FARMLAND PARTNERS INC (FPI) Fundamental Analysis & Valuation

NYSE:FPI • US31154R1095

Current stock price

11.67 USD
-0.04 (-0.34%)
At close:
11.6 USD
-0.07 (-0.6%)
Pre-Market:

This FPI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. FPI Profitability Analysis

1.1 Basic Checks

  • FPI had positive earnings in the past year.
  • FPI had a positive operating cash flow in the past year.
  • FPI had positive earnings in 4 of the past 5 years.
  • In the past 5 years FPI always reported a positive cash flow from operatings.
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 2025 0 50M -50M -100M -150M -200M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 4.00%, FPI is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
  • FPI has a Return On Equity (6.27%) which is in line with its industry peers.
  • The Return On Invested Capital of FPI (2.60%) is worse than 60.71% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for FPI is below the industry average of 5.09%.
  • The 3 year average ROIC (2.34%) for FPI is below the current ROIC(2.60%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4%
ROE 6.27%
ROIC 2.6%
ROA(3y)4.4%
ROA(5y)2.68%
ROE(3y)7.79%
ROE(5y)4.71%
ROIC(3y)2.34%
ROIC(5y)1.99%
FPI Yearly ROA, ROE, ROICFPI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4 6 8 10

1.3 Margins

  • FPI's Profit Margin of 55.19% is amongst the best of the industry. FPI outperforms 92.86% of its industry peers.
  • FPI's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 44.19%, FPI is in the better half of the industry, outperforming 67.86% of the companies in the same industry.
  • FPI's Operating Margin has been stable in the last couple of years.
  • FPI has a better Gross Margin (80.33%) than 82.14% 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 44.19%
PM (TTM) 55.19%
GM 80.33%
OM growth 3Y2.55%
OM growth 5Y0.05%
PM growth 3Y59.03%
PM growth 5YN/A
GM growth 3Y1.48%
GM growth 5Y0.38%
FPI Yearly Profit, Operating, Gross MarginsFPI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60 80

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4

2. FPI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), 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
  • Compared to 1 year ago, FPI has an improved debt to assets ratio.
FPI Yearly Shares OutstandingFPI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • Based on the Altman-Z score of 1.23, we must say that FPI is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of FPI (1.23) is comparable to the rest of the industry.
  • FPI has a debt to FCF ratio of 16.79. This is a negative value and a sign of low solvency as FPI would need 16.79 years to pay back of all of its debts.
  • FPI's Debt to FCF ratio of 16.79 is fine compared to the rest of the industry. FPI outperforms 60.71% of its industry peers.
  • A Debt/Equity ratio of 0.35 indicates that FPI is not too dependend on debt financing.
  • FPI's Debt to Equity ratio of 0.35 is amongst the best of the industry. FPI outperforms 92.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Altman-Z 1.23
ROIC/WACC0.32
WACC8.1%
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 2025 0 200M -200M 400M

2.3 Liquidity

  • A Current Ratio of 0.84 indicates that FPI may have some problems paying its short term obligations.
  • The Current ratio of FPI (0.84) is comparable to the rest of the industry.
  • A Quick Ratio of 0.72 indicates that FPI may have some problems paying its short term obligations.
  • FPI has a Quick ratio (0.72) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.72
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 2025 20M 40M 60M 80M

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

2

3. FPI Growth Analysis

3.1 Past

  • FPI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -12.38%.
  • Measured over the past years, FPI shows a very strong growth in Earnings Per Share. The EPS has been growing by 79.15% on average per year.
  • Looking at the last year, FPI shows a very negative growth in Revenue. The Revenue has decreased by -10.39% in the last year.
  • FPI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.58% yearly.
EPS 1Y (TTM)-12.38%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%-60.19%
Revenue 1Y (TTM)-10.39%
Revenue growth 3Y-5.18%
Revenue growth 5Y0.58%
Sales Q2Q%-3.53%

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 -50.86% yearly.
  • Based on estimates for the next years, FPI will show a decrease in Revenue. The Revenue will decrease by -4.27% on average per year.
EPS Next Y-79.14%
EPS Next 2Y-50.86%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-7.71%
Revenue Next 2Y-4.27%
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.
FPI Yearly Revenue VS EstimatesFPI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 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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3

4. FPI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 12.68, the valuation of FPI can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of FPI indicates a rather cheap valuation: FPI is cheaper than 92.86% of the companies listed in the same industry.
  • FPI is valuated cheaply when we compare the Price/Earnings ratio to 27.15, which is the current average of the S&P500 Index.
  • A Price/Forward Earnings ratio of 60.81 indicates a quite expensive valuation of FPI.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of FPI is on the same level as its industry peers.
  • FPI's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.12.
Industry RankSector Rank
PE 12.68
Fwd PE 60.81
FPI Price Earnings VS Forward Price EarningsFPI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

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 67.86% of the companies listed in the same industry.
  • FPI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 53.14
EV/EBITDA 24.27
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

  • 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 -50.86% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-50.86%
EPS Next 3YN/A

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

4

5. FPI Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 3.10%, FPI has a reasonable but not impressive dividend return.
  • FPI's Dividend Yield is slightly below the industry average, which is at 4.26.
  • FPI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.1%

5.2 History

  • The dividend of FPI is nicely growing with an annual growth rate of 19.96%!
  • FPI has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)19.96%
Div Incr Years0
Div Non Decr Years0
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

  • 231.67% of the earnings are spent on dividend by FPI. This is not a sustainable payout ratio.
  • FPI's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP231.67%
EPS Next 2Y-50.86%
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 2025 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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FPI Fundamentals: All Metrics, Ratios and Statistics

FARMLAND PARTNERS INC

NYSE:FPI (4/27/2026, 8:04:00 PM)

Premarket: 11.6 -0.07 (-0.6%)

11.67

-0.04 (-0.34%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-18
Earnings (Next)04-29
Inst Owners59.26%
Inst Owner Change-0.2%
Ins Owners7.88%
Ins Owner Change2.12%
Market Cap509.16M
Revenue(TTM)52.18M
Net Income(TTM)28.80M
Analysts48
Price Target13.26 (13.62%)
Short Float %5.39%
Short Ratio3.98
Dividend
Industry RankSector Rank
Dividend Yield 3.1%
Yearly Dividend1.5
Dividend Growth(5Y)19.96%
DP231.67%
Div Incr Years0
Div Non Decr Years0
Ex-Date04-01
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)45.02%
Min EPS beat(2)-60.4%
Max EPS beat(2)150.44%
EPS beat(4)3
Avg EPS beat(4)3354.44%
Min EPS beat(4)-60.4%
Max EPS beat(4)12982.4%
EPS beat(8)5
Avg EPS beat(8)1704.17%
EPS beat(12)8
Avg EPS beat(12)1204.34%
EPS beat(16)10
Avg EPS beat(16)921.09%
Revenue beat(2)2
Avg Revenue beat(2)12.4%
Min Revenue beat(2)5.17%
Max Revenue beat(2)19.64%
Revenue beat(4)4
Avg Revenue beat(4)8.4%
Min Revenue beat(4)1.81%
Max Revenue beat(4)19.64%
Revenue beat(8)6
Avg Revenue beat(8)5.23%
Revenue beat(12)6
Avg Revenue beat(12)0.9%
Revenue beat(16)9
Avg Revenue beat(16)2.86%
PT rev (1m)0%
PT rev (3m)9.47%
EPS NQ rev (1m)-20%
EPS NQ rev (3m)100%
EPS NY rev (1m)0%
EPS NY rev (3m)35.71%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)8.45%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.09%
Valuation
Industry RankSector Rank
PE 12.68
Fwd PE 60.81
P/S 9.76
P/FCF 53.14
P/OCF 29.22
P/B 1.11
P/tB 1.11
EV/EBITDA 24.27
EPS(TTM)0.92
EY7.88%
EPS(NY)0.19
Fwd EY1.64%
FCF(TTM)0.22
FCFY1.88%
OCF(TTM)0.4
OCFY3.42%
SpS1.2
BVpS10.53
TBVpS10.53
PEG (NY)N/A
PEG (5Y)N/A
Graham Number14.7627 (26.5%)
Profitability
Industry RankSector Rank
ROA 4%
ROE 6.27%
ROCE 3.29%
ROIC 2.6%
ROICexc 2.64%
ROICexgc 2.64%
OM 44.19%
PM (TTM) 55.19%
GM 80.33%
FCFM 18.36%
ROA(3y)4.4%
ROA(5y)2.68%
ROE(3y)7.79%
ROE(5y)4.71%
ROIC(3y)2.34%
ROIC(5y)1.99%
ROICexc(3y)2.44%
ROICexc(5y)2.06%
ROICexgc(3y)2.45%
ROICexgc(5y)2.07%
ROCE(3y)2.96%
ROCE(5y)2.52%
ROICexgc growth 3Y14.46%
ROICexgc growth 5Y9.4%
ROICexc growth 3Y14.68%
ROICexc growth 5Y9.39%
OM growth 3Y2.55%
OM growth 5Y0.05%
PM growth 3Y59.03%
PM growth 5YN/A
GM growth 3Y1.48%
GM growth 5Y0.38%
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Debt/EBITDA 5.91
Cap/Depr 188.22%
Cap/Sales 15.04%
Interest Coverage 2.12
Cash Conversion 64.01%
Profit Quality 33.27%
Current Ratio 0.84
Quick Ratio 0.72
Altman-Z 1.23
F-Score5
WACC8.1%
ROIC/WACC0.32
Cap/Depr(3y)302.8%
Cap/Depr(5y)570.19%
Cap/Sales(3y)32.34%
Cap/Sales(5y)71.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.38%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%-60.19%
EPS Next Y-79.14%
EPS Next 2Y-50.86%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-10.39%
Revenue growth 3Y-5.18%
Revenue growth 5Y0.58%
Sales Q2Q%-3.53%
Revenue Next Year-7.71%
Revenue Next 2Y-4.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-9.6%
EBIT growth 3Y-2.77%
EBIT growth 5Y0.63%
EBIT Next Year137.49%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y394.89%
FCF growth 3YN/A
FCF growth 5Y-9.93%
OCF growth 1Y7.95%
OCF growth 3Y0.73%
OCF growth 5Y-2.45%

FARMLAND PARTNERS INC / FPI Fundamental Analysis 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 for FPI stock?

ChartMill assigns a valuation rating of 3 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Overvalued.


What is the profitability of FPI stock?

FARMLAND PARTNERS INC (FPI) has a profitability rating of 6 / 10.


What are the PE and PB ratios of FARMLAND PARTNERS INC (FPI) stock?

The Price/Earnings (PE) ratio for FARMLAND PARTNERS INC (FPI) is 12.68 and the Price/Book (PB) ratio is 1.11.


What is the earnings growth outlook for FARMLAND PARTNERS INC?

The Earnings per Share (EPS) of FARMLAND PARTNERS INC (FPI) is expected to decline by -79.14% in the next year.