MARKETS / NASDAQ / FORR
NASDAQ · SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT · MID CAP

Forrester Research, Inc. FORR

17 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY6 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$396.9M
▼ 8.2% vs FY2024
Dividend streak
6 yrs
Raised every year since 2020
EPS · FY25
$-6.28
Dividend / sh · FY25
Payout · FY25
ROE · FY25
-67.0%
Net margin · FY25
-30.1%
Dividend coverage
1.0×
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Result
USD 396.9M
Revenue, FY2025 · full 17-year series below
Revenue Net income
0.20.40.60.4-0.12009201220152018202120242025
0.20.40.60.4-0.12016201920222025

The company lost 30 cents on every revenue dollar this year.

Per share
USD -6.28
Diluted EPS, FY2025
EPS Dividend
0.511.5-6.282009201220152018202120242025
0.511.5-6.282016201920222025

Earnings covered the dividend 1.0 times — the rest stayed in the company.

Profitability
-67.0%
Return on equity, FY2025
ROE
481216-67.0%2009201220152018202120242025
481216-67.0%2016201920222025
Operating margin-28.5%
Net margin-30.1%
Return on assets-26.3%

Each USD of equity lost 67 cents this year.

Returned to shareholders
USD 2.5M
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacksUSD 2.5M
Share of profit-2.1%
Consecutive raises6 years

USD 2.5M in buybacks went back to shareholders in a year without profit.

Growth
−2.4% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−9.6%
−2.4%
+2.4%
+3.1%
Dividend / share
+5.6%
+5.9%
Returned to shareholders
−44.8%
−22.6%
−21.2%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
0.02B
Shares outstanding, FY2025
0.020.022009201220152018202120242025
0.020.022016201920222025
Change, 5 years−0.0%
Change, 10 years+7.1%

The share count shrank 0% in five years — the same company, cut into fewer, larger slices.

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Balance sheet
USD 404.0M
total assets, end of FY2025
Total assetsUSD 404.0M
EquityUSD 126.5M
CashUSD 63.3M
Gross debtUSD 35.0M
Net debtUSD -28.3M
Current ratio0.89×

The company holds more cash than debt.

History
17 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue $B
0.4
0.4
0.5
0.5
0.5
0.4
0.5
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.2
Operating income $B
−0.1
0.0
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
EBITDA $B
−0.1
0.0
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Income tax $B
−0.0
0.0
0.0
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net income $B
−0.1
−0.0
0.0
0.0
0.0
0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
EPS, diluted $
−6.28
−0.30
0.16
1.14
1.28
0.53
−0.52
0.84
0.83
0.97
0.66
0.57
0.61
1.15
0.95
0.89
0.82
Dividend / sh $
·
·
·
·
·
·
·
0.80
0.76
0.72
0.68
0.64
0.60
0.56
·
·
·
Payout %
·
·
·
·
·
·
·
94
90
74
102
110
95
48
·
334
·
ROE %
−67.0
−2.4
1.3
10.2
12.8
5.8
−6.2
10.5
10.4
12.7
8.9
6.3
5.2
9.0
7.8
7.0
6.0
Shares out B
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
0.02
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
57 of 57
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed