vs
Side-by-side financial comparison of Forestar Group Inc. (FOR) and Perella Weinberg Partners (PWP). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $219.2M, roughly 1.2× Perella Weinberg Partners). Perella Weinberg Partners runs the higher net margin — 6.3% vs 5.6%, a 0.7% gap on every dollar of revenue. On growth, Forestar Group Inc. posted the faster year-over-year revenue change (9.0% vs -2.9%). Perella Weinberg Partners produced more free cash flow last quarter ($30.5M vs $-157.1M). Over the past eight quarters, Perella Weinberg Partners's revenue compounded faster (46.5% 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...
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
FOR vs PWP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $219.2M |
| Net Profit | $15.4M | $13.8M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | 8.5% |
| Net Margin | 5.6% | 6.3% |
| Revenue YoY | 9.0% | -2.9% |
| Net Profit YoY | -6.7% | — |
| EPS (diluted) | $0.30 | $0.11 |
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 | $219.2M | ||
| Q3 25 | $670.5M | $164.6M | ||
| Q2 25 | $390.5M | $155.3M | ||
| Q1 25 | $351.0M | $211.8M | ||
| Q4 24 | $250.4M | $225.7M | ||
| Q3 24 | $551.3M | $278.2M | ||
| Q2 24 | $318.4M | $272.0M | ||
| Q1 24 | $333.8M | $102.1M |
| Q4 25 | $15.4M | $13.8M | ||
| Q3 25 | $86.9M | $6.0M | ||
| Q2 25 | $32.9M | $2.7M | ||
| Q1 25 | $31.6M | $17.3M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $16.4M | ||
| Q2 24 | $38.7M | $-66.0M | ||
| Q1 24 | $45.0M | $-35.8M |
| 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% | 8.5% | ||
| Q3 25 | 16.9% | 5.4% | ||
| Q2 25 | 11.2% | 5.8% | ||
| Q1 25 | 11.6% | 5.5% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 19.7% | 12.9% | ||
| Q2 24 | 16.2% | -30.2% | ||
| Q1 24 | 17.6% | -52.4% |
| Q4 25 | 5.6% | 6.3% | ||
| Q3 25 | 13.0% | 3.6% | ||
| Q2 25 | 8.4% | 1.8% | ||
| Q1 25 | 9.0% | 8.2% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | 5.9% | ||
| Q2 24 | 12.2% | -24.3% | ||
| Q1 24 | 13.5% | -35.1% |
| Q4 25 | $0.30 | $0.11 | ||
| Q3 25 | $1.70 | $0.08 | ||
| Q2 25 | $0.65 | $0.04 | ||
| Q1 25 | $0.62 | $0.24 | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | $0.24 | ||
| Q2 24 | $0.76 | $-1.21 | ||
| Q1 24 | $0.89 | $-0.91 |
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 | $255.9M |
| Total DebtLower is stronger | $793.2M | — |
| Stockholders' EquityBook value | $1.8B | $-127.4M |
| Total Assets | $3.2B | $797.6M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $211.7M | $255.9M | ||
| Q3 25 | $379.2M | $185.5M | ||
| Q2 25 | $189.2M | $145.0M | ||
| Q1 25 | $174.3M | $111.2M | ||
| Q4 24 | $132.0M | $407.4M | ||
| Q3 24 | $481.2M | $335.1M | ||
| Q2 24 | $359.2M | $185.3M | ||
| Q1 24 | $416.2M | $156.7M |
| 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 | $-127.4M | ||
| Q3 25 | $1.8B | $-302.4M | ||
| Q2 25 | $1.7B | $-318.4M | ||
| Q1 25 | $1.6B | $-323.1M | ||
| Q4 24 | $1.6B | $-421.4M | ||
| Q3 24 | $1.6B | $-360.8M | ||
| Q2 24 | $1.5B | $-283.0M | ||
| Q1 24 | $1.5B | $161.9M |
| Q4 25 | $3.2B | $797.6M | ||
| Q3 25 | $3.1B | $650.2M | ||
| Q2 25 | $3.1B | $606.7M | ||
| Q1 25 | $3.0B | $570.5M | ||
| Q4 24 | $3.0B | $876.8M | ||
| Q3 24 | $2.8B | $810.9M | ||
| Q2 24 | $2.7B | $645.5M | ||
| Q1 24 | $2.6B | $583.6M |
| 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 | $34.8M |
| Free Cash FlowOCF − Capex | $-157.1M | $30.5M |
| FCF MarginFCF / Revenue | -57.5% | 13.9% |
| Capex IntensityCapex / Revenue | 0.0% | 2.0% |
| Cash ConversionOCF / Net Profit | -10.19× | 2.52× |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | $-34.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-157.0M | $34.8M | ||
| Q3 25 | $256.3M | $59.2M | ||
| Q2 25 | $15.8M | $56.1M | ||
| Q1 25 | $-19.8M | $-176.5M | ||
| Q4 24 | $-450.0M | $223.4M | ||
| Q3 24 | $119.2M | $200.3M | ||
| Q2 24 | $-61.7M | $90.0M | ||
| Q1 24 | $-59.2M | $-206.3M |
| Q4 25 | $-157.1M | $30.5M | ||
| Q3 25 | $255.6M | $57.6M | ||
| Q2 25 | $15.0M | $55.3M | ||
| Q1 25 | $-20.5M | $-177.6M | ||
| Q4 24 | — | $207.0M | ||
| Q3 24 | $118.4M | $199.3M | ||
| Q2 24 | $-62.3M | $83.7M | ||
| Q1 24 | $-59.8M | $-214.8M |
| Q4 25 | -57.5% | 13.9% | ||
| Q3 25 | 38.1% | 35.0% | ||
| Q2 25 | 3.8% | 35.6% | ||
| Q1 25 | -5.8% | -83.8% | ||
| Q4 24 | — | 91.7% | ||
| Q3 24 | 21.5% | 71.6% | ||
| Q2 24 | -19.6% | 30.8% | ||
| Q1 24 | -17.9% | -210.3% |
| Q4 25 | 0.0% | 2.0% | ||
| Q3 25 | 0.1% | 0.9% | ||
| Q2 25 | 0.2% | 0.5% | ||
| Q1 25 | 0.2% | 0.5% | ||
| Q4 24 | 0.0% | 7.3% | ||
| Q3 24 | 0.1% | 0.4% | ||
| Q2 24 | 0.2% | 2.3% | ||
| Q1 24 | 0.2% | 8.3% |
| Q4 25 | -10.19× | 2.52× | ||
| Q3 25 | 2.95× | 9.85× | ||
| Q2 25 | 0.48× | 20.50× | ||
| Q1 25 | -0.63× | -10.18× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 12.23× | ||
| Q2 24 | -1.59× | — | ||
| Q1 24 | -1.32× | — |
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% |
PWP
Segment breakdown not available.
