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%)
Taking everything into account, FPI scores 5 out of 10 in our fundamental rating. 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
FPI had positive earnings in the past year.
In the past year FPI had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: FPI reported negative net income in multiple years.
Each year in the past 5 years FPI had a positive operating cash flow.
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.
With a decent Return On Equity value of 14.58%, FPI is doing good in the industry, outperforming 80.00% of the companies in the same industry.
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 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
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.
With a decent Operating Margin value of 42.35%, FPI is doing good in 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's Gross Margin of 78.72% is fine compared to the rest 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FPI is destroying value.
The number of shares outstanding for FPI has been reduced compared to 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.
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.
With a Altman-Z score value of 0.96, FPI perfoms like the industry average, outperforming 53.33% of the companies in the same industry.
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.
FPI has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
FPI has a better Debt to Equity ratio (0.38) than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.38 | ||
| Debt/FCF | 23.33 | ||
| Altman-Z | 0.96 |
ROIC/WACC0.29
WACC8.45%
2.3 Liquidity
A Current Ratio of 2.09 indicates that FPI has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.09, FPI belongs to the top 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.
The Quick ratio of FPI (1.88) is better 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.
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.
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
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
FPI is valuated cheaply with a Price/Earnings ratio of 6.44.
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 (27.19), we can say FPI is valued rather cheaply.
A Price/Forward Earnings ratio of 71.50 indicates a quite expensive valuation of FPI.
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.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.88, FPI is valued quite expensively.
| 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.
FPI's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 59.85 | ||
| EV/EBITDA | 21.99 |
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)0.07
EPS Next 2Y-63.3%
EPS Next 3Y-46.41%
5. Dividend
5.1 Amount
FPI has a Yearly Dividend Yield of 2.37%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 5.70, 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 1.90.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.37% |
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.
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 | 2.37% |
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)-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 | 21.99 |
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%.