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FRP Holdings, Inc. engages in the real estate business in the United States. The company operates through four segments: Industrial and Commercial, Mining Royalty Lands, Development, and Multifamily. Its Industrial and Commercial segment owns, leases, and manages commercial properties. The Mining Royalty Lands segment owns, leases, and manages mining royalties in Florida, Georgia, and Virginia. Its Development segment owns and assesses the use of parcels of land that are in various stages of development; and constructs new buildings own and operate. The Multifamily segment owns, leases, and manages buildings through joint ventures. FRP Holdings, Inc. was founded in 1988 and is based in Jacksonville, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
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 | $43M | $18M | $3M | $30M | 0.7% | 2.6% | -47.8% |
| 2024 | $42M | $22M | $6M | $29M | 1.4% | 0.6% | 20.4% |
| 2023 | $42M | $22M | $5M | $33M | 1.2% | 10.7% | 16.1% |
| 2022 | $37M | $20M | $5M | $22M | 1.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 37.48 | 41.51 | 41.77 | 42.85 |
| Cost Of Revenue | 4.12 | 3.65 | 3.44 | 3.91 |
| Gross Profit | 33.36 | 37.86 | 38.34 | 38.94 |
| Operating Expense | 25.36 | 26.16 | 26.63 | 31.91 |
| Operating Income | 8 | 11.70 | 11.70 | 7.03 |
| EBITDA | 20.08 | 21.69 | 22.03 | 18.12 |
| EBIT | 8.62 | 10.71 | 11.64 | 6.75 |
| Pretax Income | 5.58 | 6.40 | 8.49 | 3.78 |
| Tax Provision | 1.53 | 1.52 | 2.03 | 0.82 |
| Net Income | 4.57 | 5.30 | 6.38 | 3.33 |
| Net Income Common Stockholders | 4.57 | 5.30 | 6.38 | 3.33 |
| Total Expenses | 29.48 | 29.81 | 30.07 | 35.82 |
| Interest Expense | 3.04 | 4.32 | 3.15 | 2.97 |
| Selling General And Administration | 7.08 | 7.97 | 9.28 | 10.65 |
| Normalized EBITDA | 13.74 | 10.74 | 10.73 | 9.30 |
| Normalized Income | -0.04 | -3.05 | -2.21 | -3.58 |
| Basic EPS | 0.24 | 0.28 | 0.34 | 0 |
| Diluted EPS | 0.24 | 0.28 | 0.34 | 0 |
| Tax Effect Of Unusual Items | 1.74 | 2.59 | 2.70 | 1.91 |
| Tax Rate For Calcs | 0.27 | 0.24 | 0.24 | 0.22 |
| Total Unusual Items | 6.35 | 10.95 | 11.29 | 8.82 |
| Total Unusual Items Excluding Goodwill | 6.35 | 10.95 | 11.29 | 8.82 |
| Net Income From Continuing Operation Net Minority Interest | 4.57 | 5.30 | 6.38 | 3.33 |
| Reconciled Depreciation | 11.46 | 10.97 | 10.39 | 11.38 |
| Reconciled Cost Of Revenue | 3.88 | 3.50 | 3.23 | 3.49 |
| Net Interest Income | -3.04 | -4.32 | -3.15 | -2.97 |
| Net Income From Continuing And Discontinued Operation | 4.57 | 5.30 | 6.38 | 3.33 |
| Total Operating Income As Reported | 8 | 11.70 | 11.70 | 7.03 |
| Diluted Average Shares | 18.87 | 18.92 | 18.78 | 0 |
| Basic Average Shares | 18.77 | 18.84 | 18.78 | 0 |
| Diluted NI Availto Com Stockholders | 4.57 | 5.30 | 6.38 | 3.33 |
| Minority Interests | 0.52 | 0.42 | -0.07 | 0.37 |
| Net Income Including Noncontrolling Interests | 4.05 | 4.88 | 6.46 | 2.96 |
| Net Income Discontinuous Operations | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | 4.05 | 4.88 | 6.46 | 2.96 |
| Other Income Expense | 0.63 | -0.99 | -0.07 | -0.28 |
| Earnings From Equity Interest | -5.72 | -11.94 | -11.36 | -9.11 |
| Gain On Sale Of Security | 6.35 | 10.95 | 11.29 | 8.82 |
| Net Non Operating Interest Income Expense | -3.04 | -4.32 | -3.15 | -2.97 |
| Interest Expense Non Operating | 3.04 | 4.32 | 3.15 | 2.97 |
| Other Operating Expenses | 7.07 | 7.36 | 7.17 | 10.30 |
| Depreciation Amortization Depletion Income Statement | 11.22 | 10.82 | 10.19 | 10.96 |
| General And Administrative Expense | 7.08 | 7.97 | 9.28 | 10.65 |
| Other Gand A | 7.08 | 7.97 | 9.28 | 10.65 |
| Operating Revenue | 37.48 | 41.51 | 41.77 | 42.63 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FRP Holdings, Inc.this co. | FRPH | $398M | 115.44↑ premium | 0.93 | 0.7% | 44.40 |
| The Real Brokerage Inc. | REAX | $461M | - | 8.74 | -15.7% | -61.89 |
| Chatham Lodging Trust | CLDT | $429M | 62.29 | 0.56 | 1.9% | 9.11 |
| Gladstone Land Corporation | LAND | $407M | - | 0.55 | 2.0% | 13.18 |
| FrontView REIT, Inc. | FVR | $398M |
| - |
| 1.00 |
| -0.8% |
| 16.32 |
| KKR Real Estate Finance Trust Inc. | KREF | $396M | - | 0.46 | -3.8% | - |
| Claros Mortgage Trust, Inc. | CMTG | $363M | - | 0.24 | -31.9% | - |
| Alpine Income Property Trust, Inc. | PINE | $339M | - | 1.01 | -0.9% | 14.86 |
| NexPoint Real Estate Finance, Inc. | NREF | $328M | 5.03 | 0.69 | 12.7% | - |
| Peer Median | - | 33.66 | 0.62 | -0.8% | 13.18 | |