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FCPT

Four Corners Property Trust, Inc.

FCPT

Four Corners Property Trust, Inc. • NYSE
$24.04 ▲ 0.12% (+0.03)
Market Cap $2.55 B
52w High $29.81
52w Low $23.05
Dividend Yield 1.42%
P/E 22.26
Volume 394.56K
Outstanding Shares 106.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $74.149M ▲ $28.797M ▼ $28.845M ▲ 38.901% ▲ $0.28 $108.794M ▲
Q2-2025 $72.842M ▲ $35.976M ▲ $27.924M ▲ 38.335% ▲ $0.28 ▲ $55.768M ▲
Q1-2025 $71.476M ▲ $22.068M ▲ $26.156M ▼ 36.594% ▼ $0.26 ▼ $53.409M ▲
Q4-2024 $68.336M ▲ $19.821M ▲ $26.176M ▲ 38.305% ▲ $0.27 $52.71M ▲
Q3-2024 $66.791M $19.453M $25.581M 38.3% $0.27 $51.632M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.725M ▲ $2.834B ▲ $1.299B ▲ $1.534B ▲
Q2-2025 $5.981M ▼ $2.766B ▲ $1.283B ▲ $1.483B ▲
Q1-2025 $22.263M ▲ $2.711B ▲ $1.278B ▲ $1.431B ▼
Q4-2024 $4.081M ▼ $2.653B ▲ $1.202B ▼ $1.449B ▲
Q3-2024 $44.495M $2.564B $1.21B $1.353B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $28.877M ▲ $48.927M ▲ $-83.559M ▲ $35.376M ▲ $744K ▲ $48.927M ▲
Q2-2025 $27.955M ▲ $43.759M ▼ $-86.586M ▼ $26.545M ▲ $-16.282M ▼ $43.759M ▼
Q1-2025 $26.186M ▼ $51.56M ▲ $-58.086M ▲ $24.708M ▼ $18.182M ▲ $51.56M ▲
Q4-2024 $26.207M ▲ $33.414M ▼ $-136.153M ▼ $62.325M ▲ $-40.414M ▼ $33.414M ▼
Q3-2024 $25.612M $43.392M $-73.353M $57.289M $27.328M $43.392M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Other
Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Real Estate Operations
Real Estate Operations
 $0 ▲$60.00M ▲$60.00M ▲$70.00M ▲
Restaurant Operations
Restaurant Operations
 $0 ▲$10.00M ▲$10.00M ▲$10.00M ▲
Restaurant
Restaurant
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and operating profits have grown steadily over the past five years, which signals a healthy and expanding property base. Profit margins remain strong, reflecting the efficiency of the triple‑net lease model where tenants handle most property costs. Net income per share, however, has been fairly flat despite higher revenue, suggesting that share issuance, interest costs, or mix of properties may be offsetting some of the growth. Overall, the income statement points to stable, predictable earnings with modest growth rather than rapid acceleration.

Balance Sheet

Balance Sheet The balance sheet shows a larger asset base over time as the company acquires more properties, supported by a solid increase in shareholders’ equity. Debt has also risen, but it appears to be growing in a measured way alongside equity, consistent with a cautious use of leverage typical for a well‑run REIT. Cash on hand is very low, which is normal for this type of business given its focus on distributing income and using credit lines and equity markets for funding. In simple terms, the company looks financially sturdy, with growth funded by a balanced mix of debt and equity rather than aggressive borrowing alone.

Cash Flow

Cash Flow Operating cash flow is positive, stable, and has generally trended higher, which is essential for a dividend‑focused landlord. Free cash flow closely matches operating cash flow because property-level costs are pushed to tenants, so the trust has minimal recurring capital spending. This clean cash generation profile supports ongoing dividends and leaves room to fund selective acquisitions. Overall, cash flow quality looks strong and predictable, a key strength for a net‑lease REIT.

Competitive Edge

Competitive Edge FCPT operates in a niche of single‑tenant, net‑lease properties and has built a portfolio that is both diversified and focused on everyday, often recession‑resistant uses such as restaurants, auto services, and medical retail. Its tenants are largely national or strong regional brands, contributing to very high occupancy and dependable rent streams. The company differentiates itself through disciplined, data‑driven deal selection and a willingness to slow acquisitions when capital costs are unfavorable, which can protect returns over the long run. Access to capital, a conservative mindset, and a resilient tenant mix combine to give FCPT a solid and defensible position within the retail net‑lease segment.

Innovation and R&D

Innovation and R&D While this is not a technology company, FCPT uses a proprietary scorecard system, mapping tools, and deal‑management platforms to evaluate and track properties in a consistent, objective way. Management also monitors its own cost of capital through internal frameworks to decide when to accelerate or pause acquisitions, which is an unusual level of discipline for a property owner. The company is experimenting with advanced analytics and potentially AI to further refine underwriting and portfolio management. ESG considerations are built into due diligence, especially around environmental risks, signaling a structured and forward‑looking approach to risk management rather than ad‑hoc judgment.

Summary

FCPT presents as a steady, income‑oriented real estate platform with gradual revenue and profit growth, strong margins, and very predictable cash flow. Its balance sheet appears robust, with leverage used in a controlled manner and equity steadily building as the portfolio expands. The business model is straightforward—long‑term, triple‑net leases to creditworthy tenants in everyday service sectors—and is supported by a disciplined, data‑driven acquisition process. Innovation here is less about new products and more about using technology, structured frameworks, and ESG oversight to make better, less emotional capital allocation decisions. Overall, the company looks like a conservative, process‑driven REIT focused on stability and incremental growth rather than aggressive expansion.

NEWS

November 26, 2025 · 4:05 PM UTC

FCPT Announces Sale-Leaseback of Two Hawaiian Bros Properties from Stine Enterprises for $5.9 Million

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November 18, 2025 · 4:05 PM UTC

FCPT Announces Acquisition of a Caliber Collision Property for $4.9 Million

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November 17, 2025 · 7:01 PM UTC

FCPT Announces Acquisition via Sale Leaseback of Three Automotive Service Properties for $5.9 Million

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November 10, 2025 · 6:15 PM UTC

FCPT Announces Acquisition of a Five Property Veterinary Clinic Portfolio for $13.8 Million

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November 10, 2025 · 4:05 PM UTC

FCPT Declares Fourth Quarter 2025 Dividend

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