At a glance
St Joe Company is worth $3.85B, about 34 times its fiscal 2025 earnings. Revenue grew 27.4% to $513.2M in fiscal 2025, with 22.5% kept as profit; over 5 years it has grown 26.2% a year. It pays a 0.94% dividend yield, raised every year for at least 6 years, and returned $195.6M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +35.7% over the past year with dividends reinvested and +8.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 27.6% in the 2020 crash (S&P 500: 33.7%) and 48.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 10 months after the lows.
The business in plain English
St. Joe, incorporated in Florida in 1936, develops, owns and runs real estate in Northwest Florida. As of December 31, 2025, it owned about 165,000 acres, roughly 90% of it within 15 miles of the Gulf. Part of that land sits in the Bay-Walton Sector Plan, which originally granted entitlements (legal rights to build) for over 170,000 homes, 22 million square feet of retail, commercial and industrial space, and 3,000 hotel rooms.
In the year ended December 31, 2025, revenue was $513 million. Hospitality brought in 43% of it. That covers the membership-based Watersound Club, with golf and a beach club, plus hotels, restaurants, shops, vacation rentals and marinas. Residential, at 32%, sells homesites (building lots) mainly to homebuilders. Commercial, at 23%, leases apartments, senior living, self-storage, medical, office, retail and industrial space. It also sells land and grows and sells timber. St. Joe also runs a real estate brokerage and title and insurance agencies.
St. Joe also works through joint ventures (businesses co-owned with partners). One builds and sells homes in Latitude Margaritaville Watersound, an active adult community of about 3,700 homes. St. Joe does not count revenue from ventures it does not control, like this one. It records only its share of their profit or loss. Results can swing because homebuilders purchase lots in sporadic batches, and hospitality revenue peaks in the second and third quarters.
Price history
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JOE +35.7% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Real Estate | $234.2M | 45.6% |
| Hospitality | $215.4M | 42% |
| Homebuilder Homesite Sales Lot Residuals | $10.9M | 2.1% |
| Homebuilder Homesite Sales Certain Products And Services | $2.8M | 0.5% |
By business segment
| Hospitality Segment | $220.7M | 43% |
| Residential Real Estate Segment | $165.1M | 32.2% |
| Commercial | $119.0M | 23.2% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $156.2M, down 3% from a year earlier, and net income was $36.9M (-4.6%).
- For fiscal 2025, revenue was $513.2M (+27.4% year over year; +26.2% a year from FY2020 to FY2025) with a 22.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +26.2% good |
|---|---|
| Operating margin | 28.5% good |
| Free cash flow margin | 36.4% good |
| Return on equity (FY2025) | 15.1% good |
| Return on assets (FY2025) | 7.6% watch |
| Net cash (cash minus debt) | $-243.8M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $160.6M | $45.2M | $31.6M |
| FY2021 | $267.0M | $74.6M | $107.5M |
| FY2022 | $252.3M | $70.9M | $40.9M |
| FY2023 | $389.3M | $77.7M | $97.7M |
| FY2024 | $402.7M | $74.2M | $100.2M |
| FY2025 | $513.2M | $115.6M | $186.6M |
Valuation snapshot
| Market value | $3.85B |
|---|---|
| P/E ratio | 34.2 |
| Dividend yield | 0.94% |
Rank among 1514 US companies
Market value at each year end
St Joe’s market value went from $1.41B at the end of 2016 to $3.85B on Oct 28, 2026, about 2.7 times as much; since the end of 2025 it is up 12%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.85B | +12.3% |
| 2025 | $3.43B | +30.7% |
| 2024 | $2.62B | -25.3% |
| 2023 | $3.51B | +55.8% |
| 2022 | $2.25B | -26.4% |
| 2021 | $3.06B | +22.6% |
| 2020 | $2.50B | +112.2% |
| 2019 | $1.18B | +47.4% |
| 2018 | $799.1M | -33.3% |
| 2017 | $1.20B | -15.3% |
| 2016 | $1.41B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| JOE price data to Oct 28, 2026 | +15.6% | +35.7% | +15.0% | +8.4% | +15.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +15.6% |
| 2025 | +33.7% |
| 2024 | -24.6% |
| 2023 | +57.1% |
| 2022 | -25.1% |
| 2021 | +23.5% |
| 2020 | +114.6% |
| 2019 | +50.6% |
| 2018 | -27.0% |
| 2017 | -5.0% |
| 2016 | +2.6% |
| 2015 | +0.7% |
| 2014 | -4.2% |
| 2013 | -16.9% |
| 2012 | +57.4% |
| 2011 | -32.9% |
| 2010 | -24.4% |
| 2009 | +18.8% |
| 2008 | -31.5% |
| 2007 | -33.0% |
| 2006 | -19.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 56.9% over that stretch · deepest drop along the way 66.7%, back to its old high 141.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 26.5% over that stretch · deepest drop along the way 27.6%, back to its old high 2.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 38.1% over that stretch · deepest drop along the way 48.4%, back to its old high 10 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (22 read): 0 open-market purchases and 27 sales ($82.3M).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 5, 2026 | Bruce R Berkowitz 10% owner | sell | $12.4M |
| May 6, 2026 | Bruce R Berkowitz 10% owner | sell | $10.8M |
| Jun 18, 2026 | Bruce R Berkowitz 10% owner | sell | $9.2M |
| Jun 15, 2026 | Bruce R Berkowitz 10% owner | sell | $6.2M |
| Jan 15, 2026 | Bruce R Berkowitz 10% owner | sell | $5.7M |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 6.72% | Mar 31, 2026 |
ETFs with the most weight in JOE
| XSLV Invesco S&P SmallCap Low Volatility ETF | 0.76% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 0.52% |
| OASC OneAscent Small Cap Core ETF | 0.51% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.51% |
| IJT iShares S&P Small-Cap 600 Growth ETF | 0.28% |
| CSA VictoryShares US Small Cap Volatility Wtd ETF | 0.28% |
| VIOG Vanguard S&P Small-Cap 600 Growth ETF | 0.27% |
| JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 0.27% |
What could go wrong
- Nearly everything sits in one coastal region. About 87% of its real estate is in three Florida counties, and roughly 90% of its land lies within 15 miles of the Gulf. A hurricane or local slowdown could hurt every segment at once.
- Heavy reliance on homebuilder customers. The residential segment sells homesites mainly to homebuilders, and the company flags concentration among them. If a major builder slows purchases or runs into trouble, lot sales could drop sharply.
- Uneven results and possible write-downs. Lot sales come in sporadic batches and commercial land sales tend not to recur, so results can swing. A downturn could force write-downs on the $1.0 billion of real estate held at December 31, 2025.
- One shareholder controls about a third. The largest shareholder controls approximately 33.8% of the common stock. That may limit how much smaller shareholders can influence corporate decisions.
- Insurance may cost more or fall short. Insurance costs on its hotels, clubs and rental properties could rise. Coverage may not fully pay for losses from events such as hurricanes, leaving St. Joe to absorb the difference.
- Mortgage rates can cool buyer demand. High interest rates, tighter lending standards or a shortage of mortgage loans make homes harder to finance. That can reduce demand for St. Joe's homesites and for homes in its communities.
Recent events
- Quarterly results released; Other company announcement
- Quarterly results released; Other company announcement
- Shareholder vote results
- Investor presentation or announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Quarterly results released; Other company announcement
- Quarterly results released; Other company announcement
For income and retirement investors
St. Joe pays a small but growing dividend. Since restarting it in 2020, the company has raised it every year, from $0.07 a share in 2020 to $0.58 in 2025. The 2025 dividends used 29% of earnings and 18% of free cash flow (cash left after capital spending). The yield was 0.94% as of October 28, 2026. That is little income on its own, so returns depend mostly on the share price. In 2025 St. Joe also spent $40.0 million buying back 798,622 shares. Shares outstanding fell 4% from February 2022 to October 2026. The board could cut or stop the dividend.
In past downturns the shares fell steeply. They lost 66.7% in the 2008 financial crisis and did not regain their March 2008 peak until December 2020. They fell 27.6% in the 2020 COVID crash and recovered by June 2020. They dropped 48.4% in the 2022 bear market and recovered by July 2023. A single stock carries more risk than a diversified fund.
Questions investors ask
How does St. Joe make money?
St. Joe earns money from three businesses in Northwest Florida. In the year ended December 31, 2025, hospitality brought in 43% of its $513 million revenue. That includes the Watersound Club, hotels, restaurants, vacation rentals and marinas. Residential, mostly selling homesites to homebuilders, brought in 32%. Commercial brought in 23%: it leases apartments, senior living, self-storage, office, retail and other property, sells land and grows timber. St. Joe also records its share of results from joint ventures, such as the Latitude Margaritaville Watersound community.
Does St. Joe raise its dividend every year?
Yes, every year since it restarted its dividend in 2020. Dividends per share rose from $0.07 in 2020 to $0.58 in 2025. That is an average gain of about 53% a year, from a very low starting point. In 2025 it paid $0.14 a share in each of the first three quarters and $0.16 in the fourth. The yield was 0.94% as of October 28, 2026. The board sets each dividend. The company says it cannot guarantee the current rate or that payments will continue.
How much land does St. Joe own?
About 165,000 acres as of December 31, 2025. That is down from 167,000 a year earlier and 168,000 two years earlier. All of it is in Northwest Florida. Roughly 87% of its real estate sits in Bay, Gulf and Walton counties, and about 90% of its land lies within 15 miles of the Gulf. Part of the land falls under the Bay-Walton Sector Plan, which originally granted rights to build more than 170,000 homes and 3,000 hotel rooms.
Is St. Joe still growing?
It grew quickly through 2025, but the latest quarter dipped slightly. Revenue rose from $160.6 million in 2020 to $513.2 million in 2025, about 26% a year. Net income for 2025 jumped 55.9% to $115.6 million. In the quarter ended September 30, 2026, revenue fell 3% from a year earlier to $156.2 million, and net income fell 4.6% to $36.9 million. As of October 28, 2026, the stock traded at 34.2 times 2025 earnings (its price-to-earnings ratio).
Are insiders buying or selling St. Joe stock?
Selling. From October 29, 2025, to October 29, 2026, insider filings show 27 sales worth about $82.3 million and no purchases. The largest sales were by Bruce R. Berkowitz, a 10% owner. They included about $12.4 million on May 5, 2026, and $10.8 million the next day. None were flagged as sales under prearranged trading plans. Insider sales happen for many reasons, such as taxes or diversification, so on their own they do not show what insiders think of the company.