FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
9.84 USD
+0.07 (+0.72%)
9.85 USD
+0.01 (+0.1%)
FPI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. FPI has only an average score on both its financial health and profitability. 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
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
Looking at the Return On Assets, with a value of 8.87%, FPI belongs to the top of the industry, outperforming 96.67% of the companies in the same industry.
FPI's Return On Equity of 14.58% is fine compared to the rest of the industry. FPI outperforms 80.00% of its industry peers.
FPI's Return On Invested Capital of 2.43% is on the low side compared to the rest of the industry. FPI is outperformed by 66.67% 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 4.77%.
The last Return On Invested Capital (2.43%) for FPI is above the 3 year average (2.05%), which is a sign of increasing profitability.
| 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
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.
FPI's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 42.35%, FPI is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
In the last couple of years the Operating Margin of FPI has declined.
FPI has a Gross Margin of 78.72%. This is in the better half of the industry: FPI outperforms 70.00% 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 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.
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 0.93. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of FPI (0.93) is comparable to the rest of the 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 in line with its industry peers.
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 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 0.93 |
ROIC/WACC0.3
WACC8.2%
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.
FPI's Current ratio of 2.09 is amongst the best of the industry. FPI outperforms 86.67% 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'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.
Looking at the last year, FPI shows a decrease in Revenue. The Revenue has decreased by -9.27% in the last year.
The Revenue has been growing slightly by 1.68% on average over the past years.
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
Based on estimates for the next years, FPI will show a very negative growth in Earnings Per Share. The EPS will decrease by -44.26% on average per year.
FPI is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -10.87% yearly.
EPS Next Y-65.37%
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 6.27, the valuation of FPI can be described as very cheap.
Based on the Price/Earnings ratio, FPI is valued cheaper than 100.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.31. FPI is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 59.05 indicates a quite expensive valuation of FPI.
Based on the Price/Forward Earnings ratio, FPI is valued a bit more expensive than 66.67% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 36.56. FPI is valued rather expensively when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.27 | ||
| Fwd PE | 59.05 |
4.2 Price Multiples
FPI's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FPI is more expensive than 66.67% of the companies in the same industry.
FPI's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 58.25 | ||
| EV/EBITDA | 21.56 |
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 -44.26% in the coming years.
PEG (NY)N/A
PEG (5Y)0.07
EPS Next 2Y-60.16%
EPS Next 3Y-44.26%
5. Dividend
5.1 Amount
FPI has a Yearly Dividend Yield of 2.46%.
With a Dividend Yield of 2.46, FPI pays less dividend than the industry average, which is at 6.00. 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 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.46% |
5.2 History
The dividend of FPI decreases each year by -3.18%.
FPI has been paying a dividend for at least 10 years, so it has 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
FPI pays out 102.25% of its income as dividend. 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-44.26%
9.84
+0.07 (+0.72%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners60.68%
Inst Owner Change-6.3%
Ins Owners7.65%
Ins Owner Change0.44%
Market Cap424.10M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.5 (27.03%)
Short Float %6.45%
Short Ratio6.33
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.46% |
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)0%
PT rev (3m)0%
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 | 6.27 | ||
| Fwd PE | 59.05 | ||
| P/S | 8.01 | ||
| P/FCF | 58.25 | ||
| P/OCF | 25.17 | ||
| P/B | 0.94 | ||
| P/tB | 0.95 | ||
| EV/EBITDA | 21.56 |
EPS(TTM)1.57
EY15.96%
EPS(NY)0.17
Fwd EY1.69%
FCF(TTM)0.17
FCFY1.72%
OCF(TTM)0.39
OCFY3.97%
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 | 0.93 |
F-Score8
WACC8.2%
ROIC/WACC0.3
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-44.26%
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.