FOR
Forestar Group Inc.
FOR's fundamentals are mixed: revenue grew 12%, while its operating margin held steady at 13%. At 6.7x earnings, it's trading below its usual 8.4x. Analysts expect earnings to fall sharply, though they disagree widely on how much.
FOR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
FOR's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like FOR.
FOR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | $19.82 | -11% |
| Current | 6.7x | $22.24 | — |
| Fair | 8.4x | $27.99 | +26% |
| Forward | 9.8x | $22.24 | — |
| Expensive | 14x | $47.98 | +116% |
Historical ranges are pointers, not guarantees.
FOR's PE is in its cheap range at 6.7x. Analysts expect earnings to fall, which would put today's price at 9.8x next year's earnings, in its expensive range.
FOR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Decline | |
| Weakening | |
| Limited | |
| Low |
Analysts expect FOR's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
FOR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.27 | -32% |
| Q2 2026 | $3.33 | +4.7% |
| Q1 2026 | $3.28 | -0.3% |
| Q4 2025 | $3.27 | -8.1% |
| Q3 2025 | $3.29 | -18% |
| Q2 2025 | $3.18 | -17% |
| Q1 2025 | $3.29 | -18% |
| Q4 2024 | $3.56 | -3% |
| Q3 2024 | $4.00 | +20% |
FOR earned $3.33 per share over the past year, up 4.7% from the year before.
FOR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $407M | +4.2% |
| Q1 2026 | $374.3M | +6.6% |
| Q4 2025 | $273M | +9% |
| Q3 2025 | $670.5M | +22% |
| Q2 2025 | $390.5M | +23% |
| Q1 2025 | $351M | +5.2% |
| Q4 2024 | $250.4M | -18% |
| Q3 2024 | $551.4M | +0.3% |
FOR's revenue has grown year over year for six quarters in a row: $407M last quarter, up 4.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 12% | +0.8 points |
| Q1 2026 | 12% | +0.1 points |
| Q4 2025 | 7.6% | -1.1 points |
| Q3 2025 | 17% | -2.8 points |
| Q2 2025 | 11% | -5 points |
| Q1 2025 | 12% | -6 points |
| Q4 2024 | 8.8% | -8 points |
| Q3 2024 | 20% | +2.3 points |
FOR's operating margin was 12% last quarter, up 0.8 points from the same quarter a year ago.
FOR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $32.7M | +118% |
| Q1 2026 | $151.7M | +$172.2M |
| Q4 2025 | -$157.1M | +$292.9M |
| Q3 2025 | $255.6M | +116% |
| Q2 2025 | $15M | +$77.3M |
| Q1 2025 | -$20.5M | +$39.3M |
| Q4 2024 | -$450M | -$293.1M |
| Q3 2024 | $118.4M | -48% |
FOR's free cash flow was $283M over the past year, against −$337M the year before. Free cash flow isn't a meaningful measure for real estate companies like FOR.
FOR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +40.8K shares |
| 1 year | +0.5% | +246K shares |
| 3 years | +2.1% | +1.1M shares |
| 5 years | +3.5% | +1.7M shares |
| Available history | +22% | +9.2M shares |
FOR has 51M diluted shares, about the same as a year ago.
FOR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 1.9x | Healthy |
| Q4 2025 | 2.6x | Moderate |
| Q3 2025 | 1.9x | Healthy |
| Q2 2025 | 3.1x | Elevated |
| Q1 2025 | 3.1x | Elevated |
| Q4 2024 | 2.8x | Moderate |
| Q3 2024 | 0.8x | Very low |
FOR's net debt is about 1.7 years of its operating earnings (EBITDA), down from 3.1 years a year ago. Net leverage isn't a meaningful measure for real estate companies like FOR.
FOR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.9 | Oversold |
| Stochastic | 2.6 | Oversold |
FOR's weekly RSI is 30 (oversold) and its Stochastic is 3 (oversold).
FOR PE vs Real Estate Sector
| Metric | FOR | Sector median | Relative |
|---|---|---|---|
| PE | 6.7x | 24x | 72% below |
| PE % | 23 | 23 | Same percentile |
FOR is trading at 6.7x earnings, a 72% discount to the Real Estate sector's median of 24x.
FOR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.9 | 11% below |
| 20 week MA | $27.2 | 18% below |
| 50 week MA | $27.1 | 18% below |
| 100 week MA | $25.3 | 12% below |
| 200 week MA | $26.5 | 16% below |
FOR is in a downtrend: it's below all five of its weekly moving averages, and 16% below its 200-week average.
FOR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.8 | $21.3 | +2.5% |
| 2021 | $21.3 | $21.4 | +0.3% |
| 2022 | $21.4 | $15.1 | -29% |
| 2023 | $15.1 | $33.1 | +118% |
| 2024 | $33.1 | $25.7 | -22% |
| 2025 | $25.7 | $24.5 | -4.6% |
| 2026 YTD | $24.5 | $22.2 | -9.3% |
FOR has finished lower in three of the last six years. It's down 9.3% so far in 2026.