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Forestar Group (FOR) Financials

Forestar Group logo
$25.66 -0.01 (-0.02%)
Closing price 09/23/2025 03:59 PM Eastern
Extended Trading
$25.66 -0.01 (-0.04%)
As of 09/23/2025 05:30 PM Eastern
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Annual Income Statements for Forestar Group

Annual Income Statements for Forestar Group

This table shows Forestar Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2013 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024
Period end date 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Net Income / (Loss) Attributable to Common Shareholders		 29 17 -213 59 50 33 61 110 179 167 203
Consolidated Net Income / (Loss)		 35 17 -212 60 52 36 62 111 179 167 203
Net Income / (Loss) Continuing Operations		 35 37 -26 77 6.30 36 62 111 179 167 203
Total Pre-Tax Income 		42 58 8.89 92 52 46 78 147 236 222 270
Total Revenue		 316 237 186 344 219 437 937 1,330 1,523 1,452 1,539
Net Interest Income / (Expense)		 -20 -30 -34 -20 -8.50 5.50 4.90 1.20 1.00 14 20
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 5.50 4.90 1.20 1.00 14 20
Investment Securities Interest Income		 - - - - - 5.50 4.90 1.20 1.00 14 20
Total Interest Expense		 20 30 34 20 8.50 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 336 268 220 364 228 431 932 1,328 1,522 1,439 1,519
Net Realized & Unrealized Capital Gains on Investments		 5.16 30 1.59 167 113 3.00 0.10 2.50 3.20 1.60 9.50
Other Non-Interest Income		 320 229 212 195 114 428 932 1,326 1,519 1,437 1,509
Total Non-Interest Expense		 290 197 196 260 189 392 859 1,183 1,289 1,231 1,269
Other Operating Expenses		 209 160 135 224 188 392 859 1,165 1,289 1,231 1,269
Nonoperating Income / (Expense), net		 16 17 19 7.84 21 0.50 0.70 0.20 1.20 - 0.00
Income Tax Expense		 7.21 21 35 15 46 9.40 16 36 57 55 67
Basic Earnings per Share		 $0.81 $0.38 ($6.22) $1.40 $1.19 $0.79 $1.26 $2.25 $3.59 $3.34 $4.03
Weighted Average Basic Shares Outstanding		 35.37M 35.32M 34.27M 34.55M 42.14M 41.97M 48.04M 48.90M 49.82M 49.99M 50.43M
Diluted Earnings per Share		 $0.80 $0.38 ($6.22) $1.38 $1.19 $0.79 $1.26 $2.25 $3.59 $3.33 $4.00
Weighted Average Diluted Shares Outstanding		 36.81M 43.60M 34.27M 42.33M 42.38M 42.01M 48.09M 48.98M 49.85M 50.12M 50.79M
Weighted Average Basic & Diluted Shares Outstanding		 34.91M 33.62M 33.91M 41.90M 42.20M 48.01M 48.07M 49.59M 49.77M 49.91M 50.67M

Quarterly Income Statements for Forestar Group

This table shows Forestar Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 21 27 47 72 38 45 39 82 17 32 33
Consolidated Net Income / (Loss)		 21 27 47 72 38 45 39 82 17 32 33
Net Income / (Loss) Continuing Operations		 21 27 47 72 38 45 39 82 17 32 33
Total Pre-Tax Income 		28 36 62 95 51 59 52 108 22 41 44
Total Revenue		 220 304 373 556 312 339 328 560 253 352 392
Net Interest Income / (Expense)		 1.70 2.00 3.80 6.10 6.30 5.00 4.40 4.10 2.30 1.00 1.30
Total Interest Income		 1.70 2.00 3.80 6.10 6.30 5.00 4.40 4.10 2.30 1.00 1.30
Investment Securities Interest Income		 1.70 2.00 3.80 6.10 6.30 5.00 4.40 4.10 2.30 1.00 1.30
Total Interest Expense		 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Non-Interest Income		 218 302 369 550 306 334 323 556 250 351 391
Net Realized & Unrealized Capital Gains on Investments		 1.60 0.00 0.00 - - 0.00 5.00 4.50 - - 0.00
Other Non-Interest Income		 217 302 369 550 306 334 318 551 250 351 391
Total Non-Interest Expense		 192 268 310 461 261 280 276 452 231 311 348
Other Operating Expenses		 192 268 310 461 261 280 276 452 231 310 348
Other Special Charges		 - - - - - - 0.00 - - 1.10 0.00
Nonoperating Income / (Expense), net		 - - - - 0.00 0.00 0.00 - 0.60 0.00 0.00
Income Tax Expense		 7.10 9.00 16 23 13 14 13 27 5.40 9.10 11
Basic Earnings per Share		 $0.42 $0.54 $0.94 $1.44 $0.76 $0.90 $0.76 $1.61 $0.32 $0.62 $0.65
Weighted Average Basic Shares Outstanding		 49.89M 49.94M 50.06M 49.99M 50.07M 50.15M 50.76M 50.43M 50.82M 50.80M 50.93M
Diluted Earnings per Share		 $0.42 $0.54 $0.93 $1.44 $0.76 $0.89 $0.76 $1.59 $0.32 $0.62 $0.65
Weighted Average Diluted Shares Outstanding		 49.90M 50.01M 50.18M 50.12M 50.46M 50.63M 51.06M 50.79M 51.09M 51.05M 51.01M
Weighted Average Basic & Diluted Shares Outstanding		 49.77M 49.90M 49.90M 49.91M 49.91M 50.60M 50.65M 50.67M 50.68M 50.82M 50.83M

Annual Cash Flow Statements for Forestar Group

This table details how cash moves in and out of Forestar Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2013 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024
Period end date 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Net Change in Cash & Equivalents		 182 -22 -74 170 97 48 12 -241 111 351 -135
Net Cash From Operating Activities		 89 107 35 67 -15 -391 -168 -303 109 364 -158
Net Cash From Continuing Operating Activities		 89 107 35 67 -22 -391 -168 -303 109 364 -158
Net Income / (Loss) Continuing Operations		 35 17 -212 60 52 36 62 111 179 167 203
Consolidated Net Income / (Loss)		 35 17 -212 60 52 36 62 111 179 167 203
Depreciation Expense		 30 42 45 11 5.50 6.70 4.90 2.70 2.70 3.00 3.00
Non-Cash Adjustments to Reconcile Net Income		 33 51 217 -0.95 -53 4.10 2.20 21 11 27 -0.10
Changes in Operating Assets and Liabilities, net		 -9.18 -3.15 -14 -3.53 -20 -438 -237 -437 -84 168 -365
Net Cash From Investing Activities		 -104 -130 -60 421 135 -0.80 5.00 1.00 1.30 0.30 7.30
Net Cash From Continuing Investing Activities		 -104 -130 -60 421 135 -0.80 5.00 1.00 1.30 0.30 7.30
Purchase of Property, Leasehold Improvements and Equipment		 -96 -102 -50 -0.58 -2.40 -0.90 -0.60 -1.60 -3.50 -1.30 -2.20
Sale and/or Maturity of Investments		 4.83 24 30 434 142 0.10 5.60 2.60 4.80 1.60 9.50
Net Cash From Financing Activities		 197 0.47 -48 -318 -23 440 175 61 1.20 -13 16
Net Cash From Continuing Financing Activities		 197 0.47 -48 -318 -23 440 175 61 1.20 -13 16
Issuance of Common Equity		 145 - 0.00 - 0.00 101 0.00 33 1.70 0.00 20
Repayment of Debt		 -106 -225 -58 -315 -10 -85 -119 -422 0.00 -13 0.00
Other Financing Activities, Net		 -6.53 -14 -1.73 -2.68 -16 -11 -6.20 -8.00 -0.50 -0.70 -3.40
Cash Income Taxes Paid		 4.96 18 -4.08 10 -2.70 -1.70 -3.10 4.30 42 45 46

Quarterly Cash Flow Statements for Forestar Group

This table details how cash moves in and out of Forestar Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -48 70 114 215 -157 -43 -57 122 -349 42 15
Net Cash From Operating Activities		 -50 71 115 228 -157 -59 -62 119 -450 -20 16
Net Cash From Continuing Operating Activities		 -50 71 115 228 -157 -59 -63 120 -450 -20 16
Net Income / (Loss) Continuing Operations		 21 27 47 72 38 45 39 82 17 32 33
Consolidated Net Income / (Loss)		 21 27 47 72 38 45 39 82 17 32 33
Depreciation Expense		 0.70 0.80 0.80 0.70 0.80 0.60 0.90 0.70 0.80 1.00 0.80
Non-Cash Adjustments to Reconcile Net Income		 1.40 22 1.80 1.30 1.10 2.30 -4.30 0.80 3.10 3.70 3.40
Changes in Operating Assets and Liabilities, net		 -73 21 66 154 -197 -107 -98 37 -470 -56 -21
Net Cash From Investing Activities		 1.50 -0.20 -0.50 -0.50 -0.20 -0.60 4.50 3.60 0.90 -0.70 -0.80
Net Cash From Continuing Investing Activities		 1.50 -0.20 -0.50 -0.50 -0.20 -0.60 4.50 3.60 0.90 -0.70 -0.80
Purchase of Property, Leasehold Improvements and Equipment		 -0.10 -0.20 -0.50 -0.50 -0.20 -0.60 -0.60 -0.80 0.00 -0.70 -0.80
Net Cash From Financing Activities		 -0.10 -0.60 -0.10 -12 -0.20 17 0.20 -0.80 100 63 -0.10
Net Cash From Continuing Financing Activities		 -0.10 -0.60 -0.10 -12 -0.20 17 0.20 -0.80 100 63 -0.10
Issuance of Debt		 - - - - 0.00 - - - 100 645 35
Repayment of Debt		 - - - - - - - - - - -35
Other Financing Activities, Net		 -0.10 -0.60 -0.10 0.10 -0.20 -2.60 0.20 -0.80 -0.10 -7.80 -0.10

Annual Balance Sheets for Forestar Group

This table presents Forestar Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 9/30/2018 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Total Assets		 1,258 972 733 762 893 1,456 1,740 2,102 2,343 2,471 2,840
Cash and Due from Banks		 170 96 266 323 319 383 394 154 265 616 481
Trading Account Securities		 65 82 78 65 12 7.30 3.60 0.90 0.50 0.50 0.30
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 851 597 296 132 500 1,031 1,311 1,908 2,028 1,796 2,273
Other Assets		 106 152 56 201 47 34 31 39 50 58 85
Total Liabilities & Shareholders' Equity		 1,258 972 733 762 893 1,456 1,740 2,102 2,343 2,471 2,840
Total Liabilities		 548 468 171 156 219 647 868 1,086 1,144 1,101 1,245
Short-Term Debt		 - - - - - - - 47 72 68 86
Other Short-Term Payables		 - 17 8.93 11 58 96 79 57 70 61 68
Long-Term Debt		 433 382 110 108 112 461 641 705 706 695 706
Other Long-Term Liabilities		 102 56 40 23 - 90 148 277 295 276 384
Commitments & Contingencies		 0.00 0.00 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 710 504 562 606 675 809 872 1,016 1,199 1,370 1,595
Total Preferred & Common Equity		 707 502 561 604 673 808 871 1,015 1,198 1,369 1,594
Total Common Equity		 707 502 561 604 673 808 871 1,015 1,198 1,369 1,594
Common Stock		 596 599 598 548 548 650 652 686 690 694 716
Retained Earnings		 167 -46 13 56 125 158 219 329 508 675 878
Noncontrolling Interest		 2.54 2.52 1.47 1.42 1.20 0.60 0.90 1.00 1.00 1.00 1.00

Quarterly Balance Sheets for Forestar Group

This table presents Forestar Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 6/30/2022 12/31/2022 3/31/2023 6/30/2023 12/31/2023 3/31/2024 6/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 2,268 2,341 2,336 2,375 2,534 2,599 2,675 2,961 3,043 3,120
Cash and Due from Banks		 146 216 287 401 459 416 359 132 174 189
Trading Account Securities		 0.40 0.50 0.50 0.50 0.50 0.50 0.30 0.00 0.00 0.00
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 2,060 2,073 1,994 1,915 2,016 2,122 2,245 2,744 2,767 2,831
Other Assets		 61 51 56 59 59 60 70 85 102 100
Total Liabilities & Shareholders' Equity		 2,268 2,341 2,336 2,375 2,534 2,599 2,675 2,961 3,043 3,120
Total Liabilities		 1,120 1,121 1,088 1,079 1,125 1,126 1,162 1,347 1,397 1,440
Short-Term Debt		 64 73 68 69 65 62 71 79 70 67
Other Short-Term Payables		 68 61 48 54 63 56 56 56 44 64
Long-Term Debt		 706 706 707 707 705 706 706 807 873 873
Other Long-Term Liabilities		 283 281 265 249 291 303 329 405 410 437
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,148 1,221 1,249 1,297 1,409 1,473 1,513 1,614 1,646 1,680
Total Preferred & Common Equity		 1,147 1,220 1,248 1,296 1,408 1,472 1,512 1,613 1,645 1,679
Total Common Equity		 1,147 1,220 1,248 1,296 1,408 1,472 1,512 1,613 1,645 1,679
Common Stock		 690 691 692 693 695 714 715 718 719 720
Retained Earnings		 457 529 556 602 713 758 797 895 926 959
Noncontrolling Interest		 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00

Annual Metrics And Ratios for Forestar Group

This table displays calculated financial ratios and metrics derived from Forestar Group's official financial filings.

Metric 2013 2014 2015 2016 2017 2019 2020 2021 2022 2023 2024
Period end date 12/31/2013 12/31/2014 12/31/2015 12/31/2016 12/31/2017 9/30/2019 9/30/2020 9/30/2021 9/30/2022 9/30/2023 9/30/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 76.44% -24.92% -21.61% 84.89% -36.29% 0.00% 114.47% 41.92% 14.58% -4.67% 5.96%
EBITDA Growth		 111.59% 44.98% -57.36% 174.45% -62.27% 0.00% 58.57% 81.17% 59.15% -5.35% 21.59%
EBIT Growth		 240.59% 51.56% -125.14% 934.70% -63.67% 0.00% 71.24% 89.15% 60.25% -5.54% 21.89%
NOPAT Growth		 309.20% 16.52% 16.36% 135.92% -94.73% 0.00% 70.31% 80.47% 61.21% -6.18% 21.87%
Net Income Growth		 96.13% -51.26% -1,342.81% 128.34% -13.09% 0.00% 69.97% 79.09% 61.81% -6.66% 21.87%
EPS Growth		 122.22% -52.50% -1,736.84% 122.19% -13.77% 0.00% 59.49% 78.57% 59.56% -7.24% 20.12%
Operating Cash Flow Growth		 499.57% 20.62% -67.20% 91.17% -122.79% 0.00% 56.95% -79.99% 135.86% 234.96% -143.50%
Free Cash Flow Firm Growth		 -149.54% 80.28% 751.68% -1.08% -113.35% 0.00% 0.00% 20.73% 77.99% 134.89% -556.76%
Invested Capital Growth		 29.63% 6.50% -22.48% -24.07% 6.18% 0.00% 19.18% 16.85% 11.86% 7.88% 11.91%
Revenue Q/Q Growth		 2.46% -28.36% 79.97% 70.30% -42.38% 0.00% 12.98% 5.85% -2.52% 13.59% 0.26%
EBITDA Q/Q Growth		 31.84% -8.09% 79.52% 20.09% -65.07% 0.00% 17.74% 22.21% 3.17% 14.88% 5.00%
EBIT Q/Q Growth		 74.56% -22.27% 66.15% 36.94% -68.66% 0.00% 21.32% 22.82% 3.17% 15.12% 5.06%
NOPAT Q/Q Growth		 74.77% -25.38% 242.73% 18.21% -94.05% 0.00% 19.23% 22.14% 3.68% 14.87% 4.68%
Net Income Q/Q Growth		 8.13% -61.96% 2.93% 459.91% -53.26% 0.00% 23.40% 21.70% 3.89% 14.87% 4.68%
EPS Q/Q Growth		 8.11% -61.62% -1.80% 7,000.00% -54.41% 0.00% 17.76% 20.32% 4.06% 14.43% 3.90%
Operating Cash Flow Q/Q Growth		 110.30% 33.72% -36.89% -16.04% -139.91% 0.00% -14.71% 0.07% 298.17% 42.73% -218.71%
Free Cash Flow Firm Q/Q Growth		 -112.94% 80.44% 36.49% -24.12% 30.89% 0.00% 0.00% -49.55% 55.34% 214.43% -117.60%
Invested Capital Q/Q Growth		 17.21% -2.74% -6.15% 6.82% -4.38% 0.00% 1.71% 5.57% 3.14% 2.94% 4.26%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 17.89% 34.54% 18.79% 27.89% 16.51% 11.88% 8.79% 11.21% 15.58% 15.47% 17.75%
EBIT Margin		 8.40% 16.97% -5.44% 24.56% 14.01% 10.35% 8.26% 11.01% 15.40% 15.26% 17.55%
Profit (Net Income) Margin		 11.09% 7.20% -114.12% 17.49% 23.86% 8.31% 6.59% 8.31% 11.74% 11.49% 13.22%
Tax Burden Percent		 82.95% 29.69% -2,388.88% 65.17% 100.38% 79.43% 79.00% 75.38% 75.83% 75.32% 75.31%
Interest Burden Percent		 159.07% 142.89% -87.81% 109.28% 169.71% 101.11% 100.90% 100.14% 100.51% 100.00% 100.00%
Effective Tax Rate		 17.05% 36.23% 395.17% 16.57% 87.91% 20.57% 21.00% 24.62% 24.17% 24.68% 24.69%
Return on Invested Capital (ROIC)		 2.32% 2.32% 2.95% 9.05% 0.54% 2.83% 4.40% 6.73% 9.50% 8.12% 9.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.32% 0.14% -56.56% 4.85% 44.95% 2.91% 4.50% 6.75% 9.62% 8.12% 9.00%
Return on Net Nonoperating Assets (RNNOA)		 3.29% 0.08% -37.94% 2.24% 8.42% 1.66% 2.95% 4.98% 6.64% 4.87% 4.72%
Return on Equity (ROE)		 5.61% 2.40% -34.99% 11.29% 8.96% 4.49% 7.34% 11.71% 16.14% 12.99% 13.72%
Cash Return on Invested Capital (CROIC)		 -23.48% -3.97% 28.28% 36.41% -5.46% 0.00% -13.11% -8.81% -1.70% 0.54% -2.24%
Operating Return on Assets (OROA)		 2.54% 3.31% -0.91% 9.91% 4.11% 3.85% 4.84% 7.62% 10.56% 9.21% 10.17%
Return on Assets (ROA)		 3.35% 1.41% -19.04% 7.06% 7.00% 3.09% 3.86% 5.75% 8.05% 6.93% 7.66%
Return on Common Equity (ROCE)		 5.57% 2.38% -34.85% 11.25% 8.94% 4.48% 7.34% 11.70% 16.13% 12.98% 13.71%
Return on Equity Simple (ROE_SIMPLE)		 4.94% 2.42% -42.34% 10.73% 8.66% 4.49% 7.08% 10.89% 14.92% 12.19% 12.76%
Net Operating Profit after Tax (NOPAT)		 22 26 30 71 3.71 36 61 110 178 167 203
NOPAT Margin		 6.97% 10.82% 16.06% 20.49% 1.69% 8.22% 6.53% 8.30% 11.68% 11.49% 13.22%
Net Nonoperating Expense Percent (NNEP)		 -4.00% 2.18% 59.50% 4.20% -44.42% -0.09% -0.10% -0.02% -0.12% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 91.60% 83.03% 105.44% 75.44% 85.99% 89.65% 91.74% 88.99% 84.60% 84.74% 82.45%
Earnings before Interest and Taxes (EBIT)		 27 40 -10 85 31 45 77 146 235 222 270
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 57 82 35 96 36 52 82 149 237 225 273
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.04 0.76 0.73 0.80 1.53 0.95 0.98 0.91 0.46 0.98 1.03
Price to Tangible Book Value (P/TBV)		 1.15 0.84 0.80 0.86 1.53 0.95 0.98 0.91 0.46 0.98 1.03
Price to Revenue (P/Rev)		 2.34 2.27 1.98 1.30 4.21 1.76 0.91 0.69 0.37 0.93 1.07
Price to Earnings (P/E)		 25.21 32.46 0.00 7.65 18.34 23.24 13.99 8.37 3.11 8.06 8.06
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.97% 3.08% 0.00% 13.08% 5.45% 4.30% 7.15% 11.94% 32.11% 12.41% 12.41%
Enterprise Value to Invested Capital (EV/IC)		 0.85 0.70 0.74 0.44 0.94 0.67 0.73 0.86 0.54 0.70 0.82
Enterprise Value to Revenue (EV/Rev)		 2.88 3.38 3.52 0.86 3.05 1.94 1.17 1.14 0.70 1.03 1.27
Enterprise Value to EBITDA (EV/EBITDA)		 16.09 9.80 18.75 3.07 18.49 16.29 13.35 10.21 4.51 6.65 7.15
Enterprise Value to EBIT (EV/EBIT)		 34.24 19.95 0.00 3.48 21.80 18.70 14.19 10.40 4.57 6.74 7.23
Enterprise Value to NOPAT (EV/NOPAT)		 41.27 31.29 21.93 4.17 180.28 23.54 17.96 13.79 6.02 8.94 9.60
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.25 7.50 18.66 4.38 0.00 0.00 0.00 0.00 9.85 4.10 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 2.29 1.04 0.00 0.00 0.00 0.00 0.00 134.49 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.50 0.61 0.76 0.20 0.18 0.57 0.74 0.74 0.65 0.56 0.50
Long-Term Debt to Equity		 0.50 0.61 0.76 0.20 0.18 0.57 0.74 0.69 0.59 0.51 0.44
Financial Leverage		 0.52 0.55 0.67 0.46 0.19 0.57 0.66 0.74 0.69 0.60 0.52
Leverage Ratio		 1.67 1.71 1.84 1.60 1.28 1.58 1.90 2.04 2.01 1.87 1.79
Compound Leverage Factor		 2.66 2.44 -1.61 1.75 2.17 1.60 1.92 2.04 2.02 1.87 1.79
Debt to Total Capital		 33.32% 37.88% 43.08% 16.41% 15.18% 36.28% 42.38% 42.53% 39.35% 35.78% 33.19%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.68% 3.65% 3.21% 3.60%
Long-Term Debt to Total Capital		 33.32% 37.88% 43.08% 16.41% 15.18% 36.28% 42.38% 39.85% 35.70% 32.58% 29.59%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.52% 0.22% 0.28% 0.22% 0.20% 0.05% 0.06% 0.06% 0.05% 0.05% 0.04%
Common Equity to Total Capital		 66.17% 61.90% 56.64% 83.37% 84.62% 63.68% 57.56% 57.41% 60.60% 64.17% 66.77%
Debt to EBITDA		 6.32 5.28 10.91 1.15 3.00 8.87 7.79 5.04 3.28 3.40 2.90
Net Debt to EBITDA		 2.92 3.20 8.15 -1.62 -7.04 1.50 3.00 4.01 2.16 0.66 1.14
Long-Term Debt to EBITDA		 6.32 5.28 10.91 1.15 3.00 8.87 7.79 4.73 2.98 3.09 2.59
Debt to NOPAT		 16.22 16.85 12.77 1.57 29.21 12.83 10.48 6.81 4.37 4.57 3.90
Net Debt to NOPAT		 7.49 10.23 9.54 -2.21 -68.64 2.16 4.04 5.42 2.89 0.88 1.53
Long-Term Debt to NOPAT		 16.22 16.85 12.77 1.57 29.21 12.83 10.48 6.38 3.97 4.16 3.47
Noncontrolling Interest Sharing Ratio		 0.77% 0.57% 0.42% 0.37% 0.25% 0.12% 0.09% 0.10% 0.09% 0.08% 0.07%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -223 -44 287 284 -38 0.00 -182 -145 -32 11 -51
Operating Cash Flow to CapEx		 92.41% 104.73% 70.65% 11,597.41% -637.50% -43,466.67% -28,066.67% -18,943.75% 3,105.71% 28,007.69% -7,200.00%
Free Cash Flow to Firm to Interest Expense		 -11.16 -1.45 8.42 14.19 -4.46 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 4.44 3.54 1.03 3.36 -1.80 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -0.36 0.16 -0.43 3.33 -2.08 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.30 0.20 0.17 0.40 0.29 0.37 0.59 0.69 0.69 0.60 0.58
Fixed Asset Turnover		 0.44 0.30 0.26 0.77 1.02 0.57 0.80 0.83 0.77 0.76 0.76
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,073 1,142 886 672 714 1,269 1,513 1,768 1,978 2,133 2,387
Invested Capital Turnover		 0.33 0.21 0.18 0.44 0.32 0.34 0.67 0.81 0.81 0.71 0.68
Increase / (Decrease) in Invested Capital		 245 70 -257 -213 42 0.00 244 255 210 156 254
Enterprise Value (EV)		 910 804 655 294 669 845 1,098 1,522 1,071 1,493 1,952
Market Capitalization		 739 538 368 449 923 767 851 923 557 1,344 1,640
Book Value per Share		 $20.43 $20.23 $14.92 $16.63 $14.41 $19.26 $18.12 $20.49 $24.08 $27.43 $31.47
Tangible Book Value per Share		 $18.51 $18.34 $13.63 $15.50 $14.40 $19.26 $18.12 $20.49 $24.08 $27.43 $31.47
Total Capital		 1,073 1,142 886 672 714 1,269 1,513 1,768 1,978 2,133 2,387
Total Debt		 357 433 382 110 108 461 641 752 778 763 792
Total Long-Term Debt		 357 433 382 110 108 461 641 705 706 695 706
Net Debt		 165 263 285 -156 -255 78 247 598 513 147 311
Capital Expenditures (CapEx)		 96 102 50 0.58 2.40 0.90 0.60 1.60 3.50 1.30 2.20
Net Nonoperating Expense (NNE)		 -13 8.59 242 10 -49 -0.40 -0.55 -0.15 -0.91 0.00 0.00
Net Nonoperating Obligations (NNO)		 357 433 382 110 108 461 641 752 778 763 792
Total Depreciation and Amortization (D&A)		 30 42 45 11 5.50 6.70 4.90 2.70 2.70 3.00 3.00
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.81 $0.38 ($6.22) $1.40 $1.19 $0.79 $1.26 $2.25 $3.59 $3.34 $4.03
Adjusted Weighted Average Basic Shares Outstanding		 35.37M 35.32M 34.27M 34.55M 42.14M 41.97M 48.04M 48.90M 49.82M 49.99M 50.43M
Adjusted Diluted Earnings per Share		 $0.80 $0.38 ($6.22) $1.38 $1.19 $0.79 $1.26 $2.25 $3.59 $3.33 $4.00
Adjusted Weighted Average Diluted Shares Outstanding		 36.81M 43.60M 34.27M 42.33M 42.38M 42.01M 48.09M 48.98M 49.85M 50.12M 50.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.79 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 34.91M 33.62M 33.91M 41.69M 41.94M 48.01M 48.07M 49.59M 49.77M 49.91M 50.67M
Normalized Net Operating Profit after Tax (NOPAT)		 22 26 -7.09 100 22 36 61 124 178 167 203
Normalized NOPAT Margin		 6.97% 10.82% -3.81% 29.19% 10.00% 8.22% 6.53% 9.33% 11.68% 11.49% 13.22%
Pre Tax Income Margin		 13.37% 24.24% 4.78% 26.84% 23.77% 10.46% 8.34% 11.03% 15.48% 15.26% 17.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.33 1.33 -0.30 4.23 3.61 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 1.10 0.85 0.88 3.53 0.44 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -3.47 -2.05 -1.76 4.20 3.33 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -3.70 -2.53 -0.58 3.50 0.15 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 143.93% 0.00% 5.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Forestar Group

This table displays calculated financial ratios and metrics derived from Forestar Group's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -46.09% -28.01% 19.69% 45.45% 41.91% 11.63% -12.05% 0.72% -19.06% 3.90% 19.52%
EBITDA Growth		 -46.24% -42.39% 18.35% 43.43% 81.82% 62.13% -16.93% 13.53% -57.50% -29.92% -15.43%
EBIT Growth		 -46.76% -43.20% 18.41% 43.89% 83.51% 64.07% -17.31% 13.63% -58.40% -30.90% -15.50%
NOPAT Growth		 -47.56% -43.72% 17.88% 42.73% 83.65% 67.29% -17.31% 12.57% -57.99% -29.78% -14.99%
Net Income Growth		 -48.64% -43.72% 17.88% 42.52% 83.65% 67.29% -17.31% 12.57% -56.81% -29.78% -14.99%
EPS Growth		 -48.15% -43.75% 16.25% 41.18% 80.95% 64.81% -18.28% 10.42% -57.89% -30.34% -14.47%
Operating Cash Flow Growth		 -958.62% 0.42% 232.37% 91.67% -214.66% -183.26% -153.70% -47.70% -187.17% 66.55% 125.61%
Free Cash Flow Firm Growth		 -23.07% 42.14% 46.73% 47.54% 34.60% -34.27% -65.34% -106.95% -115.33% -84.01% -66.29%
Invested Capital Growth		 13.42% 8.30% 8.08% 7.88% 8.97% 10.73% 10.50% 11.91% 14.69% 15.54% 14.43%
Revenue Q/Q Growth		 -42.44% 37.95% 22.80% 49.15% -43.84% 8.52% -3.25% 70.81% -54.87% 39.30% 11.31%
EBITDA Q/Q Growth		 -57.31% 28.32% 72.21% 52.06% -45.89% 14.42% -11.76% 107.81% -79.74% 88.69% 6.47%
EBIT Q/Q Growth		 -57.92% 28.67% 73.82% 52.88% -46.33% 15.04% -12.39% 110.08% -80.35% 91.08% 7.13%
NOPAT Q/Q Growth		 -58.99% 29.33% 73.98% 54.70% -47.24% 17.80% -14.00% 110.59% -80.31% 96.91% 4.11%
Net Income Q/Q Growth		 -59.06% 29.33% 73.98% 54.70% -47.24% 17.80% -14.00% 110.59% -79.75% 91.52% 4.11%
EPS Q/Q Growth		 -58.82% 28.57% 72.22% 54.84% -47.22% 17.11% -14.61% 109.21% -79.87% 93.75% 4.84%
Operating Cash Flow Q/Q Growth		 -141.88% 242.77% 61.60% 98.35% -168.76% 62.22% -4.22% 293.19% -477.52% 95.60% 179.80%
Free Cash Flow Firm Q/Q Growth		 -35.81% 40.67% 15.53% 22.92% -69.30% -21.81% -4.01% 3.52% -76.16% -4.09% 6.00%
Invested Capital Q/Q Growth		 1.14% 1.17% 2.42% 2.94% 2.16% 2.79% 2.21% 4.26% 4.70% 3.56% 1.23%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 13.00% 12.09% 16.96% 17.29% 16.66% 17.56% 16.02% 19.49% 8.75% 11.85% 11.33%
EBIT Margin		 12.68% 11.83% 16.74% 17.16% 16.40% 17.38% 15.74% 19.36% 8.43% 11.56% 11.13%
Profit (Net Income) Margin		 9.45% 8.86% 12.56% 13.02% 12.24% 13.28% 11.81% 14.56% 6.53% 8.98% 8.40%
Tax Burden Percent		 74.55% 74.93% 75.00% 75.89% 74.61% 76.40% 75.00% 75.18% 75.34% 77.64% 75.46%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 102.82% 100.00% 100.00%
Effective Tax Rate		 25.45% 25.07% 25.00% 24.11% 25.39% 23.60% 25.00% 24.82% 24.66% 22.36% 24.54%
Return on Invested Capital (ROIC)		 6.71% 5.54% 8.05% 9.20% 9.04% 9.84% 8.31% 9.91% 4.02% 5.55% 5.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.71% 5.54% 8.05% 9.20% 9.04% 9.84% 8.31% 9.91% 4.07% 5.55% 5.32%
Return on Net Nonoperating Assets (RNNOA)		 4.37% 3.61% 5.09% 5.52% 5.33% 5.58% 4.59% 5.20% 2.23% 3.04% 2.86%
Return on Equity (ROE)		 11.08% 9.16% 13.13% 14.72% 14.37% 15.42% 12.90% 15.11% 6.25% 8.59% 8.19%
Cash Return on Invested Capital (CROIC)		 -4.12% -0.86% -0.49% 0.54% 0.23% -0.68% -1.07% -2.24% -5.94% -7.47% -6.86%
Operating Return on Assets (OROA)		 7.52% 6.30% 9.22% 10.35% 10.39% 11.13% 9.57% 11.22% 4.54% 6.12% 5.98%
Return on Assets (ROA)		 5.61% 4.72% 6.91% 7.86% 7.75% 8.50% 7.18% 8.43% 3.52% 4.75% 4.51%
Return on Common Equity (ROCE)		 11.07% 9.15% 13.12% 14.71% 14.36% 15.41% 12.89% 15.10% 6.24% 8.59% 8.18%
Return on Equity Simple (ROE_SIMPLE)		 13.05% 11.08% 11.22% 0.00% 13.09% 13.75% 12.85% 0.00% 11.26% 10.23% 9.68%
Net Operating Profit after Tax (NOPAT)		 21 27 47 72 38 45 39 82 16 32 33
NOPAT Margin		 9.45% 8.86% 12.56% 13.02% 12.24% 13.28% 11.81% 14.56% 6.35% 8.98% 8.40%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -0.05% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 87.32% 88.17% 83.26% 82.84% 83.60% 82.62% 84.26% 80.64% 91.57% 88.44% 88.87%
Earnings before Interest and Taxes (EBIT)		 28 36 62 95 51 59 52 108 21 41 44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 29 37 63 96 52 60 53 109 22 42 44
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.63 0.62 0.87 0.98 1.17 1.36 1.07 1.03 0.81 0.65 0.61
Price to Tangible Book Value (P/TBV)		 0.63 0.62 0.87 0.98 1.17 1.36 1.07 1.03 0.81 0.65 0.61
Price to Revenue (P/Rev)		 0.57 0.64 0.88 0.93 1.07 1.27 1.05 1.07 0.89 0.72 0.65
Price to Earnings (P/E)		 4.82 5.60 7.74 8.06 8.95 9.91 8.33 8.06 7.23 6.37 6.26
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 20.74% 17.84% 12.91% 12.41% 11.17% 10.09% 12.00% 12.41% 13.83% 15.71% 15.99%
Enterprise Value to Invested Capital (EV/IC)		 0.67 0.62 0.72 0.70 0.90 1.05 0.89 0.82 0.83 0.71 0.67
Enterprise Value to Revenue (EV/Rev)		 1.00 1.04 1.17 1.03 1.27 1.49 1.33 1.27 1.40 1.23 1.14
Enterprise Value to EBITDA (EV/EBITDA)		 6.26 6.80 7.68 6.65 7.92 8.71 7.83 7.15 8.50 8.17 8.14
Enterprise Value to EBIT (EV/EBIT)		 6.33 6.91 7.80 6.74 8.02 8.80 7.93 7.23 8.61 8.29 8.26
Enterprise Value to NOPAT (EV/NOPAT)		 8.37 9.14 10.33 8.94 10.65 11.65 10.49 9.60 11.41 10.97 10.91
Enterprise Value to Operating Cash Flow (EV/OCF)		 25.06 23.66 5.88 4.10 7.63 18.58 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 134.49 400.62 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.64 0.62 0.60 0.56 0.55 0.52 0.51 0.50 0.55 0.57 0.56
Long-Term Debt to Equity		 0.58 0.57 0.55 0.51 0.50 0.48 0.47 0.44 0.50 0.53 0.52
Financial Leverage		 0.65 0.65 0.63 0.60 0.59 0.57 0.55 0.52 0.55 0.55 0.54
Leverage Ratio		 1.98 1.94 1.90 1.87 1.85 1.81 1.80 1.79 1.82 1.81 1.81
Compound Leverage Factor		 1.98 1.94 1.90 1.87 1.85 1.81 1.80 1.79 1.87 1.81 1.81
Debt to Total Capital		 38.97% 38.28% 37.44% 35.78% 35.36% 34.25% 33.93% 33.19% 35.42% 36.41% 35.87%
Short-Term Debt to Total Capital		 3.65% 3.35% 3.31% 3.21% 3.00% 2.75% 3.10% 3.60% 3.14% 2.70% 2.56%
Long-Term Debt to Total Capital		 35.32% 34.93% 34.13% 32.58% 32.36% 31.50% 30.84% 29.59% 32.28% 33.71% 33.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.05% 0.05% 0.05% 0.05% 0.05% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04%
Common Equity to Total Capital		 60.98% 61.67% 62.52% 64.17% 64.60% 65.70% 66.02% 66.77% 64.54% 63.55% 64.09%
Debt to EBITDA		 3.66 4.17 3.97 3.40 3.11 2.83 2.99 2.90 3.64 4.18 4.33
Net Debt to EBITDA		 2.65 2.63 1.92 0.66 1.26 1.30 1.61 1.14 3.10 3.41 3.46
Long-Term Debt to EBITDA		 3.32 3.81 3.62 3.09 2.84 2.61 2.71 2.59 3.32 3.87 4.02
Debt to NOPAT		 4.90 5.60 5.34 4.57 4.18 3.79 4.00 3.90 4.89 5.62 5.80
Net Debt to NOPAT		 3.54 3.53 2.58 0.88 1.69 1.74 2.15 1.53 4.16 4.58 4.63
Long-Term Debt to NOPAT		 4.44 5.11 4.87 4.16 3.83 3.49 3.63 3.47 4.45 5.20 5.39
Noncontrolling Interest Sharing Ratio		 0.09% 0.08% 0.08% 0.08% 0.08% 0.07% 0.07% 0.07% 0.07% 0.06% 0.06%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -216 -128 -108 -83 -141 -172 -179 -173 -304 -317 -298
Operating Cash Flow to CapEx		 -49,800.00% 35,550.00% 22,980.00% 45,580.00% -78,350.00% -9,866.67% -10,283.33% 14,900.00% 0.00% -2,828.57% 1,975.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.59 0.53 0.55 0.60 0.63 0.64 0.61 0.58 0.54 0.53 0.54
Fixed Asset Turnover		 0.66 0.61 0.64 0.76 0.76 0.77 0.74 0.76 0.62 0.61 0.61
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,000 2,023 2,072 2,133 2,179 2,240 2,290 2,387 2,500 2,588 2,620
Invested Capital Turnover		 0.71 0.63 0.64 0.71 0.74 0.74 0.70 0.68 0.63 0.62 0.63
Increase / (Decrease) in Invested Capital		 237 155 155 156 179 217 218 254 320 348 330
Enterprise Value (EV)		 1,331 1,263 1,501 1,493 1,963 2,358 2,038 1,952 2,068 1,840 1,768
Market Capitalization		 767 774 1,125 1,344 1,650 2,006 1,619 1,640 1,313 1,071 1,016
Book Value per Share		 $24.51 $25.07 $25.96 $27.43 $28.12 $29.49 $29.88 $31.47 $31.84 $32.46 $33.04
Tangible Book Value per Share		 $24.51 $25.07 $25.96 $27.43 $28.12 $29.49 $29.88 $31.47 $31.84 $32.46 $33.04
Total Capital		 2,000 2,023 2,072 2,133 2,179 2,240 2,290 2,387 2,500 2,588 2,620
Total Debt		 779 775 776 763 771 767 777 792 885 943 940
Total Long-Term Debt		 706 707 707 695 705 706 706 706 807 873 873
Net Debt		 563 488 375 147 312 351 418 311 753 768 751
Capital Expenditures (CapEx)		 0.10 0.20 0.50 0.50 0.20 0.60 0.60 0.80 0.00 0.70 0.80
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.45 0.00 0.00
Net Nonoperating Obligations (NNO)		 779 775 776 763 771 767 777 792 885 943 940
Total Depreciation and Amortization (D&A)		 0.70 0.80 0.80 0.70 0.80 0.60 0.90 0.70 0.80 1.00 0.80
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.42 $0.54 $0.94 $1.44 $0.76 $0.90 $0.76 $1.61 $0.32 $0.62 $0.65
Adjusted Weighted Average Basic Shares Outstanding		 49.89M 49.94M 50.06M 49.99M 50.07M 50.15M 50.76M 50.43M 50.82M 50.80M 50.93M
Adjusted Diluted Earnings per Share		 $0.42 $0.54 $0.93 $1.44 $0.76 $0.89 $0.76 $1.59 $0.32 $0.62 $0.65
Adjusted Weighted Average Diluted Shares Outstanding		 49.90M 50.01M 50.18M 50.12M 50.46M 50.63M 51.06M 50.79M 51.09M 51.05M 51.01M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 49.77M 49.90M 49.90M 49.91M 49.91M 50.60M 50.65M 50.67M 50.68M 50.82M 50.83M
Normalized Net Operating Profit after Tax (NOPAT)		 21 27 47 72 38 45 39 82 16 32 33
Normalized NOPAT Margin		 9.45% 8.86% 12.56% 13.02% 12.24% 13.28% 11.81% 14.56% 6.35% 9.22% 8.40%
Pre Tax Income Margin		 12.68% 11.83% 16.74% 17.16% 16.40% 17.38% 15.74% 19.36% 8.67% 11.56% 11.13%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Forestar Group Inc. (NYSE: FOR) has shown notable financial performance trends from Q3 2022 through Q3 2025. Below is an analysis of key financial metrics and statements over this period.

  • Consistent Net Income Growth: The company's consolidated net income improved steadily from $20.8 million in Q1 2023 to $32.9 million in Q3 2025, indicating ongoing profitability growth.
  • Rising Earnings Per Share (EPS): Diluted EPS increased from around $0.42 in Q1 2023 to $0.65 by Q3 2025, reflecting improved profitability on a per-share basis.
  • Increasing Total Revenue: Total revenue rose from about $220 million in early 2023 to nearly $392 million in Q3 2025, driven by growth in both interest and non-interest income streams.
  • Strong Cash Flow from Operating Activities: Despite some quarterly fluctuations, operating cash flows turned positive and reached $15.8 million in Q3 2025, showing improved operational efficiency.
  • Growing Shareholders’ Equity: Total common equity rose from approximately $1.22 billion in early 2023 to over $1.68 billion by Q3 2025, indicating strengthening of the company's financial foundation.
  • Stable Debt Levels: Long-term debt remained steady around $700 million to $870 million from 2023 to 2025 with some increase in short-term debt; the company appears to manage its leverage cautiously.
  • Depreciation and Non-Cash Adjustments Fluctuate: Depreciation expense generally ranged between $0.7 million to $1 million per quarter, while non-cash adjustments varied, indicating standard asset wear and accounting entries.
  • Volatile Changes in Working Capital: Changes in operating assets and liabilities have been volatile, with some quarters experiencing large negative adjustments (e.g., -$470 million in Q1 2025), which can impact liquidity.
  • Occasional Negative Cash Flow from Operations: Several quarters, including Q1 2025, saw negative cash flows from continuing operating activities, signaling potential short-term cash challenges.

Summary: Forestar Group’s financials reflect a company with strengthening profitability and equity base over the last few years. Revenue growth and steady earnings improvements are encouraging signs for investors. While operational cash flow has some volatility, the overall trend suggests improving cash generation ability. The stable debt profile and increasing equity indicate sound capital management. Investors should monitor quarterly working capital changes and operating cash flow consistency for potential risks.

09/24/25 06:37 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Forestar Group's Financials

When does Forestar Group's fiscal year end?

According to the most recent income statement we have on file, Forestar Group's financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Forestar Group's net income changed over the last 10 years?

Forestar Group's net income appears to be on an upward trend, with a most recent value of $203.40 million in 2024, rising from $35.06 million in 2013. The previous period was $166.90 million in 2023. View Forestar Group's forecast to see where analysts expect Forestar Group to go next.

How has Forestar Group's revenue changed over the last 10 years?

Over the last 10 years, Forestar Group's total revenue changed from $316.20 million in 2013 to $1.54 billion in 2024, a change of 386.6%.

How much debt does Forestar Group have?

Forestar Group's total liabilities were at $1.25 billion at the end of 2024, a 13.1% increase from 2023, and a 127.0% increase since 2014.

How much cash does Forestar Group have?

In the past 10 years, Forestar Group's cash and equivalents has ranged from $96.44 million in 2015 to $616 million in 2023, and is currently $481.20 million as of their latest financial filing in 2024.

How has Forestar Group's book value per share changed over the last 10 years?

Over the last 10 years, Forestar Group's book value per share changed from 20.43 in 2013 to 31.47 in 2024, a change of 54.1%.


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This page (NYSE:FOR) was last updated on 9/24/2025 by MarketBeat.com Staff
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