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Five Point Holdings, LLC

Five Point Holdings, LLC

NYSE•FPH
CEO: Mr. Stuart A. Miller
Sector: Real Estate
Industry: Real Estate - Development
Listing Date: 2017-05-10
Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, owns and develops mixed-use and planned communities in Orange County, Los Angeles County, and San Francisco County. The company operates in four segments: Valencia, San Francisco, Great Park, and Commercial. It sells residential and commercial land sites to homebuilders, commercial developers, and commercial buyers; operates and owns a commercial office, research and development, medical campus, and other properties; and provides development and property management services. The company was formerly known as Newhall Holding Company, LLC and changed its name to Five Point Holdings, LLC in May 2016. Five Point Holdings, LLC was incorporated in 2009 and is headquartered in Irvine, California.
Contact Information
2000 FivePoint, 4th Floor, Irvine, CA, 92618, United States
949-349-1000
www.fivepoint.com
Market Cap
$385.02M
P/E (TTM)
1.8
30.9
Dividend Yield
--
52W High
$6.71
52W Low
$3.51
52W Range
63%
Rank55Top 68.5%
3.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$13.49M-20.72%
4-Quarter Trend

EPS

$0.28+308.16%
4-Quarter Trend

FCF

$40.42M-325.17%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Net Income Surges Net income Q3 2025 reached $21.1 M, up 342% from $4.8 M in Q3 2024, driven by equity earnings recognition.
Strong Liquidity Position Total cash, equivalents, and restricted cash ended period at $352.1 M, increasing $126.6 M since year-end 2024.
Hearthstone Venture Acquired Closed 75% controlling interest in Hearthstone Venture July 2025 for $57.6 M cash, expanding capital solutions platform.
Great Park Land Sales Strong Great Park Venture recognized $630.7 M land sales revenue for nine months 2025, supporting segment profit growth.

Risk Factors

Consolidated Revenue Declines Total revenues for nine months 2025 fell 56.3% to $34.1 M, compared to $78.1 M reported in nine months 2024.
Market Headwinds Persist New home market faces affordability challenges due to high interest rates impacting Valencia land sales expectations.
Debt Refinancing Completed Issued $450.0 M 2030 Notes, retiring $523.5 M 2028 Notes, incurring $1.8 M loss on debt extinguishment.
Ongoing Litigation Exposure Hunters Point Litigation remains active regarding alleged contamination at The San Francisco Shipyard development site.

Outlook

Credit Facility Expanded Increased revolving credit capacity to $217.5 M and extended maturity date to July 2029 to support liquidity needs.
Valencia Sales Pipeline Expect commercial sale closing in Valencia Q4 2025; working on two residential land sales projected for closing in 2026.
TRA Payments Timing TRA payments may be delayed until 2026-2028 due to California tax law suspending NOL deductions through 2026.
Future Capital Needs Expect sufficient capital for next 12 months with available cash, distributions, and revolving credit facility access.

Peer Comparison

Revenue (TTM)

The RMR Group Inc.RMR
$753.59M
-17.0%
Five Point Holdings, LLCFPH
$193.90M
-1.5%
Transcontinental Realty Investors, Inc.TCI
$46.66M
-3.2%

Gross Margin (Latest Quarter)

The RMR Group Inc.RMR
42.7%
+29.6pp
FRP Holdings, Inc.FRPH
34.3%
-57.8pp
Transcontinental Realty Investors, Inc.TCI
4.6%
-40.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
RMR$481.23M12.98.3%17.9%
TCI$475.68M72.10.8%18.9%
FRPH$434.86M92.61.1%25.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-56.1%
Growth Under Pressure
4Q Net Income CAGR
-23.2%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Jan 22, 2026
|
EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 31, 2025|
    Revenue: $13.49M-20.7%
    |
    EPS: $0.28+308.2%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 25, 2025|
    Revenue: $7.47M-85.4%
    |
    EPS: $0.05-77.4%
    Meet

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 25, 2025|
    Revenue: $13.16M+32.4%
    |
    EPS: $0.33+879.2%
    N/A

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 24, 2025|
    Revenue: $237.93M+12.4%
    |
    EPS: $0.98-35.9%
    Meet

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 18, 2024|
    Revenue: $17.01M-74.2%
    |
    EPS: $0.07-28.4%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 19, 2024|
    Revenue: $51.19M+139.8%
    |
    EPS: $0.21-71.6%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 22, 2024|
    Revenue: $9.94M+74.3%
    |
    EPS: $0.03-124.1%
    N/A

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 4, 2024|
    Revenue: $211.73M+395.9%
    |
    EPS: $1.53+795.5%
    Meet