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Apr 21, 2026·SEC
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Forestar Group Inc.(FOR)Earnings, Financials & Key Ratios
FOR•NYSE•REIT / Real Estate
$30.22
9.2× P/E·Price updated Jul 7, 2026
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/Share3.37-17.1%
- FFO Payout0%
- FFO per Share3.37-17.1%
- NOI Margin21.87%-8.1%
- FFO Margin10.31%-24.6%
- ROE9.98%-27.2%
- ROA5.62%-26.7%
FOR Price & Volume
Forestar Group Inc. (FOR) stock price & volume — 10-year historical chart
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Cyclical Lot Delivery Volatility Masks Inventory Risks
Investment Thesis • Updated 2026Q2
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Parent-subsidiary demand concentration
Key Thesis Takeaways
- Forestar Group demonstrates a capital-intensive growth strategy characterized by significant revenue lumpiness, as evidenced by growth rates swinging from a 18.1% contraction in 2025Q1 to a 21.6% expansion by 2025Q4.
- While the company maintains a conservative debt-to-equity ratio between 0.44 and 0.54, investors should monitor the persistent disconnect between FFO and operating cash flow, which saw a $157.0 million cash outflow in 2026Q1.
- The long-term outlook remains sensitive to builder demand concentration and the potential for margin erosion, given that NOI margins have compressed from 25.0% in 2024Q2 to 21.4% in 2026Q2.
Verdict Logic
while the company maintains a healthy debt-to-equity ratio of 0.44 as of 2026Q2, the extreme volatility in FFO per share, which ranged from $0.32 to $1.73 over the last six quarters, warrants a cautious approach.
FOR Growth Metrics
Forestar Group Inc. (FOR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years20.27%
5 Years12.27%
3 Years3.05%
TTM16.12%
Profit CAGR
10 Years-
5 Years22.53%
3 Years-2.07%
TTM-0.59%
EPS CAGR
10 Years-
5 Years21.16%
3 Years-2.87%
TTM-0.61%
Return on Capital
10 Years8.52%
5 Years10.26%
3 Years9.68%
Last Year8.23%
FOR Recent Earnings
Forestar Group Inc. (FOR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 21, 2026Metric
Actual
Est
EPS
$0.63-12.5%
$0.72
Rev
$374M+0.2%
$374M
Q1 2026
Jan 20, 2026Metric
Actual
Est
EPS
$0.30+42.9%
$0.21
Rev
$273M+2.8%
$266M
Q4 2025
Oct 28, 2025Metric
Actual
Est
EPS
$1.70+34.9%
$1.26
Rev
$671M+20.5%
$557M
Q3 2025
Jul 22, 2025Metric
Actual
Est
EPS
$0.65-16.7%
$0.78
Rev
$391M-29.8%
$557M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 21, 2026 | $0.63vs $0.72-12.5% | $374Mvs $374M+0.2% |
| Q1 2026 | Jan 20, 2026 | $0.30vs $0.21+42.9% | $273Mvs $266M+2.8% |
| Q4 2025 | Oct 28, 2025 | $1.70vs $1.26+34.9% | $671Mvs $557M+20.5% |
| Q3 2025 | Jul 22, 2025 | $0.65vs $0.78-16.7% | $391Mvs $557M-29.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Forestar Group Inc. (FOR)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $30.22 | $1.54B | 9.19 | 10.14% | 10.1% | 9.98% | — | |
| $58.92 | $1.36B | 18.88 | -22.57% | 4.22% | 3.39% | — | |
| $74.81 | $3.23B | 10.58 | -2.81% | 14.9% | 15.76% | — | |
| $71.77 | $6.71B | 9.24 | -0.57% | 8.83% | 10.84% | — | |
| $82.95 | $4.55B | 22.73 | 7.26% | 7.77% | 13.1% | — | |
| $155.72 | $44.16B | 13.46 | -6.93% | 9.51% | 12.94% | — |
Compare FOR vs Peers
Forestar Group Inc. (FOR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
FOR SEC Filings & Documents
Forestar Group Inc. (FOR) SEC filings — annual & quarterly reports (10-K, 10-Q)
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FOR Frequently Asked Questions
Forestar Group Inc. (FOR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Forestar Group Inc.'s revenue?
Forestar Group Inc. (FOR) reported $1.71B in revenue for fiscal year 2025. This represents a 999% increase from $155.5M in 2005.
How fast is Forestar Group Inc. growing?
Forestar Group Inc. (FOR) grew revenue by 10.1% over the past year. This is steady growth.
Is FOR profitable?
Yes, Forestar Group Inc. (FOR) is profitable, generating $167.4M in net income for fiscal year 2025 (10.1% net margin).
Dividend & Returns
What is FOR's return on equity?
Forestar Group Inc. (FOR) has a return on equity (ROE) of 10.0%. This is below average, suggesting room for improvement.
Industry Metrics
What is Forestar Group Inc.'s FFO?
Forestar Group Inc. (FOR) generated Funds From Operations (FFO) of $170.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.