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ForgeRock Inc (FORG) Stock Fundamental Analysis

USA - New York Stock Exchange - NYSE:FORG - US34631B1017 - Common Stock

23.21 USD
+1.33 (+6.08%)
Last: 8/22/2023, 8:04:01 PM
23.21 USD
0 (0%)
Pre-Market: 8/23/2023, 8:24:40 AM
Fundamental Rating

3

Overall FORG gets a fundamental rating of 3 out of 10. We evaluated FORG against 278 industry peers in the Software industry. While FORG seems to be doing ok healthwise, there are quite some concerns on its profitability. FORG shows excellent growth, but is valued quite expensive already.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

  • FORG had negative earnings in the past year.
  • FORG had a negative operating cash flow in the past year.
FORG Yearly Net Income VS EBIT VS OCF VS FCFFORG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 -20M -40M -60M

1.2 Ratios

  • The profitability ratios for FORG are negative, so there is not much use analyzing them.
Industry RankSector Rank
ROA N/A
ROE N/A
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
FORG Yearly ROA, ROE, ROICFORG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 0 100 -100 200 300

1.3 Margins

  • FORG's Gross Margin of 80.91% is amongst the best of the industry. FORG outperforms 85.20% of its industry peers.
  • In the last couple of years the Gross Margin of FORG has remained more or less at the same level.
  • The Profit Margin and Operating Margin are not available for FORG so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 80.91%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.75%
GM growth 5YN/A
FORG Yearly Profit, Operating, Gross MarginsFORG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 0 20 -20 40 60 80

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5

2. Health

2.1 Basic Checks

  • FORG does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, FORG has more shares outstanding
  • Compared to 1 year ago, FORG has a worse debt to assets ratio.
FORG Yearly Shares OutstandingFORG Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 20M 40M 60M 80M
FORG Yearly Total Debt VS Total AssetsFORG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 100M 200M 300M 400M

2.2 Solvency

  • FORG has an Altman-Z score of 6.98. This indicates that FORG is financially healthy and has little risk of bankruptcy at the moment.
  • FORG has a better Altman-Z score (6.98) than 78.70% of its industry peers.
  • A Debt/Equity ratio of 0.14 indicates that FORG is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.14, FORG perfoms like the industry average, outperforming 53.07% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF N/A
Altman-Z 6.98
ROIC/WACCN/A
WACC10.59%
FORG Yearly LT Debt VS Equity VS FCFFORG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 0 100M 200M 300M

2.3 Liquidity

  • A Current Ratio of 3.61 indicates that FORG has no problem at all paying its short term obligations.
  • FORG's Current ratio of 3.61 is fine compared to the rest of the industry. FORG outperforms 77.62% of its industry peers.
  • A Quick Ratio of 3.61 indicates that FORG has no problem at all paying its short term obligations.
  • FORG has a better Quick ratio (3.61) than 77.62% of its industry peers.
Industry RankSector Rank
Current Ratio 3.61
Quick Ratio 3.61
FORG Yearly Current Assets VS Current LiabilitesFORG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 100M 200M 300M 400M

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7

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 63.51% over the past year.
  • FORG shows a strong growth in Revenue. In the last year, the Revenue has grown by 29.41%.
  • Measured over the past years, FORG shows a very strong growth in Revenue. The Revenue has been growing by 27.68% on average per year.
EPS 1Y (TTM)63.51%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.76%
Revenue 1Y (TTM)29.41%
Revenue growth 3Y27.68%
Revenue growth 5YN/A
Sales Q2Q%22.25%

3.2 Future

  • The Earnings Per Share is expected to grow by 42.74% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, FORG will show a very strong growth in Revenue. The Revenue will grow by 24.24% on average per year.
EPS Next Y37.14%
EPS Next 2Y45.55%
EPS Next 3Y42.74%
EPS Next 5YN/A
Revenue Next Year22.7%
Revenue Next 2Y21.99%
Revenue Next 3Y22.82%
Revenue Next 5Y24.24%

3.3 Evolution

  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
FORG Yearly Revenue VS EstimatesFORG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
FORG Yearly EPS VS EstimatesFORG Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 0 0.2 -0.2 -0.4 -0.6 -0.8

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1

4. Valuation

4.1 Price/Earnings Ratio

  • FORG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • A Price/Forward Earnings ratio of 612.68 indicates a quite expensive valuation of FORG.
  • The rest of the industry has a similar Price/Forward Earnings ratio as FORG.
  • The average S&P500 Price/Forward Earnings ratio is at 25.98. FORG is valued rather expensively when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 612.68
FORG Price Earnings VS Forward Price EarningsFORG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 200 400 600

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
FORG Per share dataFORG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FORG does not grow enough to justify the current Price/Earnings ratio.
  • A more expensive valuation may be justified as FORG's earnings are expected to grow with 42.74% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y45.55%
EPS Next 3Y42.74%

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0

5. Dividend

5.1 Amount

  • No dividends for FORG!.
Industry RankSector Rank
Dividend Yield N/A

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ForgeRock Inc / FORG FAQ

Can you provide the ChartMill fundamental rating for ForgeRock Inc?

ChartMill assigns a fundamental rating of 3 / 10 to FORG.


Can you provide the valuation status for ForgeRock Inc?

ChartMill assigns a valuation rating of 1 / 10 to ForgeRock Inc (FORG). This can be considered as Overvalued.


Can you provide the profitability details for ForgeRock Inc?

ForgeRock Inc (FORG) has a profitability rating of 1 / 10.


How financially healthy is ForgeRock Inc?

The financial health rating of ForgeRock Inc (FORG) is 5 / 10.


What is the expected EPS growth for ForgeRock Inc (FORG) stock?

The Earnings per Share (EPS) of ForgeRock Inc (FORG) is expected to grow by 37.14% in the next year.