# Forestar Group Inc. (FOR)

> Source: Nexqual · https://nexqual.com/FOR · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Forestar Group Inc. (FOR), nexqual.com/FOR" · informational, not investment advice.

**Price:** USD 25.69 (+3.88% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 24.73 · day 24.75–25.98 · 52w 22.81–32.06 · market cap $1.31B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.72B, net income $170M (9.9% margin), free cash flow $283M (SEC filings).
- Valuation: P/E 7.7x (avg 8.1x at the last 3 fiscal year-ends), net debt $399M.
- Total return with dividends: 1Y -0.3% vs S&P 500 +18.1%; 5Y +31.7% vs S&P 500 +85.1%.
- Next earnings: 2026-10-29, EPS estimate USD 1.25, revenue estimate $603M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.33B | $1.52B | $1.44B | $1.51B | $1.66B | $1.72B |
| Gross profit | $229M | $324M | $304M | $359M | $364M | — |
| Net income | $110M | $179M | $167M | $203M | $168M | $170M |
| EPS (diluted) | $2.25 | $3.59 | $3.33 | $4.00 | $3.29 | — |
| Free cash flow | -$305M | $105M | $363M | -$161M | -$200M | $283M |
| Gross margin | 17.3% | 21.3% | 21.2% | 23.8% | 21.9% | — |
| Net margin | 8.3% | 11.8% | 11.6% | 13.5% | 10.1% | 9.9% |
| Revenue growth | +42.3% | +14.6% | -5.4% | +5.0% | +10.1% | — |
| Cash + short-term investments | $154M | $265M | $616M | $481M | $379M | — |
| Total debt | $705M | $706M | $695M | $706M | $803M | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 7.7x · P/S 0.8x · EV/Sales 1.0x · P/FCF 4.6x · P/B 0.7x · FCF yield 21.58% · Earnings yield 12.99% · Net debt $399M · EV $1.71B
P/E at fiscal year-ends: Sep 2025 8.1x, Sep 2024 8.1x, Sep 2023 8.1x.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-22 | Citizens | Reiterated | Market Outperform | $35 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -0.3% | +31.7% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -0.3% | +5.7% |
| Volatility (annualized) | 33.4% | 36.7% |
| Max drawdown | -22.7% (Jun 2026→Oct 2026) | -53.0% (Mar 2024→May 2025) |

## Peers (Real Estate - Development)
CCS (Century Communities, Inc.) USD 55.55 +0.04% · HHH (Howard Hughes Holdings Inc.) USD 69.91 -3.56% · WPC (W. P. Carey Inc. REIT) USD 64.45 +1.13% · LAMR (Lamar Advertising Company) USD 148.07 +1.11% · KIM (Kimco Realty Corporation (HC)) USD 22.67 +0.98% · INVH (Invitation Homes Inc.) USD 26.8 +0.79%

## More
Full page: https://nexqual.com/FOR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt