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Forrester Research, Inc. cash flow statement

In fiscal 2025, Forrester Research, Inc.'s operations generated $21.1m of cash; it spent $3.0m on capital projects, leaving free cash flow of $18.1m. It returned $2.5m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations4339555344373848481073922−42123
Depreciation and amortisation4459878910998866
Stock-based pay65458881211101515141211
Capital spending41340548512911653320
Free cash flow392516484030333739963416−7183
Free cash flow after stock pay33201243322125252886191−226−8
Dividends paid—68—13131415————————
Share buybacks20211830240100020154163—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Forrester Research, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Forrester Research, Inc.