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Side-by-side financial comparison of Forestar Group Inc. (FOR) and TANGER INC. (SKT). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $150.4M, roughly 1.8× TANGER INC.). TANGER INC. runs the higher net margin — 19.6% vs 5.6%, a 13.9% gap on every dollar of revenue. On growth, TANGER INC. posted the faster year-over-year revenue change (11.1% vs 9.0%). Over the past eight quarters, TANGER INC.'s revenue compounded faster (8.0% 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...
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in open air outlet and lifestyle shopping centers in the United States and Canada.
FOR vs SKT — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $273.0M | $150.4M |
| Net Profit | $15.4M | $29.4M |
| Gross Margin | 20.1% | — |
| Operating Margin | 7.6% | — |
| Net Margin | 5.6% | 19.6% |
| Revenue YoY | 9.0% | 11.1% |
| Net Profit YoY | -6.7% | 47.1% |
| EPS (diluted) | $0.30 | $1.05 |
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.
| Q1 26 | — | $150.4M | ||
| Q4 25 | $273.0M | $151.0M | ||
| Q3 25 | $670.5M | $145.2M | ||
| Q2 25 | $390.5M | $140.7M | ||
| Q1 25 | $351.0M | $135.4M | ||
| Q4 24 | $250.4M | $132.2M | ||
| Q3 24 | $551.3M | $133.0M | ||
| Q2 24 | $318.4M | $129.0M |
| Q1 26 | — | $29.4M | ||
| Q4 25 | $15.4M | — | ||
| Q3 25 | $86.9M | $32.0M | ||
| Q2 25 | $32.9M | $30.1M | ||
| Q1 25 | $31.6M | $19.2M | ||
| Q4 24 | $16.5M | — | ||
| Q3 24 | $81.5M | $24.9M | ||
| Q2 24 | $38.7M | $24.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | 16.9% | 20.1% | ||
| Q2 25 | 11.2% | 20.1% | ||
| Q1 25 | 11.6% | 13.0% | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 19.7% | 17.8% | ||
| Q2 24 | 16.2% | 17.8% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | 5.6% | — | ||
| Q3 25 | 13.0% | 22.1% | ||
| Q2 25 | 8.4% | 21.4% | ||
| Q1 25 | 9.0% | 14.2% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 14.8% | 18.7% | ||
| Q2 24 | 12.2% | 19.3% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.30 | — | ||
| Q3 25 | $1.70 | $0.28 | ||
| Q2 25 | $0.65 | $0.26 | ||
| Q1 25 | $0.62 | $0.17 | ||
| Q4 24 | $0.32 | — | ||
| Q3 24 | $1.59 | $0.22 | ||
| Q2 24 | $0.76 | $0.22 |
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 | $227.4M |
| Total DebtLower is stronger | $793.2M | — |
| Stockholders' EquityBook value | $1.8B | $697.8M |
| Total Assets | $3.2B | $2.8B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $227.4M | ||
| Q4 25 | $211.7M | $18.1M | ||
| Q3 25 | $379.2M | $13.0M | ||
| Q2 25 | $189.2M | $9.7M | ||
| Q1 25 | $174.3M | $10.2M | ||
| Q4 24 | $132.0M | $47.0M | ||
| Q3 24 | $481.2M | $11.1M | ||
| Q2 24 | $359.2M | $11.3M |
| Q1 26 | — | — | ||
| Q4 25 | $793.2M | — | ||
| Q3 25 | $802.7M | $1.6B | ||
| Q2 25 | $872.8M | $1.5B | ||
| Q1 25 | $872.5M | $1.6B | ||
| Q4 24 | $806.8M | $1.4B | ||
| Q3 24 | $706.4M | $1.4B | ||
| Q2 24 | $706.1M | $1.5B |
| Q1 26 | — | $697.8M | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | $703.6M | ||
| Q2 25 | $1.7B | $635.2M | ||
| Q1 25 | $1.6B | $633.9M | ||
| Q4 24 | $1.6B | $652.4M | ||
| Q3 24 | $1.6B | $568.3M | ||
| Q2 24 | $1.5B | $553.7M |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.1B | $2.6B | ||
| Q2 25 | $3.1B | $2.5B | ||
| Q1 25 | $3.0B | $2.5B | ||
| Q4 24 | $3.0B | $2.4B | ||
| Q3 24 | $2.8B | $2.3B | ||
| Q2 24 | $2.7B | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.45× | 2.29× | ||
| Q2 25 | 0.52× | 2.40× | ||
| Q1 25 | 0.53× | 2.47× | ||
| Q4 24 | 0.50× | 2.18× | ||
| Q3 24 | 0.44× | 2.51× | ||
| Q2 24 | 0.47× | 2.64× |
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 | — |
| Free Cash FlowOCF − Capex | $-157.1M | — |
| FCF MarginFCF / Revenue | -57.5% | — |
| Capex IntensityCapex / Revenue | 0.0% | 6.6% |
| Cash ConversionOCF / Net Profit | -10.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | $93.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-157.0M | — | ||
| Q3 25 | $256.3M | $74.3M | ||
| Q2 25 | $15.8M | $82.0M | ||
| Q1 25 | $-19.8M | $41.4M | ||
| Q4 24 | $-450.0M | — | ||
| Q3 24 | $119.2M | $65.2M | ||
| Q2 24 | $-61.7M | $72.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | 6.6% | ||
| 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 26 | — | — | ||
| Q4 25 | -10.19× | — | ||
| Q3 25 | 2.95× | 2.32× | ||
| Q2 25 | 0.48× | 2.73× | ||
| Q1 25 | -0.63× | 2.16× | ||
| Q4 24 | -27.27× | — | ||
| Q3 24 | 1.46× | 2.62× | ||
| Q2 24 | -1.59× | 2.93× |
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% |
SKT
| Rental revenue | $143.5M | 95% |
| Other revenue | $4.7M | 3% |
| Management, leasing and other services | $2.2M | 1% |
