FOR vs JOE vs TRC Stock Comparison

Forestar, St Joe and Tejon Ranch Prices as of Oct 23, 2026 Peers: Industry group
FOR Forestar Group Inc.
$26.01 -2.7% 1M 0.0% 1Y
Market cap
$1.33B
P/E
7.8x
Revenue (TTM)
$1.72B
Div. yield
–
Real Estate Development Real Estate
4 wins
JOE ST JOE Co
$67.62 +2.7% 1M +34.5% 1Y
Market cap
$3.89B
P/E
31.6x
Revenue (TTM)
$547.84M
Div. yield
0.01%
Real Estate Development Real Estate
6 wins
TRC Tejon Ranch Co
$16.47 +1.1% 1M +2.2% 1Y
Market cap
$439.36M
P/E
72.8x
Revenue (TTM)
$56.84M
Div. yield
–
Real Estate Development Real Estate
1 win

Head to Head

11 decided of 12

St Joe leads on 6 of the 12 questions below (St Joe 6, Forestar 4, Tejon Ranch 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFORJOETRCLeader
Larger companyMarket capitalisation $1.33B $3.89B $439.36M JOE
Cheaper on earningsLower P/E, profitable companies only 7.8x 31.6x 72.8x FOR
Cheaper on forward earningsLower price / next fiscal year consensus EPS 8.5x 87.8x 96.9x FOR
Faster revenue growthRevenue growth, trailing twelve months +11.8% +28.4% +25.4% JOE
More profitableNet margin, trailing twelve months 9.9% 22.5% 10.6% JOE
Better return on capitalReturn on invested capital 6.1% — 0.0% FOR
Less leveragedLower net debt / EBITDA 1.8x — 12.9x FOR
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.00% –
Better 1-year returnPrice return, last 12 months 0.0% +34.5% +2.2% JOE
Better 5-year returnAnnualised price return, 5 years +5.4%/yr +7.7%/yr -2.3%/yr JOE
Less volatileAnnualised volatility, 1 year 33.6% 30.0% 21.3% TRC
Higher overall scoreMean of the five percentile scores vs peers 55/100 70/100 58/100 JOE

Percentile Scorecard

FORJOETRC

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

AxisFORJOETRC
Valuation 92 #4 of 39 55 #18 of 39 34 #26 of 39
Growth 53 #16 of 33 88 #5 of 33 69 #11 of 33
Profitability 62 #12 of 30 93 #3 of 30 52 #15 of 30
Financial Health 46 #21 of 38 60 #16 of 38 78 #9 of 38
Shareholder Returns 23 #11 of 14 54 #7 of 14 –
Overall 55 70 58
  • FOR ranked among 42 companies in Property Developers
  • JOE ranked among 42 companies in Property Developers
  • TRC ranked among 42 companies in Property Developers

Price Performance

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

Returns

PeriodFORJOETRCSPY
1 month -2.7%+2.7%+1.1% -1.0%
3 months -8.3%+8.9%-6.6% +2.9%
6 months -7.5%-4.8%-16.5% +6.4%
Year to date +5.6%+13.9%+4.4% +11.4%
1 year 0.0%+34.5%+2.2% +13.1%
3 years +11.4%+36.6%+6.5% +79.4%
3 years, per year +3.7%+11.0%+2.1% +21.5%
5 years +30.0%+45.0%-11.1% +67.7%
5 years, per year +5.4%+7.7%-2.3% +10.9%
10 years +130.6%+271.5%-28.0% +255.2%
10 years, per year +8.7%+14.0%-3.2% +13.5%

Risk

MeasureFORJOETRCSPY
Volatility, 1Y 33.6%30.0%21.3% 12.7%
Downside volatility, 1Y 31.9%26.5%20.8% 12.7%
Beta vs S&P 500, 1Y 0.810.480.23 1.00
Return / volatility, 1Y 0.001.150.10 1.03
Max drawdown, 5Y -54.7%-48.7%-32.4% -25.4%
From 52-week high -18.7%-7.1%-19.6% -2.5%
52-week high $31.98$72.79$20.48 $779.14
52-week low $23.09$49.03$15.58 $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.

MultipleFORJOETRC
P/E now vs peer median 7.8xmedian 7.8x 31.4xmedian 7.8x 73.7xmedian 7.8x
P/S now vs peer median 0.8xmedian 4.9x 7.0xmedian 4.9x 7.8xmedian 4.9x
EV/EBITDA now vs peer median 8.0xmedian 11.2x 17.6xmedian 11.2x 84.1xmedian 11.2x
P/FCF now vs peer median 4.7xmedian 6.4x 20.2xmedian 6.4x -17.1xmedian 6.4x
P/B now vs peer median 0.7xmedian 0.6x 5.0xmedian 0.6x 0.9xmedian 0.6x
PEG now vs peer median 1.67median 0.33 2.31median 0.33 -2.94median 0.33

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 monthsFORJOETRC
Revenue $1.72B $547.84M $56.84M
Gross profit $368.90M $241.34M –
Operating income $213.60M $165.33M -$515.00K
Net income $170.50M $123.71M $6.04M
Free cash flow $282.90M $191.24M -$26.03M
EPS (diluted) $3.32 $2.15 $0.22
Cash & equivalents $394.90M $117.32M $3.87M
Total debt $793.80M – $377.27M
Shares (diluted) 51.30M 57.17M 27.07M
Enterprise value -$19.12M $3.38B $358.98M

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
MetricFORJOETRC
P/E 7.8x 31.4x 73.7x
P/FCF 4.7x 20.2x -17.1x
P/Operating cash flow 4.7x 17.8x 35.7x
P/S 0.8x 7.0x 7.8x
P/B 0.7x 5.0x 0.9x
P/Tangible book 0.7x 5.0x 0.9x
EV/EBITDA 8.0x 17.6x 84.1x
EV/EBIT 8.1x 22.6x -1,021x
EV/Revenue 1.0x 6.8x 9.2x
EV/FCF 6.1x 19.5x -20.2x
EV/Operating cash flow 6.1x 17.2x 42.2x
PEG (3Y EPS CAGR) 1.67 2.31 -2.94

Growth

14 metrics
MetricFORJOETRC
Revenue growth (1Y) 11.8% 28.4% 25.4%
Revenue CAGR (3Y) 10.8% 19.6% –
Gross profit growth (1Y) 6.7% 38.5% –
Gross profit CAGR (3Y) 9.9% – –
Operating income growth (1Y) 5.7% 63.9% 94.8%
Operating income CAGR (3Y) 5.4% 29.8% -27.1%
Net income growth (1Y) 4.9% 52.3% 1,237%
Net income CAGR (3Y) 5.5% 14.2% -24.8%
EPS growth (1Y) 4.1% 51.0% 1,233%
EPS CAGR (3Y) 4.7% 13.6% -25.1%
Operating cash flow growth (1Y) 184.8% 84.3% -8.4%
Operating cash flow CAGR (3Y) 3.6% 44.3% 21.0%
Free cash flow growth (1Y) 183.9% 134.2% 55.6%
Free cash flow CAGR (3Y) 3.7% 47.3% -24.6%

Profitability

14 metrics
MetricFORJOETRC
Gross margin 21.4% 44.1% –
EBITDA margin 12.6% 38.7% 11.0%
Operating margin 12.4% 30.2% -0.9%
Pretax margin 13.1% 30.3% 5.1%
Net margin 9.9% 22.5% 10.6%
FCF margin 16.4% 34.9% -45.8%
Operating cash flow margin 16.5% 39.6% 21.9%
Return on equity 9.3% 16.0% 1.2%
Return on assets 5.3% 8.2% 0.9%
Return on invested capital 6.1% – 0.0%
Return on capital employed – – -0.1%
Asset turnover 0.5x 0.4x 0.1x
Cash conversion (OCF / net income) 1.7x 1.8x 2.1x
Stock comp / revenue 0.5% 0.2% 2.0%

Financial Health

11 metrics
MetricFORJOETRC
Debt / assets 24.6% – 15.0%
Debt / equity 0.4x – 0.2x
Net debt / EBITDA 1.8x – 12.9x
Debt / FCF 2.8x – -3.7x
Liabilities / assets 42.3% 48.8% 22.9%
Equity / assets 57.7% 51.2% 77.1%
Interest coverage – 5.7x –
Current ratio – – 2.9x
Quick ratio – – 1.6x
Cash ratio – – 1.4x
Altman Z-score – – 2.20

Shareholder Returns

7 metrics
MetricFORJOETRC
Dividend yield – 0.9% –
Net buyback yield 0.0% 1.6% –
Shareholder yield 0.0% 2.6% 0.0%
Payout ratio (earnings) – 28.8% –
Payout ratio (FCF) – 18.7% –
Dividend growth (1Y) – 9.2% –
Dividend CAGR (3Y) – 15.2% –

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.

ConsensusFORJOETRC
Forward P/E 8.5xFY2026 87.8xFY2026 96.9xFY2026
EPS, next fiscal year $3.06FY2026 $0.77FY2026 $0.17FY2026
EPS growth, next FY -7.0%FY2026 -42.1%FY2026 +1,600.0%FY2026
EPS growth, the year after -12.4% – +147.1%
Revenue, next fiscal year $1.77BFY2026 $273.72MFY2026 $57.93MFY2026
Revenue growth, next FY +6.9%FY2026 -29.7%FY2026 +16.8%FY2026
Revenue growth, the year after +1.0% – +23.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFORJOETRC
Held by institutions 36.6% 87.6% 78.6%
Institutions holding 185 320 127
Change in shares held, QoQ +0.1% -0.2% +1.3%
Institutions buying 97 160 61
Institutions selling 49 97 30
Buyers to sellers 1.98 1.65 2.03

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.

FORJOETRC
FOR 1.00 0.32 0.33
JOE 0.32 1.00 0.30
TRC 0.33 0.30 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FOR, JOE and TRC?

St Joe (JOE) is the largest by market capitalisation: Forestar (FOR) $1.33B, St Joe (JOE) $3.89B, Tejon Ranch (TRC) $439.36M.

Which stock is cheaper, FOR, JOE and TRC?

Forestar (FOR) trades on the lowest price-to-earnings ratio (Forestar (FOR) 7.8x, St Joe (JOE) 31.6x, Tejon Ranch (TRC) 72.8x). On next year's consensus earnings, Forestar (FOR) is cheapest (Forestar (FOR) 8.5x, St Joe (JOE) 87.8x, Tejon Ranch (TRC) 96.9x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

St Joe (JOE) grew revenue fastest over the trailing twelve months: Forestar (FOR) +11.8%, St Joe (JOE) +28.4%, Tejon Ranch (TRC) +25.4%.

Which company is more profitable?

St Joe (JOE) has the highest net margin (Forestar (FOR) 9.9%, St Joe (JOE) 22.5%, Tejon Ranch (TRC) 10.6%). On return on invested capital, Forestar (FOR) leads (Forestar (FOR) 6.1%, Tejon Ranch (TRC) 0.0%).

Which stock has performed better?

Over the past year St Joe (JOE) returned the most: Forestar (FOR) 0.0%, St Joe (JOE) +34.5%, Tejon Ranch (TRC) +2.2%. Over five years, St Joe (JOE) compounded fastest (Forestar (FOR) +5.4%/yr, St Joe (JOE) +7.7%/yr, Tejon Ranch (TRC) -2.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Forestar (FOR) 0.00%, St Joe (JOE) 0.01%, Tejon Ranch (TRC) 0.00%. Forestar (FOR) and Tejon Ranch (TRC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Tejon Ranch (TRC) has been the steadiest (Forestar (FOR) 33.6%, St Joe (JOE) 30.0%, Tejon Ranch (TRC) 21.3%). Volatility measures how widely the price swings, not the risk of the business.

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

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.