Forrester Research Inc. Common Stock (FORR)

FairStock Score: 39/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable businesses, honest financials, and a margin of safety. Forrester Research is a research and advisory firm with 1,361 employees. Subscription research can create repeat business and some loyalty, but the record shows no wide moat. Revenue has slipped: fiscal 2025, the year ended 2025-12-31, produced $396.9 million, down from $432.5 million in fiscal 2024 and $480.8 million in fiscal 2023. More troubling, fiscal 2025 net income was a loss of $119.4 million, or diluted EPS of -$6.28, after a small profit of $3.0 million in fiscal 2023. The $15.3 million profit in fiscal Q2 2026, the quarter ended 2026-06-30, is encouraging, but that quarter's revenue of $100.2 million was below fiscal Q2 2025's $111.7 million. Fiscal Q1 2026, the quarter ended 2026-03-31, still lost $21.8 million. Free cash flow is only $3.0 million, a 1.3% yield on the $226 million market cap at the 2026-10-13 close. FairStock calculations show a negative P/E of -5.32 and negative ROE of -30.28%; the Altman Z-Score of 0.93 flags financial stress, though debt-to-equity of 0.53 is not extreme. The Piotroski F-Score of 5/9 is middling. At $11.87, price-to-book is 1.88, so the market is not paying a premium, but without reliable earnings or cash flow, cheapness is debatable. FairStock's 39/100 score and Lynch TURNAROUND label fit: a once-profitable company now losing money. I would want evidence of sustainable revenue stabilization and cash generation before calling this a bargain.

In plain English: Forrester Research sells research, consulting, and events to business and technology leaders. The business has been shrinking and lost a lot of money in its latest full year, though it earned a profit in the most recent quarter. At $11.87, the stock is hard to call cheap because profits and cash flow are still weak; it looks more like a risky turnaround than a steady bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer