FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
10.665 USD
+0.08 (+0.8%)
We assign a fundamental rating of 5 out of 10 to FPI. FPI was compared to 30 industry peers in the Specialized REITs industry. FPI has an average financial health and profitability rating. FPI has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
- FPI had positive earnings in the past year.
- FPI had a positive operating cash flow in the past year.
- In multiple years FPI reported negative net income over the last 5 years.
- Each year in the past 5 years FPI had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of FPI (8.87%) is better than 96.67% of its industry peers.
- Looking at the Return On Equity, with a value of 14.58%, FPI is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 2.43%, FPI is doing worse than 63.33% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for FPI is below the industry average of 4.86%.
- The 3 year average ROIC (2.05%) for FPI is below the current ROIC(2.43%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.87% | ||
| ROE | 14.58% | ||
| ROIC | 2.43% |
ROA(3y)3.31%
ROA(5y)1.79%
ROE(3y)6.18%
ROE(5y)3.21%
ROIC(3y)2.05%
ROIC(5y)1.8%
1.3 Margins
- FPI has a better Profit Margin (123.81%) than 100.00% of its industry peers.
- In the last couple of years the Profit Margin of FPI has grown nicely.
- FPI's Operating Margin of 42.35% is fine compared to the rest of the industry. FPI outperforms 66.67% of its industry peers.
- In the last couple of years the Operating Margin of FPI has declined.
- FPI has a better Gross Margin (78.72%) than 70.00% of its industry peers.
- FPI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 42.35% | ||
| PM (TTM) | 123.81% | ||
| GM | 78.72% |
OM growth 3Y10.34%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5Y108.42%
GM growth 3Y-0.93%
GM growth 5Y-0.72%
2. Health
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FPI is destroying value.
- The number of shares outstanding for FPI has been reduced compared to 1 year ago.
- FPI has more shares outstanding than it did 5 years ago.
- FPI has a better debt/assets ratio than last year.
2.2 Solvency
- FPI has an Altman-Z score of 1.00. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
- Looking at the Altman-Z score, with a value of 1.00, FPI is in line with its industry, outperforming 53.33% of the companies in the same industry.
- The Debt to FCF ratio of FPI is 23.33, which is on the high side as it means it would take FPI, 23.33 years of fcf income to pay off all of its debts.
- FPI has a Debt to FCF ratio (23.33) which is comparable to the rest of the industry.
- A Debt/Equity ratio of 0.38 indicates that FPI is not too dependend on debt financing.
- Looking at the Debt to Equity ratio, with a value of 0.38, FPI belongs to the top of the industry, outperforming 93.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 1 |
ROIC/WACC0.29
WACC8.47%
2.3 Liquidity
- FPI has a Current Ratio of 2.09. This indicates that FPI is financially healthy and has no problem in meeting its short term obligations.
- With an excellent Current ratio value of 2.09, FPI belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
- A Quick Ratio of 1.88 indicates that FPI should not have too much problems paying its short term obligations.
- FPI's Quick ratio of 1.88 is amongst the best of the industry. FPI outperforms 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.09 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 423.33% over the past year.
- FPI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 90.67% yearly.
- FPI shows a decrease in Revenue. In the last year, the revenue decreased by -9.27%.
- Measured over the past years, FPI shows a small growth in Revenue. The Revenue has been growing by 1.68% on average per year.
EPS 1Y (TTM)423.33%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%0%
Revenue 1Y (TTM)-9.27%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-15.51%
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 -46.41% yearly.
- FPI is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -12.66% yearly.
EPS Next Y-72.1%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
EPS Next 5YN/A
Revenue Next Year-15.37%
Revenue Next 2Y-12.66%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- 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
- Based on the Price/Earnings ratio of 6.79, the valuation of FPI can be described as very cheap.
- FPI's Price/Earnings ratio is rather cheap when compared to the industry. FPI is cheaper than 100.00% of the companies in the same industry.
- When comparing the Price/Earnings ratio of FPI to the average of the S&P500 Index (27.54), we can say FPI is valued rather cheaply.
- The Price/Forward Earnings ratio is 75.42, which means the current valuation is very expensive for FPI.
- 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 63.33% of the companies listed in the same industry.
- When comparing the Price/Forward Earnings ratio of FPI to the average of the S&P500 Index (24.31), we can say FPI is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.79 | ||
| Fwd PE | 75.42 |
4.2 Price Multiples
- 66.67% of the companies in the same industry are cheaper than FPI, based on the Enterprise Value to EBITDA ratio.
- FPI's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 63.13 | ||
| EV/EBITDA | 22.75 |
4.3 Compensation for Growth
- The decent profitability rating of FPI may justify a higher PE ratio.
- FPI's earnings are expected to decrease with -46.41% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.07
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
- FPI has a Yearly Dividend Yield of 2.37%.
- Compared to an average industry Dividend Yield of 5.69, FPI's dividend is way lower than its industry peers. On top of this 90.00% of the companies listed in the same industry pay a better dividend than FPI!
- FPI's Dividend Yield is a higher than the S&P500 average which is at 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.37% |
5.2 History
- The dividend of FPI decreases each year by -3.18%.
- FPI has paid a dividend for at least 10 years, which is 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)-3.18%
Div Incr Years3
Div Non Decr Years5
5.3 Sustainability
- 102.25% of the earnings are spent on dividend by FPI. This is not a sustainable payout ratio.
- The Dividend Rate of FPI has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP102.25%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
NYSE:FPI (1/16/2026, 12:55:34 PM)
10.665
+0.08 (+0.8%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)10-29 2025-10-29/amc
Earnings (Next)02-17 2026-02-17/amc
Inst Owners61.4%
Inst Owner Change0.07%
Ins Owners7.86%
Ins Owner Change0.55%
Market Cap459.66M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.11 (13.55%)
Short Float %6.63%
Short Ratio4.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.37% |
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP102.25%
Div Incr Years3
Div Non Decr Years5
Ex-Date01-02 2026-01-02 (0.06)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)6461%
Min EPS beat(2)-60.4%
Max EPS beat(2)12982.4%
EPS beat(4)2
Avg EPS beat(4)3316.13%
Min EPS beat(4)-60.4%
Max EPS beat(4)12982.4%
EPS beat(8)5
Avg EPS beat(8)1690.62%
EPS beat(12)7
Avg EPS beat(12)1189.33%
EPS beat(16)10
Avg EPS beat(16)916.18%
Revenue beat(2)2
Avg Revenue beat(2)3.49%
Min Revenue beat(2)1.81%
Max Revenue beat(2)5.17%
Revenue beat(4)4
Avg Revenue beat(4)4.68%
Min Revenue beat(4)1.81%
Max Revenue beat(4)6.97%
Revenue beat(8)5
Avg Revenue beat(8)2.27%
Revenue beat(12)5
Avg Revenue beat(12)-0.85%
Revenue beat(16)9
Avg Revenue beat(16)1.78%
PT rev (1m)0%
PT rev (3m)-3.06%
EPS NQ rev (1m)-31.03%
EPS NQ rev (3m)-31.03%
EPS NY rev (1m)-19.44%
EPS NY rev (3m)-4.92%
Revenue NQ rev (1m)-0.22%
Revenue NQ rev (3m)-0.22%
Revenue NY rev (1m)0.55%
Revenue NY rev (3m)0.55%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.79 | ||
| Fwd PE | 75.42 | ||
| P/S | 8.68 | ||
| P/FCF | 63.13 | ||
| P/OCF | 27.28 | ||
| P/B | 1.02 | ||
| P/tB | 1.03 | ||
| EV/EBITDA | 22.75 |
EPS(TTM)1.57
EY14.72%
EPS(NY)0.14
Fwd EY1.33%
FCF(TTM)0.17
FCFY1.58%
OCF(TTM)0.39
OCFY3.67%
SpS1.23
BVpS10.43
TBVpS10.33
PEG (NY)N/A
PEG (5Y)0.07
Graham Number19.19
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.87% | ||
| ROE | 14.58% | ||
| ROCE | 3.08% | ||
| ROIC | 2.43% | ||
| ROICexc | 2.48% | ||
| ROICexgc | 2.49% | ||
| OM | 42.35% | ||
| PM (TTM) | 123.81% | ||
| GM | 78.72% | ||
| FCFM | 13.75% |
ROA(3y)3.31%
ROA(5y)1.79%
ROE(3y)6.18%
ROE(5y)3.21%
ROIC(3y)2.05%
ROIC(5y)1.8%
ROICexc(3y)2.15%
ROICexc(5y)1.87%
ROICexgc(3y)2.16%
ROICexgc(5y)1.88%
ROCE(3y)2.6%
ROCE(5y)2.28%
ROICexgc growth 3Y31.14%
ROICexgc growth 5Y7.77%
ROICexc growth 3Y31.05%
ROICexc growth 5Y7.64%
OM growth 3Y10.34%
OM growth 5Y-2.3%
PM growth 3YN/A
PM growth 5Y108.42%
GM growth 3Y-0.93%
GM growth 5Y-0.72%
F-Score8
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Debt/EBITDA | 6.31 | ||
| Cap/Depr | 212.39% | ||
| Cap/Sales | 18.07% | ||
| Interest Coverage | 1.63 | ||
| Cash Conversion | 62.58% | ||
| Profit Quality | 11.11% | ||
| Current Ratio | 2.09 | ||
| Quick Ratio | 1.88 | ||
| Altman-Z | 1 |
F-Score8
WACC8.47%
ROIC/WACC0.29
Cap/Depr(3y)521.09%
Cap/Depr(5y)541.51%
Cap/Sales(3y)59.29%
Cap/Sales(5y)69.41%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)423.33%
EPS 3YN/A
EPS 5Y90.67%
EPS Q2Q%0%
EPS Next Y-72.1%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
EPS Next 5YN/A
Revenue 1Y (TTM)-9.27%
Revenue growth 3Y4.02%
Revenue growth 5Y1.68%
Sales Q2Q%-15.51%
Revenue Next Year-15.37%
Revenue Next 2Y-12.66%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-13.87%
EBIT growth 3Y14.77%
EBIT growth 5Y-0.65%
EBIT Next Year13.12%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y125.1%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y20.16%
OCF growth 3Y27.11%
OCF growth 5Y-2.14%
FARMLAND PARTNERS INC / FPI FAQ
What is the ChartMill fundamental rating of FARMLAND PARTNERS INC (FPI) stock?
ChartMill assigns a fundamental rating of 5 / 10 to FPI.
What is the valuation status of FARMLAND PARTNERS INC (FPI) stock?
ChartMill assigns a valuation rating of 4 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Fairly Valued.
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 -72.1% in the next year.
How sustainable is the dividend of FARMLAND PARTNERS INC (FPI) stock?
The dividend rating of FARMLAND PARTNERS INC (FPI) is 3 / 10 and the dividend payout ratio is 102.25%.