FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
10.57 USD
+0.27 (+2.62%)
10.7626 USD
+0.19 (+1.82%)
Overall FPI gets a fundamental rating of 5 out of 10. We evaluated FPI against 30 industry peers in the Specialized REITs industry. Both the profitability and the financial health of FPI get a neutral evaluation. Nothing too spectacular is happening here. FPI is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- In the past year FPI was profitable.
- In the past year FPI had a positive cash flow from operations.
- The reported net income has been mixed in the past 5 years: FPI reported negative net income in multiple years.
- In the past 5 years FPI always reported a positive cash flow from operatings.
1.2 Ratios
- With an excellent Return On Assets value of 8.87%, FPI belongs to the best of the industry, outperforming 96.67% of the companies in the same industry.
- 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.
- The Return On Invested Capital of FPI (2.43%) is worse than 63.33% of its industry peers.
- FPI had an Average Return On Invested Capital over the past 3 years of 2.05%. This 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
- Looking at the Profit Margin, with a value of 123.81%, FPI belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
- In the last couple of years the Profit Margin of FPI has grown nicely.
- With a decent Operating Margin value of 42.35%, FPI is doing good in the industry, outperforming 66.67% of the companies in the same industry.
- FPI's Operating Margin has declined in the last couple of years.
- Looking at the Gross Margin, with a value of 78.72%, FPI is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
- 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
- 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.
2.2 Solvency
- FPI has an Altman-Z score of 0.97. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
- FPI has a Altman-Z score of 0.97. This is comparable to the rest of the industry: FPI outperforms 53.33% of its industry peers.
- FPI has a debt to FCF ratio of 23.33. This is a negative value and a sign of low solvency as FPI would need 23.33 years to pay back of all of its debts.
- The Debt to FCF ratio of FPI (23.33) 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.
- FPI has a better Debt to Equity ratio (0.38) than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 0.97 |
ROIC/WACC0.29
WACC8.47%
2.3 Liquidity
- A Current Ratio of 2.09 indicates that FPI has no problem at all paying its short term obligations.
- Looking at the Current ratio, with a value of 2.09, FPI belongs to the top 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.
- With an excellent Quick ratio value of 1.88, FPI belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.09 | ||
| Quick Ratio | 1.88 |
3. Growth
3.1 Past
- FPI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 423.33%, which is quite impressive.
- The Earnings Per Share has been growing by 90.67% on average over the past years. This is a very strong growth
- FPI shows a decrease in Revenue. In the last year, the revenue decreased by -9.27%.
- FPI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.68% yearly.
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
- FPI is valuated cheaply with a Price/Earnings ratio of 6.73.
- Based on the Price/Earnings ratio, FPI is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
- The average S&P500 Price/Earnings ratio is at 27.33. FPI is valued rather cheaply when compared to this.
- With a Price/Forward Earnings ratio of 74.75, FPI can be considered very expensive at the moment.
- 63.33% of the companies in the same industry are cheaper than FPI, based on the Price/Forward Earnings ratio.
- When comparing the Price/Forward Earnings ratio of FPI to the average of the S&P500 Index (24.12), we can say FPI is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.73 | ||
| Fwd PE | 74.75 |
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 is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 62.57 | ||
| EV/EBITDA | 22.3 |
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 -46.41% in the coming years.
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%. Purely for dividend investing, there may be better candidates out there.
- With a Dividend Yield of 2.37, FPI pays less dividend than the industry average, which is at 5.69. 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 1.91.
| 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.
- As FPI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
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.
- FPI's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP102.25%
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
10.57
+0.27 (+2.62%)
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 Cap455.57M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.11 (14.57%)
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 | 6.73 | ||
| Fwd PE | 74.75 | ||
| P/S | 8.61 | ||
| P/FCF | 62.57 | ||
| P/OCF | 27.04 | ||
| P/B | 1.01 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | 22.3 |
EPS(TTM)1.57
EY14.85%
EPS(NY)0.14
Fwd EY1.34%
FCF(TTM)0.17
FCFY1.6%
OCF(TTM)0.39
OCFY3.7%
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 | 0.97 |
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%.