FCPT Four Corners Property Trust, Inc.

Overview and Growth

Fiscal 2025 results for Four Corners Property Trust, Inc. combined $294.13M of revenue with net income of $112.36M and an operating cash inflow of $192.28M. Revenue of $294.13M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 9.7% above fiscal 2024 revenue of $268.07M, marking a year-over-year increase. Diluted earnings per share were $1.09, translating the period’s attributable earnings into the amount reported for each diluted share. Diluted EPS increased by 1.9% from $1.07 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The diluted weighted-average share count was 102.95M, linking total earnings with the per-share result received by shareholders. Diluted shares moved 9.4% from 94.06M in fiscal 2024, leaving the current share base higher year over year. Total assets stood at $2.92B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.1x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After all reported below-operating-line items, the company recorded net income of $112.36M for the fiscal year. Measured against reported revenue, net income produced a 38.2% margin after operating costs and the remaining recognized items. Income tax expense totaled $303.00K, providing the reported tax component that separates pretax and after-tax earnings. Return on period-end equity was 6.9%, relating annual net income to the equity capital on the balance sheet. Net income represented 3.8% of period-end assets, placing the company’s bottom-line result against the total resource base employed. Against $100.47M in fiscal 2024, the current $112.36M bottom line finished above the prior-year result in absolute terms.

Liquidity and Capital Structure

The company held $2.92B of assets against $1.29B of liabilities and $1.63B of equity, revealing how the asset base was financed. Cash and equivalents totaled $12.14M, identifying the most liquid reported component available within the broader current-asset balance. The company carried $1.20B of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 0.74x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 41.2% of total assets, placing borrowing in the context of the company’s full resource base. The equity-to-assets relationship was 55.8%, placing book capital against the total resource base. Relative to total assets, liabilities measured 44.2%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 0.4%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 10.1% higher than fiscal 2024 assets of $2.65B, measuring the company’s own balance-sheet change. Reported equity changed 12.3% from $1.45B in fiscal 2024, placing the current capital base higher year over year. Cash and equivalents were 197.6% higher than fiscal 2024 cash of $4.08M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $192.28M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 1.71x, comparing cash generated by operations with the bottom-line earnings result. The operating cash outcome moved from $144.10M in fiscal 2024 to $192.28M, ending above the prior-year level.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.