FOR vs FPI vs JOE Stock Comparison

Forestar, Farmland Partners and St Joe Prices as of Nov 4, 2026 Peers: Industry group
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FOR Forestar Group Inc.
$24.91 -1.7% 1M -1.2% 1Y
Market cap
$1.27B
P/E
7.5x
Revenue (TTM)
$1.72B
Div. yield
–
Real Estate Development Real Estate
5 wins
FPI Farmland Partners Inc.
$8.98 -19.6% 1M -9.2% 1Y
Market cap
$376.96M
P/E
43.4x
Revenue (TTM)
$49.99M
Div. yield
5.90%
Farmland REITs Real Estate
1 win
JOE ST JOE Co
$70.47 +6.4% 1M +19.6% 1Y
Market cap
$3.99B
P/E
33.0x
Revenue (TTM)
$542.95M
Div. yield
0.91%
Real Estate Development Real Estate
6 wins

Head to Head

12 decided of 12

St Joe leads on 6 of the 12 questions below (St Joe 6, Forestar 5, Farmland Partners 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFORFPIJOELeader
Larger companyMarket capitalisation $1.27B $376.96M $3.99B JOE
Cheaper on earningsLower P/E, profitable companies only 7.5x 43.4x 33.0x FOR
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.3x 40.8x 91.5x FOR
Faster revenue growthRevenue growth, trailing twelve months +11.8% -5.6% +11.1% FOR
More profitableNet margin, trailing twelve months 9.9% 17.7% 22.3% JOE
Better return on capitalReturn on invested capital 6.1% 0.4% — FOR
Less leveragedLower net debt / EBITDA 1.8x 35.8x — FOR
Higher dividend yieldTrailing dividend yield — 5.90% 0.91% FPI
Better 1-year returnPrice return, last 12 months -1.2% -9.2% +19.6% JOE
Better 5-year returnAnnualised price return, 5 years +3.1%/yr -6.2%/yr +7.3%/yr JOE
Less volatileAnnualised volatility, 1 year 33.8% 28.5% 28.3% JOE
Higher overall scoreMean of the five percentile scores vs peers 58/100 47/100 68/100 JOE

Percentile Scorecard

FORFPIJOE

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFORFPIJOE
Valuation 89 #5 of 38 37 #137 of 216 60 #16 of 38
Growth 53 #16 of 33 26 #154 of 207 78 #8 of 33
Profitability 67 #11 of 31 45 #112 of 201 93 #3 of 31
Financial Health 58 #16 of 37 56 #94 of 214 56 #17 of 37
Shareholder Returns 23 #11 of 14 69 #53 of 171 54 #7 of 14
Overall 58 47 68
  • FOR ranked among 40 companies in Property Developers
  • FPI ranked among 222 companies in Real Estate
  • JOE ranked among 40 companies in Property Developers

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFORFPIJOESPY
1 month -1.7%-19.6%+6.4% -1.0%
3 months -15.6%-9.2%+8.8% -0.4%
6 months -8.1%-15.9%+7.3% +4.5%
Year to date +1.1%-7.3%+18.7% +12.4%
1 year -1.2%-9.2%+19.6% +13.6%
3 years -5.9%-19.7%+42.1% +76.4%
3 years, per year -2.0%-7.1%+12.4% +20.8%
5 years +16.4%-27.5%+42.0% +63.7%
5 years, per year +3.1%-6.2%+7.3% +10.4%
10 years +125.4%-12.8%+312.1% +267.7%
10 years, per year +8.5%-1.4%+15.2% +13.9%

Risk

MeasureFORFPIJOESPY
Volatility, 1Y 33.8%28.5%28.3% 12.8%
Downside volatility, 1Y 32.7%34.6%26.5% 12.7%
Beta vs S&P 500, 1Y 0.860.380.61 1.00
Return / volatility, 1Y -0.03-0.320.69 1.06
Max drawdown, 5Y -54.7%-48.2%-48.7% -25.4%
From 52-week high -22.1%-31.1%-3.2% -1.6%
52-week high $31.98$13.04$72.79 $779.14
52-week low $23.09$8.44$55.71 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFORFPIJOE
P/E now vs peer median 7.5xmedian 7.4x 43.4xmedian 25.3x 33.0xmedian 7.4x
P/S now vs peer median 0.7xmedian 4.9x 7.5xmedian 3.9x 7.3xmedian 4.9x
EV/EBITDA now vs peer median 7.7xmedian 10.3x 94.2xmedian 14.7x 17.6xmedian 10.3x
P/FCF now vs peer median 4.5xmedian 6.1x 21.6xmedian 20.7x 25.3xmedian 6.1x
P/B now vs peer median 0.7xmedian 0.6x 0.9xmedian 1.2x 5.2xmedian 0.6x
PEG now vs peer median 1.60median 0.36 -2.66median 1.60 3.17median 0.36

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFORFPIJOE
Revenue $1.72B $49.99M $542.95M
Gross profit $368.90M $46.48M $250.51M
Operating income $213.60M $2.71M $173.94M
Net income $170.50M $10.06M $120.57M
Free cash flow $282.90M $17.47M $157.37M
EPS (diluted) $3.32 $0.21 $2.14
Cash & equivalents $394.90M $7.88M $117.86M
Total debt $793.80M $239.00M –
Shares (diluted) 51.30M 42.85M 56.76M
Enterprise value -$76.17M $333.61M $3.49B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFORFPIJOE
P/E 7.5x 43.4x 33.0x
P/FCF 4.5x 21.6x 25.3x
P/Operating cash flow 4.5x 20.8x 21.2x
P/S 0.7x 7.5x 7.3x
P/B 0.7x 0.9x 5.2x
P/Tangible book 0.7x 0.9x 5.2x
EV/EBITDA 7.7x 94.2x 17.6x
EV/EBIT 7.8x 224.7x 22.2x
EV/Revenue 1.0x 12.2x 7.1x
EV/FCF 5.9x 34.8x 24.6x
EV/Operating cash flow 5.9x 33.6x 20.6x
PEG (3Y EPS CAGR) 1.60 -2.66 3.17

Growth

14 metrics
MetricFORFPIJOE
Revenue growth (1Y) 11.8% -5.6% 11.1%
Revenue CAGR (3Y) 10.8% -4.7% 14.2%
Gross profit growth (1Y) 6.7% -3.0% 21.2%
Gross profit CAGR (3Y) 9.9% -4.6% –
Operating income growth (1Y) 5.7% 321.8% 31.3%
Operating income CAGR (3Y) 5.4% -48.7% 27.6%
Net income growth (1Y) 4.9% -85.8% 15.1%
Net income CAGR (3Y) 5.5% -21.3% 10.4%
EPS growth (1Y) 4.1% -86.4% 18.2%
EPS CAGR (3Y) 4.7% -16.3% 10.4%
Operating cash flow growth (1Y) 184.8% 7.4% 6.9%
Operating cash flow CAGR (3Y) 3.6% 8.9% 19.5%
Free cash flow growth (1Y) 183.9% 139.9% 6.1%
Free cash flow CAGR (3Y) 3.7% 37.5% 52.7%

Profitability

14 metrics
MetricFORFPIJOE
Gross margin 21.4% 93.0% 46.1%
EBITDA margin 12.6% 12.9% 40.6%
Operating margin 12.4% 5.4% 32.0%
Pretax margin 13.1% 20.1% 29.8%
Net margin 9.9% 17.7% 22.3%
FCF margin 16.4% 34.9% 29.0%
Operating cash flow margin 16.5% 36.2% 34.7%
Return on equity 9.3% 2.3% 15.6%
Return on assets 5.3% 1.5% 8.0%
Return on invested capital 6.1% 0.4% –
Return on capital employed – – –
Asset turnover 0.5x 0.1x 0.4x
Cash conversion (OCF / net income) 1.7x 1.8x 1.6x
Stock comp / revenue 0.5% 3.9% 0.2%

Financial Health

11 metrics
MetricFORFPIJOE
Debt / assets 24.6% 35.1% –
Debt / equity 0.4x 0.6x –
Net debt / EBITDA 1.8x 35.8x –
Debt / FCF 2.8x 13.7x –
Liabilities / assets 42.3% 37.2% 48.4%
Equity / assets 57.7% 62.8% 51.6%
Interest coverage – 0.2x 6.2x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricFORFPIJOE
Dividend yield – 5.9% 0.9%
Net buyback yield 0.0% 22.6% 2.0%
Shareholder yield 0.0% 28.5% 2.9%
Payout ratio (earnings) – 215.1% 30.4%
Payout ratio (FCF) – 123.9% 23.3%
Dividend growth (1Y) – -66.2% 12.6%
Dividend CAGR (3Y) – 19.7% 14.5%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFORFPIJOE
Forward P/E 9.3xFY2027 40.8xFY2026 91.5xFY2026
EPS, next fiscal year $2.68FY2027 $0.22FY2026 $0.77FY2026
EPS growth, next FY -4.2%FY2027 -63.9%FY2026 -42.1%FY2026
EPS growth, the year after +7.5% -13.6% –
Revenue, next fiscal year $1.79BFY2027 $32.83MFY2026 $273.72MFY2026
Revenue growth, next FY +9.6%FY2027 -8.6%FY2026 -29.7%FY2026
Revenue growth, the year after -11.7% +0.7% –

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFORFPIJOE
Held by institutions 36.6% 53.2% 87.6%
Institutions holding 185 181 320
Change in shares held, QoQ +0.1% -0.8% -0.2%
Institutions buying 97 100 160
Institutions selling 49 51 97
Buyers to sellers 1.98 1.96 1.65

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FORFPIJOE
FOR 1.00 0.29 0.40
FPI 0.29 1.00 0.18
JOE 0.40 0.18 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FOR, FPI and JOE?

St Joe (JOE) is the largest by market capitalisation: Forestar (FOR) $1.27B, Farmland Partners (FPI) $376.96M, St Joe (JOE) $3.99B.

Which stock is cheaper, FOR, FPI and JOE?

Forestar (FOR) trades on the lowest price-to-earnings ratio (Forestar (FOR) 7.5x, Farmland Partners (FPI) 43.4x, St Joe (JOE) 33.0x). On next year's consensus earnings, Forestar (FOR) is cheapest (Forestar (FOR) 9.3x, Farmland Partners (FPI) 40.8x, St Joe (JOE) 91.5x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Forestar (FOR) grew revenue fastest over the trailing twelve months: Forestar (FOR) +11.8%, Farmland Partners (FPI) -5.6%, St Joe (JOE) +11.1%.

Which company is more profitable?

St Joe (JOE) has the highest net margin (Forestar (FOR) 9.9%, Farmland Partners (FPI) 17.7%, St Joe (JOE) 22.3%). On return on invested capital, Forestar (FOR) leads (Forestar (FOR) 6.1%, Farmland Partners (FPI) 0.4%).

Which stock has performed better?

Over the past year St Joe (JOE) returned the most: Forestar (FOR) -1.2%, Farmland Partners (FPI) -9.2%, St Joe (JOE) +19.6%. Over five years, St Joe (JOE) compounded fastest (Forestar (FOR) +3.1%/yr, Farmland Partners (FPI) -6.2%/yr, St Joe (JOE) +7.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Farmland Partners (FPI) has the highest dividend yield: Farmland Partners (FPI) 5.90%, St Joe (JOE) 0.91%. Forestar (FOR) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, St Joe (JOE) has been the steadiest (Forestar (FOR) 33.8%, Farmland Partners (FPI) 28.5%, St Joe (JOE) 28.3%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FOR, FPI and JOE?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, St Joe (JOE) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.