Filing Flows › Five Point Holdings, LLC (FPH) › Q4 2025
Five Point Holdings, LLC (FPH) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
Five Point Holdings, LLC (FPH) reported revenue of $75.9M for the fourth quarter 2025 (Q4 2025), -52% from a year earlier and +463% from the quarter before. Operating margin was 24.9%, net earnings $23.3M (30.7% of revenue).
Five Point Holdings, LLC, Q4 2025: revenue $75.9M (-52% year over year), operating margin 24.9%, net earnings $23.3M, operating cash flow $79.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $75.9M | +463% | -52% |
| Operating profit | $18.9M | — | -62% |
| Net earnings | $23.3M | +11% | -50% |
| Operating cash flow | $79.7M | +97% | -57% |
| Free cash flow | $79.6M | +97% | -57% |
What changed
Revenue was $75.9M in Q4 2025, down 52% year over year and up 463% from the previous quarter. Valencia was the largest line at 56% of revenue.
Operating profit was $18.9M, a 24.9% margin (down 6.4 points year over year). Total costs fell 48% while revenue fell 52%. The fastest-growing cost line was SG&A (+12%). Net earnings were $23.3M, down 50% year over year. The effective tax rate was 13.1%. Non-operating items added $48.6M, 72% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $79.7M (down 57% year over year), 136% of net income including minority interests. Non-cash charges added back $3.5M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $15.4M. Capital expenditures of $119K left free cash flow of $79.6M.
Questions
What was Five Point Holdings, LLC's revenue in the fourth quarter 2025?
Five Point Holdings, LLC (FPH) reported revenue of $75.9M for the fourth quarter 2025 (Q4 2025), -52% from a year earlier and +463% from the quarter before.
Was Five Point Holdings, LLC profitable in the fourth quarter 2025?
Operating profit was $18.9M (24.9% of revenue) and net earnings $23.3M.