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Five Point Holdings
(NYSE:FPH)
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Rating:65Neutral
Price Target:
$5.50
▲(5.16% Upside)
Action:Reiterated
Date:07/25/26
The score is driven primarily by improving financial stability (positive net income/FCF and reduced leverage) but tempered by highly timing-driven results and volatile operating/cash-flow consistency typical of land sales. The latest earnings call supports the outlook with reiterated guidance, strong liquidity, and low leverage, though concentration and market-timing risks remain. Valuation is favorable due to the low P/E, while technicals are only mildly supportive with neutral momentum and the stock still below its 200-day average.
Positive Factors
Improved leverage & balance sheet
A materially lower debt-to-equity and sizable equity base provide durable financial flexibility for a cyclical developer. Reduced leverage lowers refinancing risk, supports continued infrastructure funding, and allows the firm to time land monetization instead of forcing sales during down cycles.
Negative Factors
Revenue and cash-flow volatility
Five Point's results remain highly timing-sensitive: land-sale closings and working-capital swings drive lumpy revenue and cash flow. This structural volatility complicates capital allocation, forecasting, and reinvestment decisions and can force opportunistic financing in weak windows.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage & balance sheet
A materially lower debt-to-equity and sizable equity base provide durable financial flexibility for a cyclical developer. Reduced leverage lowers refinancing risk, supports continued infrastructure funding, and allows the firm to time land monetization instead of forcing sales during down cycles.
Read all positive factors
Five Point Holdings Key Performance Indicators (KPIs)
Any
Revenue by Geography
Revenue split across regions, indicating where sales of homes, lots, commercial space, and related services are generated. Knowing the geographic source of revenue helps investors judge growth potential and vulnerability to local housing demand, price sensitivity, and policy or economic changes that can quickly affect cash flow for a land‑heavy developer like Five Point.
Revenue split across regions, indicating where sales of homes, lots, commercial space, and related services are generated. Knowing the geographic source of revenue helps investors judge growth potential and vulnerability to local housing demand, price sensitivity, and policy or economic changes that can quickly affect cash flow for a land‑heavy developer like Five Point.
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The Fly
The FlyFive Point Holdings (FPH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$586.77M
Dividend YieldN/A
Average Volume (3M)187.21K
Price to Earnings (P/E)7.3
Beta (1Y)0.70
Revenue Growth-40.80%
EPS Growth-33.41%
CountryUS
Employees90
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)0.75
Shares Outstanding71,783,260
10 Day Avg. Volume166,575
30 Day Avg. Volume187,209
Financial Highlights & Ratios
PEG Ratio1.81
Price to Book (P/B)0.46
Price to Sales (P/S)3.56
P/FCF Ratio3.72
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Five Point Holdings Business Overview & Revenue Model
Company Description
Five Point Holdings, LLC, primarily operating through its subsidiary, Five Point Operating Company, LP, specializes in the ownership and development of large-scale, multi-purpose communities across Orange, Los Angeles, and San Francisco Counties i...
How the Company Makes Money
FPH primarily makes money through real estate development-related land sales and associated activities within its master-planned communities. Key revenue streams include: (1) Sale of entitled land parcels: FPH advances raw land through planning an...
Five Point Holdings Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call presented several strong positives: a profitable quarter driven by a high-margin transformative land sale, robust joint-venture distributions, substantial liquidity, low leverage, and continued progress on large development projects (including Candlestick). Management emphasized strategic diversification via the Hearthstone asset-management platform to create recurring, fee-based income. Offsetting these positives were moderating home sales sequentially, builder caution that could delay land-sale timing, concentration of near-term earnings in the Great Park sale, and no quarter-over-quarter growth in Hearthstone AUM. On balance, the positive operational and financial foundations and maintained full-year guidance outweigh the short-term execution and market-timing risks.Positive Updates
Quarterly Profitability Driven by Major Land Sale
Consolidated net income of $29.9 million in Q2 2026, largely driven by the Great Park Venture sale of 17.7 acres for $159.3 million (approximately $9.0 million per acre). The Great Park sale produced a 76.5% gross margin and contributed to the Great Park Venture's net income of $114.2 million.
Negative Updates
Sequential Home Sales Moderation
Homebuilder sales slowed sequentially: Great Park sold 56 homes in Q2 versus 82 in Q1 (a decline of ~31.7% quarter-over-quarter) and Valencia sold 78 homes in Q2 versus 90 in Q1 (a decline of ~13.3% quarter-over-quarter), indicating moderation in absorption and homebuyer pace.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Profitability Driven by Major Land Sale
Consolidated net income of $29.9 million in Q2 2026, largely driven by the Great Park Venture sale of 17.7 acres for $159.3 million (approximately $9.0 million per acre). The Great Park sale produced a 76.5% gross margin and contributed to the Great Park Venture's net income of $114.2 million.
Read all positive updates
Company Guidance
Management reiterated prior FY2026 guidance of approximately $100 million in consolidated net income and said they will not update it at this time, while noting they currently expect remaining land sales activity to occur in Q4 (timing subject to interest‑rate and affordability risk and to be updated on the Q3 call). They cited supporting Q2 metrics: consolidated net income of $29.9 million (including the Great Park Venture sale of 17.7 acres for $159.3 million, ~ $9.0 million/acre), $79.6 million of JV distributions/incentive payments received, total liquidity of $565.9 million (cash $348.4 million plus $217.5 million revolver availability), net debt $101.6 million and a debt‑to‑capital ratio of 16.2%, Hearthstone AUM of $3.4 billion (fee‑paying AUM $2.8 billion), and ongoing land sale discussions including five potential residential programs totaling ~28.5 acres that management expects to execute this fiscal year if market conditions permit.Five Point Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 116.87M | 110.02M | 237.93M | 211.73M | 42.69M | 224.39M |
| Gross Profit | 48.36M | 44.47M | 118.83M | 77.74M | 15.20M | 80.10M |
| EBITDA | 102.42M | 221.21M | 224.46M | 129.23M | -19.30M | 38.97M |
| Net Income | 53.00M | 70.97M | 68.30M | 55.39M | -15.40M | 6.57M |
Balance Sheet | ||||||
| Total Assets | 3.22B | 3.24B | 3.08B | 2.97B | 2.89B | 2.94B |
| Cash, Cash Equivalents and Short-Term Investments | 348.38M | 426.54M | 430.88M | 354.79M | 131.77M | 265.46M |
| Total Debt | 444.05M | 518.07M | 598.77M | 692.54M | 699.35M | 708.69M |
| Total Liabilities | 814.88M | 860.41M | 896.32M | 962.18M | 992.74M | 1.02B |
| Stockholders Equity | 849.00M | 843.25M | 749.44M | 678.05M | 618.13M | 634.42M |
Cash Flow | ||||||
| Free Cash Flow | 65.19M | 105.01M | 115.18M | 154.12M | -188.38M | -81.57M |
| Operating Cash Flow | 65.48M | 105.23M | 115.99M | 154.12M | -188.30M | -81.42M |
| Investing Cash Flow | -16.77M | -6.55M | 70.06M | 77.11M | 63.99M | 75.31M |
| Financing Cash Flow | -156.97M | -104.01M | -108.98M | -9.20M | -9.72M | -26.58M |
Five Point Holdings Technical Analysis
Positive
5.23
Price Trends
5.12
Positive
5.05
Positive
5.39
Negative
Market Momentum
0.01
Positive
54.01
Neutral
33.84
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 5.23 is above the 20-day moving average (MA) of 5.19, above the 50-day MA of 5.12, and below the 200-day MA of 5.39, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 54.01 is Neutral, neither overbought nor oversold. The STOCH value of 33.84 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 38 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $1.48B | 8.78 | 9.42% | ― | 11.76% | 4.46% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $586.77M | 7.29 | 6.35% | ― | -40.80% | -33.41% | |
51 Neutral | $131.16M | -5.87 | -0.85% | ― | ― | ― | |
49 Neutral | $237.27M | 19.67 | 1.99% | ― | 6.16% | ― |
* Real Estate Sector Average
FPH
Five Point Holdings
5.29
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Five Point Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Five Point Holdings Shareholders Approve Directors and Governance Measures
Positive
Jun 5, 2026
Five Point Holdings, LLC reported the results of its 2026 Annual Meeting of Shareholders, held on June 4, 2026, where 91.5% of eligible common shares were represented in person or by proxy. Shareholders elected three directors—Kathleen Brown...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.