Five Point Holdings, LLC (FPH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+319.1%

$17.94

vs $4.28 price

Levered DCF

$1.07

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.5

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	5.53×	3.86×	3.84×	-10.59×	70.78×	-895.08×	20.44×	-13.09×
P/B	0.46×	0.35×	0.31×	0.26×	0.69×	0.59×	0.75×	0.77×
P/S	3.56×	1.1×	1×	3.73×	1.96×	2.36×	2.5×	9.21×
EV / EBITDA	2.18×	1.91×	4.25×	-37.67×	22.68×	-29.71×	-28.94×	-7.85×
Gross margin	40.4%	49.9%	36.7%	-137.8%	35.7%	27.5%	28.9%	41.1%
Operating margin	-6.7%	28.4%	12.4%	-137.8%	1.5%	-26.6%	-27.3%	-160.4%
Net margin	64.5%	28.7%	26.2%	-36.1%	2.9%	-0.3%	4.9%	-70.9%
Current ratio	82.24×	145.64×	10.09×	84.31×	22.46×	18.7×	58.71×	4.43×
Debt / equity	0.61×	0.8×	1.02×	1.13×	1.12×	1.18×	1.22×	0.95×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.4%	9.1%	8.2%	-2.5%	1.0%	-0.1%	1.5%	-5.9%
Return on invested capital	-0.2%	1.9%	1.0%	-2.0%	0.1%	-0.6%	-1.5%	-3.3%
Return on assets	2.2%	2.2%	1.9%	-0.5%	0.2%	-0.0%	0.3%	-1.2%
Free cash flow yield	26.8%	44.0%	72.9%	-118.1%	-18.5%	-22.2%	-50.7%	-76.8%
Earnings yield	18.1%	26.1%	26.2%	-9.7%	1.5%	-0.1%	2.0%	-7.7%
Enterprise value	$482.7M	$429.6M	$549M	$727M	$884M	$794.9M	$859.7M	$512.6M
Net debt / EBITDA	0.41×	0.75×	2.61×	-29.41×	11.37×	-16.16×	-13.42×	-0.94×
Cash conversion cycle (days)	13,714	7,139	5,926	8,690	5,179	6,325	5,309	19,775