Forrester Research, Inc. (FORR) vs ICF International, Inc. (ICFI)

Forrester Research, Inc. and ICF International, Inc. are both Consulting Services companies. ICF International, Inc. is the larger, with a market value of $1.6B against $227.2M — 7.0× the size. Forrester Research, Inc. has negative trailing earnings, so its P/E is not meaningful; ICF International, Inc. trades at 18.4×. Forrester Research, Inc. grew revenue faster over the last twelve months: −7.54% against −7.89%. ICF International, Inc. has the higher net margin (4.86% vs −11.2%) and the higher return on invested capital (6.55% vs −115.7%). Across the 21 metrics below, ICF International, Inc. leads on 15 and Forrester Research, Inc. on 6.

Valuation

Metric FORR ICFI Consulting Services median
P/E n/m 18.40 18.40
P/S 0.60 0.88 1.26
P/B 1.88 1.53 2.55
Price to free cash flow 75.23 8.11 11.90
EV/EBITDA 18.49 6.03 11.26
EV/Sales 0.44 1.06 1.53
Earnings yield (19.05%) 5.43% 4.08%
Free cash flow yield 1.33% 12.33% 0.00%

Profitability

Metric FORR ICFI Consulting Services median
Gross margin 57.01% 37.16% 45.06%
Operating margin (12.54%) 7.79% 9.60%
Net margin (11.17%) 4.86% 6.29%
Free cash flow margin 0.80% 10.90% 0.00%
Return on equity (30.28%) 8.64% 0.00%
Return on assets (9.99%) 4.24% 0.00%
Return on invested capital (115.69%) 6.55% 0.00%

Growth

Metric FORR ICFI Consulting Services median
Revenue growth (TTM) (7.54%) (7.89%) (0.96%)
EPS growth (last fiscal year) (1,993.33%) (14.95%) (6.86%)
Revenue growth, 5-year CAGR (2.44%) 4.44% 7.37%
Net income growth, 5-year CAGR 0.00% 10.75% 4.89%

Health

Metric FORR ICFI Consulting Services median
Debt to equity 0.29 0.39 0.00
Current ratio 1.06 1.39 1.72
Net debt to EBITDA (4.88) 1.75 0.23

Dividend

Metric FORR ICFI Consulting Services median
Dividend yield — 0.63% 1.32%
Payout ratio — 0.12 0.30

Size

Metric FORR ICFI Consulting Services median
Market cap 227.23m 1.59b 152.13m

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