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FRP Holdings FRPH Multifamily — Consolidated joint ventures

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RDNTNumberof Unconsolidated Joint Ventures
$120.0%
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ACMCash in consolidated joint ventures
$250.91M-1.5%
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ACMCash in consolidated joint ventures
$250.91M-1.5%
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TMHCInvestments in unconsolidated joint ventures
$6.48M-82.3%
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SBRAInvestments in unconsolidated joint ventures
$0-100%
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SBRAIncome from unconsolidated joint ventures
$1.91M+777%

Other financials

Income statement

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Revenue$11.1M+2.1%
Gross profit$8.2M+0.4%
Operating income$1.5M-11.9%
Net income-$259.0K-145%
EPS (diluted)-$0.01-133%

Balance sheet

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Cash & equivalents$101.0M-34.6%
Total debt$214.6M+19.0%
Total equity$428.9M+0.5%
Total assets$762.3M+5.5%

Cash flow

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Operating cash flow$1.1M-85.4%
CapEx$13.1M+158%
Free cash flow-$12.0M-560%

Valuation

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Market cap$415.45M-16.0%
Enterprise value$529.09M+1.7%
P/E4,327.6×+4,235×
P/S9.6×-2.1×

Profitability

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Gross margin73.7%-1.6pp
Operating margin11.6%-12.0pp
Net margin0.2%-12.4pp
FCF margin-95.1%

Returns & leverage

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Return on equity0%-1.2pp
Debt / equity0.5×+0.1×

Where this comes from

Reported directly by FRP Holdings in its filing.

Tagged under the XBRL concept frph:ConsolidatedJointVentures.

The source filing: FRP Holdings’s 10-K, filed April 15, 2026.

Filed
Apr 15, 2026, 4:01 PM EDT
Fiscal year
FY2025
Accession
0000844059-26-000037

The Multifamily Segment includes joint ventures which own, lease and manage buildings that have met our initial lease-up criteria. Two of our joint ventures in the segment, Riverfront Investment Partners I, LLC (“Dock 79”) and Riverfront Investment Partners II, LLC (“The Maren”) are consolidated.

Item 15(a)(3)

FAQ

What is FRP Holdings's multifamily — consolidated joint ventures?
FRP Holdings (FRPH) reported multifamily — consolidated joint ventures of 2 in Q4 2025.
What does multifamily — consolidated joint ventures mean?
This metric quantifies the financial value of multifamily projects where the company exercises control and consolidates the results into its financial statements. It highlights the company's reliance on joint venture structures to expand its residential footprint while managing risk.

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