Company Valuation: Forrester Research, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 1,126 681.3 515.8 297.7 154.3 223.7 -
Change - -39.49% -24.29% -42.29% -48.16% 44.98% -
Enterprise Value (EV) 1 1,067 608 426.3 228 61.65 81.65 93.67
Change - -43% -29.88% -46.52% -72.96% 32.45% 14.72%
P/E 45.9x 31.4x 168x -52.2x -1.29x -23x 58.8x
PBR - - - - - - -
PEG - -2.9x -2x 0x -0x 0.3x -0x
Capitalization / Revenue 2.28x 1.27x 1.07x 0.69x 0.39x 0.63x 0.63x
EV / Revenue 2.16x 1.13x 0.89x 0.53x 0.16x 0.23x 0.26x
EV / EBITDA 16.9x 9.44x 5.86x 4.95x 1.7x 3x 3.05x
EV / EBIT 27.6x 14.5x 8.15x 5.92x 2.04x 3.75x 3.66x
EV / FCF 11.1x 18x 26.4x -31.4x 3.41x 1.68x 4.56x
FCF Yield 9.03% 5.55% 3.79% -3.18% 29.4% 59.4% 21.9%
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 11.75 11.75
Nbr of stocks (in thousands) 19,171 19,052 19,239 18,996 19,003 19,039 -
Announcement Date 10/2/22 9/2/23 8/2/24 11/2/25 12/2/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-23.04x0.23x3x - 224M
64x - - - 467M
18.27x1.17x5.78x2.07% 421M
Average 19.74x 0.70x 4.39x 2.07% 370.67M
Weighted average by Cap. 29.17x 0.85x 4.82x 2.07%

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 Forrester Research, Inc.
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