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ST JOE Co

JOE· NYSE· Land Subdividers & Developers (No Cemeteries)

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
36.4%
ROIC, 5 yr avg
7.5%
Revenue, 5 yr CAGR
+26.2%
We record prices for the companies we cover; JOE is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
58.0M
Revenue
$513.2M
Free cash flow
$186.6M
Owner earnings
$185.4M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
43.1%
Operating
28.5%
Net
22.5%
Free cash flow
36.4%
Owner earnings
36.1%
Stock pay
0.2%

Returns

ROIC, FY2025
10.6%
ROIC, 5 yr avg
7.5%
ROE, FY2025
15.1%
ROE, 5 yr avg
12.0%

Growth (CAGR)

Revenue, 3 yr
26.7%
Revenue, 5 yr
26.2%
Revenue, 9 yr
20.4%
Diluted EPS, 3 yr
18.0%
Diluted EPS, 5 yr
20.9%
Diluted EPS, 9 yr
–
Free cash flow, 3 yr
65.9%
Free cash flow, 5 yr
42.6%
Free cash flow, 9 yr
39.4%

Financial health · FY2025

Cash and investments
$129.6M
Total debt
$391.2M
Net debt
$261.5M
Debt/Equity
0.5x
Debt/FCF
2.1x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
29.1%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-0.4%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$513.2M

+20.4% a year over 9 years

FY2016: Revenue $96.9MFY2017: Revenue $100.0MFY2018: Revenue $110.3MFY2019: Revenue $127.1MFY2020: Revenue $160.6MFY2021: Revenue $267.0MFY2022: Revenue $252.3MFY2023: Revenue $389.3MFY2024: Revenue $402.7MFY2025: Revenue $513.2M
FY2016FY2025

Margins

Gross43.1%Operating28.5%Net22.5%

FY2025

FY2016: Gross –, Operating 3.2%, Net 16.4%FY2017: Gross –, Operating 3.6%, Net 59.6%FY2018: Gross –, Operating 26.7%, Net 29.4%FY2019: Gross –, Operating 24.6%, Net 21.1%FY2020: Gross –, Operating 29.3%, Net 28.2%FY2021: Gross –, Operating 35.4%, Net 27.9%FY2022: Gross 42.2%, Operating 24.4%, Net 28.1%FY2023: Gross 39.4%, Operating 23.3%, Net 20.0%FY2024: Gross 41.5%, Operating 23.7%, Net 18.4%FY2025: Gross 43.1%, Operating 28.5%, Net 22.5%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$186.6MOwner earnings$185.4M

Free cash flow +39.4% a year

FY2016: Free cash flow $9.4M, Owner earnings $9.2MFY2017: Free cash flow $50.7M, Owner earnings $50.6MFY2018: Free cash flow $38.8M, Owner earnings $38.5MFY2019: Free cash flow $21.0M, Owner earnings $21.0MFY2020: Free cash flow $31.6M, Owner earnings $31.6MFY2021: Free cash flow $107.5M, Owner earnings –FY2022: Free cash flow $40.9M, Owner earnings $40.5MFY2023: Free cash flow $97.7M, Owner earnings $96.8MFY2024: Free cash flow $100.2M, Owner earnings $99.0MFY2025: Free cash flow $186.6M, Owner earnings $185.4M
FY2016FY2025

Diluted shares

58.0M

-3.4% over 9 years, net buybacks

FY2016: Diluted shares –FY2017: Diluted shares –FY2018: Diluted shares –FY2019: Diluted shares 60.0MFY2020: Diluted shares 59.0MFY2021: Diluted shares 58.9MFY2022: Diluted shares 58.7MFY2023: Diluted shares 58.3MFY2024: Diluted shares 58.3MFY2025: Diluted shares 58.0M
FY2016FY2025

Return on invested capital

10.6%

FY2025

FY2016: ROIC 0.4%FY2017: ROIC –FY2018: ROIC –FY2019: ROIC 5.4%FY2020: ROIC 6.0%FY2021: ROIC 9.3%FY2022: ROIC 4.7%FY2023: ROIC 6.4%FY2024: ROIC 6.6%FY2025: ROIC 10.6%
FY2016FY2025

Net debt (below zero)

-$261.5M

$261.5M more debt than cash

FY2016: Net cash $186.1MFY2017: Net cash $136.5MFY2018: Net cash $125.8MFY2019: Net cash $93.2MFY2020: Net cash -$52.1MFY2021: Net cash -$152.9MFY2022: Net cash -$348.1MFY2023: Net cash -$367.6MFY2024: Net cash -$349.0MFY2025: Net cash -$261.5M
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$96.9M$100.0M$110.3M$127.1M$160.6M$267.0M$252.3M$389.3M$402.7M$513.2M
Revenue growth-6.7%3.3%10.2%15.2%26.3%66.3%-5.5%54.3%3.5%27.4%
Gross margin––––––42.2%39.4%41.5%43.1%
Operating margin3.2%3.6%26.7%24.6%29.3%35.4%24.4%23.3%23.7%28.5%
Net income$15.9M$59.6M$32.4M$26.8M$45.2M$74.6M$70.9M$77.7M$74.2M$115.6M
Net margin16.4%59.6%29.4%21.1%28.2%27.9%28.1%20.0%18.4%22.5%
Diluted EPS–––$0.45$0.77$1.27$1.21$1.33$1.27$1.99
Return on invested capital?0.4%––5.4%6.0%9.3%4.7%6.4%6.6%10.6%
Cash
Operating cash flow$10.7M$53.7M$41.4M$30.4M$37.3M$111.8M$48.2M$103.8M$108.0M$190.7M
Capital expenditure$1.3M$3.0M$2.6M$9.4M$5.7M$4.3M$7.3M$6.2M$7.7M$4.1M
Free cash flow$9.4M$50.7M$38.8M$21.0M$31.6M$107.5M$40.9M$97.7M$100.2M$186.6M
Stock-based compensation$131.0K$76.0K$263.0K$77.0K$45.0K–$364.0K$820.0K$1.2M$1.2M
Owner earnings?$9.2M$50.6M$38.5M$21.0M$31.6M–$40.5M$96.8M$99.0M$185.4M
Free cash flow per share–––$0.35$0.54$1.83$0.70$1.67$1.72$3.22
Capital allocation
Dividends paid–––$0$4.1M$18.8M$23.5M$25.7M$30.3M$33.6M
Share repurchases$14.8M$147.4M$93.4M$20.8M$8.8M–$20.0M–$3.4M$40.3M
Diluted shares–––60.0M59.0M58.9M58.7M58.3M58.3M58.0M
Share count change?––––-1.6%-0.2%-0.3%-0.7%0.0%-0.7%
Balance sheet
Cash and equivalents$241.1M$192.1M$195.2M$185.7M$106.8M$70.2M$37.7M$86.1M$88.8M$129.6M
Short-term investments––––––––––
Total debt$55.0M$55.6M$69.4M$92.5M$158.9M$223.0M$385.9M$453.6M$437.8M$391.2M
Net debt-$186.1M-$136.5M-$125.8M-$93.2M$52.1M$152.9M$348.1M$367.6M$349.0M$261.5M
Shareholders' equity$669.3M$577.6M$518.2M$519.5M$550.6M$607.4M$630.8M$683.1M$724.3M$766.3M

Latest filings

All on EDGAR
2026-10-2810-QQuarterly report
2026-10-288-KEarnings release
2026-07-2910-QQuarterly report
2026-07-298-KEarnings release
2026-04-2910-QQuarterly report
2026-04-298-KEarnings release
2026-03-31DEF 14AProxy statement
2026-02-2510-KAnnual report
2026-02-258-KEarnings release
2025-10-2910-QQuarterly report

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