FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis

NYSE:FPI • US31154R1095

12.15 USD
+0.26 (+2.19%)
Last: Feb 23, 2026, 09:57 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

Overall FPI gets a fundamental rating of 4 out of 10. We evaluated FPI against 28 industry peers in the Specialized REITs industry. FPI has an average financial health and profitability rating. FPI does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year FPI was profitable.
  • FPI had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: FPI reported negative net income in multiple years.
  • Of the past 5 years FPI 4 years had a positive operating cash flow.
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 0 50M -50M -100M -150M -200M

1.2 Ratios

  • FPI has a Return On Assets of 8.87%. This is amongst the best in the industry. FPI outperforms 96.43% of its industry peers.
  • FPI has a better Return On Equity (14.58%) than 78.57% of its industry peers.
  • FPI has a Return On Invested Capital of 2.43%. This is in the lower half of the industry: FPI underperforms 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 4.75%.
  • The 3 year average ROIC (2.05%) for FPI is below the current ROIC(2.43%), indicating increased profibility in the last year.
Industry RankSector 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%
FPI Yearly ROA, ROE, ROICFPI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

1.3 Margins

  • With an excellent Profit Margin value of 123.81%, FPI belongs to the best 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.
  • FPI has a better Operating Margin (42.35%) than 64.29% of its industry peers.
  • FPI's Operating Margin has declined in the last couple of years.
  • The Gross Margin of FPI (78.72%) is better than 71.43% of its industry peers.
  • In the last couple of years the Gross Margin of FPI has remained more or less at the same level.
Industry RankSector 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%
FPI Yearly Profit, Operating, Gross MarginsFPI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FPI is destroying value.
  • There is no outstanding debt for FPI. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
FPI Yearly Shares OutstandingFPI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 200M 400M 600M 800M 1B

2.2 Solvency

  • Based on the Altman-Z score of 1.12, we must say that FPI is in the distress zone and has some risk of bankruptcy.
  • FPI has a Altman-Z score of 1.12. This is in the better half of the industry: FPI outperforms 60.71% of its industry peers.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 23.33, FPI is in line with its industry, outperforming 50.00% of the companies in the same industry.
  • A Debt/Equity ratio of 0.38 indicates that FPI is not too dependend on debt financing.
  • FPI has a Debt to Equity ratio of 0.38. This is amongst the best in the industry. FPI outperforms 96.43% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 23.33
Altman-Z 1.12
ROIC/WACC0.29
WACC8.35%
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 0 200M -200M 400M

2.3 Liquidity

  • A Current Ratio of 2.09 indicates that FPI has no problem at all paying its short term obligations.
  • FPI has a better Current ratio (2.09) than 85.71% of its industry peers.
  • 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.
  • FPI has a better Quick ratio (1.88) than 85.71% of its industry peers.
Industry RankSector Rank
Current Ratio 2.09
Quick Ratio 1.88
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 20M 40M 60M 80M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

1

3. Growth

3.1 Past

  • The earnings per share for FPI have decreased strongly by -29.52% in the last year.
  • FPI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 66.61% yearly.
EPS 1Y (TTM)-29.52%
EPS 3Y66.61%
EPS 5YN/A
EPS Q2Q%-76.85%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-3.51%

3.2 Future

  • The Earnings Per Share is expected to decrease by -53.27% on average over the next years. This is quite bad
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y-79.53%
EPS Next 2Y-53.27%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-16.19%
Revenue Next 2YN/A
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.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
FPI Yearly Revenue VS EstimatesFPI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 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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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 16.42 indicates a correct valuation of FPI.
  • Based on the Price/Earnings ratio, FPI is valued cheaper than 89.29% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.99. FPI is valued slightly cheaper when compared to this.
  • With a Price/Forward Earnings ratio of 80.20, FPI can be considered very expensive at the moment.
  • 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 28.02.
Industry RankSector Rank
PE 16.42
Fwd PE 80.2
FPI Price Earnings VS Forward Price EarningsFPI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • 60.71% of the companies in the same industry are cheaper than FPI, based on the Enterprise Value to EBITDA ratio.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as FPI.
Industry RankSector Rank
P/FCF 71.92
EV/EBITDA 24.84
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 -53.27% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-53.27%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • FPI has a Yearly Dividend Yield of 3.03%. Purely for dividend investing, there may be better candidates out there.
  • FPI's Dividend Yield is slightly below the industry average, which is at 5.43.
  • FPI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 3.03%

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
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

  • 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-53.27%
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 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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FARMLAND PARTNERS INC

NYSE:FPI (2/23/2026, 9:57:08 AM)

12.15

+0.26 (+2.19%)

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 Owners61.4%
Inst Owner Change-5.33%
Ins Owners7.86%
Ins Owner Change2.82%
Market Cap523.66M
Revenue(TTM)N/A
Net Income(TTM)65.54M
Analysts74.29
Price Target12.41 (2.14%)
Short Float %6.53%
Short Ratio4.89
Dividend
Industry RankSector Rank
Dividend Yield 3.03%
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP102.25%
Div Incr Years3
Div Non Decr Years5
Ex-Date01-02
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)2.46%
PT rev (3m)-0.68%
EPS NQ rev (1m)70%
EPS NQ rev (3m)17.24%
EPS NY rev (1m)15.52%
EPS NY rev (3m)-6.94%
Revenue NQ rev (1m)-0.15%
Revenue NQ rev (3m)-0.37%
Revenue NY rev (1m)0.69%
Revenue NY rev (3m)1.24%
Valuation
Industry RankSector Rank
PE 16.42
Fwd PE 80.2
P/S 9.89
P/FCF 71.92
P/OCF 31.08
P/B 1.17
P/tB 1.18
EV/EBITDA 24.84
EPS(TTM)0.74
EY6.09%
EPS(NY)0.15
Fwd EY1.25%
FCF(TTM)0.17
FCFY1.39%
OCF(TTM)0.39
OCFY3.22%
SpS1.23
BVpS10.43
TBVpS10.33
PEG (NY)N/A
PEG (5Y)N/A
Graham Number13.18
Profitability
Industry RankSector 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 RankSector 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 1.12
F-Score8
WACC8.35%
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)-29.52%
EPS 3Y66.61%
EPS 5YN/A
EPS Q2Q%-76.85%
EPS Next Y-79.53%
EPS Next 2Y-53.27%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-3.51%
Revenue Next Year-16.19%
Revenue Next 2YN/A
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 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 -79.53% in the next year.


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

The dividend rating of FARMLAND PARTNERS INC (FPI) is 4 / 10 and the dividend payout ratio is 102.25%.