Taking everything into account, FOR scores 4 out of 10 in our fundamental rating. FOR was compared to 62 industry peers in the Real Estate Management & Development industry. FOR has an excellent profitability rating, but there are concerns on its financial health. FOR has a decent growth rate and is not valued too expensively.

Quickly go to:

1. Profitability

2. Health

3. Growth

4. Valuation

5. Dividend

1. Profitability

1.1 Basic Checks

FOR had positive earnings in the past year.
In the past year FOR has reported a negative cash flow from operations.
In the past 5 years FOR has always been profitable.
In multiple years FOR reported negative operating cash flow during the last 5 years.

1.2 Ratios

FOR's Return On Assets of 5.35% is amongst the best of the industry. FOR outperforms 90.32% of its industry peers.
FOR has a better Return On Equity (9.50%) than 85.48% of its industry peers.
With a decent Return On Invested Capital value of 6.15%, FOR is doing good in the industry, outperforming 77.42% of the companies in the same industry.
FOR had an Average Return On Invested Capital over the past 3 years of 7.33%. This is in line with the industry average of 5.44%.

		Industry Rank	Sector Rank
ROA	5.35%
ROE	9.5%
ROIC	6.15%

ROA(3y)6.42%

ROA(5y)6.43%

ROE(3y)11.48%

ROE(5y)12.05%

ROIC(3y)7.33%

ROIC(5y)7.6%

1.3 Margins

Looking at the Profit Margin, with a value of 10.10%, FOR is in the better half of the industry, outperforming 79.03% of the companies in the same industry.
In the last couple of years the Profit Margin of FOR has grown nicely.
With an excellent Operating Margin value of 13.01%, FOR belongs to the best of the industry, outperforming 82.26% of the companies in the same industry.
FOR's Operating Margin has improved in the last couple of years.
FOR has a Gross Margin (22.30%) which is in line with its industry peers.
In the last couple of years the Gross Margin of FOR has grown nicely.

		Industry Rank	Sector Rank
OM	13.01%
PM (TTM)	10.1%
GM	22.3%

OM growth 3Y-5.5%

OM growth 5Y10.86%

PM growth 3Y-4.97%

PM growth 5Y9.13%

GM growth 3Y1.1%

GM growth 5Y11.96%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FOR is destroying value.
FOR has more shares outstanding than it did 1 year ago.
FOR has more shares outstanding than it did 5 years ago.
FOR has a worse debt/assets ratio than last year.

2.2 Solvency

FOR has an Altman-Z score of 1.76. This is a bad value and indicates that FOR is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of FOR (1.76) is comparable to the rest of the industry.
FOR has a Debt/Equity ratio of 0.45. This is a healthy value indicating a solid balance between debt and equity.
FOR has a Debt to Equity ratio (0.45) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0.45
Debt/FCF	N/A
Altman-Z	1.76

ROIC/WACC0.8

WACC7.64%

2.3 Liquidity

FOR has a Current Ratio of 0.89. This is a bad value and indicates that FOR is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.89, FOR is not doing good in the industry: 82.26% of the companies in the same industry are doing better.
FOR has a Quick Ratio of 0.89. This is a bad value and indicates that FOR is not financially healthy enough and could expect problems in meeting its short term obligations.
FOR has a Quick ratio of 0.89. This is in the lower half of the industry: FOR underperforms 79.03% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	0.89
Quick Ratio	0.89

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

FOR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.00%.
Measured over the past years, FOR shows a very strong growth in Earnings Per Share. The EPS has been growing by 22.29% on average per year.
FOR shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.89%.
Measured over the past years, FOR shows a quite strong growth in Revenue. The Revenue has been growing by 12.27% on average per year.

EPS 1Y (TTM)-6%

EPS 3Y-3.21%

EPS 5Y22.29%

EPS Q2Q%-6.25%

Revenue 1Y (TTM)15.89%

Revenue growth 3Y3.05%

Revenue growth 5Y12.27%

Sales Q2Q%9.03%

3.2 Future

Based on estimates for the next years, FOR will show a small growth in Earnings Per Share. The EPS will grow by 3.24% on average per year.
Based on estimates for the next years, FOR will show a small growth in Revenue. The Revenue will grow by 7.43% on average per year.

EPS Next Y-7.65%

EPS Next 2Y3.24%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year5.75%

Revenue Next 2Y7.43%

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

FOR is valuated cheaply with a Price/Earnings ratio of 7.65.
Based on the Price/Earnings ratio, FOR is valued cheaply inside the industry as 93.55% of the companies are valued more expensively.
FOR is valuated cheaply when we compare the Price/Earnings ratio to 28.60, which is the current average of the S&P500 Index.
FOR is valuated cheaply with a Price/Forward Earnings ratio of 7.14.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FOR indicates a rather cheap valuation: FOR is cheaper than 98.39% of the companies listed in the same industry.
FOR is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.83, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	7.65
Fwd PE	7.14

4.2 Price Multiples

FOR's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. FOR is cheaper than 96.77% of the companies in the same industry.