BP

Belpointe PREP, LLC

OZ·AMEX

$47.25

-1.4%
Real EstateReal Estate - Development

Belpointe PREP, LLC focuses on identifying, acquiring, developing or redeveloping, and managing commercial real estate properties in the United States. It also intends to invest in and manage a real estate-related assets, including commercial real estate loans and mortgages; and debt and equity securities issued by other real estate-related companies, as well as private equity acquisitions and investments and opportunistic acquisitions of other qualified opportunity funds and qualified opportunity zone businesses. Belpointe PREP, LLC was incorporated in 2020 and is based in Greenwich, Connecticut.

At a Glance

Live Snapshot
Market Cap$184.19M
EPS-10.7200
P/E Ratio-4.41
Earnings Date05/12/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

Medium confidence

Valuation multiple is compressed (P/E -4.4).

Valuation inputs: P/E -4.4, earnings yield N/A, momentum -1.4%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE -14.7%, ROIC -68.6%).

Profitability stack: net margin -4.4%, ROE -14.7%, ROIC -68.6%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +51.2%, momentum -1.4%, net margin -4.4%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

o

Belpointe PREP, LLC Market vs Earnings Trajectory

OZ · AMEX

Loading price and EPS data...

BP

Belpointe PREP, LLC Fair Value Envelope

OZ · AMEX

Our analysis suggests that OZ has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $47.2502, this represents a potential HIDDEN relative to our calculated worth for Belpointe PREP, LLC.

Intrinsic Value
Current Price: $47.2502
3Y+376.0%
5Y-100.0%
10Y-100.0%
3Y+560.0%
5Y+8996.0%
10Y+8996.0%
3Y+421.0%
5Y+35655.0%
10Y+35655.0%
3Y+279.0%
5Y+209967.0%
10Y+209967.0%
3Y-144.0%
5Y+209967.0%
10Y+209967.0%
3Y+59.0%
5Y+1413.0%
10Y+1413.0%
BP

Belpointe PREP, LLC Profit Bridge

OZ · AMEX
Revenue9.19M
Cost of Goods Sold (32.38M)
Gross Profit-23.19M
Operating Expenses (-2.51M)
Operating Income-20.68M
Interest Expense (17.44M)
Other Income/Expense-19.39M
Pretax Income-40.07M
Income Tax (0.00)
Net Income-40.05M
Net Income
-40.05M

Profitability Analysis

Gross Margin

-252.5%

Negative gross margin indicates the company is losing money on each sale—unsustainable long-term.

Operating Margin

-225.1%

Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.

Net Profit Margin

-435.9%

Net losses indicate the company is burning cash. Sustainability depends on path to profitability.

Profitability Insight

High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.

-252.45%
Gross Profit Margin
62%
3Y+45.0%
5Y-581.0%
10Y-581.0%
-225.14%
Operating Profit Margin
-55%
3Y-67.0%
5Y+121.0%
10Y+121.0%
-435.90%
Net Profit Margin
-51%
3Y-21.0%
5Y+293.0%
10Y+293.0%
-14.67%
Return on Equity
86%
3Y+529.0%
5Y-113.0%
10Y-113.0%
-7.10%
Return on Assets
54%
3Y+227.0%
5Y+2263.0%
10Y+2263.0%
-68.59%
Return on Invested Capital
2365%
3Y+2351.0%
5Y+24137.0%
10Y+24137.0%
O

Belpointe PREP, LLC Cash Conversion Engine

OZ · AMEX
Net Income-40.07M
Depreciation & Amortization10.78M
Stock-Based Compensation0.00
Change in Working Capital1.09M
Others2.99M
Capital Expenditures0.00
Free Cash Flow-25.21M

Cash Flow Quality Analysis

FCF Conversion Rate

62.9%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

FCF Growth Trend

-84.1%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$1.09M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

o

Belpointe PREP, LLC Funding & Solvency Profile

OZ · AMEX
Cash & Cash Equivalents19.57M
Net Receivables0.00
Inventory0.00
Other Current Assets0.00
Total Current Assets20 M
Property, Plant & Equipment0.00
Goodwill & Intangible Assets8.20M
Long-Term Investments0.00
Other Non-Current Assets0.00
Total Non-Current Assets0
Total Assets
565.74M

Financial Health Analysis

Current Ratio

5.57x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

1.13x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

16 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

3% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

o

Belpointe PREP, LLC Street Expectations Map

OZ · AMEX

No Target Data

No analyst price targets available for oz.

o

Belpointe PREP, LLC Insider Positioning

OZ · AMEX

During the last 12 months, there has been no insider trading activity reported for OZ.

3 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

No buying activity

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Neutral

No insider trading activity reported. This could indicate blackout periods, lack of conviction, or regulatory restrictions.

Insider Participation

No Activity

No insider trading activity reported from any insiders in the past year.

No Dividend Yield Data

OZ has not reported any dividend yield values in the available annual periods.

 

oz Dividend History

OZ
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%