FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA • New York Stock Exchange • NYSE:FPI • US31154R1095
11.61 USD
+0.2 (+1.75%)
At close: Jan 30, 2026
11.6196 USD
+0.01 (+0.08%)
After Hours: 1/30/2026, 8:04:00 PM
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
- In the past year FPI was profitable.
- FPI had a positive operating cash flow in the past year.
- In multiple years FPI reported negative net income over the last 5 years.
- In the past 5 years FPI always reported a positive cash flow from operatings.
1.2 Ratios
- The Return On Assets of FPI (8.87%) is better than 96.67% of its industry peers.
- 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 has a Return On Invested Capital of 2.43%. This is in the lower half of the industry: FPI underperforms 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
- FPI has a better Profit Margin (123.81%) than 100.00% of its industry peers.
- FPI's Profit Margin has improved in the last couple of years.
- FPI has a Operating Margin of 42.35%. This is in the better half of the industry: FPI outperforms 66.67% of its industry peers.
- In the last couple of years the Operating Margin of FPI has declined.
- The Gross Margin of FPI (78.72%) is better 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.
- FPI has less shares outstanding than it did 1 year ago.
- Compared to 5 years ago, FPI has more shares outstanding
- FPI has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.07, we must say that FPI is in the distress zone and has some risk of bankruptcy.
- FPI has a Altman-Z score of 1.07. This is comparable to the rest of the industry: FPI outperforms 53.33% 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 46.67% of the companies in the same industry.
- FPI has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
- With an excellent Debt to Equity ratio value of 0.38, FPI belongs to the best 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 | 1.07 |
ROIC/WACC0.29
WACC8.51%
2.3 Liquidity
- A Current Ratio of 2.09 indicates that FPI has no problem at all paying 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.
- 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
- 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.
- 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.
- 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.
- Based on estimates for the next years, FPI will show a very negative growth in Revenue. The Revenue will decrease by -12.66% on average per year.
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
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
- 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
- FPI is valuated cheaply with a Price/Earnings ratio of 7.39.
- 100.00% of the companies in the same industry are more expensive than FPI, based on the Price/Earnings ratio.
- When comparing the Price/Earnings ratio of FPI to the average of the S&P500 Index (28.30), we can say FPI is valued rather cheaply.
- Based on the Price/Forward Earnings ratio of 82.11, the valuation of FPI can be described as expensive.
- Based on the Price/Forward Earnings ratio, FPI is valued a bit more expensive than 63.33% of the companies in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 25.57, FPI is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.39 | ||
| Fwd PE | 82.11 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FPI is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
- FPI's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 68.73 | ||
| EV/EBITDA | 24.07 |
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)0.08
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
- FPI has a Yearly Dividend Yield of 2.10%. Purely for dividend investing, there may be better candidates out there.
- With a Dividend Yield of 2.10, FPI pays less dividend than the industry average, which is at 5.51. 90.00% 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 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.1% |
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%
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%.