St Joe Co JOE

Real EstateReal Estate OperationsUnited States of America

Last close 70.02 USD on Nov 1, 2026, +18.8% year to date

Quant rating

Quant rating D Rank 140 of 175 in Real Estate

Growth D 149 of 175
Valuation D 128 of 175
Quality D 124 of 175
Revisions D 143 of 175
Momentum A 26 of 175

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 4.0B
Enterprise value: 4.4B
52-week range: 54.06 – 73.50
3-year range: 40.82 – 73.50
Dividend yield: 1.03%
Beta (5 years): 1.27
Shares outstanding: 56.5M
Next earnings: –

About the company

The St. Joe Company is a real estate development, asset management and operating company. It owns 167,000 acres of land in Northwest Florida. Its segments include residential, hospitality and commercial. The Residential Segment develops communities into homesites for sale to homebuilders and on a limited basis to retail customers. Its projects include Watersound Origins West, Watersound Camp Creek, Breakfast Point East, Titus Park, Ward Creek, and others. The Hospitality Segment owns the Watersound Beach Club; Camp Creek golf course and amenities; Shark’s Tooth golf course and tennis center; Origins golf course; and the Third golf course, as well as other club amenities that are situated in or near its residential communities. In its commercial segment, it owns the properties used in its operations and has properties under construction that shall be used in its operations, which include multifamily, senior living, self-storage, retail, office, industrial and commercial property.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	513	403	389	252	267	–
Revenue growth	27.4%	3.5%	54.3%	−5.5%	66.3%	26.2%
EPS (basic, normalized)	–	–	–	0.84	0.21	–
EPS growth	–	–	–	300.0%	–	–
Gross margin	43.1%	41.5%	39.4%	42.2%	50.8%	43.4%
Net margin	22.5%	18.4%	20.0%	28.1%	27.9%	23.4%
ROE	15.5%	10.5%	11.8%	11.5%	12.9%	12.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	118
Current ratio	–
Long-term debt (mil)	542
Net debt (mil)	432
Total equity (mil)	765
Net debt / equity	0.56x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	513	+27.4%	8.6x	–	–	–	–	–	–

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	–	–	–	–
2027	–	–	–	–	–	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Sep 2018	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	23.7	16.3	–	–	–	–	–	–	–	–
Sales mean (mil)	27.7	–	–	–	–	–	–	–	–	–
Surprise	−14.5%	–	–	–	–	–	–	–	–	–
EPS reported	0.09	–	–	–	–	–	–	–	–	–
EPS mean	0.05	–	–	–	–	–	–	–	–	–
Surprise	+80.0%	–	–	–	–	–	–	–	–	–

Peer comparison Real Estate Operations

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
JOE St Joe Co	4.0B	–	22.5%	5.18x	–	–	–	–
SUHJY Sun Hung Kai Properties Limited	40.2B	–	22.7%	0.50x	13.3x	12.8x	12.0x	11.5x
MITEY Mitsubishi Estate Company, Limited	29.3B	7.74x	12.7%	1.69x	–	–	–	–
DIFTY Daito Trust Construction Co Ltd	7.1B	0.31x	5.0%	2.17x	2.5x	2.5x	6.9x	6.5x
UOLGY UOL Group Ltd	5.2B	–	–	–	–	–	–	–
CDEVY City Developments Limited	5.2B	–	17.3%	0.73x	–	–	–	–
Mean		4.03x	16.1%	2.05x	7.9x	7.6x	9.5x	9.0x
Median		4.03x	17.3%	1.69x	7.9x	7.6x	9.5x	9.0x

Technical analysis

1M+6.1%
3M+12.7%
1Y+39.4%
3Y+56.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, St Joe Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	513	403	389	252	267	161
Cost of revenue	292	236	236	146	131	77.8
Gross profit	221	167	153	106	136	82.8
Selling, general & administrative expenses	–	–	–	–	–	–
Research & development	–	–	–	–	–	–
Depreciation/amortization	47.5	46.4	38.8	22.9	18.2	12.8
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	0	−9.8	−4.8	0.4
Other operating expenses	27.3	25.3	23.8	22.1	23.0	22.9
Operating income	146	95.6	90.7	71.3	99.3	46.7
Net interest income (expense)	8.3	3.5	6.1	−5.8	−5.2	11.3
Gain (loss) on sale of assets	2.5	–	–	–	–	–
Other non-operating income (expense)	−1.9	−0.7	3.2	3.2	5.5	1.8
Net income before taxes	155	98.3	100	68.6	99.6	59.8
Provision for taxes	39.2	26.0	26.0	24.4	25.0	13.7
Minority interest	−0.3	1.8	3.7	0.7	0.8	−0.3
Equity in affiliates	–	–	–	26.0	−0.9	−0.7
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	116	74.2	77.7	70.9	74.6	45.2
Extraordinary items	–	–	–	–	–	–
Net income	116	74.2	77.7	70.9	74.6	45.2
EBIT, normalized	146	95.6	90.7	61.5	94.5	47.1
EBITDA, normalized	194	142	130	84.4	113	59.9
Basic EPS, normalized	–	–	–	0.84	0.21	–

Balance sheet in millions of USD, fiscal years

Balance sheet, St Joe Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	130	88.8	86.1	37.7	70.2	107
Receivables	45.6	46.3	55.9	21.7	24.0	17.3
Total inventory	3.3	4.0	4.2	–	–	–
Prepaid expenses	11.8	12.6	12.1	9.4	7.2	7.1
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	43.6	63.5	66.9	40.3	31.1	20.8
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	1,274	1,310	1,289	1,292	1,037	846
Note receivable	–	–	0.4	1.7	12.4	10.9
Other long-term assets	201	165	167	97.1	128	159
Total assets	1,518	1,539	1,524	1,431	1,208	1,037
Liabilities
Accounts payable	17.2	22.8	24.3	69.9	48.6	25.4
Payable/accrued	–	–	–	–	–	–
Accrued expenses	18.8	19.8	13.8	12.9	13.3	13.9
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	571	617	632	564	401	337
Minority interest	9.3	12.5	15.4	20.3	18.7	17.6
Other liabilities	172	185	193	216	181	133
Total liabilities	752	814	840	800	601	487
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	230	269	271	270	297	297
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	536	454	410	358	311	255
Treasury stock	–	–	–	–	–	–
Other equity	0.6	1.4	1.8	2.4	−0.4	−1.5
Total equity	766	724	683	631	607	551
Total liabilities & shareholders' equity	1,518	1,539	1,524	1,431	1,208	1,037

Cash flow statement in millions of USD, fiscal years

Cash flow statement, St Joe Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	116	72.4	74.1	70.2	73.7	45.5
Depreciation, depletion & amortization	47.5	46.4	38.8	22.9	18.2	12.8
Deferred taxes	−6.2	−0.8	−10.7	4.5	16.0	8.1
Non-cash items	28.7	−10.2	−10.4	−67.1	2.8	−23.1
Changes in working capital	4.8	0.2	12.1	17.7	1.1	−5.9
Cash from operations	191	108	104	48.2	112	37.3
Investing activities
Capital expenditures	−4.1	−7.7	−6.2	−7.3	−4.3	−5.7
Other investing cash flows	−22.2	−42.6	−93.0	−182	−192	−159
Cash from investing	−26.2	−50.4	−99.1	−190	−196	−164
Financing activities
Financing cash flow items	−3.6	−1.1	−1.8	−8.2	0.5	−5.5
Cash dividends paid	−33.6	−30.3	−25.7	−23.5	−18.8	−4.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−87.1	−20.6	68.2	144	66.9	58.2
Cash from financing	−124	−52.1	40.8	112	48.6	48.6
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	40.2	5.5	45.5	−29.1	−35.7	−78.6
Free cash flow	187	100	97.7	40.9	107	31.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.