Forestar Group Inc. (FOR) Income Statement
FOR FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsFOR revenue and net income
Where FOR's revenue goes
FY2025Each bar shows an amount and its share of revenue. FOR kept 10.1% of revenue as net income.
FOR profit margins
FOR growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.1% | +3.1% | +12.3% | +20.3% |
| Gross profit | +1.2% | +3.9% | +25.2% | — |
| Operating income | −13.2% | −3.2% | +23.6% | — |
| Net income | −17.5% | −2.1% | +22.5% | — |
| EPS (diluted) | −17.5% | −3.3% | +21.3% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FOR quarterly EPS vs estimates
Forestar beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 29, 2026 (estimate $1.25).
FOR income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.66B | $1.51B | $1.44B | $1.52B | $1.33B | $931.8M | $428.3M | $104.4M | $114.3M | $197.3M |
| Cost of revenue | $1.30B | $1.15B | $1.13B | $1.20B | $1.10B | $813.7M | $362.7M | $65.5M | $109.8M | $168.9M |
| Gross profit | $363.5M | $359.3M | $304.1M | $324.0M | $229.2M | $118.1M | $65.6M | $38.8M | $4.5M | $28.4M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $1 | $0 | $0 |
| Sales, general & admin | $154.4M | $118.5M | $97.7M | $93.6M | $68.4M | $45.7M | $28.9M | $11.8M | $56.5M | $21.6M |
| Total operating expenses | $154.4M | $118.5M | $97.7M | $93.6M | $68.4M | $45.7M | $28.9M | $10.0M | $78.2M | $54.8M |
| Operating income | $209.1M | $240.8M | $204.8M | $230.4M | $160.8M | $72.4M | $36.7M | $17.8M | $39.8M | $140.4M |
| Interest income | $6.3M | $19.8M | $13.6M | $1.0M | $1.2M | $5.6M | $6.0M | $7.4M | $13.0M | $12.1M |
| Interest expense | — | — | — | $1.0M | $1.2M | $4.9M | $5.5M | $0 | $8.5M | $20.0M |
| Income before taxes | $219.3M | $270.1M | $221.6M | $235.8M | $146.6M | $78.1M | $45.7M | $49.8M | $52.1M | $92.3M |
| Income taxes | $51.4M | $66.7M | $54.7M | $57.0M | $36.1M | $16.4M | $9.4M | $49.8M | $45.8M | $15.3M |
| Net income | $167.9M | $203.4M | $166.9M | $178.8M | $110.2M | $60.8M | $33.0M | $59.5M | $50.3M | $58.6M |
| EBITDA | $222.8M | $273.1M | $207.8M | $238.5M | $149.3M | $77.3M | $43.4M | $23.0M | $66.1M | $113.3M |
| EPS (diluted) | $3.31 | $4.01 | $3.33 | $3.66 | $2.60 | $1.26 | $0.77 | $1.10 | $0.21 | $1.37 |
| Gross margin | 21.9% | 23.8% | 21.2% | 21.3% | 17.3% | 12.7% | 15.3% | 37.2% | 4.0% | 14.4% |
| Operating margin | 12.6% | 16.0% | 14.3% | 15.2% | 12.1% | 7.8% | 8.6% | 17.1% | 34.8% | 71.1% |
| Net margin | 10.1% | 13.5% | 11.6% | 11.8% | 8.3% | 6.5% | 7.7% | 57.0% | 44.0% | 29.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $407.0M | $374.3M | $273.0M | $670.5M | $390.5M | $351.0M | $250.4M | $551.4M | $318.4M | $333.8M | $305.9M | $549.8M |
| Cost of revenue | $322.9M | $294.1M | $218.0M | $520.9M | $310.8M | $271.8M | $195.4M | $419.5M | $246.9M | $250.5M | $232.8M | $434.1M |
| Gross profit | $84.1M | $80.2M | $55.0M | $149.6M | $79.7M | $79.2M | $55.0M | $131.9M | $71.5M | $83.3M | $73.1M | $115.7M |
| Sales, general & admin | $38.3M | $37.9M | $36.5M | $42.6M | $37.4M | $38.4M | $36.0M | $32.0M | $29.3M | $29.2M | $28.0M | $26.4M |
| Total operating expenses | $38.3M | $37.9M | $36.5M | $42.7M | $37.4M | $38.4M | $36.0M | $32.0M | $29.3M | $29.2M | $28.0M | $115.7M |
| Operating income | $45.8M | $42.3M | $18.5M | $107.0M | $42.3M | $40.8M | $19.0M | $99.9M | $42.2M | $53.9M | $44.9M | $89.7M |
| Interest income | $2.9M | $1.6M | $2.3M | $1.7M | $1.3M | $1.0M | $2.3M | $4.1M | $4.4M | $5.0M | $6.3M | $6.2M |
| Income before taxes | $48.7M | $43.9M | $20.8M | $113.1M | $43.6M | $40.7M | $21.9M | $108.5M | $51.6M | $58.9M | $51.2M | $95.4M |
| Income taxes | $12.7M | $11.7M | $5.4M | $26.1M | $10.7M | $9.1M | $5.4M | $26.9M | $12.9M | $13.9M | $13.0M | $23.0M |
| Net income | $35.9M | $32.1M | $15.4M | $87.0M | $32.9M | $31.6M | $16.5M | $81.6M | $38.7M | $45.0M | $38.2M | $72.4M |
| EBITDA | $46.5M | $43.0M | $19.4M | $114.0M | $44.4M | $41.7M | $22.7M | $109.2M | $52.5M | $59.5M | $52.0M | $90.0M |
| EPS (diluted) | $0.70 | $0.63 | $0.30 | $1.70 | $0.65 | $0.64 | $0.32 | $1.60 | $0.76 | $0.89 | $0.76 | $1.44 |
| Gross margin | 20.7% | 21.4% | 20.1% | 22.3% | 20.4% | 22.6% | 22.0% | 23.9% | 22.5% | 25.0% | 23.9% | 21.0% |
| Operating margin | 11.3% | 11.3% | 6.8% | 16.0% | 10.8% | 11.6% | 7.6% | 18.1% | 13.3% | 16.1% | 14.7% | 16.3% |
| Net margin | 8.8% | 8.6% | 5.6% | 13.0% | 8.4% | 9.0% | 6.6% | 14.8% | 12.2% | 13.5% | 12.5% | 13.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FOR's financial statements (latest annual report filed November 19, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FOR financial results
In fiscal year 2025 (ended September 30, 2025), Forestar reported revenue of $1.7 billion, up 10.1% from the year before. It had net income of $167.9 million (down 17.5%), a net profit margin of 10.1%. Diluted earnings per share came to $3.31. Over five years revenue grew at an average rate of 12.3% a year.
See the FOR stock overview for the latest quote and news, or the FOR chart for price history and technical indicators.
FOR income statement FAQ
What is Forestar's annual revenue?
Forestar reported total revenue of $1.7 billion for fiscal year 2025, which ended on September 30, 2025. That was up 10.1% from $1.5 billion the previous year.
Is Forestar profitable?
Yes. Forestar reported net income of $167.9 million in fiscal 2025, a net profit margin of 10.1%; its operating margin was 12.6%.
What is Forestar's gross margin?
Forestar's gross margin was 21.9% in fiscal 2025: for every $100 of revenue, Forestar kept $22 after the direct cost of its products and services.
How fast is Forestar growing?
Revenue grew 12.3% a year on average over the last five fiscal years, from $931.8 million to $1.7 billion.
What are Forestar's earnings per share?
Forestar earned $3.31 per diluted share in fiscal 2025, compared with $4.01 a year earlier.
When will Forestar report its next earnings?
Forestar is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Forestar's fiscal year end?
Forestar's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 19, 2025.