FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
9.83 USD
+0.11 (+1.13%)
9.83 USD
0 (0%)
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. FPI has only an average score on both its financial health and profitability. FPI has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year FPI was profitable.
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.
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 8.87%, FPI belongs to the best of the industry, outperforming 96.67% of the companies in the same industry.
The Return On Equity of FPI (14.58%) is better than 80.00% of its industry peers.
FPI has a Return On Invested Capital of 2.43%. This is in the lower half of the industry: FPI underperforms 66.67% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for FPI is below the industry average of 4.77%.
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 | 8.87% | ||
| ROE | 14.58% | ||
| 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
With an excellent Profit Margin value of 123.81%, FPI belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
FPI's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 42.35%, FPI is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
In the last couple of years the Operating Margin of FPI has declined.
FPI's Gross Margin of 78.72% is fine compared to the rest of the industry. FPI outperforms 70.00% of its industry peers.
FPI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.35% | ||
| PM (TTM) | 123.81% | ||
| GM | 78.72% |
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.
Compared to 1 year ago, FPI has less shares outstanding
Compared to 5 years ago, FPI has more shares outstanding
The debt/assets ratio for FPI has been reduced compared to a year ago.
2.2 Solvency
FPI has an Altman-Z score of 0.92. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
FPI has a Altman-Z score (0.92) which is in line with its industry peers.
The Debt to FCF ratio of FPI is 23.33, which is on the high side as it means it would take FPI, 23.33 years of fcf income to pay off all of its debts.
FPI's Debt to FCF ratio of 23.33 is in line compared to the rest of the industry. FPI outperforms 46.67% of its industry peers.
FPI has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
FPI has a better Debt to Equity ratio (0.38) than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 0.92 |
ROIC/WACC0.3
WACC8.2%
2.3 Liquidity
A Current Ratio of 2.09 indicates that FPI has no problem at all paying its short term obligations.
FPI has a Current ratio of 2.09. This is amongst the best in the industry. FPI outperforms 86.67% of its industry peers.
FPI has a Quick Ratio of 1.88. This is a normal value and indicates that FPI is financially healthy and should not expect problems in meeting its short term obligations.
FPI has a Quick ratio of 1.88. This is amongst the best in the industry. FPI outperforms 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.09 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 423.33% over the past year.
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 decreased by -9.27% in the past year.
FPI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.68% yearly.
EPS 1Y (TTM)423.33%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%0%
Revenue 1Y (TTM)-9.27%
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
The Revenue is expected to decrease by -10.87% on average over the next years. This is quite bad
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 6.26.
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 26.11, FPI is valued rather cheaply.
With a Price/Forward Earnings ratio of 58.99, FPI can be considered very expensive at the moment.
FPI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. FPI is more expensive than 66.67% of the companies 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 36.21.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.26 | ||
| Fwd PE | 58.99 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 66.67% of the companies listed in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as FPI.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 58.19 | ||
| EV/EBITDA | 21.37 |
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 2.46%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 2.46, FPI pays less dividend than the industry average, which is at 6.00. 86.67% 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 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.46% |
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
102.25% 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.
DP102.25%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
9.83
+0.11 (+1.13%)
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-6.3%
Ins Owners7.65%
Ins Owner Change0.44%
Market Cap423.67M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.5 (27.16%)
Short Float %6.79%
Short Ratio5.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.46% |
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP102.25%
Div Incr Years3
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6461%
Min EPS beat(2)-60.4%
Max EPS beat(2)12982.4%
EPS beat(4)2
Avg EPS beat(4)3316.13%
Min EPS beat(4)-60.4%
Max EPS beat(4)12982.4%
EPS beat(8)5
Avg EPS beat(8)1690.62%
EPS beat(12)7
Avg EPS beat(12)1189.33%
EPS beat(16)10
Avg EPS beat(16)916.18%
Revenue beat(2)2
Avg Revenue beat(2)3.49%
Min Revenue beat(2)1.81%
Max Revenue beat(2)5.17%
Revenue beat(4)4
Avg Revenue beat(4)4.68%
Min Revenue beat(4)1.81%
Max Revenue beat(4)6.97%
Revenue beat(8)5
Avg Revenue beat(8)2.27%
Revenue beat(12)5
Avg Revenue beat(12)-0.85%
Revenue beat(16)9
Avg Revenue beat(16)1.78%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.33%
EPS NY rev (1m)0%
EPS NY rev (3m)35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.24%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.26 | ||
| Fwd PE | 58.99 | ||
| P/S | 8 | ||
| P/FCF | 58.19 | ||
| P/OCF | 25.15 | ||
| P/B | 0.94 | ||
| P/tB | 0.95 | ||
| EV/EBITDA | 21.37 |
EPS(TTM)1.57
EY15.97%
EPS(NY)0.17
Fwd EY1.7%
FCF(TTM)0.17
FCFY1.72%
OCF(TTM)0.39
OCFY3.98%
SpS1.23
BVpS10.43
TBVpS10.33
PEG (NY)N/A
PEG (5Y)0.07
Graham Number19.19
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.87% | ||
| ROE | 14.58% | ||
| ROCE | 3.08% | ||
| ROIC | 2.43% | ||
| ROICexc | 2.48% | ||
| ROICexgc | 2.49% | ||
| OM | 42.35% | ||
| PM (TTM) | 123.81% | ||
| GM | 78.72% | ||
| FCFM | 13.75% |
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-Score8
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Debt/EBITDA | 6.31 | ||
| Cap/Depr | 212.39% | ||
| Cap/Sales | 18.07% | ||
| Interest Coverage | 1.63 | ||
| Cash Conversion | 62.58% | ||
| Profit Quality | 11.11% | ||
| Current Ratio | 2.09 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 0.92 |
F-Score8
WACC8.2%
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)423.33%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%0%
EPS Next Y-65.37%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.27%
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-13.87%
EBIT growth 3Y14.77%
EBIT growth 5Y-0.65%
EBIT Next Year13.12%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y125.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y20.16%
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 4 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Fairly Valued.
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 5 / 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.