公司概述
Forestar Group Inc. operates as a specialized residential lot development company within the United States, focusing on the acquisition of land and the subsequent development of infrastructure for single-family residential communities. The entity functions primarily within the Real Estate sector, specifically under the Real Estate - Development industry, where its core activity involves selling finished residential lots to local, regional, and national homebuilders. As of the latest data, the company holds a market capitalization of $1.34 billion and generates total annual revenue of $1.68 billion over the trailing twelve months. With an employee base of 433, these valuation and revenue figures indicate that Forestar Group Inc. maintains a significant position in the niche market of residential lot development, serving as a critical upstream partner for the broader housing construction ecosystem.
财务健康
The company reported a trailing twelve-month revenue of $1.68 billion, with net income reaching $166.80 million and EBITDA standing at $212.20 million. The gap between the total revenue of $1.68 billion and the net income of $166.80 million reveals a cost structure where approximately 90% of revenue is consumed by operating expenses before arriving at the bottom line, a typical characteristic for development-heavy real estate firms. Free cash flow stands at $137.48 million, which provides the company with substantial financial flexibility to fund ongoing infrastructure projects or return capital to shareholders without requiring external financing. Profitability metrics show a gross margin of 21.6%, an operating margin of 4.7%, and a profit margin of 9.9%, indicating that while the gross generation from land is moderate, the company effectively manages its overhead to convert a significant portion of gross revenue into net profit. In terms of liquidity and leverage, the company holds $318.79 million in cash against a total debt obligation of $111.70 million, supported by a low debt-to-equity ratio of 16.56%. This balance sheet composition suggests a conservative financial stance with ample cash reserves to cover liabilities. The current ratio is recorded at 1.17, indicating that the company possesses sufficient current assets to cover its short-term liabilities, though the margin is relatively tight. Return on equity is 9.8% while return on assets is 4.2%, revealing that management is effectively utilizing shareholder equity to generate returns, although the asset-heavy nature of the business dilutes the return on the total asset base.
估值评估
The trailing twelve-month P/E ratio is 8.03, while the forward P/E ratio is 8.02, implying that the market expects earnings to remain relatively stable with no significant near-term acceleration or deceleration. The price-to-book ratio stands at 0.75, indicating that the company is trading below its book value, which often suggests a market discount or a perception of risks associated with the underlying real estate assets. Alternative valuation metrics such as the price-to-sales ratio of 0.79 and an EV/EBITDA of 5.33 further suggest that the stock is valued conservatively relative to its sales and earnings generation capabilities. Regarding price volatility and trading range, the 52-week high is $30.74 and the 52-week low is $18.00, providing a historical context for the stock's trading band. The stock currently trades below the 52-week high of $30.74 but above the 52-week low of $18.00, reflecting a position within the middle-to-upper range of its recent trading history. The beta value is 1.45, which indicates that the stock's price volatility is significantly higher than the broader market, exposing investors to amplified market movements.
Growth & Income
Revenue growth year-over-year is -3.0%, whereas earnings growth year-over-year is 22.3%, demonstrating that earnings are growing significantly faster than revenue. This divergence implies that the company has successfully improved its profitability efficiency, allowing net income to expand despite a slight contraction in total sales volume. The company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning that all earnings are retained and reinvested into the business for growth purposes rather than distributed to shareholders. The overall growth and income profile characterizes Forestar Group Inc. as a capital-reinvestment-focused entity that prioritizes expanding its land portfolio and operational scale over providing immediate income via dividends, aligning with a strategy of long-term capital appreciation rather than current yield.