Forestar Group Inc (FOR) financial statements: income statement, balance sheet and cash flow

Forestar Group Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Sep 30, 2025 · FY), Forestar Group Inc reported revenue of $1.7B (+10.1% year on year) and net income of $167.9M (-17.5% year on year).

Income statement

Forestar Group Inc income statement, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Revenues	$1.7B	$1.5B	$1.4B	$1.5B
Cost of sales	$1.3B	$1.2B	$1.1B	$1.2B
Selling, general and administrative expense	$154.4M	$118.5M	$97.7M	$93.6M
Equity in earnings of unconsolidated ventures	($600.0K)	$0	$0	($1.2M)
Gain on sale of assets	($4.5M)	($9.5M)	($1.6M)	($3.2M)
Interest and other income	($6.3M)	($19.8M)	($13.6M)	$1.0M
Loss on extinguishment of debt	$1.2M	—	$0	$0
Income before income taxes	$219.3M	$270.1M	$221.6M	$235.8M
Income tax expense	$51.4M	$66.7M	$54.7M	($57.0M)
Net income	$167.9M	$203.4M	$166.9M	$178.8M
Basic net income per common share	$3.30	$4.03	$3.34	$3.59
Weighted average number of common shares	50.9M	50.4M	50.0M	49.8M
Diluted net income per common share	$3.29	$4.00	$3.33	$3.59
Adjusted weighted average number of common shares	51.1M	50.8M	50.1M	49.8M

Forestar Group Inc income statement, quarters

Line item	Jun 30, 2026 · Q3	Mar 31, 2026 · Q2	Dec 31, 2025 · Q1	Jun 30, 2025 · Q3
Revenues	$407.0M	$374.3M	$273.0M	$390.5M
Cost of sales	$322.9M	$294.1M	$218.0M	$310.8M
Selling, general and administrative expense	$38.3M	$37.9M	$36.5M	$37.4M
Equity in earnings of unconsolidated ventures	$0	$0	$0	$0
Interest and other income	($2.9M)	($1.6M)	($2.3M)	($1.3M)
Loss on extinguishment of debt	$0	$0	—	$0
Income before income taxes	$48.7M	$43.9M	$20.8M	$43.6M
Income tax expense	$12.7M	$11.7M	$5.4M	$10.7M
Net income	$36.0M	$32.2M	—	—
Net income attributable to noncontrolling interests	$100.0K	$100.0K	—	—
Net income attributable to Forestar Group Inc.	$35.9M	$32.1M	$15.4M	$32.9M
Basic net income per common share	$0.70	$0.63	$0.30	$0.65
Weighted average number of common shares	51.1M	51.0M	51.0M	50.9M
Diluted net income per common share	$0.70	$0.63	$0.30	$0.65
Adjusted weighted average number of common shares	51.3M	51.2M	51.2M	51.0M

Balance sheet

Forestar Group Inc balance sheet, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Cash and cash equivalents	$379.2M	$481.2M	$616.0M	$264.8M
Real estate	$2.6B	$2.3B	$1.8B	$2.0B
Investment in unconsolidated ventures	$0	$300.0K	$500.0K	$500.0K
Property and equipment, net	$8.1M	$7.1M	$5.9M	$5.7M
Other assets	$104.6M	$85.3M	$58.0M	$49.6M
Total assets	$3.1B	$2.8B	$2.5B	$2.3B
Accounts payable	$71.0M	$85.9M	$68.4M	$72.2M
Accrued development costs	$131.8M	$144.6M	$104.1M	$122.3M
Earnest money on sales contracts	$193.3M	$172.3M	$121.4M	$136.2M
Deferred tax liability, net	$86.2M	$67.5M	$50.7M	$36.9M
Accrued expenses and other liabilities	$83.1M	$68.3M	$61.2M	$70.1M
Debt	$802.7M	$706.4M	$695.0M	$706.0M
Total liabilities	$1.4B	$1.2B	$1.1B	$1.1B
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	$50800000.00	$50700000.00	$49900000.00	$49800000.00
Additional paid-in capital	$671.0M	$665.2M	$644.2M	$640.6M
Retained earnings	$1.0B	$878.2M	$674.8M	$507.9M
Stockholders' equity	$1.8B	$1.6B	$1.4B	$1.2B
Noncontrolling interests	$1.0M	$1.0M	$1.0M	$1.0M
Total equity	$1.8B	$1.6B	$1.4B	$1.2B
Total liabilities and equity	$3.1B	$2.8B	$2.5B	$2.3B

Forestar Group Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Jun 30, 2025
Cash and cash equivalents	$394.9M	$362.2M	$211.7M	$189.2M
Real estate	$2.7B	$2.7B	$2.9B	$2.8B
Property and equipment, net	$7.3M	$7.7M	$7.8M	$7.6M
Other assets	$106.9M	$93.0M	$106.6M	$100.1M
Total assets	$3.2B	$3.2B	$3.2B	$3.1B
Accounts payable	$65.3M	$73.3M	$80.1M	$67.2M
Accrued development costs	$120.1M	$113.9M	$131.6M	$129.1M
Earnest money on sales contracts	$202.2M	$208.6M	$210.0M	$229.6M
Deferred tax liability, net	$92.8M	$84.3M	$87.4M	$77.9M
Accrued expenses and other liabilities	$88.6M	$79.1M	$87.3M	$63.5M
Debt	$793.8M	$793.5M	$793.2M	$872.8M
Total liabilities	$1.4B	$1.4B	$1.4B	$1.4B
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 51,008,733 and 50,833,171 shares issued and outstanding at June 30, 2026 and September 30, 2025, respectively	$51000000.00	$51000000.00	$50900000.00	$50800000.00
Additional paid-in capital	$676.1M	$674.2M	$673.6M	$669.3M
Retained earnings	$1.1B	$1.1B	$1.1B	$959.2M
Stockholders' equity	$1.9B	$1.8B	$1.8B	$1.7B
Noncontrolling interests	$1.2M	$1.1M	$1.0M	$1.0M
Total equity	$1.9B	$1.8B	$1.8B	$1.7B
Total liabilities and equity	$3.2B	$3.2B	$3.2B	$3.1B

Cash flow statement

Forestar Group Inc cash flow statement, fiscal years

Line item	Sep 30, 2025 · FY	Sep 30, 2024 · FY	Sep 30, 2023 · FY	Sep 30, 2022 · FY
Net income	$167.9M	$203.4M	$166.9M	$178.8M
Depreciation and amortization	$3.5M	$3.0M	$3.0M	$2.7M
Deferred income taxes	$18.7M	$16.8M	$13.8M	$12.5M
Equity in earnings of unconsolidated ventures	($600.0K)	$0	$0	($1.2M)
Stock-based compensation expense	$7.3M	$5.3M	$4.3M	$3.3M
Impairments and land option charges	$7.2M	$4.1M	$24.0M	$12.5M
Gain on sale of assets	($4.5M)	$9.5M	$1.6M	$3.2M
Loss on extinguishment of debt	($1.2M)	—	—	$0
(Increase) decrease in real estate	($384.8M)	($469.9M)	$206.3M	($142.3M)
Increase in other assets	($7.4M)	($27.7M)	($7.0M)	($1.6M)
(Decrease) increase in accounts payable and other accrued liabilities	($14.4M)	$24.7M	($12.7M)	$40.9M
(Decrease) increase in accrued development costs	($12.8M)	$40.5M	($18.2M)	$17.8M
Increase (decrease) in earnest money deposits on sales contracts	$21.0M	$50.9M	($14.7M)	($11.5M)
Net cash (used in) provided by operating activities	($197.7M)	($158.4M)	$364.1M	$108.7M
Expenditures for property, equipment, software and other	($2.2M)	($2.2M)	($1.3M)	($3.5M)
Return of investment in unconsolidated ventures	$900.0K	$0	$0	$1.6M
Proceeds from sale of assets	$4.5M	$9.5M	$1.6M	$3.2M
Net cash provided by investing activities	$3.2M	$7.3M	$300.0K	$1.3M
Issuance of common stock	$0	$19.7M	$0	$1.7M
Additions to debt	$780.0M	—	—	—
Repayment of debt	$680.0M	$0	—	—
Deferred financing fees	($6.2M)	—	$0	$0
Cash paid for shares withheld for taxes	-1.8M	-3.4M	-700.0K	-500.0K
Stock issued under employee benefit plans	500.0K	—	—	—
Net cash provided by (used in) financing activities	$92.5M	$16.3M	($13.2M)	$1.2M
(Decrease) increase in cash and cash equivalents	($102.0M)	($134.8M)	$351.2M	$111.2M
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	$481.2M	$616.0M	$264.8M	$264.8M
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	$379.2M	$481.2M	$616.0M	—
Note payable issued for real estate	$0	$9.9M	$0	$0
Income taxes paid, net	$30.8M	$45.7M	$44.7M	$42.4M

Forestar Group Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · YTD	Dec 31, 2025 · Q1	Jun 30, 2025 · YTD
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$83.7M	$47.7M	—	—
Depreciation and amortization	$2.3M	$1.6M	$900.0K	$2.6M
Deferred income taxes	$6.6M	($1.9M)	$1.2M	$10.4M
Equity in earnings of unconsolidated ventures	$0	$0	$0	($600.0K)
Stock-based compensation expense	$6.9M	$5.0M	$3.1M	$5.8M
Impairments and land option charges	$8.0M	$7.1M	$800.0K	$3.9M
Loss on extinguishment of debt	$0	$0	—	$1.1M
Increase in real estate	($69.3M)	($67.1M)	($206.2M)	($561.0M)
Decrease (increase) in other assets	$4.7M	$11.4M	($1.2M)	($15.4M)
Decrease in accounts payable and other accrued liabilities	($12.5M)	($6.3M)	$12.5M	($23.6M)
Decrease in accrued development costs	($11.7M)	($17.9M)	($200.0K)	($15.5M)
Increase in earnest money deposits on sales contracts	$8.9M	$15.3M	$16.7M	$57.3M
Net cash provided by (used in) operating activities	$27.6M	($5.1M)	($157.0M)	($454.0M)
Expenditures for property, equipment, software and other	($300.0K)	($300.0K)	($100.0K)	($1.5M)
Return of investment in unconsolidated ventures	$0	$0	$0	$900.0K
Net cash used in investing activities	($300.0K)	($300.0K)	($100.0K)	($600.0K)
Additions to debt	$0	$0	—	$780.0M
Repayment of debt	($9.9M)	($9.9M)	($9.9M)	($609.4M)
Deferred financing fees	$0	$0	—	($6.3M)
Stock issued under employee benefit plans	300.0K	300.0K	—	—
Cash paid for shares withheld for taxes	-2.0M	-2.0M	-500.0K	-1.7M
Net cash (used in) provided by financing activities	($11.6M)	($11.6M)	($10.4M)	$162.6M
Increase (decrease) in cash and cash equivalents	$15.7M	($17.0M)	($167.5M)	($292.0M)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	$379.2M	$379.2M	$379.2M	$481.2M
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	$394.9M	$362.2M	$211.7M	$189.2M

Forestar Group Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.