MLP
Maui Land & Pineapple Company, Inc.Real Estate·Real Estate - Services
$16.93
$336M market cap
Revenue
$7.9M
Free Cash Flow
$1.6M
Rev Growth
+0.0%
FCF Margin
19.5%
P/FCF
217.4x
EV/FCF
219.6x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Maui Land & Pineapple Company, Inc., together with its subsidiaries, develops, manages, and sells residential, resort, commercial, agricultural, and industrial real estate properties in the United States. It operates through Real Estate, Leasing, and Resort Amenities segments. The Real Estate segment is involved in the land planning and entitlement, development, and sale of its landholdings on Maui. This segment also provides licensed general brokerage services for properties in the Kapalua Reso
2-Year Price History
$17.30-16.0%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 3.4 | -1.8 | -2.0 | -2.1 | -2.0 | -3.2 | -1.2 | 3.9 | 7.2 | 20.0 | -48.0% | -28.4x | -- |
| Act | 2025-Q4 | 4.5 | -0.5 | -1.7 | -1.2 | 3.7 | 4.8 | -1.1 | 5.3 | 4.7 | 20.0 | -43.9% | -1.2x | -- |
Valuation & Metrics
Market Stats
Price$16.93
Market Cap$336M
Enterprise Value$340M
P/S Ratio42.4x
P/FCF217.4x
EV/FCF219.6x
FCF Margin (TTM)19.5%
FCF Yield0.5%
Dividend Yield (TTM)0.7%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$7.9M
Net Income$-3.2M
Free Cash Flow$1.6M
Revenue Growth (YoY)+0.0%
EBITDA Margin-28.3%
Net Margin-40.8%
FCF Margin19.5%
CapEx % of Revenue28.9%
SBC % of Revenue0.0%
ROIC-46.0%
WC Change % Rev-20.3%
Interest Coverage-5.0x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.2M
Days to Cover12.4
Change (vs Prior)-0.3%
Need at least 2 settlement dates for chart
Employees
Headcount15
Revenue / Employee$528,667
Gross Profit / Employee$64,933
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
14.9%(-18.5% YoY)
55 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
6.6%(-1.9% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| VALUEWORKS LLC | $18.4M | $16.91 | −$71K | +$4.3M | +0.1% | $367M |
| TSP Capital Management Group, LLC | $17.0M | $13.81 | +$55K | +$3K | +1.1% | $410M |
| BlackRock, Inc.Passive | $8.4M | $22.41 | −$127K | −$478K | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $5.0M | $15.39 | +$5.0M | +$5.0M | — | $4.04T |
| Nokomis Capital, L.L.C. | $3.3M | $18.57 | +$1.2M | +$1.9M | +3.0% | $331M |
| OPPENHEIMER & CO INC | $3.0M | $16.94 | −$9K | −$22K | -0.1% | $8.20B |
| DIMENSIONAL FUND ADVISORS LPPassive | $2.5M | $11.93 | −$583K | −$2.1M | -0.4% | $480.92B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $2.4M | $15.53 | −$136K | −$262K | +2.3% | $1.61T |
| STATE STREET CORPPassive | $1.7M | $16.52 | +$11K | +$52K | -0.2% | $2.89T |
| RENAISSANCE TECHNOLOGIES LLC | $1.5M | $19.45 | −$63K | −$122K | +1.2% | $63.91B |
| Crawford Fund Management, LLC | $1.2M | $17.82 | −$213K | +$1.2M | -1.1% | $307M |
| RAYMOND JAMES FINANCIAL INC | $1.2M | $21.67 | +$26K | +$43K | -0.0% | $322.69B |
| NORTHERN TRUST CORPPassive | $848K | $14.77 | +$28K | −$127K | -0.2% | $755.34B |
| VANGUARD FIDUCIARY TRUST COPassive | $811K | $15.39 | +$811K | +$811K | — | $395.83B |
| NBC SECURITIES, INC. | $679K | $16.82 | −$40K | +$13K | -0.3% | $1.33B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $623K | $15.39 | +$623K | +$623K | — | $1.91T |
| CastleKnight Management LP | $485K | $15.75 | +$0 | +$0 | +1.2% | $2.13B |
| Nuveen, LLC | $444K | $17.94 | +$5K | +$286K | +0.0% | $368.63B |
| Spears Abacus Advisors LLC | $350K | $21.39 | +$0 | −$138K | +1.3% | $5.06B |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $342K | $9.47 | +$0 | −$5K | -2.3% | $4.93B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.51%
avg per quarter
Holders (ex-self)
+0.57%
excl. this stock
Buyers (this Q)
+2.18%
15 buyers · $0.01B in
Sellers (this Q)
+0.01%
23 sellers · $0.01B out
alpha coverage: 91% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+12.9%
how holders react when this stock falls
On quiet Qs
-0.0%
−10% to +10% baseline
On rallies (+10%+)
-6.9%
how they react when this stock rises
Holders' portfolio flow this Q
-4.2%
outflows — trims may be forced
Sellers' portfolio flow this Q
-2.8%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+0.8%
Holder mid (any stock)
-2.7%
Holder rally (any stock)
-5.5%
Biggest decreases this quarter
Journey Advisory Group, LLCexited−$1.2MCITADEL ADVISORS LLCexited−$609KDIMENSIONAL FUND ADVISORS LP−$583Kα-0.4Crawford Fund Management, LLC−$213Kα-1.1JANE STREET GROUP, LLCexited−$190KBANK OF AMERICA CORP /DE/exited−$146KGEODE CAPITAL MANAGEMENT, LLC−$136Kα+2.3BlackRock, Inc.−$127Kα-0.2VALUEWORKS LLC−$71Kα+0.1RENAISSANCE TECHNOLOGIES LLC−$63Kα+1.2
New buyers this quarter
Top-5 holders · 71.5%
VALUEWORKS LLC--
TSP Capital Management Group, LLC--
BlackRock, Inc.--
VANGUARD CAPITAL MANAGEMENT LLC--
Nokomis Capital, L.L.C.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FIRST HAWAIIAN BANK—TSP Capital Management Group, LLC1.1MVALUEWORKS LLC1.2MHerr Investment Group LLC—Comprehensive Financial Management LLC—OPPENHEIMER & CO INC194KJourney Advisory Group, LLC—Nokomis Capital, L.L.C.212KRENAISSANCE TECHNOLOGIES LLC97KRAYMOND JAMES & ASSOCIATES—
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$72K
2 txns · 1 insider · 5,000 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$1.22M
32 txns · 1 insider · 76,911 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2025-12-12 | BUY | CASE STEPHEN M | director, 10 percent owner: | 300 | $17.00 | $5K | $203.79M |
| 2025-12-11 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $16.79 | $84K | $201.27M |
| 2025-12-09 | BUY | CASE STEPHEN M | director, 10 percent owner: | 450 | $16.29 | $7K | $195.20M |
| 2025-12-08 | BUY | CASE STEPHEN M | director, 10 percent owner: | 3,000 | $16.38 | $49K | $196.27M |
| 2025-12-03 | BUY | CASE STEPHEN M | director, 10 percent owner: | 2,630 | $15.99 | $42K | $191.55M |
| 2025-12-02 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $15.94 | $80K | $190.90M |
| 2025-12-01 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $15.91 | $80K | $190.47M |
| 2025-11-28 | BUY | CASE STEPHEN M | director, 10 percent owner: | 400 | $15.47 | $6K | $185.12M |
| 2025-11-26 | BUY | CASE STEPHEN M | director, 10 percent owner: | 2,109 | $15.48 | $33K | $185.23M |
| 2025-11-25 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $15.36 | $77K | $183.77M |
| 2025-11-24 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $15.13 | $76K | $180.94M |
| 2025-11-21 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $14.29 | $71K | $170.82M |
| 2025-11-21 | BUY | Randle Race A. | officer: CEO | 2,000 | $14.48 | $29K | $820K |
| 2025-11-20 | BUY | CASE STEPHEN M | director, 10 percent owner: | 5,000 | $14.46 | $72K | $172.78M |
| 2025-11-20 | BUY | Randle Race A. | officer: CEO | 3,000 | $14.24 | $43K | $777K |
| 2025-11-19 | BUY | CASE STEPHEN M | director, 10 percent owner: | 2,500 | $14.48 | $36K | $172.95M |
| 2025-09-10 | BUY | CASE STEPHEN M | director, 10 percent owner: | 967 | $17.00 | $16K | $203.00M |
| 2025-09-09 | BUY | CASE STEPHEN M | director, 10 percent owner: | 2,500 | $16.96 | $42K | $202.51M |
| 2025-09-08 | BUY | CASE STEPHEN M | director, 10 percent owner: | 2,500 | $16.91 | $42K | $201.87M |
| 2025-09-04 | BUY | CASE STEPHEN M | director, 10 percent owner: | 264 | $16.99 | $4K | $2.04B |
Order Flow (FINRA, ~3w lag)
30.9%retail+2.1pp
12.0%dark-2.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Maui Land & Pineapple Co Inc: Vast Real Estate Value Entrapped in a Web of Legal Warfare and Impending Debt Cliffs
Overall Risk
7/10
Fraud
3/10
Dilution
4/10
Insolvency
6/10
Earnings Overstated
2/10
Hidden Liabilities
8/10
Legal
9/10
Audit Warnings
5/10
Hidden Upside
9/10
Contextually Acceptable
4/10