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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
FRP Holdings, Inc. is a company actively involved in diverse real estate ventures across the United States. Its operations are structured into four distinct divisions: Asset Management, Mining Royalty Lands, Development, and Stabilized Joint Venture. The Asset Management division handles the ownership, leasing, and oversight of commercial properties.
How they make money
FRP Holdings, Inc. operates as a real estate investment and development company. It generates revenue through the ownership, leasing, and management of commercial and industrial properties, the development of land parcels, the operation of multifamily residential communities, and the collection of rents and royalties from mining properties.
Products & services
The company provides real estate services including commercial and industrial property management, multifamily residential leasing, land development, and mining royalty management.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
Property management and maintenance service providers — The company utilizes various third-party vendors for property maintenance, repairs, and operational services at its multifamily and commercial assets.Source
Business relationships & partnerships
Altman Logistics Property, LLC — The company acquired the business operations and development pipeline of Altman Logistics Property, LLC in October 2025, including existing joint venture projects and minority interests in development assets.Source
Strengths
Diversified real estate portfolio across industrial, commercial, and multifamily sectorsSource
Long-term revenue generation from mining royalty land leasesSource
Risks
Fluctuations in occupancy rates and uncollectable revenue in the multifamily segmentSource
Exposure to rising operating costs and property taxesSource
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS turned negative at -0.01 versus 0.03 a year earlier.
Separate recurring operating losses from noncash or one-time charges, and check cash flow rather than interpreting negative EPS as a cash-outflow amount.
Quarterly net income turned from a profit to a loss versus the same quarter last year.
Identify the causes in the interim report and distinguish operating cash use from accounting charges. Prior profitability is not a guarantee of recovery.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
19
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
33
Poor
Financial Strength
29
Business Quality / Moat
40
Management
17
Growth Quality
29
Risk / Durability
66
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
17
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
18/100
Building Historical Record
Model Score 18/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Insider activity signal is favorable
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for FRPH
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can FRPH maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is FRPH's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is FRPH's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What future growth or profitability would be needed to justify FRPH's current valuation?
•What does the current fundamental change risk warning mean for the reliability or interpretation of FRPH's score?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for FRPH
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on FRPH.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Diversified real estate portfolio across industrial, commercial, and multifamily sectors.
+Long-term revenue generation from mining royalty land leases.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Real Estate - Services industry.
−Fluctuations in occupancy rates and uncollectable revenue in the multifamily segment.
−Exposure to rising operating costs and property taxes.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Very Weak19/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
30
Debt Cost1.5%
Debt Reduction YoY-7.7%
Debt / Equity0.45x
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Revenue
Poor
4
Revenue YoY1.2%
Revenue CAGR1.6%
Net Margin0.2%
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Asset
Fair
55
Asset Growth YoY0.9%
Liquidation/Share$23.81
Net Assets/MCap1.37x
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Capital
Poor
1
Earnings Yield0.0%
Buyback Yield0.2%
Debt Cost1.5%
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Management
Poor
17
ROIC1.0%
ROE0.0%
ROA0.0%
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Moat
Weak
40
EPS Growth-26.7%
FCF/Share Growth10.9%
Rev/Share Growth6.4%
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Valuation
Poor
0
Intrinsic Value$0.09
Value Reference$0.06
MOS-20138.1%
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Buffett
Poor
25
Revenue4
Moat40
Valuation0
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MOS
Poor
0
MOS %-20138.1%
Value Reference$0.06
Deep Discount Reference$0.04
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Financial
Poor
12
Interest Coverage2.4x
ROIC1.0%
FCF Yield7.4%
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Master
Poor
10
Financial12
Valuation0
Debt30
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Resilience
Weak
46
Survival Years-395.4 yrs
Current Ratio—
FCF Margin69.3%
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Score Changes
6 historical score records available
Previous Score
18
Sep 24, 2026
Change
+0.1
points
Current Score
19
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets+0.3
Capital0
Management0
Moat0
Valuation0
Buffett+0.1
FRPH increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
9
Projected Change
-9.9 points
Preliminary comparable-period financial changes suggest decline of approximately 9.9 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$43.4M
$42.8M
$41.8M
$41.5M
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Cost of Revenue
$28.2M
$36.1M
$3.4M
$3.6M
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Gross Profit
$15.2M
$6.7M
$38.3M
$37.9M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$10.1M
$0.00
$9.3M
$8.0M
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Operating Expenses
$10.2M
-$304K
$26.6M
$26.2M
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EBITDA
$12.8M
$17.7M
$22.0M
$21.7M
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Operating Income
$5.0M
$7.0M
$11.7M
$11.7M
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Interest Expense
$1.4M
$3.0M
$3.1M
$4.3M
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Income Before Tax
-$729K
$3.8M
$8.5M
$6.4M
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Income Tax Expense
-$168K
$818K
$2.0M
$1.5M
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Net Income
$96K
$3.3M
$6.4M
$5.3M
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Basic EPS
$0.01
$0.17
$0.34
$0.28
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Basic Shares
19.09M
19.11M
18.89M
18.84M
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Diluted Shares
19.09M
19.11M
18.97M
18.92M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
Margins contracted
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included revenue growth. Pressure indicators included EPS growth, cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 2.1%. EPS declined 144.4%. Cash declined 34.1%. Total debt increased 19.0%. Net income margin declined by 7.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
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10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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