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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $273.0M, roughly 1.7× Forestar Group Inc.). American Homes 4 Rent runs the higher net margin — 31.7% vs 5.6%, a 26.1% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $-157.1M). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs -9.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
AMH vs FOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $273.0M |
| Net Profit | $144.3M | $15.4M |
| Gross Margin | — | 20.1% |
| Operating Margin | — | 7.6% |
| Net Margin | 31.7% | 5.6% |
| Revenue YoY | 4.2% | 9.0% |
| Net Profit YoY | 0.3% | -6.7% |
| EPS (diluted) | $0.33 | $0.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $273.0M | ||
| Q3 25 | $478.5M | $670.5M | ||
| Q2 25 | $457.5M | $390.5M | ||
| Q1 25 | $459.3M | $351.0M | ||
| Q4 24 | $436.6M | $250.4M | ||
| Q3 24 | $445.1M | $551.3M | ||
| Q2 24 | $423.5M | $318.4M | ||
| Q1 24 | $423.6M | $333.8M |
| Q4 25 | $144.3M | $15.4M | ||
| Q3 25 | $116.8M | $86.9M | ||
| Q2 25 | $123.6M | $32.9M | ||
| Q1 25 | $128.7M | $31.6M | ||
| Q4 24 | $143.9M | $16.5M | ||
| Q3 24 | $87.6M | $81.5M | ||
| Q2 24 | $108.5M | $38.7M | ||
| Q1 24 | $128.1M | $45.0M |
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% | ||
| Q1 24 | — | 24.9% |
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 19.7% | ||
| Q2 24 | — | 16.2% | ||
| Q1 24 | — | 17.6% |
| Q4 25 | 31.7% | 5.6% | ||
| Q3 25 | 24.4% | 13.0% | ||
| Q2 25 | 27.0% | 8.4% | ||
| Q1 25 | 28.0% | 9.0% | ||
| Q4 24 | 33.0% | 6.6% | ||
| Q3 24 | 19.7% | 14.8% | ||
| Q2 24 | 25.6% | 12.2% | ||
| Q1 24 | 30.2% | 13.5% |
| Q4 25 | $0.33 | $0.30 | ||
| Q3 25 | $0.27 | $1.70 | ||
| Q2 25 | $0.28 | $0.65 | ||
| Q1 25 | $0.30 | $0.62 | ||
| Q4 24 | $0.33 | $0.32 | ||
| Q3 24 | $0.20 | $1.59 | ||
| Q2 24 | $0.25 | $0.76 | ||
| Q1 24 | $0.30 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $211.7M |
| Total DebtLower is stronger | $5.1B | $793.2M |
| Stockholders' EquityBook value | $7.0B | $1.8B |
| Total Assets | $13.2B | $3.2B |
| Debt / EquityLower = less leverage | 0.72× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $211.7M | ||
| Q3 25 | $45.6M | $379.2M | ||
| Q2 25 | $323.3M | $189.2M | ||
| Q1 25 | $69.7M | $174.3M | ||
| Q4 24 | $199.4M | $132.0M | ||
| Q3 24 | $162.5M | $481.2M | ||
| Q2 24 | $718.4M | $359.2M | ||
| Q1 24 | $124.8M | $416.2M |
| Q4 25 | $5.1B | $793.2M | ||
| Q3 25 | $4.8B | $802.7M | ||
| Q2 25 | $5.2B | $872.8M | ||
| Q1 25 | $4.9B | $872.5M | ||
| Q4 24 | $5.0B | $806.8M | ||
| Q3 24 | $4.5B | $706.4M | ||
| Q2 24 | $5.0B | $706.1M | ||
| Q1 24 | $4.5B | $705.7M |
| Q4 25 | $7.0B | $1.8B | ||
| Q3 25 | $7.2B | $1.8B | ||
| Q2 25 | $7.2B | $1.7B | ||
| Q1 25 | $7.2B | $1.6B | ||
| Q4 24 | $7.2B | $1.6B | ||
| Q3 24 | $7.0B | $1.6B | ||
| Q2 24 | $7.0B | $1.5B | ||
| Q1 24 | $7.0B | $1.5B |
| Q4 25 | $13.2B | $3.2B | ||
| Q3 25 | $13.3B | $3.1B | ||
| Q2 25 | $13.6B | $3.1B | ||
| Q1 25 | $13.3B | $3.0B | ||
| Q4 24 | $13.4B | $3.0B | ||
| Q3 24 | $12.8B | $2.8B | ||
| Q2 24 | $13.3B | $2.7B | ||
| Q1 24 | $12.8B | $2.6B |
| Q4 25 | 0.72× | 0.44× | ||
| Q3 25 | 0.68× | 0.45× | ||
| Q2 25 | 0.72× | 0.52× | ||
| Q1 25 | 0.69× | 0.53× | ||
| Q4 24 | 0.70× | 0.50× | ||
| Q3 24 | 0.64× | 0.44× | ||
| Q2 24 | 0.71× | 0.47× | ||
| Q1 24 | 0.64× | 0.48× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $864.3M | $-157.0M |
| Free Cash FlowOCF − Capex | $823.7M | $-157.1M |
| FCF MarginFCF / Revenue | 181.0% | -57.5% |
| Capex IntensityCapex / Revenue | 8.9% | 0.0% |
| Cash ConversionOCF / Net Profit | 5.99× | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $-157.0M | ||
| Q3 25 | $223.3M | $256.3M | ||
| Q2 25 | $271.9M | $15.8M | ||
| Q1 25 | $223.4M | $-19.8M | ||
| Q4 24 | $811.5M | $-450.0M | ||
| Q3 24 | $233.6M | $119.2M | ||
| Q2 24 | $274.0M | $-61.7M | ||
| Q1 24 | $201.8M | $-59.2M |
| Q4 25 | $823.7M | $-157.1M | ||
| Q3 25 | $214.5M | $255.6M | ||
| Q2 25 | $257.7M | $15.0M | ||
| Q1 25 | $215.9M | $-20.5M | ||
| Q4 24 | $777.5M | — | ||
| Q3 24 | $225.3M | $118.4M | ||
| Q2 24 | $263.3M | $-62.3M | ||
| Q1 24 | $191.0M | $-59.8M |
| Q4 25 | 181.0% | -57.5% | ||
| Q3 25 | 44.8% | 38.1% | ||
| Q2 25 | 56.3% | 3.8% | ||
| Q1 25 | 47.0% | -5.8% | ||
| Q4 24 | 178.1% | — | ||
| Q3 24 | 50.6% | 21.5% | ||
| Q2 24 | 62.2% | -19.6% | ||
| Q1 24 | 45.1% | -17.9% |
| Q4 25 | 8.9% | 0.0% | ||
| Q3 25 | 1.8% | 0.1% | ||
| Q2 25 | 3.1% | 0.2% | ||
| Q1 25 | 1.6% | 0.2% | ||
| Q4 24 | 7.8% | 0.0% | ||
| Q3 24 | 1.9% | 0.1% | ||
| Q2 24 | 2.5% | 0.2% | ||
| Q1 24 | 2.6% | 0.2% |
| Q4 25 | 5.99× | -10.19× | ||
| Q3 25 | 1.91× | 2.95× | ||
| Q2 25 | 2.20× | 0.48× | ||
| Q1 25 | 1.74× | -0.63× | ||
| Q4 24 | 5.64× | -27.27× | ||
| Q3 24 | 2.67× | 1.46× | ||
| Q2 24 | 2.52× | -1.59× | ||
| Q1 24 | 1.58× | -1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
