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Five Point Holdings (FPH)
:FPH
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Five Point Holdings
(NYSE:FPH)
74Outperform
Five Point Holdings (FPH) vs. S&P 500 (SPY)
Market Cap
$596.95M
Dividend YieldN/A
Average Volume (3M)176.90K
Price to Earnings (P/E)4.5
Beta (1Y)0.97
Revenue Growth11.66%
EPS Growth78.44%
CountryUS
Employees88
SectorReal Estate
Sector Strength82
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.32
Shares Outstanding69,858,635
10 Day Avg. Volume162,425
30 Day Avg. Volume176,904
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio1.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering0
Five Point Holdings Business Overview & Revenue Model
Company DescriptionFive 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, 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.
How the Company Makes MoneyFive Point Holdings makes money primarily through the development and sale of residential and commercial real estate properties within its master-planned communities. Key revenue streams include the sale of residential lots to homebuilders, commercial land sales, and development fees. The company may also generate income through property leasing and management services. Strategic partnerships with homebuilders, commercial developers, and local government entities play a significant role in the successful execution and financial viability of its projects.
Five Point Holdings Financial Statement Overview
Summary
Five Point Holdings shows strong financial performance with a high gross profit margin and solid net profit margin. The balance sheet is robust, with no debt and strong equity, reducing financial risk. However, cash flow volatility and the absence of EBITDA limit the assessment of operational efficiency.Income Statement
Five Point Holdings has shown significant improvement in revenue and profitability in the latest year compared to previous years. The most recent annual report indicates a gross profit margin of 100% due to the entirety of revenue being converted to gross profit, and a strong net profit margin of approximately 97.7%. The company has experienced solid revenue growth, particularly notable from 2022 to 2023, suggesting a positive trajectory in their financial performance. However, the absence of EBITDA in the latest year limits the analysis of operational efficiency.75
Positive
Balance Sheet
The balance sheet of Five Point Holdings reflects a strong equity position, with stockholders' equity making up a substantial portion of total assets. The company has a debt-free balance sheet as of the latest report, which significantly reduces financial risk and enhances stability. The equity ratio is robust, indicating a solid foundation for growth. Additionally, the return on equity has improved remarkably, reflecting efficient utilization of equity to generate profits.80
Positive
Cash Flow
The cash flow statement indicates a healthy free cash flow and a positive operating cash flow in the latest report, which suggests strong cash generation capabilities. However, the free cash flow has decreased compared to the previous year, indicating potential volatility in cash management. The operating cash flow to net income ratio remains positive, showing efficient conversion of profits into cash.65
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 241.15M | 237.93M | 211.73M | 42.69M | 224.39M | 153.62M | Gross Profit |
| 132.72M | 118.83M | 77.74M | 15.20M | 80.10M | 42.25M | EBIT |
| 79.64M | 67.60M | 26.25M | -36.90M | -23.00M | -55.39M | EBITDA |
| 102.39M | 86.96M | 46.10M | -22.20M | 2.98M | -27.11M | Net Income Common Stockholders |
| 89.25M | 68.30M | 55.39M | -34.77M | 13.31M | 1.09M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 62.69M | 430.88M | 353.80M | 131.77M | 265.46M | 298.14M | Total Assets |
| 3.16B | 3.08B | 2.97B | 2.89B | 2.94B | 2.96B | Total Debt |
| 0.00 | 525.74M | 692.54M | 620.65M | 619.12M | 617.58M | Net Debt |
| -1.74M | 94.86M | 337.75M | 488.88M | 353.65M | 319.44M | Total Liabilities |
| 0.00 | 896.32M | 962.18M | 992.74M | 1.02B | 1.05B | Stockholders Equity |
| 0.00 | 749.44M | 678.05M | 618.13M | 634.42M | 617.67M |
| Cash Flow | Free Cash Flow | ||||
| 198.74M | 115.18M | 154.12M | -188.38M | -81.57M | -80.65M | Operating Cash Flow |
| 199.14M | 115.99M | 154.12M | -188.30M | -81.42M | -78.50M | Investing Cash Flow |
| 106.32M | 70.06M | 77.11M | 63.99M | 75.31M | 52.94M | Financing Cash Flow |
| -9.81M | -108.98M | -9.20M | -9.72M | -26.58M | -23.54M |
Five Point Holdings Technical Analysis
Positive
5.54
Price Trends
5.28
Positive
5.05
Positive
4.34
Positive
Market Momentum
0.07
Negative
59.63
Neutral
60.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FPH, the sentiment is Positive. The current price of 5.54 is above the 20-day moving average (MA) of 5.21, above the 50-day MA of 5.28, and above the 200-day MA of 4.34, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 59.63 is Neutral, neither overbought nor oversold. The STOCH value of 60.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FPH.
Five Point Holdings Risk Analysis
Five Point Holdings disclosed 37 risk factors in its most recent earnings report. Five Point Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Five Point Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $115.69M | 9.04 | 10.82% | ― | 30.36% | 481.87% | |
74 Outperform | $596.95M | 4.45 | 12.27% | ― | 11.66% | 78.44% | |
70 Outperform | $1.05B | 6.24 | 10.81% | ― | -5.60% | -17.86% | |
68 Neutral | $255.41M | 14.86 | 2.61% | ― | 28.13% | -37.71% | |
60 Neutral | $2.82B | 11.08 | 0.22% | 8543.15% | 6.09% | -16.11% | |
54 Neutral | $209.98M | ― | -2.20% | ― | -6.48% | -592.10% |
* Real Estate Sector Average
Performance Comparison
FPH
Five Point Holdings
5.54
2.31
71.52%
ARL
American Realty Investors
13.00
-0.76
-5.52%
AXR
Amrep
22.07
1.43
6.93%
FOR
Forestar Group
20.58
-13.06
-38.82%
LSEA
Landsea Homes
7.02
-3.29
-31.91%
OZ
Belpointe PREP
66.80
6.80
11.33%
Five Point Holdings Earnings Call Summary
Earnings Call Date:Apr 24, 2025
(Q1-2025)
| % Change Since: 6.54%|
Next Earnings Date:Jul 30, 2025
Earnings Call Sentiment Positive
The earnings call highlighted robust financial results, increased liquidity, and successful land sales, contrasted by challenges from market uncertainties and tariff policies affecting economic conditions.Q1-2025 Updates
Positive Updates
Stronger-than-Expected Net Income
Five Point Holdings reported a net income of $60.6 million for Q1, exceeding guidance by $10 million.
Successful Residential Land Sales
The Great Park Venture secured sales of 325 homesites on 23.6 acres for $278.9 million.
Increased Liquidity
Five Point ended the quarter with total liquidity of $653.3 million, including $528.3 million in cash.
Credit Rating Upgrade
Five Point received a credit rating upgrade from S&P from B- to B, with senior notes upgraded from B to B+.
Steady Home Sales in Great Park
Builders sold 233 homes in Q1 at Great Park, up from 143 homes in Q4 2024.
Negative Updates
Market Uncertainty Impact
Economic challenges due to shifting tariff policies and higher mortgage rates were noted, affecting consumer sentiment and sales pace.
Negative Carry on Debt
Five Point faced a negative carry due to holding cash against a higher coupon debt, resulting in a cost of $30 million.
Tariff Policy Concerns
Tariff policies have put upward pressure on interest rates and inflation, impacting the housing market.
Company Guidance
In the first quarter of 2025, Five Point Holdings, LLC reported a net income of $60.6 million, exceeding their guidance by approximately $10 million. The company's financial success was driven by several key factors, including revenue generation from land sales, controlling expenses, and effective capital management. Specifically, the Great Park Venture contributed significantly with land sales revenue of $278.9 million, resulting in a gross margin of 75%. The company ended the quarter with total liquidity of $653.3 million, comprising $528.3 million in cash and cash equivalents and $125 million in borrowing availability. Five Point's credit rating was upgraded by S&P from B- to B, with senior notes upgraded to B+ due to consistent earnings and cash generation. Looking ahead, Five Point anticipates net income close to $200 million for 2025, contingent on the timing of development processes in Los Angeles County.Five Point Holdings Corporate Events
Executive/Board Changes
Leadership Changes at Five Point Holdings Board
Positive
Oct 16, 2024
Five Point Holdings, LLC has announced significant changes to its Board of Directors, with Sam Levinson, Chief Investment Officer at Glick Family Investments, joining as a new director following a major equity purchase. This move coincides with the resignation of Evan Carruthers, a long-standing board member and executive at Castlelake. Levinson’s appointment is expected to bring fresh insights to Five Point’s development of large-scale, mixed-use communities across California, offering promising growth opportunities for investors.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.