FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA • New York Stock Exchange • NYSE:FPI • US31154R1095
11.61 USD
+0.2 (+1.75%)
At close: Jan 30, 2026
11.6196 USD
+0.01 (+0.08%)
After Hours: 1/30/2026, 8:04:00 PM
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 correctly, but 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.
- In multiple years FPI reported negative net income over the last 5 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 (8.87%) than 96.67% of its industry peers.
- FPI has a better Return On Equity (14.58%) 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 63.33% 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 4.86%.
- 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
- FPI has a better Profit Margin (123.81%) than 100.00% of its industry peers.
- In the last couple of years the Profit Margin of FPI has grown nicely.
- FPI has a better Operating Margin (42.35%) than 66.67% of its industry peers.
- FPI's Operating Margin has declined in the last couple of years.
- With a decent Gross Margin value of 78.72%, FPI is doing good in 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 | 42.35% | ||
| 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
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FPI is destroying value.
- FPI has less shares outstanding than it did 1 year ago.
- FPI has more shares outstanding than it did 5 years ago.
- FPI has a better debt/assets ratio than last year.
2.2 Solvency
- FPI has an Altman-Z score of 1.09. 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 1.09, FPI is in line with its industry, outperforming 56.67% of the companies in the same industry.
- 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.
- Looking at the Debt to FCF ratio, with a value of 23.33, FPI is in line with its industry, outperforming 46.67% of the companies in the same industry.
- A Debt/Equity ratio of 0.38 indicates that FPI is not too dependend on debt financing.
- FPI has a Debt to Equity ratio of 0.38. This is amongst the best in the industry. FPI outperforms 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 1.09 |
ROIC/WACC0.29
WACC8.51%
2.3 Liquidity
- FPI has a Current Ratio of 2.09. This indicates that FPI is financially healthy and has no problem in meeting its short term obligations.
- The Current ratio of FPI (2.09) is better than 86.67% of its industry peers.
- A Quick Ratio of 1.88 indicates that FPI should not have too much problems paying 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
- FPI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 423.33%, 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
- FPI shows a decrease in Revenue. In the last year, the revenue decreased by -9.27%.
- 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)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 -46.41% on average over the next years. This is quite bad
- The Revenue is expected to decrease by -12.66% on average over the next years. This is quite bad
EPS Next Y-72.1%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
EPS Next 5YN/A
Revenue Next Year-15.37%
Revenue Next 2Y-12.66%
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 7.39, which indicates a rather cheap valuation of FPI.
- 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 (28.32), we can say FPI is valued rather cheaply.
- A Price/Forward Earnings ratio of 82.11 indicates a quite expensive valuation of FPI.
- Based on the Price/Forward Earnings ratio, FPI is valued a bit more expensive than 63.33% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of FPI to the average of the S&P500 Index (25.57), we can say FPI is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.39 | ||
| Fwd PE | 82.11 |
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.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of FPI is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 68.73 | ||
| EV/EBITDA | 24.4 |
4.3 Compensation for Growth
- The decent profitability rating of FPI may justify a higher PE ratio.
- FPI's earnings are expected to decrease with -46.41% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.08
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.10%, FPI has a reasonable but not impressive dividend return.
- With a Dividend Yield of 2.10, FPI pays less dividend than the industry average, which is at 5.52. 90.00% 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 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.1% |
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.
- 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
- 102.25% of the earnings are spent on dividend by FPI. 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.
DP102.25%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
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.
What is the valuation status of FARMLAND PARTNERS INC (FPI) stock?
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.
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 -72.1% in the next year.
How sustainable is the dividend of FARMLAND PARTNERS INC (FPI) stock?
The dividend rating of FARMLAND PARTNERS INC (FPI) is 3 / 10 and the dividend payout ratio is 102.25%.