Last 25 quarters of trend data · Healthcare · Medical - Healthcare Information Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -23.48 | — | — | — | 68.06 | — | 80.47 | — | — | — | 17.11 | 4.65 | — |
| — | — | — | — | — | — | +370.2% | — | — | — | — | — | — | |
| P/S Ratio | 2.24 | 2.35 | 2.07 | 2.25 | 2.05 | 2.21 | 2.75 | 3.58 | 4.31 | 5.28 | 4.43 | 3.66 | 4.04 |
| — | +6.7% | -24.6% | -37.1% | -52.4% | -58.2% | -38.0% | -2.0% | +6.8% | -16.5% | +59.3% | -2.4% | -24.8% | |
| P/B Ratio | 2.27 | 2.40 | 2.21 | 2.25 | 1.98 | 2.07 | 2.13 | 2.50 | 3.21 | 3.88 | 3.43 | 2.93 | 3.80 |
| — | +15.8% | +4.2% | -9.9% | -38.3% | -46.6% | -38.0% | -14.8% | -15.4% | -35.7% | -51.5% | -60.9% | -52.6% | |
| P/FCF | 23.49 | — | 5.12 | — | — | 34.72 | 9.13 | 21.98 | — | — | — | 6.97 | — |
| — | — | -43.9% | — | — | — | — | +215.4% | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | 150.59 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | 39.84 | — | 44.28 | — | — | — | — | 4.23 | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Forian Inc.'s operating margin was -42.9% in Q1 2026, down 32.5 pp QoQ and down 23.1 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of -14.1% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 48.7% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.5% | 28.5% | 49.2% | 51.0% | 56.8% | 55.6% | 58.3% | 70.1% | 62.2% | 64.9% | 70.3% | 74.5% | 73.9% |
| — | -48.7% | -15.6% | -27.2% | -8.6% | -14.3% | -17.0% | -6.0% | -15.9% | -12.6% | -10.2% | +0.2% | +0.9% | |
| Operating Margin | -8.2% | -42.9% | -10.4% | -3.9% | 0.6% | -19.8% | -24.9% | -17.0% | -62.2% | -36.3% | -17.0% | -15.1% | -30.4% |
| — | -116.8% | +58.3% | +77.3% | +101.0% | +45.6% | -46.8% | -12.5% | -104.4% | +25.9% | +61.2% | +78.1% | +64.5% | |
| Net Margin | -9.5% | -49.1% | -22.9% | -1.9% | 3.0% | -16.0% | 3.4% | -4.4% | -53.4% | -24.9% | 25.9% | 81.2% | -22.9% |
| — | -207.6% | -765.9% | +55.4% | +105.6% | +35.8% | -86.7% | -105.4% | -132.9% | -118.6% | +157.5% | +213.6% | +72.4% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.6% | -11.9% | -6.0% | -0.5% | 0.7% | -3.7% | 0.7% | -0.8% | -9.8% | -4.5% | 5.1% | 18.3% | -5.5% |
| — | -216.7% | -953.6% | +37.5% | +107.5% | +16.2% | -86.3% | -104.3% | -79.5% | -111.3% | +119.2% | +156.8% | +80.6% | |
| ROA | -6.3% | -8.1% | -4.3% | -0.3% | 0.5% | -2.4% | 0.4% | -0.4% | -4.4% | -2.0% | 2.3% | 7.6% | -2.0% |
| — | -244.8% | -1218.2% | +4.7% | +110.5% | -14.8% | -83.6% | -104.6% | -117.8% | -116.1% | +130.8% | +173.2% | +80.5% | |
| ROIC | -7.5% | -34.3% | -2.9% | -0.8% | 0.1% | -3.3% | -2.7% | -1.2% | -4.7% | -2.9% | -1.5% | -1.4% | -2.5% |
| — | -938.7% | -6.4% | +38.4% | +102.3% | -14.6% | -78.4% | +8.6% | -84.9% | +35.6% | +78.6% | +87.4% | +81.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 25.4% YoY to 3.14x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.22 | 0.23 | 0.22 | 0.91 | 0.94 | 0.83 | 0.83 | 0.93 | 1.23 |
| — | -99.9% | -99.8% | -99.9% | -76.6% | -72.8% | -73.0% | -2.0% | -23.2% | -33.3% | -59.6% | -48.2% | -15.4% | |
| Debt / EBITDA | — | — | — | — | 65.50 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.97 | 3.14 | 2.97 | 3.87 | 2.66 | 2.50 | 2.68 | 1.85 | 7.02 | 8.60 | 8.56 | 7.84 | 6.10 |
| — | +25.4% | +10.7% | +108.6% | -62.2% | -70.9% | -68.7% | -76.3% | +15.2% | +54.1% | +165.8% | +137.7% | +63.0% | |
| Quick Ratio | 2.97 | 3.14 | 2.97 | 3.87 | 2.66 | 2.50 | 2.68 | 1.85 | 7.02 | 8.60 | 8.56 | 7.72 | 5.99 |
| — | +25.4% | +10.7% | +108.6% | -62.2% | -70.9% | -68.7% | -76.0% | +17.2% | +54.1% | +165.8% | +134.2% | +60.1% | |
| Interest Coverage | -17.34 | — | — | -3.72 | 7.34 | -20.23 | 3.07 | -0.54 | -12.17 | -4.58 | -1.23 | 27.25 | -4.00 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
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Quick answers to the most common questions about buying FORA stock.
Forian Inc.'s current P/E is -23.5x. The average P/E over the last 1 quarters is 68.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Forian Inc.'s current operating margin is -8.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Forian Inc.'s business trajectory between earnings reports.