FARMLAND PARTNERS INC (FPI) Fundamental Analysis & Valuation

NYSE:FPI • US31154R1095

Current stock price

10.84 USD
-0.43 (-3.82%)
At close:
10.842 USD
+0 (+0.02%)
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.
  • FPI had a positive operating cash flow in the past year.
  • FPI had positive earnings in 4 of the past 5 years.
  • In the past 5 years FPI always reported a positive cash flow from operatings.
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

  • FPI has a Return On Assets of 4.00%. This is in the better half of the industry: FPI outperforms 71.43% of its industry peers.
  • FPI has a Return On Equity (6.27%) which is comparable to the rest of the industry.
  • FPI has a worse Return On Invested Capital (2.60%) than 60.71% of its industry peers.
  • FPI had an Average Return On Invested Capital over the past 3 years of 2.34%. This is below the industry average of 5.05%.
  • 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

  • The Profit Margin of FPI (55.19%) is better than 92.86% of its industry peers.
  • FPI's Profit Margin has improved in the last couple of years.
  • FPI has a better Operating Margin (44.19%) than 67.86% of its industry peers.
  • In the last couple of years the Operating Margin of FPI has remained more or less at the same level.
  • With an excellent Gross Margin value of 80.33%, FPI belongs to the best of the industry, outperforming 82.14% of the companies in the same industry.
  • In the last couple of years the Gross Margin of FPI has remained more or less at the same level.
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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4

2. FPI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FPI is destroying value.
  • FPI has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, FPI has more shares outstanding
  • FPI has a better debt/assets ratio than last year.
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.
  • The Altman-Z score of FPI (1.19) is better than 60.71% 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's Debt to FCF ratio of 16.79 is in line compared to the rest of the industry. FPI outperforms 53.57% of 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's Debt to Equity ratio of 0.35 is amongst the best of the industry. FPI outperforms 96.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Altman-Z 1.19
ROIC/WACC0.33
WACC7.97%
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

  • A Current Ratio of 0.84 indicates that FPI may have some problems paying its short term obligations.
  • FPI's Current ratio of 0.84 is fine compared to the rest of the industry. FPI outperforms 64.29% of its industry peers.
  • 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.
  • FPI has a Quick ratio (0.72) which is comparable to the rest of the 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%.
  • FPI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 79.15% yearly.
  • Looking at the last year, FPI shows a very negative growth in Revenue. The Revenue has decreased by -10.39% in the last year.
  • 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

  • The Earnings Per Share is expected to decrease by -48.67% on average over the next years. This is quite bad
  • Based on estimates for the next years, FPI will show a decrease in Revenue. The Revenue will decrease by -2.92% on average per year.
EPS Next Y-79.14%
EPS Next 2Y-48.67%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-14.81%
Revenue Next 2Y-2.92%
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.
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

  • Based on the Price/Earnings ratio of 11.78, the valuation of FPI can be described as reasonable.
  • 92.86% of the companies in the same industry are more expensive than FPI, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of FPI to the average of the S&P500 Index (25.23), we can say FPI is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 56.49, the valuation of FPI can be described as expensive.
  • FPI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. FPI is more expensive than 64.29% of the companies in the same industry.
  • FPI's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 23.28.
Industry RankSector Rank
PE 11.78
Fwd PE 56.49
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

  • 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 71.43% of the companies listed in the same industry.
  • FPI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 49.6
EV/EBITDA 23.72
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.
  • A cheap valuation may be justified as FPI's earnings are expected to decrease with -48.67% in the coming years.
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 3.01%. Purely for dividend investing, there may be better candidates out there.
  • FPI's Dividend Yield is slightly below the industry average, which is at 5.49.
  • FPI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 3.01%

5.2 History

  • The dividend of FPI is nicely growing with an annual growth rate of 19.96%!
  • 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)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.
  • The Dividend Rate of FPI has been growing, while earnings will be declining. 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 (3/20/2026, 8:04:00 PM)

After market: 10.842 +0 (+0.02%)

10.84

-0.43 (-3.82%)

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 Cap475.23M
Revenue(TTM)52.18M
Net Income(TTM)28.80M
Analysts74.29
Price Target13.26 (22.32%)
Short Float %6.34%
Short Ratio3.99
Dividend
Industry RankSector Rank
Dividend Yield 3.01%
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)6.85%
PT rev (3m)9.47%
EPS NQ rev (1m)150%
EPS NQ rev (3m)N/A
EPS NY rev (1m)26.67%
EPS NY rev (3m)15.15%
Revenue NQ rev (1m)-1.83%
Revenue NQ rev (3m)-9.31%
Revenue NY rev (1m)1.65%
Revenue NY rev (3m)-8.63%
Valuation
Industry RankSector Rank
PE 11.78
Fwd PE 56.49
P/S 9.11
P/FCF 49.6
P/OCF 27.27
P/B 1.03
P/tB 1.03
EV/EBITDA 23.72
EPS(TTM)0.92
EY8.49%
EPS(NY)0.19
Fwd EY1.77%
FCF(TTM)0.22
FCFY2.02%
OCF(TTM)0.4
OCFY3.67%
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
WACC7.97%
ROIC/WACC0.33
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-14.81%
Revenue Next 2Y-2.92%
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 of FARMLAND PARTNERS INC (FPI) stock?

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


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 -79.14% in the next year.


How sustainable is the dividend of FARMLAND PARTNERS INC (FPI) stock?

The dividend rating of FARMLAND PARTNERS INC (FPI) is 5 / 10 and the dividend payout ratio is 231.67%.