Four Corners Property Trust, Inc. FCPT

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

The Company was incorporated in Maryland in July 2015. The Company was formed as a wholly owned subsidiary of Darden Restaurants, Inc. ("Darden") and became an independent publicly traded company four months later following the completion of its separation from Darden in November 2015.

We are a real estate investment trust ("REIT") which owns, acquires and leases properties for use in the restaurant and retail industries. Substantially all of our business is conducted through Four Corners Operating Partnership, LP ("FCPT OP"), a Delaware limited partnership of which we are a majority limited partner and our wholly owned subsidiary, Four Corners GP, LLC ("FCPT GP"), is its sole general partner. We believe that we have operated in conformity with the requirements for qualification and taxation as a REIT for the taxable year ended December 31, 2025, and we intend to continue to operate in a manner that will enable us to maintain our qualification as a REIT.

Last close 22.15 2026-10-23
Market cap $2.43B 2026-06-30 share count
52-week range 20.86 - 26.86

Valuation FY2025 figures against the last close

P/S77.2x
P/E20.3x
P/FCF12.6x
EV/EBITDA—
Dividend yield5.9%
Diluted EPS1.09

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $31.5M$30.9M$30.7M$29.6M$26.6M$16.2M$160.2M$143.6M$133.2M$124.0M
SG&A $26.8M$23.8M$22.7M$20.0M$17.6M$15.0M$13.9M$13.2M$12.0M$11.0M
Total operating expenses $130.3M$118.9M$113.7M$97.3M$82.1M$64.1M$61.5M$56.5M$52.7M$64.2M
Interest expense $51.9M$49.2M$44.6M$36.4M$32.6M$29.2M$26.5M$20.0M$19.5M$14.8M
Pre-tax income $112.8M$100.9M$95.6M$98.1M$86.3M$77.6M$72.9M$83.2M$71.9M$76.5M
Income tax $303.0K$308.0K$130.0K$237.0K$534.0K$247.0K$265.0K$262.0K$18.0K$80.3M
Net income $112.5M$100.6M$95.5M$97.9M$85.7M$77.3M$72.6M$82.4M$71.4M$156.8M
EPS, basic 1.091.071.081.201.121.081.061.291.182.75
EPS, diluted 1.091.071.071.201.111.081.061.281.182.63
Shares, diluted (wtd. avg.) 102.9M94.1M88.7M81.8M76.8M71.6M68.6M64.4M60.7M59.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $12.1M$4.1M$16.3M$26.3M$6.3M$11.1M$5.1M$93.2M$69.4M$26.6M
Inventory $246.0K$221.0K$238.0K$274.0K$252.0K$183.0K$196.0K$183.0K$186.0K$202.0K
Other intangibles $129.4M$123.6M$118.0M$106.2M$104.3M$96.3M$57.9M$19.0M$3.8M$1.8M
Total assets $2.92B$2.65B$2.45B$2.20B$1.90B$1.67B$1.45B$1.34B$1.07B$937.2M
Long-term debt $1.20B$1.14B$1.11B———————
Total liabilities $1.29B$1.20B$1.19B$1.06B$939.1M$823.7M$719.3M$644.1M$546.4M$467.0M
Retained earnings -$93.6M-$57.7M-$26.3M$576.0K$12.8M$26.7M$38.4M$46.0M$36.3M$25.9M
Total equity $1.63B$1.45B$1.26B$1.14B$963.9M$844.5M$726.7M$699.0M$522.3M$470.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $192.3M$144.1M$165.1M$142.0M$122.4M$91.5M$104.7M$80.9M$78.9M$70.9M
Depreciation and amortisation $59.6M$54.5M$50.7M$41.5M$34.8M$29.4M$26.3M$23.9M$21.8M$20.6M
Stock-based compensation $8.9M$7.0M$6.3M$5.0M$3.9M$3.4M$3.6M$4.0M$2.7M$1.6M
Capital expenditure ———$296.3M$268.4M$230.5M$205.2M$268.3M$95.1M$83.3M
Investing cash flow -$325.2M-$272.9M-$312.8M-$270.9M-$264.9M-$229.1M-$207.4M-$247.0M-$80.4M-$59.3M
Financing cash flow $141.0M$108.1M$146.2M$148.9M$137.7M$143.6M$14.5M$190.0M$44.2M-$83.0M
Dividends paid $144.0M$128.1M$119.7M$107.5M$96.9M$86.3M$78.5M$69.5M$58.7M$121.6M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-015137.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50M 100M 150M 200M Revenue, FY2016: 124M Net income, FY2016: 156.8M Revenue, FY2017: 133.2M Net income, FY2017: 71.4M Revenue, FY2018: 143.6M Net income, FY2018: 82.4M Revenue, FY2019: 160.2M Net income, FY2019: 72.6M Revenue, FY2020: 16.2M Net income, FY2020: 77.3M Revenue, FY2021: 26.6M Net income, FY2021: 85.7M Revenue, FY2022: 29.6M Net income, FY2022: 97.9M Revenue, FY2023: 30.7M Net income, FY2023: 95.5M Revenue, FY2024: 30.9M Net income, FY2024: 100.6M Revenue, FY2025: 31.5M Net income, FY2025: 112.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $124.0M $133.2M $143.6M $160.2M $16.2M $26.6M $29.6M $30.7M $30.9M $31.5M
Gross profit — — — — — — — — — —
Net income $156.8M $71.4M $82.4M $72.6M $77.3M $85.7M $97.9M $95.5M $100.6M $112.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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