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Side-by-side financial comparison of Forestar Group Inc. (FOR) and H2O AMERICA (HTO). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $199.4M, roughly 1.4× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 5.6%, a 2.5% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% 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...
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
FOR vs HTO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $199.4M |
| Net Profit | $15.4M | $16.2M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 16.6% |
| Net Margin | 5.6% | 8.1% |
| Revenue YoY | 9.0% | 1.5% |
| Net Profit YoY | -6.7% | -29.2% |
| EPS (diluted) | $0.30 | $0.45 |
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 | $199.4M | ||
| Q3 25 | $670.5M | $243.5M | ||
| Q2 25 | $390.5M | $197.8M | ||
| Q1 25 | $351.0M | $164.9M | ||
| Q4 24 | $250.4M | $196.5M | ||
| Q3 24 | $551.3M | $216.7M | ||
| Q2 24 | $318.4M | $173.1M | ||
| Q1 24 | $333.8M | $150.0M |
| Q4 25 | $15.4M | $16.2M | ||
| Q3 25 | $86.9M | $45.1M | ||
| Q2 25 | $32.9M | $24.7M | ||
| Q1 25 | $31.6M | $16.6M | ||
| Q4 24 | $16.5M | $22.9M | ||
| Q3 24 | $81.5M | $38.7M | ||
| Q2 24 | $38.7M | $20.7M | ||
| Q1 24 | $45.0M | $11.7M |
| 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% | 16.6% | ||
| Q3 25 | 16.9% | 26.5% | ||
| Q2 25 | 11.2% | 22.2% | ||
| Q1 25 | 11.6% | 21.8% | ||
| Q4 24 | 8.7% | 22.2% | ||
| Q3 24 | 19.7% | 26.9% | ||
| Q2 24 | 16.2% | 23.4% | ||
| Q1 24 | 17.6% | 18.6% |
| Q4 25 | 5.6% | 8.1% | ||
| Q3 25 | 13.0% | 18.5% | ||
| Q2 25 | 8.4% | 12.5% | ||
| Q1 25 | 9.0% | 10.0% | ||
| Q4 24 | 6.6% | 11.7% | ||
| Q3 24 | 14.8% | 17.8% | ||
| Q2 24 | 12.2% | 12.0% | ||
| Q1 24 | 13.5% | 7.8% |
| Q4 25 | $0.30 | $0.45 | ||
| Q3 25 | $1.70 | $1.27 | ||
| Q2 25 | $0.65 | $0.71 | ||
| Q1 25 | $0.62 | $0.49 | ||
| Q4 24 | $0.32 | $0.70 | ||
| Q3 24 | $1.59 | $1.17 | ||
| Q2 24 | $0.76 | $0.64 | ||
| Q1 24 | $0.89 | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | $793.2M | $1.9B |
| Stockholders' EquityBook value | $1.8B | $1.5B |
| Total Assets | $3.2B | $5.1B |
| Debt / EquityLower = less leverage | 0.44× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $20.7M | ||
| Q3 25 | $379.2M | $11.3M | ||
| Q2 25 | $189.2M | $19.8M | ||
| Q1 25 | $174.3M | $23.7M | ||
| Q4 24 | $132.0M | $11.1M | ||
| Q3 24 | $481.2M | $4.0M | ||
| Q2 24 | $359.2M | $22.8M | ||
| Q1 24 | $416.2M | $4.5M |
| Q4 25 | $793.2M | $1.9B | ||
| Q3 25 | $802.7M | — | ||
| Q2 25 | $872.8M | — | ||
| Q1 25 | $872.5M | — | ||
| Q4 24 | $806.8M | $1.7B | ||
| Q3 24 | $706.4M | — | ||
| Q2 24 | $706.1M | — | ||
| Q1 24 | $705.7M | — |
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.6B | $1.4B | ||
| Q4 24 | $1.6B | $1.4B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $1.5B | $1.2B |
| Q4 25 | $3.2B | $5.1B | ||
| Q3 25 | $3.1B | $5.0B | ||
| Q2 25 | $3.1B | $4.8B | ||
| Q1 25 | $3.0B | $4.7B | ||
| Q4 24 | $3.0B | $4.7B | ||
| Q3 24 | $2.8B | $4.6B | ||
| Q2 24 | $2.7B | $4.4B | ||
| Q1 24 | $2.6B | $4.4B |
| Q4 25 | 0.44× | 1.23× | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.50× | 1.26× | ||
| 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 | $63.5M |
| Free Cash FlowOCF − Capex | $-157.1M | — |
| FCF MarginFCF / Revenue | -57.5% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -10.19× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $63.5M | ||
| Q3 25 | $256.3M | $77.3M | ||
| Q2 25 | $15.8M | $60.8M | ||
| Q1 25 | $-19.8M | $43.2M | ||
| Q4 24 | $-450.0M | $41.5M | ||
| Q3 24 | $119.2M | $53.5M | ||
| Q2 24 | $-61.7M | $49.3M | ||
| Q1 24 | $-59.2M | $51.2M |
| Q4 25 | $-157.1M | — | ||
| Q3 25 | $255.6M | — | ||
| Q2 25 | $15.0M | — | ||
| Q1 25 | $-20.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $-62.3M | — | ||
| Q1 24 | $-59.8M | — |
| Q4 25 | -57.5% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 3.8% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 21.5% | — | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -17.9% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.2% | — |
| Q4 25 | -10.19× | 3.92× | ||
| Q3 25 | 2.95× | 1.71× | ||
| Q2 25 | 0.48× | 2.47× | ||
| Q1 25 | -0.63× | 2.61× | ||
| Q4 24 | -27.27× | 1.81× | ||
| Q3 24 | 1.46× | 1.39× | ||
| Q2 24 | -1.59× | 2.38× | ||
| Q1 24 | -1.32× | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
