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Side-by-side financial comparison of CLEANSPARK, INC. (CLSK) 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 $181.2M, roughly 1.5× CLEANSPARK, INC.). Forestar Group Inc. runs the higher net margin — 5.6% vs -209.0%, a 214.7% gap on every dollar of revenue. On growth, CLEANSPARK, INC. posted the faster year-over-year revenue change (11.6% vs 9.0%). Forestar Group Inc. produced more free cash flow last quarter ($-157.1M vs $-198.1M). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs -9.6%).
CleanSpark, Inc. is a U.S.-headquartered sustainable technology company operating two core business segments: low-carbon Bitcoin mining powered primarily by renewable and stranded energy resources, and end-to-end microgrid design, deployment, and operation services for commercial, industrial, and public sector clients across North America.
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...
CLSK vs FOR — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.2M | $273.0M |
| Net Profit | $-378.7M | $15.4M |
| Gross Margin | 47.2% | 20.1% |
| Operating Margin | -174.7% | 7.6% |
| Net Margin | -209.0% | 5.6% |
| Revenue YoY | 11.6% | 9.0% |
| Net Profit YoY | -253.5% | -6.7% |
| EPS (diluted) | — | $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 | $181.2M | $273.0M | ||
| Q3 25 | — | $670.5M | ||
| Q2 25 | — | $390.5M | ||
| Q1 25 | — | $351.0M | ||
| Q4 24 | — | $250.4M | ||
| Q3 24 | $89.3M | $551.3M | ||
| Q2 24 | $104.1M | $318.4M | ||
| Q1 24 | $111.8M | $333.8M |
| Q4 25 | $-378.7M | $15.4M | ||
| Q3 25 | — | $86.9M | ||
| Q2 25 | — | $32.9M | ||
| Q1 25 | — | $31.6M | ||
| Q4 24 | — | $16.5M | ||
| Q3 24 | $-62.2M | $81.5M | ||
| Q2 24 | $-236.2M | $38.7M | ||
| Q1 24 | $126.7M | $45.0M |
| Q4 25 | 47.2% | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | 36.0% | 23.9% | ||
| Q2 24 | 56.6% | 22.5% | ||
| Q1 24 | 69.3% | 24.9% |
| Q4 25 | -174.7% | 7.6% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 11.2% | ||
| Q1 25 | — | 11.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | -73.5% | 19.7% | ||
| Q2 24 | -239.2% | 16.2% | ||
| Q1 24 | — | 17.6% |
| Q4 25 | -209.0% | 5.6% | ||
| Q3 25 | — | 13.0% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | -69.6% | 14.8% | ||
| Q2 24 | -226.9% | 12.2% | ||
| Q1 24 | 113.4% | 13.5% |
| Q4 25 | — | $0.30 | ||
| Q3 25 | — | $1.70 | ||
| Q2 25 | — | $0.65 | ||
| Q1 25 | — | $0.62 | ||
| Q4 24 | — | $0.32 | ||
| Q3 24 | — | $1.59 | ||
| Q2 24 | — | $0.76 | ||
| Q1 24 | — | $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 | $458.1M | $211.7M |
| Total DebtLower is stronger | $1.8B | $793.2M |
| Stockholders' EquityBook value | $1.4B | $1.8B |
| Total Assets | $3.3B | $3.2B |
| Debt / EquityLower = less leverage | 1.29× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $458.1M | $211.7M | ||
| Q3 25 | — | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | $121.2M | $481.2M | ||
| Q2 24 | $126.1M | $359.2M | ||
| Q1 24 | — | $416.2M |
| Q4 25 | $1.8B | $793.2M | ||
| Q3 25 | — | $802.7M | ||
| Q2 25 | — | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | — | $806.8M | ||
| Q3 24 | $7.2M | $706.4M | ||
| Q2 24 | $1.3M | $706.1M | ||
| Q1 24 | $5.1M | $705.7M |
| Q4 25 | $1.4B | $1.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $1.8B | $1.6B | ||
| Q2 24 | $1.4B | $1.5B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | $3.3B | $3.2B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $1.5B | $2.7B | ||
| Q1 24 | $1.5B | $2.6B |
| Q4 25 | 1.29× | 0.44× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | 0.00× | 0.44× | ||
| Q2 24 | 0.00× | 0.47× | ||
| Q1 24 | 0.00× | 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 | $-161.1M | $-157.0M |
| Free Cash FlowOCF − Capex | $-198.1M | $-157.1M |
| FCF MarginFCF / Revenue | -109.3% | -57.5% |
| Capex IntensityCapex / Revenue | 20.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-626.9M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-161.1M | $-157.0M | ||
| Q3 25 | — | $256.3M | ||
| Q2 25 | — | $15.8M | ||
| Q1 25 | — | $-19.8M | ||
| Q4 24 | — | $-450.0M | ||
| Q3 24 | $-233.7M | $119.2M | ||
| Q2 24 | $-58.4M | $-61.7M | ||
| Q1 24 | $-44.8M | $-59.2M |
| Q4 25 | $-198.1M | $-157.1M | ||
| Q3 25 | — | $255.6M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $-20.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-299.8M | $118.4M | ||
| Q2 24 | $-68.7M | $-62.3M | ||
| Q1 24 | $-60.3M | $-59.8M |
| Q4 25 | -109.3% | -57.5% | ||
| Q3 25 | — | 38.1% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | -335.8% | 21.5% | ||
| Q2 24 | -66.0% | -19.6% | ||
| Q1 24 | -54.0% | -17.9% |
| Q4 25 | 20.4% | 0.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 74.0% | 0.1% | ||
| Q2 24 | 9.9% | 0.2% | ||
| Q1 24 | 13.8% | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | -0.63× | ||
| Q4 24 | — | -27.27× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | -0.35× | -1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLSK
Segment breakdown not available.
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
