Forum Engineering (FRA:4I5) EV-to-EBITDA: 19.41 (As of Sep. 01, 2026) — 73% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:4I5 Forum Engineering Inc FRA:4I5
76 GF Score
Price €9.15
GF Value €5.57
! 6 Warning Signs
View Full Analysis

What is Forum Engineering EV-to-EBITDA?

Forum Engineering FRA:4I5 76 EV-to-EBITDA is 19.41 as of Sep. 01, 2026, which is 73% above its 10-year median of 11.24. GuruFocus rates FRA:4I5 with a GF Score™ of 76/100 and a GF Value™ of €5.57. The stock has 6 warning signs investors should review.

EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Forum Engineering's enterprise value is €427.1 Mil. Forum Engineering's EBITDA for the trailing twelve months (TTM) ended in Sep. 2025 was €22.0 Mil. Therefore, Forum Engineering's EV-to-EBITDA for today is 19.41.

The historical rank and industry rank for Forum Engineering's EV-to-EBITDA or its related term are showing as below:

FRA:4I5' s EV-to-EBITDA Range Over the Past 10 Years
Min: 5.73   Med: 11.24   Max: 65.49
Current: 20.74

During the past 8 years, the highest EV-to-EBITDA of Forum Engineering was 65.49. The lowest was 5.73. And the median was 11.24.

FRA:4I5's EV-to-EBITDA is not ranked
in the Business Services industry.
Industry Median: 7.585 vs FRA:4I5: 20.74

EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.

As of today (2026-09-01), Forum Engineering's stock price is €9.15. Forum Engineering's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2025 was €0.263. Therefore, Forum Engineering's PE Ratio (TTM) for today is 34.79.

The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).


Forum Engineering  (FRA:4I5) EV-to-EBITDA Explanation

EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.

Forum Engineering's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=9.15/0.263
=34.79

Forum Engineering's share price for today is €9.15.
Forum Engineering's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Sep. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was €0.263.

* 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.

Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).

Please read Which price ratio outperforms the enterprise multiple?


Forum Engineering EV-to-EBITDA Related Terms


Forum Engineering EV-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Forum Engineering's EV-to-EBITDA 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.

Forum Engineering EV-to-EBITDA Chart

Forum Engineering Annual Data
Trend Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
EV-to-EBITDA
Get a 7-Day Free Trial 6.79 5.39 6.69 11.41 8.93

Forum Engineering Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25
EV-to-EBITDA Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.65 8.93 23.08 20.86 0.00

FRA:4I5 vs KFY, RHI, TNET: EV-to-EBITDA Comparison

For the Staffing & Employment Services subindustry, Forum Engineering's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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.


Forum Engineering EV-to-EBITDA vs Business Services Industry

For the Business Services industry and Industrials sector, Forum Engineering's EV-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Forum Engineering's EV-to-EBITDA falls into.


FRA:4I5
76GF Score
Forum Engineering Inc FRA:4I5
EV-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Forum Engineering EV-to-EBITDA Calculation

Forum Engineering's EV-to-EBITDA for today is calculated as:

EV-to-EBITDA=Enterprise Value (Today)/EBITDA (TTM)
=427.096/22.005
=19.41

Forum Engineering's current Enterprise Value is €427.1 Mil.
Forum Engineering's EBITDA for the trailing twelve months (TTM) ended in Sep. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was €22.0 Mil.

* 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.

Frequently Asked Questions Learn more about EV-to-EBITDA →
What does a EV-to-EBITDA of 19.41 mean?
Forum Engineering (FRA:4I5) has a EV-to-EBITDA of 19.41 as of Sep. 01, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Forum Engineering. This is 73% above median its historical median of 11.24. Over the past decade, Forum Engineering's EV-to-EBITDA has ranged from 5.73 to 65.49.
Is Forum Engineering's EV-to-EBITDA too high?
Forum Engineering's current EV-to-EBITDA of 19.41 is 73% above median its 10-year median of 11.24. Over the past 10 years, this metric has ranged from a low of 5.73 to a high of 65.49. The Business Services industry median EV-to-EBITDA is 7.59. Forum Engineering's value of 19.41 is 155.9% above this industry median. Overall, Forum Engineering has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Forum Engineering's EV-to-EBITDA compare to KFY and RHI?
Forum Engineering's EV-to-EBITDA of 19.41 can be compared against companies in the Business Services industry. The industry median EV-to-EBITDA is 7.59. Forum Engineering's value of 19.41 is 155.9% above this benchmark. Historically, Forum Engineering's own EV-to-EBITDA has ranged from 5.73 to 65.49 over the past decade. While the company's 10-year median is 11.24 vs. the industry median of 7.59, Forum Engineering has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Business Services company?
The median EV-to-EBITDA among Business Services companies is 7.59, based on 906 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Forum Engineering's current EV-to-EBITDA of 19.41 is 155.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Forum Engineering. For the Business Services industry, the median EV-to-EBITDA is 7.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forum Engineering's current EV-to-EBITDA is 19.41, which is 73% above median its own 10-year median of 11.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forum Engineering stock overvalued right now?
Forum Engineering (FRA:4I5) has a current EV-to-EBITDA of 19.41. The stock's GF Value™ is €5.57, compared to a current price of €9.15 — trading 64.3% above its estimated fair value. The current EV-to-EBITDA is 19.41, which is 73% above median its 10-year median of 11.24 and 155.9% above the Business Services industry median of 7.59. Forum Engineering's overall GF Score™ is 76/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Forum Engineering (FRA:4I5), the current EV-to-EBITDA is 19.41 as of Sep. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Forum Engineering (FRA:4I5) Overvalued in 2026?

Based on GuruFocus' analysis, Forum Engineering stock appears to be overvalued. The current stock price of €9.15 is trading 64.3% above its estimated GF Value™ of €5.57.

Key valuation signals for FRA:4I5:

  • EV-to-EBITDA: 19.41 (73% above median its 10-year median of 11.24)
  • GF Value™: €5.57 vs. price of €9.15 (64.3% above fair value)
  • GF Score™: 76/100 with 6 warning signs
  • Industry Position: 155.9% above the Business Services median

No single metric tells the full story. See the FRA:4I5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Forum Engineering Business Description

Address 4-3-1 Toranomon Minato-ku, Shiroyama Trust Tower 24th Floor, Tokyo, JPN, 105-6024
Forum Engineering Inc is a provider of human resources. The company's business includes worker dispatch business and paid job placement services. Its services include Cognavi dispatch, Cognavi career change, Cognavi graduate, Cognavi talent management, and Cognavi college.
76GF Score

Get the complete analysis for FRA:4I5

EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€9.15
Price
€5.57
GF Value