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Side-by-side financial comparison of Forestar Group Inc. (FOR) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $246.2M, roughly 1.1× HCI Group, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 5.6%, a 34.0% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 9.0%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-157.1M). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs -9.6%).
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...
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
FOR vs HCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $246.2M |
| Net Profit | $15.4M | $97.7M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 58.5% |
| Net Margin | 5.6% | 39.7% |
| Revenue YoY | 9.0% | 52.1% |
| Net Profit YoY | -6.7% | 3679.2% |
| EPS (diluted) | $0.30 | $7.29 |
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 | $273.0M | $246.2M | ||
| Q3 25 | $670.5M | $216.3M | ||
| Q2 25 | $390.5M | $221.9M | ||
| Q1 25 | $351.0M | $216.4M | ||
| Q4 24 | $250.4M | $161.9M | ||
| Q3 24 | $551.3M | $175.3M | ||
| Q2 24 | $318.4M | $206.2M | ||
| Q1 24 | $333.8M | $206.6M |
| Q4 25 | $15.4M | $97.7M | ||
| Q3 25 | $86.9M | $65.5M | ||
| Q2 25 | $32.9M | $66.2M | ||
| Q1 25 | $31.6M | $69.7M | ||
| Q4 24 | $16.5M | $2.6M | ||
| Q3 24 | $81.5M | $5.7M | ||
| Q2 24 | $38.7M | $54.1M | ||
| Q1 24 | $45.0M | $47.6M |
| 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% | 58.5% | ||
| Q3 25 | 16.9% | 41.9% | ||
| Q2 25 | 11.2% | 42.5% | ||
| Q1 25 | 11.6% | 46.4% | ||
| Q4 24 | 8.7% | 3.6% | ||
| Q3 24 | 19.7% | 8.0% | ||
| Q2 24 | 16.2% | 36.9% | ||
| Q1 24 | 17.6% | 37.5% |
| Q4 25 | 5.6% | 39.7% | ||
| Q3 25 | 13.0% | 30.3% | ||
| Q2 25 | 8.4% | 29.8% | ||
| Q1 25 | 9.0% | 32.2% | ||
| Q4 24 | 6.6% | 1.6% | ||
| Q3 24 | 14.8% | 3.2% | ||
| Q2 24 | 12.2% | 26.2% | ||
| Q1 24 | 13.5% | 23.0% |
| Q4 25 | $0.30 | $7.29 | ||
| Q3 25 | $1.70 | $4.90 | ||
| Q2 25 | $0.65 | $5.18 | ||
| Q1 25 | $0.62 | $5.35 | ||
| Q4 24 | $0.32 | $0.32 | ||
| Q3 24 | $1.59 | $0.52 | ||
| Q2 24 | $0.76 | $4.24 | ||
| Q1 24 | $0.89 | $3.81 |
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 | $1.2B |
| Total DebtLower is stronger | $793.2M | — |
| Stockholders' EquityBook value | $1.8B | $1.0B |
| Total Assets | $3.2B | $2.5B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $1.2B | ||
| Q3 25 | $379.2M | $987.9M | ||
| Q2 25 | $189.2M | $947.2M | ||
| Q1 25 | $174.3M | $754.5M | ||
| Q4 24 | $132.0M | $532.5M | ||
| Q3 24 | $481.2M | $518.8M | ||
| Q2 24 | $359.2M | $445.8M | ||
| Q1 24 | $416.2M | $655.4M |
| Q4 25 | $793.2M | — | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | — | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.8B | $821.8M | ||
| Q2 25 | $1.7B | $758.6M | ||
| Q1 25 | $1.6B | $522.7M | ||
| Q4 24 | $1.6B | $453.3M | ||
| Q3 24 | $1.6B | $455.3M | ||
| Q2 24 | $1.5B | $447.3M | ||
| Q1 24 | $1.5B | $395.7M |
| Q4 25 | $3.2B | $2.5B | ||
| Q3 25 | $3.1B | $2.3B | ||
| Q2 25 | $3.1B | $2.4B | ||
| Q1 25 | $3.0B | $2.3B | ||
| Q4 24 | $3.0B | $2.2B | ||
| Q3 24 | $2.8B | $2.0B | ||
| Q2 24 | $2.7B | $1.9B | ||
| Q1 24 | $2.6B | $1.8B |
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 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 | $-157.0M | $444.4M |
| Free Cash FlowOCF − Capex | $-157.1M | $440.8M |
| FCF MarginFCF / Revenue | -57.5% | 179.0% |
| Capex IntensityCapex / Revenue | 0.0% | 1.5% |
| Cash ConversionOCF / Net Profit | -10.19× | 4.55× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | $771.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $444.4M | ||
| Q3 25 | $256.3M | $26.7M | ||
| Q2 25 | $15.8M | $145.0M | ||
| Q1 25 | $-19.8M | $162.0M | ||
| Q4 24 | $-450.0M | $331.8M | ||
| Q3 24 | $119.2M | $104.1M | ||
| Q2 24 | $-61.7M | $-29.0M | ||
| Q1 24 | $-59.2M | $182.0M |
| Q4 25 | $-157.1M | $440.8M | ||
| Q3 25 | $255.6M | $25.9M | ||
| Q2 25 | $15.0M | $144.5M | ||
| Q1 25 | $-20.5M | $160.3M | ||
| Q4 24 | — | $327.8M | ||
| Q3 24 | $118.4M | $103.2M | ||
| Q2 24 | $-62.3M | $-30.1M | ||
| Q1 24 | $-59.8M | $181.0M |
| Q4 25 | -57.5% | 179.0% | ||
| Q3 25 | 38.1% | 12.0% | ||
| Q2 25 | 3.8% | 65.1% | ||
| Q1 25 | -5.8% | 74.1% | ||
| Q4 24 | — | 202.5% | ||
| Q3 24 | 21.5% | 58.9% | ||
| Q2 24 | -19.6% | -14.6% | ||
| Q1 24 | -17.9% | 87.6% |
| Q4 25 | 0.0% | 1.5% | ||
| Q3 25 | 0.1% | 0.4% | ||
| Q2 25 | 0.2% | 0.2% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | 0.0% | 2.5% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.2% | 0.5% | ||
| Q1 24 | 0.2% | 0.5% |
| Q4 25 | -10.19× | 4.55× | ||
| Q3 25 | 2.95× | 0.41× | ||
| Q2 25 | 0.48× | 2.19× | ||
| Q1 25 | -0.63× | 2.32× | ||
| Q4 24 | -27.27× | 128.41× | ||
| Q3 24 | 1.46× | 18.33× | ||
| Q2 24 | -1.59× | -0.54× | ||
| Q1 24 | -1.32× | 3.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
