NYSE : FCPT
Four Corners Property Trust, Inc. — Financial statements
Real Estate · REIT - Retail · United States
Last price 22.47 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.47B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 283.37M | 262.65M | 237.13M | 219.88M | 193.61M | 172.81M |
| Other Revenue | 32.56M | 31.48M | 30.94M | 30.73M | 29.58M | 26.57M |
| Total Revenue | 315.93M | 294.13M | 268.07M | 250.61M | 223.19M | 199.38M |
| Property Expenses | 44.96M | 43.00M | 40.60M | 40.26M | 35.81M | 29.60M |
| Selling, General & Administrative | 27.86M | 26.84M | 23.79M | 22.68M | 20.04M | 17.65M |
| Depreciation & Amortization | 67.66M | 60.42M | 54.51M | 50.73M | 41.47M | 34.83M |
| Total Operating Expenses | 140.48M | 130.27M | 118.90M | 113.67M | 97.33M | 82.08M |
| Operating Income | 175.45M | 163.86M | 149.17M | 136.94M | 125.87M | 117.30M |
| Interest Expense | -57.41M | -51.87M | -49.23M | -44.61M | -36.41M | -32.55M |
| Other Non-Operating Income | 1.39M | 800.00K | 963.00K | 919.00K | 542.00K | 36.00K |
| EBT Excluding Unusual Items | 119.43M | 112.79M | 100.90M | 93.25M | 90.01M | 84.78M |
| Gain (Loss) on Sale of Assets | 2.34M | 8.14M | 431.00K | |||
| Pretax Income | 119.43M | 112.79M | 100.90M | 95.59M | 98.14M | 85.21M |
| Income Tax Expense | 717.00K | 303.00K | 308.00K | 130.00K | 237.00K | -534.00K |
| Earnings From Continuing Operations | 118.71M | 112.49M | 100.59M | 95.46M | 97.91M | 85.75M |
| Minority Interest in Earnings | -124.00K | -124.00K | -122.00K | -122.00K | -136.00K | -164.00K |
| Net Income | 118.59M | 112.36M | 100.47M | 95.34M | 97.77M | 85.58M |
| Net Income to Common | 118.59M | 112.36M | 100.47M | 95.34M | 97.77M | 85.58M |
| Basic Shares Outstanding | 108.65M | 102.69M | 93.64M | 88.53M | 81.59M | 76.67M |
| Diluted Shares Outstanding | 108.93M | 102.95M | 94.06M | 88.75M | 81.81M | 76.84M |
| EPS (Basic) | 1.09 | 1.09 | 1.07 | 1.08 | 1.20 | 1.12 |
| EPS (Diluted) | 1.09 | 1.09 | 1.07 | 1.07 | 1.20 | 1.11 |
| Dividend Per Share | 1.47 | 1.43 | 1.39 | 1.36 | 1.34 | 1.28 |
| Operating Margin | 55.54% | 55.71% | 55.65% | 54.64% | 56.39% | 58.83% |
| Profit Margin | 37.54% | 38.20% | 37.48% | 38.04% | 43.81% | 42.92% |
| EBITDA | 243.22M | 224.46M | 204.88M | 188.97M | 168.94M | 153.72M |
| EBITDA Margin | 76.98% | 76.31% | 76.43% | 75.41% | 75.69% | 77.10% |
| D&A For Ebitda | 67.77M | 60.60M | 55.71M | 52.03M | 43.07M | 36.43M |
| EBIT | 175.45M | 163.86M | 149.17M | 136.94M | 125.87M | 117.30M |
| EBIT Margin | 55.54% | 55.71% | 55.65% | 54.64% | 56.39% | 58.83% |
| Funds From Operations (FFO) | 185.69M | 172.70M | 154.97M | 143.71M | 131.11M | 120.03M |
| FFO Per Share | 1.70 | 1.68 | 1.65 | 1.62 | 1.60 | 1.56 |
| Adjusted Funds From Operations (AFFO) | 197.61M | 183.41M | 162.75M | 148.71M | 133.98M | 120.13M |
| AFFO Per Share | 1.81 | 1.78 | 1.73 | 1.67 | 1.64 | 1.56 |
| FFO Payout Ratio | 98.87% | 83.37% | 82.67% | 83.30% | 82.02% | 80.73% |
| Effective Tax Rate | 0.60% | 0.27% | 0.30% | 0.14% | 0.24% | |
| Revenue as Reported | 315.93M | 294.13M | 268.07M | 250.61M | 223.19M | 199.38M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 3.03B | 2.70B | 2.44B | 2.23B | 1.97B | 1.75B |
| Cash & Equivalents | 7.20M | 12.14M | 4.08M | 16.32M | 26.30M | 6.30M |
| Accounts Receivable | 78.29M | 77.57M | 72.04M | 67.74M | 63.69M | 56.71M |
| Other Intangible Assets | 147.55M | 115.33M | 109.57M | 103.99M | 90.00M | 79.87M |
| Other Current Assets | 3.11M | 2.96M | 2.96M | 2.78M | 11.18M | 4.68M |
| Trading Asset Securities | 31.00M | 9.38M | 20.73M | 20.95M | 35.28M | 2.59M |
| Deferred Long-Term Tax Assets | 1.85M | 1.68M | 1.45M | 1.25M | 988.00K | 864.00K |
| Other Long-Term Assets | 2.27M | 2.18M | 1.61M | 10.17M | 1.53M | 695.00K |
| Total Assets | 3.30B | 2.92B | 2.65B | 2.45B | 2.20B | 1.90B |
| Current Portion of Long-Term Debt | 125.00M | 155.06M | 150.47M | 52.97M | 9.00K | 7.52M |
| Current Portion of Leases | 184.00K | 721.00K | ||||
| Long-Term Debt | 1.44B | 1.05B | 987.89M | 1.06B | 995.48M | 877.59M |
| Long-Term Leases | 5.09M | 4.90M | 4.11M | 4.64M | 5.14M | 5.62M |
| Accounts Payable | 504.00K | 751.00K | 931.00K | 1.26M | 766.00K | 550.00K |
| Accrued Expenses | 14.26M | 14.91M | 13.01M | 13.22M | 8.34M | 4.90M |
| Other Current Liabilities | 54.94M | 39.57M | 35.36M | 31.54M | 29.06M | 26.66M |
| Long-Term Unearned Revenue | 18.27M | 17.94M | 6.74M | 14.31M | 11.71M | 11.31M |
| Other Long-Term Liabilities | 9.11M | 2.87M | 3.72M | 11.14M | 9.77M | 4.95M |
| Total Liabilities | 1.67B | 1.29B | 1.20B | 1.19B | 1.06B | 939.09M |
| Common Stock | 11.00K | 11.00K | 10.00K | 9.00K | 9.00K | 8.00K |
| Additional Paid-In Capital | 1.76B | 1.71B | 1.48B | 1.26B | 1.10B | 958.74M |
| Retained Earnings | -166.37M | -93.56M | -57.73M | -26.28M | 576.00K | 12.75M |
| Comprehensive Income & Other | 37.53M | 7.67M | 23.63M | 21.98M | 30.94M | -9.82M |
| Total Common Equity | 1.63B | 1.63B | 1.45B | 1.26B | 1.14B | 961.67M |
| Minority Interest | 2.05M | 2.11M | 2.18M | 2.21M | 2.26M | 2.22M |
| Shareholders' Equity | 1.63B | 1.63B | 1.45B | 1.26B | 1.14B | 963.89M |
| Total Liabilities & Equity | 3.30B | 2.92B | 2.65B | 2.45B | 2.20B | 1.90B |
| Total Debt | 1.57B | 1.21B | 1.14B | 1.12B | 1.00B | 890.73M |
| Net Cash (Debt) | -1.54B | -1.19B | -1.12B | -1.08B | -939.05M | -881.83M |
| Net Cash Per Share | -14.10 | -11.59 | -11.88 | -12.20 | -11.48 | -11.48 |
| Filing Date Shares Outstanding | 109.76M | 109.75M | 99.97M | 91.99M | 86.09M | 80.36M |
| Total Common Shares Outstanding | 109.76M | 108.19M | 99.83M | 91.62M | 85.64M | 80.28M |
| Book Value Per Share | 14.84 | 15.05 | 14.51 | 13.73 | 13.27 | 11.98 |
| Tangible Book Value | 1.48B | 1.51B | 1.34B | 1.15B | 1.05B | 881.81M |
| Tangible Book Value Per Share | 13.50 | 13.98 | 13.41 | 12.59 | 12.21 | 10.98 |
| Land | 1.64B | 1.50B | 1.36B | 1.24B | 1.12B | 966.57M |
| Buildings | 2.09B | 1.86B | 1.70B | 1.57B | 1.40B | 1.30B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 118.59M | 112.36M | 100.47M | 95.34M | 97.77M | 85.58M |
| Depreciation & Amortization | 67.77M | 60.60M | 55.71M | 52.03M | 43.07M | 36.43M |
| Other Amortization | 4.33M | 3.98M | 3.44M | 3.00M | 2.66M | 2.89M |
| Gain (Loss) on Sale of Assets | -2.34M | -8.14M | -431.00K | |||
| Asset Writedown | 827.00K | 827.00K | ||||
| Stock-Based Compensation | 9.10M | 8.85M | 6.99M | 6.27M | 4.98M | 3.95M |
| Change in Accounts Receivable | -2.99M | -3.20M | -3.81M | -5.52M | -6.37M | -7.58M |
| Change in Other Net Operating Assets | 3.96M | -2.27M | -10.46M | 5.49M | 6.99M | 30.00K |
| Other Operating Activities | -351.00K | -9.00K | -44.00K | -70.00K | 2.00K | -699.00K |
| Operating Cash Flow | 206.95M | 192.28M | 144.10M | 165.10M | 142.00M | 122.42M |
| Acquisition of Real Estate Assets | -513.93M | -325.50M | -273.02M | -341.07M | -296.27M | -268.39M |
| Sale of Real Estate Assets | 27.77M | 24.99M | 3.34M | |||
| Net Sale / Acq. of Real Estate Assets | -513.93M | -325.50M | -273.02M | -313.30M | -271.28M | -265.05M |
| Other Investing Activities | 250.00K | 250.00K | 100.00K | 508.00K | 384.00K | 129.00K |
| Investing Cash Flow | -513.68M | -325.25M | -272.92M | -312.79M | -270.90M | -264.92M |
| Long-Term Debt Issued | 262.00M | 302.00M | 245.00M | 183.00M | 290.50M | |
| Long-Term Debt Repaid | -192.00M | -278.00M | -129.00M | -64.00M | -164.50M | |
| Net Debt Issued (Repaid) | 359.00M | 70.00M | 24.00M | 116.00M | 119.00M | 126.00M |
| Issuance of Common Stock | 141.58M | 225.23M | 215.91M | 153.40M | 141.83M | 116.51M |
| Repurchase of Common Stock | -1.92M | -3.18M | -2.14M | -2.26M | -1.02M | -3.03M |
| Common Dividends Paid | -183.59M | -143.98M | -128.11M | -119.72M | -107.54M | -96.90M |
| Other Financing Activities | -7.86M | -7.04M | -1.56M | -1.25M | -3.37M | -4.83M |
| Net Cash Flow | 473.00K | 8.06M | -20.70M | -1.51M | 20.00M | -4.76M |
| Levered Free Cash Flow | 168.65M | 143.83M | 127.38M | 131.22M | 99.22M | 94.90M |
| Unlevered Free Cash Flow | 201.08M | 173.10M | 155.55M | 156.79M | 119.86M | 112.88M |
| Cash Interest Paid | 56.46M | 57.94M | 59.15M | 49.49M | 30.70M | 22.75M |
| Cash Income Tax Paid | 572.00K | 564.00K | 449.00K | 369.00K | 332.00K | 314.00K |
| Change in Working Capital | 6.69M | 5.67M | -22.46M | 10.87M | 1.65M | -5.29M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.47B | 2.45B | 2.63B | 2.29B | 2.18B | 2.27B |
| Enterprise Value | 4.01B | 3.66B | 3.71B | 3.39B | 3.08B | 3.18B |
| Last Close Price | 22.47 | 21.92 | 24.39 | 21.55 | 20.91 | 22.53 |
| Price/FFO Ratio | 12.71 | 13.04 | 14.78 | 13.30 | 13.07 | 14.44 |
| Price/AFFO Ratio | 11.94 | 12.31 | 14.10 | 12.91 | 12.75 | 14.44 |
| PE Ratio | 20.63 | 21.77 | 26.13 | 24.03 | 22.25 | 26.58 |
| PS Ratio | 7.81 | 8.32 | 9.79 | 9.14 | 9.75 | 11.41 |
| PB Ratio | 1.51 | 1.50 | 1.81 | 1.82 | 1.91 | 2.36 |
| P/OCF Ratio | 11.93 | 12.72 | 18.22 | 13.88 | 15.32 | 18.58 |
| EV/Sales Ratio | 12.68 | 12.43 | 13.85 | 13.52 | 13.78 | 15.94 |
| EV/EBITDA Ratio | 16.47 | 16.29 | 18.12 | 17.93 | 18.21 | 20.67 |
| EV/EBIT Ratio | 22.83 | 22.32 | 24.89 | 24.74 | 24.44 | 27.09 |
| Debt / Equity Ratio | 0.96 | 0.74 | 0.79 | 0.89 | 0.88 | 0.92 |
| Debt / EBITDA Ratio | 6.45 | 5.39 | 5.55 | 5.90 | 5.89 | 5.76 |
| Net Debt / Equity Ratio | 0.94 | 0.73 | 0.77 | 0.86 | 0.82 | 0.92 |
| Net Debt / EBITDA Ratio | 6.32 | 5.32 | 5.46 | 5.73 | 5.56 | 5.74 |
| Asset Turnover | 0.10 | 0.11 | 0.10 | 0.11 | 0.11 | 0.11 |
| Inventory Turnover | 225.37 | 184.16 | 176.90 | 157.25 | 136.16 | 136.11 |
| Quick Ratio | 0.60 | 0.47 | 0.48 | 1.06 | 3.28 | 1.66 |
| Current Ratio | 0.61 | 0.48 | 0.50 | 1.09 | 3.57 | 1.77 |
| Return on Equity (ROE) | 7.50% | 7.30% | 7.42% | 7.96% | 9.31% | 9.48% |
| Return on Assets (ROA) | 3.57% | 3.67% | 3.65% | 3.68% | 3.84% | 4.11% |
| Return on Invested Capital (ROIC) | 5.73% | 6.01% | 5.98% | 6.05% | 6.29% | 6.75% |
| Earnings Yield | 4.85% | 4.59% | 3.83% | 4.16% | 4.50% | 3.76% |
| Dividend Yield | 6.76% | 6.33% | 5.29% | 5.46% | 5.27% | 4.54% |
| Payout Ratio | 135.77% | 128.14% | 127.50% | 125.57% | 109.99% | 113.23% |
| Buyback Yield / Dilution | -8.28% | -9.45% | -5.99% | -8.48% | -6.47% | -7.30% |
| Total Shareholder Return | -1.53% | -3.11% | -0.71% | -3.02% | -1.20% | -2.77% |