Tearsheet

Forrester Research (FORR)


Market Price (6/22/2026): $6.71 | Market Cap: $128.0 MilSector: Industrials | Industry: Research & Consulting Services

Forrester Research (FORR)


Market Price (6/22/2026): $6.71
Market Cap: $128.0 Mil
Sector: Industrials
Industry: Research & Consulting Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -65%

Attractive yield
FCF Yield is 8.9%

Megatrend and thematic drivers
Megatrends include Cybersecurity, Cloud Computing, and E-commerce & Digital Retail. Themes include Cloud Security, Show more.

Weak multi-year price returns
2Y Excs Rtn is -97%, 3Y Excs Rtn is -150%

Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.15

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.3%, Rev Chg QQuarterly Revenue Change % is -4.9%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46%

Key risks
FORR key risks include [1] failing to effectively execute its new generative AI strategy and [2] the potential for GenAI tools to disintermediate its core proprietary research business.

0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -65%
1 Attractive yield
FCF Yield is 8.9%
2 Megatrend and thematic drivers
Megatrends include Cybersecurity, Cloud Computing, and E-commerce & Digital Retail. Themes include Cloud Security, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -97%, 3Y Excs Rtn is -150%
4 Meaningful short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.15
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -0.6 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.3%, Rev Chg QQuarterly Revenue Change % is -4.9%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -46%
8 Key risks
FORR key risks include [1] failing to effectively execute its new generative AI strategy and [2] the potential for GenAI tools to disintermediate its core proprietary research business.

FORR in ETFs

Weight = FORR's share of each fund

VTI0.00%
IWM0.00%
IWN0.00%
DFAS0.00%
VTWO0.00%
ONEQ0.00%
SCHA0.00%
IWV0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/3/2026

Forrester Research (FORR) stock has gained about 10% since 2/28/2026 because of the following key factors:

1. Revenue outperformance and raised full-year guidance. Forrester Research reported first-quarter 2026 revenue of $85.5 million, exceeding analyst expectations ranging from $80.96 million to $83.28 million. This revenue performance, despite representing a 5% year-over-year decline, led the company to increase the low-to-midpoint range of its full-year 2026 revenue guidance to $350 million-$360 million.

2. Improving client retention and contract value trends. The company demonstrated improved client retention rates, which rose to 78%, marking a 5 percentage point increase year-over-year. Wallet retention also improved by 3 points from the previous year, reaching 89%. Furthermore, the decline in contract value (CV) slowed to 3% in Q1 2026, an improvement from a 6% decline in the prior quarter, and multi-year deals now constitute 72% of total CV.

Show more
Updated on 6/3/2026

Forrester Research (FORR) stock has gained about 10% since 2/28/2026 because of the following key factors:

1. Revenue outperformance and raised full-year guidance. Forrester Research reported first-quarter 2026 revenue of $85.5 million, exceeding analyst expectations ranging from $80.96 million to $83.28 million. This revenue performance, despite representing a 5% year-over-year decline, led the company to increase the low-to-midpoint range of its full-year 2026 revenue guidance to $350 million-$360 million.

2. Improving client retention and contract value trends. The company demonstrated improved client retention rates, which rose to 78%, marking a 5 percentage point increase year-over-year. Wallet retention also improved by 3 points from the previous year, reaching 89%. Furthermore, the decline in contract value (CV) slowed to 3% in Q1 2026, an improvement from a 6% decline in the prior quarter, and multi-year deals now constitute 72% of total CV.

3. Accelerated AI strategy and product enhancements. Forrester Research showcased an aggressive push into artificial intelligence, with usage of Forrester AI increasing by 55% and prompt volume rising by 65%. Significant advancements include an upgraded Forrester AI model and new integrations with Microsoft Teams and Copilot, designed to embed research-driven insights into client workflows. This strategic focus also involves exiting certain lower-margin consulting services to prioritize AI-focused research.

4. Strong free cash flow generation. Despite recording an adjusted operating margin that turned negative at -1.0% in Q1 2026, Forrester Research generated a robust free cash flow of $19.4 million during the quarter. This demonstrated the company's operational cash generation capabilities amidst ongoing strategic transitions and profitability pressures.

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Stock Movement Drivers

Fundamental Drivers

The 12.0% change in FORR stock from 2/28/2026 to 6/21/2026 was primarily driven by a 15.0% change in the company's P/S Multiple.
(LTM values as of)22820266212026Change
Stock Price ($)5.986.7012.0%
Change Contribution By: 
Total Revenues ($ Mil)404392-2.8%
P/S Multiple0.30.315.0%
Shares Outstanding (Mil)19190.2%
Cumulative Contribution12.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/21/2026
ReturnCorrelation
FORR12.0% 
Market (SPY)9.2%7.3%
Sector (XLI)2.4%-21.3%

Fundamental Drivers

The -6.8% change in FORR stock from 11/30/2025 to 6/21/2026 was primarily driven by a -4.3% change in the company's P/S Multiple.
(LTM values as of)113020256212026Change
Stock Price ($)7.196.70-6.8%
Change Contribution By: 
Total Revenues ($ Mil)404392-2.8%
P/S Multiple0.30.3-4.3%
Shares Outstanding (Mil)19190.2%
Cumulative Contribution-6.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/21/2026
ReturnCorrelation
FORR-6.8% 
Market (SPY)9.9%11.7%
Sector (XLI)18.4%-10.3%

Fundamental Drivers

The -37.0% change in FORR stock from 5/31/2025 to 6/21/2026 was primarily driven by a -31.5% change in the company's P/S Multiple.
(LTM values as of)53120256212026Change
Stock Price ($)10.636.70-37.0%
Change Contribution By: 
Total Revenues ($ Mil)422392-7.1%
P/S Multiple0.50.3-31.5%
Shares Outstanding (Mil)1919-0.9%
Cumulative Contribution-37.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/21/2026
ReturnCorrelation
FORR-37.0% 
Market (SPY)28.1%12.1%
Sector (XLI)28.4%2.1%

Fundamental Drivers

The -76.7% change in FORR stock from 5/31/2023 to 6/21/2026 was primarily driven by a -68.7% change in the company's P/S Multiple.
(LTM values as of)53120236212026Change
Stock Price ($)28.706.70-76.7%
Change Contribution By: 
Total Revenues ($ Mil)526392-25.5%
P/S Multiple1.00.3-68.7%
Shares Outstanding (Mil)19190.2%
Cumulative Contribution-76.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/21/2026
ReturnCorrelation
FORR-76.7% 
Market (SPY)85.7%20.9%
Sector (XLI)95.3%20.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FORR Return40%-39%-25%-42%-48%-18%-84%
Peers Return48%-11%28%18%-11%-37%11%
S&P 500 Return27%-19%24%23%16%8%98%

Monthly Win Rates [3]
FORR Win Rate75%25%42%25%42%33% 
Peers Win Rate67%43%63%60%43%23% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
FORR Max Drawdown-14%-44%-42%-46%-58%-39% 
Peers Max Drawdown-13%-32%-18%-18%-38%-45% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IT, HCKT, ACN, IBM, CTSH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)

How Low Can It Go

EventFORRS&P 500
2020 COVID-19 Crash
  % Loss-45.9%-33.7%
  % Gain to Breakeven84.8%50.9%
  Time to Breakeven242 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-15.8%-19.2%
  % Gain to Breakeven18.8%23.8%
  Time to Breakeven25 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-11.8%-3.7%
  % Gain to Breakeven13.3%3.9%
  Time to Breakeven49 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-14.5%-12.2%
  % Gain to Breakeven17.0%13.9%
  Time to Breakeven16 days62 days
2014-2016 Oil Price Collapse
  % Loss-28.1%-6.8%
  % Gain to Breakeven39.1%7.3%
  Time to Breakeven148 days15 days
2008-2009 Global Financial Crisis
  % Loss-41.2%-53.4%
  % Gain to Breakeven70.2%114.4%
  Time to Breakeven311 days1085 days

Compare to IT, HCKT, ACN, IBM, CTSH

In The Past

Forrester Research's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventFORRS&P 500
2020 COVID-19 Crash
  % Loss-45.9%-33.7%
  % Gain to Breakeven84.8%50.9%
  Time to Breakeven242 days140 days
2014-2016 Oil Price Collapse
  % Loss-28.1%-6.8%
  % Gain to Breakeven39.1%7.3%
  Time to Breakeven148 days15 days
2008-2009 Global Financial Crisis
  % Loss-41.2%-53.4%
  % Gain to Breakeven70.2%114.4%
  Time to Breakeven311 days1085 days
Summer 2007 Credit Crunch
  % Loss-21.0%-8.6%
  % Gain to Breakeven26.6%9.5%
  Time to Breakeven80 days47 days

Compare to IT, HCKT, ACN, IBM, CTSH

In The Past

Forrester Research's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Forrester Research (FORR)

Forrester Research, Inc. (FORR) is an independent research and advisory services company dedicated to helping business and technology leaders achieve growth, primarily through a focus on customer obsession. The company provides critical insights, data, and strategic guidance to its clients, operating across three core segments: Research, Consulting, and Events.

Its Research segment offers subscription-based services like Forrester Research and Forrester Decisions, delivering future trends, market forecasts, deep consumer and business buyer data, best practice models, benchmarking, and vendor evaluations online. The Consulting segment provides project-based services, including maturity assessments, strategy development, technology vendor selection, and organizational structuring, helping clients implement best practices and solve specific business challenges.

Beyond research and consulting, Forrester Research also hosts a variety of in-person and virtual Events. These events cover crucial topics such as B2B marketing, sales leadership, customer experience, security and risk, and data strategies. The company serves business and technology leaders globally across various industries, selling its products and services through a direct sales force in North America, Europe, Asia Pacific, and internationally.

AI Analysis | Feedback

Here are a couple of analogies for Forrester Research:

  • S&P Global for business and technology strategy.
  • Consumer Reports for business technology and strategy.

AI Analysis | Feedback

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  • Research Subscriptions: Provides business and technology leaders with access to future trends, market forecasts, buyer data, best practice models, and vendor evaluations through online platforms.
  • Consulting Services: Offers project-based engagements and advisory services to help clients with strategy development, technology selection, organizational structuring, and marketing/sales effectiveness.
  • Events: Hosts in-person and virtual conferences and forums covering topics such as B2B marketing, customer experience, security, and technology innovation for industry leaders.
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George F. Colony, Founder, Chairman, and Chief Executive Officer

George F. Colony founded Forrester Research in his basement in Cambridge, Massachusetts, in 1983 and has since built it into a successful global research and advisory firm. He graduated from Harvard University in 1973. Colony is recognized as one of the most influential thought leaders in business and technology, providing advice to executives of Fortune 100 and Fortune 500 organizations. He is the largest individual shareholder of Forrester, owning approximately 38.85% of the company's shares.

L. Christian Finn, Chief Financial Officer

Chris Finn serves as Forrester's Chief Financial Officer, responsible for all finance functions, including accounting, tax, treasury, investor relations, and corporate strategy. He brings over 25 years of financial and operational experience to the role, having been appointed CFO on September 13, 2021. Prior to joining Forrester, Finn was the Vice President of Finance at LogMeIn, where he led financial planning and analysis and global procurement, helping to scale the company's revenues from $250 million to over $1 billion. He also served as CFO of the $1 billion healthcare division at Nuance and held leadership positions in finance at Progress Software, First Wind, and Monster Worldwide. Finn holds a BBA from the University of Miami and an MBA from Boston University's Questrom School of Business.

Carrie Johnson, Chief Product Officer

Carrie Johnson leads Forrester's product portfolio, which includes research, consulting, and event products, and is responsible for product management and digital strategy. She previously held the role of Chief Research Officer at Forrester and has served in various research positions within the company for over 20 years, including SVP, Research and Group Director. As an analyst, Johnson focused on the dynamics of online retailing, consumer eCommerce adoption, and multichannel behavior. Before her tenure at Forrester, she worked at the Harvard Business School, where she authored case studies. Johnson is a magna cum laude graduate of Bowdoin College.

Sharyn Leaver, Chief Research Officer

Sharyn Leaver leads Forrester's global research organization, overseeing the analyst, executive partner, and analytics teams responsible for creating powerful ideas and objective content for clients.

Michael Facemire, Chief Technology Officer

Michael Facemire serves as Forrester's Chief Technology Officer, guiding the strategic vision and execution of the company's technological initiatives.

AI Analysis | Feedback

Here are the key risks to Forrester Research (FORR):
  1. Declining Subscription Renewal Rates and Client Attrition: Forrester Research faces a significant risk from declining subscription renewal rates and client attrition, which directly impacts its core revenue streams. The company reported a 14% year-over-year drop in client count in Q1 2025, primarily due to the loss of smaller vendor clients. Total revenues declined in both 2024 and Q1 2025, with projections indicating a potential revenue decrease of 4.0% to 7.5% for the entirety of 2025 compared to 2024. This trend is also reflected in a 7% decrease in contract value year-over-year in Q1 2025. The company's success is highly dependent on ongoing demand for its subscription-based research services and maintaining high renewal rates, making any decline in these areas a material financial risk.
  2. Vulnerability to Economic Downturns and Macroeconomic Pressures: Economic downturns and prevailing macroeconomic pressures pose a substantial risk to Forrester Research, as they directly influence client spending on discretionary research, consulting projects, and event attendance. The company's sales and earnings have been pressured by macro factors, leading to client spending cuts. For example, the events segment experienced a sharp 42% decline in revenue in Q4 2024, indicating clients are pulling back on non-essential expenditures. This economic uncertainty is a key factor impacting the company's contract value and overall financial performance.
  3. Intense and Evolving Competitive Landscape, including Potential AI Disintermediation: Forrester operates in a robust and intensifying competitive landscape, facing direct competition from established research and advisory firms like Gartner and IDC, as well as emerging niche players. This competition can lead to pricing pressure and loss of market share. Furthermore, the rapid advancement and integration of Artificial Intelligence (AI) and machine learning present a potential long-term disintermediation risk. While Forrester is investing in AI capabilities and integrating AI research into its services, AI could automate a significant portion of data analysis and insight generation, potentially enabling clients to fulfill their research needs internally or through alternative, more efficient AI-driven solutions, thereby reducing reliance on traditional research and advisory services.

AI Analysis | Feedback

The rapid development and adoption of advanced AI and large language models (LLMs) represent a clear emerging threat. These AI platforms can synthesize vast amounts of data, generate sophisticated market analyses, develop strategic recommendations, and perform vendor evaluations. This capability enables businesses to internally generate or access real-time, customized insights and advisory services more quickly and at a potentially lower cost than traditional subscription research and human-led consulting models, directly challenging Forrester's core Research and Consulting segments.

AI Analysis | Feedback

Forrester Research (symbol: FORR) operates within three main segments: Research, Consulting, and Events. The addressable markets for these services are sized as follows:

  • Consulting: The global IT consulting services market was approximately USD 78.03 billion in 2024 and is projected to reach around USD 129.15 billion by 2034. Other estimates place the global IT consulting services market size at USD 69.59 billion in 2025, expected to rise to USD 106.58 billion by 2034. Additionally, the global IT consulting market size is projected to grow from $111.95 billion in 2025 to $209.99 billion in 2030.
  • Events: The global corporate events market was valued at $325 billion in 2023 and is expected to grow to nearly $600 billion by 2029. Other estimates indicate the corporate events market was valued at USD 360.8 billion in 2024 and is projected to grow from USD 386.75 billion in 2025 to reach USD 548.26 billion by 2030.
  • Research: The global market research services market size grew from $93.37 billion in 2025 to $96.77 billion in 2026, and is expected to reach $116.02 billion in 2030.

AI Analysis | Feedback

Forrester Research (FORR) is focusing on several key drivers to stimulate future revenue growth over the next two to three years, primarily centered on its core research business and strategic initiatives.

The expected drivers of future revenue growth for Forrester Research include:

  • Growth in AI-powered research and product offerings: Forrester is making a decisive move towards AI-driven research and product offerings, with initiatives like "AI Access" being a significant driver. Since its September debut, AI Access has generated over $5 million in bookings, and unique users of Forrester AI increased by 55% year-over-year in Q4 2025, with prompts up 65%. The company views AI as a transformative opportunity to enhance the value of its research, making it more accessible and enabling clients to create new content from Forrester's data and models.
  • Enhanced client retention and expansion within the core research business: A strategic focus for Forrester is to increase retention rates and drive growth within both existing and new client accounts. The full migration of its research products to the "Forrester Decisions" platform, which captured 80% of contract value by the end of 2024, is aimed at boosting primary offerings and client benefits, thereby leading to higher renewal rates. Client retention improved to 87% by the end of 2025, and client count increased in Q4 2025, marking the first quarterly increase in this metric since Q4 2021.
  • Improved go-to-market execution and sales efficiency: Forrester is refining its go-to-market execution and strengthening its sales strategies to accelerate a return to contract value growth. The company has appointed a Chief Sales Officer with a focus on cultivating a "culture of growth within sales" and improving go-to-market execution.

AI Analysis | Feedback

Share Repurchases

  • Forrester Research had over $77 million of its stock repurchase authorization intact as of Q4 2025.
  • The company did not repurchase any shares in the fourth quarter of 2025.
  • As of March 2026, the 2025 Annual Report referenced possible future share repurchases, but no specific commitments or amounts were disclosed for the upcoming year.

Share Issuance

  • As of March 6, 2026, Forrester had 19,176,000 shares of common stock outstanding.
  • The company's market capitalization has experienced a compound annual growth rate (CAGR) of -32.80% over the past five years, indicating a decrease in market cap.

Outbound Investments

  • In 2025, Forrester launched an AI-based product called AI Access, which generated over $5 million in bookings.
  • The company plans to utilize a portion of its cost savings in 2026 to fund focused investments in AI to capitalize on growth opportunities.

Capital Expenditures

  • Capital expenditure for the full year 2025 was $3 million.
  • Management believes Forrester has adequate cash and cash flows to satisfy capital expenditure needs, including planned renovations of its Cambridge, MA office.
  • Ongoing investment in office space and service enhancements is highlighted as a positive signal supporting valuation stability.

Better Bets vs. Forrester Research (FORR)

Latest Trefis Analyses

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FORRITHCKTACNIBMCTSHMedian
NameForreste.Gartner Hackett AccentureInternat.Cognizan. 
Mkt Price6.70127.4910.40127.98249.1043.7085.59
Mkt Cap0.18.90.378.4233.820.814.9
Rev LTM3926,47429773,10168,91221,40613,940
Op Inc LTM-11,2083311,51512,9463,3792,293
FCF LTM111,2582212,58212,2582,4701,864
FCF 3Y Avg121,2793510,49812,2692,0011,640
CFO LTM201,3683113,18213,9922,7572,062
CFO 3Y Avg171,3864111,09413,9882,2941,840

Growth & Margins

FORRITHCKTACNIBMCTSHMedian
NameForreste.Gartner Hackett AccentureInternat.Cognizan. 
Rev Chg LTM-7.1%2.3%-5.7%6.7%9.7%6.5%4.4%
Rev Chg 3Y Avg-9.3%4.8%0.9%4.8%4.5%3.4%3.9%
Rev Chg Q-4.9%-1.5%-11.6%5.6%9.5%5.8%2.0%
QoQ Delta Rev Chg LTM-1.1%-0.4%-3.0%1.4%2.0%1.4%0.5%
Op Inc Chg LTM-104.6%4.0%-11.6%8.3%26.0%9.0%6.1%
Op Inc Chg 3Y Avg-57.6%1.4%-13.7%5.7%15.6%4.8%3.1%
Op Mgn LTM-0.2%18.7%11.2%15.8%18.8%15.8%15.8%
Op Mgn 3Y Avg2.5%18.6%13.3%15.6%16.8%15.5%15.5%
QoQ Delta Op Mgn LTM-0.7%0.6%2.5%0.1%0.3%0.0%0.2%
CFO/Rev LTM5.1%21.1%10.5%18.0%20.3%12.9%15.5%
CFO/Rev 3Y Avg4.2%22.1%13.5%16.1%21.7%11.3%14.8%
FCF/Rev LTM2.9%19.4%7.5%17.2%17.8%11.5%14.4%
FCF/Rev 3Y Avg2.9%20.4%11.5%15.2%19.0%9.8%13.4%

Valuation

FORRITHCKTACNIBMCTSHMedian
NameForreste.Gartner Hackett AccentureInternat.Cognizan. 
Mkt Cap0.18.90.378.4233.820.814.9
P/S0.31.40.91.13.41.01.0
P/Op Inc-200.67.47.96.818.16.27.1
P/EBIT-2.77.99.37.218.75.97.5
P/E-2.412.018.610.121.79.411.0
P/CFO6.46.58.45.916.77.67.0
Total Yield-42.2%8.3%10.3%15.0%7.3%11.4%9.3%
Dividend Yield0.0%0.0%4.9%5.0%2.7%0.7%1.7%
FCF Yield 3Y Avg7.6%6.3%6.1%6.5%5.9%6.0%6.2%
D/E0.50.40.30.10.30.10.3
Net D/E-0.70.20.3-0.00.2-0.00.1

Returns

FORRITHCKTACNIBMCTSHMedian
NameForreste.Gartner Hackett AccentureInternat.Cognizan. 
1M Rtn-0.9%-20.3%-6.4%-28.6%-1.9%-17.2%-11.8%
3M Rtn12.4%-21.0%-21.1%-35.5%3.8%-29.1%-21.1%
6M Rtn-9.6%-49.2%-47.1%-52.3%-16.2%-48.2%-47.6%
12M Rtn-29.8%-67.6%-54.8%-54.0%-9.1%-40.9%-47.4%
3Y Rtn-77.6%-63.1%-49.4%-55.8%109.2%-26.4%-52.6%
1M Excs Rtn-2.7%-19.3%6.0%-29.6%10.0%-16.1%-9.4%
3M Excs Rtn-2.2%-33.5%-35.9%-50.1%-13.3%-42.0%-34.7%
6M Excs Rtn-17.5%-58.8%-58.9%-62.6%-27.1%-57.4%-58.1%
12M Excs Rtn-56.9%-93.9%-81.0%-83.3%-35.1%-69.4%-75.2%
3Y Excs Rtn-149.6%-135.7%-118.6%-128.6%27.7%-100.0%-123.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Research Segment318338363396373
Consulting Segment667689111109
Events Segment1318283113
Total397432481538494


Operating Income by Segment
$ Mil2025202420232015
Research Segment214222238-9
Consulting Segment283644 
Events Segment-6-18 
Amortization of intangible assets-9-10-12 
Restructuring and related costs-12-12-13 
Goodwill impairment-111   
Selling, marketing, administrative and other expenses-218-233-258 
Loss from sale of divested operation -2  
Other   -177
Products   189
Project Consulting   16
Total-1131719


Price Behavior

Price Behavior
Market Price$6.70 
Market Cap ($ Bil)0.1 
First Trading Date11/27/1996 
Distance from 52W High-40.3% 
   50 Days200 Days
DMA Price$6.47$7.38
DMA Trenddownup
Distance from DMA3.6%-9.2%
 3M1YR
Volatility45.0%51.7%
Downside Capture-8.9249.26
Upside Capture34.28-5.96
Correlation (SPY)7.6%10.7%
FORR Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-0.95-0.390.130.430.510.60
Up Beta0.200.190.140.840.950.62
Down Beta-0.98-1.810.151.230.920.39
Up Capture18%45%41%-2%-7%10%
Bmk +ve Days13283667141432
Stock +ve Days12233468120352
Down Capture-378%-299%-30%4%61%102%
Bmk -ve Days7132757109318
Stock -ve Days8182953119381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FORR
FORR-33.9%51.4%-0.63-
Sector ETF (XLI)28.7%16.2%1.381.4%
Equity (SPY)26.5%12.4%1.6111.4%
Gold (GLD)24.2%27.5%0.77-8.8%
Commodities (DBC)19.8%18.8%0.83-7.3%
Real Estate (VNQ)11.0%13.7%0.5215.0%
Bitcoin (BTCUSD)-40.0%42.4%-1.087.2%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FORR
FORR-30.9%40.5%-0.80-
Sector ETF (XLI)13.5%17.5%0.6128.9%
Equity (SPY)13.5%17.1%0.6229.9%
Gold (GLD)17.1%18.3%0.76-2.3%
Commodities (DBC)7.5%19.4%0.294.2%
Real Estate (VNQ)1.9%18.9%0.0031.0%
Bitcoin (BTCUSD)11.0%54.2%0.4012.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FORR
FORR-15.8%39.8%-0.30-
Sector ETF (XLI)14.2%20.0%0.6242.7%
Equity (SPY)15.3%18.0%0.7341.9%
Gold (GLD)12.3%16.1%0.63-1.7%
Commodities (DBC)5.9%18.0%0.2614.7%
Real Estate (VNQ)5.3%20.7%0.2238.7%
Bitcoin (BTCUSD)60.0%66.8%1.0011.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity1.2 Mil
Short Interest: % Change Since 5152026-11.3%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest12.2 days
Basic Shares Quantity19.1 Mil
Short % of Basic Shares6.1%

Earnings Returns History

Updated 6/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/20267.2%3.3%14.9%
2/12/2026-9.7%-1.1%0.6%
10/30/2025-12.9%-8.2%-15.1%
7/31/202512.3%4.3%0.0%
5/6/20254.5%4.6%4.4%
2/11/2025-12.1%-17.2%-36.1%
11/5/20247.0%14.2%13.0%
7/30/20244.1%-5.5%-1.6%
...
SUMMARY STATS   
# Positive111111
# Negative131313
Median Positive4.7%4.6%4.4%
Median Negative-8.2%-8.2%-7.0%
Max Positive12.3%14.2%14.9%
Max Negative-14.0%-17.2%-36.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/6/20267.2%3.3%14.9%
2/12/2026-9.7%-1.1%0.6%
10/30/2025-12.9%-8.2%-15.1%
7/31/202512.3%4.3%0.0%
5/6/20254.5%4.6%4.4%
2/11/2025-12.1%-17.2%-36.1%
11/5/20247.0%14.2%13.0%
7/30/20244.1%-5.5%-1.6%
4/30/2024-3.2%5.2%1.2%
2/8/2024-7.3%-9.8%-13.6%
10/26/2023-5.3%-13.5%-4.0%
7/27/20232.5%3.8%0.4%
5/4/2023-13.6%-13.8%-0.5%
2/9/2023-14.0%-4.2%-14.4%
11/2/2022-12.9%-16.7%-11.2%
7/28/2022-8.2%-13.0%-17.5%
5/5/20222.7%-5.1%-3.7%
2/10/2022-0.7%1.2%-0.7%
11/3/20214.7%9.7%4.7%
7/28/20218.0%0.8%2.6%
5/5/20211.2%-3.5%-7.0%
2/11/2021-2.7%-4.2%-0.5%
10/29/2020-2.5%4.8%9.3%
7/30/20206.6%8.7%9.4%
SUMMARY STATS   
# Positive111111
# Negative131313
Median Positive4.7%4.6%4.4%
Median Negative-8.2%-8.2%-7.0%
Max Positive12.3%14.2%14.9%
Max Negative-14.0%-17.2%-36.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202503/13/202610-K
09/30/202511/10/202510-Q
06/30/202508/05/202510-Q
03/31/202505/12/202510-Q
12/31/202403/07/202510-K
09/30/202411/08/202410-Q
06/30/202408/05/202410-Q
03/31/202405/03/202410-Q
12/31/202303/08/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/10/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202503/13/202610-K
09/30/202511/10/202510-Q
06/30/202508/05/202510-Q
03/31/202505/12/202510-Q
12/31/202403/07/202510-K
09/30/202411/08/202410-Q
06/30/202408/05/202410-Q
03/31/202405/03/202410-Q
12/31/202303/08/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/10/202310-K
09/30/202211/04/202210-Q
06/30/202208/05/202210-Q
03/31/202205/06/202210-Q
12/31/202103/10/202210-K
09/30/202111/05/202110-Q
06/30/202108/06/202110-Q
03/31/202105/06/202110-Q
12/31/202003/11/202110-K
09/30/202011/06/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/13/202010-K
09/30/201911/08/201910-Q
06/30/201908/06/201910-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue350.00 Mil355.00 Mil360.00 Mil0.7% RaisedGuidance: 352.50 Mil for 2026
2026 Operating Margin-3.3%-3.05%-2.8%454.5%-2.5%LoweredGuidance: -0.55% for 2026
2026 Adjusted Operating Margin6.0%6.25%6.5%00AffirmedGuidance: 6.25% for 2026
2026 Adjusted Diluted Earnings Per Share0.720.770.820 AffirmedGuidance: 0.77 for 2026
2026 Diluted Loss Per Share-0.73-0.68-0.63353.3% LoweredGuidance: -0.15 for 2026

Prior: Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Revenue345.00 Mil352.50 Mil360.00 Mil-11.9% LoweredGuidance: 400.00 Mil for 2025
2026 Revenue Growth-13.0%-11.0%-9.0%   
2026 Operating Margin-0.8%-0.55%-0.3%97.1%18.2%RaisedGuidance: -18.8% for 2025
2026 Adjusted Operating Margin6.0%6.25%6.5%-21.9%-1.8%LoweredGuidance: 8.0% for 2025
2026 Adjusted Diluted EPS0.720.770.82-35.8% LoweredGuidance: 1.2 for 2025
2026 Diluted Loss Per Share-0.2-0.15-0.1-96.6% RaisedGuidance: -4.45 for 2025
Core Cache Last Updated: 6/21/2026