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Side-by-side financial comparison of FEDERATED HERMES, INC. (FHI) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
FEDERATED HERMES, INC. is the larger business by last-quarter revenue ($479.0M vs $273.0M, roughly 1.8× Forestar Group Inc.). FEDERATED HERMES, INC. runs the higher net margin — 20.1% vs 5.6%, a 14.5% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs -0.8%). Over the past eight quarters, FEDERATED HERMES, INC.'s revenue compounded faster (9.1% CAGR vs -9.6%).
Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $902.6 billion of customer assets, as of December 2025. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clie...
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...
FHI vs FOR — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $479.0M | $273.0M |
| Net Profit | $96.4M | $15.4M |
| Gross Margin | — | 20.1% |
| Operating Margin | 26.4% | 7.6% |
| Net Margin | 20.1% | 5.6% |
| Revenue YoY | -0.8% | 9.0% |
| Net Profit YoY | — | -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.
| Q1 26 | $479.0M | — | ||
| Q4 25 | $482.8M | $273.0M | ||
| Q3 25 | $469.4M | $670.5M | ||
| Q2 25 | $424.8M | $390.5M | ||
| Q1 25 | $423.5M | $351.0M | ||
| Q4 24 | $424.7M | $250.4M | ||
| Q3 24 | $408.5M | $551.3M | ||
| Q2 24 | $402.6M | $318.4M |
| Q1 26 | $96.4M | — | ||
| Q4 25 | $107.0M | $15.4M | ||
| Q3 25 | $104.1M | $86.9M | ||
| Q2 25 | $91.0M | $32.9M | ||
| Q1 25 | $101.1M | $31.6M | ||
| Q4 24 | $84.7M | $16.5M | ||
| Q3 24 | $87.5M | $81.5M | ||
| Q2 24 | $21.0M | $38.7M |
| Q1 26 | — | — | ||
| 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 26 | 26.4% | — | ||
| Q4 25 | 28.1% | 7.6% | ||
| Q3 25 | 27.6% | 16.9% | ||
| Q2 25 | 27.6% | 11.2% | ||
| Q1 25 | 31.1% | 11.6% | ||
| Q4 24 | 26.0% | 8.7% | ||
| Q3 24 | 27.4% | 19.7% | ||
| Q2 24 | 10.1% | 16.2% |
| Q1 26 | 20.1% | — | ||
| Q4 25 | 22.2% | 5.6% | ||
| Q3 25 | 22.2% | 13.0% | ||
| Q2 25 | 21.4% | 8.4% | ||
| Q1 25 | 23.9% | 9.0% | ||
| Q4 24 | 19.9% | 6.6% | ||
| Q3 24 | 21.4% | 14.8% | ||
| Q2 24 | 5.2% | 12.2% |
| Q1 26 | — | — | ||
| Q4 25 | $1.38 | $0.30 | ||
| Q3 25 | $1.34 | $1.70 | ||
| Q2 25 | $1.16 | $0.65 | ||
| Q1 25 | $1.25 | $0.62 | ||
| Q4 24 | $1.08 | $0.32 | ||
| Q3 24 | $1.06 | $1.59 | ||
| Q2 24 | $0.20 | $0.76 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $211.7M |
| Total DebtLower is stronger | $348.4M | $793.2M |
| Stockholders' EquityBook value | $100.8B | $1.8B |
| Total Assets | $2.1B | $3.2B |
| Debt / EquityLower = less leverage | 0.00× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $582.5M | $211.7M | ||
| Q3 25 | $506.3M | $379.2M | ||
| Q2 25 | $371.0M | $189.2M | ||
| Q1 25 | $387.6M | $174.3M | ||
| Q4 24 | $504.4M | $132.0M | ||
| Q3 24 | $375.0M | $481.2M | ||
| Q2 24 | $307.4M | $359.2M |
| Q1 26 | $348.4M | — | ||
| Q4 25 | $348.4M | $793.2M | ||
| Q3 25 | $348.3M | $802.7M | ||
| Q2 25 | $348.2M | $872.8M | ||
| Q1 25 | $348.2M | $872.5M | ||
| Q4 24 | $348.1M | $806.8M | ||
| Q3 24 | $348.0M | $706.4M | ||
| Q2 24 | $348.0M | $706.1M |
| Q1 26 | $100.8B | — | ||
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.0B | $1.5B |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $3.2B | ||
| Q3 25 | $2.2B | $3.1B | ||
| Q2 25 | $2.2B | $3.1B | ||
| Q1 25 | $2.0B | $3.0B | ||
| Q4 24 | $2.1B | $3.0B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $1.9B | $2.7B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.29× | 0.44× | ||
| Q3 25 | 0.29× | 0.45× | ||
| Q2 25 | 0.31× | 0.52× | ||
| Q1 25 | 0.32× | 0.53× | ||
| Q4 24 | 0.32× | 0.50× | ||
| Q3 24 | 0.32× | 0.44× | ||
| Q2 24 | 0.34× | 0.47× |
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 | — | $-157.0M |
| Free Cash FlowOCF − Capex | — | $-157.1M |
| FCF MarginFCF / Revenue | — | -57.5% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $297.3M | $-157.0M | ||
| Q3 25 | $103.1M | $256.3M | ||
| Q2 25 | $18.8M | $15.8M | ||
| Q1 25 | $14.3M | $-19.8M | ||
| Q4 24 | $346.6M | $-450.0M | ||
| Q3 24 | $117.1M | $119.2M | ||
| Q2 24 | $88.7M | $-61.7M |
| Q1 26 | — | — | ||
| Q4 25 | $294.6M | $-157.1M | ||
| Q3 25 | $101.6M | $255.6M | ||
| Q2 25 | $18.0M | $15.0M | ||
| Q1 25 | $13.3M | $-20.5M | ||
| Q4 24 | $342.5M | — | ||
| Q3 24 | $114.1M | $118.4M | ||
| Q2 24 | $82.7M | $-62.3M |
| Q1 26 | — | — | ||
| Q4 25 | 61.0% | -57.5% | ||
| Q3 25 | 21.6% | 38.1% | ||
| Q2 25 | 4.2% | 3.8% | ||
| Q1 25 | 3.1% | -5.8% | ||
| Q4 24 | 80.7% | — | ||
| Q3 24 | 27.9% | 21.5% | ||
| Q2 24 | 20.5% | -19.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 0.0% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.2% | 0.2% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.9% | 0.0% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 1.5% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | -10.19× | ||
| Q3 25 | 0.99× | 2.95× | ||
| Q2 25 | 0.21× | 0.48× | ||
| Q1 25 | 0.14× | -0.63× | ||
| Q4 24 | 4.09× | -27.27× | ||
| Q3 24 | 1.34× | 1.46× | ||
| Q2 24 | 4.22× | -1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHI
| Investment advisory fees, net | $319.4M | 67% |
| Administrative service fees, net-affiliates | $110.3M | 23% |
| Other | $49.3M | 10% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
