FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - NYSE:FPI - US31154R1095 - REIT
10.63 USD
-0.07 (-0.65%)
Overall FPI gets a fundamental rating of 5 out of 10. We evaluated FPI against 29 industry peers in the Specialized REITs industry. Both the profitability and the financial health of FPI get a neutral evaluation. Nothing too spectacular is happening here. FPI is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
FPI had positive earnings in the past year.
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.
In the past 5 years FPI always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 8.59%, FPI belongs to the best of the industry, outperforming 96.55% of the companies in the same industry.
With a decent Return On Equity value of 14.32%, FPI is doing good in the industry, outperforming 79.31% of the companies in the same industry.
FPI has a worse Return On Invested Capital (2.43%) than 68.97% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FPI is below the industry average of 4.79%.
The 3 year average ROIC (2.05%) for FPI is below the current ROIC(2.43%), indicating increased profibility in the last year.
| 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 has a Profit Margin of 121.26%. This is amongst the best in the industry. FPI outperforms 100.00% of its industry peers.
In the last couple of years the Profit Margin of FPI has grown nicely.
FPI has a Operating Margin of 42.97%. This is in the better half of the industry: FPI outperforms 65.52% of its industry peers.
FPI's Operating Margin has declined in the last couple of years.
FPI has a Gross Margin of 79.00%. This is in the better half of the industry: FPI outperforms 68.97% of its industry peers.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FPI is destroying value.
The number of shares outstanding for FPI has been reduced compared to 1 year ago.
FPI has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, FPI has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.03, we must say that FPI is in the distress zone and has some risk of bankruptcy.
FPI has a Altman-Z score (1.03) which 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.
FPI has a Debt to FCF ratio of 35.01. This is comparable to the rest of the industry: FPI outperforms 44.83% of its industry peers.
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 93.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.41 | ||
| Debt/FCF | 35.01 | ||
| Altman-Z | 1.03 |
ROIC/WACC0.29
WACC8.31%
2.3 Liquidity
A Current Ratio of 5.55 indicates that FPI has no problem at all paying its short term obligations.
FPI's Current ratio of 5.55 is amongst the best of the industry. FPI outperforms 96.55% of its industry peers.
A Quick Ratio of 5.29 indicates that FPI has no problem at all paying its short term obligations.
FPI's Quick ratio of 5.29 is amongst the best of the industry. FPI outperforms 96.55% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.55 | ||
| Quick Ratio | 5.29 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 348.57% over the past year.
Measured over the past years, FPI shows a very strong growth in Earnings Per Share. The EPS has been growing by 90.67% on average per year.
The Revenue has decreased by -2.90% in the past 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)348.57%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%833.33%
Revenue 1Y (TTM)-2.9%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-12.98%
3.2 Future
FPI is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -44.26% yearly.
FPI is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -10.87% yearly.
EPS Next Y-70.66%
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
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 6.77, which indicates a rather cheap valuation of FPI.
Based on the Price/Earnings ratio, FPI is valued cheaper than 100.00% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.86, FPI is valued rather cheaply.
The Price/Forward Earnings ratio is 63.79, which means the current valuation is very expensive for FPI.
FPI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. FPI is more expensive than 65.52% of the companies in the same industry.
FPI is valuated expensively when we compare the Price/Forward Earnings ratio to 23.32, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.77 | ||
| Fwd PE | 63.79 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FPI is valued a bit more expensive than the industry average as 65.52% of the companies are valued more cheaply.
72.41% of the companies in the same industry are cheaper than FPI, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 85.27 | ||
| EV/EBITDA | 21.46 |
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
With a Yearly Dividend Yield of 2.24%, FPI has a reasonable but not impressive dividend return.
With a Dividend Yield of 2.24, FPI pays less dividend than the industry average, which is at 6.05. 93.10% of the companies listed in the same industry pay a better dividend than FPI!
Compared to an average S&P500 Dividend Yield of 2.44, FPI has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.24% |
5.2 History
The dividend of FPI decreases each year by -3.18%.
FPI has paid a dividend for at least 10 years, which is a reliable track record.
FPI has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)-3.18%
Div Incr Years3
Div Non Decr Years5
5.3 Sustainability
FPI pays out 100.83% of its income as dividend. 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%
NYSE:FPI (10/6/2025, 11:50:58 AM)
10.63
-0.07 (-0.65%)
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 Change0%
Ins Owners7.65%
Ins Owner Change0.55%
Market Cap469.42M
Analysts77.5
Price Target12.5 (17.59%)
Short Float %5.76%
Short Ratio6.04
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.24% |
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)0%
PT rev (3m)1.03%
EPS NQ rev (1m)-9.09%
EPS NQ rev (3m)114.32%
EPS NY rev (1m)14.37%
EPS NY rev (3m)69.44%
Revenue NQ rev (1m)-3.22%
Revenue NQ rev (3m)-6.71%
Revenue NY rev (1m)-0.96%
Revenue NY rev (3m)-0.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.77 | ||
| Fwd PE | 63.79 | ||
| P/S | 8.53 | ||
| P/FCF | 85.27 | ||
| P/OCF | 32.33 | ||
| P/B | 1.01 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | 21.46 |
EPS(TTM)1.57
EY14.77%
EPS(NY)0.17
Fwd EY1.57%
FCF(TTM)0.12
FCFY1.17%
OCF(TTM)0.33
OCFY3.09%
SpS1.25
BVpS10.54
TBVpS10.45
PEG (NY)N/A
PEG (5Y)0.07
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%
ROICexcg growth 3Y31.14%
ROICexcg 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 | 1.03 |
F-Score7
WACC8.31%
ROIC/WACC0.29
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)348.57%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%833.33%
EPS Next Y-70.66%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.9%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-12.98%
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%