EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Forrester Research Inc (FORR) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Forrester Research Inc $3.97, price $11.78, upside -66.3%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · US · ISIN US3465631097

FR Forrester Research Inc logo Some data Sep 23, 2026

Forrester Research Inc

FORR · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $3.97 · Strongly overvalued (−66%)
!Quality 50/100
!Weak Growth (revenue 5y −2.4 %/yr)
!Loss-making · -13.7% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (5/13)
!Narrow moat 12/100
!Evidence only medium, so the estimate is less certain
Watch Forrester Research Inc 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 free Pro now: $1 first month

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$60.73 $5.05 Fair Value $3.97 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $5.05 – $60.73 · fair‑value band $3.89 – $4.03 · the $11.78 price screens above the $3.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

Follow Forrester Research in your weekly email

Every Wednesday you see whether Forrester Research is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Forrester Research, Inc. operates as an independent research and advisory company in the United States, Europe, the United Kingdom, Canada, Asia Pacific, and internationally. It operates in three segments: Research, Consulting, and Events.

Show more

Forrester Research, Inc. operates as an independent research and advisory company in the United States, Europe, the United Kingdom, Canada, Asia Pacific, and internationally. It operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions which are designed to provide business and technology leaders with a proven path to growth through customer obsession. This segment delivers content, such as future trends, predictions, and market forecasts; deep consumer and business buyer data and insights; curated best practice models and tools to run business functions; operational and performance benchmarking data; and technology and service market landscapes and vendor evaluations. Its Consulting segment provides consulting projects, content marketing, and advisory services. The Events segment hosts events related to business-to-business marketing, sales and product leadership, customer experience, security and risk, and new technology and innovation. It sells its products and services through direct sales force. Forrester Research, Inc. was incorporated in 1983 and is headquartered in Cambridge, Massachusetts.

Stock analysis

Forrester Research Inc (FORR) currently trades at $11.78, while our model-based Fair Value estimate is $3.97, implying the stock looks roughly 196.7% overvalued today.

Show more

Valuation

Bull case: the DCF Models group reads highest at a median of $14.13 per share, and 5 of the 13 models we run sit above the $11.78 price.

Bear case: the Earnings-Based group reads lowest at $3.99, and 8 of the 13 models stay below the price. Evidence for this calculation is medium.

Scenario range: $3.89 (bear) to $4.03 (bull), the price of $11.78 sits above 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 50/100 (solid quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Forrester Research Inc reported revenue of $397M in FY2025 versus $494M in FY2021, a compound −5.3%/yr. Reported net income was −$119M in FY2025.

Key figures

Market cap $224M · P/S ratio 0.33 · EPS (TTM) $−2.80 · Net margin −30.1% · Return on equity −42.5% · Return on assets (EBIT) 2.6% · Operating margin −6.7% · Revenue (TTM) $392M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 7% below its 52-week high and 133% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at −66%, FORR screens richer than that median.

Fair Value models

Bear $3.89 Fair Value $3.97 Bull $4.03
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.
Highest evidence
FCF DCF $11.72 $14.52 $17.85 82
Growth DCF $11.79 $14.27 $17.08 80
5Y EBITDA Exit $11.10 $14.74 $18.80 76
All 13 models by family
DCF Models
FCF DCF $11.72 $14.52 $17.85 82
5Y Revenue Exit $7.51 $8.25 $9.02 74
5Y EBITDA Exit $11.10 $14.74 $18.80 76
10Y Revenue Exit $9.34 $10.35 $11.41 68
10Y EBITDA Exit $11.29 $14.13 $17.59 70
Earnings-Based
EPV $3.91 $3.99 $4.05 74
Multiples
EV/EBIT $4.54 $4.97 $5.40 66
EV/EBITDA $11.66 $14.46 $17.26 67
EV/Revenue $4.18 $4.57 $4.96 54
Asset-Based
NCAV (Graham) $3.26 $4.37 $6.52 54
Growth DCF
Growth DCF $11.79 $14.27 $17.08 80
Rev-Margin DCF $7.51 $8.44 $9.56 74
Economic Profit
ROIC Compounder $3.91 $3.99 $4.05 72

Open the full fair value analysis →

Notify me when FORR reaches fair value

Put FORR on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 64

Profitability 35
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 82
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 85
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 18/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−8.2%
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.
−9.6%
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.
−2.4%
Start year 2020 (pandemic). Over 10 years: +2.4% a year
Revenue growth 30 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.
+11.6%
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.
−0.2% (2019) → 0.2% (2024)
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

Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
−3.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −5.4% a year for the price.

FORR screens 197% overvalued. Compare with Verisk Analytics, Inc →

Compare Forrester Research Inc with another stock

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.Consulting Services · 86 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 50 · Below median
Fair Value upside −66% · Bottom 25%
Profitability
Return on assets 1% · Below median
Net margin (TTM) −14% · Bottom 25%
Operating margin (TTM) −7% · Bottom 25%
Growth and dividend
Revenue growth −5% · Below median

Valuation Multiplesvs Consulting Services median · lower = cheaper

P/B 1.77× · 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.
P/S (TTM) 0.57× · Cheaper than median
P/FCF 12.4× · Pricier than median
EV/EBITDA 9.4× · Cheaper than median
PEG 0.76× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 41
FUTURE (revenue growth)0 · sector 10
PAST (return on equity)0 · sector 40
HEALTH (low debt)100 · sector 89
DIVIDEND (yield)0 · sector 61

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Consulting Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Verisk Analytics, Inc VRSK $171.80 $145.58 −15%
SGS SA SGSN CHF 95.42 CHF 70.19 −26%
Equifax Inc EFX $159.78 $108.09 −32%
Bureau Veritas SA BVI €27.80 €27.81 +0%
ALS Limited ALQ A$20.86 A$11.19 −46%
Booz Allen Hamilton Holding BAH $75.65 $158.86 +110%
DKSH Holding DKSH CHF 67.60 CHF 65.57 −3%
FTI Consulting, Inc FCN $134.70 $164.69 +22%
Centre Testing International Group 300012 ¥14.73 ¥16.20 +10%
GRG Metrology & Test Group 002967 ¥17.07 ¥18.78 +10%

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

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.

Forrester Research Inc · Fair Value
$3.97 −197%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Forrester Research Inc Fair Value". https://www.fairvalue-calculator.com/stock/FORR

Frequently asked questions

Is Forrester Research Inc (FORR) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $3.97 versus a price of $11.78, about −66% upside (overvalued).
What is the fair value of FORR?
Our model-based fair value for Forrester Research Inc is $3.97 (as of Sep 23, 2026), built from audited fundamentals. The current price: $11.78.
What is the quality score of FORR?
Forrester Research Inc has a Quality Score of 50/100. 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 Forrester Research Inc (FORR)?
Our model-based price target is the fair value of $3.97 (as of Sep 23, 2026) from 13 valuation models. Cautious scenario $3.89, optimistic scenario $4.03. It is a calculation from audited fundamentals, not an analyst target.
What is the Forrester Research Inc stock forecast for 2026?
Our models put fair value at $3.97, about −66% upside versus a price of $11.78 (overvalued). Cautious scenario $3.89, optimistic scenario $4.03. The calculation is refreshed regularly with new filings.
What is the revenue of Forrester Research Inc (FORR)?
Forrester Research Inc reported trailing-twelve-month revenue of about $392M (latest available figure, as of Sep 23, 2026).
What growth is priced into Forrester Research Inc (FORR)?
For today's price to be fair in a discounted-cash-flow model, Forrester Research Inc would have to grow free cash flow by -3.2 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FORR use?
Our models discount Forrester Research Inc at 12.8 %: a base by market capitalisation (micro), damped by beta 1.02, country premium for USA. 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 Forrester Research Inc that is -3.2 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Forrester Research Inc (FORR) delivered so far?
Over the past 5 years revenue at Forrester Research Inc grew -2.4 % a year. The price currently implies -3.2 % 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 Forrester Research Inc (FORR) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Forrester Research Inc (-3.2 % 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 Forrester Research Inc (FORR)?
The free-cash-flow yield on the price is 8.08 %: that much free cash flow Forrester Research Inc produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Forrester Research Inc (FORR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Forrester Research Inc it is $3.97 per share (as of Sep 23, 2026), against a price of $11.78. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Forrester Research Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FORR trades above its calculated fair value: price $11.78, fair value $3.97, a gap of about −66% (overvalued). 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 FORR?
No. The price is what the market pays today ($11.78); the fair value is what the company's own numbers justify ($3.97). For Forrester Research Inc the two are $7.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is Forrester Research Inc worth?
The market values Forrester Research Inc at about $224M (market capitalisation, as of Sep 23, 2026). Per share that is $11.78; our models calculate a fair value of $3.97 per share.
What do the bullish and bearish scenarios say about FORR?
Our models span a range for Forrester Research Inc: cautious scenario $3.89, base $3.97, optimistic $4.03 per share (as of Sep 23, 2026, price $11.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of FORR?
The PEG ratio of Forrester Research Inc is 0.76 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Forrester Research Inc (FORR)?
Balance-sheet figures for Forrester Research Inc (as of Sep 23, 2026): return on equity −42.5%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is FORR from its 52-week high?
Forrester Research Inc trades at $11.78, about 7% below its 52-week high of $12.65 and 133% above the low of $5.05 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $3.97 is for.
Which stocks are comparable to Forrester Research Inc?
From the same area (Industrials) we also value Verisk Analytics, Inc, SGS SA, Equifax Inc, Bureau Veritas SA, 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 Forrester Research Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $11.78, calculated fair value $3.97 (−66%), Quality Score 50/100, from 13 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 FORR calculated?
We run Forrester Research Inc through 13 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 $3.97, 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 13.0 % above its aggregate fair value. Forrester Research Inc itself currently trades above fair value. 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 Forrester Research Inc (FORR)?
The closing price on Sep 23, 2026 was $11.78. Our model-based fair value is $3.97, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Forrester Research Inc right now?
The price sits above even our optimistic bull case ($4.03). The favourable scenario is already priced in. Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band ($3.89 to $4.03), unusually little disagreement for a valuation.

Key figures of Forrester Research Inc

How large is the market capitalisation of Forrester Research Inc (FORR)?
The market capitalisation of Forrester Research Inc is $224M. 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 Forrester Research Inc (FORR)?
The price-to-sales ratio of Forrester Research Inc is 0.33 (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 Forrester Research Inc (FORR)?
Earnings per share at Forrester Research Inc are $−2.80. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Forrester Research Inc (FORR)?
The net margin of Forrester Research Inc is −30.1% (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 Forrester Research Inc (FORR)?
The return on equity (ROE) of Forrester Research Inc is −42.5% (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 Forrester Research Inc (FORR)?
On an EBIT basis the return on assets of Forrester Research Inc is 2.6% (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 Forrester Research Inc (FORR)?
The operating margin of Forrester Research Inc is −6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Forrester Research Inc (FORR)?
Revenue at Forrester Research Inc is growing −4.9% versus a year earlier (3y avg −9.6%). 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 Forrester Research Inc (FORR)?
Earnings per share at Forrester Research Inc are growing −39.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Forrester Research Inc (FORR) carry?
The net debt of Forrester Research Inc is $8.6M (fiscal year 2025, ≈ 0.5 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 Forrester Research Inc in the live analysis

One click puts Forrester Research Inc 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.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.