A Business at a Glance
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CAPITAL PROPERTIES INC /RI/
CPTP
$95M
Mkt Cap
$14.23
+0.00%
CAPITAL PROPERTIES INC /RI/ (CPTP) has a current P/E ratio of 51.1, compared to its historical median P/E of 36.1. The stock is currently considered Fair based on its historical valuation range.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a 5-year average return on invested capital (ROIC) of 27.0%. This indicates strong capital allocation and a potential competitive advantage.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a market capitalization of $95M. It is classified as a small-cap stock.
Yes, CAPITAL PROPERTIES INC /RI/ (CPTP) pays a dividend with a trailing twelve-month yield of 1.95%.
Based on historical P/E analysis, CAPITAL PROPERTIES INC /RI/ (CPTP) appears fair. The current P/E of 51.1 is 42% above its historical median of 36.1. The estimated fair value CAGR (P/E method) is -1.9%.
CAPITAL PROPERTIES INC /RI/ (CPTP) operates in the Lessors Of Real Property, Nec industry, within the Real Estate sector.
CAPITAL PROPERTIES INC /RI/ (CPTP) reported annual revenue of $6 million in its most recent fiscal year, based on SEC EDGAR filings.
Organizational History The Company was organized as a business corporation under the laws of Rhode Island in 1983 as Providence and Worcester Company and is the successor by merger in 1983 to a corporation also named Providence and Worcester Company which was organized under the laws of Delaware in 1979. In 1984, the Company’s name was changed to Capital Properties, Inc. The Company operates in one segment that consists principally of the leasing of Company-owned land in Capital Center (“Capital Center”) and property adjacent to Capital Center (Parcel 20) in downtown Providence, Rhode Island under long-term ground leases with terms of 99 years or more.* (Hereinafter, the land in Capital Center and Parcel 20 are referred to as parcels within the “Capital Center Area”). The Company owns approximately 18 acres in Capital Center consisting of 13 individual parcels.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 5.6M | 5.6M | 5.5M | 5.1M | 4.8M | 4.6M |
| Net Income | 2.0M | 2.0M | 2.3M | 1.8M | 1.8M | 2.0M |
| EPS | $0.30 | $0.30 | $0.35 | $0.27 | $0.28 | $0.30 |
| Free Cash Flow | 2.5M | 2.5M | 2.3M | 2.1M | 1.7M | 2.1M |
| ROIC | 29.0% | 25.9% | 30.7% | 25.1% | 25.6% | 27.6% |
| Gross Margin | 83.1% | 83.1% | 84.0% | 81.8% | 82.4% | 87.7% |
| Debt/Equity | 0.00 | 0.17 | 0.18 | 0.18 | 0.17 | 0.21 |
| Dividends/Share | $0.28 | $0.28 | $0.28 | $0.28 | $0.28 | $0.21 |
| Operating Income | 2.9M | 2.9M | 3.2M | 2.6M | 2.5M | 2.7M |
| Operating Margin | 51.5% | 51.5% | 58.4% | 50.5% | 52.9% | 59.2% |
| ROE | 25.9% | 26.1% | 31.7% | 25.0% | 25.6% | 28.8% |
| Shares Outstanding | 7M | 7M | 7M | 7M | 7M | 7M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.7M | 7.8M | 5.0M | 5.1M | 5.2M | 5.3M | 5.2M | 4.6M | 4.8M | 5.1M | 5.5M | 5.6M | 5.6M |
| Gross Margin | 46.0% | 53.7% | 82.6% | 72.3% | 74.8% | 48.0% | 90.1% | 87.7% | 82.4% | 81.8% | 84.0% | 83.1% | 83.1% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.1M | 1.1M | 1.4M | 1.5M | 2.2M | 1.7M | 1.3M | 1.3M | 1.4M | 1.3M | 1.4M | 1.4M | 1.4M |
| EBIT | 2.0M | 3.1M | 3.6M | 3.3M | 6.5M | 1.5M | 3.4M | 2.7M | 2.5M | 2.6M | 3.2M | 2.9M | 2.9M |
| Op. Margin | 29.5% | 39.9% | 72.3% | 63.9% | N/A | 27.3% | 66.4% | 59.2% | 52.9% | 50.5% | 58.4% | 51.5% | 51.5% |
| Net Income | 711K | 1.4M | 2.2M | 1.8M | 6.0M | 1.3M | 2.5M | 2.0M | 1.8M | 1.8M | 2.3M | 2.0M | 2.0M |
| Net Margin | 10.7% | 18.4% | 43.1% | 35.7% | 114.4% | 23.6% | 48.0% | 43.2% | 38.2% | 35.2% | 42.1% | 35.6% | 35.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 1.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 16.1% | 31.7% | 45.7% | 31.4% | 48.4% | 17.8% | 37.7% | 27.6% | 25.6% | 25.1% | 30.7% | 25.9% | 29.0% |
| ROE | 54.8% | 60.4% | 51.9% | 29.6% | 61.0% | 12.8% | 36.3% | 28.8% | 25.6% | 25.0% | 31.7% | 26.1% | 25.9% |
| ROA | 2.9% | 5.9% | 9.4% | 7.9% | 30.9% | 10.6% | 29.0% | 23.0% | 21.5% | 21.2% | 26.8% | 22.3% | 22.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 930K | 2.3M | 1.6M | 2.2M | 6.5M | 2.2M | 2.5M | 2.1M | 1.7M | 2.1M | 2.3M | 2.5M | 2.5M |
| Free Cash Flow | 913K | 2.2M | 1.4M | 2.2M | 6.5M | 2.2M | 2.5M | 2.1M | 1.7M | 2.1M | 2.3M | 2.5M | 2.5M |
| Owner Earnings | 80K | 1.5M | 1.4M | 2.0M | 6.3M | 2.1M | 2.3M | 2.0M | 1.7M | 2.0M | 2.2M | 2.4M | 2.4M |
| CapEx | 17K | 122K | 263K | 12K | 11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 850K | 859K | 221K | 204K | 185K | 165K | 239K | 93K | 86K | 86K | 86K | 86K | 86K |
| Growth CapEx | 0 | 0 | 42K | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 850K | 859K | 221K | 204K | 185K | 165K | 239K | 93K | 86K | 86K | 86K | 86K | 86K |
| CapEx/OCF | 1.8% | 5.2% | 16.2% | 0.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 7.3M | 3.0M | 1.4M | 1.8M | 1.8M | 1.8M | 1.8M | 1.8M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 9.1% | 3.6% | 1.7% | 2.5% | N/A | N/A | N/A | 1.9% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 286K | 2.6M | 2.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 5.7M | 2.9M | 627K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -850K |
| Cash & Equiv. | 0 | 0 | 2.2M | 3.1M | 5.2M | 1.1M | 1.3M | 1.6M | 1.4M | 1.5M | 652K | 850K | 850K |
| Long-Term Debt | 5.4M | 2.6M | 2.9M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 3.46 | 0.93 | 0.54 | 2.34 | 0.20 | 0.21 | 0.31 | 0.21 | 0.17 | 0.18 | 0.18 | 0.17 | 0.00 |
| Interest Coverage | 2.5 | 4.1 | 5.2 | 5.7 | 58.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 1.7M | 3.1M | 5.2M | 7.1M | 13M | 7.1M | 6.6M | 7.2M | 7.2M | 7.1M | 7.6M | 7.7M | 7.7M |
| Total Assets | 25M | 23M | 23M | 24M | 15M | 8.5M | 8.6M | 8.7M | 8.4M | 8.4M | 8.9M | 9.1M | 9.1M |
| Total Liabilities | 23M | 20M | 17M | 17M | 2.5M | 1.5M | 2.0M | 1.5M | 1.2M | 1.3M | 1.4M | 1.3M | 1.3M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 805K | 2.2M | 4.4M | 6.2M | 12M | 6.2M | 5.7M | 6.3M | 6.3M | 6.3M | 6.7M | 6.9M | 6.9M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | 333K | 121K | 111K | 75K | 75K | 75K | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.11 | 0.22 | 0.33 | 0.28 | 0.91 | 0.19 | 0.38 | 0.30 | 0.28 | 0.27 | 0.35 | 0.30 | 0.30 |
| Owner EPS | 0.01 | 0.23 | 0.21 | 0.31 | 0.96 | 0.31 | 0.35 | 0.30 | 0.25 | 0.30 | 0.33 | 0.36 | 0.36 |
| Book Value | 0.26 | 0.47 | 0.80 | 1.08 | 1.91 | 1.07 | 1.01 | 1.09 | 1.09 | 1.07 | 1.14 | 1.16 | 1.16 |
| Cash Flow/Share | 0.14 | 0.36 | 0.25 | 0.34 | 0.99 | 0.33 | 0.39 | 0.31 | 0.27 | 0.32 | 0.35 | 0.37 | 0.31 |
| Dividends/Share | N/A | N/A | N/A | 0.07 | 0.07 | 1.09 | 0.45 | 0.21 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| Shares Out. | 6.5M | 6.5M | 6.6M | 6.5M | 6.6M | 6.6M | 6.5M | 6.6M | 6.6M | 6.6M | 6.6M | 6.7M | 6.7M |
| Valuation | |||||||||||||
| P/E Ratio | 58.0 | 43.3 | 26.5 | 38.4 | 12.1 | 67.0 | 34.9 | 36.1 | 38.8 | N/A | N/A | N/A | 47.4 |
| P/FCF | 44.2 | 27.6 | 41.6 | 31.5 | 11.1 | 38.2 | 33.8 | 34.7 | 40.6 | N/A | N/A | N/A | 38.4 |
| EV/EBIT | 34.1 | 25.8 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 32.5 |
| Price/Book | 25.0 | 20.1 | 10.9 | 9.9 | 5.7 | 11.9 | 13.2 | 10.0 | 9.9 | N/A | N/A | N/A | 12.3 |
| Price/Sales | 5.9 | 6.7 | 12.6 | 11.0 | 13.6 | 14.9 | 16.2 | 17.2 | 15.4 | N/A | N/A | N/A | 16.9 |
| FCF Yield | 2.2% | 3.6% | 2.4% | 3.1% | 9.0% | 2.6% | 2.9% | 2.9% | 2.5% | N/A | N/A | N/A | 2.6% |
| Market Cap | 41M | 62M | 57M | 70M | 72M | 84M | 87M | 72M | 71M | 0 | 0 | 0 | 95M |
| Avg. Price | 5.99 | 7.88 | 9.57 | 8.54 | 10.78 | 12.02 | 12.65 | 11.99 | 11.24 | 0.00 | 0.00 | 0.00 | 14.23 |
| Year-End Price | 6.25 | 9.37 | 8.67 | 10.62 | 10.98 | 12.79 | 13.14 | 10.84 | 10.81 | 0.00 | 0.00 | 0.00 | 14.23 |
CAPITAL PROPERTIES INC /RI/ passes 3 of 9 quality checks, indicating weak fundamentals.
CAPITAL PROPERTIES INC /RI/ trades at 51.1x trailing earnings, compared to its 15-year median P/E of 36.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 53.7x vs a median of 34.7x. The company's 5-year average ROIC is 27.0% with a gross margin of 83.8%. Total shareholder yield (dividends) is 1.9%. At current prices, the estimated annualized return to fair value is -3.0%.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a net profit margin of 35.6%. This is a strong margin indicating high profitability.
CAPITAL PROPERTIES INC /RI/ (CPTP) generated $2 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a debt-to-equity ratio of 0.17. This indicates a conservatively financed balance sheet.
CAPITAL PROPERTIES INC /RI/ (CPTP) reported earnings per share (EPS) of $0.30 in its most recent fiscal year.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a return on equity (ROE) of 26.1%. This indicates the company generates strong returns for shareholders.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a 5-year average gross margin of 83.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for CAPITAL PROPERTIES INC /RI/ (CPTP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CAPITAL PROPERTIES INC /RI/ (CPTP) has a book value per share of $1.16, based on its most recent annual SEC filing.
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