FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - NYSE:FPI - US31154R1095 - REIT
9.89 USD
-0.23 (-2.27%)
9.89 USD
0 (0%)
FPI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. FPI has an average financial health and profitability rating. FPI does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year FPI was profitable.
In the past year FPI had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: FPI reported negative net income in multiple years.
Each year in the past 5 years FPI had a positive operating cash flow.
1.2 Ratios
FPI has a better Return On Assets (8.59%) than 96.67% of its industry peers.
The Return On Equity of FPI (14.32%) is better than 80.00% of its industry peers.
Looking at the Return On Invested Capital, with a value of 2.43%, FPI is doing worse than 66.67% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for FPI is below the industry average of 4.81%.
The last Return On Invested Capital (2.43%) for FPI is above the 3 year average (2.05%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.59% | ||
| ROE | 14.32% | ||
| ROIC | 2.43% |
ROA(3y)3.31%
ROA(5y)1.79%
ROE(3y)6.18%
ROE(5y)3.21%
ROIC(3y)2.05%
ROIC(5y)1.8%
1.3 Margins
FPI's Profit Margin of 121.26% is amongst the best of the industry. FPI outperforms 100.00% of its industry peers.
FPI's Profit Margin has improved in the last couple of years.
FPI has a Operating Margin of 42.97%. This is in the better half of the industry: FPI outperforms 63.33% of its industry peers.
In the last couple of years the Operating Margin of FPI has declined.
Looking at the Gross Margin, with a value of 79.00%, FPI is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
FPI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.97% | ||
| PM (TTM) | 121.26% | ||
| GM | 79% |
OM growth 3Y10.34%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5Y108.42%
GM growth 3Y-0.93%
GM growth 5Y-0.72%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FPI is destroying value.
The number of shares outstanding for FPI has been reduced compared to 1 year ago.
The number of shares outstanding for FPI has been increased compared to 5 years ago.
The debt/assets ratio for FPI has been reduced compared to a year ago.
2.2 Solvency
FPI has an Altman-Z score of 0.98. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of FPI (0.98) is comparable to the rest of the industry.
FPI has a debt to FCF ratio of 35.01. This is a negative value and a sign of low solvency as FPI would need 35.01 years to pay back of all of its debts.
With a Debt to FCF ratio value of 35.01, FPI perfoms like the industry average, outperforming 46.67% of the companies in the same industry.
FPI has a Debt/Equity ratio of 0.41. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.41, FPI belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | 35.01 | ||
| Altman-Z | 0.98 |
ROIC/WACC0.3
WACC8.25%
2.3 Liquidity
FPI has a Current Ratio of 5.55. This indicates that FPI is financially healthy and has no problem in meeting its short term obligations.
FPI has a Current ratio of 5.55. This is amongst the best in the industry. FPI outperforms 96.67% of its industry peers.
A Quick Ratio of 5.29 indicates that FPI has no problem at all paying its short term obligations.
FPI has a better Quick ratio (5.29) than 96.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.55 | ||
| Quick Ratio | 5.29 |
3. Growth
3.1 Past
FPI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 416.67%, which is quite impressive.
The Earnings Per Share has been growing by 90.67% on average over the past years. This is a very strong growth
Looking at the last year, FPI shows a small growth in Revenue. The Revenue has grown by 1.32% in the last year.
Measured over the past years, FPI shows a small growth in Revenue. The Revenue has been growing by 1.68% on average per year.
EPS 1Y (TTM)416.67%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%-100%
Revenue 1Y (TTM)1.32%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-15.51%
3.2 Future
The Earnings Per Share is expected to decrease by -44.26% on average over the next years. This is quite bad
Based on estimates for the next years, FPI will show a very negative growth in Revenue. The Revenue will decrease by -10.87% on average per year.
EPS Next Y-65.37%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
EPS Next 5YN/A
Revenue Next Year-15.83%
Revenue Next 2Y-10.87%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
FPI is valuated cheaply with a Price/Earnings ratio of 6.38.
Compared to the rest of the industry, the Price/Earnings ratio of FPI indicates a rather cheap valuation: FPI is cheaper than 100.00% of the companies listed in the same industry.
FPI is valuated cheaply when we compare the Price/Earnings ratio to 26.03, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 59.35, FPI can be considered very expensive at the moment.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 66.67% of the companies listed in the same industry.
FPI's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.38 | ||
| Fwd PE | 59.35 |
4.2 Price Multiples
FPI's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FPI is more expensive than 60.00% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 70.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 79.34 | ||
| EV/EBITDA | 20.57 |
4.3 Compensation for Growth
The decent profitability rating of FPI may justify a higher PE ratio.
A cheap valuation may be justified as FPI's earnings are expected to decrease with -44.26% in the coming years.
PEG (NY)N/A
PEG (5Y)0.07
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
5. Dividend
5.1 Amount
FPI has a Yearly Dividend Yield of 2.39%.
With a Dividend Yield of 2.39, FPI pays less dividend than the industry average, which is at 5.97. 83.33% of the companies listed in the same industry pay a better dividend than FPI!
FPI's Dividend Yield is comparable with the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.39% |
5.2 History
The dividend of FPI decreases each year by -3.18%.
FPI has been paying a dividend for at least 10 years, so it has a reliable track record.
As FPI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)-3.18%
Div Incr Years3
Div Non Decr Years5
5.3 Sustainability
100.83% of the earnings are spent on dividend by FPI. This is not a sustainable payout ratio.
FPI's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP100.83%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
9.89
-0.23 (-2.27%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners60.68%
Inst Owner Change-2.06%
Ins Owners7.65%
Ins Owner Change0.55%
Market Cap436.74M
Revenue(TTM)58.23M
Net Income(TTM)66.70M
Analysts77.5
Price Target12.5 (26.39%)
Short Float %6.06%
Short Ratio7.17
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.39% |
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP100.83%
Div Incr Years3
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6663.86%
Min EPS beat(2)345.32%
Max EPS beat(2)12982.4%
EPS beat(4)3
Avg EPS beat(4)3369.26%
Min EPS beat(4)-2.79%
Max EPS beat(4)12982.4%
EPS beat(8)5
Avg EPS beat(8)1697.49%
EPS beat(12)8
Avg EPS beat(12)1207.41%
EPS beat(16)10
Avg EPS beat(16)917.68%
Revenue beat(2)2
Avg Revenue beat(2)4.39%
Min Revenue beat(2)1.81%
Max Revenue beat(2)6.97%
Revenue beat(4)4
Avg Revenue beat(4)6.02%
Min Revenue beat(4)1.81%
Max Revenue beat(4)10.53%
Revenue beat(8)4
Avg Revenue beat(8)0.49%
Revenue beat(12)5
Avg Revenue beat(12)-0.06%
Revenue beat(16)8
Avg Revenue beat(16)0.91%
PT rev (1m)-2%
PT rev (3m)1.03%
EPS NQ rev (1m)0%
EPS NQ rev (3m)114.32%
EPS NY rev (1m)18.03%
EPS NY rev (3m)100%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.71%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.38 | ||
| Fwd PE | 59.35 | ||
| P/S | 7.94 | ||
| P/FCF | 79.34 | ||
| P/OCF | 30.08 | ||
| P/B | 0.94 | ||
| P/tB | 0.95 | ||
| EV/EBITDA | 20.57 |
EPS(TTM)1.55
EY15.67%
EPS(NY)0.17
Fwd EY1.69%
FCF(TTM)0.12
FCFY1.26%
OCF(TTM)0.33
OCFY3.32%
SpS1.25
BVpS10.54
TBVpS10.45
PEG (NY)N/A
PEG (5Y)0.07
Graham Number19.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.59% | ||
| ROE | 14.32% | ||
| ROCE | 3.08% | ||
| ROIC | 2.43% | ||
| ROICexc | 2.61% | ||
| ROICexgc | 2.62% | ||
| OM | 42.97% | ||
| PM (TTM) | 121.26% | ||
| GM | 79% | ||
| FCFM | 10.01% |
ROA(3y)3.31%
ROA(5y)1.79%
ROE(3y)6.18%
ROE(5y)3.21%
ROIC(3y)2.05%
ROIC(5y)1.8%
ROICexc(3y)2.15%
ROICexc(5y)1.87%
ROICexgc(3y)2.16%
ROICexgc(5y)1.88%
ROCE(3y)2.6%
ROCE(5y)2.28%
ROICexgc growth 3Y31.14%
ROICexgc growth 5Y7.77%
ROICexc growth 3Y31.05%
ROICexc growth 5Y7.64%
OM growth 3Y10.34%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5Y108.42%
GM growth 3Y-0.93%
GM growth 5Y-0.72%
F-Score7
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | 35.01 | ||
| Debt/EBITDA | 6.74 | ||
| Cap/Depr | 181.02% | ||
| Cap/Sales | 16.39% | ||
| Interest Coverage | 1.45 | ||
| Cash Conversion | 50.74% | ||
| Profit Quality | 8.25% | ||
| Current Ratio | 5.55 | ||
| Quick Ratio | 5.29 | ||
| Altman-Z | 0.98 |
F-Score7
WACC8.25%
ROIC/WACC0.3
Cap/Depr(3y)521.09%
Cap/Depr(5y)541.51%
Cap/Sales(3y)59.29%
Cap/Sales(5y)69.41%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)416.67%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%-100%
EPS Next Y-65.37%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
EPS Next 5YN/A
Revenue 1Y (TTM)1.32%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-15.51%
Revenue Next Year-15.83%
Revenue Next 2Y-10.87%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-4.18%
EBIT growth 3Y14.77%
EBIT growth 5Y-0.65%
EBIT Next Year13.12%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y125.68%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-19.33%
OCF growth 3Y27.11%
OCF growth 5Y-2.14%
FARMLAND PARTNERS INC / FPI FAQ
What is the ChartMill fundamental rating of FARMLAND PARTNERS INC (FPI) stock?
ChartMill assigns a fundamental rating of 5 / 10 to FPI.
Can you provide the valuation status for FARMLAND PARTNERS INC?
ChartMill assigns a valuation rating of 3 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Overvalued.
Can you provide the profitability details for FARMLAND PARTNERS INC?
FARMLAND PARTNERS INC (FPI) has a profitability rating of 6 / 10.
What is the financial health of FARMLAND PARTNERS INC (FPI) stock?
The financial health rating of FARMLAND PARTNERS INC (FPI) is 6 / 10.
Can you provide the expected EPS growth for FPI stock?
The Earnings per Share (EPS) of FARMLAND PARTNERS INC (FPI) is expected to decline by -65.37% in the next year.