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Side-by-side financial comparison of Forestar Group Inc. (FOR) and Pangaea Logistics Solutions Ltd. (PANL). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $183.9M, roughly 1.5× Pangaea Logistics Solutions Ltd.). Pangaea Logistics Solutions Ltd. runs the higher net margin — 6.5% vs 5.6%, a 0.8% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 9.0%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% 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...
Pangaea Logistics Solutions Ltd. is a global dry bulk logistics and shipping service provider. It operates a modern fleet of dry bulk vessels to transport a wide range of commodities including grains, minerals, construction materials, and energy-related raw materials, serving industrial, agricultural, and energy sector clients across North America, Europe, and Asia with tailored end-to-end bulk cargo supply chain solutions.
FOR vs PANL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $183.9M |
| Net Profit | $15.4M | $11.9M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 9.5% |
| Net Margin | 5.6% | 6.5% |
| Revenue YoY | 9.0% | 24.9% |
| Net Profit YoY | -6.7% | 40.9% |
| EPS (diluted) | $0.30 | $0.18 |
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 | $183.9M | ||
| Q3 25 | $670.5M | $168.7M | ||
| Q2 25 | $390.5M | $156.7M | ||
| Q1 25 | $351.0M | $122.8M | ||
| Q4 24 | $250.4M | $147.2M | ||
| Q3 24 | $551.3M | $153.1M | ||
| Q2 24 | $318.4M | $131.5M | ||
| Q1 24 | $333.8M | $104.7M |
| Q4 25 | $15.4M | $11.9M | ||
| Q3 25 | $86.9M | $12.2M | ||
| Q2 25 | $32.9M | $-2.7M | ||
| Q1 25 | $31.6M | $-2.0M | ||
| Q4 24 | $16.5M | $8.4M | ||
| Q3 24 | $81.5M | $5.1M | ||
| Q2 24 | $38.7M | $3.7M | ||
| 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% | 9.5% | ||
| Q3 25 | 16.9% | 10.0% | ||
| Q2 25 | 11.2% | 2.3% | ||
| Q1 25 | 11.6% | 2.4% | ||
| Q4 24 | 8.7% | 10.1% | ||
| Q3 24 | 19.7% | 9.8% | ||
| Q2 24 | 16.2% | 5.8% | ||
| Q1 24 | 17.6% | 10.5% |
| Q4 25 | 5.6% | 6.5% | ||
| Q3 25 | 13.0% | 7.2% | ||
| Q2 25 | 8.4% | -1.8% | ||
| Q1 25 | 9.0% | -1.6% | ||
| Q4 24 | 6.6% | 5.7% | ||
| Q3 24 | 14.8% | 3.3% | ||
| Q2 24 | 12.2% | 2.8% | ||
| Q1 24 | 13.5% | 11.1% |
| Q4 25 | $0.30 | $0.18 | ||
| Q3 25 | $1.70 | $0.19 | ||
| Q2 25 | $0.65 | $-0.04 | ||
| Q1 25 | $0.62 | $-0.03 | ||
| Q4 24 | $0.32 | $0.19 | ||
| Q3 24 | $1.59 | $0.11 | ||
| Q2 24 | $0.76 | $0.08 | ||
| Q1 24 | $0.89 | $0.25 |
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 | $103.1M |
| Total DebtLower is stronger | $793.2M | $249.6M |
| Stockholders' EquityBook value | $1.8B | $429.3M |
| Total Assets | $3.2B | $928.1M |
| Debt / EquityLower = less leverage | 0.44× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $103.1M | ||
| Q3 25 | $379.2M | $94.0M | ||
| Q2 25 | $189.2M | $59.3M | ||
| Q1 25 | $174.3M | $63.9M | ||
| Q4 24 | $132.0M | $86.8M | ||
| Q3 24 | $481.2M | $93.1M | ||
| Q2 24 | $359.2M | $77.9M | ||
| Q1 24 | $416.2M | $95.9M |
| Q4 25 | $793.2M | $249.6M | ||
| Q3 25 | $802.7M | $256.2M | ||
| Q2 25 | $872.8M | $244.7M | ||
| Q1 25 | $872.5M | $251.0M | ||
| Q4 24 | $806.8M | $257.2M | ||
| Q3 24 | $706.4M | $133.6M | ||
| Q2 24 | $706.1M | $90.5M | ||
| Q1 24 | $705.7M | $95.9M |
| Q4 25 | $1.8B | $429.3M | ||
| Q3 25 | $1.8B | $420.3M | ||
| Q2 25 | $1.7B | $414.4M | ||
| Q1 25 | $1.6B | $420.8M | ||
| Q4 24 | $1.6B | $427.8M | ||
| Q3 24 | $1.6B | $332.6M | ||
| Q2 24 | $1.5B | $331.5M | ||
| Q1 24 | $1.5B | $332.0M |
| Q4 25 | $3.2B | $928.1M | ||
| Q3 25 | $3.1B | $932.1M | ||
| Q2 25 | $3.1B | $916.0M | ||
| Q1 25 | $3.0B | $918.0M | ||
| Q4 24 | $3.0B | $936.5M | ||
| Q3 24 | $2.8B | $749.2M | ||
| Q2 24 | $2.7B | $692.9M | ||
| Q1 24 | $2.6B | $703.3M |
| Q4 25 | 0.44× | 0.58× | ||
| Q3 25 | 0.45× | 0.61× | ||
| Q2 25 | 0.52× | 0.59× | ||
| Q1 25 | 0.53× | 0.60× | ||
| Q4 24 | 0.50× | 0.60× | ||
| Q3 24 | 0.44× | 0.40× | ||
| Q2 24 | 0.47× | 0.27× | ||
| Q1 24 | 0.48× | 0.29× |
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 | $15.1M |
| Free Cash FlowOCF − Capex | $-157.1M | — |
| FCF MarginFCF / Revenue | -57.5% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -10.19× | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $15.1M | ||
| Q3 25 | $256.3M | $28.6M | ||
| Q2 25 | $15.8M | $14.4M | ||
| Q1 25 | $-19.8M | $-4.4M | ||
| Q4 24 | $-450.0M | $19.3M | ||
| Q3 24 | $119.2M | $28.5M | ||
| Q2 24 | $-61.7M | $9.0M | ||
| Q1 24 | $-59.2M | $9.0M |
| 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× | 1.27× | ||
| Q3 25 | 2.95× | 2.34× | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | -0.63× | — | ||
| Q4 24 | -27.27× | 2.29× | ||
| Q3 24 | 1.46× | 5.57× | ||
| Q2 24 | -1.59× | 2.43× | ||
| Q1 24 | -1.32× | 0.77× |
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% |
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
