NYSE:FPH

Stock Analysis Report

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Executive Summary

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. More Details

Rewards

Trading at 98.5% below our estimate of its fair value

Risk Analysis

No risks detected for FPH from our risk checks.


Snowflake Analysis

Fair value with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-3.4%

FPH

10.3%

US Real Estate

1.3%

US Market


1 Year Return

-40.0%

FPH

-19.8%

US Real Estate

15.8%

US Market

Return vs Industry: FPH underperformed the US Real Estate industry which returned -23.4% over the past year.

Return vs Market: FPH underperformed the US Market which returned 13.8% over the past year.


Shareholder returns

FPHIndustryMarket
7 Day-3.4%10.3%1.3%
30 Day-13.3%9.9%-4.1%
90 Day-2.2%9.0%8.4%
1 Year-40.0%-40.0%-17.6%-19.8%18.4%15.8%
3 Year-66.8%-66.8%-15.6%-21.7%38.2%29.0%
5 Yearn/a-15.0%-23.8%84.9%64.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Five Point 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: FPH ($4.5) is trading below our estimate of fair value ($299.11)

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


Price To Earnings Ratio

PE vs Industry: FPH is unprofitable, so we can't compare its PE Ratio to the US Real Estate industry average.

PE vs Market: FPH is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FPH is good value based on its PB Ratio (0.5x) compared to the US Real Estate industry average (1x).


Next Steps

Future Growth

How is Five Point Holdings forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

45.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FPH is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: FPH is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: FPH is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: FPH's revenue is expected to decline over the next 3 years (-34.1% per year).

High Growth Revenue: FPH's revenue is forecast to decline over the next 3 years (-34.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FPH's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Five Point Holdings performed over the past 5 years?

3.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FPH is currently unprofitable.

Growing Profit Margin: FPH is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: FPH is unprofitable, but has reduced losses over the past 5 years at a rate of 3.5% per year.

Accelerating Growth: Unable to compare FPH's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FPH is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (-1.2%).


Return on Equity

High ROE: FPH has a negative Return on Equity (-2.51%), as it is currently unprofitable.


Next Steps

Financial Health

How is Five Point Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: FPH's short term assets ($2.3B) exceed its short term liabilities ($23.7M).

Long Term Liabilities: FPH's short term assets ($2.3B) exceed its long term liabilities ($1.0B).


Debt to Equity History and Analysis

Debt Level: FPH's debt to equity ratio (37.9%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if FPH's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: FPH's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if FPH's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate FPH'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 FPH's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FPH'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 FPH'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?

3.4yrs

Average management tenure


CEO

Emile Haddad (61 yo)

4.33yrs

Tenure

US$8,509,186

Compensation

Mr. Emile K. Haddad has been Chairman, Chief Executive Officer and President at Five Point Holdings, LLC since May 2016. Mr. Haddad serves as Chief Executive Officer and President of FivePoint Communities, ...


CEO Compensation Analysis

Compensation vs Market: Emile's total compensation ($USD8.51M) is above average for companies of similar size in the US market ($USD3.05M).

Compensation vs Earnings: Emile's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Emile Haddad
Chairman4.33yrsUS$8.51m1.81%
$ 11.9m
Erik Higgins
CFO, Treasurer & VP4.33yrsUS$3.26m0.67%
$ 4.4m
Lynn Jochim
COO & VP0.50yrUS$3.76m0.78%
$ 5.1m
Michael Alvarado
Chief Legal Officer4.33yrsUS$3.82m0.77%
$ 5.1m
Steve Churm
Executive Vice President of Public Affairs2.33yrsno datano data
Greg McWilliams
Chief Policy Officer & VP2.5yrsno data0.84%
$ 5.5m
Robert Wetenhall
Executive Vice President of Capital Marketsno datano datano data

3.4yrs

Average Tenure

56yo

Average Age

Experienced Management: FPH's management team is considered experienced (3.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Emile Haddad
Chairman4.33yrsUS$8.51m1.81%
$ 11.9m
Stuart Miller
Director4.33yrsUS$200.00k0.16%
$ 1.0m
Michael Rossi
Lead Independent Directorno dataUS$255.00k0.048%
$ 314.8k
Jonathan Foster
Independent Director4.33yrsUS$220.00k0.048%
$ 314.6k
Michael Winer
Independent Director11.67yrsUS$255.00k0.10%
$ 670.0k
Kathleen Brown
Independent Director4.33yrsUS$240.00k0.048%
$ 314.8k
Evan Carruthers
Independent Director11.67yrsUS$215.00kno data
Gary Hunt
Director4.33yrsUS$200.00k0.071%
$ 471.8k
William Browning
Independent Director4.33yrsUS$240.00k0.039%
$ 256.0k

4.3yrs

Average Tenure

64yo

Average Age

Experienced Board: FPH's board of directors are considered experienced (4.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: FPH insiders have only sold shares 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

Five Point Holdings, LLC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Five Point Holdings, LLC
  • Ticker: FPH
  • Exchange: NYSE
  • Founded: 2009
  • Industry: Diversified Real Estate Activities
  • Sector: Real Estate
  • Implied Market Cap: US$659.997m
  • Market Cap: US$310.862m
  • Shares outstanding: 148.31m
  • Website: https://www.fivepoint.com

Number of Employees


Location

  • Five Point Holdings, LLC
  • 15131 Alton Parkway
  • 4th Floor
  • Irvine
  • California
  • 92618
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FPHNYSE (New York Stock Exchange)YesClass A Common StockUSUSDMay 2017
FP9DB (Deutsche Boerse AG)YesClass A Common StockDEEURMay 2017

Biography

Five Point Holdings, LLC, through its subsidiary, Five Point Operating Company, LP, plans, develops, and owns mixed-use communities in California, the United States. The company operates through four segme ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/28 23:37
End of Day Share Price2020/09/28 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.