$918.5 M

FOR Mkt cap, 22-Jun-2018

$114.3 M

Forestar Revenue FY, 2017
Forestar Net income (FY, 2017)52.3 M
Forestar EBIT (FY, 2017)39.8 M
Forestar Cash, 31-Dec-2017321.8 M

Forestar Financials

Forestar Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

331 m306.8 m262.4 m197.3 m114.3 m

Revenue growth, %

(7%)(14%)(25%)

General and administrative expense

21.6 m56.5 m

Operating expense total

21.6 m56.5 m

EBIT

(164.7 m)140.4 m39.8 m

EBIT margin, %

(63%)71%35%

Interest expense

34.1 m20 m8.5 m

Income tax expense

(32.6 m)(15.3 m)(45.8 m)

Net Income

35.1 m17.1 m(212.4 m)60.2 m52.3 m

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Revenue

57.4 m43.2 m41.9 m48 m47.2 m22.3 m28 m

General and administrative expense

4.9 m9.5 m6.5 m4.9 m5.2 m4.7 m28.4 m

Operating expense total

(111 m)(136.2 m)(43.9 m)(86.1 m)(41.5 m)(60.3 m)(50.6 m)

EBIT

(52.7 m)(94.8 m)596 k69.5 m6.3 m36.2 m7 m

EBIT margin, %

(92%)(219%)1%145%13%162%25%

Interest expense

8.7 m8.3 m7.6 m6.9 m3.4 m2.2 m2.2 m

Income tax expense

20.7 m(64.2 m)2.6 m(14.9 m)9.7 m(16.2 m)(11.9 m)

Net Income

23.8 m29 m(8.2 m)(34.3 m)(164.3 m)(4.3 m)10.3 m10.3 m25.2 m(2.5 m)

Forestar Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

192.3 m170.1 m96.4 m265.8 m321.8 m

Accounts Receivable

7 m

Inventories

PP&E

6.1 m11.6 m10.7 m3.1 m2 m

Total Assets

1.2 b1.3 b980.5 m733.2 m761.9 m

Accounts Payable

21.4 m20.4 m12 m4.8 m2.4 m

Short-term debt

Long-term debt

Total Liabilities

171.1 m156.3 m

Additional Paid-in Capital

556.7 m558.9 m561.9 m553 m506 m

Retained Earnings

150.4 m167 m(46 m)12.6 m56.3 m

Total Equity

715.4 m709.7 m504.1 m562.1 m605.6 m

Financial Leverage

1.6 x1.8 x1.9 x1.3 x1.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Cash

54.8 m148 m184.2 m170.6 m126.3 m98.8 m92.6 m142.6 m107.4 m122.1 m337.4 m381.4 m

Inventories

289.9 m282 m

PP&E

5.9 m6.3 m10.5 m11.5 m11.1 m10.9 m10.7 m10.2 m10 m9.7 m2.6 m1.1 m

Goodwill

Total Assets

1 b1.1 b1.2 b1.3 b1.2 b1.2 b1 b948.1 m681.8 m692.1 m763.6 m768.1 m

Accounts Payable

13.9 m15.8 m18.6 m17.7 m11.1 m9.9 m14 m8.6 m7.2 m6.5 m5.6 m5.6 m

Total Liabilities

423.3 m421.1 m484.5 m522.8 m533.6 m521.9 m532.8 m447.6 m174.8 m174.9 m176.3 m182.4 m

Additional Paid-in Capital

435 m554.4 m556.4 m558.2 m558.6 m560.3 m562.6 m559.9 m560.6 m560.2 m549.9 m548.9 m

Retained Earnings

137.4 m158.8 m173.6 m178.8 m158.8 m124.3 m(39.9 m)(50.4 m)(40.8 m)(31.1 m)37.8 m35.2 m

Total Equity

580.2 m722.1 m737.9 m745.4 m703.4 m670.4 m508.4 m500.5 m507 m517.2 m587.3 m585.8 m

Financial Leverage

1.7 x1.6 x1.7 x1.7 x1.8 x1.8 x2 x1.9 x1.3 x1.3 x1.3 x1.3 x

Forestar Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

35.1 m17.1 m(212.4 m)60.2 m52.3 m

Depreciation and Amortization

30 m41.7 m45.1 m11.4 m5.5 m

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

88.8 m107.1 m35.1 m66.9 m(16.2 m)

Cash From Investing Activities

(103.9 m)(129.7 m)(60.3 m)420.7 m134.5 m

Cash From Financing Activities

197.1 m469 k(48.5 m)(318.3 m)(62.3 m)

Interest Paid

13.8 m22.9 m27.3 m14.8 m4.9 m

Income Taxes Paid

3.3 m(11.4 m)(4.1 m)10.2 m(2.7 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

19.1 m9 m23.8 m29 m(8.2 m)(42.6 m)(206.9 m)(4.3 m)6 m16.2 m25.2 m22.7 m

Depreciation and Amortization

21.7 m7.4 m17.9 m29.1 m11.3 m23.4 m36.8 m4.8 m7.3 m9.9 m1.5 m2.9 m

Cash From Operating Activities

45.1 m5.5 m19 m36.4 m(18.8 m)(17.5 m)(15 m)5 m12.5 m29.8 m(2.4 m)(11.4 m)

Cash From Investing Activities

(62.3 m)(28.2 m)(47.7 m)(82.9 m)(24.7 m)(52.4 m)(60.5 m)51.4 m309.5 m311.2 m74.7 m126.9 m

Cash From Financing Activities

61.6 m(21.7 m)20.6 m24.8 m(396 k)(1.4 m)(2 m)(10.3 m)(311.1 m)(315.3 m)(676 k)90 k

Income Taxes Paid

(2.2 m)(2.2 m)(4.3 m)(3.9 m)5.4 m3.6 m3.6 m(2.3 m)8.8 m(11 m)15.4 m19.6 m

Forestar Ratios

USDY, 2017

Revenue/Employee

1.9 m

Financial Leverage

1.3 x
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