FARMLAND PARTNERS INC (FPI) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:FPI - US31154R1095 - REIT
10.7 USD
+0.12 (+1.13%)
10.7 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 on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
- FPI had positive earnings in the past year.
- FPI had a positive operating cash flow in the past year.
- 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
- 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.
- The Return On Invested Capital of FPI (2.43%) is worse than 63.33% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for FPI 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 has a Profit Margin of 123.81%. This is amongst the best in the industry. FPI outperforms 100.00% of its industry peers.
- FPI's Profit Margin has improved in the last couple of years.
- FPI has a better Operating Margin (42.35%) than 66.67% of its industry peers.
- FPI's Operating Margin has declined in the last couple of years.
- 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.
- 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.
- Compared to 1 year ago, FPI has less shares outstanding
- Compared to 5 years ago, FPI has more shares outstanding
- Compared to 1 year ago, FPI has an improved debt to assets ratio.
2.2 Solvency
- Based on the Altman-Z score of 1.00, we must say that FPI is in the distress zone and has some risk of bankruptcy.
- FPI has a Altman-Z score (1.00) which is in line with 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.
- The Debt to FCF ratio of FPI (23.33) is comparable to the rest of the industry.
- FPI has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
- 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 | 1 |
ROIC/WACC0.29
WACC8.53%
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 has a better Current ratio (2.09) than 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.
- The Earnings Per Share has been growing by 90.67% on average over the past years. This is a very strong growth
- The Revenue has decreased by -9.27% in the past year.
- FPI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.68% yearly.
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
- 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 6.82 indicates a rather cheap valuation of FPI.
- Based on the Price/Earnings ratio, FPI is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
- The average S&P500 Price/Earnings ratio is at 27.47. FPI is valued rather cheaply when compared to this.
- Based on the Price/Forward Earnings ratio of 75.67, the valuation of FPI can be described as expensive.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of FPI indicates a slightly more expensive valuation: FPI is more expensive than 63.33% of the companies listed 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 24.26.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.82 | ||
| Fwd PE | 75.67 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FPI is valued a bit more expensive than 66.67% of the companies in the same industry.
- FPI's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 63.34 | ||
| EV/EBITDA | 22.75 |
4.3 Compensation for Growth
- The decent profitability rating of FPI 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)0.08
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
- FPI has a Yearly Dividend Yield of 2.27%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 5.67, FPI's dividend is way lower than its industry peers. On top of this 90.00% of the companies listed in the same industry pay a better dividend than FPI!
- FPI's Dividend Yield is a higher than the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
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.
- 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%
10.7
+0.12 (+1.13%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)10-29 2025-10-29/amc
Earnings (Next)02-17 2026-02-17/amc
Inst Owners61.4%
Inst Owner Change0.07%
Ins Owners7.86%
Ins Owner Change0.55%
Market Cap461.17M
Revenue(TTM)52.94M
Net Income(TTM)65.54M
Analysts77.5
Price Target12.11 (13.18%)
Short Float %6.63%
Short Ratio4.76
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
Yearly Dividend0.52
Dividend Growth(5Y)-3.18%
DP102.25%
Div Incr Years3
Div Non Decr Years5
Ex-Date01-02 2026-01-02 (0.06)
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)-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 | 6.82 | ||
| Fwd PE | 75.67 | ||
| P/S | 8.71 | ||
| P/FCF | 63.34 | ||
| P/OCF | 27.37 | ||
| P/B | 1.03 | ||
| P/tB | 1.04 | ||
| EV/EBITDA | 22.75 |
EPS(TTM)1.57
EY14.67%
EPS(NY)0.14
Fwd EY1.32%
FCF(TTM)0.17
FCFY1.58%
OCF(TTM)0.39
OCFY3.65%
SpS1.23
BVpS10.43
TBVpS10.33
PEG (NY)N/A
PEG (5Y)0.08
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 | 1 |
F-Score8
WACC8.53%
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%.