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FORRESTER RESEARCH, INC.

FORR

$11.76 ▼ -0.22 (-1.88%) at close

18 Visible periods

34 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Moderately Bearish

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Analytical Summary

FORRESTER RESEARCH, INC. faces fundamental challenges with weakness in Return on Common Equity (%) and Profit Margin (%). On the positive side, Debt to Equity remains strong. Investors should exercise caution and monitor for improvement in key metrics.

Market Cap $223.6M

Dividend Yield —

Revenue Growth -8.2% ↗

Op. Margin -28.5% ↘

ROIC -89.4% ↘

FCF / Share $0.95 ↗

Trailing P/E —

Price / Book 1.8x

FCF Yield 8.1%

Debt / Equity 0.00

info Valuation on last close. End-of-day price, Aug 7, 2026.

18-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$396.89M

↓ -8.2% —

Net Income Profit after all expenses

$-119.36M

↓ -1976.9% —

Operating Margin Operating profit as % of sales

-28.5%

↓ -16764.8% 8th

FCF / Share Free cash flow per share

$0.95

↑ +350.2% —

Long-Term Debt Long-term obligations

$0.00

↓ -100.0% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns

Financial Health

Cash Quality

Dividend History

Dividend / share · sourced from SEC filings

$0.80 Latest / share

+5.3% YoY

+5.7% 5-yr CAGR

$0.64

FY 2014

$0.68

FY 2015

$0.72

FY 2016

$0.76

FY 2017

$0.80

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	-8.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-265%)	-10.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-301%)	-10.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-312%)	8.8% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+76%)	10.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+102%)	-2.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-155%)	29.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+482%)	5.9% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+18%)	—	—	—	—	—	—	13.1% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+162%)	7.4% Fair Fair Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+49%)	—	—
EPS Growth YoY (%)	-1993.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	N/M	-86.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-11.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	-1.9% Weak ↑ Weak Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	1.2% Caution ↓ Caution Declining Year-over-year change in earnings per share Optimal: > 10%	-14.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	46.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	15.5% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	-6.5% Weak → Weak Stable Year-over-year change in earnings per share Optimal: > 10%	-47.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	14.7% Fair ↑ Fair Improving Year-over-year change in earnings per share Optimal: > 10%	12.1% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	9.6% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-1976.9% Weak ↓ Weak Declining Year-over-year change in net income	N/M	-86.0% Weak ↓ Weak Declining Year-over-year change in net income	-12.2% Weak Weak Year-over-year change in net income	148.7% Excellent Excellent Year-over-year change in net income	N/M	N/M	1.6% Caution ↓ Caution Declining Year-over-year change in net income	-14.2% Weak ↓ Weak Declining Year-over-year change in net income	47.1% Excellent ↑ Excellent Improving Year-over-year change in net income	10.4% Fair ↑ Fair Improving Year-over-year change in net income	-16.6% Weak ↓ Weak Declining Year-over-year change in net income	-50.5% Weak ↓ Weak Declining Year-over-year change in net income	14.3% Fair ↑ Fair Improving Year-over-year change in net income	12.2% Fair Fair Year-over-year change in net income	8.7% Fair Fair Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	N/M	-52.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	-64.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	144.3% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	4.5% Caution ↓ Caution Declining Year-over-year change in free cash flow	7.1% Fair Fair Year-over-year change in free cash flow	11.5% Fair Fair Year-over-year change in free cash flow	—	—	—	—	—	208.9% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-38.4% Weak Weak Year-over-year change in free cash flow	-34.5% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	-9.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-4.4% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	2.3% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	5.2% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	11.4% Good Good Compound annual revenue growth over 3 years	10.0% Fair Fair Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	-2.4% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-1.3% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	6.1% Fair Fair Compound annual revenue growth over 5 years	9.8% Good Good Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	—	—	—	15.2% Excellent Excellent Compound annual EPS growth over 3 years	—	—	8.3% Fair ↑ Fair Improving Compound annual EPS growth over 3 years	13.1% Good ↑ Good Improving Compound annual EPS growth over 3 years	16.5% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	-17.0% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-17.2% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-12.0% Weak Weak Compound annual EPS growth over 3 years	12.1% Good Good Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	-28.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-338%)	0.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-99%)	1.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	6.1% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	7.8% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	-3.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-130%)	-0.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-102%)	6.3% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-48%)	8.2% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-32%)	—	—	—	—	—	13.0% Fair → Fair Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+9%)	12.3% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	13.9% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+16%)	—
Effective Tax Rate (%) (%)	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	317.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	51.5% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.0% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.1% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.8% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.3% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.6% Weak ↓ Weak Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	44.7% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	42.5% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	37.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	40.9% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	34.9% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	18.2% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—
Profit Margin (%) (%)	-30.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-476%)	-1.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	0.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-92%)	4.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	5.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	2.2% Weak → Weak Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	-2.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-126%)	4.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	4.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	—	—	—	—	—	8.1% Caution → Caution Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	8.2% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	8.1% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	—
FCF Margin (%) (%)	4.6% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-1.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	6.3% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	19.5% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	8.7% Caution → Caution Stable Free cash flow as a percentage of revenue Optimal: > 10%	7.9% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	9.3% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	8.8% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	5.5% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	10.1% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	16.6% Good Good Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.15x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.26x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	5.30x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.55x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.88x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.89x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-3.82x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.17x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	1.96x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	1.83x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.68x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.23x Good Good Free cash flow relative to reported net income Optimal: > 1x	2.06x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Return on Invested Capital (%)	-89.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-0.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	8.5% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	10.4% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	-4.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-0.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	9.7% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.8% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	11.8% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	9.2% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	6.9% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.5% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.1% Good ↑ Good Improving Return earned on debt + equity capital invested Optimal: > 10%	8.9% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	8.2% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-28.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	5.4% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	5.7% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	-2.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-0.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.3% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.0% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	9.2% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	5.9% Caution → Caution Stable Operating profit relative to total assets Optimal: > 10%	5.5% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	5.4% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	6.3% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.6% Fair Fair Operating profit relative to total assets Optimal: > 10%	6.8% Caution Caution Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-94.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-729%)	-2.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-117%)	1.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-92%)	9.8% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-34%)	12.2% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-19%)	5.4% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-64%)	-6.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-140%)	10.1% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-32%)	10.7% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-29%)	11.8% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-22%)	9.4% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-37%)	7.7% Caution → Caution Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-49%)	6.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-58%)	8.8% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-41%)	7.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-47%)	7.5% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-50%)	6.0% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-60%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Debt to Equity (x)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.15x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-78%)	0.15x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-79%)	0.23x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-68%)	0.37x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-47%)	0.58x Good Good Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-17%)	0.83x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+18%)	—	—	—	—	—	—	—	—	—	—	—
Interest Coverage (x)	-50.64x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.29x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	2.61x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	16.21x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	9.15x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	-3.03x Weak Weak Operating income divided by interest expense Optimal: > 5x	-0.13x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—	—	—	—	—
Net Debt (USD)	$-63.34M	$-21.09M	$-37.91M	$-53.63M	$-40.77M	$17.54M	$62.64M	$-140.30M	$-79.79M	$-76.96M	$-53.33M	$-49.65M	$-74.13M	$-98.81M	$-81.05M	$-86.93M	$-97.81M	$-129.48M
Debt / EBITDA (x)	0.00x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.22x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.30x Fair ↑ Fair Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.19x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.56x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-17.12x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	17.41x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—	—	—

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	$20.87	$22.65	$25.06	$28.35	$25.87	$23.85	$24.97	$19.77	$18.84	—	—	—	—	—	$12.51	$11.15	$10.30	—
Basic EPS, GAAP (USD)	$-6.28	$-0.30	$0.16	$1.15	$1.30	$-0.53	$-0.52	$0.85	$0.84	$0.98	$0.67	$0.58	$0.62	$1.17	$1.02	$0.91	$0.83	—
Free Cash Flow per Share (USD)	$0.95	$-0.38	$0.84	$1.78	$5.04	$2.06	$1.97	$1.84	$1.65	—	—	—	—	$2.14	$0.69	$1.12	$1.71	—
Dividend per Share (USD)	—	—	—	—	—	—	—	$0.80	$0.76	$0.72	$0.68	$0.64	$0.60	—	—	—	—	—
Book Value per Share (USD)	$6.65	$12.18	$12.48	$11.63	$10.70	$9.77	$8.48	$8.28	$7.83	$8.17	$7.17	$7.80	$10.36	$13.33	$12.78	$11.92	$13.78	—
Tangible Book Value per Share (USD)	$0.32	$0.08	$-0.21	$-1.08	$-2.16	$-3.23	$-4.60	$3.63	$3.60	$4.19	$3.00	$3.58	$6.31	$9.79	$9.64	$8.94	$13.78	—
Basic Weighted Avg Shares (shares)	19.02M	19.09M	19.18M	18.97M	19.11M	18.83M	18.49M	18.09M	17.92M	17.98M	17.93M	18.71M	20.86M	22.50M	22.67M	22.48M	22.64M	—
Dividend Payout Ratio (%)	—	—	—	—	—	—	—	94.1% Weak ↑ Weak Improving Dividends paid as a percentage of earnings Optimal: 30-60%	90.5% Weak → Weak Stable Dividends paid as a percentage of earnings Optimal: 30-60%	73.5% Caution ↓ Caution Declining Dividends paid as a percentage of earnings Optimal: 30-60%	101.5% Weak → Weak Stable Dividends paid as a percentage of earnings Optimal: 30-60%	110.3% Weak Weak Dividends paid as a percentage of earnings Optimal: 30-60%	96.8% Weak Weak Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Working Capital (USD)	$-27.38M	$-2.61M	$-24.08M	$-34.10M	$-42.85M	$-52.59M	$-76.89M	$46.11M	$41.77M	$45.96M	$15.27M	$26.30M	$78.99M	$155.28M	$158.10M	$146.14M	—	—
LT Debt (USD)	$0.00	$35.00M	$35.00M	$50.00M	$75.00M	$107.80M	$130.54M	—	—	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$126.53M	$229.54M	$240.26M	$221.66M	$203.91M	$185.77M	$158.09M	$151.60M	$141.19M	$150.04M	$127.30M	$141.60M	$204.66M	$297.21M	$290.74M	$271.91M	$311.94M	$303.50M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	$396.89M	$432.47M	$480.78M	$537.79M	$494.31M	$448.98M	$461.70M	$357.57M	$337.67M	—	—	—	—	—	$283.62M	$250.73M	$233.35M	—
Depreciation Expense (USD)	$6.03M	$7.56M	$8.45M	$9.27M	$9.39M	$9.88M	$8.57M	$7.96M	$6.65M	$7.81M	$8.19M	$9.32M	$9.27M	$8.92M	$5.36M	$3.63M	$4.38M	—
Net Income, GAAP (USD)	$-119.36M	$-5.75M	$3.05M	$21.81M	$24.84M	$9.99M	$-9.57M	$15.38M	$15.14M	$17.65M	$12.00M	$10.87M	$13.02M	$26.30M	$23.01M	$20.51M	$18.87M	—
Operating Cash Flow (USD)	$21.08M	$-3.86M	$21.67M	$39.42M	$107.07M	$47.75M	$48.41M	$38.42M	$37.49M	—	—	—	—	$53.15M	$55.44M	$38.66M	$43.10M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 18 years · 67 quarters

FORRESTER RESEARCH, INC.

Analytical Summary

18-Year Financial Trajectory

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Bearish Risks

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