Pricing Log in Create free account
Saturday 17 October 2026 Export FOR’s income statement to Excel — free account

Forestar Group Inc

FOR Real Estate Real Estate Development

Forestar Group Inc’s revenue for fiscal 2025 (year ended September 2025) was $1.7 billion, up 10.1% from fiscal 2024. In the quarter to June 2026, revenue grew 4.23%, EPS grew 7.69%, free cash flow grew 118.0% and total debt fell 9.05%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

25.67 0.02 −0.08%
Market cap
$1.3B
P/E
7.7×
Fwd P/E
9.5×
Dividend yield
—
F-score
1/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.16
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — 1 — 1 — —
Insider Ownership 62.27%

Capital & Financial Ratios $m

Market Cap 1,310.00
Revenue 1,724.80
Net Income 170.60
Free Cash Flow 287.40
Net Debt 398.90
Current Ratio 1.44
Debt/Equity 0.43
P/E ratio 7.69
Fwd P/E 9.48
P/S ratio 0.76
P/B ratio 0.71
Past 5Y EPS Growth 21.16% (at or above 15%: strong)
This Y EPS Growth (12.46%) (below 0%: weak)
Next Y EPS Growth (0.93%) (below 0%: weak)
Next Y revenue growth (0.32%) (below 0%: weak)
Next 5Y EPS Growth (5.57%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 1.3×; over the ten years it ranged from 0.7× in 2022 to 7.8× in 2019.
P/E against its own 10 years 29.29%
10-year low 10-year high
P/S against its own 10 years 18.72%
10-year low 10-year high
P/B against its own 10 years 15.19%
10-year low 10-year high
EV/Sales against its own 10 years 11.54%
10-year low 10-year high
EV/FCF against its own 10 years 24.65%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 616 481 379 395
Receivables — — — —
Inventory — — — —
Other — — — —
616 481 379 395
2023 2024 2025 Q'26
Payables 68 86 71 65
ST’ Debt — — — —
Other — — — —
234 299 286 274

Compound Annual Growth %

10y 5y 3y
Sales 23.77% 12.27% 3.05%
Cash Flow 0.00% 0.00% 0.00%
Earnings 10.48% 22.53% (2.07%)
Book Value 12.17% 15.20% 13.83%

Revenue $m

Dec Mar Jun Sep Year
’26 273 374 407 — —
’25 250 351 391 671 1,662
’24 306 334 318 551 1,509
’23 217 302 369 550 1,437
’22 408 422 309 381 1,519
’21 307 287 313 419 1,326
’20 247 159 178 348 932
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (157) 152 33 — —
’25 (450) (20) 16 256 (198)
’24 (157) (59) (62) 119 (158)
’23 (50) 71 115 228 364
’22 6 71 (87) 119 109
’21 (159) (91) (91) 38 (303)
’20 (12) (112) (82) 37 (168)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (157) 152 33 — —
’25 (450) (20) 15 260 (195)
’24 (157) (60) (62) 128 (151)
’23 (48) 71 114 227 364
’22 8 70 (87) 119 108
’21 (159) (91) (91) 36 (305)
’20 (10) (111) (84) 39 (168)
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.30 0.63 0.70 — —
’25 0.32 0.62 0.65 1.70 3.29
’24 0.76 0.89 0.76 1.60 4.00
’23 0.42 0.54 0.93 1.44 3.33
’22 0.81 0.96 0.80 1.02 3.59
’21 0.46 0.59 0.32 0.89 2.25
’20 0.35 0.20 0.21 0.50 1.26
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 7.95 12.30 12.77 13.02 9.43 18.41 10.28 13.72 25.27 18.00

Analyst estimates 2026–2028

Powerpack
High 14.05 23.00 26.39 23.00 23.11 26.55 22.60 34.92 40.92 29.44
People
People Employees 59 34 41 78 143 250 291 303 303 433
Revenue/emp, $m 3.34 3.36 1.91 5.49 6.52 5.30 5.22 4.74 4.98 3.84
Income, $m
Income, $m Revenue 197 114 78 428 932 1,326 1,519 1,437 1,509 1,662
Gross margin, % 11.23 1.49 36.78 15.32 12.67 17.29 21.33 21.16 23.80 21.87
EBT 92 52 45 46 78 147 236 222 270 219
EBT margin, % 46.80 45.58 57.09 10.67 8.38 11.06 15.52 15.42 17.89 13.19
Net income 60 52 70 36 62 111 179 167 203 168
Depreciation 11 6 4 7 5 3 3 3 3 4
Per share, $
Per share, $ Revenue 5.71 2.72 1.87 10.20 19.41 27.11 30.50 28.74 29.95 32.66
Earnings 1.74 1.24 1.64 0.79 1.26 2.25 3.59 3.34 4.03 3.30
Cash flow 1.94 (0.36) (6.75) (9.31) (3.51) (6.20) 2.18 7.28 (3.14) (3.88)
Capex (0.19) (0.06) 6.16 (0.02) 0.01 (0.03) (0.01) 0.01 0.14 0.05
Free cash flow 1.75 (0.42) (0.59) (9.34) (3.49) (6.23) 2.18 7.29 (3.00) (3.84)
Book value 16.27 14.39 16.10 19.26 18.16 20.78 24.08 27.40 31.65 34.75
Shares, m 35 42 42 42 48 49 50 50 50 51
Valuation, ×
Valuation, × P/E 0.00 11.72 6.82 23.44 14.05 8.24 3.12 7.95 8.03 8.06
P/S 2.78 7.17 10.95 1.79 0.91 0.69 0.37 0.93 1.08 0.81
P/B 0.89 1.48 1.31 0.95 0.97 0.90 0.46 0.97 1.02 0.77
EV/Sales 2.72 5.02 8.17 1.97 1.18 1.10 0.66 0.98 1.23 1.07
EV/FCF 15.64 (2.17) (4.62) (2.16) (6.59) (4.80) 9.25 3.87 (12.29) (9.52)
Cash, $m
Cash, $m Operating cash flow 67 (15) (283) (391) (168) (303) 109 364 (158) (198)
Capex (7) (2) 258 (1) 1 (2) 0 0 7 2
Free cash flow 60 (18) (25) (392) (168) (305) 108 364 (151) (195)
Balance, $m
Balance, $m Working capital 261 354 282 290 278 (55) 0 382 182 93
Total debt 110 108 112 461 641 705 706 695 706 803
Net debt (156) (255) (223) 78 247 551 441 79 225 424
Shareholders’ equity 562 606 675 809 872 1,016 1,199 1,370 1,595 1,769
Returns, %
Returns, % ROA 8.00 6.73 8.31 2.81 3.81 5.74 8.05 6.93 7.66 5.62
ROIC 21.58 7.09 5.15 2.83 4.09 6.52 8.90 8.97 8.59 6.11
ROE 10.44 8.61 10.75 4.45 7.24 11.68 16.14 12.99 13.72 9.98
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Forestar Group Inc vs peers in Real Estate Development (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VTMX Corporacion Inmobiliaria Vesta, S.A.B. de C.V. Sponsored ADR $3.3B 7.6× — +16.67% (above 0%: growing) +227.19% (above 0%: growing) −32.91% (below 0%: shrinking) 88.89% 77.03% Compare
CCS Century Communities, Inc. $1.6B 11.9× 14.9× −7.34% (below 0%: shrinking) +9.57% (above 0%: growing) −454.02% (below 0%: shrinking) 20.51% 6.77% Compare
FOR Forestar Group Inc $1.3B 7.7× 9.5× +4.23% (above 0%: growing) +7.69% (above 0%: growing) +118.00% (above 0%: growing) 20.66% 11.25%
SKYH Sky Harbour Group Corporation $746.1M 303× — (loss-making) +49.59% (above 0%: growing) n/m +90.92% (above 0%: growing) 100.00% (68.68%) Compare
SDHC Smith Douglas Homes Corp. $531.2M 14.7× 25.8× +21.93% (above 0%: growing) −88.46% (below 0%: shrinking) +112.60% (above 0%: growing) 17.55% 2.49% Compare
XTND Xtend AI Robotics, Inc. $528.2M — (loss-making) — +146.19% (above 0%: growing) n/m −24.75% (below 0%: shrinking) 14.70% (45.00%) Compare
FPH Five Point Holdings, LLC $484.8M 5.8× 38.8× +86.03% (above 0%: growing) +200.00% (above 0%: growing) +85.60% (above 0%: growing) 48.27% (54.55%) Compare
OZ Belpointe PREP, LLC $150.1M — (loss-making) — (loss-making) +168.08% (above 0%: growing) n/m +81.31% (above 0%: growing) 7.71% (176.11%) Compare
AXR AMREP Corporation $107.8M 17.9× 14.3× −66.10% (below 0%: shrinking) −94.32% (below 0%: shrinking) −138.27% (below 0%: shrinking) 37.10% (2.69%) Compare
Median of peers $529.7M 13.3× 20.4× +35.76% +9.57% +28.28% 28.81% (23.84%)

All 15 Real Estate Development stocks →

Forestar Group Inc (FOR) key facts

  • Concern: Net income was $167.9 million, or $3.30 per share (basic), a net margin of 10.1%.
  • Strength: Forestar Group Inc’s revenue for fiscal 2025 (year ended September 2025) was $1.7 billion, up 10.1% from fiscal 2024.
  • Forestar Group Inc (FOR) is a Real Estate Development company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, FOR traded at $25.67, a market capitalization of $1.3 billion.
  • At that price the stock trades at 7.7× trailing-twelve-month earnings and 0.8× sales; its P/E is higher than 29% of its own readings over the past ten years.
  • Return on equity was 9.98% and debt-to-equity 0.43.
  • Its Piotroski F-score is 1 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Forestar Group Inc (FOR) Latest News

No news at this impact. Lower the threshold for more.
stockrow.com/FOR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com