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Brookfield Property Partners vs Forestar: revenue, profit, margins and growth compared

Brookfield Property Partners brought in $7.1B of revenue in fiscal 2025, Forestar $1.7B in fiscal 2025. Revenue changed by -21.6% at Brookfield Property Partners and +10.1% at Forestar on the year before, so Forestar grew faster. Brookfield Property Partners kept -4.3% of its revenue as net profit, Forestar 10.1%. Free cash flow was -$1.4B at Brookfield Property Partners and -$199.9M at Forestar.

Side by side, latest fiscal year

BPYPPFOR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$7.1B$1.7B
Revenue growth-21.6%+10.1%
Net income-$305M$167.9M
Net margin-4.3%10.1%
Free cash flow-$1.4B-$199.9M
Free cash flow margin-18.9%-12.0%
Earnings per share (diluted)n/a$3.29
Cash$1.9B$379.2M
Debt$46.3B$802.7M
Price to earningsn/a8.1
Market value$18.6B$1.4B
Dividend yieldn/an/a
Rank by revenue in sector#77 of 444 · Finance#157 of 444 · Finance

Over the years

Revenue
BPYPP FY2018: $7.2BBPYPP FY2019: $8.2BBPYPP FY2020: $6.6BBPYPP FY2021: $7.1BBPYPP FY2022: $7.4BBPYPP FY2023: $9.5BBPYPP FY2024: $9.1BBPYPP FY2025: $7.1BFOR FY2017: $114.3MFOR FY2019: $428.3MFOR FY2020: $931.8MFOR FY2021: $1.3BFOR FY2022: $1.5BFOR FY2023: $1.4BFOR FY2024: $1.5BFOR FY2025: $1.7BFY17FY18FY19FY20FY21FY22FY23FY24FY25
BPYPP $7.1BFOR $1.7B
Net income
BPYPP FY2018: $3.7BBPYPP FY2019: $3.2BBPYPP FY2020: -$2.1BBPYPP FY2021: $3.5BBPYPP FY2022: $996MBPYPP FY2023: -$1.8BBPYPP FY2024: -$2BBPYPP FY2025: -$305MFOR FY2017: $50.3MFOR FY2019: $33MFOR FY2020: $60.8MFOR FY2021: $110.2MFOR FY2022: $178.8MFOR FY2023: $166.9MFOR FY2024: $203.4MFOR FY2025: $167.9MFY17FY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -$305MFOR $167.9M
Net margin
BPYPP FY2018: 50.5%BPYPP FY2019: 38.5%BPYPP FY2020: -31.2%BPYPP FY2021: 49.3%BPYPP FY2022: 13.5%BPYPP FY2023: -19.5%BPYPP FY2024: -21.9%BPYPP FY2025: -4.3%FOR FY2017: 44.0%FOR FY2019: 7.7%FOR FY2020: 6.5%FOR FY2021: 8.3%FOR FY2022: 11.8%FOR FY2023: 11.6%FOR FY2024: 13.5%FOR FY2025: 10.1%FY17FY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -4.3%FOR 10.1%
Revenue growth
BPYPP FY2019: +13.3%BPYPP FY2020: -19.6%BPYPP FY2021: +7.7%BPYPP FY2022: +3.7%BPYPP FY2023: +28.8%BPYPP FY2024: -3.9%BPYPP FY2025: -21.6%FOR FY2020: +117.6%FOR FY2021: +42.3%FOR FY2022: +14.6%FOR FY2023: -5.4%FOR FY2024: +5.0%FOR FY2025: +10.1%FY19FY20FY21FY22FY23FY24FY25
BPYPP -21.6%FOR +10.1%
Free cash flow
BPYPP FY2018: $879MBPYPP FY2019: $252MBPYPP FY2020: $1.2BBPYPP FY2021: $450MBPYPP FY2022: -$260MBPYPP FY2023: -$1.2BBPYPP FY2024: $615MBPYPP FY2025: -$1.4BFOR FY2017: -$15.4MFOR FY2019: -$392.1MFOR FY2020: -$169MFOR FY2021: -$304.7MFOR FY2022: $105.2MFOR FY2023: $362.8MFOR FY2024: -$160.6MFOR FY2025: -$199.9MFY17FY18FY19FY20FY21FY22FY23FY24FY25
BPYPP -$1.4BFOR -$199.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Brookfield Property Partners and Forestar

Which is bigger by revenue, Brookfield Property Partners or Forestar?

Brookfield Property Partners is bigger by revenue: $7.1B in fiscal 2025, against $1.7B for Forestar in fiscal 2025.

Which keeps more of its revenue as profit, Brookfield Property Partners or Forestar?

Brookfield Property Partners had a net margin of -4.3% in fiscal 2025; Forestar had 10.1% in fiscal 2025.

Which grew revenue faster, Brookfield Property Partners or Forestar?

In their latest fiscal years revenue changed by -21.6% at Brookfield Property Partners and +10.1% at Forestar.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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