Forestar Group Inc. (FOR)

Real Estate

Latest Price

$25.98

TTM P/E

7.80

Normalized P/E

7.79

TTM Div Yield

Fwd Div Yield

Book Value

36.40

P/B Ratio

0.71

Valuation metrics

EPS: $3.29

Book value / share: $34.78

Formula: √(22.5 × EPS × BVPS)

Graham Number

$50.74

+95% upside

Norm. op. income: $219M (median of 7yr)

Tax rate: 24%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$24.38

6% downside

Base FCF: $234M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$334.26

+1187% upside

EPS: $3.29

Target P/E: 8×

Formula: EPS × P/E

P/E Fair Value

$26.32

+1% upside

36.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Dimensional Fund Advisors LP	2.86M	$90.0M	5.61%	+56.0K	2026-06-30
Vanguard Portfolio Management LLC	1.79M	$56.0M	3.52%	-18.6K	2026-06-30
BlackRock, Inc.	1.77M	$56.0M	3.48%	+139.7K	2026-06-30
American Century Companies Inc	946.9K	$29.0M	1.86%	+137.3K	2026-06-30
Vanguard Capital Management LLC	883.9K	$27.0M	1.73%	+3.5K	2026-06-30
Ameriprise Financial Inc	567.5K	$17.0M	1.11%	+63.2K	2026-06-30
Geode Capital Management, LLC	549.5K	$17.0M	1.08%	+32.6K	2026-06-30
Goldman Sachs Group Inc	549.1K	$17.0M	1.08%	-13.7K	2026-06-30
State Street Corp	475.4K	$15.0M	0.93%	+24.3K	2026-06-30
Heartland Advisors Inc	474.8K	$15.0M	0.93%	-30.3K	2026-06-30