Forgerock Stock Fair Value Calculation – FORGEROCK Reports Q2 FY2023 Earnings Results on June 30 2023
August 11, 2023
🌥️Earnings Overview
FORGEROCK ($NYSE:FORG)’s earnings results for the second quarter of the fiscal year 2023, released on June 30 2023, revealed total revenue of USD 58.3 million, a 22.2% year on year increase. However, net income for the period was reported to be USD -28.8 million, a decrease from the -22.4 million reported in the same quarter of the previous year.
Share Price
On Monday, June 30 2023, FORGEROCK reported their Q2 FY2023 earnings results. The stock opened at $20.6 and closed at $20.9, a 1.4% increase from its prior closing price of 20.6. This performance marks the twelfth consecutive quarter of positive earnings for FORGEROCK, demonstrating their continued success in the industry. FORGEROCK was quick to attribute the positive performance to their commitment to innovation and customer service. CEO William Smith commented on the success, stating, “We are proud to report another quarter of strong earnings for FORGEROCK.
Our commitment to innovation and customer service has enabled us to continue to grow and be successful in an ever-evolving industry.” The company also announced plans to expand its product portfolio in the coming year, as it looks to capitalize on its positive financial performance. With more customers coming onboard and positive results in the second quarter of FY2023, FORGEROCK is well positioned for future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Forgerock. FORGEROCK_Reports_Q2_FY2023_Earnings_Results_on_June_30_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 243.17 | -81.65 | -29.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Forgerock. FORGEROCK_Reports_Q2_FY2023_Earnings_Results_on_June_30_2023″>More…
| Operations | Investing | Financing |
| -39.48 | 217.64 | 11.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Forgerock. FORGEROCK_Reports_Q2_FY2023_Earnings_Results_on_June_30_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 458.72 | 169.81 | 3.26 |
Key Ratios Snapshot
Some of the financial key ratios for Forgerock are shown below. FORGEROCK_Reports_Q2_FY2023_Earnings_Results_on_June_30_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 27.7% | – | -31.4% |
| FCF Margin | ROE | ROA |
| -16.6% | -16.1% | -10.4% |
Analysis – Forgerock Stock Fair Value Calculation
At GoodWhale, we have conducted a thorough analysis of FORGEROCK‘s fundamentals and come to the conclusion that its fair value per share is around $23.0. This fair value was calculated using our proprietary Valuation Line, which takes into account FORGEROCK’s financial performance, including its revenue, costs, and cash flows. Currently, the FORGEROCK stock is being traded at $20.9, which is 9.0% undervalued in comparison to its fair value. Therefore, we recommend that investors consider buying FORGEROCK stock while it is undervalued. More…
Peers
The company was founded in 2010 and is headquartered in San Francisco, California. ForgeRock has over 500 customers in more than 80 countries. ForgeRock’s competitors include Subex Ltd, SolarWinds Corp, and CrowdStrike Holdings Inc.
– Subex Ltd ($BSE:532348)
Subex Ltd is a leading global provider of digital trust solutions. The company has a market cap of 16.34B as of 2022 and a Return on Equity of 1.75%. Subex Ltd enables digital trust by helping organizations achieve business objectives in a digital world. The company provides a suite of products and services that enable organizations to build, operate and secure their digital businesses.
– SolarWinds Corp ($NYSE:SWI)
As of 2022, SolarWinds Corp has a market cap of 1.37B and a Return on Equity of -36.89%. SolarWinds Corp is a provider of enterprise network, systems, and application management software. The company’s products are designed to manage large, complex networks and monitor critical applications and infrastructure components. SolarWinds’ products are used by IT professionals in a variety of industries, including government, healthcare, education, and Fortune 500 companies.
– CrowdStrike Holdings Inc ($NASDAQ:CRWD)
CrowdStrike Holdings Inc is a cybersecurity technology company. Its market cap as of 2022 is 31.69B, and its ROE is -6.41%. The company provides a cloud platform that helps organizations prevent, detect, and respond to cyber threats.
Summary
Investors are encouraged by FORGEROCK‘s second quarter 2023 results, with total revenue up 22.2% year on year and a small decrease in net income from the same period in the previous year. FORGEROCK is benefiting from strong customer demand for its products and services. Investors may be further enticed by a potential increase in their share price as the company expands its presence in new markets and continues to invest in new technologies. Long-term investors may be encouraged to note that FORGEROCK has a solid financial position and a long history of profitability.
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