Four Corners Property Trust, Inc. (FCPT) Balance Sheet
FCPT balance sheet, 2025
December 31, 2025 · U.S. dollars$2.92B assets = $1.29B liabilities + $1.63B equity
Both columns are drawn to the same scale: what FCPT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FCPT financial health
Descriptive bands, not a rating. Fiscal 2025.
FCPT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $937.2M2016 | $2.92B2025 | +13.5%/yr | |
| Total liabilities | $467.0M2016 | $1.29B2025 | +12.0%/yr | |
| Shareholders’ equity | $470.1M2016 | $1.63B2025 | +14.8%/yr | |
| Cash & short-term investments | $26.6M2016 | $12.1M2025 | −8.4%/yr | |
| Total debt | $441.5M2016 | $1.21B2025 | +11.9%/yr | |
| Net cash (debt) | −$414.9M2016 | −$1.20B2025 | −$783.6M | |
| Working capital | $12.1M2016 | −$49.2M2025 | −$61.3M | |
| Book value per share | $7.892016 | $15.812025 | +8.0%/yr | |
| Current ratio | 1.842016 | 0.302025 | −1.54 | |
| Debt / equity | 0.942016 | 0.742025 | −0.20 | |
| Shares outstanding | 59.6M2016 | 102.9M2025 | +6.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FCPT assets
FCPT liabilities and equity
FCPT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FCPT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $12.1M | $4.1M | $16.3M | $26.3M | $6.3M | $11.1M | $5.1M | $92.0M | $64.5M | $26.6M |
| Cash & equivalents | $12.1M | $4.1M | $16.3M | $26.3M | $6.3M | $11.1M | $5.1M | $92.0M | $64.5M | $26.6M |
| Short-term investments | — | — | $21.0M | $35.3M | $2.6M | $762,000 | $1.5M | $6.0M | $4.9M | $837,000 |
| Receivables | $5.8M | $3.5M | $3.0M | $2.7M | $1.3M | $1.0M | $380,000 | $782,000 | $383,000 | $162,000 |
| Inventory | $246,000 | $221,000 | $238,000 | $7.8M | $252,000 | $2.9M | $196,000 | $183,000 | $186,000 | $202,000 |
| Other current assets | $2.7M | $2.7M | $11.0M | $3.4M | $4.4M | $4.3M | $5.1M | $3.8M | $6.9M | $0 |
| Total current assets | $20.9M | $10.5M | $30.5M | $40.1M | $12.3M | $19.3M | $10.7M | $96.8M | $71.9M | $26.6M |
| Property, plant & equipment (net) | $4.8M | $3.4M | $3.9M | $4.4M | $4.9M | $5.4M | $3.8M | $1.19B | $966.1M | $894.3M |
| Goodwill & intangible assets | $129.4M | $123.6M | $118.0M | $106.2M | $104.3M | $96.3M | $57.9M | $19.0M | $3.9M | $1.8M |
| Long-term investments | $0 | $0 | $0 | $42.8M | $2.6M | $3.5M | $1.5M | $6.0M | $5.0M | $837,000 |
| Other non-current assets | $2.77B | $2.52B | $2.30B | $2.01B | $1.78B | $1.54B | $1.37B | $30.6M | $21.7M | $13.6M |
| Total assets | $2.92B | $2.65B | $2.45B | $2.20B | $1.90B | $1.67B | $1.45B | $1.34B | $1.07B | $937.2M |
| Liabilities | ||||||||||
| Accounts payable | $751,000 | $931,000 | $1.3M | $766,000 | $550,000 | $376,000 | $799,000 | $986,000 | $1.1M | $726,000 |
| Short-term debt | — | $150.5M | $50.0M | $9,000 | $7.5M | $10.0M | $5.0M | $1.6M | $18.0M | $2.6M |
| Deferred revenue | $17.9M | $6.7M | $14.3M | $11.7M | $11.3M | $11.9M | $10.5M | $1.6M | $8.3M | $8.0M |
| Total current liabilities | $70.1M | $53.3M | $49.7M | $47.2M | $40.9M | $38.2M | $34.6M | $24.2M | $28.0M | $14.5M |
| Long-term debt | $1.20B | $1.14B | $1.11B | $995.5M | $885.1M | $772.6M | $669.9M | $615.9M | $515.5M | $438.9M |
| Lease obligations | $6.4M | $5.1M | $4.6M | $5.1M | $5.6M | $6.1M | $4.4M | — | — | — |
| Other long-term liabilities | $16.6M | $11.1M | $29.4M | $17.6M | $13.1M | $12.9M | $14.8M | $4.0M | $2.9M | $13.6M |
| Total liabilities | $1.29B | $1.20B | $1.19B | $1.06B | $939.1M | $823.7M | $719.3M | $644.1M | $546.4M | $467.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $11,000 | $10,000 | $9,000 | $9,000 | $8,000 | $8,000 | $7,000 | $7,000 | $6,000 | $6,000 |
| Retained earnings (deficit) | −$93.6M | −$57.7M | −$26.3M | $576,000 | $12.8M | $26.7M | $38.4M | $46.0M | $36.3M | $25.9M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $7.7M | $23.6M | $22.0M | $30.9M | −$9.8M | −$25.7M | −$3.5M | $6.0M | $4.5M | $207,000 |
| Minority interest | $2.1M | $2.2M | $2.2M | $2.3M | $2.2M | $3.1M | $5.7M | — | $0 | $0 |
| Total shareholders' equity | $1.63B | $1.45B | $1.26B | $1.14B | $963.9M | $844.5M | $726.7M | $699.0M | $522.3M | $470.1M |
| Key figures | ||||||||||
| Total debt | $1.21B | $1.14B | $1.12B | $1.00B | $892.6M | $782.6M | $674.9M | $617.5M | $533.5M | $441.5M |
| Net cash (debt) | −$1.20B | −$1.14B | −$1.10B | −$974.3M | −$886.3M | −$771.5M | −$669.9M | −$525.5M | −$469.0M | −$414.9M |
| Working capital | −$49.2M | −$42.8M | −$19.2M | −$7.0M | −$28.6M | −$18.8M | −$23.8M | $72.6M | $44.0M | $12.1M |
| Tangible book value | $1.50B | $1.32B | $1.14B | $1.03B | $859.6M | $748.2M | $668.8M | $680.0M | $518.4M | $468.3M |
| Book value per share | $15.81 | $15.40 | $14.17 | $13.89 | $12.54 | $11.79 | $10.59 | $10.86 | $8.60 | $7.89 |
| Shares outstanding | 102.9M | 94.1M | 88.7M | 81.8M | 76.8M | 71.6M | 68.6M | 64.4M | 60.7M | 59.6M |
| Current ratio | 0.30 | 0.20 | 0.61 | 0.85 | 0.30 | 0.51 | 0.31 | 3.99 | 2.57 | 1.84 |
| Quick ratio | 0.26 | 0.14 | 0.39 | 0.61 | 0.19 | 0.32 | 0.16 | 3.83 | 2.32 | 1.85 |
| Debt / equity | 0.74 | 0.79 | 0.89 | 0.88 | 0.93 | 0.93 | 0.93 | 0.88 | 1.02 | 0.94 |
| Equity / assets | 55.7% | 54.6% | 51.3% | 51.7% | 50.7% | 50.6% | 50.3% | 52.0% | 48.9% | 50.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $24.8M | $29.6M | $12.1M | $6.7M | $6.0M | $22.3M | $4.1M | $44.5M | $17.2M | $26.1M | $16.3M | $5.7M |
| Cash & equivalents | $24.8M | $29.6M | $12.1M | $6.7M | $6.0M | $22.3M | $4.1M | $44.5M | $17.2M | $26.1M | $16.3M | $5.7M |
| Short-term investments | — | — | — | — | — | — | — | $2.95B | $24.3M | $24.4M | $21.0M | $698.7M |
| Receivables | $4.3M | $72.5M | $5.8M | $5.1M | $4.3M | $4.3M | $3.5M | $2.4M | $2.5M | $3.2M | $3.0M | $2.4M |
| Inventory | $230,000 | $237,000 | $246,000 | $185,000 | $197,000 | $214,000 | $221,000 | $185,000 | $198,000 | $266,000 | $238,000 | $3.4M |
| Other current assets | $7.7M | $0 | $2.7M | $2.8M | $0 | $4.0M | $2.7M | $2.8M | $2.2M | $3.7M | $11.0M | $13.8M |
| Total current assets | $37.1M | $102.2M | $20.9M | $14.8M | $6.0M | $30.8M | $10.5M | $49.9M | $22.1M | $33.3M | $30.5M | $25.3M |
| Property, plant & equipment (net) | $4.6M | $2.82B | $4.8M | $4.9M | $2.66B | $3.3M | $3.4M | $3.5M | $3.7M | $3.8M | $3.9M | $4.0M |
| Goodwill & intangible assets | $128.4M | $126.6M | $129.4M | $124.0M | $122.2M | $119.9M | $123.6M | $118.5M | $114.1M | $115.8M | $118.0M | $122.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.83B | $0 | $2.77B | $2.69B | $0 | $2.56B | $2.52B | $2.39B | $2.35B | $2.31B | $2.30B | $2.30B |
| Total assets | $3.00B | $2.95B | $2.92B | $2.83B | $2.77B | $2.71B | $2.65B | $2.56B | $2.49B | $2.46B | $2.45B | $2.46B |
| Liabilities | ||||||||||||
| Accounts payable | $695,000 | $665,000 | $751,000 | $686,000 | $654,000 | $1.5M | $931,000 | $652,000 | $373,000 | $955,000 | $1.3M | $608,000 |
| Short-term debt | $400.4M | $150.5M | — | $155.8M | $5.4M | $3.0M | $150.5M | $510.8M | $537.3M | $509.8M | $441.7M | $455.3M |
| Deferred revenue | $16.3M | $16.4M | $17.9M | $15.8M | $15.6M | $15.5M | $6.7M | $13.2M | $12.4M | $12.3M | $14.3M | $13.2M |
| Total current liabilities | $109.9M | $150.5M | $70.1M | $67.0M | $63.6M | $64.3M | $53.3M | $60.3M | $56.4M | $57.6M | $57.3M | $65.2M |
| Long-term debt | $1.25B | $1.20B | $1.20B | $1.21B | $1.20B | $1.20B | $1.14B | $621.5M | $1.16B | $1.13B | $1.11B | $1.13B |
| Lease obligations | $6.3M | $6.2M | $6.4M | $6.6M | $6.7M | $4.9M | $5.1M | $5.3M | $5.5M | $5.7M | $4.6M | $4.8M |
| Other long-term liabilities | $10.5M | $0 | $16.6M | $17.2M | $16.2M | $12.1M | $11.1M | $527.8M | $9.5M | $9.8M | $21.8M | $10.9M |
| Total liabilities | $1.37B | $1.29B | $1.29B | $1.30B | $1.28B | $1.28B | $1.20B | $1.21B | $1.22B | $1.20B | $1.19B | $1.20B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $11,000 | $11,000 | $11,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $9,000 | $9,000 | $9,000 | $9,000 |
| Retained earnings (deficit) | −$153.8M | −$103.3M | −$93.6M | −$83.4M | −$75.3M | −$67.0M | −$57.7M | −$48.5M | −$40.9M | −$33.9M | −$26.3M | −$19.2M |
| Accumulated other comprehensive income | $18.2M | $11.9M | $7.7M | $7.9M | $9.8M | $15.4M | $23.6M | $10.8M | $27.6M | $27.5M | $22.0M | $35.3M |
| Minority interest | $2.1M | $2.1M | $2.1M | $2.1M | $2.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.62B | $1.66B | $1.63B | $1.53B | $1.48B | $1.43B | $1.45B | $1.35B | $1.26B | $1.26B | $1.26B | $1.25B |
| Key figures | ||||||||||||
| Total debt | $1.26B | $1.21B | $1.21B | $1.22B | $1.21B | $1.21B | $1.14B | $1.65B | $1.70B | $1.65B | $1.56B | $1.59B |
| Net cash (debt) | −$1.23B | −$1.18B | −$1.20B | −$1.21B | −$1.20B | −$1.18B | −$1.14B | −$1.60B | −$1.68B | −$1.62B | −$1.54B | −$1.58B |
| Working capital | −$72.9M | −$48.4M | −$49.2M | −$52.3M | −$57.7M | −$33.5M | −$42.8M | −$10.4M | −$34.3M | −$24.4M | −$26.8M | −$40.0M |
| Tangible book value | $1.49B | $1.54B | $1.50B | $1.41B | $1.36B | $1.31B | $1.32B | $1.23B | $1.15B | $1.15B | $1.14B | $1.13B |
| Book value per share | $14.78 | $15.19 | $15.28 | $15.07 | $14.74 | $14.30 | $14.91 | $14.26 | $13.69 | $13.73 | $13.87 | $13.81 |
| Shares outstanding | 109.8M | 109.6M | 106.5M | 101.8M | 100.6M | 100.1M | 97.2M | 94.9M | 92.0M | 91.9M | 90.7M | 90.6M |
| Current ratio | 0.34 | 0.68 | 0.30 | 0.22 | 0.09 | 0.48 | 0.20 | 0.83 | 0.39 | 0.58 | 0.53 | 0.39 |
| Quick ratio | 0.26 | 0.68 | 0.26 | 0.18 | 0.16 | 0.41 | 0.14 | 0.78 | 0.35 | 0.51 | 0.34 | 0.12 |
| Debt / equity | 0.78 | 0.73 | 0.74 | 0.80 | 0.82 | 0.84 | 0.79 | 1.22 | 1.35 | 1.30 | 1.24 | 1.27 |
| Equity / assets | 54.1% | 56.4% | 55.7% | 54.1% | 53.6% | 52.8% | 54.6% | 52.7% | 50.7% | 51.2% | 51.3% | 51.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
FCPT financial position
At the end of fiscal 2025 (December 31, 2025), Four Corners Property had total assets of $2.9 billion (up 10.1% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $1.6 billion. It held $12.1 million in cash and short-term investments against $1.2 billion of debt, net debt of $1.2 billion. Its current ratio was 0.30. In the latest quarter (ended June 30, 2026) total assets were $3.0 billion and equity $1.6 billion.
Related: FCPT income statement, FCPT cash flow statement, FCPT key metrics. See the FCPT stock overview for the latest quote and news.
FCPT balance sheet FAQ
What are Four Corners Property's total assets?
Four Corners Property reported total assets of $2.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.7 billion a year earlier.
How much debt does Four Corners Property have?
Four Corners Property had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.74.
How much cash does Four Corners Property have?
Four Corners Property held $12.1 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $1.2 billion.
What is Four Corners Property's book value?
Four Corners Property's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2025, or $15.81 per share.
What is Four Corners Property's current ratio?
Four Corners Property had current assets of $20.9 million and current liabilities of $70.1 million, a current ratio of 0.30 (current liabilities exceed current assets).
How much goodwill does Four Corners Property have?
Four Corners Property carried $129.4 million of goodwill and intangible assets, 4.4% of total assets, at the end of fiscal 2025.