FORA.TO (FORA) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of FORA.TO C$8.20, price C$2.73, upside +200.0%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch FORA.TO for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
VerticalScope Holdings Inc., a technology company, operates a cloud-based digital community platform for online enthusiast communities in the United States, Canada, the United Kingdom, Australia, and internationally.
Show more
VerticalScope Holdings Inc., a technology company, operates a cloud-based digital community platform for online enthusiast communities in the United States, Canada, the United Kingdom, Australia, and internationally. The company offers digital advertising services comprising direct advertising campaigns; programmatic advertising, such as monetization of display and video impressions, and private marketplace and programmatic guaranteed advertising; and custom content solutions that manages and produces branded content for advertisers, including product reviews, articles, e-mail features, and short videos. It also provides e-commerce solutions that monetize content through arrangements in respect of commissions and referral payments with e-commerce merchants, brands, and marketplaces. The company focuses on hyper-specific subjects that engender strong affinity from online communities of super fans, experts, pros, hobbyists, and armchair analysts. Its brands include communities for watch geeks, audio nerds, motorheads, fitness-obsessed, mountain bikers, DIYers, deal junkies, and enthusiasts. VerticalScope Holdings Inc. was founded in 1999 and is headquartered in Toronto, Canada.
Stock analysis
FORA.TO (FORA) currently trades at C$2.73, while our model-based Fair Value estimate is C$8.20, implying the stock looks roughly 66.7% undervalued today.
Show more
Valuation
Bull case: the Growth DCF group reads highest at a median of C$9.31 per share, and 10 of the 11 models we run sit above the C$2.73 price.
Bear case: the Asset-Based group reads lowest at C$2.68, and 1 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: C$5.84 (bear) to C$11.12 (bull), the price of C$2.73 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
FORA.TO reported revenue of $59.2M in FY2025 versus $65.8M in FY2021, a compound −2.6%/yr. Reported net income was −$8.2M in FY2025.
Key figures
Market cap C$59.0M (≈ $41.7M) · P/S ratio 1.04 · EPS (TTM) C$−0.5700 · Net margin −13.8% · Return on equity −11.3% · Return on assets (EBIT) −2.9% · Operating margin −30.7% · Revenue (TTM) $56.1M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 200%, FORA screens cheaper than that median.
Fair Value models
Bear C$5.84Fair Value C$8.20Bull C$11.12
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.30/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−14.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.0%
’18
’19
’20
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
6.3% (2020) → −8.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−22.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −24.0% a year for the price and −1.6% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Content & Information · 150 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+200% · Top 25%
Profitability
Return on assets−2% · Below median
Net margin (TTM)−16% · Bottom 25%
Operating margin (TTM)−31% · Bottom 25%
Growth and dividend
Revenue growth−15% · Bottom 25%
Balance sheet
Debt / equity0.59× · Highest 25%
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
P/B0.55× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "FORA.TO Fair Value". https://www.fairvalue-calculator.com/stock/FORA
Frequently asked questions
Is FORA.TO (FORA) overvalued or undervalued?
As of Sep 25, 2026, our model estimates a fair value of C$8.20 versus a price of C$2.73, about +200% upside (undervalued).
What is the fair value of FORA?
Our model-based fair value for FORA.TO is C$8.20 (as of Sep 25, 2026), built from audited fundamentals. The current price: C$2.73.
What is the quality score of FORA?
FORA.TO has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for FORA.TO (FORA)?
Our model-based price target is the fair value of C$8.20 (as of Sep 25, 2026) from 11 valuation models. Cautious scenario C$5.84, optimistic scenario C$11.12. It is a calculation from audited fundamentals, not an analyst target.
What is the FORA.TO stock forecast for 2026?
Our models put fair value at C$8.20, about +200% upside versus a price of C$2.73 (undervalued). Cautious scenario C$5.84, optimistic scenario C$11.12. The calculation is refreshed regularly with new filings.
What is the revenue of FORA.TO (FORA)?
FORA.TO reported trailing-twelve-month revenue of about $56.1M (latest available figure, as of Sep 25, 2026).
What growth is priced into FORA.TO (FORA)?
For today's price to be fair in a discounted-cash-flow model, FORA.TO would have to grow free cash flow by -22.2 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Sep 25, 2026.
What discount rate (WACC) does the fair value of FORA use?
Our models discount FORA.TO at 8.3 %: a base by market capitalisation (nano), damped by beta 0.07, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For FORA.TO that is -22.2 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has FORA.TO (FORA) delivered so far?
Over the past 5 years revenue at FORA.TO grew +0.8 % a year. The price currently implies -22.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of FORA.TO (FORA) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into FORA.TO (-22.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of FORA.TO (FORA)?
The free-cash-flow yield on the price is 42.07 %: that much free cash flow FORA.TO produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FORA.TO (FORA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FORA.TO it is C$8.20 per share (as of Sep 25, 2026), against a price of C$2.73. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is FORA.TO stock overvalued or undervalued in 2026?
As of Sep 25, 2026, FORA trades below its calculated fair value: price C$2.73, fair value C$8.20, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FORA?
No. The price is what the market pays today (C$2.73); the fair value is what the company's own numbers justify (C$8.20). For FORA.TO the two are C$5.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is FORA.TO worth?
The market values FORA.TO at about C$59.0M (market capitalisation, as of Sep 25, 2026). Per share that is C$2.73; our models calculate a fair value of C$8.20 per share.
What do the bullish and bearish scenarios say about FORA?
Our models span a range for FORA.TO: cautious scenario C$5.84, base C$8.20, optimistic C$11.12 per share (as of Sep 25, 2026, price C$2.73). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FORA.TO (FORA)?
Balance-sheet figures for FORA.TO (as of Sep 25, 2026): return on equity −11.3%, debt of 0.59 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
Which stocks are comparable to FORA.TO?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is FORA.TO stock attractive at the current price?
The data as of Sep 25, 2026: price C$2.73, calculated fair value C$8.20 (+200%), Quality Score 48/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FORA calculated?
We run FORA.TO through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$8.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. FORA.TO currently trades 200 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of FORA.TO (FORA)?
The closing price on Sep 25, 2026 was C$2.73. Our model-based fair value is C$8.20, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FORA.TO right now?
The price is below even our cautious bear case (C$5.84). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (C$5.84 to C$11.12) leaves room in how you read the outcome.
Key figures of FORA.TO
How large is the market capitalisation of FORA.TO (FORA)?
The market capitalisation of FORA.TO is C$59.0M (≈ $41.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of FORA.TO (FORA)?
The price-to-sales ratio of FORA.TO is 1.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FORA.TO (FORA)?
Earnings per share at FORA.TO are C$−0.5700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of FORA.TO (FORA)?
The net margin of FORA.TO is −13.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of FORA.TO (FORA)?
The return on equity (ROE) of FORA.TO is −11.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of FORA.TO (FORA)?
On an EBIT basis the return on assets of FORA.TO is −2.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of FORA.TO (FORA)?
The operating margin of FORA.TO is −30.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FORA.TO (FORA)?
Revenue at FORA.TO is growing −14.8% versus a year earlier (3y avg −9.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at FORA.TO (FORA)?
Earnings per share at FORA.TO are growing +13.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does FORA.TO (FORA) carry?
The net debt of FORA.TO is $29.0M (fiscal year 2025, ≈ 1.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch FORA.TO in the live analysis
One click puts FORA.TO on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Thin data
Sep 25, 2026