FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - NYSE:FPI - US31154R1095 - REIT
10.05 USD
-0.07 (-0.69%)
Taking everything into account, FPI scores 5 out of 10 in our fundamental rating. FPI was compared to 30 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.
FPI had a positive operating cash flow in the past year.
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.
FPI has a better Return On Equity (14.32%) than 80.00% of its industry peers.
The Return On Invested Capital of FPI (2.43%) is worse than 66.67% of its industry peers.
FPI had an Average Return On Invested Capital over the past 3 years of 2.05%. This is below the industry average of 4.81%.
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 better Profit Margin (121.26%) than 100.00% of its industry peers.
FPI's Profit Margin has improved in the last couple of years.
With a decent Operating Margin value of 42.97%, FPI is doing good in the industry, outperforming 63.33% of the companies in the same industry.
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
FPI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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.
FPI has a better debt/assets ratio than last year.
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.
Looking at the Altman-Z score, with a value of 0.98, FPI is in line with its industry, outperforming 50.00% of the companies in the same 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 (35.01) which is in line with 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 93.33% 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
WACC8.24%
2.3 Liquidity
A Current Ratio of 5.55 indicates that FPI has no problem at all paying its short term obligations.
The Current ratio of FPI (5.55) is better than 96.67% of its industry peers.
FPI has a Quick Ratio of 5.29. This indicates that FPI is financially healthy and has no problem in meeting its short term obligations.
FPI has a Quick ratio of 5.29. This is amongst the best in the industry. FPI outperforms 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.
FPI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 90.67% yearly.
The Revenue has been growing slightly by 1.32% in the past year.
The Revenue has been growing slightly by 1.68% on average over the past years.
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
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-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
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
With a Price/Earnings ratio of 6.48, the valuation of FPI can be described as very cheap.
Based on the Price/Earnings ratio, FPI is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of FPI to the average of the S&P500 Index (26.51), we can say FPI is valued rather cheaply.
With a Price/Forward Earnings ratio of 60.31, FPI can be considered very expensive at the moment.
66.67% of the companies in the same industry are cheaper than FPI, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of FPI to the average of the S&P500 Index (22.53), we can say FPI is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.48 | ||
| Fwd PE | 60.31 |
4.2 Price Multiples
60.00% of the companies in the same industry are cheaper than FPI, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, FPI is valued a bit more expensive than 70.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 80.62 | ||
| EV/EBITDA | 20.57 |
4.3 Compensation for Growth
FPI has a very decent profitability rating, which may justify a higher PE ratio.
FPI's earnings are expected to decrease with -44.26% in the coming years. This may justify a cheaper valuation.
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 2.39%, FPI has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.97, FPI's dividend is way lower than its industry peers. On top of this 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 paid a dividend for at least 10 years, which is 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
FPI pays out 100.83% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of FPI has been decling, while earnings will also be 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 (11/4/2025, 11:39:57 AM)
10.05
-0.07 (-0.69%)
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 Cap443.81M
Revenue(TTM)58.23M
Net Income(TTM)66.70M
Analysts77.5
Price Target12.5 (24.38%)
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 | 6.48 | ||
| Fwd PE | 60.31 | ||
| P/S | 8.07 | ||
| P/FCF | 80.62 | ||
| P/OCF | 30.57 | ||
| P/B | 0.95 | ||
| P/tB | 0.96 | ||
| EV/EBITDA | 20.57 |
EPS(TTM)1.55
EY15.42%
EPS(NY)0.17
Fwd EY1.66%
FCF(TTM)0.12
FCFY1.24%
OCF(TTM)0.33
OCFY3.27%
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
WACC8.24%
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.