GLADSTONE LAND CORP (LAND) Stock Fundamental Analysis
NASDAQ:LAND - Nasdaq - US3765491010 - REIT - Currency: USD
LAND gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 30 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 is valued expensive and it does not seem to be growing.
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.
Each year in the past 5 years LAND had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of -0.69%, LAND is doing worse than 73.33% of the companies in the same industry.
With a Return On Equity value of -1.28%, LAND is not doing good in the industry: 63.33% of the companies in the same industry are doing better.
LAND's Return On Invested Capital of 1.74% is on the low side compared to the rest of the industry. LAND is outperformed by 73.33% of its industry peers.
LAND had an Average Return On Invested Capital over the past 3 years of 1.93%. This is below the industry average of 5.15%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.69% | ||
| ROE | -1.28% | ||
| ROIC | 1.74% |
ROA(3y)-0.85%
ROA(5y)-0.72%
ROE(3y)-1.65%
ROE(5y)-1.52%
ROIC(3y)1.93%
ROIC(5y)1.95%
1.3 Margins
With a Operating Margin value of 34.03%, LAND perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
LAND's Operating Margin has declined in the last couple of years.
LAND's Gross Margin of 83.18% is amongst the best of the industry. LAND outperforms 86.67% of its industry peers.
LAND's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.03% | ||
| PM (TTM) | N/A | ||
| GM | 83.18% |
OM growth 3Y-4.35%
OM growth 5Y-4.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.65%
GM growth 5Y-0.26%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LAND is destroying value.
LAND has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, LAND has more shares outstanding
Compared to 1 year ago, LAND has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.30, we must say that LAND is in the distress zone and has some risk of bankruptcy.
LAND's Altman-Z score of 0.30 is on the low side compared to the rest of the industry. LAND is outperformed by 80.00% of its industry peers.
LAND has a debt to FCF ratio of 22.28. This is a negative value and a sign of low solvency as LAND would need 22.28 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 22.28, LAND is in line with its industry, outperforming 46.67% of the companies in the same industry.
A Debt/Equity ratio of 0.81 indicates that LAND is somewhat dependend on debt financing.
LAND has a Debt to Equity ratio of 0.81. This is in the better half of the industry: LAND outperforms 76.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 22.28 | ||
| Altman-Z | 0.3 |
ROIC/WACC0.25
WACC6.83%
2.3 Liquidity
LAND has a Current Ratio of 2.25. This indicates that LAND is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of LAND (2.25) is better than 86.67% of its industry peers.
A Quick Ratio of 2.25 indicates that LAND has no problem at all paying its short term obligations.
LAND has a Quick ratio of 2.25. This is amongst the best in the industry. LAND outperforms 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.25 | ||
| Quick Ratio | 2.25 |
3. Growth
3.1 Past
The earnings per share for LAND have decreased strongly by -150.29% in the last year.
The Revenue has decreased by -5.73% in the past year.
The Revenue has been growing by 15.93% on average over the past years. This is quite good.
EPS 1Y (TTM)-150.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-105.41%
Revenue 1Y (TTM)-5.73%
Revenue growth 3Y4.2%
Revenue growth 5Y15.93%
Sales Q2Q%-42.26%
3.2 Future
The Earnings Per Share is expected to decrease by -13.64% on average over the next years. This is quite bad
The Revenue is expected to grow by 6.70% on average over the next years.
EPS Next Y50.79%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
EPS Next 5YN/A
Revenue Next Year-6.23%
Revenue Next 2Y0.62%
Revenue Next 3Y1.08%
Revenue Next 5Y6.7%
3.3 Evolution
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
LAND reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for LAND. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of LAND indicates a somewhat cheap valuation: LAND is cheaper than 80.00% of the companies listed in the same industry.
LAND's Price/Free Cash Flow ratio is rather cheap when compared to the industry. LAND is cheaper than 93.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.81 | ||
| EV/EBITDA | 13.39 |
4.3 Compensation for Growth
A cheap valuation may be justified as LAND's earnings are expected to decrease with -13.64% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
5. Dividend
5.1 Amount
LAND has a Yearly Dividend Yield of 5.03%, which is a nice return.
Compared to an average industry Dividend Yield of 6.03, LAND has a dividend in line with its industry peers.
LAND's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
5.2 History
On average, the dividend of LAND grows each year by 11.11%, which is quite nice.
LAND has been paying a dividend for at least 10 years, so it has a reliable track record.
LAND has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)11.11%
Div Incr Years10
Div Non Decr Years10
5.3 Sustainability
LAND has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-503.5%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
8.88
+0.04 (+0.45%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners47.53%
Inst Owner Change0.91%
Ins Owners6.97%
Ins Owner Change0%
Market Cap321.28M
Analysts76.92
Price Target11.65 (31.19%)
Short Float %4.02%
Short Ratio3.83
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.03% |
Yearly Dividend1.23
Dividend Growth(5Y)11.11%
DP-503.5%
Div Incr Years10
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)228.77%
Min EPS beat(2)-22.55%
Max EPS beat(2)480.09%
EPS beat(4)1
Avg EPS beat(4)88.89%
Min EPS beat(4)-51.14%
Max EPS beat(4)480.09%
EPS beat(8)4
Avg EPS beat(8)90.85%
EPS beat(12)4
Avg EPS beat(12)44.73%
EPS beat(16)6
Avg EPS beat(16)26.67%
Revenue beat(2)2
Avg Revenue beat(2)0.58%
Min Revenue beat(2)0.02%
Max Revenue beat(2)1.13%
Revenue beat(4)4
Avg Revenue beat(4)1.83%
Min Revenue beat(4)0.02%
Max Revenue beat(4)3.68%
Revenue beat(8)5
Avg Revenue beat(8)-0.39%
Revenue beat(12)6
Avg Revenue beat(12)-0.35%
Revenue beat(16)8
Avg Revenue beat(16)0.34%
PT rev (1m)0%
PT rev (3m)-10.46%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-20.83%
EPS NY rev (1m)0%
EPS NY rev (3m)42.11%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.85%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.7%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 3.93 | ||
| P/FCF | 12.81 | ||
| P/OCF | 10.5 | ||
| P/B | 0.47 | ||
| P/tB | 0.47 | ||
| EV/EBITDA | 13.39 |
EPS(TTM)-0.44
EYN/A
EPS(NY)-0.5
Fwd EYN/A
FCF(TTM)0.69
FCFY7.81%
OCF(TTM)0.85
OCFY9.52%
SpS2.26
BVpS19.07
TBVpS18.96
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.69% | ||
| ROE | -1.28% | ||
| ROCE | 2.2% | ||
| ROIC | 1.74% | ||
| ROICexc | 1.8% | ||
| ROICexgc | 1.93% | ||
| OM | 34.03% | ||
| PM (TTM) | N/A | ||
| GM | 83.18% | ||
| FCFM | 30.67% |
ROA(3y)-0.85%
ROA(5y)-0.72%
ROE(3y)-1.65%
ROE(5y)-1.52%
ROIC(3y)1.93%
ROIC(5y)1.95%
ROICexc(3y)1.98%
ROICexc(5y)1.98%
ROICexgc(3y)2.09%
ROICexgc(5y)2.07%
ROCE(3y)2.44%
ROCE(5y)2.47%
ROICexcg growth 3Y1.97%
ROICexcg growth 5Y1.31%
ROICexc growth 3Y0.88%
ROICexc growth 5Y0.2%
OM growth 3Y-4.35%
OM growth 5Y-4.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.65%
GM growth 5Y-0.26%
F-Score4
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 22.28 | ||
| Debt/EBITDA | 8.94 | ||
| Cap/Depr | 15.9% | ||
| Cap/Sales | 6.74% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 48.94% | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.25 | ||
| Quick Ratio | 2.25 | ||
| Altman-Z | 0.3 |
F-Score4
WACC6.83%
ROIC/WACC0.25
Cap/Depr(3y)93.88%
Cap/Depr(5y)598.97%
Cap/Sales(3y)37.45%
Cap/Sales(5y)195.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-150.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-105.41%
EPS Next Y50.79%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.73%
Revenue growth 3Y4.2%
Revenue growth 5Y15.93%
Sales Q2Q%-42.26%
Revenue Next Year-6.23%
Revenue Next 2Y0.62%
Revenue Next 3Y1.08%
Revenue Next 5Y6.7%
EBIT growth 1Y-16.76%
EBIT growth 3Y-0.33%
EBIT growth 5Y10.2%
EBIT Next Year119.46%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y161.8%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-25.29%
OCF growth 3Y-3%
OCF growth 5Y6.7%