FRP Holdings, Inc. — Earnings Quality Grade F
FRPH · Real Estate
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 16 days, change +4 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 2.6%, CFFO 2.4%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
SG&A/Gross Profit = 27.4%, excellent (<30%)
Gross margin 90.9%, change -0.9pp. Stable
Cash Flow Quality
CFFO/NI = 8.91. Profits backed by cash
FCF $0.0B, FCF/NI = 8.91
Accruals ratio = -3.6%. Low accruals
Cash $0.1B covers only 49% of debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 2% of equity. Manageable
Debt/EBITDA = 10.6x (>4x). Financial stress
Other assets 6.4% vs revenue 2.6%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Insufficient data
Manipulation Score
Insufficient data
Portfolio monitoring
Monitor FRPH continuously
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25