FORG Fundamental Analysis - ForgeRock Inc

Fundamental Rating

Taking everything into account, FORG scores 3 out of 10 in our fundamental rating. FORG was compared to 278 industry peers in the Software industry. While FORG seems to be doing ok healthwise, there are quite some concerns on its profitability. FORG is valued quite expensively, but it does show have an excellent growth rating.

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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.

1.2 Ratios

The profitability ratios for FORG are negative, so there is not much use analyzing them.

		Industry Rank	Sector 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

1.3 Margins

FORG has a better Gross Margin (80.91%) than 85.20% of its industry peers.

FORG's Gross Margin has been stable in the last couple of years.

FORG does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.

		Industry Rank	Sector 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

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ROA

ROE

ROIC

Operating and Profit Margin

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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

The debt/assets ratio for FORG is higher compared to a year ago.

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's Altman-Z score of 6.98 is fine compared to the rest of the industry. FORG outperforms 78.70% of its industry peers.

A Debt/Equity ratio of 0.14 indicates that FORG is not too dependend on debt financing.

Looking at the Debt to Equity ratio, with a value of 0.14, FORG is in line with its industry, outperforming 53.07% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.14
Debt/FCF	N/A
Altman-Z	6.98

ROIC/WACCN/A

WACC10.59%

2.3 Liquidity

A Current Ratio of 3.61 indicates that FORG has no problem at all paying its short term obligations.

Looking at the Current ratio, with a value of 3.61, FORG is in the better half of the industry, outperforming 77.62% of the companies in the same industry.

FORG has a Quick Ratio of 3.61. This indicates that FORG is financially healthy and has no problem in meeting its short term obligations.

FORG has a Quick ratio of 3.61. This is in the better half of the industry: FORG outperforms 77.62% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	3.61
Quick Ratio	3.61

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

FORG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 63.51%, which is quite impressive.

The Revenue has grown by 29.41% in the past year. This is a very strong growth!

FORG shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 27.68% yearly.

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

Based on estimates for the next years, FORG will show a very strong growth in Earnings Per Share. The EPS will grow by 42.74% on average per year.

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.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for FORG. In the last year negative earnings were reported.

With a Price/Forward Earnings ratio of 612.68, FORG can be considered very expensive at the moment.

The rest of the industry has a similar Price/Forward Earnings ratio as FORG.

The average S&P500 Price/Forward Earnings ratio is at 24.01. FORG is valued rather expensively when compared to this.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	612.68

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

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%

More info and screens

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5. Dividend

5.1 Amount

No dividends for FORG!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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ForgeRock Inc

NYSE:FORG (8/22/2023, 8:04:01 PM)

Premarket: 23.21 0 (0%)

23.21

+1.33 (+6.08%)

Chartmill FA Rating

GICS SectorInformation Technology

GICS IndustryGroupSoftware & Services

GICS IndustrySoftware

Earnings (Last)08-07 2023-08-07/amc

Earnings (Next)11-10 2023-11-10/amc

Inst Owners0.25%

Inst Owner Change0%

Ins Owners0.05%

Ins Owner Change0%

Market Cap2.07B

Revenue(TTM)243.17M

Net Income(TTM)-81.65M

Analysts52.31

Price Target22.77 (-1.9%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-42.01%

Min EPS beat(2)-45.6%

Max EPS beat(2)-38.41%

EPS beat(4)2

Avg EPS beat(4)15.21%

Min EPS beat(4)-45.6%

Max EPS beat(4)93.28%

EPS beat(8)N/A

Avg EPS beat(8)N/A

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)1

Avg Revenue beat(2)-1.96%

Min Revenue beat(2)-6.26%

Max Revenue beat(2)2.34%

Revenue beat(4)3

Avg Revenue beat(4)2.27%

Min Revenue beat(4)-6.26%

Max Revenue beat(4)12.15%

Revenue beat(8)N/A

Avg Revenue beat(8)N/A

Revenue beat(12)N/A

Avg Revenue beat(12)N/A

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)-71.43%

EPS NQ rev (3m)-71.43%

EPS NY rev (1m)0%

EPS NY rev (3m)-25%

Revenue NQ rev (1m)-0.41%

Revenue NQ rev (3m)-0.41%

Revenue NY rev (1m)-0.34%

Revenue NY rev (3m)-0.05%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	612.68
P/S	8.5
P/FCF	N/A
P/OCF	N/A
P/B	7.16
P/tB	7.16
EV/EBITDA	N/A

EPS(TTM)-0.27

EYN/A

EPS(NY)0.04

Fwd EY0.16%

FCF(TTM)-0.45

FCFYN/A

OCF(TTM)-0.44

OCFYN/A

SpS2.73

BVpS3.24

TBVpS3.24

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	N/A
ROE	N/A
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	80.91%
FCFM	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

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3YN/A

ROICexgc growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

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

F-Score3

Asset Turnover0.53

Health

		Industry Rank	Sector Rank
Debt/Equity	0.14
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	94.99%
Cap/Sales	N/A
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	3.61
Quick Ratio	3.61
Altman-Z	6.98

F-Score3

WACC10.59%

ROIC/WACCN/A

Cap/Depr(3y)110.33%

Cap/Depr(5y)N/A

Cap/Sales(3y)N/A

Cap/Sales(5y)N/A

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)63.51%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%11.76%

EPS Next Y37.14%

EPS Next 2Y45.55%

EPS Next 3Y42.74%

EPS Next 5YN/A

Revenue 1Y (TTM)29.41%

Revenue growth 3Y27.68%

Revenue growth 5YN/A

Sales Q2Q%22.25%

Revenue Next Year22.7%

Revenue Next 2Y21.99%

Revenue Next 3Y22.82%

Revenue Next 5Y24.24%

EBIT growth 1Y-17.11%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year49.8%

EBIT Next 3Y44.49%

EBIT Next 5Y40.55%

FCF growth 1Y-0.26%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y0.89%

OCF growth 3YN/A

OCF growth 5YN/A

ForgeRock Inc / FORG FAQ

Can you provide the ChartMill fundamental rating for ForgeRock Inc?

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

What is the valuation status of ForgeRock Inc (FORG) stock?

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.

ForgeRock Inc (FORG) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

More info and screens

ForgeRock Inc / FORG FAQ

Can you provide the ChartMill fundamental rating for ForgeRock Inc?

What is the valuation status of ForgeRock Inc (FORG) stock?

Can you provide the profitability details for ForgeRock Inc?