Filing Flows › Comparisons › FOR vs TRNO
Forestar Group vs Terreno Realty: FOR and TRNO compared
Forestar Group is the larger company: $581M of revenue in its latest quarter (Q4 FY26) against $132M for Terreno Realty (Q3 2026). Terreno Realty is growing faster (+14% against -13% a year earlier). Terreno Realty is more profitable, with an operating margin of 42.2% against 13.5%.
Where the money goes: FOR and TRNO
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.
Terreno Realty (TRNO) · Q3 2026
Terreno Realty, Q3 2026: revenue $132M (+14% year over year), operating margin 42.2%, net earnings $68.1M, operating cash flow $81.2M. The chart follows the revenue to costs, profit and cash.
| Forestar Group (FOR) | Terreno Realty (TRNO) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $581M | $132M |
| Revenue growth, Y/Y | -13% | +14% |
| Operating margin | 13.5% | 42.2% |
| Net earnings | $59.4M | $68.1M |
| Net margin | 10.2% | 51.5% |
| Operating cash flow | — | $81.2M |
| Free cash flow | — | $54.1M |
| Market value | $1.2B | $7.0B |
| P/E | 7.1× | 19.1× |
| Analysts’ mean target | $34.00 | $73.59 |
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 Terreno Realty?
Forestar Group is the larger company: $581M of revenue in its latest quarter (Q4 FY26) against $132M for Terreno Realty (Q3 2026).
Is Forestar Group or Terreno Realty growing faster?
Terreno Realty is growing faster (+14% against -13% a year earlier).
Which is more profitable, Forestar Group or Terreno Realty?
Terreno Realty is more profitable, with an operating margin of 42.2% against 13.5%.
More: Forestar Group earnings · how Forestar Group makes money · Terreno Realty earnings · how Terreno Realty 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.