FARMLAND PARTNERS INC (FPI) Fundamental Analysis & Valuation

NYSE:FPI • US31154R1095

Current stock price

10.71 USD
-0.04 (-0.37%)
At close:
10.73 USD
+0.02 (+0.19%)
After Hours:

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

  • In the past year FPI was profitable.
  • FPI had a positive operating cash flow in the past year.
  • FPI had positive earnings in 4 of the past 5 years.
  • FPI had a positive operating cash flow in each of the past 5 years.
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

  • FPI's Return On Assets of 4.00% is fine compared to the rest of the industry. FPI outperforms 71.43% of its industry peers.
  • FPI has a Return On Equity (6.27%) which is in line with its industry peers.
  • With a Return On Invested Capital value of 2.60%, FPI is not doing good in the industry: 60.71% of the companies in the same industry are doing better.
  • 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 has a better Profit Margin (55.19%) than 92.86% of its industry peers.
  • In the last couple of years the Profit Margin of FPI has grown nicely.
  • FPI has a Operating Margin of 44.19%. This is in the better half of the industry: FPI outperforms 67.86% of its industry peers.
  • In the last couple of years the Operating Margin of FPI has remained more or less at the same level.
  • FPI has a Gross Margin of 80.33%. This is amongst the best in the industry. FPI outperforms 82.14% of its industry peers.
  • FPI's Gross Margin has been stable in the last couple of years.
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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so FPI is destroying value.
  • FPI has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for FPI has been increased compared to 5 years ago.
  • 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

  • FPI has an Altman-Z score of 1.13. This is a bad value and indicates that FPI is not financially healthy and even has some risk of bankruptcy.
  • FPI has a Altman-Z score (1.13) which is comparable to the rest of the industry.
  • The Debt to FCF ratio of FPI is 16.79, which is on the high side as it means it would take FPI, 16.79 years of fcf income to pay off all of its debts.
  • FPI has a better Debt to FCF ratio (16.79) than 60.71% of its industry peers.
  • FPI has a Debt/Equity ratio of 0.35. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of FPI (0.35) is better than 92.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.35
Debt/FCF 16.79
Altman-Z 1.13
ROIC/WACC0.32
WACC8.15%
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.
  • FPI has a Current ratio of 0.84. This is comparable to the rest of the industry: FPI outperforms 53.57% of its industry peers.
  • 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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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 -12.15%.
  • FPI shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 79.15% yearly.
  • FPI shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -10.39%.
  • Measured over the past years, FPI shows a small growth in Revenue. The Revenue has been growing by 0.58% on average per year.
EPS 1Y (TTM)-12.15%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%66.67%
Revenue 1Y (TTM)-10.39%
Revenue growth 3Y-5.18%
Revenue growth 5Y0.58%
Sales Q2Q%-1.48%

3.2 Future

  • The Earnings Per Share is expected to decrease by -50.86% on average over the next years. This is quite bad
  • 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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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4

4. FPI Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 11.39, the valuation of FPI can be described as very reasonable.
  • Based on the Price/Earnings ratio, FPI is valued cheaply inside the industry as 92.86% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 26.64, FPI is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 48.20, the valuation of FPI can be described as expensive.
  • FPI's Price/Forward Earnings ratio is in line with the industry average.
  • FPI is valuated expensively when we compare the Price/Forward Earnings ratio to 21.36, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.39
Fwd PE 48.2
FPI Price Earnings VS Forward Price EarningsFPI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • FPI's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. FPI is more expensive than 60.71% of the companies in the same industry.
  • FPI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 48.77
EV/EBITDA 22.73
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.
  • FPI's earnings are expected to decrease with -50.86% in the coming years. This may justify a cheaper valuation.
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 3.35%, FPI has a reasonable but not impressive dividend return.
  • FPI's Dividend Yield is slightly below the industry average, which is at 4.43.
  • Compared to an average S&P500 Dividend Yield of 1.80, FPI pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.35%

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

  • FPI pays out 231.67% of its income as dividend. This is not a sustainable payout ratio.
  • The Dividend Rate of FPI has been growing, while earnings will be declining. 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 (5/1/2026, 8:04:00 PM)

After market: 10.73 +0.02 (+0.19%)

10.71

-0.04 (-0.37%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Industry Strength49.69
Industry Growth60.87
Earnings (Last)04-29
Earnings (Next)07-21
Inst Owners59.26%
Inst Owner Change-0.73%
Ins Owners7.88%
Ins Owner Change2.52%
Market Cap467.28M
Revenue(TTM)52.18M
Net Income(TTM)28.80M
Analysts48
Price Target13.26 (23.81%)
Short Float %5.39%
Short Ratio3.98
Dividend
Industry RankSector Rank
Dividend Yield 3.35%
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 11.39
Fwd PE 48.2
P/S 8.96
P/FCF 48.77
P/OCF 26.81
P/B 1.02
P/tB 1.02
EV/EBITDA 22.73
EPS(TTM)0.94
EY8.78%
EPS(NY)0.22
Fwd EY2.07%
FCF(TTM)0.22
FCFY2.05%
OCF(TTM)0.4
OCFY3.73%
SpS1.2
BVpS10.53
TBVpS10.53
PEG (NY)N/A
PEG (5Y)N/A
Graham Number14.9223 (39.33%)
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 1.13
F-Score5
WACC8.15%
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)-12.15%
EPS 3Y79.15%
EPS 5YN/A
EPS Q2Q%66.67%
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%-1.48%
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 4 / 10 to FARMLAND PARTNERS INC (FPI). This can be considered as Fairly Valued.


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 11.39 and the Price/Book (PB) ratio is 1.02.


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.