The St. Joe Company
- Open
- 66.12
- Day high
- 66.99
- Day low
- 65.40
- Prev close
- 65.42
- Volume
- 52K
- Mkt cap
- $3.7B
- P/E (TTM)
- 30.6
- EPS (TTM)
- $2.16
- P/B
- 4.9
- P/S
- 6.8
- Yield
- 0.98%
- Per share
- $0.64
- ▼Insiders net selling -$33.1M over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions accumulating (13F)
The St. Joe Company (JOE) is a Real Estate company listed on NYSE. The stock is up 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4). Drillr has 1 published research article covering JOE.
The St. Joe Company (JOE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
JOE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | — | $0.71 | — | $159M | — |
| Apr 29, 2026 | — | $0.24 | — | $99M | — |
| Feb 25, 2026 | — | $0.52 | — | $129M | — |
| Oct 29, 2025 | — | $0.67 | — | $161M | — |
| Jul 23, 2025 | — | $0.51 | — | $129M | — |
| Apr 23, 2025 | — | $0.30 | — | $94M | — |
| Feb 26, 2025 | — | $0.32 | — | $104M | — |
| Oct 23, 2024 | — | $0.29 | — | $99M | — |
| Jul 24, 2024 | — | $0.42 | — | $112M | — |
| Feb 21, 2024 | — | $0.23 | — | $87M | — |
| Oct 25, 2023 | — | $0.33 | — | $101M | — |
| Jul 26, 2023 | — | $0.60 | — | $128M | — |
JOE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 140,400 | $65.71 |
| Jun 16, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 63,800 | $65.25 |
| Jun 16, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 26,700 | $65.03 |
| Jun 16, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 94,200 | $65.59 |
| Jun 11, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 29,200 | $65.13 |
| Jun 11, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 30,500 | $65.10 |
| Jun 8, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 33,600 | $65.18 |
| Jun 8, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 29,000 | $65.12 |
| Jun 8, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 59,100 | $65.09 |
| May 12, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 29,200 | $65.49 |
| May 12, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 86,500 | $66.09 |
| May 7, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 25,000 | $65.33 |
| May 7, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 163,600 | $65.78 |
| May 7, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 189,200 | $65.78 |
| Mar 19, 2026 | BERKOWITZ BRUCE R10 percent owner | Sell | 21,100 | $72.22 |
Source: JOE SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full JOE insider & 13F page →The St. Joe Company company profile
Overview
The St. Joe Company (NYSE:JOE) is a Florida-based real estate development and asset management company that has been operating since 1936. Originally incorporated as a timber and paper company, St. Joe has transformed into one of the largest private landowners in Florida, controlling approximately 170,000 acres in the state's Northwest Panhandle region. The company has evolved from its industrial roots into a diversified real estate enterprise focused on developing residential communities, operating hospitality assets, and managing commercial properties across its extensive land holdings.
Business
The St. Joe Company operates as a comprehensive real estate development and management enterprise in Northwest Florida, functioning across three primary business segments that leverage its substantial 170,000-acre land portfolio. The Residential segment represents the company's core development business, where St. Joe plans and develops residential communities of varying scales. This division primarily generates revenue by selling developed homesites to homebuilders and parcels of entitled or undeveloped land to retail consumers. The residential development process involves acquiring raw land, obtaining necessary permits and entitlements, installing infrastructure such as roads and utilities, and then selling the improved lots. This segment capitalizes on Florida's population growth and the desirability of Northwest Florida's coastal and recreational areas. The Hospitality segment encompasses St. Joe's operational assets that generate recurring revenue streams. This includes ownership and operation of private membership clubs, golf courses, beach clubs, retail outlets, marinas, and various entertainment facilities. The segment also operates hotels, food and beverage establishments, and gulf-front vacation rental properties, while providing management services to third parties. These assets serve both as amenities that enhance the value of residential developments and as standalone revenue generators that benefit from Florida's tourism industry. The Commercial segment focuses on leasing and developing commercial real estate properties. This includes multi-family residential complexes, senior living communities, retail spaces, office buildings, hotels, self-storage facilities, and industrial properties. Additionally, this segment manages the company's forestry operations, growing and selling pulpwood, sawtimber, and other forest products from its timberland holdings. The commercial division serves as both a land monetization strategy and a source of recurring rental income. Revenue distribution varies by quarter based on development timing and land sales, but the residential segment typically generates the largest portion of total revenue through land sales, while hospitality and commercial segments provide more stable, recurring income streams.
Revenue model
The St. Joe Company generates revenue through multiple complementary business models that maximize the value extraction from its extensive land holdings. The primary revenue driver is land development and sales, where the company purchases raw land, obtains development permits and entitlements, installs infrastructure, and sells improved homesites to homebuilders or individual buyers at significant markups. This model requires substantial upfront capital investment but generates high margins when land is successfully developed and sold. The company also operates on a recurring revenue model through its hospitality and commercial segments. Hospitality assets generate income through membership fees, green fees, food and beverage sales, hotel operations, and vacation rental management. The commercial segment produces steady cash flows through property leasing, including office buildings, retail spaces, multi-family housing, and senior living facilities. Additionally, the forestry operations provide supplemental income through timber harvesting and sales. The paying customers vary by segment: homebuilders and individual homebuyers for residential land sales, tourists and local residents for hospitality services, and businesses and individuals for commercial leasing. The company's revenue is heavily influenced by several key factors that can significantly impact margins. Positive margin drivers include Florida's continued population growth and migration trends, particularly to Northwest Florida's desirable coastal areas. Low interest rates historically boost both residential demand and commercial real estate values. The company's large land bank provides economies of scale and the ability to time development cycles strategically. Tourism growth in the region benefits hospitality operations, while the company's integrated approach allows cross-selling between segments. Negative margin pressures come from rising interest rates, which reduce affordability for homebuyers and increase the company's development financing costs. Construction cost inflation, labor shortages, and supply chain disruptions can significantly impact development margins. Regulatory changes affecting development permits or environmental restrictions pose risks given the company's Florida-focused operations. Economic downturns reduce demand for both residential land and hospitality services, while competition from other developers in Florida's attractive markets can pressure pricing power.
Competitive moat
The St. Joe Company's competitive moat is primarily built on its irreplaceable land assets and strategic geographic positioning, though this moat has both strengths and vulnerabilities. The company's 170,000-acre land bank in Northwest Florida represents its strongest competitive advantage, as this scale of contiguous, developable coastal and near-coastal property cannot be easily replicated by competitors. The region's natural barriers to development, including environmental regulations and limited available large parcels, create scarcity value that strengthens St. Joe's position. The company benefits from vertical integration across the real estate value chain, controlling everything from raw land acquisition through development, sales, and ongoing operations. This integration allows St. Joe to capture value at multiple stages and provides flexibility in timing development cycles to optimize market conditions. The hospitality and commercial assets create additional defensive characteristics by generating recurring revenue streams that help offset the cyclical nature of land development. However, the moat faces significant challenges. The company's geographic concentration in Northwest Florida creates vulnerability to regional economic downturns, natural disasters, or changes in migration patterns. Unlike technology or brand-based moats, real estate development faces direct competition from other developers, homebuilders, and even individual landowners who can offer substitute products. The company's moat is also threatened by regulatory risks, as environmental restrictions, zoning changes, or development moratoriums could significantly impair land values. The strength of St. Joe's moat is moderate and largely dependent on continued favorable demographic and economic trends in Florida. While the land bank provides near-term competitive advantages, the company must continuously invest in development and infrastructure to maintain its market position. The moat is more defensive than offensive, providing protection against direct replication but limited ability to prevent competition from alternative developments or changing consumer preferences.
Risks & safety
The St. Joe Company presents a moderate margin of safety profile with strong liquidity but elevated valuation metrics and cyclical business risks. • Liquidity and Solvency: Strong cash position with $94.5 million in cash and short-term investments as of Q1 2025, providing substantial liquidity buffer. Current ratio of 1.54 indicates adequate short-term liquidity. Debt-to-equity ratio of 0.85 represents moderate leverage levels that are manageable but require monitoring in economic downturns. • Cash Generation: Positive free cash flow of $23.4 million in Q1 2025 and $58.1 million for FY 2024, demonstrating the business generates cash despite capital-intensive nature. Operating cash flow remains consistently positive, providing financial flexibility. • Valuation Concerns: Current P/E ratio of 39.2 and EV/EBITDA of 28.1 suggest elevated valuation relative to earnings. Price-to-book ratio of 3.76 indicates stock trades at significant premium to book value, though this may be justified by land appreciation. • Cyclical Risks: Real estate development business is inherently cyclical and sensitive to interest rates, economic conditions, and regional demographic trends. Geographic concentration in Northwest Florida creates additional risk concentration. • Asset Base: Substantial real estate assets of $1.55 billion provide tangible value backing, though asset values can fluctuate with market conditions and development progress.
Recent development
Based on the available financial data, The St. Joe Company has demonstrated consistent operational execution and strategic focus on maximizing value from its Northwest Florida land holdings over recent years. The company has maintained steady revenue growth, with annual revenues increasing from $252.3 million in 2022 to $402.7 million in 2024, representing a significant 60% increase over the two-year period. The company has shown strong profitability improvements, with net income growing from $70.2 million in 2022 to $72.4 million in 2024, while maintaining healthy EBITDA margins. This performance suggests effective cost management and successful execution of higher-margin development projects. The improvement in free cash flow generation, turning positive at $58.1 million in 2024 after negative free cash flow in prior years, indicates the company has moved beyond heavy capital investment phases in certain development projects. St. Joe has maintained a disciplined approach to capital allocation, evidenced by its strong balance sheet management and consistent cash generation. The company's current ratio has remained stable around 1.5, while maintaining adequate liquidity through cash reserves that have grown to over $94 million by Q1 2025. The debt-to-equity ratio has remained relatively stable, suggesting prudent leverage management during the development cycle. The quarterly revenue patterns show some seasonality typical of the real estate development business, with stronger performance in certain quarters reflecting the timing of land sales and development project completions. This variability is normal for the industry and reflects the project-based nature of large land development transactions.
JOE company profile · for informational purposes only — not investment advice.
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