Company Valuation: Forian Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025
Market Cap 1 280.9 87.74 88.48 63.89 65.87
Change - -68.76% 0.84% -27.78% 3.1%
Enterprise Value (EV) 1 274.9 92.77 65.02 35.54 34.33
Change - -66.26% -29.91% -45.33% -3.4%
P/E -10x -3.37x 8.58x -17x -22.9x
PBR 11.1x 7.01x 3.45x 2.13x 2.21x
PEG -0x 0.34x -0x 0x 1x
Capitalization / Revenue 16.6x 3.13x 4.32x 3.17x 2.18x
EV / Revenue 16.3x 3.31x 3.17x 1.76x 1.13x
EV / EBITDA -10.8x -5.11x -13.2x -5.68x -9.67x
EV / EBIT -10.4x -4.52x -13x -5.63x -9.14x
EV / FCF -46.1x 55.6x -85.4x 5.57x 8.8x
FCF Yield -2.17% 1.8% -1.17% 18% 11.4%
Dividend per Share 2 - - - - -
Rate of return - - - - -
EPS 2 -0.9 -0.8108 0.3408 -0.1214 -0.0924
Distribution rate - - - - -
Net sales 1 16.88 28.01 20.48 20.15 30.26
EBITDA 1 -25.41 -18.16 -4.921 -6.254 -3.55
EBIT 1 -26.41 -20.51 -4.995 -6.317 -3.758
Net income 1 -26.55 -25.97 11.11 -3.771 -2.874
Net Debt 1 -5.931 5.032 -23.46 -28.35 -31.54
Reference price 2 9.020 2.730 2.925 2.060 2.120
Nbr of stocks (in thousands) 31,139 32,138 30,249 31,016 31,072
Announcement Date 3/31/22 3/30/23 3/29/24 4/11/25 3/27/26
1USD in Million2USD
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 67.79M
33.77x5.9x22.6x0.27% 251B
38.31x6.82x21.62x0.62% 159B
44.67x11.83x26.11x-.--% 146B
16.59x3.4x11.08x-.--% 63.59B
34.8x6.97x22.06x-.--% 50.77B
34.09x6.74x22.89x0.59% 49.35B
18.96x2.31x11.71x2.65% 48.75B
42.65x10.31x22.72x-.--% 45.1B
77.6x7.38x22.48x-.--% 43.55B
Average 37.94x 6.85x 20.36x 0.46% 85.7B
Weighted average by Cap. 37.12x 7.11x 21.52x 0.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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  4. Valuation Forian Inc.