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ForgeRock, Inc.
FORG Technology Software Infrastructure
ForgeRock, Inc.’s revenue for fiscal 2022 (year ended December 2022) was $217.5 million. Revenue growth for five consecutive years.
23.21
0.00
0.00%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | Trend | 2023e | 2024e | 2025e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | — | — | — | — |
Analyst estimates 2023–2025 Powerpack |
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| High | — | — | — | — | — | — | — | — | — | — | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 758 | 786 | 923 | ||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.17 | 0.23 | 0.24 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 104 | 128 | 177 | 218 | ||||
| Gross margin, % | — | — | — | — | — | — | 83.70 | 83.29 | 81.39 | 81.82 | |||||
| EBT | — | — | — | — | — | — | (39) | (41) | (47) | (65) | |||||
| EBT margin, % | — | — | — | — | — | — | (37.22) | (32.30) | (26.50) | (29.70) | |||||
| Net income | — | — | — | — | 0 | — | (37) | (42) | (48) | (66) | |||||
| Depreciation | — | — | — | — | — | — | 12 | 15 | 16 | 17 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 4.45 | 5.32 | 4.24 | 2.56 | ||||
| Earnings | — | — | — | — | — | — | (1.57) | (1.74) | (1.14) | (0.78) | |||||
| Cash flow | — | — | — | — | — | — | (2.00) | (1.23) | (0.88) | (0.53) | |||||
| Capex | — | — | — | — | — | — | (0.07) | (0.04) | (0.03) | (0.02) | |||||
| Free cash flow | — | — | — | — | — | — | (2.07) | (1.27) | (0.91) | (0.55) | |||||
| Book value | — | — | — | — | — | — | 0.00 | (7.93) | 8.05 | 3.72 | |||||
| Shares, m | — | — | — | — | — | — | 23 | 24 | 42 | 85 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | — | — | — | — | — | — | 5.85 | 5.85 | 6.30 | 8.71 | |||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 3.31 | 6.00 | |||||
| EV/Sales | — | — | — | — | — | — | 5.55 | 5.55 | 4.44 | 7.36 | |||||
| EV/FCF | — | — | — | — | — | — | (14.49) | (14.49) | (20.73) | (34.34) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (47) | (30) | (37) | (45) | ||||
| Capex | — | — | — | — | — | — | (2) | (1) | (1) | (2) | |||||
| Free cash flow | — | — | — | — | — | — | (49) | (30) | (38) | (47) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 17 | 77 | 363 | 332 | ||||
| Total debt | — | — | — | — | — | — | 30 | 39 | 39 | 40 | |||||
| Net debt | — | — | — | — | — | — | 1 | (61) | (330) | (296) | |||||
| Shareholders’ equity | — | — | — | — | — | — | — | (190) | 336 | 316 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | (49.64) | (14.35) | (13.37) | ||||
| ROIC | — | — | — | — | — | — | (2,885.13) | 0.00 | (305.58) | (210.88) | |||||
| ROE | — | — | — | — | — | — | 21.67 | 24.54 | (65.46) | (20.32) | |||||
Negative figures in brackets.
Fiscal years to Dec 2022 · latest quarter Jun 2023
Charts ten years each
ForgeRock, Inc. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| INFQ Infleqtion, Inc. | $2.1B | — (loss-making) | — | — | n/m | +442.38% (above 0%: growing) | 16.01% | (220.55%) | Compare |
| GCT GigaCloud Technology Inc. | $2.1B | 13.6× | 7.7× | +27.60% (above 0%: growing) | +27.47% (above 0%: growing) | +21.82% (above 0%: growing) | 25.64% | 11.54% | Compare |
| MQ Marqeta, Inc. | $2.0B | 170× | 104× | +17.02% (above 0%: growing) | n/m | +1,068.67% (above 0%: growing) | 69.25% | 2.07% | Compare |
| AI C3.ai, Inc. | $2.0B | — (loss-making) | — (loss-making) | −25.46% (below 0%: shrinking) | n/m | +106.02% (above 0%: growing) | 31.83% | (187.62%) | Compare |
| FORG ForgeRock, Inc. | $2.0B | — (loss-making) | — (loss-making) | +22.25% (above 0%: growing) | n/m | +28.02% (above 0%: growing) | 77.49% | (51.61%) | |
| EVTC Evertec, Inc. | $1.9B | 20.3× | 10.0× | +19.69% (above 0%: growing) | −85.71% (below 0%: shrinking) | +20.64% (above 0%: growing) | 54.79% | 19.39% | Compare |
| ATEN A10 Networks, Inc. | $1.8B | 40.8× | 41.0× | +15.50% (above 0%: growing) | −20.00% (below 0%: shrinking) | +53.34% (above 0%: growing) | 79.09% | 11.26% | Compare |
| NN NextNav Inc. | $1.8B | — (loss-making) | — (loss-making) | −4.33% (below 0%: shrinking) | n/m | −33.14% (below 0%: shrinking) | (78.70%) | (1,760.78%) | Compare |
| NYAX Nayax Ltd. | $1.7B | 209× | 85.0× | +28.25% (above 0%: growing) | n/m | −335.31% (below 0%: shrinking) | 46.86% | (5.42%) | Compare |
| Median of peers | $1.9B | 40.8× | 41.0× | +17.02% | −20.00% | +37.58% | 39.35% | (1.67%) |
ForgeRock, Inc. (FORG) key facts
- ForgeRock, Inc. (FORG) is a Software Infrastructure company in the Technology sector, listed on the New York Stock Exchange.
- ForgeRock, Inc.’s revenue for fiscal 2022 (year ended December 2022) was $217.5 million.
- As of June 12, 2025, FORG traded at $23.21, a market capitalization of $2.0 billion.
- Return on equity was −20.3% and debt-to-equity 0.14.
- Its Piotroski F-score is 4 out of 9 for fiscal 2022.
ForgeRock, Inc. (FORG) Latest News
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