Here are the 10-K annual reports from FRP Holdings, Inc. (FRPH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow FRPH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FRPH filings page.
FRP Holdings, Inc. reports modest revenue growth but sharply lower earnings for 2025 while advancing a long-term real estate expansion strategy. Revenues rose to $42.8 million from $41.8 million, but net income attributable to the company fell to $3.3 million from $6.4 million as operating profit declined and joint ventures generated losses.
The company operates four segments: industrial and commercial properties, mining royalty lands, development projects, and multifamily joint ventures. Mining royalties remained a key cash generator, with Vulcan Materials accounting for 26% of consolidated revenues and royalty revenue increasing despite lower aggregate volumes.
FRP expanded its industrial development platform by acquiring Altman Logistics Properties, gaining projects in Florida and New Jersey and increasing general and administrative, depreciation, and interest expenses. Management expects only marginal NOI growth and lower Funds From Operations in 2026 as vacancies are leased and major industrial projects in Florida move toward expected stabilization around 2028.