Strong Revenue Growth
Forestar generated over $670 million in revenue in Q4 and $1.7 billion for the full year, surpassing their guidance. Annual revenues grew by 10%.
Increase in Book Value per Share
Book value per share increased by 11% from the previous year, reaching $34.78.
Net Income and Profit Margin Improvements
Net income increased 7% to $87 million in Q4. For the year, net income totaled $167.9 million. The pretax profit margin for the quarter was 16.9%.
Strategic Investments and Market Expansion
Forestar invested more than $7.3 billion over the last 5 years in land acquisition and development, entering 7 new markets and increasing community count by over 10%.
Strong Liquidity and Financial Position
Forestar ended the quarter with $968 million of liquidity, including $379 million in unrestricted cash, and maintained a net debt-to-capital ratio of 19.3%.