Check Before You Invest : Forbes & Company Ltd

Q: Which industry/sub-sector does Forbes & Company Ltd belong to?

Forbes & Company Ltd belongs to the Capital Goods & Industrial Consumables sector, operating specifically within the Engineering - Industrial Equipments segment.

Q: Is Forbes & Company Ltd a good quality company?

Forbes & Company Ltd is a average quality company, based on a somewhat consistent multi-year financial track record. This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q: Is Forbes & Company Ltd undervalued or overvalued?

Forbes & Company Ltd appears Somewhat Undervalued, as its key valuation ratios are lower than their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 22.16, Historic Median: 9.76. Price to Book, Current: 2.61, Historic Median: 4.22. Price to Sales, Current: 3.11, Historic Median: 3.30. EV to EBITDA, Current: 12.74, Historic Median: 12.57

Q: Is Forbes & Company Ltd a good buy now?

Forbes & Company Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Q: Revenue growth of Forbes & Company Ltd?

Forbes & Company Ltd revenue growth is 59.5% for FY-2025, which is above its 5-year CAGR of 0.2%, indicating faster growth.

Q: Gross Profit margin of Forbes & Company Ltd?

Forbes & Company Ltd Gross profit margin which is the profit after deduction of direct costs, is 21% for FY-2025, which is below its 5-year median of 23.4%, indicating decreasing margins.

Q: Operating Profit Margin of Forbes & Company Ltd?

Forbes & Company Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 13.27% for FY-2025, which is in line with its 5-year median of 13.09% indicating stable margins.

Q: Net Profit Margin of Forbes & Company Ltd?

Forbes & Company Ltd Net Profit Margin is 13.68% for FY-2025, is below its 5-year median of 16.47%, indicating decreasing margins. Profitability Metrics. Gross Profit Margin (%), Current: 21, Historic Median: 23.4. Operating Profit Margin (%), Current: 13.27, Historic Median: 13.09. Net Profit Margin (%), Current: 13.68, Historic Median: 16.47

Q: Return on Asset of Forbes & Company Ltd?

Forbes & Company Ltd Return on Asset is 9.4%, which is in line with its 5-year historical median of 9.4%, indicating stable asset utilization efficiency.

Q: Return on capital employed (ROCE) of Forbes & Company Ltd?

Forbes & Company Ltd Return on capital employed is 27.56% for FY-2025, which is in line with its 5-year historical median of 27.56%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 14%, indicating value creation.

Check Before You Invest : Forbes & Company Ltd

Snapshot

Q.1 Which industry/sub-sector does Forbes & Company Ltd belong to?

Forbes & Company Ltd belongs to the Capital Goods & Industrial Consumables sector, operating specifically within the Engineering - Industrial Equipments segment.

Q.2 Is Forbes & Company Ltd a good quality company?

Forbes & Company Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is Forbes & Company Ltd undervalued or overvalued?

Forbes & Company Ltd appears Somewhat Undervalued, as its key valuation ratios are lower than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	22.16	9.76
Price to Book	2.61	4.22
Price to Sales	3.11	3.30
EV to EBITDA	12.74	12.57

Q.4 Is Forbes & Company Ltd a good buy now?

Forbes & Company Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of Forbes & Company Ltd?

Forbes & Company Ltd revenue growth is 59.5% for FY-2025, which is above its 5-year CAGR of 0.2%, indicating faster growth.

Q.2 Gross Profit margin of Forbes & Company Ltd?

Forbes & Company Ltd Gross profit margin which is the profit after deduction of direct costs, is 21% for FY-2025, which is below its 5-year median of 23.4%, indicating decreasing margins.

Q.3 Operating Profit Margin of Forbes & Company Ltd?

Forbes & Company Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 13.27% for FY-2025, which is in line with its 5-year median of 13.09% indicating stable margins.

Q.4 Net Profit Margin of Forbes & Company Ltd?

Forbes & Company Ltd Net Profit Margin is 13.68% for FY-2025, is below its 5-year median of 16.47%, indicating decreasing margins.

	Current Level	5-year Historic Median
Gross Profit Margin (%)	21	23.4
Operating Profit Margin (%)	13.27	13.09
Net Profit Margin (%)	13.68	16.47

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of Forbes & Company Ltd?

Forbes & Company Ltd Return on Asset is 9.4%, which is in line with its 5-year historical median of 9.4%, indicating stable asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of Forbes & Company Ltd?

Forbes & Company Ltd Return on capital employed is 27.56% for FY-2025, which is in line with its 5-year historical median of 27.56%. The current ROCE is above its estimated weighted average cost of capital (WACC) of 14%, indicating value creation.

Q.7 Return on Equity (ROE) of Forbes & Company Ltd?

Forbes & Company Ltd Return on equity is 19.33% for FY-2025, which is in line with its 5-year historical median of 19.33%, indicating the business is making similar use of its shareholders capital.

Q.8 Cash conversion cycle of Forbes & Company Ltd?

Forbes & Company Ltd Cash conversion cycle is 79 days, below its 5-year historical median of 184 days, indicating improved working capital management. However, you need to compare this with its peers in the industry.

	Current Level	5-year Historic Median
Asset Turnover (x)	0.69	0.49
ROE (%)	19.33	19.33
ROCE (%)	27.56	27.56
Cash Conversion Cycle	79 days	184 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of Forbes & Company Ltd?

Forbes & Company Ltd Debt-to-Equity ratio is 0.00, which is lower the industry average of 0.18, indicating lower debt levels in the industry.

Q.10 Debt to cash flow from operations of Forbes & Company Ltd?

Forbes & Company Ltd Debt to cash flow from operations is 0, which is at a healthy level.

Ownership & governance

D: Promoter shareholding and pledge status of Forbes & Company Ltd?

Q.1 Promoter shareholding and pledge status of Forbes & Company Ltd?

Promoters hold 73.85% of the Forbes & Company Ltd, with 98.25% of their stake pledged, indicating high pledge risk.

Peer comparison (industry-wise, mcap)

E: How does Forbes & Company Ltd performance compare with that of its Peers?

Q.1 Revenue growth of Forbes & Company Ltd vs industry peers?

Forbes & Company Ltd revenue CAGR is 0.20%, compared to the industry median CAGR of 3.61%, indicating slower growth and losing its market share.

Profit Metrics

	Current Level	5-year Industry Median
Revenue Growth (%)	59.5	3.6
Gross Profit Growth (%)	41.4	23
Operating Profit Growth (%)	271.4	21.7
Net Profit Growth (%)	35	26.9

Operating Efficiency

	Current Level	5-year Industry Median
Asset Turnover (x)	0.69	0.89
ROE (%)	19.33	11.8
ROCE (%)	27.56	14.41
Cash Conversion Cycle (days)	79.1	99

Valuation & price assessment

Q.1 Stock return of Forbes & Company Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of -12.3% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	-12.3%	-26.8%	-16.5%	1.1%

Q.2 Valuation ratios of Forbes & Company Ltd vs historical?

The current P/E ratio of 22.16 is higher than its historical median of 9.76, indicating that the stock is trading above its historical average valuation.

Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	22.16	9.76	29.36
Price to Book	2.61	4.22	2.91
Price to Sales	3.11	3.30	2.93
EV to EBITDA	12.74	12.57	15.77

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Check Before You Invest : Forbes & Company Ltd

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

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