FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
10 USD
+0.05 (+0.5%)
10.01 USD
+0.01 (+0.1%)
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 has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
FPI had positive earnings in the past year.
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.
Looking at the Return On Invested Capital, with a value of 2.43%, FPI is doing worse than 66.67% 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 4.78%.
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.
FPI's Profit Margin has improved in the last couple of years.
The Operating Margin of FPI (42.35%) is better than 66.67% of its industry peers.
FPI's Operating Margin has declined in the last couple of years.
With a decent Gross Margin value of 78.72%, FPI is doing good in 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FPI is destroying value.
Compared to 1 year ago, FPI has less shares outstanding
The number of shares outstanding for FPI has been increased compared to 5 years ago.
Compared to 1 year ago, FPI has an improved debt to assets ratio.
2.2 Solvency
FPI has an Altman-Z score of 0.95. 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 0.95, FPI is in line with its industry, outperforming 50.00% of the companies in the same industry.
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.
FPI's Debt to FCF ratio of 23.33 is in line compared to the rest of the industry. FPI outperforms 46.67% of its industry peers.
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 | 0.95 |
ROIC/WACC0.29
WACC8.29%
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.
FPI has a Quick Ratio of 1.88. This is a normal value and indicates that FPI is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.88, FPI belongs to the top 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.
Measured over the past years, FPI shows a very strong growth in Earnings Per Share. The EPS has been growing by 90.67% on average per year.
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
The Earnings Per Share is expected to decrease by -46.41% on average over the next years. This is quite bad
The Revenue is expected to decrease by -10.87% on average over the next years. This is quite bad
EPS Next Y-65.37%
EPS Next 2Y-60.16%
EPS Next 3Y-46.41%
EPS Next 5YN/A
Revenue Next Year-15.83%
Revenue Next 2Y-10.87%
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
A Price/Earnings ratio of 6.37 indicates a rather cheap valuation of FPI.
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.
The average S&P500 Price/Earnings ratio is at 26.34. FPI is valued rather cheaply when compared to this.
FPI is valuated quite expensively with a Price/Forward Earnings ratio of 60.01.
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.
The average S&P500 Price/Forward Earnings ratio is at 23.56. FPI is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.37 | ||
| Fwd PE | 60.01 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, FPI is valued a bit more expensive than 66.67% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of FPI is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 59.2 | ||
| EV/EBITDA | 21.82 |
4.3 Compensation for Growth
The decent profitability rating of FPI 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-60.16%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.41%, FPI has a reasonable but not impressive dividend return.
With a Dividend Yield of 2.41, FPI pays less dividend than the industry average, which is at 6.05. 86.67% of the companies listed in the same industry pay a better dividend than FPI!
FPI's Dividend Yield is comparable with the S&P500 average which is at 2.31.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.41% |
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-60.16%
EPS Next 3Y-46.41%
10
+0.05 (+0.5%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners61.5%
Inst Owner Change-6.3%
Ins Owners7.85%
Ins Owner Change0.44%
Market Cap431.00M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.11 (21.1%)
Short Float %6.79%
Short Ratio5.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.41% |
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP102.25%
Div Incr Years3
Div Non Decr Years5
Ex-Date
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)-3.06%
PT rev (3m)-3.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.33%
EPS NY rev (1m)0%
EPS NY rev (3m)35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.24%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.37 | ||
| Fwd PE | 60.01 | ||
| P/S | 8.14 | ||
| P/FCF | 59.2 | ||
| P/OCF | 25.58 | ||
| P/B | 0.96 | ||
| P/tB | 0.97 | ||
| EV/EBITDA | 21.82 |
EPS(TTM)1.57
EY15.7%
EPS(NY)0.17
Fwd EY1.67%
FCF(TTM)0.17
FCFY1.69%
OCF(TTM)0.39
OCFY3.91%
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 | 0.95 |
F-Score8
WACC8.29%
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-65.37%
EPS Next 2Y-60.16%
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-15.83%
Revenue Next 2Y-10.87%
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.
Can you provide the valuation status for FARMLAND PARTNERS INC?
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.
What is the financial health of FARMLAND PARTNERS INC (FPI) stock?
The financial health rating of FARMLAND PARTNERS INC (FPI) is 5 / 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 -65.37% in the next year.