Four Corners Property Trust (FCPT) Financials

$24.05 -0.01 (-0.04%)

Closing price 03:59 PM Eastern

Extended Trading

$24.04 0.00 (-0.02%)

As of 05:09 PM Eastern

Annual Income Statements for Four Corners Property Trust

This table shows Four Corners Property Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	5.70	157	71	82	73	77	86	98	95	100
Consolidated Net Income / (Loss)	5.70	157	72	83	73	78	86	98	95	101
Net Income / (Loss) Continuing Operations	5.70	157	61	-61	73	78	86	98	95	101
Total Pre-Tax Income	8.64	77	61	-60	73	78	85	98	96	101
Total Revenue	31	-15	-19	-4.69	135	142	167	195	208	220
Net Interest Income / (Expense)	-2.20	-15	-19	-20	-27	-29	-33	-36	-45	-49
Total Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Interest Expense	2.20	15	19	20	27	29	33	36	45	49
Long-Term Debt Interest Expense	-	15	19	20	27	29	33	36	45	49
Total Non-Interest Income	33	0.00	0.32	15	161	171	200	232	253	269
Other Service Charges	-	-	0.32	-	0.94	-	0.04	0.54	-	0.96
Net Realized & Unrealized Capital Gains on Investments	-	-	-	15	21	0.00	27	8.14	2.34	0.00
Other Non-Interest Income	33	-	-	-	140	171	173	223	251	268
Total Non-Interest Expense	23	-75	-80	57	61	64	82	97	114	119
Other Operating Expenses	19	-95	-102	33	35	35	47	56	63	64
Depreciation Expense	3.76	21	22	24	26	29	35	41	51	55
Income Tax Expense	2.94	-80	-0.02	0.26	0.27	0.25	-0.53	0.24	0.13	0.31
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.04	0.50	0.53	0.32	0.24	0.16	0.14	0.12	0.12
Basic Earnings per Share	$0.92	$2.75	$1.18	$1.29	$1.06	$1.08	$1.12	$1.20	$1.08	$1.07
Weighted Average Basic Shares Outstanding	6.21M	56.98M	60.63M	64.04M	68.43M	71.31M	76.67M	81.59M	88.53M	93.64M
Diluted Earnings per Share	$0.91	$2.63	$1.18	$1.28	$1.06	$1.08	$1.11	$1.20	$1.07	$1.07
Weighted Average Diluted Shares Outstanding	6.26M	59.57M	60.70M	64.39M	68.63M	71.61M	76.84M	81.81M	88.75M	94.06M
Weighted Average Basic & Diluted Shares Outstanding	6.20M	57M	60.50M	63.90M	70.18M	76.11M	80.36M	86.09M	91.99M	99.97M
Cash Dividends to Common per Share	-	$0.97	$1.00	$1.11	$1.17	$1.23	$1.29	$1.34	$1.37	$1.39

This table shows Four Corners Property Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	25	23	23	24	24	24	24	25	26	26	26
Consolidated Net Income / (Loss)	25	23	23	24	24	24	24	25	26	26	26
Net Income / (Loss) Continuing Operations	25	23	23	24	24	24	24	25	26	26	26
Total Pre-Tax Income	25	23	23	24	24	25	24	25	26	26	26
Total Revenue	49	49	52	51	53	52	54	54	55	56	59
Net Interest Income / (Expense)	-9.18	-9.82	-9.92	-10	-12	-12	-12	-12	-12	-12	-13
Total Interest Income	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Interest Expense	9.18	9.82	9.92	10	12	12	12	12	12	12	13
Long-Term Debt Interest Expense	9.18	9.82	9.92	10	12	12	12	12	12	12	13
Total Non-Interest Income	58	58	62	61	65	65	67	67	67	69	72
Other Service Charges	-	-	0.30	0.23	0.28	-	0.24	0.15	0.33	0.24	0.39
Other Non-Interest Income	56	57	60	61	65	65	66	66	67	68	71
Total Non-Interest Expense	24	25	29	27	29	29	30	30	29	30	33
Other Operating Expenses	14	14	17	15	16	15	17	16	15	16	18
Depreciation Expense	11	11	12	12	13	13	13	13	14	14	14
Income Tax Expense	-0.02	0.03	0.05	0.09	-0.09	0.08	0.03	0.09	0.09	0.11	0.06
Net Income / (Loss) Attributable to Noncontrolling Interest	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Basic Earnings per Share	$0.30	$0.27	$0.27	$0.27	$0.27	$0.27	$0.26	$0.27	$0.27	$0.27	$0.26
Weighted Average Basic Shares Outstanding	81.88M	81.59M	85.83M	87.37M	90.37M	88.53M	91.72M	91.81M	94.39M	93.64M	99.71M
Diluted Earnings per Share	$0.30	$0.27	$0.27	$0.27	$0.27	$0.26	$0.26	$0.27	$0.27	$0.27	$0.26
Weighted Average Diluted Shares Outstanding	82.12M	81.81M	86.10M	87.56M	90.60M	88.75M	91.93M	91.99M	94.88M	94.06M	100.07M
Weighted Average Basic & Diluted Shares Outstanding	83.89M	86.09M	87.03M	90.57M	90.57M	91.99M	91.99M	92.66M	96.73M	99.97M	100.47M
Cash Dividends to Common per Share	$0.33	$0.34	$0.34	$0.34	$0.34	$0.34	$0.35	$0.35	$0.35	$0.36	$0.36

This table details how cash moves in and out of Four Corners Property Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	98	-71	43	24	-88	5.98	-4.76	20	-1.51	-21
Net Cash From Operating Activities	22	71	79	81	105	91	122	142	165	144
Net Cash From Continuing Operating Activities	22	71	79	81	105	91	122	142	165	144
Net Income / (Loss) Continuing Operations	5.70	157	72	83	73	78	86	98	95	101
Consolidated Net Income / (Loss)	5.70	157	72	83	73	78	86	98	95	101
Depreciation Expense	3.76	21	22	24	26	29	35	41	51	55
Amortization Expense	0.27	1.59	2.14	1.83	2.05	2.13	2.37	2.10	2.31	2.60
Non-Cash Adjustments to Reconcile Net Income	1.32	-96	-8.05	-11	3.76	4.67	4.77	-1.14	5.73	8.86
Changes in Operating Assets and Liabilities, net	11	-12	-8.85	-16	-0.39	-22	-5.30	1.65	11	-22
Net Cash From Investing Activities	-0.56	-59	-80	-247	-207	-229	-265	-271	-313	-273
Net Cash From Continuing Investing Activities	-0.56	-59	-80	-247	-207	-229	-265	-271	-313	-273
Acquisitions	0.00	-0.15	-0.95	-	-2.20	1.46	0.13	0.38	0.51	0.10
Purchase of Investment Securities	-	-	-	-	-	-	-268	-296	-341	-273
Sale and/or Maturity of Investments	0.00	24	16	21	0.00	0.00	3.34	25	28	0.00
Net Cash From Financing Activities	77	-83	44	190	15	144	138	149	146	108
Net Cash From Continuing Financing Activities	77	-83	44	190	15	144	138	149	146	108
Issuance of Debt	400	45	161	125	52	302	291	183	245	302
Issuance of Common Equity	0.00	0.64	32	162	47	152	117	142	153	216
Repayment of Debt	-315	-7.08	-83	-26	0.00	-219	-165	-64	-129	-278
Repurchase of Common Equity	-	-	-	0.00	-3.17	-0.81	0.00	0.00	0.00	0.00
Payment of Dividends	-0.12	-122	-59	-70	-78	-86	-97	-108	-120	-128
Other Financing Activities, Net	-7.96	0.00	-6.95	-0.39	-3.06	-4.01	-7.87	-4.39	-3.51	-3.70
Cash Interest Paid	0.98	13	14	20	26	23	23	31	49	59
Cash Income Taxes Paid	0.00	2.17	0.56	0.47	0.59	0.60	0.31	0.33	0.37	0.45

This table details how cash moves in and out of Four Corners Property Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	15	-10	5.10	-20	5.10	8.48	1.98	-9.60	27	-40	18
Net Cash From Operating Activities	44	33	38	48	43	36	28	40	43	33	52
Net Cash From Continuing Operating Activities	44	33	38	48	43	36	28	40	43	33	52
Net Income / (Loss) Continuing Operations	25	23	23	24	24	24	24	25	26	26	26
Consolidated Net Income / (Loss)	25	23	23	24	24	24	24	25	26	26	26
Depreciation Expense	11	11	12	12	13	13	13	13	14	14	14
Amortization Expense	0.50	0.64	0.56	0.56	0.59	0.59	0.64	0.65	0.65	0.65	0.78
Non-Cash Adjustments to Reconcile Net Income	-0.20	1.17	0.66	1.87	1.50	1.71	2.12	2.21	2.27	2.26	3.19
Changes in Operating Assets and Liabilities, net	8.66	-3.05	1.38	9.74	3.43	-3.67	-13	-1.23	1.26	-9.81	6.97
Net Cash From Investing Activities	-64	-119	-10	-173	-121	-8.38	-16	-47	-73	-136	-58
Net Cash From Continuing Investing Activities	-64	-119	-10	-173	-121	-8.38	-16	-47	-73	-136	-58
Acquisitions	0.18	0.84	-0.98	-0.78	1.72	0.54	0.23	0.18	-0.51	0.21	-0.24
Purchase of Investment Securities	-72	-124	-21	-174	-133	-13	-17	-47	-73	-136	-58
Net Cash From Financing Activities	35	76	-22	105	83	-20	-9.20	-2.31	57	62	25
Net Cash From Continuing Financing Activities	35	76	-22	105	83	-20	-9.20	-2.31	57	62	25
Issuance of Debt	-	30	0.00	15	203	27	119	39	38	106	118
Issuance of Common Equity	62	76	8.91	119	-	25	6.90	2.39	116	91	0.00
Repayment of Debt	-	-	0.00	-	-88	-41	-100	-12	-65	-101	-48
Payment of Dividends	-27	-27	-29	-29	-31	-31	-32	-32	-32	-33	-35
Other Financing Activities, Net	-0.04	-2.20	-2.30	-0.04	-1.14	-0.04	-3.55	-0.04	-0.06	-0.04	-9.93
Cash Interest Paid	4.99	13	7.86	15	9.77	16	13	16	14	15	13
Cash Income Taxes Paid	0.05	-0.03	0.00	0.34	0.01	0.01	0.00	0.38	0.03	0.04	0.02

This table presents Four Corners Property Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	929	937	1,069	1,343	1,446	1,668	1,903	2,199	2,452	2,653
Cash and Due from Banks	98	27	64	92	5.08	11	6.30	26	16	4.08
Trading Account Securities	0.17	0.84	5.00	5.98	1.45	0.76	2.59	35	21	21
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	829	894	966	1,191	1,332	1,498	1,722	1,949	2,210	2,423
Intangible Assets	-	-	3.84	19	58	96	104	106	118	124
Other Assets	2.51	15	29	35	50	63	68	81	85	80
Total Liabilities & Shareholders' Equity	929	937	1,069	1,343	1,446	1,668	1,903	2,199	2,452	2,653
Total Liabilities	488	467	546	644	719	824	939	1,060	1,192	1,202
Short-Term Debt	0.48	-	-	-	5.01	19	-	0.01	2.97	0.47
Other Short-Term Payables	-	15	17	20	21	24	-	29	32	35
Long-Term Debt	392	439	516	616	670	754	878	995	1,113	1,138
Other Long-Term Liabilities	95	14	14	8.66	23	27	61	36	45	29
Total Equity & Noncontrolling Interests	442	470	522	699	727	845	964	1,138	1,260	1,451
Total Preferred & Common Equity	442	470	522	691	721	841	962	1,136	1,258	1,449
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	442	470	522	691	721	841	962	1,136	1,258	1,449
Common Stock	437	439	474	639	686	840	959	1,105	1,262	1,483
Retained Earnings	5.26	26	36	46	38	27	13	0.58	-26	-58
Accumulated Other Comprehensive Income / (Loss)	-0.32	0.21	4.48	5.96	-3.54	-26	-9.82	31	22	24
Noncontrolling Interest	0.00	-	-	7.87	5.69	3.06	2.22	2.26	2.21	2.18

This table presents Four Corners Property Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	2,100	2,198	2,338	2,456	2,463	2,486	2,564	2,711
Cash and Due from Banks	37	31	11	5.68	26	17	44	22
Trading Account Securities	36	28	28	31	24	24	14	15
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	1,846	1,960	2,107	2,206	2,216	2,252	2,307	2,470
Intangible Assets	107	102	114	122	116	114	118	120
Other Assets	72	77	77	89	79	77	79	83
Total Liabilities & Shareholders' Equity	2,100	2,198	2,338	2,456	2,463	2,486	2,564	2,711
Total Liabilities	1,031	1,065	1,083	1,202	1,198	1,225	1,210	1,278
Short-Term Debt	0.00	-	-	0.00	0.61	0.35	7.37	2.99
Other Short-Term Payables	27	-	-	31	32	32	33	35
Long-Term Debt	967	996	1,012	1,126	1,131	1,159	1,132	1,202
Other Long-Term Liabilities	37	68	71	45	35	34	37	38
Total Equity & Noncontrolling Interests	1,069	1,133	1,255	1,254	1,264	1,261	1,355	1,433
Total Preferred & Common Equity	1,066	1,131	1,253	1,251	1,262	1,259	1,353	1,431
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,066	1,131	1,253	1,251	1,262	1,259	1,353	1,431
Common Stock	1,028	1,113	1,234	1,235	1,268	1,272	1,390	1,482
Retained Earnings	6.77	-5.50	-13	-19	-34	-41	-49	-67
Accumulated Other Comprehensive Income / (Loss)	32	23	32	35	28	28	11	15
Noncontrolling Interest	2.27	2.24	2.20	2.24	2.21	2.20	2.17	2.16

This table displays calculated financial ratios and metrics derived from Four Corners Property Trust's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	76.62%	-147.45%	-29.11%	75.51%	2,972.46%	5.24%	18.05%	16.85%	6.58%	5.50%
EBITDA Growth	1,582.07%	547.02%	4.08%	-141.63%	386.05%	7.53%	12.08%	15.78%	4.23%	6.97%
EBIT Growth	7,957.27%	591.69%	2.61%	-199.81%	219.57%	6.07%	9.75%	15.18%	-3.54%	6.58%
NOPAT Growth	7,501.30%	2,050.73%	-49.94%	-169.85%	270.19%	6.11%	10.79%	14.19%	-3.44%	6.40%
Net Income Growth	17,709.38%	2,652.24%	-54.17%	15.35%	-12.05%	6.35%	10.54%	14.19%	-2.50%	5.38%
EPS Growth	0.00%	189.01%	-55.13%	8.47%	-17.19%	1.89%	2.78%	8.11%	-10.83%	0.00%
Operating Cash Flow Growth	2,157.34%	227.01%	11.29%	2.45%	29.41%	-12.63%	33.85%	16.00%	16.27%	-12.72%
Free Cash Flow Firm Growth	-8,932.77%	105.85%	-240.55%	-374.39%	95.66%	-893.54%	-0.46%	-40.22%	24.29%	23.20%
Invested Capital Growth	9,173.41%	8.94%	14.17%	26.70%	6.60%	15.37%	13.88%	15.87%	11.33%	8.99%
Revenue Q/Q Growth	0.00%	-115.06%	-79.21%	65.32%	3,211.06%	4.48%	2.08%	2.16%	2.06%	1.44%
EBITDA Q/Q Growth	0.00%	13.83%	-7.77%	-138.12%	356.67%	5.48%	0.17%	1.44%	2.26%	1.68%
EBIT Q/Q Growth	0.00%	14.88%	-11.53%	-188.68%	206.59%	6.39%	-1.52%	0.15%	1.11%	1.79%
NOPAT Q/Q Growth	0.00%	-5.45%	-11.25%	-161.62%	253.04%	7.26%	-0.77%	-0.85%	0.68%	1.77%
Net Income Q/Q Growth	0.00%	21.00%	-16.34%	3.56%	-3.11%	1.72%	4.16%	-0.85%	1.66%	1.77%
EPS Q/Q Growth	0.00%	0.00%	-15.11%	0.00%	-3.64%	0.93%	1.83%	-2.44%	-0.93%	0.94%
Operating Cash Flow Q/Q Growth	1,660.80%	-2.13%	-0.68%	-4.56%	8.81%	3.02%	1.92%	3.16%	2.29%	-2.03%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	45.47%	-219.34%	90.71%	5.70%	14.62%	-17.27%	41.16%	-617.24%
Invested Capital Q/Q Growth	0.00%	8.29%	0.54%	9.39%	7.50%	6.22%	3.97%	4.82%	-0.18%	3.80%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	40.53%	0.00%	0.00%	0.00%	75.42%	77.06%	73.17%	72.50%	70.90%	71.89%
EBIT Margin	27.65%	0.00%	0.00%	0.00%	54.36%	54.79%	50.94%	50.21%	45.44%	45.91%
Profit (Net Income) Margin	18.24%	0.00%	0.00%	0.00%	54.16%	54.74%	51.26%	50.09%	45.82%	45.77%
Tax Burden Percent	65.94%	205.02%	117.20%	-137.20%	99.64%	99.68%	100.63%	99.76%	99.86%	99.69%
Interest Burden Percent	100.00%	127.97%	100.00%	98.72%	100.00%	100.22%	100.00%	100.00%	100.97%	100.00%
Effective Tax Rate	34.06%	-105.02%	-0.03%	0.00%	0.36%	0.32%	-0.63%	0.24%	0.14%	0.31%
Return on Invested Capital (ROIC)	1.35%	0.00%	0.00%	0.00%	5.37%	5.13%	4.96%	4.93%	4.19%	4.05%
ROIC Less NNEP Spread (ROIC-NNEP)	1.35%	0.00%	0.00%	0.00%	5.37%	5.15%	4.96%	4.93%	4.28%	4.05%
Return on Net Nonoperating Assets (RNNOA)	1.23%	0.00%	0.00%	0.00%	4.86%	4.75%	4.52%	4.39%	3.77%	3.37%
Return on Equity (ROE)	2.58%	34.41%	14.49%	13.58%	10.23%	9.87%	9.48%	9.31%	7.96%	7.42%
Cash Return on Invested Capital (CROIC)	-194.38%	5.50%	-6.93%	-27.20%	-1.02%	-9.14%	-8.02%	-9.78%	-6.53%	-4.55%
Operating Return on Assets (OROA)	1.84%	0.00%	0.00%	0.00%	5.25%	4.99%	4.77%	4.79%	4.07%	3.95%
Return on Assets (ROA)	1.21%	0.00%	0.00%	0.00%	5.23%	4.98%	4.80%	4.77%	4.11%	3.94%
Return on Common Equity (ROCE)	2.58%	34.41%	14.49%	13.49%	10.13%	9.82%	9.46%	9.30%	7.95%	7.41%
Return on Equity Simple (ROE_SIMPLE)	1.29%	33.36%	13.77%	12.00%	10.12%	9.22%	8.92%	8.62%	7.59%	6.94%
Net Operating Profit after Tax (NOPAT)	5.70	123	61	-43	73	77	86	98	95	101
NOPAT Margin	18.24%	0.00%	0.00%	0.00%	54.16%	54.62%	51.26%	50.09%	45.38%	45.77%
Net Nonoperating Expense Percent (NNEP)	0.00%	-8.24%	-2.21%	-22.23%	0.00%	-0.02%	0.00%	0.00%	-0.09%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	72.35%	0.00%	0.00%	0.00%	45.64%	45.21%	49.06%	49.79%	54.56%	54.09%
Earnings before Interest and Taxes (EBIT)	8.64	60	61	-61	73	78	85	98	95	101
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	82	85	-36	102	109	122	142	148	158
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	1.82	2.19	1.93	2.11	2.17	2.07	1.72	1.73	1.81
Price to Tangible Book Value (P/TBV)	0.99	1.82	2.20	1.99	2.30	2.45	2.32	1.90	1.91	1.98
Price to Revenue (P/Rev)	14.04	0.00	0.00	0.00	11.32	12.88	11.88	9.98	10.43	11.94
Price to Earnings (P/E)	76.98	5.46	16.00	16.20	20.99	23.60	23.23	19.96	22.79	26.13
Dividend Yield	0.00%	63.53%	5.37%	5.58%	5.20%	4.96%	5.00%	5.75%	5.69%	5.12%
Earnings Yield	1.30%	18.30%	6.25%	6.17%	4.77%	4.24%	4.31%	5.01%	4.39%	3.83%
Enterprise Value to Invested Capital (EV/IC)	0.88	1.40	1.54	1.42	1.57	1.60	1.55	1.37	1.38	1.45
Enterprise Value to Revenue (EV/Rev)	23.47	0.00	0.00	0.00	16.33	18.27	17.10	14.95	15.71	17.11
Enterprise Value to EBITDA (EV/EBITDA)	57.91	15.49	18.68	0.00	21.66	23.71	23.38	20.63	22.16	23.81
Enterprise Value to EBIT (EV/EBIT)	84.86	21.23	25.98	0.00	30.05	33.35	33.58	29.78	34.58	37.28
Enterprise Value to NOPAT (EV/NOPAT)	128.69	10.35	25.97	0.00	30.16	33.46	33.37	29.86	34.63	37.40
Enterprise Value to Operating Cash Flow (EV/OCF)	33.81	17.89	20.19	23.08	21.01	28.31	23.37	20.59	19.83	26.10
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	26.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.89	0.93	0.99	0.88	0.93	0.91	0.91	0.87	0.89	0.78
Long-Term Debt to Equity	0.89	0.93	0.99	0.88	0.92	0.89	0.91	0.87	0.88	0.78
Financial Leverage	0.91	0.91	0.96	0.93	0.91	0.92	0.91	0.89	0.88	0.83
Leverage Ratio	2.13	2.05	2.02	1.97	1.96	1.98	1.97	1.95	1.94	1.88
Compound Leverage Factor	2.13	2.62	2.02	1.95	1.96	1.99	1.97	1.95	1.96	1.88
Debt to Total Capital	47.07%	48.28%	49.68%	46.84%	48.15%	47.78%	47.66%	46.65%	46.96%	43.97%
Short-Term Debt to Total Capital	0.06%	0.00%	0.00%	0.00%	0.36%	1.16%	0.00%	0.00%	0.12%	0.02%
Long-Term Debt to Total Capital	47.01%	48.28%	49.68%	46.84%	47.80%	46.62%	47.66%	46.65%	46.84%	43.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.60%	0.41%	0.19%	0.12%	0.11%	0.09%	0.08%
Common Equity to Total Capital	52.93%	51.72%	50.32%	52.56%	51.44%	52.03%	52.22%	53.24%	52.94%	55.95%
Debt to EBITDA	31.01	5.36	6.04	-17.35	6.65	7.07	7.17	7.02	7.55	7.20
Net Debt to EBITDA	23.27	5.03	5.29	-14.75	6.60	6.97	7.12	6.84	7.44	7.18
Long-Term Debt to EBITDA	30.97	5.36	6.04	-17.35	6.60	6.90	7.17	7.02	7.53	7.20
Debt to NOPAT	68.92	3.58	8.40	-14.37	9.25	9.98	10.23	10.17	11.80	11.32
Net Debt to NOPAT	51.71	3.36	7.35	-12.22	9.18	9.84	10.16	9.90	11.63	11.28
Long-Term Debt to NOPAT	68.84	3.58	8.40	-14.37	9.18	9.74	10.23	10.17	11.77	11.31
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.64%	0.95%	0.56%	0.29%	0.21%	0.19%	0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-820	48	-67	-320	-14	-138	-139	-194	-147	-113
Operating Cash Flow to CapEx	3,901.62%	85.20%	83.00%	30.15%	51.02%	39.67%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-372.09	3.24	-3.46	-16.03	-0.52	-4.72	-4.26	-5.34	-3.30	-2.30
Operating Cash Flow to Interest Expense	9.85	4.78	4.05	4.05	3.95	3.13	3.76	3.90	3.70	2.93
Operating Cash Flow Less CapEx to Interest Expense	9.59	-0.83	-0.83	-9.39	-3.79	-4.76	3.76	3.90	3.70	2.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.07	0.00	0.00	0.00	0.10	0.09	0.09	0.10	0.09	0.09
Fixed Asset Turnover	0.07	0.00	0.00	0.00	0.11	0.10	0.10	0.11	0.10	0.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	834	909	1,038	1,315	1,402	1,617	1,841	2,134	2,376	2,589
Invested Capital Turnover	0.07	0.00	0.00	0.00	0.10	0.09	0.10	0.10	0.09	0.09
Increase / (Decrease) in Invested Capital	825	75	129	277	87	215	224	292	242	214
Enterprise Value (EV)	733	1,269	1,594	1,867	2,199	2,590	2,861	2,923	3,274	3,762
Market Capitalization	439	857	1,143	1,335	1,524	1,825	1,988	1,952	2,172	2,625
Book Value per Share	$10.33	$7.85	$8.53	$10.20	$10.46	$11.46	$12.43	$13.54	$13.89	$14.98
Tangible Book Value per Share	$10.33	$7.85	$8.47	$9.92	$9.62	$10.15	$11.08	$12.28	$12.58	$13.70
Total Capital	834	909	1,038	1,315	1,402	1,617	1,841	2,134	2,376	2,589
Total Debt	393	439	516	616	675	773	878	995	1,116	1,138
Total Long-Term Debt	392	439	516	616	670	754	878	995	1,113	1,138
Net Debt	295	412	451	524	670	762	871	969	1,099	1,134
Capital Expenditures (CapEx)	0.56	83	95	268	205	231	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	-34	-11	-126	0.00	-0.17	0.00	0.00	-0.92	0.00
Net Nonoperating Obligations (NNO)	393	439	516	616	675	773	878	995	1,116	1,138
Total Depreciation and Amortization (D&A)	4.02	22	24	26	28	32	37	44	53	57
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.92	$2.75	$1.18	$1.29	$1.06	$0.00	$1.12	$1.20	$1.08	$1.07
Adjusted Weighted Average Basic Shares Outstanding	6.21M	56.98M	60.63M	64.04M	68.43M	0.00	76.67M	81.59M	88.53M	93.64M
Adjusted Diluted Earnings per Share	$0.91	$2.63	$1.18	$1.28	$1.06	$0.00	$1.11	$1.20	$1.07	$1.07
Adjusted Weighted Average Diluted Shares Outstanding	6.26M	59.57M	60.70M	64.39M	68.63M	0.00	76.84M	81.81M	88.75M	94.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.06	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.83M	59.97M	61.39M	68.35M	70.18M	0.00	80.36M	86.09M	91.99M	99.97M
Normalized Net Operating Profit after Tax (NOPAT)	5.70	42	43	-43	73	77	60	98	95	101
Normalized NOPAT Margin	18.24%	0.00%	0.00%	0.00%	54.16%	54.62%	35.66%	50.09%	45.38%	45.77%
Pre Tax Income Margin	27.65%	0.00%	0.00%	0.00%	54.36%	54.91%	50.94%	50.21%	45.88%	45.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.92	4.03	3.15	-3.07	2.76	2.66	2.62	2.70	2.12	2.05
NOPAT to Interest Expense	2.59	8.27	3.15	-2.15	2.75	2.65	2.63	2.69	2.12	2.04
EBIT Less CapEx to Interest Expense	3.67	-1.58	-1.73	-16.51	-4.98	-5.23	2.62	2.70	2.12	2.05
NOPAT Less CapEx to Interest Expense	2.33	2.65	-1.73	-15.59	-4.99	-5.24	2.63	2.69	2.12	2.04
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	2.14%	77.53%	81.64%	84.35%	107.61%	111.29%	113.01%	109.84%	125.41%	127.35%
Augmented Payout Ratio	2.14%	77.53%	81.64%	84.35%	111.95%	112.34%	113.01%	109.84%	125.41%	127.35%

This table displays calculated financial ratios and metrics derived from Four Corners Property Trust's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.77%	9.29%	12.62%	-2.14%	9.26%	7.54%	4.88%	6.41%	3.07%	7.72%	9.14%
EBITDA Growth	15.83%	6.12%	10.44%	-7.15%	7.52%	7.80%	6.30%	7.36%	4.85%	9.40%	9.20%
EBIT Growth	14.36%	0.66%	3.71%	-16.05%	-1.08%	2.16%	3.87%	4.39%	6.63%	11.39%	10.01%
NOPAT Growth	14.99%	-3.52%	3.90%	-15.94%	-0.80%	6.81%	3.97%	4.43%	5.87%	7.14%	9.87%
Net Income Growth	15.77%	-3.52%	3.90%	-16.03%	-1.47%	6.81%	3.97%	4.43%	5.87%	7.14%	8.77%
EPS Growth	7.14%	-10.00%	-3.57%	-22.86%	-10.00%	-3.70%	-3.70%	0.00%	0.00%	3.85%	0.00%
Operating Cash Flow Growth	25.38%	15.31%	8.97%	56.81%	-2.20%	11.29%	-27.17%	-16.73%	0.62%	-8.22%	86.64%
Free Cash Flow Firm Growth	-5.51%	-34.27%	43.58%	-18.83%	-33.19%	19.36%	-48.43%	54.78%	72.17%	13.73%	11.15%
Invested Capital Growth	14.93%	15.87%	9.61%	15.77%	16.90%	11.33%	12.53%	6.78%	4.82%	8.99%	10.10%
Revenue Q/Q Growth	-6.69%	-0.16%	8.03%	-1.66%	4.17%	-1.73%	2.37%	-0.22%	0.91%	2.70%	5.08%
EBITDA Q/Q Growth	-8.89%	-1.79%	4.87%	0.51%	5.50%	-1.52%	-0.64%	1.52%	3.03%	2.75%	0.97%
EBIT Q/Q Growth	-13.86%	-5.11%	2.76%	2.34%	1.50%	-2.00%	-1.79%	2.85%	3.69%	2.37%	-0.24%
NOPAT Q/Q Growth	-13.34%	-6.10%	1.11%	2.16%	2.27%	1.11%	-1.58%	2.61%	3.68%	2.32%	-0.08%
Net Income Q/Q Growth	-12.84%	-6.73%	1.11%	2.16%	2.27%	1.11%	-1.58%	2.61%	3.68%	2.32%	-0.08%
EPS Q/Q Growth	-14.29%	-10.00%	0.00%	0.00%	0.00%	-3.70%	0.00%	3.85%	0.00%	0.00%	-3.70%
Operating Cash Flow Q/Q Growth	45.13%	-25.81%	15.95%	25.60%	-9.48%	-15.58%	-24.12%	43.62%	9.37%	-23.00%	54.31%
Free Cash Flow Firm Q/Q Growth	-0.11%	-12.20%	39.31%	-74.34%	-12.20%	32.07%	-11.70%	46.89%	30.95%	-110.60%	-15.16%
Invested Capital Q/Q Growth	3.97%	4.82%	-0.22%	6.47%	4.98%	-0.18%	0.85%	1.03%	3.06%	3.80%	1.88%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	72.85%	71.66%	69.26%	70.79%	71.69%	71.84%	70.20%	71.42%	72.92%	72.96%	70.11%
EBIT Margin	50.07%	47.59%	44.71%	46.53%	45.34%	45.21%	44.28%	45.65%	46.90%	46.76%	44.39%
Profit (Net Income) Margin	50.46%	47.14%	44.62%	46.35%	45.50%	46.82%	44.23%	45.49%	46.74%	46.57%	44.28%
Tax Burden Percent	100.09%	99.88%	99.79%	99.62%	100.37%	99.67%	99.89%	99.65%	99.65%	99.60%	99.76%
Interest Burden Percent	100.67%	99.17%	100.00%	100.00%	100.00%	103.89%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	-0.09%	0.12%	0.21%	0.38%	-0.37%	0.33%	0.11%	0.35%	0.35%	0.40%	0.24%
Return on Invested Capital (ROIC)	5.04%	4.64%	4.40%	4.38%	4.21%	4.33%	4.14%	4.17%	4.16%	4.12%	3.95%
ROIC Less NNEP Spread (ROIC-NNEP)	5.06%	4.64%	4.40%	4.38%	4.21%	4.33%	4.14%	4.17%	4.16%	4.12%	3.95%
Return on Net Nonoperating Assets (RNNOA)	4.84%	4.13%	4.10%	3.86%	3.79%	3.81%	3.68%	3.60%	3.61%	3.43%	3.43%
Return on Equity (ROE)	9.87%	8.77%	8.50%	8.24%	8.00%	8.13%	7.82%	7.77%	7.77%	7.55%	7.38%
Cash Return on Invested Capital (CROIC)	-8.71%	-9.78%	-4.32%	-10.15%	-11.33%	-6.53%	-7.53%	-2.40%	-0.65%	-4.55%	-5.54%
Operating Return on Assets (OROA)	4.87%	4.54%	4.28%	4.27%	4.06%	4.05%	4.03%	4.07%	4.05%	4.03%	3.86%
Return on Assets (ROA)	4.90%	4.49%	4.27%	4.26%	4.08%	4.20%	4.02%	4.06%	4.03%	4.01%	3.85%
Return on Common Equity (ROCE)	9.85%	8.75%	8.48%	8.22%	7.98%	8.12%	7.80%	7.76%	7.75%	7.54%	7.37%
Return on Equity Simple (ROE_SIMPLE)	9.26%	0.00%	8.74%	7.52%	7.50%	0.00%	7.64%	7.74%	7.31%	0.00%	7.18%
Net Operating Profit after Tax (NOPAT)	24	23	23	24	24	24	24	25	26	26	26
NOPAT Margin	50.12%	47.14%	44.62%	46.35%	45.50%	46.82%	44.23%	45.49%	46.74%	46.57%	44.28%
Net Nonoperating Expense Percent (NNEP)	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	49.93%	52.41%	55.29%	53.47%	54.66%	54.79%	55.72%	54.35%	53.10%	53.24%	55.61%
Earnings before Interest and Taxes (EBIT)	24	23	23	24	24	24	24	25	26	26	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	35	35	36	36	38	38	38	39	40	41	41
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.68	1.72	1.91	1.67	1.52	1.73	1.73	1.80	2.01	1.81	2.01
Price to Tangible Book Value (P/TBV)	1.86	1.90	2.09	1.83	1.69	1.91	1.91	1.98	2.20	1.98	2.19
Price to Revenue (P/Rev)	9.35	9.98	10.73	10.45	9.33	10.43	10.32	10.55	12.53	11.94	12.77
Price to Earnings (P/E)	18.14	19.96	21.84	22.17	20.31	22.79	22.70	23.32	27.51	26.13	27.97
Dividend Yield	6.06%	5.75%	5.38%	5.64%	6.47%	5.69%	5.68%	5.57%	4.71%	5.12%	4.88%
Earnings Yield	5.51%	5.01%	4.58%	4.51%	4.92%	4.39%	4.41%	4.29%	3.64%	3.83%	3.58%
Enterprise Value to Invested Capital (EV/IC)	1.34	1.37	1.47	1.36	1.27	1.38	1.37	1.41	1.53	1.45	1.54
Enterprise Value to Revenue (EV/Rev)	14.22	14.95	15.55	15.48	14.83	15.71	15.55	15.87	17.60	17.11	18.04
Enterprise Value to EBITDA (EV/EBITDA)	19.48	20.63	21.59	21.79	20.95	22.16	21.82	22.23	24.54	23.81	25.10
Enterprise Value to EBIT (EV/EBIT)	27.77	29.78	31.71	32.90	32.33	34.58	34.13	35.00	38.47	37.28	39.25
Enterprise Value to NOPAT (EV/NOPAT)	27.56	29.86	31.60	32.78	32.24	34.63	34.16	35.03	38.58	37.40	39.47
Enterprise Value to Operating Cash Flow (EV/OCF)	19.77	20.59	21.51	19.03	18.75	19.83	21.27	23.25	25.92	26.10	24.13
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	0.87	0.88	0.81	0.90	0.89	0.90	0.92	0.84	0.78	0.84
Long-Term Debt to Equity	0.90	0.87	0.88	0.81	0.90	0.88	0.89	0.92	0.84	0.78	0.84
Financial Leverage	0.96	0.89	0.93	0.88	0.90	0.88	0.89	0.86	0.87	0.83	0.87
Leverage Ratio	2.02	1.95	1.99	1.94	1.96	1.94	1.94	1.92	1.92	1.88	1.92
Compound Leverage Factor	2.04	1.93	1.99	1.94	1.96	2.01	1.94	1.92	1.92	1.88	1.92
Debt to Total Capital	47.50%	46.65%	46.78%	44.63%	47.32%	46.96%	47.23%	47.88%	45.69%	43.97%	45.68%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.03%	0.01%	0.30%	0.02%	0.11%
Long-Term Debt to Total Capital	47.50%	46.65%	46.78%	44.63%	47.32%	46.84%	47.21%	47.87%	45.39%	43.95%	45.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.11%	0.11%	0.11%	0.10%	0.09%	0.09%	0.09%	0.09%	0.09%	0.08%	0.08%
Common Equity to Total Capital	52.39%	53.24%	53.11%	55.27%	52.59%	52.94%	52.68%	52.03%	54.23%	55.95%	54.24%
Debt to EBITDA	6.92	7.02	6.89	7.13	7.80	7.55	7.50	7.55	7.33	7.20	7.46
Net Debt to EBITDA	6.66	6.84	6.67	7.06	7.76	7.44	7.33	7.44	7.05	7.18	7.32
Long-Term Debt to EBITDA	6.92	7.02	6.89	7.13	7.80	7.53	7.49	7.55	7.29	7.20	7.44
Debt to NOPAT	9.79	10.17	10.08	10.73	11.99	11.80	11.74	11.90	11.53	11.32	11.73
Net Debt to NOPAT	9.42	9.90	9.77	10.61	11.93	11.63	11.47	11.72	11.08	11.28	11.52
Long-Term Debt to NOPAT	9.79	10.17	10.08	10.73	11.99	11.77	11.73	11.89	11.45	11.31	11.70
Noncontrolling Interest Sharing Ratio	0.23%	0.21%	0.21%	0.20%	0.19%	0.19%	0.19%	0.18%	0.17%	0.16%	0.16%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-240	-269	-163	-285	-320	-217	-243	-129	-89	-187	-216
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-26.17	-27.43	-16.49	-28.36	-26.05	-17.58	-19.76	-10.46	-7.22	-15.24	-16.95
Operating Cash Flow to Interest Expense	4.81	3.33	3.82	4.74	3.51	2.95	2.25	3.22	3.52	2.72	4.05
Operating Cash Flow Less CapEx to Interest Expense	4.81	3.33	3.82	4.74	3.51	2.95	2.25	3.22	3.52	2.72	4.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Fixed Asset Turnover	0.11	0.11	0.11	0.10	0.10	0.10	0.10	0.10	0.10	0.09	0.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,036	2,134	2,129	2,267	2,380	2,376	2,396	2,420	2,494	2,589	2,638
Invested Capital Turnover	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09
Increase / (Decrease) in Invested Capital	265	292	187	309	344	242	267	154	115	214	242
Enterprise Value (EV)	2,721	2,923	3,121	3,089	3,027	3,274	3,293	3,413	3,813	3,762	4,054
Market Capitalization	1,789	1,952	2,154	2,087	1,904	2,172	2,185	2,269	2,716	2,625	2,869
Book Value per Share	$13.09	$13.54	$13.13	$14.40	$13.82	$13.89	$13.76	$13.69	$14.60	$14.98	$14.31
Tangible Book Value per Share	$11.78	$12.28	$11.95	$13.08	$12.47	$12.58	$12.50	$12.45	$13.32	$13.70	$13.11
Total Capital	2,036	2,134	2,129	2,267	2,380	2,376	2,396	2,420	2,494	2,589	2,638
Total Debt	967	995	996	1,012	1,126	1,116	1,132	1,159	1,140	1,138	1,205
Total Long-Term Debt	967	995	996	1,012	1,126	1,113	1,131	1,159	1,132	1,138	1,202
Net Debt	930	969	965	1,000	1,120	1,099	1,105	1,142	1,095	1,134	1,183
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	-0.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	967	995	996	1,012	1,126	1,116	1,132	1,159	1,140	1,138	1,205
Total Depreciation and Amortization (D&A)	11	12	13	12	14	14	14	14	14	15	15
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.30	$0.27	$0.27	$0.27	$0.27	$0.27	$0.26	$0.27	$0.27	$0.27	$0.26
Adjusted Weighted Average Basic Shares Outstanding	81.88M	81.59M	85.83M	87.37M	90.37M	88.53M	91.72M	91.81M	94.39M	93.64M	99.71M
Adjusted Diluted Earnings per Share	$0.30	$0.27	$0.27	$0.27	$0.27	$0.26	$0.26	$0.27	$0.27	$0.27	$0.26
Adjusted Weighted Average Diluted Shares Outstanding	82.12M	81.81M	86.10M	87.56M	90.60M	88.75M	91.93M	91.99M	94.88M	94.06M	100.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.89M	86.09M	87.03M	90.57M	90.57M	91.99M	91.99M	92.66M	96.73M	99.97M	100.47M
Normalized Net Operating Profit after Tax (NOPAT)	17	23	23	24	17	24	24	25	26	26	26
Normalized NOPAT Margin	35.05%	47.14%	44.62%	46.35%	31.74%	46.82%	44.23%	45.49%	46.74%	46.57%	44.28%
Pre Tax Income Margin	50.41%	47.19%	44.71%	46.53%	45.34%	46.97%	44.28%	45.65%	46.90%	46.76%	44.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.66	2.35	2.34	2.36	1.96	1.91	1.96	2.01	2.09	2.14	2.06
NOPAT to Interest Expense	2.66	2.33	2.33	2.35	1.97	1.98	1.96	2.00	2.08	2.13	2.06
EBIT Less CapEx to Interest Expense	2.66	2.35	2.34	2.36	1.96	1.91	1.96	2.01	2.09	2.14	2.06
NOPAT Less CapEx to Interest Expense	2.66	2.33	2.33	2.35	1.97	1.98	1.96	2.00	2.08	2.13	2.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	105.75%	109.84%	111.31%	119.33%	124.04%	125.41%	126.78%	127.94%	127.08%	127.35%	128.45%
Augmented Payout Ratio	105.75%	109.84%	111.31%	119.33%	124.04%	125.41%	126.78%	127.94%	127.08%	127.35%	128.45%

Financials Breakdown Chart

Key Financial Trends

Four Corners Property Trust (NYSE: FCPT) has delivered steady financial performance over the past several years, demonstrating a stable income stream and controlled expenses with some notable growth drivers and risks.

Positive trends and factors:

Net income has experienced consistent growth quarter-over-quarter, reaching $26.16 million in Q1 2025 from $23.15 million in Q1 2023, showing durable profitability.
Diluted earnings per share has slightly increased from $0.27 to $0.26 to $0.30 back to $0.26 over the same periods, with a stable share count indicating limited dilution issues.
Total revenue has steadily increased from about $51 million in Q1 2023 to $59.1 million in Q1 2025, driven by rising non-interest income.
Cash flow from operations has grown from approximately $37.9 million in Q1 2023 to $51.6 million in Q1 2025, indicating stronger operating cash generation capability.
Long-term debt levels have increased but remain manageable given the historical earnings and cash flow, supporting potential future investments.
Acquisitions and investments continue regularly, with manageable outflows reflecting ongoing property or asset growth strategies.
The company consistently pays dividends, with slight increases in cash dividends per share from $0.3325 in Q3 2022 to $0.355 in Q1 2025, enhancing shareholder value.

Neutral/Stable observations:

Interest expense has risen moderately over the years (e.g., from ~$9.9 million in Q1 2023 to $12.7 million in Q1 2025) due to increasing debt but remains a normal cost of capital.
Total assets and equity base have grown steadily from about $2.2 billion in early 2023 to $2.7 billion in Q1 2025, reflecting expansion and reinvestment.
The company's debt repayments and issuances balance each other out in most periods, suggesting active debt management but no drastic deleveraging.

Negative trends and potential risks:

Net interest income is negative due to interest expense without corresponding interest income, typical for a REIT funding strategy but increasing financial leverage risk.
Operating expenses and depreciation have risen steadily (e.g., depreciation up from $12.2 million in Q1 2023 to over $14.4 million by Q1 2025), which could pressure margins if not matched by revenue growth.
Cash used in investing activities is substantial, reflecting heavy capital expenditures and purchases of investment securities, which require continuous financing.
Although the company pays out steady dividends, the payout ratio based on net income and cash flow should be monitored closely to assess sustainability.

Summary:

Four Corners Property Trust shows a well-managed balance between growth and financial stability. The company’s steady increase in net income and operating cash flow supports its dividend payments and asset reinvestments. However, rising interest expenses and growing operating costs alongside significant investing cash outflows highlight the need for prudent financial management as the firm scales. Retail investors should keep an eye on the company's debt servicing and dividend sustainability amid expansion plans.

10/08/25 11:48 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Four Corners Property Trust's Financials

When does Four Corners Property Trust's fiscal year end?

According to the most recent income statement we have on file, Four Corners Property Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Four Corners Property Trust's net income changed over the last 9 years?

Four Corners Property Trust's net income appears to be on an upward trend, with a most recent value of $100.60 million in 2024, rising from $5.70 million in 2015. The previous period was $95.46 million in 2023. See Four Corners Property Trust's forecast for analyst expectations on what’s next for the company.

How has Four Corners Property Trust's revenue changed over the last 9 years?

Over the last 9 years, Four Corners Property Trust's total revenue changed from $31.25 million in 2015 to $219.81 million in 2024, a change of 603.3%.

How much debt does Four Corners Property Trust have?

Four Corners Property Trust's total liabilities were at $1.20 billion at the end of 2024, a 0.9% increase from 2023, and a 146.5% increase since 2015.

How much cash does Four Corners Property Trust have?

In the past 9 years, Four Corners Property Trust's cash and equivalents has ranged from $4.08 million in 2024 to $98.07 million in 2015, and is currently $4.08 million as of their latest financial filing in 2024.

How has Four Corners Property Trust's book value per share changed over the last 9 years?

Over the last 9 years, Four Corners Property Trust's book value per share changed from 10.33 in 2015 to 14.98 in 2024, a change of 44.9%.

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This page (NYSE:FCPT) was last updated on 10/8/2025 by MarketBeat.com Staff

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Four Corners Property Trust (FCPT) Financials

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Four Corners Property Trust (FCPT) Financials

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