GLADSTONE LAND CORP (LAND) Stock Fundamental Analysis
NASDAQ:LAND - Nasdaq - US3765491010 - REIT - Currency: USD
LAND gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 30 industry peers in the Specialized REITs industry. While LAND seems to be doing ok healthwise, there are quite some concerns on its profitability. LAND has a expensive valuation and it also scores bad on growth. Finally LAND also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year LAND has reported negative net income.
In the past year LAND had a positive cash flow from operations.
LAND had negative earnings in each of the past 5 years.
LAND had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of LAND (-0.69%) is worse than 73.33% of its industry peers.
LAND has a worse Return On Equity (-1.28%) than 63.33% of its industry peers.
LAND's Return On Invested Capital of 1.74% is on the low side compared to the rest of the industry. LAND is outperformed by 73.33% of its industry peers.
The Average Return On Invested Capital over the past 3 years for LAND is below the industry average of 5.28%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.69% | ||
| ROE | -1.28% | ||
| ROIC | 1.74% |
ROA(3y)-0.85%
ROA(5y)-0.72%
ROE(3y)-1.65%
ROE(5y)-1.52%
ROIC(3y)1.93%
ROIC(5y)1.95%
1.3 Margins
LAND's Operating Margin of 34.03% is in line compared to the rest of the industry. LAND outperforms 53.33% of its industry peers.
LAND's Operating Margin has declined in the last couple of years.
LAND has a better Gross Margin (83.18%) than 86.67% of its industry peers.
LAND's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 34.03% | ||
| PM (TTM) | N/A | ||
| GM | 83.18% |
OM growth 3Y-4.35%
OM growth 5Y-4.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.65%
GM growth 5Y-0.26%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LAND is destroying value.
The number of shares outstanding for LAND has been increased compared to 1 year ago.
The number of shares outstanding for LAND has been increased compared to 5 years ago.
LAND has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.36, we must say that LAND is in the distress zone and has some risk of bankruptcy.
LAND has a worse Altman-Z score (0.36) than 80.00% of its industry peers.
The Debt to FCF ratio of LAND is 22.28, which is on the high side as it means it would take LAND, 22.28 years of fcf income to pay off all of its debts.
LAND's Debt to FCF ratio of 22.28 is in line compared to the rest of the industry. LAND outperforms 46.67% of its industry peers.
A Debt/Equity ratio of 0.81 indicates that LAND is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.81, LAND is doing good in the industry, outperforming 76.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 22.28 | ||
| Altman-Z | 0.36 |
ROIC/WACC0.25
WACC6.9%
2.3 Liquidity
A Current Ratio of 2.25 indicates that LAND has no problem at all paying its short term obligations.
With an excellent Current ratio value of 2.25, LAND belongs to the best of the industry, outperforming 86.67% of the companies in the same industry.
A Quick Ratio of 2.25 indicates that LAND has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.25, LAND belongs to the top of the industry, outperforming 86.67% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.25 | ||
| Quick Ratio | 2.25 |
3. Growth
3.1 Past
The earnings per share for LAND have decreased strongly by -505.00% in the last year.
LAND shows a decrease in Revenue. In the last year, the revenue decreased by -8.58%.
Measured over the past years, LAND shows a quite strong growth in Revenue. The Revenue has been growing by 15.93% on average per year.
EPS 1Y (TTM)-505%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
Revenue 1Y (TTM)-8.58%
Revenue growth 3Y4.2%
Revenue growth 5Y15.93%
Sales Q2Q%-17.03%
3.2 Future
Based on estimates for the next years, LAND will show a very negative growth in Earnings Per Share. The EPS will decrease by -13.64% on average per year.
The Revenue is expected to grow by 6.70% on average over the next years.
EPS Next Y50.79%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
EPS Next 5YN/A
Revenue Next Year-6.23%
Revenue Next 2Y0.62%
Revenue Next 3Y1.08%
Revenue Next 5Y6.7%
3.3 Evolution
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
The Price/Earnings Ratio is negative for LAND. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for LAND. No positive earnings are expected for the next year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A |
4.2 Price Multiples
LAND's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. LAND is cheaper than 80.00% of the companies in the same industry.
LAND's Price/Free Cash Flow ratio is rather cheap when compared to the industry. LAND is cheaper than 90.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 15.38 | ||
| EV/EBITDA | 14.37 |
4.3 Compensation for Growth
A cheap valuation may be justified as LAND's earnings are expected to decrease with -13.64% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.24%, LAND is a good candidate for dividend investing.
LAND's Dividend Yield is a higher than the industry average which is at 5.77.
LAND's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.24% |
5.2 History
The dividend of LAND is nicely growing with an annual growth rate of 11.11%!
LAND has paid a dividend for at least 10 years, which is a reliable track record.
LAND has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)11.11%
Div Incr Years10
Div Non Decr Years10
5.3 Sustainability
The earnings of LAND are negative and hence is the payout ratio. LAND will probably not be able to sustain this dividend level.
DP-503.5%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
10.66
+0.09 (+0.85%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)
Earnings (Next)
Inst Owners46.06%
Inst Owner Change0%
Ins Owners6.97%
Ins Owner Change0%
Market Cap385.68M
Analysts76.92
Price Target11.65 (9.29%)
Short Float %3.48%
Short Ratio3.68
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.24% |
Yearly Dividend1.23
Dividend Growth(5Y)11.11%
DP-503.5%
Div Incr Years10
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)228.77%
Min EPS beat(2)-22.55%
Max EPS beat(2)480.09%
EPS beat(4)1
Avg EPS beat(4)88.89%
Min EPS beat(4)-51.14%
Max EPS beat(4)480.09%
EPS beat(8)4
Avg EPS beat(8)90.85%
EPS beat(12)4
Avg EPS beat(12)44.73%
EPS beat(16)6
Avg EPS beat(16)26.67%
Revenue beat(2)2
Avg Revenue beat(2)0.58%
Min Revenue beat(2)0.02%
Max Revenue beat(2)1.13%
Revenue beat(4)4
Avg Revenue beat(4)1.83%
Min Revenue beat(4)0.02%
Max Revenue beat(4)3.68%
Revenue beat(8)5
Avg Revenue beat(8)-0.39%
Revenue beat(12)6
Avg Revenue beat(12)-0.35%
Revenue beat(16)8
Avg Revenue beat(16)0.34%
PT rev (1m)-10.46%
PT rev (3m)-10.46%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-29.85%
EPS NY rev (1m)42.11%
EPS NY rev (3m)56.69%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.02%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | N/A | ||
| P/S | 4.72 | ||
| P/FCF | 15.38 | ||
| P/OCF | 12.61 | ||
| P/B | 0.56 | ||
| P/tB | 0.56 | ||
| EV/EBITDA | 14.37 |
EPS(TTM)-0.24
EYN/A
EPS(NY)-0.5
Fwd EYN/A
FCF(TTM)0.69
FCFY6.5%
OCF(TTM)0.85
OCFY7.93%
SpS2.26
BVpS19.07
TBVpS18.96
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.69% | ||
| ROE | -1.28% | ||
| ROCE | 2.2% | ||
| ROIC | 1.74% | ||
| ROICexc | 1.8% | ||
| ROICexgc | 1.93% | ||
| OM | 34.03% | ||
| PM (TTM) | N/A | ||
| GM | 83.18% | ||
| FCFM | 30.67% |
ROA(3y)-0.85%
ROA(5y)-0.72%
ROE(3y)-1.65%
ROE(5y)-1.52%
ROIC(3y)1.93%
ROIC(5y)1.95%
ROICexc(3y)1.98%
ROICexc(5y)1.98%
ROICexgc(3y)2.09%
ROICexgc(5y)2.07%
ROCE(3y)2.44%
ROCE(5y)2.47%
ROICexcg growth 3Y1.97%
ROICexcg growth 5Y1.31%
ROICexc growth 3Y0.88%
ROICexc growth 5Y0.2%
OM growth 3Y-4.35%
OM growth 5Y-4.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.65%
GM growth 5Y-0.26%
F-Score4
Asset Turnover0.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.81 | ||
| Debt/FCF | 22.28 | ||
| Debt/EBITDA | 8.94 | ||
| Cap/Depr | 15.9% | ||
| Cap/Sales | 6.74% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 48.94% | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.25 | ||
| Quick Ratio | 2.25 | ||
| Altman-Z | 0.36 |
F-Score4
WACC6.9%
ROIC/WACC0.25
Cap/Depr(3y)93.88%
Cap/Depr(5y)598.97%
Cap/Sales(3y)37.45%
Cap/Sales(5y)195.81%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-505%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%20%
EPS Next Y50.79%
EPS Next 2Y-32.43%
EPS Next 3Y-13.64%
EPS Next 5YN/A
Revenue 1Y (TTM)-8.58%
Revenue growth 3Y4.2%
Revenue growth 5Y15.93%
Sales Q2Q%-17.03%
Revenue Next Year-6.23%
Revenue Next 2Y0.62%
Revenue Next 3Y1.08%
Revenue Next 5Y6.7%
EBIT growth 1Y-16.76%
EBIT growth 3Y-0.33%
EBIT growth 5Y10.2%
EBIT Next Year119.46%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y161.8%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-25.29%
OCF growth 3Y-3%
OCF growth 5Y6.7%