should Investors React To Forrester Research, Inc.'s (NASDAQ:FORR) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … View our latest analysis for Forrester Research How Does George Colony's Compensation Compare With Similar Sized Companies? … A first glance this seems like a real positive for shareholders, since George Colony is paid less than the average total compensation paid by similar sized companies.

Simply Wall St -

Are Forrester Research, Inc.’s Returns On Capital Worth Investigating?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Forrester Research: 0.13 = US$21m ÷ (US$354m - US$190m) (Based on the trailing twelve months to March 2019.) So, Forrester Research has an ROCE of 13%. … What Are Current Liabilities, And How Do They Affect Forrester Research's ROCE? … The Bottom Line On Forrester Research's ROCE While its ROCE looks decent, it wouldn't look so good if it reduced current liabilities.

Simply Wall St -

Despite Its High P/E Ratio, Is Forrester Research, Inc. (NASDAQ:FORR) Still Undervalued?

Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. … To keep it practical, we'll show how Forrester Research, Inc.'s (NASDAQ:FORR) P/E ratio could help you assess the value on offer. … What is Forrester Research's P/E ratio?

Simply Wall St -

Is Forrester Research, Inc.'s (NASDAQ:FORR) ROE Of 10% Impressive?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Forrester Research, Inc. … Over the last twelve months Forrester Research has recorded a ROE of 10%. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Many Insiders Sold Forrester Research, Inc. (NASDAQ:FORR) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Forrester Research, Inc. … Forrester Research Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Forrester Research shares, than buying

Simply Wall St -

Company Info

Description

Forrester Research, Inc. operates as an independent research, data, and advisory services company in the United States and internationally. It operates through Research, Product, and Project Consulting segments. Its primary syndicated research product is Research, which offers clients with access to its syndicated research designed to inform their strategic decision-making. The company’s Research product offerings consist of cross-linked documents that interconnect the company’s playbooks, reports, data, product rankings, best practices, evaluation tools, and research archives, which are provided through role-based Websites. It also offers leadership boards that are peer groups for executives and other senior leaders at large organizations; and executive programs to chief marketing officers and chief information officers with personal coaches who help the executives and their teams establish and tackle their initiatives. In addition, the company provides analytics products and services, including Customer Experience Index, a framework for assessing and measuring customer experience quality; Consumer Technographics, a quantitative research program that provides access to the data, insights, and analytic tools; Business Technographics, which provides assessments of what motivates businesses to choose certain technologies and vendors, as well as measures and reports on the current information consumption patterns of key influencers for large technology purchases; FeedbackNow, which allows companies to measure, analyze, and improve customer experience; and ForecastView that provides a detailed evaluation of market size, based on expert analysis and quantitative insights from consumer and business surveys. Further, it offers advisory and project consulting services, as well as hosts various events in North America, Europe, and Asia. Forrester Research, Inc. was founded in 1983 and is headquartered in Cambridge, Massachusetts.

Details
Name: Forrester Research, Inc.
FORR
Exchange: NasdaqGS
Founded: 1983
$737,617,420
18,622,000
Website: http://www.forrester.com
Address: Forrester Research, Inc.
60 Acorn Park Drive,
Cambridge,
Massachusetts, 02140,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FORR Common Shares Nasdaq Global Select US USD 27. Nov 1996
Number of employees
Current staff
Staff numbers
1,785
Forrester Research employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/05 23:37
End of day share price update: 2019/12/05 00:00
Last estimates confirmation: 2019/10/29
Last earnings filing: 2019/11/08
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.