Forensic Analysis · Professional & Commercial Services · as of Aug 2, 2026

Forrester Research, Inc. (FORR)

A forensic read on Forrester Research, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Distress

Financial health

-1.4

Altman Z-score

Clean

Earnings quality

Forensic signals

-94.3%

ROE

-8.2%

Revenue growth

Financial health / Altman Z-score above is based on book value, not market value — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Forrester Research, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -1.4, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-65.9%

FY2025

Return on invested capital. Return on invested capital is -65.9% in the latest fiscal year and slipping from 10% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

3% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 3% of revenue and 68% of free cash flow in FY2025 — about $0.64 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.

-0.3%/yr

FY2022–FY2025

Share count. Diluted share count changed -1% over the last 3 years to FY2025 (-0.3%/yr). Roughly flat — buybacks ($3M) are about offsetting stock comp ($12M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

$111M

FY2025–FY2025

Goodwill impairments. Took $111M of goodwill writedowns across 1 year (FY2025 ($111M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$396.9M

Revenue Growth YoY-8.2%

Revenue CAGR (3yr)-9.6%

Net Margin-30.1%

Free Cash Flow$18.1M

Return on Equity-94.3%

Debt / Equity0.28x

Go deeper — free with an account

The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Forrester Research, Inc.:

🔒The written investment read — what the numbers mean, in plain English

🔒Ask anything about FORR's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks

🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress

🔒Calibrated 12-month price forecast, with the math shown

🔒Peer comparison + filing-change monitoring & alerts

Open the full interactive analysis of FORR — free →

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Data from SEC EDGAR public filings · metrics as of Aug 2, 2026. Forensic signals flag probability, not certainty.