JOE vs FOR vs TRC Stock Comparison

St Joe, Forestar and Tejon Ranch Prices as of Oct 28, 2026 Peers: Industry group
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JOE ST JOE Co
$68.31 +3.5% 1M +34.7% 1Y
Market cap
$4.10B
P/E
33.8x
Revenue (TTM)
$542.95M
Div. yield
0.01%
Real Estate Development Real Estate
5 wins
FOR Forestar Group Inc.
$25.93 -1.6% 1M -7.3% 1Y
Market cap
$1.27B
P/E
7.4x
Revenue (TTM)
$1.72B
Div. yield
–
Real Estate Development Real Estate
4 wins
TRC Tejon Ranch Co
$16.58 +1.0% 1M +3.7% 1Y
Market cap
$451.24M
P/E
74.7x
Revenue (TTM)
$56.84M
Div. yield
–
Real Estate Development Real Estate
2 wins

Head to Head

11 decided of 12

St Joe leads on 5 of the 12 questions below (St Joe 5, Forestar 4, Tejon Ranch 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionJOEFORTRCLeader
Larger companyMarket capitalisation $4.10B $1.27B $451.24M JOE
Cheaper on earningsLower P/E, profitable companies only 33.8x 7.4x 74.7x FOR
Cheaper on forward earningsLower price / next fiscal year consensus EPS 88.7x 8.5x 97.5x FOR
Faster revenue growthRevenue growth, trailing twelve months +11.1% +11.8% +25.4% TRC
More profitableNet margin, trailing twelve months 22.3% 9.9% 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 0.01% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +34.7% -7.3% +3.7% JOE
Better 5-year returnAnnualised price return, 5 years +7.8%/yr +5.8%/yr -1.9%/yr JOE
Less volatileAnnualised volatility, 1 year 29.9% 32.9% 21.4% TRC
Higher overall scoreMean of the five percentile scores vs peers 68/100 60/100 59/100 JOE

Percentile Scorecard

JOEFORTRC

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

AxisJOEFORTRC
Valuation 55 #18 of 39 92 #4 of 39 32 #27 of 39
Growth 77 #8 of 32 55 #15 of 32 71 #10 of 32
Profitability 93 #3 of 29 71 #9 of 29 54 #14 of 29
Financial Health 62 #15 of 38 57 #17 of 38 78 #9 of 38
Shareholder Returns 54 #7 of 14 23 #11 of 14 –
Overall 68 60 59
  • JOE ranked among 42 companies in Property Developers
  • FOR 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

PeriodJOEFORTRCSPY
1 month +3.5%-1.6%+1.0% +0.9%
3 months +10.2%-10.4%-2.8% +5.9%
6 months -1.0%-5.9%-15.7% +8.5%
Year to date +15.1%+5.3%+5.1% +13.3%
1 year +34.7%-7.3%+3.7% +12.4%
3 years +48.0%+10.9%+8.0% +88.1%
3 years, per year +14.0%+3.5%+2.6% +23.5%
5 years +45.3%+32.5%-9.0% +68.2%
5 years, per year +7.8%+5.8%-1.9% +11.0%
10 years +285.9%+136.8%-24.0% +263.4%
10 years, per year +14.5%+9.0%-2.7% +13.8%

Risk

MeasureJOEFORTRCSPY
Volatility, 1Y 29.9%32.9%21.4% 12.7%
Downside volatility, 1Y 26.5%31.8%20.9% 12.7%
Beta vs S&P 500, 1Y 0.480.810.23 1.00
Return / volatility, 1Y 1.16-0.220.17 0.98
Max drawdown, 5Y -48.7%-54.7%-32.4% -25.4%
From 52-week high -6.2%-18.9%-19.0% -0.9%
52-week high $72.79$31.98$20.48 $779.14
52-week low $49.03$23.09$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.

MultipleJOEFORTRC
P/E now vs peer median 32.0xmedian 7.8x 7.8xmedian 7.8x 74.2xmedian 7.8x
P/S now vs peer median 7.1xmedian 4.9x 0.8xmedian 4.9x 7.9xmedian 4.9x
EV/EBITDA now vs peer median 17.0xmedian 11.2x 7.9xmedian 11.2x 84.5xmedian 11.2x
P/FCF now vs peer median 24.6xmedian 6.2x 4.7xmedian 6.2x -17.2xmedian 6.2x
P/B now vs peer median 5.0xmedian 0.6x 0.7xmedian 0.6x 0.9xmedian 0.6x
PEG now vs peer median 3.08median 0.32 1.66median 0.32 -2.96median 0.32

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 monthsJOEFORTRC
Revenue $542.95M $1.72B $56.84M
Gross profit $250.51M $368.90M –
Operating income $173.94M $213.60M -$515.00K
Net income $120.57M $170.50M $6.04M
Free cash flow $157.37M $282.90M -$26.03M
EPS (diluted) $2.14 $3.32 $0.22
Cash & equivalents $117.86M $394.90M $3.87M
Total debt – $793.80M $377.27M
Shares (diluted) 56.76M 51.30M 27.07M
Enterprise value $3.60B -$79.94M $370.86M

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
MetricJOEFORTRC
P/E 32.0x 7.8x 74.2x
P/FCF 24.6x 4.7x -17.2x
P/Operating cash flow 20.5x 4.7x 35.9x
P/S 7.1x 0.8x 7.9x
P/B 5.0x 0.7x 0.9x
P/Tangible book 5.0x 0.7x 0.9x
EV/EBITDA 17.0x 7.9x 84.5x
EV/EBIT 21.5x 8.1x -1,026x
EV/Revenue 6.9x 1.0x 9.3x
EV/FCF 23.8x 6.1x -20.3x
EV/Operating cash flow 19.9x 6.1x 42.4x
PEG (3Y EPS CAGR) 3.08 1.66 -2.96

Growth

14 metrics
MetricJOEFORTRC
Revenue growth (1Y) 11.1% 11.8% 25.4%
Revenue CAGR (3Y) 14.2% 10.8% –
Gross profit growth (1Y) 21.2% 6.7% –
Gross profit CAGR (3Y) – 9.9% –
Operating income growth (1Y) 31.3% 5.7% 94.8%
Operating income CAGR (3Y) 27.6% 5.4% -27.1%
Net income growth (1Y) 15.1% 4.9% 1,237%
Net income CAGR (3Y) 10.4% 5.5% -24.8%
EPS growth (1Y) 18.2% 4.1% 1,233%
EPS CAGR (3Y) 10.4% 4.7% -25.1%
Operating cash flow growth (1Y) 6.9% 184.8% -8.4%
Operating cash flow CAGR (3Y) 19.5% 3.6% 21.0%
Free cash flow growth (1Y) 6.1% 183.9% 55.6%
Free cash flow CAGR (3Y) 52.7% 3.7% -24.6%

Profitability

14 metrics
MetricJOEFORTRC
Gross margin 46.1% 21.4% –
EBITDA margin 40.6% 12.6% 11.0%
Operating margin 32.0% 12.4% -0.9%
Pretax margin 29.8% 13.1% 5.1%
Net margin 22.3% 9.9% 10.6%
FCF margin 29.0% 16.4% -45.8%
Operating cash flow margin 34.7% 16.5% 21.9%
Return on equity 15.6% 9.3% 1.2%
Return on assets 8.0% 5.3% 0.9%
Return on invested capital – 6.1% 0.0%
Return on capital employed – – -0.1%
Asset turnover 0.4x 0.5x 0.1x
Cash conversion (OCF / net income) 1.6x 1.7x 2.1x
Stock comp / revenue 0.2% 0.5% 2.0%

Financial Health

11 metrics
MetricJOEFORTRC
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 48.4% 42.3% 22.9%
Equity / assets 51.6% 57.7% 77.1%
Interest coverage 6.2x – –
Current ratio – – 2.9x
Quick ratio – – 1.6x
Cash ratio – – 1.4x
Altman Z-score – – 2.21

Shareholder Returns

7 metrics
MetricJOEFORTRC
Dividend yield 0.9% – –
Net buyback yield 2.1% 0.0% –
Shareholder yield 3.0% 0.0% 0.0%
Payout ratio (earnings) 30.4% – –
Payout ratio (FCF) 23.3% – –
Dividend growth (1Y) 12.6% – –
Dividend CAGR (3Y) 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.

ConsensusJOEFORTRC
Forward P/E 88.7xFY2026 8.5xFY2026 97.5xFY2026
EPS, next fiscal year $0.77FY2026 $3.06FY2026 $0.17FY2026
EPS growth, next FY -42.1%FY2026 -7.0%FY2026 +1,600.0%FY2026
EPS growth, the year after – -12.4% +147.1%
Revenue, next fiscal year $273.72MFY2026 $1.77BFY2026 $57.93MFY2026
Revenue growth, next FY -29.7%FY2026 +6.9%FY2026 +16.8%FY2026
Revenue growth, the year after – +1.0% +23.5%

Institutional Ownership

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

JOEFORTRC
JOE 1.00 0.32 0.29
FOR 0.32 1.00 0.33
TRC 0.29 0.33 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, JOE, FOR and TRC?

St Joe (JOE) is the largest by market capitalisation: St Joe (JOE) $4.10B, Forestar (FOR) $1.27B, Tejon Ranch (TRC) $451.24M.

Which stock is cheaper, JOE, FOR and TRC?

Forestar (FOR) trades on the lowest price-to-earnings ratio (St Joe (JOE) 33.8x, Forestar (FOR) 7.4x, Tejon Ranch (TRC) 74.7x). On next year's consensus earnings, Forestar (FOR) is cheapest (St Joe (JOE) 88.7x, Forestar (FOR) 8.5x, Tejon Ranch (TRC) 97.5x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Tejon Ranch (TRC) grew revenue fastest over the trailing twelve months: St Joe (JOE) +11.1%, Forestar (FOR) +11.8%, Tejon Ranch (TRC) +25.4%.

Which company is more profitable?

St Joe (JOE) has the highest net margin (St Joe (JOE) 22.3%, Forestar (FOR) 9.9%, 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: St Joe (JOE) +34.7%, Forestar (FOR) -7.3%, Tejon Ranch (TRC) +3.7%. Over five years, St Joe (JOE) compounded fastest (St Joe (JOE) +7.8%/yr, Forestar (FOR) +5.8%/yr, Tejon Ranch (TRC) -1.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: St Joe (JOE) 0.01%, Forestar (FOR) 0.00%, 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 (St Joe (JOE) 29.9%, Forestar (FOR) 32.9%, Tejon Ranch (TRC) 21.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, JOE, FOR 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 5. 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.