Latest Ratios: P/E Ratio 144.8x · EV/EBITDA 31.1x · ROE 0.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $472M | $435M | $581M | $595M | $508M | $543M | $438M | $495M | $465M | $444M | $374M |
| Enterprise Value | $559M | $523M | $611M | $616M | $509M | $560M | $454M | $557M | $531M | $558M | $415M |
| P/E Ratio → | 144.76 | 134.06 | 90.09 | 112.29 | 112.21 | 19.27 | 34.52 | 30.38 | 3.74 | 10.64 | 30.90 |
| P/S Ratio | 11.01 | 10.16 | 13.91 | 14.33 | 13.56 | 17.40 | 18.56 | 20.82 | 21.12 | 10.29 | 9.97 |
| P/B Ratio | 1.03 | 0.96 | 1.24 | 1.33 | 1.14 | 1.28 | 1.14 | 1.26 | 1.21 | 1.68 | 1.88 |
| P/FCF | 15.90 | 14.67 | 20.05 | 18.04 | 7.10 | 10.40 | 409.53 | 10.28 | 1.59 | 99.88 | — |
| P/OCF | 15.90 | 14.67 | 20.05 | 18.04 | 22.75 | 24.42 | 23.52 | 10.52 | — | 21.10 | 19.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.20 | 14.63 | 14.84 | 13.59 | 17.94 | 19.24 | 23.44 | 24.12 | 12.92 | 11.07 |
| EV / EBITDA | 31.08 | 29.05 | 27.67 | 27.17 | 26.17 | 36.80 | 40.56 | 46.74 | 21.15 | 79.52 | 16.96 |
| EV / EBIT | 79.54 | 77.46 | 52.53 | 57.51 | 59.06 | 10.63 | 28.30 | 43.37 | 115.85 | 9.36 | 27.97 |
| EV / FCF | — | 17.61 | 21.09 | 18.68 | 7.12 | 10.73 | 424.36 | 11.57 | 1.82 | 125.46 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.7% | 15.7% | 91.8% | 91.2% | 89.0% | 88.0% | 88.0% | 87.6% | 88.1% | 88.4% | 88.1% |
| Operating Margin | 16.4% | 16.4% | 28.0% | 28.2% | 21.3% | 7.3% | 21.8% | 24.2% | 8.9% | 2.4% | 43.7% |
| Net Profit Margin | 7.8% | 7.8% | 15.3% | 12.8% | 12.2% | 90.4% | 53.9% | 68.1% | 565.2% | 96.7% | 32.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.7% | 0.7% | 1.4% | 1.2% | 1.1% | 7.0% | 3.3% | 4.2% | 38.4% | 18.0% | 6.3% |
| ROA | 0.5% | 0.5% | 0.9% | 0.8% | 0.7% | 4.6% | 2.4% | 3.1% | 26.9% | 12.2% | 4.6% |
| ROIC | 1.0% | 1.0% | 1.8% | 1.9% | 1.4% | 0.4% | 0.9% | 1.0% | 0.4% | 0.3% | 5.2% |
| ROCE | 1.0% | 1.0% | 1.7% | 1.7% | 1.2% | 0.4% | 1.0% | 1.1% | 0.4% | 0.3% | 6.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.42 | 0.42 | 0.38 | 0.40 | 0.40 | 0.42 | 0.24 | 0.23 | 0.23 | 0.45 | 0.21 |
| Debt / EBITDA | 10.71 | 10.71 | 8.10 | 7.88 | 9.18 | 11.72 | 8.04 | 7.46 | 3.53 | 16.86 | 1.68 |
| Net Debt / Equity | — | 0.19 | 0.06 | 0.05 | 0.00 | 0.04 | 0.04 | 0.16 | 0.17 | 0.43 | 0.21 |
| Net Debt / EBITDA | 4.85 | 4.85 | 1.37 | 0.93 | 0.05 | 1.11 | 1.42 | 5.23 | 2.64 | 16.21 | 1.68 |
| Debt / FCF | — | 2.94 | 1.04 | 0.64 | 0.01 | 0.32 | 14.84 | 1.30 | 0.23 | 25.58 | — |
| Interest Coverage | 2.27 | 2.27 | 3.69 | 2.48 | 2.83 | 22.86 | 14.57 | 12.18 | 1.48 | 21.76 | 9.50 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 15.45 | 15.93 | 25.34 | 23.18 | — | 40.90 | 51.53 | 1.33 | 0.31 |
| Quick Ratio | — | — | 15.45 | 15.93 | 25.34 | 23.18 | — | 40.90 | 51.53 | 1.33 | 0.31 |
| Cash Ratio | — | — | 15.04 | 15.55 | 24.94 | 22.73 | — | 40.58 | 47.98 | 0.46 | — |
| Asset Turnover | — | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.10 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.7% | 1.1% | 0.9% | 0.9% | 5.2% | 2.9% | 3.3% | 26.8% | 9.4% | 3.2% |
| FCF Yield | 6.3% | 6.8% | 5.0% | 5.5% | 14.1% | 9.6% | 0.2% | 9.7% | 62.7% | 1.0% | — |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.3% | 0.0% | 0.0% | 4.9% | 1.7% | 1.2% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.0% | 0.3% | 0.0% | 0.0% | 4.9% | 1.7% | 1.2% | 0.0% | 0.0% |
| Shares Outstanding | — | $19M | $19M | $19M | $19M | $19M | $19M | $20M | $20M | $20M | $20M |
Accounting-driven earnings volatility
Based on reported figures, FRPH trades at a forward P/E of 20.98 and an EV/EBITDA of 21.04, suggesting that investors are pricing in the long-term value of its permitted mining royalty lands rather than the immediate, accounting-depressed earnings generated by its real estate development pipeline.
The valuation appears elevated relative to traditional real estate peers, likely reflecting the market's recognition of the company's unique, low-overhead royalty stream. Investors should monitor whether the current premium is justified by the eventual monetization of the Brooksville property or if the market is mispricing the company as a standard REIT.
According to recent quarterly data, ROIC has remained consistently low, hovering between 0.1% and 0.5%, which indicates that the company's massive cash position and capital-intensive development projects are currently acting as a drag on the overall efficiency of invested capital across the business segments.
The low ROIC suggests that the company is prioritizing balance sheet safety over aggressive capital deployment. While this conservative approach protects against downside risk, it warrants further investigation into whether management can identify higher-yielding opportunities to improve returns without compromising the company's fortress-like financial position.
As reported in financial statements, FRPH maintains a debt-to-equity ratio of 0.45, a figure that remains remarkably low compared to industry peers, suggesting that the company’s reliance on external financing is minimal and its interest coverage capacity is likely robust even in a high-rate environment.
This minimal leverage profile provides the company with significant optionality to pursue acquisitions or land development during market downturns. The lack of debt service pressure appears to be a structural advantage that differentiates FRPH from more highly levered real estate operators in the Mid-Atlantic region.
The most commonly misapplied ratio for FRPH is the Price-to-Earnings (P/E) multiple, which obscures the company's true earning power by failing to account for non-cash depletion of mining assets and the significant equity in earnings from joint ventures that do not flow through top-line revenue.
Investors should instead focus on Net Asset Value (NAV) and cash-based metrics, as the P/E ratio is heavily distorted by accounting treatments inherent to the real estate development and mining royalty business models. Relying on P/E may lead to an inaccurate assessment of the company's underlying value.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying FRPH stock.
FRP Holdings, Inc.'s current P/E ratio is 144.8x. The historical average is 28.0x. This places it at the 100th percentile of its historical range.
FRP Holdings, Inc.'s current EV/EBITDA is 31.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
FRP Holdings, Inc.'s return on equity (ROE) is 0.7%. The historical average is 7.3%.
Based on historical data, FRP Holdings, Inc. is trading at a P/E of 144.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FRP Holdings, Inc. has 15.7% gross margin and 16.4% operating margin. Operating margin between 10-20% is typical for established companies.
FRP Holdings, Inc.'s Debt/EBITDA ratio is 10.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.