FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
9.95 USD
0 (0%)
9.95 USD
0 (0%)
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 an average financial health and profitability rating. FPI is valued correctly, 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.
In multiple years FPI reported negative net income over the last 5 years.
Each year in the past 5 years FPI had a positive operating cash flow.
1.2 Ratios
The Return On Assets of FPI (8.87%) is better than 96.67% of its industry peers.
The Return On Equity of FPI (14.58%) is better than 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 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
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 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.
FPI has a better Gross Margin (78.72%) 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
FPI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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.
The debt/assets ratio for FPI has been reduced compared to a year ago.
2.2 Solvency
FPI has an Altman-Z score of 0.94. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.94, FPI perfoms like the industry average, outperforming 50.00% of the companies in the same 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'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's Debt to Equity ratio of 0.38 is amongst the best of the industry. FPI outperforms 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 0.94 |
ROIC/WACC0.29
WACC8.26%
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.
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.
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
A Price/Earnings ratio of 6.34 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.
When comparing the Price/Earnings ratio of FPI to the average of the S&P500 Index (26.46), we can say FPI is valued rather cheaply.
With a Price/Forward Earnings ratio of 59.71, FPI can be considered very expensive at the moment.
Based on the Price/Forward Earnings ratio, FPI is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
When comparing the Price/Forward Earnings ratio of FPI to the average of the S&P500 Index (36.10), we can say FPI is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.34 | ||
| Fwd PE | 59.71 |
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.
The rest of the industry has a similar Price/Free Cash Flow ratio as FPI.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 58.9 | ||
| EV/EBITDA | 21.74 |
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 -44.26% in the coming years. This may justify a cheaper valuation.
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%.
Compared to an average industry Dividend Yield of 6.00, FPI's dividend is way lower than its industry peers. On top of this 86.67% of the companies listed in the same industry pay a better dividend than FPI!
Compared to an average S&P500 Dividend Yield of 2.32, FPI has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.46% |
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
FPI pays out 102.25% of its income as dividend. 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-60.16%
EPS Next 3Y-44.26%
9.95
0 (0%)
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 Cap428.84M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.5 (25.63%)
Short Float %6.79%
Short Ratio5.65
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 | 6.34 | ||
| Fwd PE | 59.71 | ||
| P/S | 8.1 | ||
| P/FCF | 58.9 | ||
| P/OCF | 25.46 | ||
| P/B | 0.95 | ||
| P/tB | 0.96 | ||
| EV/EBITDA | 21.74 |
EPS(TTM)1.57
EY15.78%
EPS(NY)0.17
Fwd EY1.67%
FCF(TTM)0.17
FCFY1.7%
OCF(TTM)0.39
OCFY3.93%
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 | 0.94 |
F-Score8
WACC8.26%
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-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.