Four Corners Property Trust Inc (FCPT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Four Corners Property Trust Inc stock $39.99, price $23.41, upside +70.8%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $17.42 – $26.99 · fair‑value band $15.85 – $72.83 · the $23.41 price screens below the $39.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Four Corners Property Trust, Inc. is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties.
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The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Four Corners Property Trust, Inc is headquartered in Mill Valley, California.
Four Corners Property Trust, Inc. was established on July 02, 2015 and incorporated in Maryland.
Stock analysis
Four Corners Property Trust Inc (FCPT) currently trades at $23.41, while our model-based Fair Value estimate is $39.99, implying the stock looks roughly 41% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $49.91 per share, and 8 of the 15 models we run sit above the $23.41 price.
Bear case: the Asset-Based group reads lowest at $9.15, and 7 of the 15 models stay below the price. Data coverage for this calculation is high.
Scenario range: $15.85 (bear) to $72.83 (bull), the price of $23.41 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Real Estate sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Four Corners Property Trust Inc reported revenue of $294M in FY2025 versus $199M in FY2021, a compound +10.2%/yr. Reported net income was $112M in FY2025, compounding +7.0%/yr from FY2021.
Key figures
Market cap $2.6B Mid · P/E ratio 21.7 · P/S ratio 8.39 · EPS (TTM) $1.08 · Dividend yield 6.2% · Net margin 38.7% · Return on equity 7.7% · Return on assets (EBIT) 5.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −30% fair-value upside, at 71%, FCPT screens cheaper than that median.
Fair Value models
Bear$15.85Fair Value $39.99Bull$72.83
Price $23.41 · Upside +70.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $226,072, on Nov 2, 2026.
BuyWilliam H LenehanPresident and CEO, Director5× since Feb 18, 2026: 35,830 shares, avg. $24.44$875,631Nov 2, 2026
SaleNiccole StewartChief Accounting Officer2,427 shares at $25.97$63,029Mar 13, 2026
SaleToni S SteeleDirector815 shares at $24.49$19,959Feb 17, 2026
Plus 51 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+9.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
Start year 2020 (pandemic). Over 10 years: +24.3% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.2%
Dividend (yield on the price)6.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.0.2% vs 1.8%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.63% → 56%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+10.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+7.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +7.5% a year for the price and +4.8% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Reliable long-term lease renewals with established operators provide income stability yet low returns on capital and rising tenant concentration limit durable competitive strength.
Main risk: Rising dependence on a single restaurant tenant risks hitting rental income stability if that operator encounters operational difficulties.
FCPT has locked in five-year extensions on every one of its 66 Olive Garden and LongHorn leases maturing in 2027, keeping the 1.5 percent annual rent escalators and requiring no landlord concessions. Our models see the stock as undervalued, underscoring the strength of pairing high-quality, low-rent assets with established operators. This move also increases dependence on Darden. Does the proof of reliable renewals outweigh the greater concentration in one restaurant tenant?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Retail · 88 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+70.8% · Top 25%
Profitability
Return on equity (12 months)7.7% · Below median
Return on assets3.9% · Above median
Net margin (12 months)38.7% · Below median
Operating margin (12 months)55.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.7% · Above median
Dividend yield (12 months)6.2% · Above median
Balance sheet
Debt / equity0.74× · Above median
Valuation Multiplesvs REIT - Retail median · lower = cheaper
P/E (12 months)21.7× · Priciest 25%
P/B1.58× · Priciest 25%
P/S (12 months)8.39× · Priciest 25%
Price / free cash flow (fiscal year)13.4× · Cheaper than median
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Is Four Corners Property Trust Inc (FCPT) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $39.99 versus a price of $23.41, about +71% upside (undervalued).
What is the fair value of FCPT?
Our model-based fair value for Four Corners Property Trust Inc is $39.99 (as of Nov 4, 2026), built from audited fundamentals. The current price: $23.41.
What is the quality score of FCPT?
Four Corners Property Trust Inc has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Four Corners Property Trust Inc (FCPT)?
Our model-based price target is the fair value of $39.99 (as of Nov 4, 2026) from 15 valuation models. Cautious scenario $15.85, optimistic scenario $72.83. It is a calculation from audited fundamentals, not an analyst target.
What is the Four Corners Property Trust Inc stock forecast for 2026?
Our models put fair value at $39.99, about +71% upside versus a price of $23.41 (undervalued). Cautious scenario $15.85, optimistic scenario $72.83. The calculation is refreshed regularly with new filings.
What is the revenue of Four Corners Property Trust Inc (FCPT)?
Four Corners Property Trust Inc reported trailing-twelve-month revenue of about $306M (latest available figure, as of Nov 4, 2026).
Does Four Corners Property Trust Inc pay a dividend?
Four Corners Property Trust Inc currently shows a dividend yield of 6.22% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of Four Corners Property Trust Inc (FCPT) and when is the ex-dividend date?
Four Corners Property Trust Inc pays a dividend of $1.46 per share a year, a dividend yield of 6.2%. The last ex-dividend date was Oct 30, 2026. A dividend has been paid every year since at least 2016. The payout ratio is 135% of earnings. Free cash flow covers the dividend 1.20 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Four Corners Property Trust Inc (FCPT)?
For today's price to be fair in a discounted-cash-flow model, Four Corners Property Trust Inc would have to grow free cash flow by +10.1 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of FCPT use?
Our models discount Four Corners Property Trust Inc at 9.3 %: a base by market capitalisation (mid), damped by beta 0.82, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Four Corners Property Trust Inc that is +10.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Four Corners Property Trust Inc (FCPT) delivered so far?
Over the past 5 years revenue at Four Corners Property Trust Inc grew +11.5 % a year. The price currently implies free-cash-flow growth of +10.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Four Corners Property Trust Inc (FCPT) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Four Corners Property Trust Inc (+10.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Four Corners Property Trust Inc (FCPT)?
The free-cash-flow yield on the price is 7.48 %: that much free cash flow Four Corners Property Trust Inc produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Four Corners Property Trust Inc (FCPT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Four Corners Property Trust Inc it is $39.99 per share (as of Nov 4, 2026), against a price of $23.41. It is the blended result of 15 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Four Corners Property Trust Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, FCPT trades below its calculated fair value: price $23.41, fair value $39.99, a gap of about +71% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FCPT?
No. The price is what the market pays today ($23.41); the fair value is what the company's own numbers justify ($39.99). For Four Corners Property Trust Inc the two are $16.58 per share apart. That gap is exactly why we show both numbers side by side.
How much is Four Corners Property Trust Inc worth?
The market values Four Corners Property Trust Inc at about $2.6B (market capitalisation, as of Nov 4, 2026). Per share that is $23.41; our models calculate a fair value of $39.99 per share.
What do the bullish and bearish scenarios say about FCPT?
Our models span a range for Four Corners Property Trust Inc: cautious scenario $15.85, base $39.99, optimistic $72.83 per share (as of Nov 4, 2026, price $23.41). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FCPT?
Four Corners Property Trust Inc trades at a price-to-earnings ratio of 21.7 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $39.99 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 21.9. Other multiples: P/B 1.6, P/S 8.4, EV/EBITDA 16.0.
How solid is the balance sheet of Four Corners Property Trust Inc (FCPT)?
Balance-sheet figures for Four Corners Property Trust Inc (as of Nov 4, 2026): return on equity 7.7%, debt of 0.74 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is FCPT from its 52-week high?
Four Corners Property Trust Inc trades at $23.41, about 10% below its 52-week high of $26.09 and 11% above the low of $21.03 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $39.99 is for.
Which stocks are comparable to Four Corners Property Trust Inc?
From the same area (Real Estate) we also value Simon Property Group, Realty Income Corporation, Kimco Realty Corporation, Unibail-Rodamco-Westfield SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Four Corners Property Trust Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $23.41, calculated fair value $39.99 (+71%), Quality Score 52/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FCPT calculated?
We run Four Corners Property Trust Inc through 15 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $39.99 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Four Corners Property Trust Inc currently trades 41% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Four Corners Property Trust Inc (FCPT)?
The closing price on Nov 6, 2026 was $23.41. Our model-based fair value is $39.99, about +71% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Four Corners Property Trust Inc right now?
The model range is unusually wide ($15.85 to $72.83). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Four Corners Property Trust Inc
How large is the market capitalisation of Four Corners Property Trust Inc (FCPT)?
The market capitalisation of Four Corners Property Trust Inc is $2.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Four Corners Property Trust Inc (FCPT)?
The price-to-sales ratio of Four Corners Property Trust Inc is 8.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Four Corners Property Trust Inc (FCPT)?
Earnings per share at Four Corners Property Trust Inc are $1.08 (price ÷ EPS = P/E 21.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Four Corners Property Trust Inc (FCPT)?
The dividend yield of Four Corners Property Trust Inc is 6.2% (payout 135%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Four Corners Property Trust Inc (FCPT)?
The net margin of Four Corners Property Trust Inc is 38.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Four Corners Property Trust Inc (FCPT)?
The return on equity (ROE) of Four Corners Property Trust Inc is 7.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Four Corners Property Trust Inc (FCPT)?
On an EBIT basis the return on assets of Four Corners Property Trust Inc is 5.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Four Corners Property Trust Inc (FCPT)?
The operating margin of Four Corners Property Trust Inc is 55.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Four Corners Property Trust Inc (FCPT)?
Revenue at Four Corners Property Trust Inc is growing +7.7% versus a year earlier (3y avg +9.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Four Corners Property Trust Inc (FCPT)?
Earnings per share at Four Corners Property Trust Inc are growing −2.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Four Corners Property Trust Inc (FCPT) carry?
The net debt of Four Corners Property Trust Inc is $1.2B (fiscal year 2025, ≈ 6.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 4, 2026