FORForestar Group Inc.
Real Estate
- Revenue
- $1.5B
- 5.8% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.2B
- Employees
- 393
- $4M revenue each
- Net debt / EBITDA
- —
- $399M net debt
- AI in 10-K
- 1.3
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-118% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$4M · 73rd pctBottom quartile of its SIC industry
- Quiet on AINo1.3 per 10K words · 41st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo8.8× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$1.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$157K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.3B | $1.5B | $1.3B | $1.5B | $1.5B | 5.8% |
| Net income | $110M | $179M | $167M | $203M | $168M | 17% |
| Operating cash flow | −$303M | $109M | $364M | −$158M | −$198M | 25% |
| Capex | $2M | $4M | $1M | $2M | $2M | 0.0% |
| Stock-based comp | $3M | $3M | $4M | $5M | $7M | 38% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Jun 1, 2017 | DEFM14A | Terra Firma Merger Parent, L.P. | $14.25 | 8.2% |
| May 19, 2017 | PREM14A | Terra Firma Merger Parent, L.P. | $14.25 | 8.2% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $157K · 2
- Net
- −$157K
Pay vs performance
No pay-versus-performance disclosure yet.