GLADSTONE LAND CORP (LAND)
US3765491010 - REIT
LAND gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 28 industry peers in the Specialized REITs industry. While LAND seems to be doing ok healthwise, there are quite some concerns on its profitability. LAND has a expensive valuation and it also scores bad on growth.
1. Profitability
1.1 Basic Checks
LAND had negative earnings in the past year.
In the past year LAND had a positive cash flow from operations.
In the past 5 years LAND always reported negative net income.
Each year in the past 5 years LAND had a positive operating cash flow.
1.2 Ratios
The Return On Assets of LAND (-0.71%) is worse than 71.43% of its industry peers.
The Return On Equity of LAND (-1.37%) is worse than 67.86% of its industry peers.
LAND's Return On Invested Capital of 1.94% is on the low side compared to the rest of the industry. LAND is outperformed by 71.43% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for LAND is below the industry average of 5.05%.
The last Return On Invested Capital (1.94%) for LAND is above the 3 year average (1.92%), which is a sign of increasing profitability.
| 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
With a Operating Margin value of 37.21%, LAND perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
LAND's Operating Margin has improved in the last couple of years.
LAND has a better Gross Margin (85.95%) than 85.71% of its industry peers.
LAND's Gross Margin has been stable in the last couple of years.
| 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LAND is destroying value.
The number of shares outstanding for LAND has been increased compared to 1 year ago.
The number of shares outstanding for LAND has been increased compared to 5 years ago.
LAND has a better debt/assets ratio than last year.
2.2 Solvency
LAND has an Altman-Z score of 0.40. This is a bad value and indicates that LAND is not financially healthy and even has some risk of bankruptcy.
LAND has a Altman-Z score of 0.40. This is amonst the worse of the industry: LAND underperforms 82.14% of its industry peers.
LAND has a debt to FCF ratio of 23.23. This is a negative value and a sign of low solvency as LAND would need 23.23 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 23.23, LAND is in line with its industry, outperforming 46.43% of the companies in the same industry.
A Debt/Equity ratio of 0.88 indicates that LAND is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.88, LAND is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.88 | ||
| Debt/FCF | 23.23 | ||
| Altman-Z | 0.4 |
ROIC/WACC0.26
WACC7.59%
2.3 Liquidity
LAND has a Current 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.
With a decent Current ratio value of 1.26, LAND is doing good in the industry, outperforming 78.57% of the companies in the same industry.
A Quick Ratio of 1.26 indicates that LAND should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.26, LAND belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.26 | ||
| Quick Ratio | 1.26 |
3. Growth
3.1 Past
LAND shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 37.79%, which is quite impressive.
The Revenue has been growing slightly by 1.30% in the past year.
Measured over the past years, LAND shows a quite strong growth in Revenue. The Revenue has been growing by 19.76% on average per year.
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
Based on estimates for the next years, LAND will show a small growth in Earnings Per Share. The EPS will grow by 7.56% on average per year.
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
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 negative for LAND. In the last year negative earnings were reported.
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 71.43% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, LAND is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.26 | ||
| EV/EBITDA | 14.96 |
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
LAND has a Yearly Dividend Yield of 4.31%, which is a nice return.
Compared to an average industry Dividend Yield of 4.83, 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 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.31% |
5.2 History
The dividend of LAND is nicely growing with an annual growth rate of 13.62%!
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 (4/18/2024, 11:34:44 AM)
12.375
-0.03 (-0.2%)
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 Cap443.52M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.31% |
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