Maui Land & Pineapple (MLP) Stock Price, Financials & Analysis

Key Stats

Market Cap307.26 Mn

P/E-66.41

FCF (Yr)-5.14 Mn

ROA (Yr)-9.27

EV to EBIT-49.38

Net Income (Yr)-10.58 Mn

Enterprise Value289.79 Mn

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About

Maui Land & Pineapple Company, Inc. is a landholding and operating parent company that plans, manages, develops, and sells residential, resort, commercial, agricultural, and industrial real estate on the island of Maui Hawaii The company owns approximately 22,300 acres of land and 247,000 square feet of commercial property which it puts into productive use through its three business segments. The company generates revenue from the sale of developed land and properties from…

The company generates revenue from the sale of developed land and properties from leasing commercial, industrial, and agricultural spaces from licensing its trademarks and from operating water systems, and stewardship programs and from providing resort amenity services to members of the Kapalua Club In 2025 total operating revenue was approximately $19.4 million with the Land Development and Sales segment contributing $5.8 million (30%), the Leasing segment contributing $12.8 million (66%), and the Resort Amenities segment contributing $0.8 million (4%).

The company operates through the following segments: Land Development and Sales, Leasing, and Resort Amenities.

Land Development and Sales: This segment includes land planning, entitlement, development, construction, and sales activities focused on the Kapalua Resort a master planned destination resort and residential community It oversees residential, resort, commercial, agricultural, and industrial real estate projects across West Maui, and Upcountry Maui.
Leasing: This segment comprises commercial, industrial, and agricultural leases of land and property licensing of Kapalua, and Maui Gold trademarks operation of potable, and non potable water systems serving the Kapalua Resort, the County of Maui, and agricultural users and stewardship of conservation areas such as the Puu Kukui Watershed Preserve.
Resort Amenities: This segment operates the Kapalua Club a private non equity club that provides members with special programs, access, and privileges to amenities including a full service spa and fitness center, a private pool side dining beach club, and two 18 hole championship golf courses.

Within Hawaii's real estate and hospitality sectors Maui Land & Pineapple Company holds a distinctive position due to its extensive land holdings in West Maui which offer proximity to beaches, and mountains and provide many parcels with unobstructed ocean views The company benefits from strong brand recognition associated with the Kapalua name its water rights and its conservation stewardship which differentiate it from other developers, and property owners It faces competition from landowners, developers, resort operators, and hotel chains operating on Maui, and elsewhere in Hawaii.

The company serves a diverse customer base that includes homebuyers, residential tenants, commercial and retail tenants, agricultural lessees, water utility customers, and members of the Kapalua Club who seek access to resort amenities and recreational facilities.

How Maui Land & Pineapple ranks

Ranked against the 41 companies in Property Developers58 metrics · as of Nov 6, 2026

Valuation

12 metrics · Lower multiples rank higher; a negative multiple ranks last

P/ENegative earnings −61.3xMedian 7.36x 35^th
P/FCFNegative free cash flow −34.6xMedian 5.56x 60^th
P/Operating cash flow 796xMedian 22.7x 45^th
P/S 17.5xMedian 4.94x 14^th
P/B 9.12xMedian 0.54x 3^rd
P/Tangible book 9.12xMedian 0.60x 3^rd
EV/EBITDA —Median 11.2x No data —
EV/EBITNegative EBIT −49.1xMedian 14.4x 31^st
EV/Revenue 17.9xMedian 7.19x 18^th
EV/FCFNegative free cash flow −35.2xMedian 9.60x 48^th
EV/Operating cash flow 810xMedian 25.9x 39^th
PEG (3Y EPS CAGR)Negative earnings −2.47Median 0.54 Not meaningful —

Growth

14 metrics · Year-on-year growth and three-year compound annual growth

Revenue growth (1Y) −4.1%Median 8.0% 31^st
Revenue CAGR (3Y) 19.4%Median 5.1% 84^th
Gross profit growth (1Y) 17.6%Median 10.7% 59^th
Gross profit CAGR (3Y) 9.0%Median 9.4% 46^th
Operating income growth (1Y) 10.5%Median 12.3% 48^th
Operating income CAGR (3Y) −21.8%Median 13.4% 14^th
Net income growth (1Y) 10.5%Median 12.8% 49^th
Net income CAGR (3Y) 18.5%Median 7.9% 66^th
EPS growth (1Y) 67.6%Median 23.3% 56^th
EPS CAGR (3Y) 24.8%Median 14.5% 54^th
Operating cash flow growth (1Y) 78.9%Median 6.9% 75^th
Operating cash flow CAGR (3Y) 27.2%Median 2.3% 79^th
Free cash flow growth (1Y) −94.9%Median −4.7% 34^th
Free cash flow CAGR (3Y) −9.2%Median −26.2% 54^th

Profitability

14 metrics · Margins, returns on capital and the quality of earnings

Gross margin 58.0%Median 24.8% 78^th
EBITDA margin —Median 10.9% No data —
Operating margin −36.3%Median −8.9% 35^th
Pretax margin −36.3%Median 8.5% 27^th
Net margin −28.6%Median 8.2% 26^th
FCF margin −50.7%Median −23.7% 40^th
Operating cash flow margin 2.2%Median 5.4% 43^rd
Return on equity −18.6%Median 2.5% 19^th
Return on assets −12.0%Median 0.9% 22^nd
Return on invested capital —Median 0.8% No data —
Return on capital employed −13.9%Median −6.1% 31^st
Asset turnover 0.33xMedian 0.10x 77^th
Cash conversion (OCF / net income)Net income is not positive −0.06xMedian 0.47x Not meaningful —
Stock comp / revenue —Median 2.7% No data —

Financial Health

11 metrics · Leverage, liquidity and solvency; less debt ranks higher

Debt / assets 17.1%Median 28.9% 72^nd
Debt / equity 0.27xMedian 0.45x 65^th
Net debt / EBITDA —Median 3.19x No data —
Debt / FCFFree cash flow is not positive −1.04xMedian 2.81x Not meaningful —
Liabilities / assets 37.4%Median 44.3% 61^st
Equity / assets 62.6%Median 55.7% 61^st
Interest coverage —Median 0.78x No data —
Current ratio 1.17xMedian 1.68x 27^th
Quick ratio 0.76xMedian 1.20x 41^st
Cash ratio 0.50xMedian 0.54x 46^th
Altman Z-score 6.99Median 0.65 81^st

S.No.	Ticker	Company	Market Cap	P/E	P/S	Total Debt (Qtr)
1	TPL	Texas Pacific Land Corp	19.50 Bn	33.20	20.15	-
2	HHH	Howard Hughes Holdings Inc.	4.91 Bn	28.63	1.87	5.70 Bn
3	MRP	Millrose Properties, Inc.	4.40 Bn	8.79	5.56	3.13 Bn
4	JOE	ST JOE Co	4.11 Bn	33.92	7.58	-
5	VTMX	Vesta Real Estate Corporation, S.A.B. de C.V.	3.24 Bn	6.63	10.40	1.07 Bn
6	LB	LandBridge Corp	1.91 Bn	21.82	8.46	0.54 Bn
7	OPEN	Opendoor Technologies Inc.	1.29 Bn	-0.78	0.38	2.42 Bn
8	MLP	Maui Land & Pineapple Co Inc	0.31 Bn	-66.41	19.02	0.01 Bn

S.No.

Ticker

Company

Market Cap

P/E

P/S

Total Debt (Qtr)

TPL

Texas Pacific Land Corp

19.50 Bn

33.20

20.15

HHH

Howard Hughes Holdings Inc.

4.91 Bn

28.63

1.87

5.70 Bn

MRP

Millrose Properties, Inc.

4.40 Bn

8.79

5.56

3.13 Bn

JOE

ST JOE Co

4.11 Bn

33.92

7.58

VTMX

Vesta Real Estate Corporation, S.A.B. de C.V.

3.24 Bn

6.63

10.40

1.07 Bn

LandBridge Corp

1.91 Bn

21.82

8.46

0.54 Bn

OPEN

Opendoor Technologies Inc.

1.29 Bn

-0.78

0.38

2.42 Bn

MLP

Maui Land & Pineapple Co Inc

0.31 Bn

-66.41

19.02

0.01 Bn

Maui Land & Pineapple MLP

About

Segments Breakdown of Revenue (2025)

Consolidation Items Breakdown of Revenue (2025)

How Maui Land & Pineapple ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

Maui Land & Pineapple MLP

About

Segments Breakdown of Revenue (2025)

Consolidation Items Breakdown of Revenue (2025)

How Maui Land & Pineapple ranks

Valuation

Growth

Profitability

Financial Health

Shareholder Returns

Peer Comparison

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