Forestar Group Inc. (FOR) 10-Year Financial Performance & Capital Metrics

FOR • • REIT / Real Estate

Real EstateReal Estate DevelopmentResidential Land DevelopmentResidential Lot Developers

AboutForestar Group Inc. operates as a residential lot development company in the United States. The acquires land and develops infrastructure for single-family residential communities. It sells its residential single-family finished lots to homebuilders. The company is headquartered in Arlington, Texas. Forestar Group Inc. is a subsidiary of D.R. Horton, Inc.Show more

Revenue $1.66B +10.1%
FFO $171M -17.0%
FFO/Share 3.37 -17.1%
FFO Payout 0%
FFO per Share 3.37 -17.1%
NOI Margin 21.87% -8.1%
FFO Margin 10.31% -24.6%
ROE 10.52% -23.3%
ROA 5.91% -22.8%
Debt/Assets 28.26% +12.0%
Net Debt/EBITDA -2.26 -334.4%
Book Value/Share 31.36 -0.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 22.5%
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗FFO declining 15.9% TTM
✗Low NOI margin of 21.9%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y20.27%

5Y12.27%

3Y3.05%

TTM2.35%

Profit (Net Income) CAGR

10Y-

5Y22.53%

3Y-2.07%

TTM-16.31%

EPS CAGR

10Y-

5Y21.16%

3Y-2.87%

TTM-17.14%

ROCE

10Y Avg8.36%

5Y Avg10.04%

3Y Avg9.75%

Latest8.14%

Peer Comparison

Residential Lot Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AXRAMREP Corporation	113.53M	21.40	9.03	-3.26%	22.86%	7.72%	8.51%	0.00
FORForestar Group Inc.	1.42B	27.91	8.48	10.14%	10.54%	9.68%		0.50

Profit & Loss

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Revenue+	197.31M	114.32M	104.4M	428.3M	931.8M	1.33B	1.52B	1.44B	1.51B	1.66B
Revenue Growth %	-0.25%	-0.42%	-0.09%	3.1%	1.18%	0.42%	0.15%	-0.05%	0.05%	0.1%
Property Operating Expenses	168.93M	109.78M	65.55M	362.7M	813.7M	1.1B	1.2B	1.13B	1.15B	1.3B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	54.77M	78.19M	10M	28.9M	45.7M	68.4M	93.6M	97.7M	118.5M	154.4M
G&A Expenses	21.6M	56.53M	1	28.9M	45.7M	68.4M	93.6M	97.7M	118.5M	154.4M
EBITDA+	369.74M	45.23M	72.6M	425.3M	931.7M	163.5M	236.9M	233.4M	243.8M	212.6M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	229.39M	5.46M	54.8M	388.6M	859.3M	2.7M	2.7M	3M	3M	3.5M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	140.35M	39.77M	17.8M	36.7M	72.4M	160.8M	234.2M	230.4M	240.8M	209.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	19.98M	8.53M	0	0	0	0	0	0	0	0
Interest Coverage	7.02x	4.66x	-	-	-	-	-	-	-	-
Non-Operating Income	28.02M	-49.9M	0	-400K	0	0	0	0	0	-10.2M
Pretax Income+	92.35M	52.12M	49.81M	45.7M	78.1M	146.6M	235.8M	221.6M	270.1M	219.3M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	15.3M	45.82M	49.81M	9.4M	16.4M	36.1M	57M	54.7M	66.7M	51.4M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	58.65M	50.25M	59.55M	33M	60.8M	110.2M	178.8M	166.9M	203.4M	167.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.28%	-0.14%	0.18%	-0.45%	0.84%	0.81%	0.62%	-0.07%	0.22%	-0.17%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	2.71%	-0.81%	1.05%	2.69%	1.18%	-0.88%	0.61%	-0.06%	0.21%	-0.17%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.38	1.19	1.42	0.79	1.26	2.25	3.59	3.33	4.00	3.29
EPS Growth %	1.22%	-0.14%	0.19%	-0.44%	0.59%	0.79%	0.6%	-0.07%	0.2%	-0.18%
EPS (Basic)	1.40	1.19	1.42	0.79	1.27	2.25	3.59	3.34	4.04	3.30
Diluted Shares Outstanding	42.33M	42.38M	42.01M	42.01M	48.09M	48.98M	49.85M	50.12M	50.8M	50.9M

Balance Sheet

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Assets+	733.21M	761.91M	893.1M	1.46B	1.74B	2.1B	2.34B	2.47B	2.84B	2.84B
Asset Growth %	-0.25%	0.04%	0.17%	0.63%	0.2%	0.21%	0.11%	0.05%	0.15%	0%
Real Estate & Other Assets+	296.27M	133.35M	-389.65M	13.7M	1.33B	1.94B	2.07B	1.85B	2.29B	0
PP&E (Net)	3.12M	2M	1.75M	2.4M	1.1M	2.9M	5.7M	5.9M	16.7M	7.1M
Investment Securities	1000K	1000K	1000K	1000K	1000K	900K	500K	500K	300K	0
Total Current Assets+	317.99M	559.51M	349.3M	386M	400.6M	153.6M	264.8M	616M	531.7M	481.2M
Cash & Equivalents	265.8M	321.78M	334.98M	382.8M	394.3M	153.6M	264.8M	616M	481.2M	481.2M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	30.69M	232.29M	24.7M	2.9M	5.5M	-16.5M	10M	-41.4M	0	0
Intangible Assets	0	448K	500K	1.01B	0	0	0	0	0	0
Total Liabilities	171.09M	156.28M	41.94M	646.8M	868.1M	1.09B	1.14B	1.1B	1.25B	1.25B
Total Debt+	110.36M	108.43M	9.17M	460.5M	641.1M	711.8M	714.1M	703.1M	716.6M	802.7M
Net Debt	-155.44M	-213.35M	-325.81M	77.7M	246.8M	550.9M	441.2M	79M	235.4M	-481.2M
Long-Term Debt	110.36M	108.43M	111.7M	460.5M	641.1M	704.5M	706M	695M	706.4M	802.7M
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	3.8M	7.3M	8.1M	8.1M	10.2M	0
Total Current Liabilities+	41.03M	33.92M	43.9M	96.4M	123M	208.6M	264.6M	233.7M	455.2M	85.9M
Accounts Payable	4.8M	2.38M	7.9M	16.8M	29.2M	47.4M	72.2M	68.4M	85.9M	85.9M
Deferred Revenue	10.51M	11.94M	-294.27M	11.8M	9.5M	0	20.2M	135.5M	179.1M	0
Other Liabilities	55.93M	45.47M	63M	169.5M	94.5M	141M	128.1M	116M	5.7M	1.09B
Total Equity+	562.12M	605.63M	669.87M	808.9M	871.8M	1.02B	1.2B	1.37B	1.6B	1.6B
Equity Growth %	0.12%	0.08%	0.11%	0.21%	0.08%	0.17%	0.18%	0.14%	0.16%	0%
Shareholders Equity	560.65M	604.21M	893.15M	808.3M	870.9M	1.01B	1.2B	1.37B	1.59B	1.6B
Minority Interest	1.47M	1.42M	-223.28M	600K	900K	1M	1M	1M	1M	1M
Common Stock	44.8M	41.94M	41.9M	48M	48.1M	49.6M	49.8M	49.9M	50.7M	50.7M
Additional Paid-in Capital	553M	505.98M	506.3M	602.2M	603.9M	636.2M	640.6M	644.2M	665.2M	671M
Retained Earnings	12.6M	56.3M	673.37M	158.1M	218.9M	329.1M	507.9M	674.8M	878.2M	878.2M
Preferred Stock	12.6M	0	125.11M	0	218.9M	0	0	0	0	0
Return on Assets (ROA)	0.07%	0.07%	0.07%	0.03%	0.04%	0.06%	0.08%	0.07%	0.08%	0.06%
Return on Equity (ROE)	0.11%	0.09%	0.09%	0.04%	0.07%	0.12%	0.16%	0.13%	0.14%	0.11%
Debt / Assets	0.15%	0.14%	0.01%	0.32%	0.37%	0.34%	0.3%	0.28%	0.25%	0.28%
Debt / Equity	0.20x	0.18x	0.01x	0.57x	0.74x	0.70x	0.60x	0.51x	0.45x	0.50x
Net Debt / EBITDA	-0.42x	-4.72x	-4.49x	0.18x	0.26x	3.37x	1.86x	0.34x	0.97x	-2.26x
Book Value per Share	13.28	14.29	15.94	19.26	18.13	20.74	24.06	27.33	31.40	31.36

Cash Flow

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	66.88M	-16.21M	-285.28M	-391.2M	-168.4M	-303.1M	108.7M	364.1M	-158.4M	-197.7M
Operating CF Growth %	0.9%	-1.24%	-16.59%	-0.37%	0.57%	-0.8%	1.36%	2.35%	-1.44%	-0.25%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	60.18M	52.33M	91.75M	36.3M	61.7M	110.5M	178.8M	166.9M	203.4M	167.9M
Depreciation & Amortization	55.17M	9.17M	5.2M	9.4M	4.9M	2.7M	2.7M	3M	3M	3.5M
Stock-Based Compensation	4.04M	6.64M	4.4M	1.3M	2M	2.6M	3.3M	4.3M	5.3M	7.3M
Other Non-Cash Items	6.46M	-71.78M	-453.66M	100K	200K	18.5M	8.1M	22.4M	-5.4M	-395.1M
Working Capital Changes	-2.44M	-1.7M	56.42M	-447.8M	-260.3M	-456.6M	-96.7M	153.7M	-381.5M	0
Cash from Investing+	420.74M	134.54M	258.97M	-800K	5M	1M	1.3M	300K	7.3M	3.2M
Acquisitions (Net)	-389K	6.85M	0	100K	4.3M	0	1.6M	1.6M	0	0
Purchase of Investments	-6.09M	0	0	800K	-3.7M	0	1.9M	0	0	0
Sale of Investments	1000K	0	756K	100K	1000K	1000K	1000K	0	0	0
Other Investing	421.71M	130.09M	258.26M	-100K	700K	0	-300K	0	7.3M	3.2M
Cash from Financing+	-318.26M	-62.34M	22.11M	439.8M	174.9M	61.4M	1.2M	-13.2M	16.3M	92.5M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Common Dividends	0	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	-1000K	-1000K	-291K	1000K	1000K	1000K	0	-1000K	0	0
Share Repurchases	-3.54M	0	0	-100K	-300K	-600K	-500K	-700K	-3.4M	0
Other Financing	-2.46M	-15.5M	22.41M	-10.8M	-5.9M	-7.4M	-500K	0	-3.4M	92.5M
Net Change in Cash+	169.36M	55.98M	69.18M	47.8M	11.5M	-240.7M	111.2M	351.2M	-134.8M	-102M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	96.44M	265.8M	265.8M	335M	382.8M	394.3M	153.6M	264.8M	616M	481.2M
Cash at End	265.8M	321.78M	334.98M	382.8M	394.3M	153.6M	264.8M	616M	481.2M	379.2M
Free Cash Flow+	60.16M	-18.67M	-285.33M	-392.1M	-169M	-304.7M	105.2M	362.8M	-160.6M	-197.7M
FCF Growth %	3.05%	-1.31%	-14.29%	-0.37%	0.57%	-0.8%	1.35%	2.45%	-1.44%	-0.23%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	6.8	1.31	2.72	10.04	19.13	2.31	3.64	3.39	4.06	3.37
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
NOI Margin	14.38%	3.97%	37.21%	15.32%	12.67%	17.29%	21.33%	21.16%	23.8%	21.87%
Net Debt / EBITDA	-0.42x	-4.72x	-4.49x	0.18x	0.26x	3.37x	1.86x	0.34x	0.97x	-2.26x
Debt / Assets	15.05%	14.23%	1.03%	31.63%	36.85%	33.87%	30.48%	28.46%	25.23%	28.26%
Interest Coverage	7.02x	4.66x	-	-	-	-	-	-	-	-
Book Value / Share	13.28	14.29	15.94	19.26	18.13	20.74	24.06	27.33	31.4	31.36
Revenue Growth	-24.81%	-42.06%	-8.68%	310.26%	117.56%	42.28%	14.58%	-5.41%	5.05%	10.14%

Revenue by Segment

	2013	2014	2015	2016	2017	2019	2020	2021	2022	2023
Real Estate	248.01M	213.11M	202.83M	190.27M	20.92M	351.7M	880.3M	1.29B	1.46B	1.3B
Real Estate Growth	-	-14.07%	-4.82%	-6.19%	-89.00%	1580.93%	150.30%	46.89%	12.56%	-10.68%
Land	-	-	-	-	-	55.8M	48.6M	-	-	-
Land Growth	-	-	-	-	-	-	-12.90%	-	-	-
Oil And Gas	72.31M	84.3M	52.94M	5.08M	1.5M	-	-	-	-	-
Oil And Gas Growth	-	16.58%	-37.20%	-90.41%	-70.41%	-	-	-	-	-
Other Natural Resources	10.72M	9.36M	6.65M	1.97M	74K	-	-	-	-	-
Other Natural Resources Growth	-	-12.68%	-28.95%	-70.46%	-96.23%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Forestar Group Inc. (FOR) has a price-to-earnings (P/E) ratio of 8.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Forestar Group Inc. (FOR) reported $1.54B in revenue for fiscal year 2025. This represents a 794% increase from $172.6M in 2012.

Forestar Group Inc. (FOR) grew revenue by 10.1% over the past year. This is steady growth.

Yes, Forestar Group Inc. (FOR) is profitable, generating $162.6M in net income for fiscal year 2025 (10.1% net margin).

Dividend & Returns

Forestar Group Inc. (FOR) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.

Industry Metrics

Forestar Group Inc. (FOR) generated Funds From Operations (FFO) of $165.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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Forestar Group Inc. (FOR) 10-Year Financial Performance & Capital Metrics

FOR • • REIT / Real Estate

Real EstateReal Estate DevelopmentResidential Land DevelopmentResidential Lot Developers

Revenue $1.66B +10.1%
FFO $171M -17.0%
FFO/Share 3.37 -17.1%
FFO Payout 0%
FFO per Share 3.37 -17.1%
NOI Margin 21.87% -8.1%
FFO Margin 10.31% -24.6%
ROE 10.52% -23.3%
ROA 5.91% -22.8%
Debt/Assets 28.26% +12.0%
Net Debt/EBITDA -2.26 -334.4%
Book Value/Share 31.36 -0.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 22.5%
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗FFO declining 15.9% TTM
✗Low NOI margin of 21.9%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y20.27%

5Y12.27%

3Y3.05%

TTM2.35%

Profit (Net Income) CAGR

10Y-

5Y22.53%

3Y-2.07%

TTM-16.31%

EPS CAGR

10Y-

5Y21.16%

3Y-2.87%

TTM-17.14%

ROCE

10Y Avg8.36%

5Y Avg10.04%

3Y Avg9.75%

Latest8.14%

Peer Comparison

Residential Lot Developers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AXRAMREP Corporation	113.53M	21.40	9.03	-3.26%	22.86%	7.72%	8.51%	0.00
FORForestar Group Inc.	1.42B	27.91	8.48	10.14%	10.54%	9.68%		0.50

Profit & Loss

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Revenue+	197.31M	114.32M	104.4M	428.3M	931.8M	1.33B	1.52B	1.44B	1.51B	1.66B
Revenue Growth %	-0.25%	-0.42%	-0.09%	3.1%	1.18%	0.42%	0.15%	-0.05%	0.05%	0.1%
Property Operating Expenses	168.93M	109.78M	65.55M	362.7M	813.7M	1.1B	1.2B	1.13B	1.15B	1.3B
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	54.77M	78.19M	10M	28.9M	45.7M	68.4M	93.6M	97.7M	118.5M	154.4M
G&A Expenses	21.6M	56.53M	1	28.9M	45.7M	68.4M	93.6M	97.7M	118.5M	154.4M
EBITDA+	369.74M	45.23M	72.6M	425.3M	931.7M	163.5M	236.9M	233.4M	243.8M	212.6M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	229.39M	5.46M	54.8M	388.6M	859.3M	2.7M	2.7M	3M	3M	3.5M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	140.35M	39.77M	17.8M	36.7M	72.4M	160.8M	234.2M	230.4M	240.8M	209.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	19.98M	8.53M	0	0	0	0	0	0	0	0
Interest Coverage	7.02x	4.66x	-	-	-	-	-	-	-	-
Non-Operating Income	28.02M	-49.9M	0	-400K	0	0	0	0	0	-10.2M
Pretax Income+	92.35M	52.12M	49.81M	45.7M	78.1M	146.6M	235.8M	221.6M	270.1M	219.3M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	15.3M	45.82M	49.81M	9.4M	16.4M	36.1M	57M	54.7M	66.7M	51.4M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	58.65M	50.25M	59.55M	33M	60.8M	110.2M	178.8M	166.9M	203.4M	167.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.28%	-0.14%	0.18%	-0.45%	0.84%	0.81%	0.62%	-0.07%	0.22%	-0.17%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	2.71%	-0.81%	1.05%	2.69%	1.18%	-0.88%	0.61%	-0.06%	0.21%	-0.17%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.38	1.19	1.42	0.79	1.26	2.25	3.59	3.33	4.00	3.29
EPS Growth %	1.22%	-0.14%	0.19%	-0.44%	0.59%	0.79%	0.6%	-0.07%	0.2%	-0.18%
EPS (Basic)	1.40	1.19	1.42	0.79	1.27	2.25	3.59	3.34	4.04	3.30
Diluted Shares Outstanding	42.33M	42.38M	42.01M	42.01M	48.09M	48.98M	49.85M	50.12M	50.8M	50.9M

Balance Sheet

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Assets+	733.21M	761.91M	893.1M	1.46B	1.74B	2.1B	2.34B	2.47B	2.84B	2.84B
Asset Growth %	-0.25%	0.04%	0.17%	0.63%	0.2%	0.21%	0.11%	0.05%	0.15%	0%
Real Estate & Other Assets+	296.27M	133.35M	-389.65M	13.7M	1.33B	1.94B	2.07B	1.85B	2.29B	0
PP&E (Net)	3.12M	2M	1.75M	2.4M	1.1M	2.9M	5.7M	5.9M	16.7M	7.1M
Investment Securities	1000K	1000K	1000K	1000K	1000K	900K	500K	500K	300K	0
Total Current Assets+	317.99M	559.51M	349.3M	386M	400.6M	153.6M	264.8M	616M	531.7M	481.2M
Cash & Equivalents	265.8M	321.78M	334.98M	382.8M	394.3M	153.6M	264.8M	616M	481.2M	481.2M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Assets	30.69M	232.29M	24.7M	2.9M	5.5M	-16.5M	10M	-41.4M	0	0
Intangible Assets	0	448K	500K	1.01B	0	0	0	0	0	0
Total Liabilities	171.09M	156.28M	41.94M	646.8M	868.1M	1.09B	1.14B	1.1B	1.25B	1.25B
Total Debt+	110.36M	108.43M	9.17M	460.5M	641.1M	711.8M	714.1M	703.1M	716.6M	802.7M
Net Debt	-155.44M	-213.35M	-325.81M	77.7M	246.8M	550.9M	441.2M	79M	235.4M	-481.2M
Long-Term Debt	110.36M	108.43M	111.7M	460.5M	641.1M	704.5M	706M	695M	706.4M	802.7M
Short-Term Borrowings	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	3.8M	7.3M	8.1M	8.1M	10.2M	0
Total Current Liabilities+	41.03M	33.92M	43.9M	96.4M	123M	208.6M	264.6M	233.7M	455.2M	85.9M
Accounts Payable	4.8M	2.38M	7.9M	16.8M	29.2M	47.4M	72.2M	68.4M	85.9M	85.9M
Deferred Revenue	10.51M	11.94M	-294.27M	11.8M	9.5M	0	20.2M	135.5M	179.1M	0
Other Liabilities	55.93M	45.47M	63M	169.5M	94.5M	141M	128.1M	116M	5.7M	1.09B
Total Equity+	562.12M	605.63M	669.87M	808.9M	871.8M	1.02B	1.2B	1.37B	1.6B	1.6B
Equity Growth %	0.12%	0.08%	0.11%	0.21%	0.08%	0.17%	0.18%	0.14%	0.16%	0%
Shareholders Equity	560.65M	604.21M	893.15M	808.3M	870.9M	1.01B	1.2B	1.37B	1.59B	1.6B
Minority Interest	1.47M	1.42M	-223.28M	600K	900K	1M	1M	1M	1M	1M
Common Stock	44.8M	41.94M	41.9M	48M	48.1M	49.6M	49.8M	49.9M	50.7M	50.7M
Additional Paid-in Capital	553M	505.98M	506.3M	602.2M	603.9M	636.2M	640.6M	644.2M	665.2M	671M
Retained Earnings	12.6M	56.3M	673.37M	158.1M	218.9M	329.1M	507.9M	674.8M	878.2M	878.2M
Preferred Stock	12.6M	0	125.11M	0	218.9M	0	0	0	0	0
Return on Assets (ROA)	0.07%	0.07%	0.07%	0.03%	0.04%	0.06%	0.08%	0.07%	0.08%	0.06%
Return on Equity (ROE)	0.11%	0.09%	0.09%	0.04%	0.07%	0.12%	0.16%	0.13%	0.14%	0.11%
Debt / Assets	0.15%	0.14%	0.01%	0.32%	0.37%	0.34%	0.3%	0.28%	0.25%	0.28%
Debt / Equity	0.20x	0.18x	0.01x	0.57x	0.74x	0.70x	0.60x	0.51x	0.45x	0.50x
Net Debt / EBITDA	-0.42x	-4.72x	-4.49x	0.18x	0.26x	3.37x	1.86x	0.34x	0.97x	-2.26x
Book Value per Share	13.28	14.29	15.94	19.26	18.13	20.74	24.06	27.33	31.40	31.36

Cash Flow

	Dec 2016	Dec 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	66.88M	-16.21M	-285.28M	-391.2M	-168.4M	-303.1M	108.7M	364.1M	-158.4M	-197.7M
Operating CF Growth %	0.9%	-1.24%	-16.59%	-0.37%	0.57%	-0.8%	1.36%	2.35%	-1.44%	-0.25%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	60.18M	52.33M	91.75M	36.3M	61.7M	110.5M	178.8M	166.9M	203.4M	167.9M
Depreciation & Amortization	55.17M	9.17M	5.2M	9.4M	4.9M	2.7M	2.7M	3M	3M	3.5M
Stock-Based Compensation	4.04M	6.64M	4.4M	1.3M	2M	2.6M	3.3M	4.3M	5.3M	7.3M
Other Non-Cash Items	6.46M	-71.78M	-453.66M	100K	200K	18.5M	8.1M	22.4M	-5.4M	-395.1M
Working Capital Changes	-2.44M	-1.7M	56.42M	-447.8M	-260.3M	-456.6M	-96.7M	153.7M	-381.5M	0
Cash from Investing+	420.74M	134.54M	258.97M	-800K	5M	1M	1.3M	300K	7.3M	3.2M
Acquisitions (Net)	-389K	6.85M	0	100K	4.3M	0	1.6M	1.6M	0	0
Purchase of Investments	-6.09M	0	0	800K	-3.7M	0	1.9M	0	0	0
Sale of Investments	1000K	0	756K	100K	1000K	1000K	1000K	0	0	0
Other Investing	421.71M	130.09M	258.26M	-100K	700K	0	-300K	0	7.3M	3.2M
Cash from Financing+	-318.26M	-62.34M	22.11M	439.8M	174.9M	61.4M	1.2M	-13.2M	16.3M	92.5M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Common Dividends	0	0	0	0	0	0	0	0	0	0
Debt Issuance (Net)	-1000K	-1000K	-291K	1000K	1000K	1000K	0	-1000K	0	0
Share Repurchases	-3.54M	0	0	-100K	-300K	-600K	-500K	-700K	-3.4M	0
Other Financing	-2.46M	-15.5M	22.41M	-10.8M	-5.9M	-7.4M	-500K	0	-3.4M	92.5M
Net Change in Cash+	169.36M	55.98M	69.18M	47.8M	11.5M	-240.7M	111.2M	351.2M	-134.8M	-102M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	96.44M	265.8M	265.8M	335M	382.8M	394.3M	153.6M	264.8M	616M	481.2M
Cash at End	265.8M	321.78M	334.98M	382.8M	394.3M	153.6M	264.8M	616M	481.2M	379.2M
Free Cash Flow+	60.16M	-18.67M	-285.33M	-392.1M	-169M	-304.7M	105.2M	362.8M	-160.6M	-197.7M
FCF Growth %	3.05%	-1.31%	-14.29%	-0.37%	0.57%	-0.8%	1.35%	2.45%	-1.44%	-0.23%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	6.8	1.31	2.72	10.04	19.13	2.31	3.64	3.39	4.06	3.37
FFO Payout Ratio	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
NOI Margin	14.38%	3.97%	37.21%	15.32%	12.67%	17.29%	21.33%	21.16%	23.8%	21.87%
Net Debt / EBITDA	-0.42x	-4.72x	-4.49x	0.18x	0.26x	3.37x	1.86x	0.34x	0.97x	-2.26x
Debt / Assets	15.05%	14.23%	1.03%	31.63%	36.85%	33.87%	30.48%	28.46%	25.23%	28.26%
Interest Coverage	7.02x	4.66x	-	-	-	-	-	-	-	-
Book Value / Share	13.28	14.29	15.94	19.26	18.13	20.74	24.06	27.33	31.4	31.36
Revenue Growth	-24.81%	-42.06%	-8.68%	310.26%	117.56%	42.28%	14.58%	-5.41%	5.05%	10.14%

Revenue by Segment

	2013	2014	2015	2016	2017	2019	2020	2021	2022	2023
Real Estate	248.01M	213.11M	202.83M	190.27M	20.92M	351.7M	880.3M	1.29B	1.46B	1.3B
Real Estate Growth	-	-14.07%	-4.82%	-6.19%	-89.00%	1580.93%	150.30%	46.89%	12.56%	-10.68%
Land	-	-	-	-	-	55.8M	48.6M	-	-	-
Land Growth	-	-	-	-	-	-	-12.90%	-	-	-
Oil And Gas	72.31M	84.3M	52.94M	5.08M	1.5M	-	-	-	-	-
Oil And Gas Growth	-	16.58%	-37.20%	-90.41%	-70.41%	-	-	-	-	-
Other Natural Resources	10.72M	9.36M	6.65M	1.97M	74K	-	-	-	-	-
Other Natural Resources Growth	-	-12.68%	-28.95%	-70.46%	-96.23%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Forestar Group Inc. (FOR) has a price-to-earnings (P/E) ratio of 8.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Forestar Group Inc. (FOR) reported $1.54B in revenue for fiscal year 2025. This represents a 794% increase from $172.6M in 2012.

Forestar Group Inc. (FOR) grew revenue by 10.1% over the past year. This is steady growth.

Yes, Forestar Group Inc. (FOR) is profitable, generating $162.6M in net income for fiscal year 2025 (10.1% net margin).

Dividend & Returns

Forestar Group Inc. (FOR) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.

Industry Metrics

Forestar Group Inc. (FOR) generated Funds From Operations (FFO) of $165.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.