NasdaqGS:FRPH

Stock Analysis Report

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Executive Summary

FRP Holdings, Inc., through its subsidiaries, engages in various real estate businesses in the United States. More Details


Snowflake Analysis

Excellent balance sheet with proven track record.


Similar Companies

Share Price & News

How has FRP Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FRPH has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.02%

FRPH

-2.3%

US Real Estate

-1.1%

US Market


1 Year Return

-21.0%

FRPH

-19.2%

US Real Estate

15.0%

US Market

Return vs Industry: FRPH underperformed the US Real Estate industry which returned -17.7% over the past year.

Return vs Market: FRPH underperformed the US Market which returned 15.6% over the past year.


Shareholder returns

FRPHIndustryMarket
7 Day0.02%-2.3%-1.1%
30 Day-2.5%9.8%2.9%
90 Day4.6%9.8%5.7%
1 Year-21.0%-21.0%-17.0%-19.2%17.6%15.0%
3 Year-7.3%-7.3%-15.2%-21.6%38.9%29.7%
5 Year22.1%22.1%-14.8%-24.2%78.4%58.4%

Price Volatility Vs. Market

How volatile is FRP Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is FRP Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FRPH ($40) is trading below our estimate of fair value ($161.89)

Significantly Below Fair Value: FRPH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FRPH is poor value based on its PE Ratio (38.2x) compared to the US Real Estate industry average (36.9x).

PE vs Market: FRPH is poor value based on its PE Ratio (38.2x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FRPH's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FRPH's PB Ratio (1x) is in line with the US Real Estate industry average.


Next Steps

Future Growth

How is FRP Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

66.2%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as FRP Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has FRP Holdings performed over the past 5 years?

0.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FRPH has a large one-off gain of $3.7M impacting its June 30 2020 financial results.

Growing Profit Margin: FRPH's current net profit margins (51.4%) are higher than last year (34.3%).


Past Earnings Growth Analysis

Earnings Trend: FRPH's earnings have grown by 0.2% per year over the past 5 years.

Accelerating Growth: FRPH's earnings growth over the past year (30.3%) exceeds its 5-year average (0.2% per year).

Earnings vs Industry: FRPH earnings growth over the past year (30.3%) exceeded the Real Estate industry 7.1%.


Return on Equity

High ROE: FRPH's Return on Equity (2.5%) is considered low.


Next Steps

Financial Health

How is FRP Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: FRPH's short term assets ($35.8M) exceed its short term liabilities ($4.8M).

Long Term Liabilities: FRPH's short term assets ($35.8M) do not cover its long term liabilities ($143.5M).


Debt to Equity History and Analysis

Debt Level: FRPH's debt to equity ratio (23.1%) is considered satisfactory.

Reducing Debt: FRPH's debt to equity ratio has reduced from 27.7% to 23.1% over the past 5 years.

Debt Coverage: FRPH's debt is well covered by operating cash flow (53.9%).

Interest Coverage: FRPH earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is FRP Holdings's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FRPH's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FRPH's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FRPH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FRPH's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FRPH's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.5yrs

Average management tenure


CEO

John Baker (71 yo)

3.58yrs

Tenure

US$456,778

Compensation

Mr. John Daniel Baker, II, CPA, serves as Director and Chairman at JEA since April 14, 2020. He has been Chief Executive Officer of FRP Holdings, Inc. since March 13, 2017. Mr. Baker has been Executive Cha ...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD456.78K) is below average for companies of similar size in the US market ($USD1.93M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Baker
Executive Chairman & CEO3.58yrsUS$456.78k15.48%
$ 60.5m
David deVilliers
President5.42yrsUS$745.26k0.082%
$ 320.2k
David deVilliers
EVP and VP of Leasingno dataUS$473.53k0.063%
$ 247.5k
John Baker
CFO & Treasurer1.42yrsno data1.12%
$ 4.4m
John Klopfenstein
Chief Accounting Officer & Controller17.58yrsUS$183.23k0.062%
$ 240.7k
John Milton
Executive VPno dataUS$294.78k0.068%
$ 265.0k
Wallace Patzke
Executive Officerno datano datano data
James Gilstrap
Executive Officerno datano datano data

4.5yrs

Average Tenure

70yo

Average Age

Experienced Management: FRPH's management team is considered experienced (4.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
John Baker
Executive Chairman & CEO3.58yrsUS$456.78k15.48%
$ 60.5m
H. Shad
Independent Director16.17yrsUS$33.00k0.33%
$ 1.3m
William Walton
Independent Director5.58yrsUS$31.00k0.16%
$ 639.7k
Martin Stein
Independent Director28.75yrsUS$27.50k1.99%
$ 7.8m
Charles Commander
Lead Independent Directorno dataUS$34.00k0.37%
$ 1.5m
Margaret Wetherbee
Director1.42yrsUS$84.88k0.59%
$ 2.3m

10.0yrs

Average Tenure

69.5yo

Average Age

Experienced Board: FRPH's board of directors are seasoned and experienced ( 10 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FRPH insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

FRP Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FRP Holdings, Inc.
  • Ticker: FRPH
  • Exchange: NasdaqGS
  • Founded: 1986
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: US$390.526m
  • Shares outstanding: 9.55m
  • Website: https://www.frpholdings.com

Number of Employees


Location

  • FRP Holdings, Inc.
  • 200 West Forsyth Street
  • 7th Floor
  • Jacksonville
  • Florida
  • 32202
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRPHNasdaqGS (Nasdaq Global Select)YesNew Common StockUSUSDJul 1986

Biography

FRP Holdings, Inc., through its subsidiaries, engages in various real estate businesses in the United States. The company operates through four segments: Asset Management, Mining Royalty Lands, Development ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/29 00:03
End of Day Share Price2020/10/28 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.