FARMLAND PARTNERS INC (FPI) Fundamental Analysis & Valuation

NYSE:FPI • US31154R1095

Current stock price

11.43 USD
+0.18 (+1.6%)
At close:
11.0998 USD
-0.33 (-2.89%)
After Hours:

This FPI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. FPI Profitability Analysis

1.1 Basic Checks

  • In the past year FPI was profitable.
  • In the past year FPI had a positive cash flow from operations.
  • Of the past 5 years FPI 4 years were profitable.
  • FPI had a positive operating cash flow in each of the past 5 years.
FPI Yearly Net Income VS EBIT VS OCF VS FCFFPI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M -100M -150M -200M

1.2 Ratios

  • With a decent Return On Assets value of 4.00%, FPI is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • FPI has a Return On Equity of 6.27%. This is comparable to the rest of the industry: FPI outperforms 57.14% of its industry peers.
  • The Return On Invested Capital of FPI (2.60%) is worse than 60.71% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for FPI is below the industry average of 5.10%.
  • The 3 year average ROIC (2.34%) for FPI is below the current ROIC(2.60%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4%
ROE 6.27%
ROIC 2.6%
ROA(3y)4.4%
ROA(5y)2.68%
ROE(3y)7.79%
ROE(5y)4.71%
ROIC(3y)2.34%
ROIC(5y)1.99%
FPI Yearly ROA, ROE, ROICFPI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8 10

1.3 Margins

  • FPI has a better Profit Margin (55.19%) than 92.86% of its industry peers.
  • FPI's Profit Margin has improved in the last couple of years.
  • The Operating Margin of FPI (44.19%) is better than 67.86% of its industry peers.
  • FPI's Operating Margin has been stable in the last couple of years.
  • FPI's Gross Margin of 80.33% is amongst the best of the industry. FPI outperforms 82.14% of its industry peers.
  • FPI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 44.19%
PM (TTM) 55.19%
GM 80.33%
OM growth 3Y2.55%
OM growth 5Y0.05%
PM growth 3Y59.03%
PM growth 5YN/A
GM growth 3Y1.48%
GM growth 5Y0.38%
FPI Yearly Profit, Operating, Gross MarginsFPI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60 80

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3

2. FPI Health Analysis

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
  • Compared to 1 year ago, FPI has an improved debt to assets ratio.
FPI Yearly Shares OutstandingFPI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
FPI Yearly Total Debt VS Total AssetsFPI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • Based on the Altman-Z score of 1.19, we must say that FPI is in the distress zone and has some risk of bankruptcy.
  • FPI's Altman-Z score of 1.19 is in line compared to the rest of the industry. FPI outperforms 57.14% of its industry peers.
  • The Debt to FCF ratio of FPI is 16.79, which is on the high side as it means it would take FPI, 16.79 years of fcf income to pay off all of its debts.
  • FPI has a Debt to FCF ratio (16.79) which is in line with its industry peers.
  • FPI has a Debt/Equity ratio of 0.35. This is a healthy value indicating a solid balance between debt and equity.
  • FPI has a Debt to Equity ratio of 0.35. This is amongst the best in the industry. FPI outperforms 92.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Altman-Z 1.19
ROIC/WACC0.32
WACC8.07%
FPI Yearly LT Debt VS Equity VS FCFFPI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M

2.3 Liquidity

  • FPI has a Current Ratio of 0.84. This is a bad value and indicates that FPI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • FPI has a Current ratio (0.84) which is comparable to the rest of the industry.
  • FPI has a Quick Ratio of 0.84. This is a bad value and indicates that FPI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.72, FPI perfoms like the industry average, outperforming 53.57% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.72
FPI Yearly Current Assets VS Current LiabilitesFPI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M

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2

3. FPI Growth Analysis

3.1 Past

  • FPI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -12.38%.
  • Measured over the past years, FPI shows a very strong growth in Earnings Per Share. The EPS has been growing by 79.15% on average per year.
  • FPI shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -10.39%.
  • FPI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.58% yearly.
EPS 1Y (TTM)-12.38%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%-60.19%
Revenue 1Y (TTM)-10.39%
Revenue growth 3Y-5.18%
Revenue growth 5Y0.58%
Sales Q2Q%-3.53%

3.2 Future

  • FPI is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -48.67% yearly.
  • FPI is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.27% yearly.
EPS Next Y-79.14%
EPS Next 2Y-48.67%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-7.71%
Revenue Next 2Y-4.27%
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
FPI Yearly Revenue VS EstimatesFPI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M
FPI Yearly EPS VS EstimatesFPI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.2 -0.2 0.4 0.6 0.8 1

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3

4. FPI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 12.42, FPI is valued correctly.
  • Based on the Price/Earnings ratio, FPI is valued cheaply inside the industry as 92.86% of the companies are valued more expensively.
  • FPI is valuated cheaply when we compare the Price/Earnings ratio to 25.60, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 59.56, FPI can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 67.86% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.84. FPI is valued rather expensively when compared to this.
Industry RankSector Rank
PE 12.42
Fwd PE 59.56
FPI Price Earnings VS Forward Price EarningsFPI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • FPI's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FPI is more expensive than 67.86% of the companies in the same industry.
  • FPI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 52.3
EV/EBITDA 23.68
FPI Per share dataFPI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • FPI has a very decent profitability rating, which may justify a higher PE ratio.
  • FPI's earnings are expected to decrease with -48.67% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-48.67%
EPS Next 3YN/A

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5

5. FPI Dividend Analysis

5.1 Amount

  • FPI has a Yearly Dividend Yield of 3.27%.
  • FPI's Dividend Yield is slightly below the industry average, which is at 4.74.
  • FPI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.88.
Industry RankSector Rank
Dividend Yield 3.27%

5.2 History

  • On average, the dividend of FPI grows each year by 19.96%, which is quite nice.
  • FPI has paid a dividend for at least 10 years, which is 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)19.96%
Div Incr Years3
Div Non Decr Years5
FPI Yearly Dividends per shareFPI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 231.67% of the earnings are spent on dividend by FPI. This is not a sustainable payout ratio.
  • FPI's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP231.67%
EPS Next 2Y-48.67%
EPS Next 3YN/A
FPI Yearly Income VS Free CF VS DividendFPI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M -100M -150M -200M
FPI Dividend Payout.FPI Dividend Payout, showing the Payout Ratio.FPI Dividend Payout.PayoutRetained Earnings

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FPI Fundamentals: All Metrics, Ratios and Statistics

FARMLAND PARTNERS INC

NYSE:FPI (4/2/2026, 6:40:00 PM)

After market: 11.0998 -0.33 (-2.89%)

11.43

+0.18 (+1.6%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners58.92%
Inst Owner Change-5.33%
Ins Owners7.87%
Ins Owner Change2.11%
Market Cap501.09M
Revenue(TTM)52.18M
Net Income(TTM)28.80M
Analysts74.29
Price Target13.26 (16.01%)
Short Float %6.25%
Short Ratio3.95
Dividend
Industry RankSector Rank
Dividend Yield 3.27%
Yearly Dividend1.5
Dividend Growth(5Y)19.96%
DP231.67%
Div Incr Years3
Div Non Decr Years5
Ex-Date04-01
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)45.02%
Min EPS beat(2)-60.4%
Max EPS beat(2)150.44%
EPS beat(4)3
Avg EPS beat(4)3354.44%
Min EPS beat(4)-60.4%
Max EPS beat(4)12982.4%
EPS beat(8)5
Avg EPS beat(8)1704.17%
EPS beat(12)8
Avg EPS beat(12)1204.34%
EPS beat(16)10
Avg EPS beat(16)921.09%
Revenue beat(2)2
Avg Revenue beat(2)12.4%
Min Revenue beat(2)5.17%
Max Revenue beat(2)19.64%
Revenue beat(4)4
Avg Revenue beat(4)8.4%
Min Revenue beat(4)1.81%
Max Revenue beat(4)19.64%
Revenue beat(8)6
Avg Revenue beat(8)5.23%
Revenue beat(12)6
Avg Revenue beat(12)0.9%
Revenue beat(16)9
Avg Revenue beat(16)2.86%
PT rev (1m)0%
PT rev (3m)9.47%
EPS NQ rev (1m)0%
EPS NQ rev (3m)150%
EPS NY rev (1m)26.67%
EPS NY rev (3m)35.71%
Revenue NQ rev (1m)10.47%
Revenue NQ rev (3m)8.45%
Revenue NY rev (1m)10.12%
Revenue NY rev (3m)3.09%
Valuation
Industry RankSector Rank
PE 12.42
Fwd PE 59.56
P/S 9.6
P/FCF 52.3
P/OCF 28.76
P/B 1.09
P/tB 1.09
EV/EBITDA 23.68
EPS(TTM)0.92
EY8.05%
EPS(NY)0.19
Fwd EY1.68%
FCF(TTM)0.22
FCFY1.91%
OCF(TTM)0.4
OCFY3.48%
SpS1.19
BVpS10.48
TBVpS10.48
PEG (NY)N/A
PEG (5Y)N/A
Graham Number14.73
Profitability
Industry RankSector Rank
ROA 4%
ROE 6.27%
ROCE 3.29%
ROIC 2.6%
ROICexc 2.64%
ROICexgc 2.64%
OM 44.19%
PM (TTM) 55.19%
GM 80.33%
FCFM 18.36%
ROA(3y)4.4%
ROA(5y)2.68%
ROE(3y)7.79%
ROE(5y)4.71%
ROIC(3y)2.34%
ROIC(5y)1.99%
ROICexc(3y)2.44%
ROICexc(5y)2.06%
ROICexgc(3y)2.45%
ROICexgc(5y)2.07%
ROCE(3y)2.96%
ROCE(5y)2.52%
ROICexgc growth 3Y14.46%
ROICexgc growth 5Y9.4%
ROICexc growth 3Y14.68%
ROICexc growth 5Y9.39%
OM growth 3Y2.55%
OM growth 5Y0.05%
PM growth 3Y59.03%
PM growth 5YN/A
GM growth 3Y1.48%
GM growth 5Y0.38%
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Debt/EBITDA 5.91
Cap/Depr 188.22%
Cap/Sales 15.04%
Interest Coverage 2.12
Cash Conversion 64.01%
Profit Quality 33.27%
Current Ratio 0.84
Quick Ratio 0.72
Altman-Z 1.19
F-Score5
WACC8.07%
ROIC/WACC0.32
Cap/Depr(3y)302.8%
Cap/Depr(5y)570.19%
Cap/Sales(3y)32.34%
Cap/Sales(5y)71.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.38%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%-60.19%
EPS Next Y-79.14%
EPS Next 2Y-48.67%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-10.39%
Revenue growth 3Y-5.18%
Revenue growth 5Y0.58%
Sales Q2Q%-3.53%
Revenue Next Year-7.71%
Revenue Next 2Y-4.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-9.6%
EBIT growth 3Y-2.77%
EBIT growth 5Y0.63%
EBIT Next Year137.49%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y394.89%
FCF growth 3YN/A
FCF growth 5Y-9.93%
OCF growth 1Y7.95%
OCF growth 3Y0.73%
OCF growth 5Y-2.45%

FARMLAND PARTNERS INC / FPI Fundamental Analysis FAQ

What is the ChartMill fundamental rating of FARMLAND PARTNERS INC (FPI) stock?

ChartMill assigns a fundamental rating of 4 / 10 to FPI.


What is the valuation status for FPI stock?

ChartMill assigns a valuation rating of 3 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Overvalued.


What is the profitability of FPI stock?

FARMLAND PARTNERS INC (FPI) has a profitability rating of 6 / 10.


What are the PE and PB ratios of FARMLAND PARTNERS INC (FPI) stock?

The Price/Earnings (PE) ratio for FARMLAND PARTNERS INC (FPI) is 12.42 and the Price/Book (PB) ratio is 1.09.


What is the earnings growth outlook for FARMLAND PARTNERS INC?

The Earnings per Share (EPS) of FARMLAND PARTNERS INC (FPI) is expected to decline by -79.14% in the next year.