(FCPT) Four Corners Property Trust - Overview
Sector: Real Estate | Industry: REIT - Retail | Exchange: NYSE (USA) | Market Cap: 2.720m USD | Total Return: -1.5% in 12m
Avg Turnover: 17.1M
EPS Trend: 29.8%
Qual. Beats: 0
Rev. Trend: 99.2%
Qual. Beats: 0
Warnings
High Debt/EBITDA (5.1) with thin interest coverage (1.3)
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Altman Z'' 0.11 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Four Corners Property Trust (FCPT) is a Maryland-incorporated real estate investment trust (REIT) headquartered in Mill Valley, California. The company specializes in the ownership and acquisition of restaurant and retail properties, which it manages under a net lease structure.
In a net lease business model, the tenant is typically responsible for property-level operating expenses, including taxes, insurance, and maintenance, which reduces the landlords exposure to rising operational costs. As a specialized REIT, FCPT focuses on high-traffic commercial locations to maintain portfolio stability and occupancy rates.
Investors can evaluate the underlying valuation metrics for this REIT by exploring the data available on ValueRay. The firm continues to expand its portfolio through strategic acquisitions within the domestic restaurant and retail sectors.
- Strategic acquisition volume of net-leased restaurant and retail properties
- Interest rate fluctuations impact cost of capital and investment spreads
- Tenant credit quality and rent coverage ratios within the casual dining sector
- Portfolio diversification efforts to reduce exposure to Darden Restaurants brands
- Consumer discretionary spending trends affecting restaurant operator profitability and lease stability
| Net Income: 116.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 0.17 > 1.0 |
| NWC/Revenue: -16.07% < 20% (prev -12.26%; Δ -3.81% < -1%) |
| CFO/TA 0.06 > 3% & CFO 187.9m > Net Income 116.5m |
| Net Debt (1.19b) to EBITDA (231.4m): 5.13 < 3 |
| Current Ratio: 0.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (109.6m) vs 12m ago 9.48% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 10.62% > 50% (prev 10.07%; Δ 0.55% > 0%) |
| Interest Coverage Ratio: 1.31 > 6 (EBITDA TTM 231.4m / Interest Expense TTM 129.3m) |
| A: -0.02 (Total Current Assets 102.2m - Total Current Liabilities 150.5m) / Total Assets 2.95b |
| B: -0.04 (Retained Earnings -103.3m / Total Assets 2.95b) |
| C: 0.06 (EBIT TTM 169.3m / Avg Total Assets 2.83b) |
| D: -0.07 (Book Value of Equity -91.4m / Total Liabilities 1.29b) |
| Altman-Z'' = 0.11 = B |
| DSRI: 15.22 (Receivables 72.5m/4.33m, Revenue 300.8m/273.1m) |
| GMI: 0.87 (GM 97.97% / 85.07%) |
| AQI: 0.01 (AQ_t 0.01 / AQ_t-1 0.99) |
| SGI: 1.10 (Revenue 300.8m / 273.1m) |
| TATA: -0.02 (NI 116.5m - CFO 187.9m) / TA 2.95b) |
| Beneish M = 8.02 (Cap -4..+1) = D |
As of May 27, 2026, the stock is trading at USD 25.33 with a total of 467,795 shares traded.
Over the past week, the price has changed by +1.81%,
over one month by -0.28%,
over three months by +0.57% and
over the past year by -1.50%.
Four Corners Property Trust has received a consensus analysts rating of 3.78. Therefore, it is recommended to hold FCPT.
- StrongBuy: 3
- Buy: 1
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 28.1 | 11% |
P/E Trailing = 22.3243
P/E Forward = 21.7865
P/S = 9.0405
P/B = 1.6502
Revenue TTM = 300.8m USD
EBIT TTM = 169.3m USD
EBITDA TTM = 231.4m USD
Long Term Debt = 1.20b USD (from longTermDebt, last quarter)
Short Term Debt = 150.5m USD (from shortTermDebt, last quarter)
Debt = 1.22b USD (from shortLongTermDebtTotal, last quarter) + Leases 6.24m
Net Debt = 1.19b USD (calculated: Debt 1.22b - CCE 29.6m)
Enterprise Value = 3.91b USD (2.72b + Debt 1.22b - CCE 29.6m)
Interest Coverage Ratio = 1.31 (Ebit TTM 169.3m / Interest Expense TTM 129.3m)
EV/FCF = 20.80x (Enterprise Value 3.91b / FCF TTM 187.9m)
FCF Yield = 4.81% (FCF TTM 187.9m / Enterprise Value 3.91b)
FCF Margin = 62.46% (FCF TTM 187.9m / Revenue TTM 300.8m)
Net Margin = 38.74% (Net Income TTM 116.5m / Revenue TTM 300.8m)
Gross Margin = unknown ((Revenue TTM 300.8m - Cost of Revenue TTM 6.11m) / Revenue TTM)
Tobins Q-Ratio = 1.32 (Enterprise Value 3.91b / Total Assets 2.95b)
Interest Expense / Debt = 10.62% (Interest Expense 129.3m / Debt 1.22b)
Taxrate = 0.32% (98.0k / 30.2m)
NOPAT = 168.7m (EBIT 169.3m * (1 - 0.32%))
Current Ratio = 0.68 (Total Current Assets 102.2m / Total Current Liabilities 150.5m)
Debt / Equity = 0.73 (Debt 1.22b / totalStockholderEquity, last quarter 1.66b)
Debt / EBITDA = 5.13 (Net Debt 1.19b / EBITDA 231.4m)
Debt / FCF = 6.32 (Net Debt 1.19b / FCF TTM 187.9m)
Total Stockholder Equity = 1.58b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.12% (Net Income 116.5m / Total Assets 2.95b)
RoE = 6.94% (Net Income TTM 116.5m / Total Stockholder Equity 1.68b)
RoCE = 5.87% (EBIT 169.3m / Capital Employed (Equity 1.68b + L.T.Debt 1.20b))
RoIC = 5.72% (NOPAT 168.7m / Invested Capital 2.95b)
WACC = 7.61% (E(2.72b)/V(3.94b) * Re(6.28%) + D(1.22b)/V(3.94b) * Rd(10.62%) * (1-Tc(0.00)))
Discount Rate = 6.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 8.76%
[DCF] Terminal Value 76.86% ; FCFF base≈179.9m ; Y1≈198.3m ; Y5≈253.0m
[DCF] Fair Price = 24.37 (EV 3.86b - Net Debt 1.19b = Equity 2.67b / Shares 109.7m; r=8.35% [WACC [floored]]; 5y FCF grow 11.81% → 2.50% )
EPS Correlation: 29.83 | EPS CAGR: 0.53% | SUE: -0.77 | # QB: 0
Revenue Correlation: 99.17 | Revenue CAGR: 8.71% | SUE: 0.71 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.30 | Chg30d=-0.44% | Revisions=-20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.30 | Chg30d=-0.64% | Revisions=-20% | Analysts=4
EPS current Year (2026-12-31): EPS=1.17 | Chg30d=-0.72% | Revisions=-33% | GrowthEPS=+7.0% | GrowthRev=+6.4%
EPS next Year (2027-12-31): EPS=1.22 | Chg30d=+1.72% | Revisions=+0% | GrowthEPS=+4.9% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: -33%