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Side-by-side financial comparison of AMERICAN STATES WATER CO (AWR) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $164.3M, roughly 1.7× AMERICAN STATES WATER CO). AMERICAN STATES WATER CO runs the higher net margin — 17.5% vs 5.6%, a 11.9% gap on every dollar of revenue. On growth, AMERICAN STATES WATER CO posted the faster year-over-year revenue change (14.8% vs 9.0%). AMERICAN STATES WATER CO produced more free cash flow last quarter ($-36.0M vs $-157.1M). Over the past eight quarters, AMERICAN STATES WATER CO's revenue compounded faster (10.2% CAGR vs -9.6%).
American Water is an American public utility company that, through its subsidiaries, provides water and wastewater services in the United States.
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...
AWR vs FOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $164.3M | $273.0M |
| Net Profit | $28.7M | $15.4M |
| Gross Margin | 88.9% | 20.1% |
| Operating Margin | 27.4% | 7.6% |
| Net Margin | 17.5% | 5.6% |
| Revenue YoY | 14.8% | 9.0% |
| Net Profit YoY | 1.1% | -6.7% |
| EPS (diluted) | $0.74 | $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 | $164.3M | $273.0M | ||
| Q3 25 | $182.7M | $670.5M | ||
| Q2 25 | $163.1M | $390.5M | ||
| Q1 25 | $148.0M | $351.0M | ||
| Q4 24 | $143.1M | $250.4M | ||
| Q3 24 | $161.8M | $551.3M | ||
| Q2 24 | $155.3M | $318.4M | ||
| Q1 24 | $135.3M | $333.8M |
| Q4 25 | $28.7M | $15.4M | ||
| Q3 25 | $41.2M | $86.9M | ||
| Q2 25 | $33.7M | $32.9M | ||
| Q1 25 | $26.8M | $31.6M | ||
| Q4 24 | $28.4M | $16.5M | ||
| Q3 24 | $35.8M | $81.5M | ||
| Q2 24 | $31.9M | $38.7M | ||
| Q1 24 | $23.1M | $45.0M |
| Q4 25 | 88.9% | 20.1% | ||
| Q3 25 | 91.0% | 22.3% | ||
| Q2 25 | 92.1% | 20.4% | ||
| Q1 25 | 91.3% | 22.6% | ||
| Q4 24 | 92.4% | 22.0% | ||
| Q3 24 | 92.7% | 23.9% | ||
| Q2 24 | 89.6% | 22.5% | ||
| Q1 24 | 88.4% | 24.9% |
| Q4 25 | 27.4% | 7.6% | ||
| Q3 25 | 33.8% | 16.9% | ||
| Q2 25 | 31.3% | 11.2% | ||
| Q1 25 | 30.8% | 11.6% | ||
| Q4 24 | 27.0% | 8.7% | ||
| Q3 24 | 34.0% | 19.7% | ||
| Q2 24 | 33.3% | 16.2% | ||
| Q1 24 | 28.8% | 17.6% |
| Q4 25 | 17.5% | 5.6% | ||
| Q3 25 | 22.5% | 13.0% | ||
| Q2 25 | 20.7% | 8.4% | ||
| Q1 25 | 18.1% | 9.0% | ||
| Q4 24 | 19.9% | 6.6% | ||
| Q3 24 | 22.1% | 14.8% | ||
| Q2 24 | 20.5% | 12.2% | ||
| Q1 24 | 17.1% | 13.5% |
| Q4 25 | $0.74 | $0.30 | ||
| Q3 25 | $1.06 | $1.70 | ||
| Q2 25 | $0.87 | $0.65 | ||
| Q1 25 | $0.70 | $0.62 | ||
| Q4 24 | $0.75 | $0.32 | ||
| Q3 24 | $0.95 | $1.59 | ||
| Q2 24 | $0.85 | $0.76 | ||
| Q1 24 | $0.62 | $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 | $18.8M | $211.7M |
| Total DebtLower is stronger | $782.7M | $793.2M |
| Stockholders' EquityBook value | $1.0B | $1.8B |
| Total Assets | $2.7B | $3.2B |
| Debt / EquityLower = less leverage | 0.75× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.8M | $211.7M | ||
| Q3 25 | $26.1M | $379.2M | ||
| Q2 25 | $20.2M | $189.2M | ||
| Q1 25 | $21.2M | $174.3M | ||
| Q4 24 | $26.7M | $132.0M | ||
| Q3 24 | $16.5M | $481.2M | ||
| Q2 24 | $3.6M | $359.2M | ||
| Q1 24 | $17.0M | $416.2M |
| Q4 25 | $782.7M | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | $640.4M | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
| Q4 25 | $1.0B | $1.8B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $972.5M | $1.7B | ||
| Q1 25 | $956.4M | $1.6B | ||
| Q4 24 | $920.1M | $1.6B | ||
| Q3 24 | $879.5M | $1.6B | ||
| Q2 24 | $833.5M | $1.5B | ||
| Q1 24 | $800.5M | $1.5B |
| Q4 25 | $2.7B | $3.2B | ||
| Q3 25 | $2.7B | $3.1B | ||
| Q2 25 | $2.6B | $3.1B | ||
| Q1 25 | $2.5B | $3.0B | ||
| Q4 24 | $2.5B | $3.0B | ||
| Q3 24 | $2.4B | $2.8B | ||
| Q2 24 | $2.3B | $2.7B | ||
| Q1 24 | $2.3B | $2.6B |
| Q4 25 | 0.75× | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 0.70× | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 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 | $27.7M | $-157.0M |
| Free Cash FlowOCF − Capex | $-36.0M | $-157.1M |
| FCF MarginFCF / Revenue | -21.9% | -57.5% |
| Capex IntensityCapex / Revenue | 38.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.96× | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-7.1M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.7M | $-157.0M | ||
| Q3 25 | $92.4M | $256.3M | ||
| Q2 25 | $64.6M | $15.8M | ||
| Q1 25 | $45.1M | $-19.8M | ||
| Q4 24 | $64.5M | $-450.0M | ||
| Q3 24 | $63.7M | $119.2M | ||
| Q2 24 | $24.7M | $-61.7M | ||
| Q1 24 | $45.8M | $-59.2M |
| Q4 25 | $-36.0M | $-157.1M | ||
| Q3 25 | $37.7M | $255.6M | ||
| Q2 25 | $13.7M | $15.0M | ||
| Q1 25 | $-22.5M | $-20.5M | ||
| Q4 24 | $6.0M | — | ||
| Q3 24 | $-478.0K | $118.4M | ||
| Q2 24 | $-37.0M | $-62.3M | ||
| Q1 24 | $-1.7M | $-59.8M |
| Q4 25 | -21.9% | -57.5% | ||
| Q3 25 | 20.7% | 38.1% | ||
| Q2 25 | 8.4% | 3.8% | ||
| Q1 25 | -15.2% | -5.8% | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | -0.3% | 21.5% | ||
| Q2 24 | -23.8% | -19.6% | ||
| Q1 24 | -1.3% | -17.9% |
| Q4 25 | 38.8% | 0.0% | ||
| Q3 25 | 29.9% | 0.1% | ||
| Q2 25 | 31.2% | 0.2% | ||
| Q1 25 | 45.6% | 0.2% | ||
| Q4 24 | 40.9% | 0.0% | ||
| Q3 24 | 39.7% | 0.1% | ||
| Q2 24 | 39.8% | 0.2% | ||
| Q1 24 | 35.2% | 0.2% |
| Q4 25 | 0.96× | -10.19× | ||
| Q3 25 | 2.24× | 2.95× | ||
| Q2 25 | 1.92× | 0.48× | ||
| Q1 25 | 1.68× | -0.63× | ||
| Q4 24 | 2.27× | -27.27× | ||
| Q3 24 | 1.78× | 1.46× | ||
| Q2 24 | 0.78× | -1.59× | ||
| Q1 24 | 1.98× | -1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AWR
| Water Service Utility Operations | $110.0M | 67% |
| Public Utilities Inventory Water | $22.3M | 14% |
| Wastewater | $15.9M | 10% |
| Electric Service Utility Operations | $15.2M | 9% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
