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Assets by Geography
The location and value of the company’s assets—land, work‑in‑progress, inventory, and infrastructure—show where future revenue and collateral are concentrated. For Five Point, geographic asset distribution highlights exposure to specific county markets, entitlement and construction risk, and the scale of undeveloped land that drives long‑term value or potential write‑downs if local conditions weaken.Five Point's asset mix is shifting: Great Park inventory has materially declined as management monetized high‑margin parcels (driving record 2025 earnings), while San Francisco and Valencia holdings have been stable-to-up, and the Commercial line falls to zero—consistent with reclassification/sales and the Great Park commercial-to-residential conversion. The late‑2025 appearance and growth of Hearthstone assets reflects the acquisition that boosts fee‑based AUM, smoothing earnings. Net result: less land inventory (near‑term revenue headwinds and back‑loaded 2026 guidance) but stronger liquidity and a deliberate pivot toward recurring fee income and entitlement-driven upside.
Date | Other | Valencia | San Francisco | Great Park | Commercial | Hearthstone |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $69.08M | $1.06B | $1.50B | $461.68M | $0.00 | $127.52M |
Mar 31, 2026 | $100.83M | $1.02B | $1.49B | $448.24M | $0.00 | $125.71M |
Dec 31, 2025 | $197.28M | $1.00B | $1.48B | $449.64M | $0.00 | $122.08M |
Sep 30, 2025 | $105.12M | $1.02B | $1.47B | $474.30M | $0.00 | $120.42M |
Jun 30, 2025 | $168.53M | $982.69M | $1.46B | $552.26M | $0.00 | $0.00 |
Mar 31, 2025 | $264.53M | $945.43M | $1.44B | $506.23M | $0.00 | $0.00 |
Dec 31, 2024 | $66.11M | $914.58M | $1.42B | $670.91M | $0.00 | $0.00 |
Sep 30, 2024 | -$225.91M | $974.00M | $1.41B | $709.97M | $84.40M | $0.00 |
Jun 30, 2024 | -$261.21M | $942.55M | $1.39B | $763.85M | $85.00M | $0.00 |
Mar 31, 2024 | -$184.15M | $916.29M | $1.38B | $678.69M | $85.85M | $0.00 |