FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
10.11 USD
-0.02 (-0.2%)
10.11 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to FPI. FPI was compared to 30 industry peers in the Specialized REITs industry. FPI has an average financial health and profitability rating. 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.
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.
FPI had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
FPI's Return On Assets of 8.87% is amongst the best of the industry. FPI outperforms 96.67% of its industry peers.
FPI has a better Return On Equity (14.58%) than 80.00% of its industry peers.
With a Return On Invested Capital value of 2.43%, FPI is not doing good in the industry: 63.33% of the companies in the same industry are doing better.
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 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
FPI's Profit Margin of 123.81% is amongst the best of the industry. FPI outperforms 100.00% of its industry peers.
In the last couple of years the Profit Margin of FPI has grown nicely.
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
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.
FPI has more shares outstanding than it did 5 years ago.
The debt/assets ratio for FPI has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.96, we must say that FPI is in the distress zone and has some risk of bankruptcy.
FPI has a Altman-Z score of 0.96. This is comparable to the rest of the industry: FPI outperforms 53.33% of its industry peers.
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 has a Debt to FCF ratio (23.33) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.38 indicates that FPI is not too dependend on debt financing.
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 | 0.96 |
ROIC/WACC0.29
WACC8.45%
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 has a better Quick ratio (1.88) than 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 -46.41% on average per year.
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 6.44.
Compared to the rest of the industry, the Price/Earnings ratio of FPI indicates a rather cheap valuation: FPI is cheaper than 100.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.19. FPI is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 71.50, 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 63.33% 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 23.88.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.44 | ||
| Fwd PE | 71.5 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 66.67% of the companies listed 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 | 59.85 | ||
| EV/EBITDA | 22.03 |
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 -46.41% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.07
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
FPI has a Yearly Dividend Yield of 2.48%.
Compared to an average industry Dividend Yield of 5.69, FPI's dividend is way lower than its industry peers. On top of this 83.33% of the companies listed in the same industry pay a better dividend than FPI!
Compared to an average S&P500 Dividend Yield of 1.94, FPI pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.48% |
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.
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-63.3%
EPS Next 3Y-46.41%
10.11
-0.02 (-0.2%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners61.4%
Inst Owner Change0%
Ins Owners7.86%
Ins Owner Change0.55%
Market Cap435.74M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.11 (19.78%)
Short Float %6.63%
Short Ratio4.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.48% |
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)-31.03%
EPS NQ rev (3m)-31.03%
EPS NY rev (1m)-19.44%
EPS NY rev (3m)-4.92%
Revenue NQ rev (1m)-0.22%
Revenue NQ rev (3m)-0.22%
Revenue NY rev (1m)0.55%
Revenue NY rev (3m)0.55%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.44 | ||
| Fwd PE | 71.5 | ||
| P/S | 8.23 | ||
| P/FCF | 59.85 | ||
| P/OCF | 25.86 | ||
| P/B | 0.97 | ||
| P/tB | 0.98 | ||
| EV/EBITDA | 22.03 |
EPS(TTM)1.57
EY15.53%
EPS(NY)0.14
Fwd EY1.4%
FCF(TTM)0.17
FCFY1.67%
OCF(TTM)0.39
OCFY3.87%
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 | 0.96 |
F-Score8
WACC8.45%
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-72.1%
EPS Next 2Y-63.3%
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-15.37%
Revenue Next 2Y-12.66%
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.
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%.