InsiderClue
Stocks · Real estate · Real Estate

Forestar Group Inc.

FOR Clue Score33
United States Fiscal year ends September CIK 0001406587
$25.01 -2.50% Close, 12 Oct 2026
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Price $25.01 +26.76% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 13 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue197.3Operating income140.4Net income58.6EPS, diluted1.38Fiscal year 2017Revenue114.3 −42.1%Operating income39.8Net income50.3 −14.2%EPS, diluted1.19 −13.8%Fiscal year 2019Revenue428.3 +274.7%Net income33.0 −34.4%EPS, diluted0.79 −33.6%Fiscal year 2020Revenue931.8 +117.6%Net income60.8 +84.2%EPS, diluted1.26 +59.5%Fiscal year 2021Revenue1,325.8 +42.3%Net income110.2 +81.3%EPS, diluted2.25 +78.6%Fiscal year 2022Revenue1,519.1 +14.6%Net income178.8 +62.3%EPS, diluted3.59 +59.6%Fiscal year 2023Revenue1,436.9 −5.4%Net income166.9 −6.7%EPS, diluted3.33 −7.2%Fiscal year 2024Revenue1,509.4 +5.0%Net income203.4 +21.9%EPS, diluted4.00 +20.1%Fiscal year 2025Revenue1,662.4 +10.1%Net income167.9 −17.5%EPS, diluted3.29 −17.8%
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 197.3 114.3 428.3 931.8 1,325.8 1,519.1 1,436.9 1,509.4 1,662.4
Growth −42.1% +274.7% +117.6% +42.3% +14.6% −5.4% +5.0% +10.1%
Operating income 140.4 39.8 n/a n/a n/a n/a n/a n/a n/a
Net income 58.6 50.3 33.0 60.8 110.2 178.8 166.9 203.4 167.9
Growth −14.2% −34.4% +84.2% +81.3% +62.3% −6.7% +21.9% −17.5%
EPS, diluted 1.38 1.19 0.79 1.26 2.25 3.59 3.33 4.00 3.29
Growth −13.8% −33.6% +59.5% +78.6% +59.6% −7.2% +20.1% −17.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin71.1%Net margin29.7%Free cash flow margin30.8%Fiscal year 2017Operating margin34.8%Net margin44.0%Free cash flow margin−13.5%Fiscal year 2019Net margin7.7%Free cash flow margin−91.5%Fiscal year 2020Net margin6.5%Free cash flow margin−18.1%Fiscal year 2021Net margin8.3%Free cash flow margin−23.0%Fiscal year 2022Net margin11.8%Free cash flow margin6.9%Fiscal year 2023Net margin11.6%Free cash flow margin25.2%Fiscal year 2024Net margin13.5%Free cash flow margin−10.6%Fiscal year 2025Net margin10.1%Free cash flow margin−12.0%
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 71.1% 34.8% n/a n/a n/a n/a n/a n/a n/a
Net margin 29.7% 44.0% 7.7% 6.5% 8.3% 11.8% 11.6% 13.5% 10.1%
Free cash flow margin 30.8% −13.5% −91.5% −18.1% −23.0% 6.9% 25.2% −10.6% −12.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow66.9Capital expenditure−6.1Free cash flow60.7Buybacks−3.5Fiscal year 2017Operating cash flow−15.3Capital expenditure−0.1Free cash flow−15.4 −125.4%Buybacks0.0Fiscal year 2019Operating cash flow−391.2Capital expenditure−0.9Free cash flow−392.1Fiscal year 2020Operating cash flow−168.4Capital expenditure−0.6Free cash flow−169.0Fiscal year 2021Operating cash flow−303.1Capital expenditure−1.6Free cash flow−304.7Fiscal year 2022Operating cash flow108.7Capital expenditure−3.5Free cash flow105.2Fiscal year 2023Operating cash flow364.1Capital expenditure−1.3Free cash flow362.8 +244.9%Fiscal year 2024Operating cash flow−158.4Capital expenditure−2.2Free cash flow−160.6 −144.3%Fiscal year 2025Operating cash flow−197.7Capital expenditure−2.2Free cash flow−199.9
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 66.9 −15.3 −391.2 −168.4 −303.1 108.7 364.1 −158.4 −197.7
Capital expenditure −6.1 −0.1 −0.9 −0.6 −1.6 −3.5 −1.3 −2.2 −2.2
Free cash flow 60.7 −15.4 −392.1 −169.0 −304.7 105.2 362.8 −160.6 −199.9
Growth −125.4% +244.9% −144.3%
Buybacks −3.5 0.0 n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash265.8Total debt110.4Net cash (debt)155.4Shareholders’ equity560.7Debt to equity0.20Fiscal year 2017Cash321.8Total debt108.4Net cash (debt)213.4Shareholders’ equity604.2Debt to equity0.18Fiscal year 2019Cash382.8Total debt460.5Net cash (debt)−77.7Shareholders’ equity808.3Debt to equity0.57Fiscal year 2020Cash394.3Total debt641.1Net cash (debt)−246.8Shareholders’ equity870.9Debt to equity0.74Fiscal year 2021Cash153.6Total debt704.5Net cash (debt)−550.9Shareholders’ equity1,014.9Debt to equity0.69Fiscal year 2022Cash264.8Total debt706.0Net cash (debt)−441.2Shareholders’ equity1,198.3Debt to equity0.59Fiscal year 2023Cash616.0Total debt695.0Net cash (debt)−79.0Shareholders’ equity1,368.9Debt to equity0.51Fiscal year 2024Cash481.2Total debt706.4Net cash (debt)−225.2Shareholders’ equity1,594.1Debt to equity0.44Fiscal year 2025Cash379.2Total debt802.7Net cash (debt)−423.5Shareholders’ equity1,767.9Debt to equity0.45
FY2016FY2017FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 265.8 321.8 382.8 394.3 153.6 264.8 616.0 481.2 379.2
Total debt 110.4 108.4 460.5 641.1 704.5 706.0 695.0 706.4 802.7
Net cash (debt) 155.4 213.4 −77.7 −246.8 −550.9 −441.2 −79.0 −225.2 −423.5
Shareholders’ equity 560.7 604.2 808.3 870.9 1,014.9 1,198.3 1,368.9 1,594.1 1,767.9
Debt to equity 0.20 0.18 0.57 0.74 0.69 0.59 0.51 0.44 0.45

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Margins
71.1% 34.8% n/a n/a n/a n/a n/a n/a n/a
46.8% 45.6% 10.7% 8.4% 11.1% 15.5% 15.4% 17.9% 13.2%
29.7% 44.0% 7.7% 6.5% 8.3% 11.8% 11.6% 13.5% 10.1%
30.8% −13.5% −91.5% −18.1% −23.0% 6.9% 25.2% −10.6% −12.0%
Spending
10.9% 65.9% 6.7% 4.9% 5.2% 6.2% 6.8% 7.9% 9.3%
3.1% 0.1% 0.2% 0.1% 0.1% 0.2% 0.1% 0.1% 0.1%
16.6% 87.9% 20.6% 21.0% 24.6% 24.2% 24.7% 24.7% 23.4%
Returns
10.5% 8.3% 4.1% 7.0% 10.9% 14.9% 12.2% 12.8% 9.5%
8.0% 6.6% 2.3% 3.5% 5.2% 7.6% 6.8% 7.2% 5.4%
Balance and payout
0.20 0.18 0.57 0.74 0.69 0.59 0.51 0.44 0.45
23.3% 20.5% 44.4% 49.9% 51.7% 48.8% 44.6% 43.8% 43.6%
5.8% n/a n/a n/a n/a n/a n/a n/a n/a