vs
Side-by-side financial comparison of Forestar Group Inc. (FOR) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $120.6M, roughly 2.3× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 5.6%, a 42.5% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs -11.0%). Kennedy-Wilson Holdings, Inc. produced more free cash flow last quarter ($-55.2M vs $-157.1M). Over the past eight quarters, Kennedy-Wilson Holdings, Inc.'s revenue compounded faster (-6.0% 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...
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
FOR vs KW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $120.6M |
| Net Profit | $15.4M | $58.0M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 57.3% |
| Net Margin | 5.6% | 48.1% |
| Revenue YoY | 9.0% | -11.0% |
| Net Profit YoY | -6.7% | 32.7% |
| EPS (diluted) | $0.30 | $0.22 |
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 | $120.6M | ||
| Q3 25 | $670.5M | $116.4M | ||
| Q2 25 | $390.5M | $135.7M | ||
| Q1 25 | $351.0M | $128.3M | ||
| Q4 24 | $250.4M | $135.5M | ||
| Q3 24 | $551.3M | $127.5M | ||
| Q2 24 | $318.4M | $132.0M | ||
| Q1 24 | $333.8M | $136.4M |
| Q4 25 | $15.4M | $58.0M | ||
| Q3 25 | $86.9M | $-10.2M | ||
| Q2 25 | $32.9M | $5.6M | ||
| Q1 25 | $31.6M | $-29.6M | ||
| Q4 24 | $16.5M | $43.7M | ||
| Q3 24 | $81.5M | $-66.8M | ||
| Q2 24 | $38.7M | $-48.3M | ||
| Q1 24 | $45.0M | $37.7M |
| 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% | 57.3% | ||
| Q3 25 | 16.9% | -6.2% | ||
| Q2 25 | 11.2% | 7.4% | ||
| Q1 25 | 11.6% | -26.9% | ||
| Q4 24 | 8.7% | 36.7% | ||
| Q3 24 | 19.7% | -60.8% | ||
| Q2 24 | 16.2% | -45.5% | ||
| Q1 24 | 17.6% | 47.2% |
| Q4 25 | 5.6% | 48.1% | ||
| Q3 25 | 13.0% | -8.8% | ||
| Q2 25 | 8.4% | 4.1% | ||
| Q1 25 | 9.0% | -23.1% | ||
| Q4 24 | 6.6% | 32.3% | ||
| Q3 24 | 14.8% | -52.4% | ||
| Q2 24 | 12.2% | -36.6% | ||
| Q1 24 | 13.5% | 27.6% |
| Q4 25 | $0.30 | $0.22 | ||
| Q3 25 | $1.70 | $-0.15 | ||
| Q2 25 | $0.65 | $-0.05 | ||
| Q1 25 | $0.62 | $-0.30 | ||
| Q4 24 | $0.32 | $0.24 | ||
| Q3 24 | $1.59 | $-0.56 | ||
| Q2 24 | $0.76 | $-0.43 | ||
| Q1 24 | $0.89 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | $793.2M | — |
| Stockholders' EquityBook value | $1.8B | $1.5B |
| Total Assets | $3.2B | $6.6B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $184.5M | ||
| Q3 25 | $379.2M | $382.6M | ||
| Q2 25 | $189.2M | $309.1M | ||
| Q1 25 | $174.3M | $356.6M | ||
| Q4 24 | $132.0M | $217.5M | ||
| Q3 24 | $481.2M | $367.1M | ||
| Q2 24 | $359.2M | $366.5M | ||
| Q1 24 | $416.2M | $541.9M |
| 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 | $1.5B | ||
| Q3 25 | $1.8B | $1.5B | ||
| Q2 25 | $1.7B | $1.6B | ||
| Q1 25 | $1.6B | $1.6B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.7B | ||
| Q1 24 | $1.5B | $1.7B |
| Q4 25 | $3.2B | $6.6B | ||
| Q3 25 | $3.1B | $6.7B | ||
| Q2 25 | $3.1B | $6.8B | ||
| Q1 25 | $3.0B | $7.2B | ||
| Q4 24 | $3.0B | $7.0B | ||
| Q3 24 | $2.8B | $7.4B | ||
| Q2 24 | $2.7B | $7.5B | ||
| Q1 24 | $2.6B | $7.7B |
| 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 | $11.4M |
| Free Cash FlowOCF − Capex | $-157.1M | $-55.2M |
| FCF MarginFCF / Revenue | -57.5% | -45.8% |
| Capex IntensityCapex / Revenue | 0.0% | 55.2% |
| Cash ConversionOCF / Net Profit | -10.19× | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $11.4M | ||
| Q3 25 | $256.3M | $-7.6M | ||
| Q2 25 | $15.8M | $42.0M | ||
| Q1 25 | $-19.8M | $-51.9M | ||
| Q4 24 | $-450.0M | $55.1M | ||
| Q3 24 | $119.2M | $-5.6M | ||
| Q2 24 | $-61.7M | $36.7M | ||
| Q1 24 | $-59.2M | $-5.6M |
| Q4 25 | $-157.1M | $-55.2M | ||
| Q3 25 | $255.6M | $-18.0M | ||
| Q2 25 | $15.0M | $29.4M | ||
| Q1 25 | $-20.5M | $-59.7M | ||
| Q4 24 | — | $-76.5M | ||
| Q3 24 | $118.4M | $-27.7M | ||
| Q2 24 | $-62.3M | $-500.0K | ||
| Q1 24 | $-59.8M | $-57.1M |
| Q4 25 | -57.5% | -45.8% | ||
| Q3 25 | 38.1% | -15.5% | ||
| Q2 25 | 3.8% | 21.7% | ||
| Q1 25 | -5.8% | -46.5% | ||
| Q4 24 | — | -56.5% | ||
| Q3 24 | 21.5% | -21.7% | ||
| Q2 24 | -19.6% | -0.4% | ||
| Q1 24 | -17.9% | -41.9% |
| Q4 25 | 0.0% | 55.2% | ||
| Q3 25 | 0.1% | 8.9% | ||
| Q2 25 | 0.2% | 9.3% | ||
| Q1 25 | 0.2% | 6.1% | ||
| Q4 24 | 0.0% | 97.1% | ||
| Q3 24 | 0.1% | 17.3% | ||
| Q2 24 | 0.2% | 28.2% | ||
| Q1 24 | 0.2% | 37.8% |
| Q4 25 | -10.19× | 0.20× | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 0.48× | 7.50× | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 1.26× | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -1.32× | -0.15× |
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% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
