GLADSTONE LAND CORP (LAND)
US3765491010 - REIT
Taking everything into account, LAND scores 3 out of 10 in our fundamental rating. LAND was compared to 28 industry peers in the Specialized REITs industry. LAND scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. LAND does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
LAND had negative earnings in the past year.
LAND had a positive operating cash flow in the past year.
LAND had negative earnings in each of the past 5 years.
LAND had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of -0.71%, LAND is doing worse than 71.43% of the companies in the same industry.
LAND has a Return On Equity of -1.37%. This is in the lower half of the industry: LAND underperforms 67.86% of its industry peers.
LAND has a Return On Invested Capital of 1.94%. This is in the lower half of the industry: LAND underperforms 71.43% of its industry peers.
LAND had an Average Return On Invested Capital over the past 3 years of 1.92%. This is below the industry average of 5.04%.
The 3 year average ROIC (1.92%) for LAND is below the current ROIC(1.94%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.71% | ||
| ROE | -1.37% | ||
| ROIC | 1.94% |
ROA(3y)-0.8%
ROA(5y)-0.62%
ROE(3y)-1.64%
ROE(5y)-1.39%
ROIC(3y)1.92%
ROIC(5y)1.94%
1.3 Margins
LAND's Operating Margin of 37.21% is in line compared to the rest of the industry. LAND outperforms 57.14% of its industry peers.
LAND's Operating Margin has improved in the last couple of years.
LAND's Gross Margin of 85.95% is amongst the best of the industry. LAND outperforms 85.71% of its industry peers.
In the last couple of years the Gross Margin of LAND has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.21% | ||
| PM (TTM) | N/A | ||
| GM | 85.95% |
OM growth 3Y-8.45%
OM growth 5Y2.42%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.28%
GM growth 5Y-0.17%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), LAND is destroying value.
The number of shares outstanding for LAND has been increased compared to 1 year ago.
LAND has more shares outstanding than it did 5 years ago.
The debt/assets ratio for LAND has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.41, we must say that LAND is in the distress zone and has some risk of bankruptcy.
LAND has a Altman-Z score of 0.41. This is amonst the worse of the industry: LAND underperforms 82.14% of its industry peers.
The Debt to FCF ratio of LAND is 23.23, which is on the high side as it means it would take LAND, 23.23 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of LAND (23.23) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.88 indicates that LAND is somewhat dependend on debt financing.
LAND has a better Debt to Equity ratio (0.88) than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 23.23 | ||
| Altman-Z | 0.41 |
ROIC/WACC0.26
WACC7.48%
2.3 Liquidity
A Current Ratio of 1.26 indicates that LAND should not have too much problems paying its short term obligations.
LAND has a Current ratio of 1.26. This is amongst the best in the industry. LAND outperforms 82.14% of its industry peers.
LAND has a Quick Ratio of 1.26. This is a normal value and indicates that LAND is financially healthy and should not expect problems in meeting its short term obligations.
LAND's Quick ratio of 1.26 is amongst the best of the industry. LAND outperforms 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 37.79% over the past year.
The Revenue has been growing slightly by 1.30% in the past year.
The Revenue has been growing by 19.76% on average over the past years. This is quite good.
EPS 1Y (TTM)37.79%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q13.04%
Revenue 1Y (TTM)1.3%
Revenue growth 3Y16.6%
Revenue growth 5Y19.76%
Revenue growth Q2Q-1.36%
3.2 Future
LAND is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.56% yearly.
The Revenue is expected to grow by 4.40% on average over the next years.
EPS Next Y-19.63%
EPS Next 2Y-4.67%
EPS Next 3Y7.56%
EPS Next 5YN/A
Revenue Next Year3.23%
Revenue Next 2Y4.47%
Revenue Next 3Y7.54%
Revenue Next 5Y4.4%
3.3 Evolution
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
LAND reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year LAND is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, LAND is valued a bit cheaper than the industry average as 71.43% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of LAND indicates a somewhat cheap valuation: LAND is cheaper than 78.57% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.77 | ||
| EV/EBITDA | 15.11 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-4.67%
EPS Next 3Y7.56%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.42%, LAND is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.97, LAND has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.40, LAND pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.42% |
5.2 History
On average, the dividend of LAND grows each year by 13.62%, which is quite nice.
LAND has paid a dividend for at least 10 years, which is a reliable track record.
LAND has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)13.62%
Div Incr Years9
Div Non Decr Years9
5.3 Sustainability
LAND has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of LAND is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP-458%
EPS Next 2Y-4.67%
EPS Next 3Y7.56%
GLADSTONE LAND CORP
NASDAQ:LAND (5/1/2024, 4:20:03 PM)
After market: 12.76 0 (0%)12.76
+0.08 (+0.63%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap457.32M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.42% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.71% | ||
| ROE | -1.37% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 37.21% | ||
| PM (TTM) | N/A | ||
| GM | 85.95% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)37.79%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y-19.63%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)1.3%
Revenue growth 3Y16.6%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y