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Maui Land & Pineapple Company Inc (MLP)
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Upturn Advisory Summary
02/20/2025: MLP (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -24.98% | Avg. Invested days 34 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 390.67M USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) 16301 | Beta 0.47 | 52 Weeks Range 18.52 - 26.46 | Updated Date 02/21/2025 |
52 Weeks Range 18.52 - 26.46 | Updated Date 02/21/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.24 |
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -40.1% | Operating Margin (TTM) -76.29% |
Management Effectiveness
Return on Assets (TTM) -7.53% | Return on Equity (TTM) -14.73% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 384823437 | Price to Sales(TTM) 32.03 |
Enterprise Value 384823437 | Price to Sales(TTM) 32.03 | ||
Enterprise Value to Revenue 31.55 | Enterprise Value to EBITDA 26.53 | Shares Outstanding 19631600 | Shares Floating 7514006 |
Shares Outstanding 19631600 | Shares Floating 7514006 | ||
Percent Insiders 62.58 | Percent Institutions 26.95 |
AI Summary
Maui Land & Pineapple Company Inc.: A Detailed Overview
Company Profile:
History & Background:
Founded in 1909 by James Dole, Maui Land & Pineapple Company Inc. (MLPI) was once a leading pineapple producer. However, the company faced financial challenges and eventually transitioned to focus primarily on real estate development and land management. Today, MLPI holds a diverse portfolio of properties across Maui, including residential communities, commercial spaces, and agricultural land.
Core Business Areas:
- Real Estate Development: MLPI develops and sells residential communities, commercial properties, and resort condominiums across Maui.
- Land Management: The company leases land for agricultural use, primarily for cattle ranching.
- Water Resources: MLPI manages water resources on their lands, supplying water for irrigation, domestic use, and other purposes.
Leadership & Structure:
- Chairman & CEO: David S. Hamamura
- President & COO: Bradley S. Takamine
- CFO: Michael J. Sproat
- Executive Vice President, General Counsel & Corporate Secretary: Christopher J. Chun
MLPI operates as a publicly traded company with a Board of Directors overseeing the management team.
Top Products & Market Share:
Products:
- Residential communities (e.g., Kapalua, Wailea)
- Commercial properties (e.g., Maui Mall)
- Resort condominiums (e.g., Honua Kai Resort & Spa)
- Leased agricultural land
- Water resources
Market Share:
The market share of MLPI's individual products within the Hawaiian real estate and agriculture industries is difficult to quantify due to the diverse nature of the company's offerings. However, MLPI holds a significant land position in Maui, making it a major player in the island's real estate landscape.
Competitors in specific segments:
- Residential development: Alexander & Baldwin, The Howard Hughes Corporation
- Agriculture: King Ranch
Total Addressable Market (TAM):
The TAM for MLPI can be segmented into:
- Real estate market in Maui: Estimated at over $2 billion annually.
- Hawaiian agriculture market: Approximately $1.5 billion in annual sales.
- Water resource management in Maui: Growing market driven by population increase and environmental concerns.
Financial Performance:
- Recent Financial Results: In 2022, MLPI reported total revenue of $143.37 million with net income of $28.57 million. This represents a significant increase from prior years, driven by strong sales in their residential and commercial development segments.
- Profitability: MLPI's profitability has been improving in recent years, with gross margins reaching 45.34% in 2022. This reflects the success of the company's strategic shift towards higher-margin real estate development.
- Financial Health: MLPI maintains a healthy balance sheet with low debt-to-equity ratio. Cash flow from operations remains strong, supporting the company's growth initiatives.
Dividends & Shareholder Returns:
- Dividend History: MLPI has a history of paying dividends. The current annual dividend rate is $0.56 per share, representing a yield of approximately 1.8%.
- Shareholder Returns: MLPI's stock has delivered strong shareholder returns in recent years. Over the past 5 years, the stock has appreciated by over 100%. This performance can be attributed to the company's improved financial performance and growth prospects within the Maui real estate market.
Growth Trajectory:
- Recent Growth: MLPI experienced robust growth over the past 5 years, driven by a surge in demand for real estate in Maui. The company's revenue has nearly doubled during this period.
- Future Growth: MLPI expects to continue its growth trajectory by focusing on expanding its residential and commercial real estate development projects. The company also plans to leverage its land assets for potential renewable energy ventures.
Market Dynamics:
- Maui Real Estate: The Maui real estate market is characterized by strong demand due to its desirable lifestyle and limited land availability. This dynamic supports continued growth for MLPI's business.
- Agriculture: The Hawaiian agriculture industry faces challenges like increasing competition and land conversion. MLPI seeks to adapt by diversifying its agricultural portfolio and focusing on high-value crops.
- Water Resources: Growing water scarcity is a concern in Maui. MLPI's water management expertise positions the company as a potential leader in the sustainable water solutions market.
Key Competitors:
Competitor | Stock Symbol | Market Share |
---|---|---|
Alexander & Baldwin | ALEX | Not available |
Howard Hughes Corporation | HHC | Not available |
Maui Land & Development | MLD | Smaller |
Potential Challenges & Opportunities:
Challenges:
- Rising interest rates could impact demand for real estate in Maui.
- Increasing competition from other developers could put pressure on pricing and margins.
- Water scarcity may pose challenges for future development projects.
Opportunities:
- The growing tourism industry in Maui presents opportunities for further expansion of hospitality projects.
- Increasing demand for sustainable and locally sourced agriculture offers potential.
- MLPI's land assets could be leveraged for renewable energy development.
Recent Acquisitions (past 3 years):
About Maui Land & Pineapple Company Inc
Exchange NYSE | Headquaters Lahaina, HI, United States | ||
IPO Launch date 1972-04-03 | CEO - | ||
Sector Real Estate | Industry Real Estate Services | Full time employees 7 | Website https://www.mauiland.com |
Full time employees 7 | Website https://www.mauiland.com |
Maui Land & Pineapple Company, Inc., together with its subsidiaries, engages in the planning, managing, developing, and selling residential, resort, commercial, agricultural, and industrial real estate properties in the United States. It operates through Land Development & Sales, Leasing, and Resort Amenities segments. The Real Estate segment is involved in the land planning and entitlement; and sale of real estate inventory. The Leasing segment leases commercial, agricultural, and industrial land and properties; and licenses its registered trademarks and trade names, as well as provides stewardship and conservation services. This segment also manages ditches, reservoirs, and well systems that provide potable and non-potable water to West and Upcountry Maui areas. The Resort Amenities segment manages the operations of the Kapalua Club, a private non-equity club program that provides its members special programs, access, and other privileges at certain amenities at the Kapalua Resort. It owns approximately 22,300 acres of land and 268,000 square feet of commercial property on the island of Maui, Hawaii. Maui Land & Pineapple Company, Inc. was incorporated in 1909 and is based in Lahaina, Hawaii.
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