Five Point Holdings LLC Class A Common Shares (FPH)

FairStock Score: 48/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a patient value investor, so I start with the price: $4.38 at the close on 2026-10-13. FairStock calculates a P/E of 6.08 and P/B of 0.37. FairStock's Graham Number is $13.84, giving a 68.35% margin of safety. That is the kind of asset discount Graham liked. The trailing free cash flow is $65.5M, an 8.8% FCF yield. Debt is modest with D/E of 0.20, and Piotroski is 7/9. But I must look at the business, not just the discount. Five Point sells land in California planned communities. Results are lumpy. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $13.4M and net income $10.9M. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $13.0M but net loss was $2.2M. Fiscal Q3 2025 net income was $21.1M. For fiscal year 2025, the year ended 2025-12-31, revenue was $108.2M, down from $236.0M in fiscal year 2024, the year ended 2024-12-31, though net income rose to $71.0M from $68.3M. FairStock calls it a turnaround, returned to profit after a loss within the last three years. FairStock's calculations show mixed quality: ROE 5.99%, ROCE -0.12%, Altman Z 1.64, EV/EBITDA 290.45, and an overall score of 48/100. A wide moat is not obvious. This may be cheap on assets, but the earnings stream is unpredictable and returns on capital are weak. I would want evidence that land values are realizable and that cash flow is durable before trusting the discount.

In plain English: Five Point Holdings designs and develops large mixed-use communities in California and sells land to homebuilders and developers. The business swings between profits and losses, but it has recent profits and sells for a low price compared with the value of its net assets. The stock looks cheap on some asset measures, but its returns are modest and the price is near the low end of its 52-week range.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer