FRP Holdings Inc (FRPH) financial statements: income statement, balance sheet and cash flow

FRP Holdings Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), FRP Holdings Inc reported revenue of $42.8M (+2.6% year on year) and net income of $3.3M (-47.8% year on year).

Income statement

FRP Holdings Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Lease revenue	$28.3M	$28.9M	—	—
Mining royalty and rents	$14.4M	$12.9M	$12.5M	$10.7M
Joint venture management fee revenue	$214.0K	—	—	—
Total revenues	$42.8M	$41.8M	$41.5M	$37.5M
Depreciation, depletion and amortization	$11.0M	$10.2M	$10.8M	$11.2M
Operating expenses	$10.3M	$7.2M	$7.4M	$7.1M
Property taxes	$3.9M	$3.4M	$3.6M	$4.1M
General and administrative	$10.7M	$9.3M	—	—
Total cost of operations	$35.8M	$30.1M	$29.8M	$29.5M
Total operating profit	$7.0M	$11.7M	$11.7M	$8.0M
Net investment income	$8.8M	$11.1M	$10.9M	$5.5M
Interest expense	($3.0M)	($3.1M)	($4.3M)	($3.0M)
Equity in loss of joint ventures	($9.1M)	($11.4M)	($11.9M)	($5.7M)
Gain on sale of real estate and other income	$0	$182.0K	$53.0K	$874.0K
Income before income taxes	$3.8M	$8.5M	$6.4M	$5.6M
Provision for income taxes	$818.0K	$2.0M	$1.5M	$1.5M
Net income	$3.0M	$6.5M	$4.9M	$4.0M
(Loss) gain attributable to noncontrolling interest	($368.0K)	$75.0K	($420.0K)	($518.0K)
Net income attributable to the Company	$3.3M	$6.4M	$5.3M	$4.6M
Net income attributable to the Company- Basic (usd per share)	$0.18	$0.34	$0.56	$0.49
Net income attributable to the Company- Diluted (usd per share)	$0.18	$0.34	$0.56	$0.48
Number of shares (in thousands) used in computing basic earnings per common shares (in shares)	19.0M	18.9M	9.4M	9.4M
Number of shares (in thousands) used in computing basic earnings per common shares (in shares)	19.0M	19.0M	9.5M	9.4M

FRP Holdings Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Lease revenue	$6.8M	$6.7M	$7.1M	$7.2M
Mining royalty and rents	$4.1M	$3.7M	$3.7M	$3.6M
Joint venture management fee revenue	$194.0K	$164.0K	—	—
Total revenues	$11.1M	$10.6M	$10.8M	$10.8M
Depreciation/depletion/amortization	$2.9M	$2.8M	$2.8M	$2.7M
Operating expenses	$2.0M	$2.1M	$3.3M	$2.6M
Property taxes	$1.0M	$1.0M	$955.0K	$1.0M
General and administrative	$3.7M	$4.1M	$2.3M	$2.9M
Total cost of operations	$9.6M	$10.1M	$9.4M	$9.2M
Total operating profit	$1.5M	$512.0K	$1.4M	$1.7M
Investment income	$1.2M	$1.7M	$2.4M	$2.3M
Interest expense	($701.0K)	($708.0K)	($739.0K)	($824.0K)
Equity in loss of joint ventures	($2.4M)	($2.6M)	($2.2M)	($2.4M)
Income (loss) before income taxes	($424.0K)	($1.1M)	$768.0K	$802.0K
Provision for income taxes	($80.0K)	($202.0K)	$203.0K	$178.0K
Net income (loss)	($344.0K)	($921.0K)	$565.0K	$624.0K
Income (loss) attributable to noncontrolling interest	($85.0K)	($234.0K)	($97.0K)	$46.0K
Net income (loss) attributable to the Company	($259.0K)	($687.0K)	$662.0K	$578.0K
Net income attributable to the Company- Basic (in dollars per share)	-$0.01	-$0.04	$0.03	$0.03
Net income attributable to the Company- Diluted (in dollars per share)	-$0.01	-$0.04	$0.03	$0.03
Basic earnings per common share (in shares)	19.0M	19.0M	19.0M	19.0M
Diluted earnings per common share (in shares)	19.1M	19.0M	19.0M	19.0M

Balance sheet

FRP Holdings Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Land	$182.9M	$168.9M	$141.6M	$141.6M
Buildings and improvements	$309.1M	$283.4M	$282.6M	$270.6M
Projects under construction	$45.0M	$32.8M	$10.8M	$12.2M
Total investments in properties	$537.1M	$485.1M	$435.1M	$424.4M
Less accumulated depreciation and depletion	$88.6M	$77.7M	$67.8M	$57.2M
Net investments in properties	$448.5M	$407.4M	$367.3M	$367.2M
Real estate held for investment, at cost	$12.6M	$11.7M	$10.7M	$10.2M
Investments in joint ventures	$153.1M	$153.9M	$166.1M	$140.5M
Net real estate investments	$614.3M	$573.1M	$544.0M	$517.9M
Cash, cash equivalents and restricted cash including $11,394 and $1,315 of restricted cash at December 31, 2025 and 2024, respectively	$105.4M	—	—	—
Accounts receivable, net	$1.9M	$1.4M	$1.0M	$1.2M
Federal and state income taxes receivable	$1.1M	$0	$337.0K	$0
Unrealized rents	$1.3M	$1.4M	$1.6M	$856.0K
Deferred costs	$3.8M	$2.1M	$3.1M	$2.3M
Goodwill	$6.9M	—	—	—
Other assets	$662.0K	$622.0K	$589.0K	$560.0K
Total assets	$735.1M	$728.5M	$709.2M	$701.1M
Secured notes payable	$192.6M	$178.9M	$178.7M	$178.6M
Accounts payable and accrued liabilities	$12.1M	$6.0M	$8.3M	$6.0M
Other liabilities	$2.3M	$1.5M	$1.5M	$1.9M
Federal and state income taxes payable	$0	$611.0K	$0	$18.0K
Deferred revenue	$3.4M	$2.4M	$925.0K	$259.0K
Deferred income taxes	$66.9M	$67.7M	$69.5M	$68.0M
Deferred compensation	$1.5M	$1.5M	$1.4M	$1.4M
Tenant security deposits	$689.0K	$805.0K	$875.0K	$868.0K
Total liabilities	$279.5M	$259.4M	$261.2M	$256.9M
Common stock, $.10 par value 25,000,000 shares authorized, 19,109,541 and 19,046,894 shares issued and outstanding, respectively	1.9M	1.9M	948.0K	946.0K
Capital in excess of par value	$71.4M	$68.9M	$67.7M	$65.2M
Retained earnings	$355.2M	$352.3M	$345.9M	$342.3M
Accumulated other comprehensive income, net	$24.0K	$55.0K	$35.0K	($1.3M)
Total shareholders’ equity	$428.5M	$423.1M	$414.5M	$407.1M
Noncontrolling interests	$27.1M	$46.0M	$33.5M	$37.1M
Total equity	$455.7M	$469.1M	$448.0M	$444.2M
Total liabilities and equity	$735.1M	$728.5M	$709.2M	$701.1M

FRP Holdings Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Land	$182.9M	$182.9M	$180.1M	$168.9M
Buildings and improvements	$310.3M	$310.2M	$308.8M	$308.6M
Projects under construction	$75.9M	$57.4M	$29.5M	$16.2M
Total investments in properties	$569.1M	$550.4M	$518.5M	$493.7M
Less accumulated depreciation and depletion	$94.3M	$91.4M	$85.7M	$82.9M
Net investments in properties	$474.8M	$459.0M	$432.7M	$410.7M
Real estate held for investment, at cost	$12.9M	$12.7M	$12.5M	$12.3M
Investments in joint ventures	$158.3M	$155.1M	$143.3M	$139.1M
Net real estate investments	$646.0M	$626.8M	$588.5M	$562.1M
Cash, cash equivalents and restricted cash including $11,570 and $11,394 of restricted cash at June 30, 2026 and December 31, 2025, respectively	$101.0M	$107.9M	—	—
Accounts receivable, net	$1.9M	$1.9M	$1.6M	$1.6M
Federal and state income taxes receivable	$1.4M	$1.3M	$961.0K	$778.0K
Unrealized rents	$1.4M	$1.3M	$1.3M	$1.3M
Deferred costs	$3.1M	$3.6M	$2.5M	$1.9M
Goodwill	$6.9M	$6.9M	—	—
Other assets	$676.0K	$669.0K	$637.0K	$630.0K
Total assets	$762.3M	$750.4M	$731.3M	$722.8M
Notes payable, net	$214.6M	$203.9M	—	—
Accounts payable and accrued liabilities	$17.8M	$17.1M	$9.4M	$6.7M
Other liabilities	$2.5M	$2.4M	$1.5M	$1.5M
Deferred revenue	$3.5M	$3.4M	$3.0M	$2.8M
Deferred income taxes	$66.9M	$66.9M	$67.7M	$67.7M
Deferred compensation	$1.5M	$1.5M	$1.5M	$1.5M
Tenant security deposits	$696.0K	$699.0K	$738.0K	$780.0K
Total liabilities	$307.5M	$296.0M	$269.1M	$261.4M
Common stock, $.10 par value 25,000,000 shares authorized, 19,198,301 and 19,109,541 shares issued and outstanding, respectively	1.9M	1.9M	1.9M	1.9M
Capital in excess of par value	$72.7M	$71.7M	$70.6M	$70.2M
Retained earnings	$354.3M	$354.5M	$355.2M	$354.6M
Accumulated other comprehensive income, net	$26.0K	$8.0K	$32.0K	$40.0K
Total shareholders’ equity	$428.9M	$428.2M	$427.7M	$426.7M
Noncontrolling interests	$25.9M	$26.2M	$34.5M	$34.7M
Total equity	$454.8M	$454.4M	$462.2M	$461.4M
Total liabilities and equity	$762.3M	$750.4M	$731.3M	$722.8M

Cash flow statement

FRP Holdings Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$3.0M	$6.5M	$4.9M	$4.0M
Depreciation, depletion and amortization	$11.4M	$10.4M	$11.0M	$11.5M
Deferred income taxes	($788.0K)	($1.8M)	$1.5M	$1.8M
Equity in loss of joint ventures	$9.1M	$11.4M	$11.9M	$5.7M
Gain on sale of equipment and property	($16.0K)	($209.0K)	($14.0K)	($904.0K)
Stock-based compensation	$2.1M	$2.0M	$1.7M	$1.6M
Accounts receivable	($65.0K)	($306.0K)	$120.0K	($373.0K)
Deferred costs and other assets	($196.0K)	$964.0K	($499.0K)	($2.0M)
Accounts payable and accrued liabilities	$7.0M	($795.0K)	$3.0M	($276.0K)
Income taxes payable and receivable	($1.7M)	$948.0K	($355.0K)	$1.1M
Other long-term liabilities	($58.0K)	($14.0K)	($337.0K)	$130.0K
Net cash provided by operating activities	$29.7M	$29.0M	$33.0M	$22.3M
Investments in properties	($51.1M)	($51.2M)	($11.2M)	($27.6M)
Investments in joint ventures	($20.4M)	($16.4M)	($46.7M)	($21.6M)
Return of capital from investments in joint ventures	$21.3M	$17.2M	$9.2M	$20.8M
Logistics platform business combination, net of cash acquired	($23.5M)	—	—	—
Proceeds from sale of assets	$16.0K	$224.0K	$16.0K	$955.0K
Net cash (used in) provided by investing activities	($73.7M)	($50.6M)	($48.7M)	($23.2M)
Proceeds from long-term debt	$13.9M	—	$0	$0
Debt issue costs	($2.0M)	—	$0	$0
Contribution from noncontrolling interest	$1.2M	$15.7M	—	—
Distribution to noncontrolling interests	($13.4M)	($3.2M)	—	—
Repurchase of Company stock	($464.0K)	$0	($2.0M)	$0
Exercise of employee stock options	231.0K	221.0K	1.0M	412.0K
Net cash (used in) provided by financing activities	($581.0K)	$12.7M	($4.2M)	$16.8M
Net (decrease) in cash, cash equivalents, and restricted cash	($44.6M)	($8.9M)	—	—
Cash, cash equivalents and restricted cash at beginning of year	$149.9M	$157.6M	$177.5M	$161.5M
Cash, cash equivalents and restricted cash at end of the year	$105.4M	—	—	—
Interest, net of amounts capitalized	$2.7M	$3.0M	$4.2M	$2.9M
Income taxes, federal	$3.0M	—	—	—
Income taxes, state	$239.0K	—	—	—
Profits interest equity grant associated with business combination	$344.0K	—	—	—

FRP Holdings Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income (loss)	($1.3M)	($921.0K)	$2.8M	$2.3M
Depreciation, depletion and amortization	$6.1M	$3.0M	$8.6M	$5.6M
Deferred income taxes	$0	$1.0K	($33.0K)	($33.0K)
Equity in loss of joint ventures	$5.0M	$2.6M	$6.6M	$4.4M
Gain on sale of equipment and property	($15.0K)	—	($16.0K)	($16.0K)
Stock-based compensation	$1.4M	$368.0K	$1.7M	$1.3M
Accounts receivable	($69.0K)	($76.0K)	($208.0K)	($234.0K)
Deferred costs and other assets	($161.0K)	($187.0K)	($543.0K)	$106.0K
Accounts payable and accrued liabilities	$34.0K	$5.0M	$3.9M	$1.1M
Income taxes payable and receivable	($283.0K)	($208.0K)	($1.6M)	($1.4M)
Other long-term liabilities	$4.0K	$32.0K	($24.0K)	$4.0K
Net cash provided by operating activities	$10.8M	$9.7M	$21.3M	$13.2M
Investments in properties	($26.6M)	($13.4M)	($34.2M)	($9.2M)
Investments in joint ventures	($16.2M)	($8.4M)	($15.2M)	($6.1M)
Return of capital from investments in joint ventures	$6.2M	$3.9M	$19.2M	$16.5M
Proceeds from the sale of equipment and property	$20.0K	—	$16.0K	$16.0K
Net cash (used in) provided by investing activities	($36.6M)	($17.9M)	($29.8M)	$1.3M
Proceeds from long-term debt	$22.4M	$11.4M	$7.6M	$2.7M
Debt issue costs	$0	$0	($1.4M)	($1.4M)
Distributions to noncontrolling interests	($1.5M)	($821.0K)	($12.6M)	($11.6M)
Contributions from noncontrolling interests	$544.0K	$130.0K	$1.2M	$288.0K
Net cash (used in) provided by financing activities	$21.4M	$10.8M	($5.2M)	($9.9M)
Net increase (decrease) in cash, cash equivalents, and restricted cash	($4.4M)	$2.5M	($13.8M)	$4.5M
Cash, cash equivalents and restricted cash at beginning of year	$105.4M	$105.4M	$148.6M	$148.6M
Cash, cash equivalents and restricted cash at end of the year	$101.0M	$107.9M	—	—
Interest	$1.3M	$663.0K	$2.1M	$1.4M
Income taxes, federal	($17.0K)	$4.0K	—	—
Income taxes, state	$22.0K	$0	—	—
Noncash accounts payable and accrued liabilities related to investment in properties	$5.7M	—	—	—

FRP Holdings Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.