Forrester Research (NAS:FORR) ROC (Joel Greenblatt) %

: -16.45% (As of Dec. 2022)

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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Forrester Research's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was -16.45%.

The historical rank and industry rank for Forrester Research's ROC (Joel Greenblatt) % or its related term are showing as below:

FORR' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -2.55 Med: 55.36 Max: 123.58
Current: 39.37

During the past 13 years, Forrester Research's highest ROC (Joel Greenblatt) % was 123.58%. The lowest was -2.55%. And the median was 55.36%.

FORR's ROC (Joel Greenblatt) % is ranked better than
62.97% of 1045 companies
in the Business Services industry
Industry Median: 20.84 vs FORR: 39.37

Forrester Research's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.

Forrester Research ROC (Joel Greenblatt) % Historical Data

The historical data trend for Forrester Research's ROC (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Forrester Research Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

ROC (Joel Greenblatt) %

99.57

-2.55

18.71

39.47

39.88

Forrester Research Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
ROC (Joel Greenblatt) %																46.67	29.12	95.51	42.95	-16.45

Competitive Comparison

For the Consulting Services subindustry, Forrester Research's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Annual Data Quarterly Data

Forrester Research ROC (Joel Greenblatt) % Distribution

For the Business Services industry and Industrials sector, Forrester Research's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Forrester Research's ROC (Joel Greenblatt) % falls in comparison to its industry or sector. The grey bar indicates the ROC (Joel Greenblatt) %'s extreme value range as defined by GuruFocus.

Forrester Research ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %

EBIT

Average of (Net fixed Assets

Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(50.602	+	0	+	34.944)	-	(66.316	+	180.758	+	0)
=	-161.528

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(73.345	+	0	+	38.628)	-	(59.765	+	178.021	+	17.971)
=	-143.784

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Forrester Research for the quarter that ended in Dec. 2022 can be restated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2022		Q: Dec. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-12.656	/	( ( (80.69 + max(-161.528, 0))	+	(73.178 + max(-143.784, 0)) )	/	2 )
=	-12.656	/	( ( 80.69	+	73.178 )	/	2 )
=	-12.656	/	76.934
=	-16.45 %

Note: The EBIT data used here is four times the quarterly (Dec. 2022) EBIT data.

Forrester Research (NAS:FORR) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.

Forrester Research ROC (Joel Greenblatt) % Related Terms

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Forrester Research (NAS:FORR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Forrester Research Inc (NAS:FORR) » Definitions » ROC (Joel Greenblatt) %

Comparable Companies

Traded in Other Exchanges

FFR:Germany

Address

60 Acorn Park Drive, Cambridge, MA, USA, 02140

Website

https://www.forrester.com

Forrester Research Inc is a United States-based company that provides independent research, data, and advisory services. It operates through the following segments: The Research segment develops and delivers research, connect, and analytics products; The consulting segment includes the revenues and the related costs of the company's consulting organization, and the Events segment is engaged in developing and hosting in-person and virtual events.

Executives

Roy Sarah Le	officer: Chief People Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Warren N Romine	director	7325 16TH STREET NW, WASHINGTON DC 20012
Sharyn Leaver	officer: Chief Research Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Alicia Lee	officer: Chief Consulting Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Nathaniel Swan	officer: Chief Sales Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
George F Colony	director, 10 percent owner, officer: Chairman & CEO	C/O FORRESTER RESEARCH INC, 1033 MASSACHUSETTS AVE, CAMBRIDGE MA 02138
Leo Christian Finn	officer: Chief Financial Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Michael Kasparian	officer: Chief Information Officer	C/O FORRESTER RESEARCH, 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Shirley Macbeth	officer: Chief Marketing Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Sherri Kottmann	officer: Chief People Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Carrie Johnson	officer: Chief Research Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Jean Birch	director	3050 SOFT HORIZON WAY, LAS VEGAS NV 89135
Kelley Hippler	officer: Chief Sales Officer	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DR., CAMBRIDGE MA 02140
Anthony J Friscia	director	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140
Yvonne Wassenaar	director	C/O FORRESTER RESEARCH, INC., 60 ACORN PARK DRIVE, CAMBRIDGE MA 02140