Forestar Group Inc. (FOR) intrinsic value & 10-year financials
Forestar Group Inc. (FOR) has a Graham intrinsic value of $81.63 per share. At $25.10 on Oct 20, 2026, the stock trades 69% below that value. Over the last 10 fiscal years revenue grew 25.7% a year to $1.5B, with an average return on invested capital of 10.5%.
- Graham intrinsic value
- $81.63
- Share price (Oct 20, 2026)
- $25.10
- Price vs Graham value
- 69% below
- Market cap
- $1.3B
- Revenue (FY2025)
- $1.5B
- Revenue growth (10-yr CAGR)
- 25.7%
- ROIC (10-yr avg)
- 10.5%
- Free cash flow (FY2025)
- -$199.9M
FOR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.5B | $167.9M | $3.29 | -$199.9M | — | 8.4% |
| FY2024 | $1.5B | $203.4M | $4.00 | -$160.6M | — | 12.5% |
| FY2023 | $1.3B | $166.9M | $3.33 | $362.8M | — | 10.8% |
| FY2022 | $1.5B | $178.8M | $3.59 | $105.2M | — | 11.2% |
| FY2021 | $1.3B | $110.2M | $2.25 | -$304.7M | — | 8.2% |
| FY2020 | $931.8M | $60.8M | $1.26 | $167.8M | — | 6.1% |
| FY2019 | $428.3M | $33.0M | $0.79 | -$392.1M | — | 4.9% |
| FY2018 | — | — | — | — | — | — |
| FY2017 | $114.3M | $50.3M | $1.19 | -$18.7M | 34.8% | 5.2% |
| FY2016 | $197.3M | $58.6M | $1.38 | $60.7M | 71.1% | 27.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Forestar Group Inc. is a consistent compounder, expanding top-line revenue at 25.7% annually over the past decade.
Forestar Group Inc. returns on capital have been average, hovering around 10.5% ROIC over the decade.
Over the decade, Forestar Group Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Forestar Group Inc. is modeled at 10.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $81.63 per share.