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GLADSTONE LAND CORP - LAND 6 PERP (LANDP) Stock Fundamental Analysis

NASDAQ:LANDP - Nasdaq - US3765494089 - Currency: USD

20.15  -0.04 (-0.2%)

Fundamental Rating

2

LANDP gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 29 industry peers in the Specialized REITs industry. LANDP may be in some trouble as it scores bad on both profitability and health. LANDP is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year LANDP has reported negative net income.
LANDP had a positive operating cash flow in the past year.
LANDP had negative earnings in each of the past 5 years.
LANDP had a positive operating cash flow in 4 of the past 5 years.
LANDP Yearly Net Income VS EBIT VS OCF VS FCFLANDP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100M -200M

1.2 Ratios

With a Return On Assets value of -0.70%, LANDP is not doing good in the industry: 89.29% of the companies in the same industry are doing better.
LANDP's Return On Equity of -1.34% is on the low side compared to the rest of the industry. LANDP is outperformed by 78.57% of its industry peers.
LANDP's Return On Invested Capital of 2.01% is on the low side compared to the rest of the industry. LANDP is outperformed by 82.14% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for LANDP is below the industry average of 5.41%.
The last Return On Invested Capital (2.01%) for LANDP is above the 3 year average (1.92%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -0.7%
ROE -1.34%
ROIC 2.01%
ROA(3y)-0.8%
ROA(5y)-0.62%
ROE(3y)-1.64%
ROE(5y)-1.39%
ROIC(3y)1.92%
ROIC(5y)1.94%
LANDP Yearly ROA, ROE, ROICLANDP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1 -1 2 -2

1.3 Margins

The Operating Margin of LANDP (37.19%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of LANDP has grown nicely.
LANDP has a better Gross Margin (85.00%) than 78.57% of its industry peers.
In the last couple of years the Gross Margin of LANDP has remained more or less at the same level.
Industry RankSector Rank
OM 37.19%
PM (TTM) N/A
GM 85%
OM growth 3Y-8.45%
OM growth 5Y2.42%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.28%
GM growth 5Y-0.17%
LANDP Yearly Profit, Operating, Gross MarginsLANDP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60 80

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LANDP is destroying value.
There is no outstanding debt for LANDP. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
LANDP Yearly Shares OutstandingLANDP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
LANDP Yearly Total Debt VS Total AssetsLANDP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B

2.2 Solvency

LANDP has an Altman-Z score of 0.67. This is a bad value and indicates that LANDP is not financially healthy and even has some risk of bankruptcy.
LANDP's Altman-Z score of 0.67 is in line compared to the rest of the industry. LANDP outperforms 42.86% of its industry peers.
LANDP has a debt to FCF ratio of 20.64. This is a negative value and a sign of low solvency as LANDP would need 20.64 years to pay back of all of its debts.
LANDP has a worse Debt to FCF ratio (20.64) than 64.29% of its industry peers.
LANDP has a Debt/Equity ratio of 0.85. This is a neutral value indicating LANDP is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.85, LANDP is in the better half of the industry, outperforming 60.71% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.85
Debt/FCF 20.64
Altman-Z 0.67
ROIC/WACC0.27
WACC7.37%
LANDP Yearly LT Debt VS Equity VS FCFLANDP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M 600M

2.3 Liquidity

LANDP has a Current Ratio of 0.61. This is a bad value and indicates that LANDP is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.61, LANDP is in line with its industry, outperforming 46.43% of the companies in the same industry.
A Quick Ratio of 0.61 indicates that LANDP may have some problems paying its short term obligations.
LANDP has a Quick ratio of 0.61. This is comparable to the rest of the industry: LANDP outperforms 46.43% of its industry peers.
Industry RankSector Rank
Current Ratio 0.61
Quick Ratio 0.61
LANDP Yearly Current Assets VS Current LiabilitesLANDP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

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1

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 83.33% over the past year.
EPS 1Y (TTM)83.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%175%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.71%

3.2 Future

Based on estimates for the next years, LANDP will show a very negative growth in Earnings Per Share. The EPS will decrease by -90.44% on average per year.
LANDP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.70% yearly.
EPS Next Y-863.33%
EPS Next 2Y-90.44%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.23%
Revenue Next 2Y6.11%
Revenue Next 3Y8.51%
Revenue Next 5Y6.7%

3.3 Evolution

LANDP Yearly Revenue VS EstimatesLANDP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20M 40M 60M 80M 100M
LANDP Yearly EPS VS EstimatesLANDP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.2 -0.2 -0.4

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1

4. Valuation

4.1 Price/Earnings Ratio

LANDP reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for LANDP. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
LANDP Price Earnings VS Forward Price EarningsLANDP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200 -300 -400

4.2 Price Multiples

60.71% of the companies in the same industry are cheaper than LANDP, based on the Enterprise Value to EBITDA ratio.
The rest of the industry has a similar Price/Free Cash Flow ratio as LANDP.
Industry RankSector Rank
P/FCF 25.49
EV/EBITDA 18.93
LANDP Per share dataLANDP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

LANDP's earnings are expected to decrease with -90.44% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-90.44%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

LANDP has a Yearly Dividend Yield of 4.80%, which is a nice return.
LANDP's Dividend Yield is a higher than the industry average which is at 4.52.
LANDP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 4.8%

5.2 History

On average, the dividend of LANDP grows each year by 18.43%, which is quite nice.
LANDP has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)18.43%
Div Incr Years1
Div Non Decr Years1
LANDP Yearly Dividends per shareLANDP Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

The earnings of LANDP are negative and hence is the payout ratio. LANDP will probably not be able to sustain this dividend level.
DP-477.84%
EPS Next 2Y-90.44%
EPS Next 3YN/A
LANDP Yearly Income VS Free CF VS DividendLANDP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100M -200M

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GLADSTONE LAND CORP - LAND 6 PERP

NASDAQ:LANDP (2/21/2025, 8:00:02 PM)

20.15

-0.04 (-0.2%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustrySpecialized REITs
Earnings (Last)02-19 2025-02-19/amc
Earnings (Next)05-05 2025-05-05/amc
Inst Owners48.43%
Inst Owner ChangeN/A
Ins Owners6.99%
Ins Owner ChangeN/A
Market Cap729.03M
Analysts76.92
Price Target29.94 (48.59%)
Short Float %0.01%
Short Ratio0.14
Dividend
Industry RankSector Rank
Dividend Yield 4.8%
Yearly Dividend1.27
Dividend Growth(5Y)18.43%
DP-477.84%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-19 2025-03-19 (0.125)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-50.99%
Min EPS beat(2)-51.14%
Max EPS beat(2)-50.83%
EPS beat(4)1
Avg EPS beat(4)29.07%
Min EPS beat(4)-81%
Max EPS beat(4)299.25%
EPS beat(8)3
Avg EPS beat(8)16.32%
EPS beat(12)4
Avg EPS beat(12)1.58%
EPS beat(16)5
Avg EPS beat(16)-25.49%
Revenue beat(2)2
Avg Revenue beat(2)3.08%
Min Revenue beat(2)2.47%
Max Revenue beat(2)3.68%
Revenue beat(4)2
Avg Revenue beat(4)-1.46%
Min Revenue beat(4)-10.99%
Max Revenue beat(4)3.68%
Revenue beat(8)3
Avg Revenue beat(8)-1.25%
Revenue beat(12)5
Avg Revenue beat(12)-0.12%
Revenue beat(16)8
Avg Revenue beat(16)0.44%
PT rev (1m)-0.82%
PT rev (3m)20.92%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-15.38%
EPS NY rev (1m)0%
EPS NY rev (3m)-39.63%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.57%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 8.23
P/FCF 25.49
P/OCF 20.6
P/B 1.05
P/tB 1.06
EV/EBITDA 18.93
EPS(TTM)-0.05
EYN/A
EPS(NY)-0.43
Fwd EYN/A
FCF(TTM)0.79
FCFY3.92%
OCF(TTM)0.98
OCFY4.85%
SpS2.45
BVpS19.1
TBVpS18.98
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.7%
ROE -1.34%
ROCE 2.54%
ROIC 2.01%
ROICexc 2.03%
ROICexgc 2.17%
OM 37.19%
PM (TTM) N/A
GM 85%
FCFM 32.29%
ROA(3y)-0.8%
ROA(5y)-0.62%
ROE(3y)-1.64%
ROE(5y)-1.39%
ROIC(3y)1.92%
ROIC(5y)1.94%
ROICexc(3y)1.96%
ROICexc(5y)1.98%
ROICexgc(3y)2.05%
ROICexgc(5y)2.04%
ROCE(3y)2.43%
ROCE(5y)2.46%
ROICexcg growth 3Y-0.7%
ROICexcg growth 5Y2.68%
ROICexc growth 3Y-2.04%
ROICexc growth 5Y2.08%
OM growth 3Y-8.45%
OM growth 5Y2.42%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.28%
GM growth 5Y-0.17%
F-Score6
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.85
Debt/FCF 20.64
Debt/EBITDA 8.55
Cap/Depr 18.76%
Cap/Sales 7.66%
Interest Coverage 250
Cash Conversion 51.21%
Profit Quality N/A
Current Ratio 0.61
Quick Ratio 0.61
Altman-Z 0.67
F-Score6
WACC7.37%
ROIC/WACC0.27
Cap/Depr(3y)448.21%
Cap/Depr(5y)1006.17%
Cap/Sales(3y)165.07%
Cap/Sales(5y)323.52%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)83.33%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%175%
EPS Next Y-863.33%
EPS Next 2Y-90.44%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-13.71%
Revenue Next Year4.23%
Revenue Next 2Y6.11%
Revenue Next 3Y8.51%
Revenue Next 5Y6.7%
EBIT growth 1Y-4.91%
EBIT growth 3Y6.75%
EBIT growth 5Y22.67%
EBIT Next Year97.12%
EBIT Next 3Y32.6%
EBIT Next 5YN/A
FCF growth 1Y115.43%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y0.85%
OCF growth 3Y17.04%
OCF growth 5Y30.95%