FCPT
Four Corners Property Trust, Inc.
Real Estate • CIK: 0001650132
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Market Cap
$2.37B
P/E (TTM)
21.2x
Rev Growth (TTM)
+9.7%
Net Margin (TTM)
38.2%
FCF Yield (TTM)
8.1%
FCF Margin (TTM)
65.4%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$192M
Q4 '25
$48M-2%
Q3 '25
$49M+12%
FCF Margin
TTM65.4%
Q4 '2563.5%-4%
Sector: 13.8%Top 25%
OCF Margin65.4%
OCF/NI1.71x
CapEx Coverage–
FCF Yield8.1%
FCF Growth (2Y)+11%
Cash Conversion Cycle
8 days
DSO: 6+DIO: 2−DPO: 0
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldEst.
Est.6.2%
Div Yield6.2%
+Est. Buyback1.1%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)6.2%
FCF Payout Ratio76.5%
Free Cash Flow (TTM)$192.3M
Capital Return / FCF74.9%
Est. Dividends Paid (TTM)$147.0M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.11x
8Q: 0.11x
Leverage (1+D/E)
–
Asset & CapEx Efficiency
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $294.1M | $75.7M↑2.0% | $74.1M↑1.8% | $72.8M↑1.9% | $71.5M↑4.6% | $68.3M↑2.3% | $66.8M↑0.5% | $66.5M↑0.0% | $66.5M |
Operating Income | $163.9M | $42.6M↑2.1% | $41.7M↑1.6% | $41.0M↑6.3% | $38.6M↑0.6% | $38.4M↑1.8% | $37.7M↑2.0% | $37.0M↑2.3% | $36.1M |
Net Income | $112.4M | $29.4M↑2.1% | $28.8M↑3.3% | $27.9M↑6.8% | $26.2M↓0.1% | $26.2M↑2.3% | $25.6M↑3.7% | $24.7M↑2.6% | $24.0M |
Operating Cash Flow | $192.3M | $48.0M↓1.8% | $48.9M↑11.8% | $43.8M↓15.1% | $51.6M↑54.3% | $33.4M↓23.0% | $43.4M↑9.4% | $39.7M↑43.6% | $27.6M |
Free Cash Flow | $192.3M | $48.0M↓1.8% | $48.9M↑11.8% | $43.8M↓15.1% | $51.6M↑54.3% | $33.4M↓23.0% | $43.4M↑9.4% | $39.7M↑43.6% | $27.6M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
21.2x
Volatile
8Q: 95.1x-913%
Valuation Lenses
Earnings
21.2x
vs – sector
Cash Flow
12.3x
EV/FCF vs –
Growth-Adj
2.2xPEG
Expensive for growth
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
6.2%
Buyback
–
Total Yield
6.2%
Market Cap$2.37B
EV$2.36B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
100/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)
–
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.71x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle8 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
65/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
9.7%
OpInc Growth YoY
10.9%
EPS Growth YoY
2.8%
FCF 3Y CAGR
10.6%
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
—
Net
38.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+27.2 pts
FCF: 65.4% | Net: 38.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $12.14M
Interest Coverage
–
+Net cash position: $12.14M
Leverage Metrics
Debt-to-Equity
–x
Balance sheet risk & solvency analysis