MAUI LAND & PINEAPPLE CO INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MAUI LAND & PINEAPPLE CO INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	47.4	24.6	8.86	10	7.54	12.4	21	9.29	11.6	19.5
Cost of revenue	0.95	1.03
Gross profit	46.4	23.5
General and administrative	2.2	2.52	2.9	2.25	2.45	2.57	2.8	4	4.3	4.74
Operating expenses	23.9	12.6	14.9	5.44	4.73	5.6	6.17	6.55
Operating income	23.5	12	-3.98	-0.8	-2.55	1.64	9.61	-4.97	-7.35	-4.55
Other non-operating income					0.89	0.01	0.07	0.71	0.92	1.11
Income tax			-5	5	0	0	0	0	0	0
Income from continuing operations			0.35	-7.01	-2.27	-3.2	1.79	-3.08
Net income	21.8	10.9	0.5	-10.4	-2.6	-3.42	1.79	-3.08	-7.39	-10.6
EBITDA	26.5	13.9	-2.42	0.7	-1.15	2.94	10.7	-4.19	-6.63	-3.41
EPS, basic	1.15	0.57	0.03	-0.54	-0.14	-0.18	0.09	-0.15	-0.38	-0.54
EPS, diluted	1.15	0.57	0.03	-0.54	-0.14	-0.18	0.09	-0.15	-0.38	-0.54
Shares, basic (weighted)	18.9	19	19.1	19.2	19.3	19.4	19.4	19.6	19.6	19.7
Shares, diluted (weighted)	18.9	19	19.1	19.2	19.3	19.4	19.4	19.7	19.6	19.7

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.6	1.03	0.62	0.68	0.87	5.6	8.5	5.7	6.84	5.3
Receivables	1.5	0.94	0.99	1.17	1.36	1.1	0.89	1.17	5.02	1.37
Other current assets	0.19	0.16	0.04	0.1	0.08	0.33	0.37	0.47	0.51	0.61
Total current assets	2.75	2.34	12.1	9.55	9.75	10.2	15.2	10	15.1	9.1
Property, plant and equipment	25.7	30.7	21.5	19.7	18.5	17	15.9	16.1	17.4	18.2
Lease right-of-use assets									0.02	0.22
Other non-current assets	10.4	11.8	14.6	9.85	10.2	10.7	11.3	16.2	17.6	20.6
Total assets	38.9	44.8	48.2	39.1	38.5	37.9	42.4	42.2	50.1	48
Accounts payable	0.57	0.7	2.02	1.36	0.9	0.58	0.59	1.15	2.32	2.77
Accrued liabilities	0.61	0.78	0.81
Deferred revenue	0.02	0.02	0.14	0.04	0.26	0.22	0.23	0.22	0.83	0.83
Short-term debt			1.24		0.2	0
Total current liabilities	2.4	1.85	4.79	2.95	2.95	2.4	2.31	2.48	11.2	7.36
Long-term debt	6.86	1.24		1.04
Lease liabilities									0.01	0.18
Other non-current liabilities	0.04	0.04	0.05	0.06	0.08	0.05	0.03	0.01	0.02
Total liabilities	21.1	13.7	17.3	16.4	18.4	14.3	8.63	7.52	17	14.9
Total debt	6.9	1.24	1.24	1.04	0.2	0
Paid-in capital	9.25	9.25	9.25	9.18	9.18	9.18	9.18	10.5	15.2	17.3
Retained earnings	-47.3	-36.4	-35.9	-46.3	-48.9	-52.3	-50.5	-53.6	-61	-71.6
Other comprehensive income	-22.3	-20.3	-21.8	-20.8	-21.7	-15.6	-8.27	-6.9	-6.89	-0.28
Shareholders' equity	17.7	31.1	30.9	22.7	20.1	23.6	33.8	34.7	33.2	33.1
Total equity	17.7	31.1	30.9	22.7	20.1	23.6	33.8	34.7	33.2	33.1
Total liabilities and equity	38.9	44.8	48.2	39.1	38.5	37.9	42.4	42.2	50.1	48
Shares outstanding	19	19	19.1	19.2	19.3	19.4	19.5	19.6	19.7	19.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	21.8	10.9	0.5	-10.4	-2.6	-3.42	1.79	-3.08	-7.39	-10.6
Depreciation and amortization	2.99	1.94	1.56	1.5	1.4	1.3	1.12	0.79	0.72	1.14
Stock-based compensation	0.32	0.45	1.54	1.73	1.63	1.45	1.28	2.85	6.31	4.32
Change in receivables	0.03	0.56	0.17	-0.2	-0.39	0.19	0.18	-0.42	-4.08	3.01
Change in payables			1.33	-0.67	-0.46	-0.32	0.01	0.1	0.87	0.94
Cash from operations	33.9	8.35	0.88	1.77	2.2	1.39	6.26	-1.37	0.37	2.08
Capital expenditures	-0.27		-0.31	-0.99	-0.52	-0.1	-0.03	-0.82	-1.87	-2.56
Cash from investing	-0.33	-1.52	-0.71	-0.99	-0.52	4.1	-3.02	-0.86	-2.1	-3.38
Debt issued	27.5	0.3	0.5	1.5	1.4	0.6	0
Debt repaid	-61.2	-5.92	-0.5	-1.7	-2.23	-0.8	0		-0.02	-0.15
Stock issued				0.13
Cash from financing	-34	-6.4	-0.58	-0.72	-1.5	-0.76	-0.34	-0.57	2.87	-0.24
Net change in cash	-0.49	0.43	-0.41	0.06	0.19	4.73	2.91	-2.81	1.14	-1.54
Free cash flow	33.6		0.57	0.78	1.68	1.28	6.23	-2.19	-1.5	-0.48
Interest paid	2.22	0.1	0.08	0.11	0.02	0.01	0
Income taxes paid	0.03	0.41							0	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $16.09 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-36.3%	Operating income / revenue.
EBITDA margin	-29.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-28.6%	Net income / revenue.
Operating cash flow margin	2.2%	Cash from operations / revenue.
Return on equity (ROE)	-14.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-9.3%	Net income / average total assets.
Return on invested capital (ROIC)	-16.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	24.3%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	6.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	68.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	20.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	460.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-30.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-1.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-4.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.17x	Current assets / current liabilities.
Quick ratio	0.76x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.50x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	37.4%	Total liabilities / total assets.
Working capital	$1.1M	Current assets - current liabilities.
Tangible book value	$31.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.33x	Revenue / average total assets.
Fixed asset turnover	0.86x	Revenue / average property, plant and equipment.
Receivables turnover	9.65x	Revenue / average receivables.
Days sales outstanding	38 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
Book value per share	$1.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.56	Tangible book value / shares outstanding.
Cash per share	$0.17	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$319.5M	Share price x shares outstanding.
Enterprise value	$316.3M	Market cap + total debt - cash - short-term investments.
P/S	19.8x	Market cap / revenue.
P/B	10.3x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	10.3x	Market cap / tangible book value, when positive.
P/OCF	898x	Market cap / cash from operations, when positive.
EV/Sales	19.6x	Enterprise value / revenue.
Earnings yield	-1.4%	Net income / market cap (the inverse of P/E).

What was MAUI LAND & PINEAPPLE CO INC's revenue in fiscal 2025?

MAUI LAND & PINEAPPLE CO INC reported revenue of $19.5M for fiscal 2025, 68.2% higher than the year before.

Was MAUI LAND & PINEAPPLE CO INC profitable in fiscal 2025?

No. It reported a net loss of $10.6M.

How much free cash flow did MAUI LAND & PINEAPPLE CO INC generate in fiscal 2025?

Cash from operations of $2.1M minus capital expenditures of $2.6M left free cash flow of -$484.0K.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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