Forestar Group Inc. (FOR) Stock

Forestar Group Inc. (FOR) is a Real Estate stock trading at $29.14 (as of 2026-08-21), with a market capitalization of $1.49B and a trailing P/E of 12.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Forestar Group Inc. is a residential lot development company in the United States. It acquires land, develops infrastructure for single-family residential communities, and sells finished residential lots to homebuilders; it is headquartered in Arlington, Texas and is a subsidiary of D.R. Horton, Inc.

Understand Forestar Group Inc.: how it makes money

Forestar Group develops residential lots in the United States by acquiring land and building infrastructure for single-family communities, then sells the finished lots to homebuilders (including D.R. Horton, as indicated by the company’s contract disclosures).

Profit hinges on converting lots that are under contract into delivered, sold developed projects, with “contracted future revenue” acting as the pipeline that needs to translate into actual lot sales over time.

Business quality (Solid): The company’s business model links operating performance to the pipeline of owned lots under contract and the revenue from developed projects, but investors should watch for execution and timing risk between development and delivered sales.

Valuation: At 9× earnings, FOR trades 74% below the Real Estate average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Contract pipeline tied to owned lots: “Contracted Future Revenue From Owned Lots Under Contract To Be Sold” suggests management is tracking the future revenue represented by owned lots that are already under contract to be sold.
  • Direct path from development to sales revenue: The business model is focused on developing infrastructure for single-family residential communities and then selling finished lots to homebuilders, which is consistent with the company also reporting “Revenues from Developed Project.”

Bear case

  • Timing gap risk between pipeline and realized revenue: Because the key pipeline metric is “contracted future revenue,” performance can be affected if converting those contracts into developed project sales takes longer than expected.
  • Single-family lot selling model concentration: The company sells single-family finished lots to homebuilders, so results can be sensitive to changes in homebuilder purchasing behavior for finished lots.
Valuation — source: SEC EDGAR (first-party)
Price$29.14
Market Cap$1.49B
P/E Ratio12.9
EV / EBITDA11.5
Price / Book0.80
Price / Sales1.04
FCF Yield-9.5%
DCF Value (model)$78.15
DCF Upside vs Price168.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.66B
Net Margin10.1%
Revenue Growth (YoY)4.2%
EPS Growth (YoY)7.7%
FCF Growth (YoY)-106.0%
Valuation vs Sector & Industry
Stock P/E12.9
Sector P/E (Real Estate)27.2
Industry P/E (Real Estate)29.6
vs Sector-52.7%
vs Industry-56.5%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($69.29M)
Institutional Holders Tracked10
Company
SectorReal Estate
IndustryReal Estate
CEOAnthony W. Oxley
Employees440
CountryUS
IPO Date2007-12-13

Related Companies (Real Estate; 8 comparable real estate companies)

  • Hudson Pacific Properties, Inc. (HPP)
  • Millrose Properties, Inc. (MRP)
  • Kennedy-Wilson Holdings, Inc. (KW)
  • Ellington Financial Inc. (EFC)
  • Terreno Realty Corporation (TRNO)
  • Urban Edge Properties (UE)
  • AH Realty Trust, Inc. (AHRT)
  • Innovative Industrial Properties, Inc. (IIPR)
FOR earnings history · FOR institutional & insider holders · FOR KPIs & operating metrics · FOR financials · FOR investor presentations & press releases · FOR SEC filings · FOR peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.