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Forestar Group vs Millrose Properties: FOR and MRP compared
Forestar Group is the larger company: $581M of revenue in its latest quarter (Q4 FY26) against $211M for Millrose Properties (Q3 2026). Millrose Properties is growing faster (+18% against -13% a year earlier). Millrose Properties is more profitable, with an operating margin of 85.5% against 13.5%.
Where the money goes: FOR and MRP
Forestar Group (FOR) · Q4 FY26
Forestar Group, Q4 FY26: revenue $581M (-13% year over year), operating margin 13.5%, net earnings $59.4M. The chart follows the revenue to costs, profit and cash.
Millrose Properties (MRP) · Q3 2026
Millrose Properties, Q3 2026: revenue $211M (+18% year over year), operating margin 85.5%, net earnings $130M, operating cash flow $875M. The chart follows the revenue to costs, profit and cash.
| Forestar Group (FOR) | Millrose Properties (MRP) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $581M | $211M |
| Revenue growth, Y/Y | -13% | +18% |
| Operating margin | 13.5% | 85.5% |
| Net earnings | $59.4M | $130M |
| Net margin | 10.2% | 61.6% |
| Operating cash flow | — | $875M |
| Market value | $1.2B | — |
| P/E | 7.1× | — |
| Analysts’ mean target | $34.00 | — |
Where the revenue comes from
Forestar Group
- Development projects: $540M (93%)
- Tract sales and other: $38.7M (7%)
- Lot banking projects: $2.0M (0%)
Questions
Which is bigger, Forestar Group or Millrose Properties?
Forestar Group is the larger company: $581M of revenue in its latest quarter (Q4 FY26) against $211M for Millrose Properties (Q3 2026).
Is Forestar Group or Millrose Properties growing faster?
Millrose Properties is growing faster (+18% against -13% a year earlier).
Which is more profitable, Forestar Group or Millrose Properties?
Millrose Properties is more profitable, with an operating margin of 85.5% against 13.5%.
More: Forestar Group earnings · how Forestar Group makes money · Millrose Properties earnings · how Millrose Properties makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Oct 29, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.