FRP Holdings Inc. Common Stock (FRPH)

FairStock Score: 22/100 — RISKY

Key Financials

AI Analysis

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

I look at FRP Holdings as an asset-rich but earnings-poor real estate company. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $11.1 million and net income was a loss of $259,000, or diluted EPS of -$0.01. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $10.6 million and net loss was $687,000. For FY2025, the year ended 2025-12-31, revenue was $42.8 million, net income $3.3 million, and diluted EPS $0.18; that was down from FY2024, ended 2024-12-31, when net income was $6.4 million and diluted EPS $0.34. So the growth trajectory is not impressive. The balance sheet and asset mix are the main attraction. At the 2026-10-13 close of $19.99, FairStock calculations show P/B of 0.89, and FairStock classifies it as an ASSET PLAY because it trades at 0.89× book value. It also shows trailing free cash flow of $28.3 million and a 7.4% FCF yield. Debt/equity is 0.47 and beta is 0.52. But earning power is weak: FairStock shows ROE of -0.12%, ROCE of -0.25%, P/E of 1999, EV/EBITDA of 36.17, Graham Number of $2.24, and margin of safety of -792.41%. Its Piotroski F-Score is 5/9, Altman Z-Score 1.55, and FairStock Score 22/100. I see no clear moat from the reported numbers. The value case rests on real estate assets, mining royalty lands, and development potential, not on current profits. Unless earnings improve, this is a speculative asset play rather than a compounding business.

In plain English: FRP Holdings owns and manages real estate, including commercial buildings, mining royalty land, development land, and apartments. Its latest reported quarters and fiscal 2025 show slow revenue and very thin or negative profits, so the business looks weak on earnings. The stock price is below the accounting value of its net assets, but it is high compared with the small profit the company is currently producing.

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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