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NYSE · REAL ESTATE · MID CAP

Forestar Group Inc. FOR

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.7B
▲ 10.1% YoY
$167.9M
▼ 17.5% YoY
$-199.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Forestar Group Inc. focuses primarily on making investments in land acquisition and development to sell finished single-family residential lots to homebuilders. It conducts a wide range of project planning and management activities related to the entitlement, acquisition, community development and sale of residential lots. For the year ended September 30, 2025, it sold 14,240 lots with an average sales price of $108,400, and at September 30, 2025 its lot position consisted of 99,800 residential lots, of which approximately 65,100 were owned and 34,700 were controlled through purchase contracts. It has expanded and diversified its lot development operations across 64 markets in 23 states. It manages its operations through its real estate segment. It increased its number of employees from 393 at September 30, 2024 to 433 at September 30, 2025 to support the growth of its residential lot development business across a geographically diversified platform. Its real estate origins date back to the 1954 incorporation of Lumbermen's Investment Corporation, which became a wholly-owned subsidiary of the predecessor to Temple-Inland Inc. in 1971, and after operating as Forestar Real Estate Group Inc. following a 2007 distribution that made it an independent publicly-traded company, it took the name Forestar Group Inc. in 2008.

Written from the business description in FORESTAR GROUP INC.'s annual report to the U.S. Securities and Exchange Commission, filed 19 November 2025. Every sentence was checked against that document before publication.

Growth

USD 1.7B
Revenue, FY2025 · full 16-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.7 · Net income 0.2
1.0B2.0B-0.1B-0.2B
200920122015201920222025
Compound annual growth
+3.1%
+12.3%
−2.1%
+22.5%
−2.9%
+21.2%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +12.3% a year over the five years to FY2025 — but profit grew faster: net income at +22.5%, earnings per share at +21.2%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

10 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 13.2% · Net 10.1%
50%-50%
200920162025
ROE
FY2025 · ROE 10.0%
5%10%15%-10%-20%-30%
200920162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin21.9%
Operating margin13.2%
Net margin10.1%
EBITDAUSD 222.8M

Each USD of equity produced 10 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -199.9
150M300M-150M-300M
200920162025
Net buybacks $M Dividends $M
FY2017 · Dividends · · Net buybacks 0.0
10M20M
20102011201220132014201520162017
Dividends paid·
Net buybacks·
Share of profit·
Consecutive raises·

Total assetsUSD 3.1B
EquityUSD 1.8B
CashUSD 379.2M
Gross debtUSD 802.7M
Net debtUSD 423.5M

Net debt stands at 24% of equity.

The 16-year record

16 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
FOR, 16-year financial record
Metric 2025202420232022202120202019201720162015201420132012201120102009
Revenue $B1.71.51.41.51.30.90.40.10.20.20.20.30.20.10.10.1
Operating income $B0.20.30.20.20.10.10.00.10.10.00.10.00.00.10.00.1
EBITDA $B0.20.30.20.20.10.10.10.10.20.10.10.10.00.10.00.1
Income tax $B0.10.10.10.10.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.20.20.20.20.10.10.00.10.1−0.20.00.00.00.00.00.1
Free cash flow $B−0.2−0.20.40.1−0.3−0.2−0.4−0.00.10.00.10.1−0.00.00.00.1
EPS, diluted $3.294.003.333.592.251.260.791.191.38−6.220.380.800.360.200.141.64
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend————————————————
ROE %10.013.713.016.211.77.24.18.611.0−35.22.34.72.51.41.011.4
Shares out B0.050.050.050.05◌◌◌◌◌◌◌◌◌◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 47 reconciliationsAUDITED

Reconciled in 16 of the 16 fiscal years we could check. 10 checks were skipped: cost of revenue is not tagged before 2017. Three checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate
Listed onNYSE
Incorporated inDelaware
Fiscal year endsSeptember 30
Data on record since2009

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