Company Valuation: Forrester Research, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 1,126 681.3 515.8 297.7 154.3 213.6 -
Change - -39.49% -24.29% -42.29% -48.16% 38.44% -
Enterprise Value (EV) 1 1,067 608 426.3 228 61.65 71.56 83.58
Change - -43% -29.88% -46.52% -72.96% 16.08% 16.79%
P/E 45.9x 31.4x 168x -52.2x -1.29x -22x 56.1x
PBR - - - - - - -
PEG - -2.9x -2x 0x -0x 0.2x -0x
Capitalization / Revenue 2.28x 1.27x 1.07x 0.69x 0.39x 0.6x 0.6x
EV / Revenue 2.16x 1.13x 0.89x 0.53x 0.16x 0.2x 0.23x
EV / EBITDA 16.9x 9.44x 5.86x 4.95x 1.7x 2.63x 2.72x
EV / EBIT 27.6x 14.5x 8.15x 5.92x 2.04x 3.29x 3.26x
EV / FCF 11.1x 18x 26.4x -31.4x 3.41x 1.48x 4.07x
FCF Yield 9.03% 5.55% 3.79% -3.18% 29.4% 67.8% 24.6%
Dividend per Share 2 - - - - - - -
Rate of return - - - - - - -
EPS 2 1.28 1.14 0.16 -0.3 -6.28 -0.51 0.2
Distribution rate - - - - - - -
Net sales 1 494.3 537.8 480.8 432.5 396.9 355.2 357.7
EBITDA 1 63.16 64.42 72.69 46.06 36.28 27.22 30.73
EBIT 1 38.64 41.99 52.28 38.5 30.26 21.77 25.62
Net income 1 24.84 21.81 3.05 -5.747 -119.4 -9.795 3.722
Net Debt 1 -59.28 -73.32 -89.49 -69.67 -92.66 -142.1 -130
Reference price 2 58.73 35.76 26.81 15.67 8.12 11.22 11.22
Nbr of stocks (in thousands) 19,171 19,052 19,239 18,996 19,003 19,039 -
Announcement Date 2/10/22 2/9/23 2/8/24 2/11/25 2/12/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-22x0.2x2.63x - 214M
13.63x1.48x6.74x4.16% 26.49B
9.07x0.99x5.58x4.46% 20.34B
11.98x5.2x9.02x7.18% 10.19B
131.89x0.54x89.06x - 6.62B
16.24x1.37x4.72x2.85% 5.86B
11.07x0.77x4.85x-.--% 5.85B
16.5x0.71x4.32x4.03% 5.32B
-51.73x1.73x7.29x0% 4.91B
Average 15.18x 1.44x 14.91x 3.24% 9.53B
Weighted average by Cap. 17.83x 1.64x 12.69x 3.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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