Forestar Group Inc.

Listed Company

FORCIK 0001406587NYSEAcceleratedReal EstateDelawareFY ends Sep 30

Period

FY 2025

Revenue

$1.66B

Net Income

$167.90M

Total Assets

$3.14B

Equity

$1.77B

Shares Out

51.01M

Op. Cash Flow

$-197.70M

FOR$29.87+35.53% · past yearDBEQ Basic

Daily closing prices

Business

Forestar Group Inc. is a national residential lot development company that acquires land, obtains entitlements, and develops finished single-family residential lots for sale to homebuilders. The company focuses on phased, short-duration projects across entry-level, first-time move-up, and active adult home segments, supplemented by strategic lot-banking and land-banking activities. Operations span 64 markets in 23 states, with customers including local, regional, and national homebuilders, and a controlling shareholder relationship with D.R. Horton that provides both supply agreements and shared services.

Summary from 10-K filed 2025-11-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenues	1,662	1,509	1,437	1,519	1,326
Cost of sales	1,299	1,150	1,133	1,195	1,097
Selling, general and administrative expense	154	119	98	94	68
Equity in earnings of unconsolidated ventures	−600,000	0	0	−1	−200,000
Gain on sale of assets	−5	−10	−2	−3	−3
Interest and other income	−6	−20	−14	−1	−1
Loss on extinguishment of debt	1	0	0	—	—
Income before income taxes	219	270	222	236	147
Income tax expense	51	67	55	57	36
Net income	168	203	167	179	110
Basic net income per common share	3.3	4.03	3.34	3.59	2.25
Weighted average number of common shares	51	50	50	50	49
Diluted net income per common share	3.29	4	3.33	3.59	2.25
Adjusted weighted average number of common shares	51	51	50	50	49

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	379	481	616	265	154
Real estate	2,645	2,266	1,790	2,022	1,905
Investment in unconsolidated ventures	0	300,000	500,000	500,000	900,000
Property and equipment, net	8	7	6	6	3
Other assets	105	85	58	50	39
Total assets	3,137	2,840	2,471	2,343	2,102
Accounts payable	71	86	68	72	47
Accrued development costs	132	145	104	122	105
Earnest money on sales contracts	193	172	121	136	148
Deferred tax liability, net	86	68	51	37	24
Accrued expenses and other liabilities	83	68	61	70	57
Debt	803	706	695	706	705
Total liabilities	1,368	1,245	1,101	1,144	1,086
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 50,833,171 and 50,653,637 shares issued and outstanding at September 30, 2025 and 2024, respectively	51	51	50	50	50
Additional paid-in capital	671	665	644	641	636
Retained earnings	1,046	878	675	508	329
Stockholders' equity	1,768	1,594	1,369	1,198	1,015
Noncontrolling interests	1	1	1	1	1
Total equity	1,769	1,595	1,370	1,199	1,016
Total liabilities and equity	3,137	2,840	2,471	2,343	2,102

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	4	3	3	3	3
Deferred income taxes	19	17	14	13	19
Stock-based compensation expense	7	5	4	3	3
Impairments and land option charges	7	4	24	13	3
(Increase) decrease in real estate	−385	−470	206	−142	−586
Increase in other assets	−7	−28	−7	−2	−15
(Decrease) increase in accounts payable and other accrued liabilities	−14	25	−13	41	28
(Decrease) increase in accrued development costs	−13	41	−18	18	60
Increase (decrease) in earnest money deposits on sales contracts	21	51	−15	−12	50
Net cash (used in) provided by operating activities	−198	−158	364	109	−303
Expenditures for property, equipment, software and other	−2	−2	−1	−4	−2
Return of investment in unconsolidated ventures	900,000	0	0	2	3
Proceeds from sale of assets	5	10	2	3	0
Net cash provided by investing activities	3	7	300,000	1	1
Issuance of common stock	0	20	0	2	33
Additions to debt	780	0	0	—	—
Repayment of debt	680	0	13	—	—
Deferred financing fees	−6	0	0	0	5
Cash paid for shares withheld for taxes	−2	−3	−700,000	−500,000	−600,000
Stock issued under employee benefit plans	500,000	0	0	—	—
Net cash provided by (used in) financing activities	93	16	−13	1	61
(Decrease) increase in cash and cash equivalents	−102	−135	351	111	−241
Note payable issued for real estate	0	10	0	0	13
Income taxes paid, net	31	46	45	42	4

Filings

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Frequently asked questions

What is Forestar Group Inc.'s CIK number?

Forestar Group Inc.'s SEC CIK number is 0001406587 (1406587). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Forestar Group Inc.'s SEC filings?

All of Forestar Group Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Forestar Group Inc. last report earnings?

Forestar Group Inc. (FOR) most recently filed an earnings 8-K with the SEC on Apr 21, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-026197). This is Forestar Group Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Forestar Group Inc.'s most recent earnings 8-K?

Forestar Group Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 21, 2026 under accession 0001628280-26-026197. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Forestar Group Inc.'s latest earnings 8-K →
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