Forestar Group (FOR) Cash Flow: Operating & Free Cash Flow

Forestar Group Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Forestar Group Inc. (FOR) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Dec 2017
Operating Activities
Net Income	167.90	203.40	166.90	178.80	110.50	61.70	36.30	91.75	52.33
Depreciation & Amortization	3.50	3.00	3.00	2.70	2.70	4.90	9.40	5.20	9.17
Deferred Income Tax	18.70	16.80	13.80	12.50	19.20	23.10	9.50	-24.83	-1.71
Stock Based Compensation	7.30	5.30	4.30	3.30	2.60	2.00	1.30	4.40	6.64
Change in Working Capital	-398.40	-381.50	153.70	-96.70	-456.60	-260.30	-447.80	56.42	-1.70
Change in Accounts Receivable	0.00	0.00	0.00	0.00	0.00	-6.50	1.50	1.84	2.69
Change in Inventory	0.00	0.00	0.00	0.00	0.00	-281.70	-531.70	0.00	-1.35
Change in Accounts Payable	-14.40	24.70	-12.70	40.90	28.00	24.00	41.90	18.36	-7.24
Change in Other Working Capital	-384.00	-406.20	166.40	-137.60	-484.60	3.90	40.50	36.21	2.85
Other Operating Activities	3.30	-5.40	22.40	8.10	18.50	0.20	0.10	-453.66	-71.78
Net Cash from Operating Activities	-197.70	-158.40	364.10	108.70	-303.10	-168.40	-391.20	-285.28	-16.22
Investing Activities
Capital Expenditures	-2.20	-2.20	-1.30	-3.50	-1.60	-0.60	-0.90	-0.05	-2.45
Acquisitions	4.50	0.00	1.60	1.60	0.00	4.30	0.10	0.00	6.85
Purchases of Investments	0.00	0.00	0.00	1.90	0.00	-3.70	0.80	0.00	0.00
Sales/Maturities of Investments	0.90	0.00	0.00	1.60	2.60	4.30	0.10	0.76	0.00
Other Investing Activities	0.00	9.50	0.00	-0.30	0.00	0.70	-0.10	258.26	130.09
Net Cash from Investing Activities	3.20	7.30	0.30	1.30	1.00	5.00	-0.80	258.97	134.54
Financing Activities
Debt Repayment	93.80	0.00	-12.50	0.00	36.00	181.10	350.00	-0.29	-7.00
Common Stock Issued	0.00	19.70	0.00	1.70	33.40	0.00	100.70	0.00	0.00
Common Stock Repurchased	-1.80	-3.40	-0.70	-0.50	-0.60	-0.30	-0.10	0.00	0.00
Other Financing Activities	0.50	0.00	0.00	0.00	-7.40	-5.90	-10.80	22.41	-15.50
Net Cash from Financing Activities	92.50	16.30	-13.20	1.20	61.40	174.90	439.80	22.11	-62.34
Summary
Net Change in Cash	-102.00	-134.80	351.20	111.20	-240.70	11.50	47.80	69.18	55.99
Cash at Beginning of Period	481.20	616.00	264.80	153.60	394.30	382.80	335.00	265.80	265.80
Cash at End of Period	379.20	481.20	616.00	264.80	153.60	394.30	382.80	334.98	321.78
Free Cash Flow	-199.90	-160.60	362.80	105.20	-304.70	-169.00	-392.10	-285.33	-18.67
Supplemental Disclosures
Income Taxes Paid	30.80	45.70	44.70	42.40	4.30	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Forestar Group Cash Flow

What is Forestar Group's free cash flow?

Forestar Group had negative free cash flow of $199.90M in fiscal 2025 (fiscal year ended Sep 30, 2025), operating cash flow of −$197.70M minus $2.20M of capital expenditures.

How much does Forestar Group spend on capital expenditures?

Forestar Group spent $2.20M on capital expenditures in fiscal 2025, compared with $2.20M a year earlier.

Does Forestar Group pay dividends or buy back shares?

Yes. In fiscal 2025 Forestar Group returned $1.80M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition