Four Corners Property Trust, Inc.

FCPT

Real EstateMid CapUS Equities · NYSE / NASDAQ

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Company Profile

Four Corners Property Trust, Inc. is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Four Corners Property Trust, Inc is headquartered in Mill Valley, California. Four Corners Property Trust, Inc. was established on July 02, 2015 and incorporated in Maryland.

Valuation

Market Cap$2.6B

Current Price$24.95as of Jun 23, 2026

P/E Ratio23.38

P/B Ratio1.61

EV / EBITDA17.00

EV / Sales13.01

Profitability

Operating Margin55.7%

Net Profit Margin38.2%

EBITDA Margin76.5%

Returns

ROE6.9%

ROCE5.7%

ROIC %-

ROA3.8%

Solvency

Current Ratio0.30

Debt / Equity0.74

Debt / Assets0.41

CFO / Net Profit1.71

Price History▼ 10.41% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$294M▲ 9.7%

EBITDA$225M▲ 10.0%

Net Profit$112M▲ 11.8%

Cash from Ops (CFO)$192M▲ 33.4%

Free Cash Flow (FCF)$192M▲ 33.4%

Revenue CAGR 3Y9.6%

Revenue CAGR 5Y-

Net Profit CAGR 3Y4.7%

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$294M	$225M	$112M	$192M	6.9%	9.7%	11.8%
2024	$268M	$205M	$100M	$144M	6.9%	7.0%	5.4%
2023	$251M	$191M	$95M	$165M	7.6%	12.3%	-2.5%
2022	$223M	$176M	$98M	$142M	8.6%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	223.19	250.61	268.07	294.13
Operating Revenue	-	223.19	250.61	268.07	294.13
Cost Of Revenue	-	35.81	40.26	40.60	43
Gross Profit	-	187.38	210.35	227.47	251.13
Operating Expense	-	61.51	73.41	78.30	87.27
Selling General And Administration	-	20.04	22.68	23.79	26.84
Total Expenses	-	97.32	113.67	118.90	130.27
Operating Income	-	125.87	136.94	149.17	163.86
EBITDA	-	176.02	190.93	204.65	225.09
Normalized EBITDA	-	167.88	188.59	204.65	225.09
EBIT	-	134.55	140.20	150.13	164.66
Interest Expense	-	36.40	44.61	49.23	51.87
Net Interest Income	-	-36.40	-44.61	-49.23	-51.87
Other Non Operating Income Expenses	-	0.54	0.92	0.96	0.80
Other Income Expense	-	8.68	3.26	0.96	0.80
Interest Expense Non Operating	-	36.40	44.61	49.23	51.87
Net Non Operating Interest Income Expense	-	-36.40	-44.61	-49.23	-51.87
Pretax Income	-	98.14	95.59	100.90	112.79
Tax Provision	-	0.24	0.13	0.31	0.30
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0.02	0	0	0
Net Income Continuous Operations	-	97.91	95.46	100.60	112.49
Net Income From Continuing And Discontinued Operation	-	97.77	95.34	100.47	112.36
Net Income From Continuing Operation Net Minority Interest	-	97.77	95.34	100.47	112.36
Net Income	-	97.77	95.34	100.47	112.36
Net Income Common Stockholders	-	97.77	95.34	100.47	112.36
Net Income Including Noncontrolling Interests	-	97.91	95.46	100.60	112.49
Normalized Income	-	89.65	93	100.47	112.36
Diluted NI Availto Com Stockholders	-	97.77	95.34	100.47	112.36
Basic Average Shares	-	81.59	88.53	93.64	102.69
Diluted Average Shares	-	81.81	88.75	94.06	102.95
Reconciled Depreciation	-	41.47	50.73	54.51	59.60
Reconciled Cost Of Revenue	-	35.81	40.26	40.60	43.83
Total Unusual Items	-	8.14	2.34	0	0
Total Unusual Items Excluding Goodwill	-	8.14	2.34	0	0
Minority Interests	-	-0.14	-0.12	-0.12	-0.12
Special Income Charges	-	8.14	2.34	0	0
Gain On Sale Of Security	0.43	8.14	2.34	-	-
Depreciation Amortization Depletion Income Statement	-	41.47	50.73	54.51	60.42
Depreciation And Amortization In Income Statement	-	41.47	50.73	54.51	60.42
General And Administrative Expense	-	20.04	22.68	23.79	26.84
Other Gand A	-	20.04	22.68	23.79	26.84
Gain On Sale Of Ppe	-	8.14	2.34	0	0

Peer Comparison

Real Estate sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Four Corners Property Trust, Inc.this co.	FCPT	$2.6B	23.38↓ discount	1.61	6.9%	17.00
Cushman & Wakefield Limited	CWK	$3.1B	35.25	1.59	4.5%	10.21
Highwoods Properties, Inc.	HIW	$3.1B	19.71	1.30	6.6%	10.86
Curbline Properties Corp.	CURB	$3.1B	76.74	1.60	2.1%	25.57
LXP Industrial Trust

Learn while you research

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01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Sectors & Industries

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$294M

$225M

$112M

$192M

6.9%

9.7%

11.8%

2024

$268M

$205M

$100M

$144M

6.9%

7.0%

5.4%

2023

$251M

$191M

$95M

$165M

7.6%

12.3%

-2.5%

2022

$223M

$176M

$98M

$142M

8.6%

Metric

2021

2022

2023

2024

2025

Total Revenue

223.19

250.61

268.07

294.13

Operating Revenue

223.19

250.61

268.07

294.13

Cost Of Revenue

35.81

40.26

40.60

Gross Profit

187.38

210.35

227.47

251.13

Operating Expense

61.51

73.41

78.30

87.27

Selling General And Administration

20.04

22.68

23.79

26.84

Total Expenses

97.32

113.67

118.90

130.27

Operating Income

125.87

136.94

149.17

163.86

EBITDA

176.02

190.93

204.65

225.09

Normalized EBITDA

167.88

188.59

204.65

225.09

EBIT

134.55

140.20

150.13

164.66

Interest Expense

36.40

44.61

49.23

51.87

Net Interest Income

-36.40

-44.61

-49.23

-51.87

Other Non Operating Income Expenses

0.54

0.92

0.96

0.80

Other Income Expense

8.68

3.26

0.96

0.80

Interest Expense Non Operating

36.40

44.61

49.23

51.87

Net Non Operating Interest Income Expense

-36.40

-44.61

-49.23

-51.87

Pretax Income

98.14

95.59

100.90

112.79

Tax Provision

0.24

0.13

0.31

0.30

Tax Rate For Calcs

Tax Effect Of Unusual Items

0.02

Net Income Continuous Operations

97.91

95.46

100.60

112.49

Net Income From Continuing And Discontinued Operation

97.77

95.34

100.47

112.36

Net Income From Continuing Operation Net Minority Interest

97.77

95.34

100.47

112.36

Net Income

97.77

95.34

100.47

112.36

Net Income Common Stockholders

97.77

95.34

100.47

112.36

Net Income Including Noncontrolling Interests

97.91

95.46

100.60

112.49

Normalized Income

89.65

100.47

112.36

Diluted NI Availto Com Stockholders

97.77

95.34

100.47

112.36

Basic Average Shares

81.59

88.53

93.64

102.69

Diluted Average Shares

81.81

88.75

94.06

102.95

Reconciled Depreciation

41.47

50.73

54.51

59.60

Reconciled Cost Of Revenue

35.81

40.26

40.60

43.83

Total Unusual Items

8.14

2.34

Total Unusual Items Excluding Goodwill

8.14

2.34

Minority Interests

-0.14

-0.12

Special Income Charges

8.14

2.34

Gain On Sale Of Security

0.43

8.14

2.34

Depreciation Amortization Depletion Income Statement

41.47

50.73

54.51

60.42

Depreciation And Amortization In Income Statement

41.47

50.73

54.51

60.42

General And Administrative Expense

20.04

22.68

23.79

26.84

Other Gand A

20.04

22.68

23.79

26.84

Gain On Sale Of Ppe

8.14

2.34

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Four Corners Property Trust, Inc.this co.

FCPT

$2.6B

23.38↓ discount

1.61

6.9%

17.00

Cushman & Wakefield Limited

CWK

$3.1B

35.25

1.59

4.5%

10.21

Highwoods Properties, Inc.

HIW

$3.1B

19.71

1.30

6.6%

10.86

Curbline Properties Corp.

CURB

$3.1B

76.74

1.60

2.1%

25.57

LXP Industrial Trust

Four Corners Property Trust, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Four Corners Property Trust, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on