0001193125-26-048898
SEC filingFour Corners Property Trust, Inc. (FCPT) reported total revenues of $294.1 million for fiscal year 2025, driven by rental revenue of $262.6 million and restaurant revenue of $31.5 million. The company generated net income of $112.5 million, with net income available to common shareholders of $112.4 million, representing basic and diluted earnings per share of $1.00. Operating performance was supported by net cash provided by operating activities of $192.3 million, though the company used $325.2 million in net cash for investing activities primarily for real estate acquisitions. The balance sheet shows total assets of $2.92 billion with real estate investments net of $2.68 billion, while maintaining total liabilities of $1.29 billion and total equity of $1.63 billion. The company declared dividends of $1.00 per common share and paid $144.0 million in dividends to shareholders during the year.
Four Corners Property Trust, Inc. reported fiscal year 2025 results with total revenues of $294.1 million, consisting of $262.6 million in rental revenue and $31.5 million in restaurant revenue. The company achieved net income of $112.5 million, with net income available to common shareholders of $112.4 million after accounting for $124,000 attributable to noncontrolling interests. Basic and diluted earnings per share were both $1.00, based on weighted average shares outstanding of 102.7 million basic and 102.9 million diluted. Operating expenses totaled $130.3 million, including $26.8 million in general and administrative expenses, $60.4 million in depreciation and amortization, and $43.0 million in other expenses. Interest expense was $51.9 million, while other income contributed $800,000 and income tax expense was $303,000.
The company's revenue streams are primarily derived from rental operations, which generated $262.6 million or approximately 89% of total revenues. Restaurant operations contributed $31.5 million, representing the remaining 11% of revenue. The document does not provide segment breakdowns beyond these two categories, nor does it disclose geographic distribution or specific growth drivers for each revenue stream. The total revenue figure of $294.1 million reflects the combined performance of both rental and restaurant operations without further segmentation or comparative data from prior periods.
Operating income can be calculated as total revenues of $294.1 million minus total operating expenses of $130.3 million, resulting in $163.8 million. This represents an operating margin of approximately 55.7%. The company's cost structure includes significant depreciation and amortization expenses of $60.4 million, which accounted for 46% of total operating expenses. General and administrative expenses of $26.8 million represented 21% of operating expenses, while other expenses of $43.0 million accounted for 33%. Interest expense of $51.9 million reduced pre-tax income, resulting in a net income margin of approximately 38.3%.
Net cash provided by operating activities was $192.3 million, primarily driven by net income of $112.5 million adjusted for non-cash items including $59.6 million in depreciation and amortization. The company used $325.2 million in net cash for investing activities, with $325.5 million spent on purchases of real estate investments. Financing activities provided $141.0 million in net cash, including $225.2 million from ATM equity issuance and $75.0 million from term loan borrowing, partially offset by $144.0 million in dividend payments. The balance sheet shows total assets of $2.92 billion, with real estate investments net of accumulated depreciation totaling $2.68 billion. Total liabilities were $1.29 billion, including $581.9 million in term loan and revolving credit facility and $622.3 million in senior unsecured notes. Total equity stood at $1.63 billion.
The document does not contain management guidance, strategic priorities, or specific forward-looking statements regarding the company's outlook. No risk factors, growth projections, or strategic initiatives are disclosed in the provided financial data. The analysis is limited to the historical financial results for fiscal year 2025 as presented in the XBRL data and document content. Investors should refer to the complete 10-K filing for comprehensive disclosure of management's discussion and analysis, risk factors, and forward-looking statements that are not included in this extracted financial data.