The St. Joe Company (JOE) 10-Year Financial Performance & Capital Metrics

JOE • • REIT / Real Estate

Real EstateDiversified Real EstateRegional Real Estate Development & OperationsRegional Diversified Operators

AboutThe St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment plans and develops residential communities of various sizes for homebuilders or retail consumers. It primarily sells developed homesites and parcels of entitled or undeveloped land. The Hospitality segment owns and operates a private membership club, golf courses, beach clubs, retail outlets, marinas, and other entertainment assets. This segment also engages in the hotel, food and beverage, and gulf-front vacation rental operations, as well as provides management services. The Commercial segment engages in leasing of commercial property, multi-family, a senior living community, and other assets. This segment also plans, develops, entitles, manages, and sells commercial land holdings for retail, office, hotel, senior living, multi-family, self-storage, and industrial uses; and grows and sells pulpwood, sawtimber, and other forest products. The company owns 170,000 acres of land in Northwest Florida. The St. Joe Company was incorporated in 1936 and is based in Panama City Beach, Florida.Show more

Revenue $403M +3.5%
FFO $121M +3.5%
FFO/Share 2.07 +3.5%
FFO Payout 25.17% +14.2%
FFO per Share 2.07 +3.5%
NOI Margin 41.52% +5.4%
FFO Margin 29.94%
ROE 10.34% -10.2%
ROA 4.85% -7.9%
Debt/Assets 43.9% +5.7%
Net Debt/EBITDA 4.13 -2.1%
Book Value/Share 12.63 +5.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 22.6%
✓FFO growing 33.8% TTM
✓Sustainable FFO payout ratio of 25.2%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-5.4%

5Y25.95%

3Y14.68%

TTM26.89%

Profit (Net Income) CAGR

10Y-15.64%

5Y22.61%

3Y-0.16%

TTM52.82%

EPS CAGR

10Y-11.68%

5Y23.06%

3Y0%

TTM52.54%

ROCE

10Y Avg3.91%

5Y Avg6.45%

3Y Avg6.11%

Latest6.6%

Peer Comparison

Regional Diversified Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
STRSStratus Properties Inc.	212.42M	26.57	110.71	213.74%	-25.38%	-2.44%		0.71
JOEThe St. Joe Company	3.69B	63.98	50.38	3.46%	21.41%	13.57%	1.57%	0.92

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	103.9M	95.7M	98.8M	110.3M	127.08M	160.56M	267M	252.3M	389.29M	402.74M
Revenue Growth %	-0.85%	-0.08%	0.03%	0.12%	0.15%	0.26%	0.66%	-0.06%	0.54%	0.03%
Property Operating Expenses	67.1M	61.3M	66.4M	51.3M	64.09M	77.78M	131.31M	146.6M	235.98M	235.52M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	42.9M	31.7M	29.3M	29.6M	31.68M	35.69M	41.23M	44.96M	62.57M	71.64M
G&A Expenses	33.4M	23.1M	20.4M	20.6M	0	0	0	14.4M	0	25.25M
EBITDA+	3.39M	95.68M	98.76M	113.31M	41.61M	59.87M	112.66M	84.36M	129.51M	141.97M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	9.49M	93.78M	96.46M	83.91M	10.29M	12.79M	18.2M	22.89M	38.78M	46.38M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	-6.1M	1.9M	2.3M	29.4M	31.32M	47.09M	94.46M	61.47M	90.73M	95.59M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	11.43M	12.29M	12.2M	11.8M	12.3M	13.56M	15.9M	18.4M	30.62M	33.58M
Interest Coverage	-0.53x	0.15x	0.19x	2.49x	2.55x	3.47x	5.94x	3.34x	2.96x	2.85x
Non-Operating Income	-16.4M	-31.83M	-49.92M	-13.3M	-17.16M	-26.3M	-20.13M	0	-39.95M	0
Pretax Income+	-1.1M	22.6M	41.3M	30.9M	36.19M	59.15M	98.73M	94.6M	100.06M	98.35M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	800K	7.1M	-17.9M	-700K	9.45M	13.67M	24.98M	24.4M	26.01M	25.95M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-1.7M	15.9M	59.5M	32.4M	26.77M	45.2M	74.55M	70.93M	77.71M	74.19M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1%	10.35%	2.74%	-0.46%	-0.17%	0.69%	0.65%	-0.05%	0.1%	-0.05%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.98%	13.09%	0.42%	-0.25%	-0.68%	0.56%	0.6%	0.01%	0.24%	0.04%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	-0.02	0.21	0.84	0.52	0.45	0.77	1.27	1.21	1.33	1.27
EPS Growth %	-1%	11.82%	3%	-0.38%	-0.13%	0.71%	0.65%	-0.05%	0.1%	-0.05%
EPS (Basic)	-0.02	0.21	0.84	0.52	0.45	0.77	1.27	1.21	1.33	1.27
Diluted Shares Outstanding	87.83M	74.46M	70.55M	62.73M	59.99M	59.01M	58.88M	58.72M	58.32M	58.35M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	984.8M	1.03B	921M	871M	909.23M	1.04B	1.21B	1.43B	1.52B	1.54B
Asset Growth %	-0.24%	0.04%	-0.1%	-0.05%	0.04%	0.14%	0.16%	0.18%	0.06%	0.01%
Real Estate & Other Assets+	361.9M	393.5M	397.9M	411.3M	644.24M	764.72M	698.59M	1B	1.03B	1.06B
PP&E (Net)	10.1M	9M	11.8M	12M	19.71M	21.65M	31.88M	40.32M	66.91M	63.52M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	404M	416.8M	303.4M	204.2M	230.45M	210.37M	205.87M	123.09M	160.64M	88.8M
Cash & Equivalents	212.8M	241.1M	192.1M	195.2M	185.72M	106.79M	70.16M	37.75M	86.07M	88.8M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	7.1M	0	0	3.43M	9.03M	13.82M	0	7.6M	5.12M	-59.91M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Total Liabilities	311.4M	341.1M	328.4M	337.9M	379.56M	469.15M	582.05M	779.73M	825.04M	801.84M
Total Debt+	232.7M	231.3M	232.1M	246.2M	270.45M	337.33M	406.38M	569.36M	632.89M	675.42M
Net Debt	19.9M	-9.8M	40M	51M	84.73M	230.53M	336.22M	531.61M	546.83M	586.63M
Long-Term Debt	232.7M	231.35M	232.1M	246.2M	269.56M	336.2M	400.6M	563.72M	627.14M	612.88M
Short-Term Borrowings	0	0	0	0	0	0	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	895K	1.12M	1.11M	978K	1.09M	4.77M
Total Current Liabilities+	41.9M	12.2M	15.56M	15.56M	25.48M	38.45M	92.46M	118.76M	108.03M	59.3M
Accounts Payable	2.58M	4.38M	7.52M	10.15M	16.21M	25.38M	48.6M	69.86M	24.34M	22.85M
Deferred Revenue	15.22M	3.42M	1.47M	1.28M	0	0	36.21M	38.94M	62.84M	59.27M
Other Liabilities	-23.05M	6.07M	13.84M	14.3M	83.63M	93.37M	8.48M	9.15M	16.95M	52.55M
Total Equity+	681.58M	704.31M	607.63M	548.04M	529.67M	568.17M	626.1M	651.11M	698.49M	736.74M
Equity Growth %	-0.31%	0.03%	-0.14%	-0.1%	-0.03%	0.07%	0.1%	0.04%	0.07%	0.05%
Shareholders Equity	673.4M	686.8M	592.6M	533.1M	519.52M	550.62M	607.41M	630.8M	683.06M	724.28M
Minority Interest	8.18M	17.51M	15.03M	14.94M	10.15M	17.55M	18.69M	20.31M	15.43M	12.46M
Common Stock	892.39M	572.04M	424.69M	331.39M	305.63M	296.87M	296.87M	270.03M	270.85M	268.67M
Additional Paid-in Capital	892.39M	0	424.69M	331.39M	0	0	0	0	0	0
Retained Earnings	78.85M	94.75M	154.32M	187.45M	214.22M	255.22M	310.93M	358.34M	410.37M	454.19M
Preferred Stock	8.14M	94.75M	154.32M	187.45M	0	0	0	0	0	0
Return on Assets (ROA)	-0%	0.02%	0.06%	0.04%	0.03%	0.05%	0.07%	0.05%	0.05%	0.05%
Return on Equity (ROE)	-0%	0.02%	0.09%	0.06%	0.05%	0.08%	0.12%	0.11%	0.12%	0.1%
Debt / Assets	0.24%	0.23%	0.25%	0.28%	0.3%	0.33%	0.34%	0.4%	0.42%	0.44%
Debt / Equity	0.34x	0.33x	0.38x	0.45x	0.51x	0.59x	0.65x	0.87x	0.91x	0.92x
Net Debt / EBITDA	5.88x	-0.10x	0.41x	0.45x	2.04x	3.85x	2.98x	6.30x	4.22x	4.13x
Book Value per Share	7.76	9.46	8.61	8.74	8.83	9.63	10.63	11.09	11.98	12.63

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	22.42M	12.87M	55.77M	41.42M	30.39M	37.33M	111.8M	48.22M	103.85M	107.99M
Operating CF Growth %	-0.93%	-0.43%	3.33%	-0.26%	-0.27%	0.23%	1.99%	-0.57%	1.15%	0.04%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-1.97M	15.46M	59.24M	31.6M	26.66M	45.48M	74.55M	70.23M	74.05M	72.4M
Depreciation & Amortization	9.49M	8.57M	8.88M	9M	34.83M	30.8M	18.2M	22.89M	38.78M	46.38M
Stock-Based Compensation	150K	131K	76K	263K	77K	45K	0	364K	820K	1.21M
Other Non-Cash Items	-873K	-5.07M	-14.57M	2.16M	-44.12M	-41.16M	2.01M	-67.42M	-11.18M	-11.43M
Working Capital Changes	13.3M	-35.85M	19.51M	3.2M	4.57M	-5.92M	1.05M	17.67M	12.06M	234K
Cash from Investing+	445.4M	21.03M	44.45M	44.06M	-29.3M	-164.5M	-196.09M	-189.78M	-99.14M	-50.38M
Acquisitions (Net)	-5.78M	-1.62M	787K	-22.76M	-64.85M	-116.08M	-9.88M	-2.5M	-2.31M	88K
Purchase of Investments	-341.99M	-357.79M	-115.94M	-22.1M	-5.8M	-58.91M	-157.93M	-97.13M	-173.5M	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Investing	787K	3K	2.52M	28.55M	78.87M	118.77M	7.87M	22.69M	3.84M	-42.72M
Cash from Financing+	-289.56M	-5.56M	-149.25M	-79.86M	-10.49M	48.61M	48.57M	112.46M	40.76M	-52.07M
Dividends Paid	0	0	0	0	0	-4.12M	-18.84M	-23.5M	-25.66M	-30.35M
Common Dividends	0	0	0	0	0	-4.12M	-18.84M	-23.5M	-25.66M	-30.35M
Debt Issuance (Net)	1000K	-497K	334K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K
Share Repurchases	-305M	-14.82M	-147.42M	-93.37M	-20.84M	-8.8M	0	-19.97M	0	-3.36M
Other Financing	-815K	9.75M	-2.16M	-618K	-11.94M	-5.48M	544K	-8.2M	-1.77M	-1.12M
Net Change in Cash+	178.26M	28.34M	-49.03M	5.62M	-9.4M	-78.56M	-35.72M	-29.1M	45.47M	5.55M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	34.52M	212.77M	241.11M	192.45M	198.07M	188.68M	110.12M	74.4M	45.3M	90.77M
Cash at End	212.77M	241.11M	192.08M	198.07M	188.68M	110.12M	74.4M	45.3M	90.77M	96.32M
Free Cash Flow+	19.11M	9.97M	24.36M	16.04M	-43.81M	-84.44M	-41.7M	-210.94M	-36.12M	58.06M
FCF Growth %	-0.94%	-0.48%	1.44%	-0.34%	-3.73%	-0.93%	0.51%	-4.06%	0.83%	2.61%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	0.09	1.47	2.21	1.85	0.62	0.98	1.58	1.6	2	2.07
FFO Payout Ratio	0%	0%	0%	0%	0%	7.11%	20.32%	25.05%	22.03%	25.17%
NOI Margin	35.42%	35.95%	32.79%	53.49%	49.57%	51.56%	50.82%	41.89%	39.38%	41.52%
Net Debt / EBITDA	5.88x	-0.10x	0.41x	0.45x	2.04x	3.85x	2.98x	6.30x	4.22x	4.13x
Debt / Assets	23.63%	22.5%	25.2%	28.27%	29.74%	32.52%	33.64%	39.79%	41.54%	43.9%
Interest Coverage	-0.53x	0.15x	0.19x	2.49x	2.55x	3.47x	5.94x	3.34x	2.96x	2.85x
Book Value / Share	7.76	9.46	8.61	8.74	8.83	9.63	10.63	11.09	11.98	12.63
Revenue Growth	-85.2%	-7.89%	3.24%	11.64%	15.22%	26.34%	66.3%	-5.5%	54.29%	3.46%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Real Estate	-	-	-	52.18M	61.49M	87.63M	158.63M	109.16M	186.01M	143.18M
Real Estate Growth	-	-	-	-	17.83%	42.51%	81.03%	-31.19%	70.40%	-23.03%
Homebuilder Homesite Sales, Lot Residuals	-	-	-	-	-	-	4.8M	5.8M	24M	3.6M
Homebuilder Homesite Sales, Lot Residuals Growth	-	-	-	-	-	-	-	20.83%	313.79%	-85.00%
Homebuilder Homesite Sales, Certain Products And Services	-	-	-	-	-	-	-	-	5M	2.5M
Homebuilder Homesite Sales, Certain Products And Services Growth	-	-	-	-	-	-	-	-	-	-50.00%
Hospitality	-	-	-	38.74M	46.11M	47.78M	75.27M	97.26M	152.44M	-
Hospitality Growth	-	-	-	-	19.04%	3.61%	57.53%	29.22%	56.74%	-
Timber	-	-	-	5.63M	3.9M	6.33M	6.02M	6.71M	-	-
Timber Growth	-	-	-	-	-30.66%	62.17%	-4.90%	11.38%	-	-
Homebuilder homesite sales, Certain products and services	-	-	-	-	-	-	2.4M	1.9M	-	-
Homebuilder homesite sales, Certain products and services Growth	-	-	-	-	-	-	-	-20.83%	-	-
Homebuilder Homesite Sales Lot Residuals	-	-	-	-	2.5M	1.9M	-	-	-	-
Homebuilder Homesite Sales Lot Residuals Growth	-	-	-	-	-	-24.00%	-	-	-	-
Homebuilder Homesite Sales Certain Products And Services	-	-	-	-	2.3M	1.9M	-	-	-	-
Homebuilder Homesite Sales Certain Products And Services Growth	-	-	-	-	-	-17.39%	-	-	-	-
Resorts Leisure And Operations	54.49M	57.28M	102.64M	-	-	-	-	-	-	-
Resorts Leisure And Operations Growth	-	5.13%	79.17%	-	-	-	-	-	-	-
Residential Real Estate	21.2M	19.48M	34.2M	-	-	-	-	-	-	-
Residential Real Estate Growth	-	-8.11%	75.55%	-	-	-	-	-	-	-
Commercial Leasing and Sales	-	-	20.49M	-	-	-	-	-	-	-
Commercial Leasing and Sales Growth	-	-	-	-	-	-	-	-	-	-
Forestry	12.04M	6.67M	8.1M	-	-	-	-	-	-	-
Forestry Growth	-	-44.59%	21.44%	-	-	-	-	-	-	-
Leasing Operations	8.98M	9.74M	-	-	-	-	-	-	-	-
Leasing Operations Growth	-	8.51%	-	-	-	-	-	-	-	-
Commercial Real Estate	7.16M	2.19M	-	-	-	-	-	-	-	-
Commercial Real Estate Growth	-	-69.46%	-	-	-	-	-	-	-	-
Other Real Estate	-	375K	-	-	-	-	-	-	-	-
Other Real Estate Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The St. Joe Company (JOE) has a price-to-earnings (P/E) ratio of 50.4x. This suggests investors expect higher future growth.

Growth & Financials

The St. Joe Company (JOE) reported $488.7M in revenue for fiscal year 2024. This represents a 236% increase from $145.3M in 2011.

The St. Joe Company (JOE) grew revenue by 3.5% over the past year. Growth has been modest.

Yes, The St. Joe Company (JOE) is profitable, generating $104.6M in net income for fiscal year 2024 (18.4% net margin).

Dividend & Returns

Yes, The St. Joe Company (JOE) pays a dividend with a yield of 0.81%. This makes it attractive for income-focused investors.

The St. Joe Company (JOE) has a return on equity (ROE) of 10.3%. This is reasonable for most industries.

Industry Metrics

The St. Joe Company (JOE) generated Funds From Operations (FFO) of $152.5M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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