Forrester Research, Inc.

FORR

FORRForrester Research, Inc. US flag

NASDAQ Global Select

9.03

USD

-0.94

- -

175.29MMarket Cap

Income Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	283	293	298	312	314	326	338	358	462	449	494	538	481	432	397
+ Sales & Services Revenue	283	293	298	312	314	326	338	358	462	449	494	538	481	432	397
- Cost of Revenue	104	111	117	126	126	128	137	147	197	181	202	224	204	183	171
+ Cost of Goods & Services	104	111	117	126	126	128	137	147	197	181	202	224	204	183	171
Gross Profit	180	182	181	186	187	198	201	211	265	268	292	314	276	250	226
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	143	150	157	166	164	166	173	185	257	246	254	272	256	236	224
+ Selling, General & Admin	135	138	145	154	155	157	166	176	226	217	229	250	236	218	202
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	8	11	11	11	9	9	7	9	31	30	25	22	20	17	22
Operating Income (Loss)	37	32	24	20	23	32	28	26	8	22	39	42	20	14	2
- Non-Operating (Income) Loss	- -	- -	4	2	4	1	- -	3	17	9	6	11	14	12	121
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	8	5	4	2	3	3	3
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	8	5	4	2	3	3	3
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	4	2	4	1	- -	3	9	4	2	9	11	9	119
Pretax Income	37	32	20	18	19	31	27	24	-10	13	33	31	6	3	-119
- Income Tax Expense (Benefit)	15	6	7	8	7	13	12	8	- -	3	8	9	3	8	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	22	26	13	11	12	18	15	15	-10	10	25	22	3	-6	-119
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	22	26	13	11	12	18	15	15	-10	10	25	22	3	-6	-119
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	22	26	13	11	12	18	15	15	-10	10	25	22	3	-6	-119
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	22	26	13	11	12	18	15	15	-10	10	25	22	3	-6	-119
EBIT	37	32	24	20	23	32	28	26	8	22	39	42	20	14	2
EBITDA	45	44	35	32	33	40	35	35	52	65	75	79	52	44	23
EBITDA Margin (%)	15.89	14.86	11.84	10.1	10.36	12.4	10.36	9.88	11.19	14.46	15.15	14.68	10.84	10.28	5.9
EBITA	37	32	24	20	23	32	28	26	8	22	39	42	20	14	2
Gross Margin (%)	63.45	62.04	60.67	59.56	59.75	60.69	59.47	59.03	57.39	59.71	59.17	58.39	57.47	57.79	56.99
Operating Margin (%)	13.09	10.98	7.98	6.42	7.41	9.75	8.16	7.33	1.71	4.89	7.88	7.81	4.17	3.3	0.49
Profit Margin (%)	7.76	8.97	4.38	3.48	3.82	5.41	4.48	4.3	-2.07	2.23	5.03	4.05	0.63	-1.33	-30.07
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	0.56	0.59	0.64	0.68	0.72	0.76	0.8	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	8	11	11	11	9	9	7	9	44	43	36	37	32	30	21
Basic Weighted Avg Shares	23	22	21	19	18	18	18	18	18	19	19	19	19	19	19
Basic EPS, GAAP	0.97	1.17	0.62	0.58	0.67	0.98	0.84	0.85	-0.52	0.53	1.3	1.15	0.16	-0.3	-6.28
Basic EPS from Cont Ops	0.97	1.17	0.62	0.58	0.67	0.98	0.84	0.85	-0.52	0.53	1.3	1.15	0.16	-0.3	-6.28
Diluted Weighted Avg Shares	23	23	21	19	18	18	18	18	18	19	19	19	19	19	19
Diluted EPS, GAAP	0.95	1.15	0.61	0.57	0.66	0.97	0.83	0.84	-0.52	0.53	1.28	1.14	0.16	-0.3	-6.28
Diluted EPS from Cont Ops	0.95	1.15	0.61	0.57	0.66	0.97	0.83	0.84	-0.52	0.53	1.28	1.14	0.16	-0.3	-6.28

Balance Sheet (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	337	337	266	208	198	223	237	236	192	217	269	235	216	201	213
+ Cash, Cash Equivalents & STI	218	234	155	105	101	138	134	140	68	90	134	123	124	105	128
+ Cash & Cash Equivalents	81	99	74	50	53	77	80	140	68	90	116	104	73	56	63
+ ST Investments	137	135	81	55	48	61	54	- -	- -	- -	19	20	52	49	64
+ Accounts & Notes Receiv	81	75	78	67	67	59	70	67	85	85	87	73	59	55	51
+ Accounts Receivable, Net	81	75	78	67	67	59	70	67	85	85	87	73	59	55	51
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	38	28	34	36	29	27	33	28	40	42	48	39	33	41	34
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	150	151	136	125	121	112	108	117	447	427	411	373	348	302	191
+ Property, Plant & Equip, Net	50	46	40	32	28	24	25	22	99	96	93	73	59	39	42
+ Property, Plant & Equip	74	74	76	75	76	77	84	85	162	164	163	139	123	101	99
- Accumulated Depreciation	24	28	36	42	49	54	59	63	63	68	70	66	64	62	57
+ LT Investments & Receivables	10	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	10	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	90	96	96	93	94	88	83	95	348	331	317	300	289	264	149
+ Total Intangible Assets	82	87	86	80	76	75	77	90	341	325	308	292	282	255	139
+ Goodwill	72	79	80	77	74	73	76	85	244	247	245	242	244	228	120
+ Other Intangible Assets	10	8	6	3	2	1	1	5	97	78	63	50	38	27	19
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	8	9	10	12	17	14	6	5	7	6	10	8	7	8	10
Total Assets	488	488	402	333	319	336	345	354	639	644	680	608	564	504	404
+ Payables & Accruals	31	31	34	37	42	43	50	55	68	65	68	60	50	34	40
+ Accounts Payable	1	1	1	1	1	2	- -	1	1	1	1	- -	2	1	1
+ Accrued Taxes	5	4	3	2	3	5	4	3	5	8	5	6	5	2	3
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	25	26	31	34	39	37	46	51	62	56	62	54	43	31	36
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	22	24	13	14	14	13	42
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	9	12	- -	- -	- -	- -	35
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	12	12	13	14	14	13	7
+ Other ST Liabilities	148	150	153	145	141	134	145	135	179	180	232	196	176	157	157
+ Deferred Revenue	148	150	153	145	141	134	145	135	179	180	214	178	157	145	142
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18	18	19	12	16
Total Current Liabilities	179	181	187	182	182	177	195	190	269	270	312	269	240	204	240
+ LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	188	166	140	101	73	60	30
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	121	95	75	50	35	35	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	67	70	65	51	38	25	30
+ Other LT Liabilities	18	9	10	9	9	8	9	12	24	23	24	17	11	11	8
+ Accrued Liabilities	15	7	8	7	7	- -	8	8	23	22	21	14	9	9	6
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2	2	3	3	3	8	1	4	1	2	3	3	2	2	2
Total Noncurrent Liabilities	18	9	10	9	9	8	9	12	212	189	164	117	84	70	37
Total Liabilities	197	191	198	191	192	186	204	202	481	458	476	387	324	274	278
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	374	390	110	125	135	158	182	201	217	230	246	262	278	292	305
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	374	389	110	125	135	158	182	201	216	230	246	262	278	292	304
- Treasury Stock	181	211	26	99	120	122	162	172	172	172	192	207	211	227	230
+ Retained Earnings	105	118	118	117	117	122	123	128	118	128	153	175	178	172	53
+ Other Equity	-7	1	2	-2	-5	-8	-2	-5	-5	-1	-3	-8	-5	-8	-1
Equity Before Minority Interest	291	297	205	142	127	150	141	152	158	186	204	222	240	230	127
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	291	297	205	142	127	150	141	152	158	186	204	222	240	230	127
Total Liabilities & Equity	488	488	402	333	319	336	345	354	639	644	680	608	564	504	404
Shares Outstanding	23	22	20	18	18	18	18	18	19	19	19	19	19	19	19
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	79	82	78	64	52	38	37
Net Debt	-81	-99	-74	-50	-53	-77	-80	-140	63	18	-41	-54	-38	-21	-28
Net Debt to Equity	-27.88	-33.25	-36.22	-35.06	-41.89	-51.29	-56.51	-92.54	39.62	9.44	-19.99	-24.19	-15.78	-9.19	-22.39
Tangible Common Equity Ratio	51.48	52.43	37.57	24.36	20.98	28.87	23.96	23.34	-61.49	-43.71	-27.88	-22.1	-14.75	-10.42	-4.75
Current Ratio	1.88	1.86	1.42	1.14	1.08	1.26	1.21	1.24	0.71	0.81	0.86	0.87	0.9	0.99	0.89
Cash Conversion Cycle	91.23	93.88	90.5	81.98	76.33	67.29	66.93	69.09	59.04	67.64	62.02	53.42	48.31	45.55	46.98

Cash Flow Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	22	26	13	11	12	18	15	15	-10	10	25	22	3	-6	-119
+ Depreciation & Amortization	8	11	11	11	9	9	7	9	44	43	36	37	32	30	21
+ Non-Cash Items	24	-2	7	2	8	12	16	11	10	9	12	10	11	17	127
+ Stock-Based Compensation	4	5	6	7	8	8	8	8	12	11	10	15	15	14	12
+ Deferred Income Taxes	15	-11	-5	-8	-1	3	6	3	-4	-2	- -	-7	-5	- -	-4
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	1	1	1	111
+ Other Non-Cash Adj	5	3	5	2	1	1	1	- -	2	-1	2	- -	- -	2	8
+ Chg in Non-Cash Work Cap	2	18	- -	5	5	7	-1	3	5	-15	34	-29	-24	-45	-8
+ (Inc) Dec in Accts Receiv	-8	7	-3	9	-1	8	-10	3	4	- -	-4	13	15	- -	5
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-8	7	1	1	1	1	-4	- -	-4	- -	-1	4	6	- -	-3
+ Inc (Dec) in Accts Payable	1	- -	4	2	6	1	6	1	5	- -	21	-7	-9	-22	7
+ Inc (Dec) in Other	17	4	-2	-7	-2	-4	7	-2	- -	-15	19	-40	-36	-24	-16
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	55	53	31	29	34	44	37	38	48	48	107	39	22	-4	21
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-40	-5	-3	-2	-4	-4	-8	-5	-12	-9	-11	-6	-5	-3	-3
+ Acq of Fixed Prod Assets	-40	-5	-3	-2	-4	-4	-8	-5	-12	-9	-11	-6	-5	-3	-3
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-7	-30	-118	-73	-21	-2	-40	-10	- -	- -	-20	-15	-4	-16	-3
+ Increase in Capital Stock	12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-18	-30	-118	-73	-21	-2	-40	-10	- -	- -	-20	-15	-4	-16	-3
+ Net Change in LT Investment	-21	- -	60	25	6	-14	7	54	- -	- -	-19	-1	-31	2	-13
+ Dec in LT Investment	93	91	105	60	27	23	38	96	- -	- -	3	27	30	62	21
+ Inc in LT Investment	-114	-91	-45	-35	-21	-37	-32	-42	- -	- -	-22	-29	-61	-59	-33
+ Net Cash From Acq & Div	-8	- -	- -	- -	- -	- -	- -	-9	-238	- -	- -	- -	- -	6	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	- -
+ Cash for Acq of Subs	-8	- -	- -	- -	- -	- -	- -	-9	-238	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	15	1	- -	2	- -	- -	- -	- -	- -	4	- -	- -	- -	- -	2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-53	-4	58	25	3	-18	-1	40	-250	-5	-29	-7	-37	5	-14
+ Dividends Paid	- -	-13	-12	-12	-12	-13	-14	-15	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	- -	- -	- -	- -	- -	- -	- -	- -	129	-23	-34	-25	-15	- -	- -
+ Cash From Debt	- -	- -	- -	- -	- -	- -	- -	- -	171	- -	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	- -	- -	- -	- -	- -	- -	-42	-23	-34	-25	-15	- -	- -
+ Other Financing Activities	1	11	17	9	2	15	16	10	- -	- -	5	1	1	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-6	-32	-113	-76	-31	- -	-38	-14	129	-24	-49	-39	-18	-16	-3
Effect of Foreign Exchange Rates	-2	- -	- -	-2	-2	-3	4	-4	1	2	-1	-6	3	-2	3
Net Changes in Cash	-4	17	-25	-22	6	26	-1	65	-72	19	29	-6	-33	-15	4
EBITDA	45	44	35	32	33	40	35	35	52	65	75	79	52	44	23
EBITDA Margin (%)	15.89	14.86	11.84	10.1	10.36	12.4	10.36	9.88	11.19	14.46	15.15	14.68	10.84	10.28	5.9
Free Cash Flow	16	48	28	27	30	40	30	33	37	39	96	34	16	-7	18
Net Cash Paid for Acquisitions	8	- -	- -	- -	- -	- -	- -	9	238	- -	- -	- -	- -	-6	- -
Free Cash Flow to Firm	16	48	28	27	30	40	30	33	- -	43	99	36	18	-14	- -
Free Cash Flow to Equity	16	48	28	27	30	40	30	33	166	15	62	9	1	-7	18
Free Cash Flow per Basic Share	0.69	2.14	1.32	1.46	1.68	2.24	1.65	1.84	1.97	2.06	5.04	1.78	0.84	-0.38	0.95
Price/Free Cash Flow	8.26	10.55	24.14	24.69	13.63	16.14	17.78	18.9	12.79	14	9.65	15.21	19	-649.03	6.42
Cash Flow to Net Income	2.52	2.02	2.36	2.65	2.83	2.52	2.48	2.5	-5.06	4.78	4.31	1.81	7.11	0.67	-0.18
Capital Expenditures	-40	-5	-3	-2	-4	-4	-8	-5	-12	-9	-11	-6	-5	-3	-3