📊 FCPT Key Takeaways
Is Four Corners Property Trust, Inc. (FCPT) a Good Investment?
Four Corners is a capital-intensive REIT generating strong operating margins (30.7%) but destroying shareholder value through deeply negative free cash flow (-$249.1M) and abysmal returns on capital (ROE 1.8%, ROA 1.0%). The 1.8x interest coverage ratio leaves limited cushion for debt servicing if operational performance deteriorates.
Four Corners Property Trust shows solid underlying profitability, with a strong 38.2% net margin, positive operating cash flow, and modest debt-to-equity for a REIT. However, revenue growth appears low quality because earnings were essentially flat despite the reported surge in revenue, while negative free cash flow, low cash balances, and very weak interest coverage point to tighter financial flexibility.
Why Buy Four Corners Property Trust, Inc. Stock? FCPT Key Strengths
- Strong operating margin of 30.7% demonstrates pricing power
- Moderate leverage with 0.72x Debt/Equity ratio provides reasonable balance sheet flexibility
- Positive operating cash flow of $47.2M from core operations
- Healthy net profitability and positive returns on assets and equity
- Consistently positive operating cash flow supports the core property portfolio
- Debt-to-equity remains reasonable relative to the size of the balance sheet
FCPT Stock Risks: Four Corners Property Trust, Inc. Investment Risks
- Severely negative free cash flow of -$249.1M is unsustainable and indicates capital burn exceeding operating cash generation by 6x
- Interest coverage of only 1.8x provides insufficient cushion to absorb operational disruptions or earnings declines
- Abysmal returns on capital (ROE 1.8%, ROA 1.0%) indicate capital is not being deployed efficiently despite $3.0B in assets
- Minimal cash position of $29.6M relative to $1.2B debt and $296.3M annual CapEx creates refinancing risk
- Unsustainable business model: CapEx requirements ($296.3M) far exceed organic cash generation ($47.2M)
- Interest coverage of 0.5x suggests weak ability to cover financing costs from operating earnings
- Free cash flow is deeply negative due to heavy capital spending, reducing near-term flexibility
- Reported revenue growth is not translating into comparable net income growth, raising growth quality concerns
Key Metrics to Watch
- Free Cash Flow trend - must move to positive territory within 2-3 quarters to demonstrate sustainability
- Interest Coverage Ratio - critical to monitor given current 1.8x level; deterioration below 1.5x is dangerous for debt covenants
- Capital Expenditure levels - verify whether CapEx is normalizing or if $296.3M is the new baseline
- Funds From Operations (FFO) per share - more relevant REIT metric than net income given negative FCF
- Interest coverage improvement and debt service capacity
- Operating cash flow relative to capital expenditures and free cash flow trend
Four Corners Property Trust, Inc. (FCPT) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
FCPT Profit Margin, ROE & Profitability Analysis
FCPT vs Real Estate Sector: How Four Corners Property Trust, Inc. Compares
How Four Corners Property Trust, Inc. compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Four Corners Property Trust, Inc. Stock Overvalued? FCPT Valuation Analysis 2026
Based on fundamental analysis, Four Corners Property Trust, Inc. has mixed fundamental signals relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Four Corners Property Trust, Inc. Balance Sheet: FCPT Debt, Cash & Liquidity
FCPT Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Four Corners Property Trust, Inc.'s revenue has shown modest growth of 6% over the 5-year period. The most recent EPS of $1.07 reflects profitable operations.
FCPT Revenue Growth, EPS Growth & YoY Performance
FCPT Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $8.0M | $26.2M | $0.26 |
| Q3 2025 | $7.5M | $25.6M | $0.27 |
| Q2 2025 | $7.9M | $24.7M | $0.27 |
| Q1 2025 | $7.9M | $24.0M | $0.26 |
| Q3 2024 | $7.5M | $24.2M | $0.27 |
| Q2 2024 | $7.8M | $23.6M | $0.27 |
| Q1 2024 | $7.8M | $23.1M | $0.26 |
| Q3 2023 | $7.3M | $24.2M | $0.27 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Four Corners Property Trust, Inc. Dividends, Buybacks & Capital Allocation
FCPT SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Four Corners Property Trust, Inc. (CIK: 0001650132)
📋 Recent SEC Filings
❓ Frequently Asked Questions about FCPT
What is the AI rating for FCPT?
Four Corners Property Trust, Inc. (FCPT) has a Combined AI Rating of SELL from Claude (SELL) and ChatGPT (HOLD) with 76% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are FCPT's key strengths?
Claude: Strong operating margin of 30.7% demonstrates pricing power. Moderate leverage with 0.72x Debt/Equity ratio provides reasonable balance sheet flexibility. ChatGPT: Healthy net profitability and positive returns on assets and equity. Consistently positive operating cash flow supports the core property portfolio.
What are the risks of investing in FCPT?
Claude: Severely negative free cash flow of -$249.1M is unsustainable and indicates capital burn exceeding operating cash generation by 6x. Interest coverage of only 1.8x provides insufficient cushion to absorb operational disruptions or earnings declines. ChatGPT: Interest coverage of 0.5x suggests weak ability to cover financing costs from operating earnings. Free cash flow is deeply negative due to heavy capital spending, reducing near-term flexibility.
What is FCPT's revenue and growth?
Four Corners Property Trust, Inc. reported revenue of $78.2M.
Does FCPT pay dividends?
Four Corners Property Trust, Inc. pays dividends, with $39.6M distributed to shareholders in the trailing twelve months.
Where can I find FCPT SEC filings?
Official SEC filings for Four Corners Property Trust, Inc. (CIK: 0001650132) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is FCPT's EPS?
Four Corners Property Trust, Inc. has a diluted EPS of $0.28.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is FCPT a good stock to buy right now?
Based on our AI fundamental analysis in May 2026, Four Corners Property Trust, Inc. has a SELL rating with 76% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is FCPT stock overvalued or undervalued?
Valuation metrics for FCPT: ROE of 1.8% (sector avg: 8%), net margin of 38.8% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
Should I buy FCPT stock in 2026?
Our dual AI analysis gives Four Corners Property Trust, Inc. a combined SELL rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is FCPT's free cash flow?
Four Corners Property Trust, Inc.'s operating cash flow is $47.2M, with capital expenditures of $296.3M. FCF margin is -318.7%.
How does FCPT compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 38.8% (avg: 20%), ROE 1.8% (avg: 8%), current ratio N/A (avg: 1.5).