Forestar Group Inc. (FOR) Financial Statements
Industry: Real Estate
In fiscal 2025, Forestar reported revenue of $1.66B, up 10.1% from $1.51B the year before. Net income was $167.9M (a 10.1% net margin), or $3.29 per diluted share. Gross margin was 21.9% and operating margin was 12.6%. Operating activities generated -$197.7M of cash, leaving -$199.9M of free cash flow. At fiscal year end, Forestar held $3.14B in total assets against $1.37B in total liabilities, including $379.2M of cash and equivalents.
Open the full interactive Forestar financials → Quarterly statements, key ratios, valuation history and price charts.
Forestar Key Stats
| Share Price | $25.41 |
|---|---|
| Market Cap | $1.30B |
| P/E Ratio | 7.7 |
| Revenue YoY Growth | +10.1% |
| 52-Week Range | $23.09 – $31.98 |
| Shares Outstanding | 51.1 million (basic, 2026 Q3) |
Forestar Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $931.8M | $1.33B | $1.52B | $1.44B | $1.51B | $1.66B |
| Cost of Goods Sold | $813.7M | $1.10B | $1.20B | $1.13B | $1.15B | $1.30B |
| Gross Profit | $118.1M | $229.2M | $324.0M | $304.1M | $359.3M | $363.5M |
| Operating Income | $72.4M | $160.8M | $230.4M | $206.4M | $240.8M | $209.1M |
| Pre-Tax Income | $78.1M | $146.6M | $235.8M | $221.6M | $270.1M | $219.3M |
| Income Tax | $16.4M | $36.1M | $57.0M | $54.7M | $66.7M | $51.4M |
| Net Income | $60.8M | $110.2M | $178.8M | $166.9M | $203.4M | $167.9M |
| Diluted EPS | $1.26 | $2.25 | $3.59 | $3.33 | $4.00 | $3.29 |
Forestar Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $670.5M | $273.0M | $374.3M | $407.0M |
| Net Income | $86.9M | $15.4M | $32.1M | $35.9M |
| Diluted EPS | $1.70 | $0.30 | $0.63 | $0.70 |
Forestar Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $394.3M | $153.6M | $264.8M | $616.0M | $481.2M | $379.2M |
| Total Assets | $1.74B | $2.10B | $2.34B | $2.47B | $2.84B | $3.14B |
| Total Long-Term Debt | $641.1M | $704.5M | $706.0M | $695.0M | $706.4M | $802.7M |
| Total Liabilities | $868.1M | $1.09B | $1.14B | $1.10B | $1.25B | $1.37B |
| Shareholders' Equity | $870.9M | $1.01B | $1.20B | $1.37B | $1.59B | $1.77B |
Forestar Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $168.4M | -$303.1M | $108.7M | $364.1M | -$158.4M | -$197.7M |
| Cash From Investing | $5.0M | $1.0M | $1.3M | $300,000 | $7.3M | $3.2M |
| Cash From Financing | $174.9M | $61.4M | $1.2M | -$13.2M | $16.3M | $92.5M |
| Free Cash Flow | $167.8M | -$304.7M | $105.2M | $362.8M | -$160.6M | -$199.9M |
Figures from Forestar's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Forestar financials page for every line item.
Forestar Company Profile
| Ticker | FOR |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate |
| Headquarters | Arlington, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | September 30 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001406587 |
Frequently Asked Questions
What was Forestar's revenue in fiscal 2025?
Forestar (FOR) reported revenue of $1.66B for fiscal 2025.
What is Forestar's annual revenue history?
Forestar's annual revenue by fiscal year: 2020: $931.8M; 2021: $1.33B; 2022: $1.52B; 2023: $1.44B; 2024: $1.51B; 2025: $1.66B.
What was Forestar's net income in fiscal 2025?
Forestar reported net income of $167.9M for fiscal 2025.
What was Forestar's earnings per share (EPS) in fiscal 2025?
Forestar's diluted EPS was $3.29 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Forestar generate in fiscal 2025?
Forestar generated -$199.9M of free cash flow in fiscal 2025.
What was Forestar's revenue last quarter?
In its most recent reported quarter (2026 Q3), Forestar reported revenue of $407.0M.
How much debt does Forestar have?
Forestar reported $802.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Forestar are outstanding?
Forestar reported a weighted average of 51.1 million basic shares outstanding in 2026 Q3.
What is Forestar's market cap?
Based on its latest closing price, Forestar (FOR) has a market capitalization of about $1.30B.
When does Forestar's fiscal year end?
Forestar's fiscal year end, as registered with the SEC, is September 30.
Where is Forestar headquartered?
Forestar lists its business address in Arlington, Texas in its SEC filings.