FPI · Farmland Partners Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $52.18M | $58.23M | $57.47M | $61.21M | $51.74M | $50.69M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $11.72M | $14.07M | $11.27M | $12.01M | $8.21M | $5.90M |
| Total Operating Expenses | $46.95M | $33.54M | $39.47M | $36.24M | $34.93M | $28.36M |
| D&A | $4.17M | $5.59M | $7.50M | $6.96M | $7.63M | $7.97M |
| Operating Income | $32.16M | $61.43M | $31.52M | $24.97M | $16.81M | $22.33M |
| Interest Expense | $9.63M | $18.85M | $22.66M | $16.14M | $15.93M | $17.68M |
| Income Tax | ($15.0K) | ($16.0K) | ($166.0K) | $227.0K | $0 | $0 |
| Net Income | $31.55M | $59.91M | $30.91M | $11.67M | $9.99M | $7.12M |
| EPS - Basic | $0.65 | $1.19 | $0.55 | $0.16 | ($0.17) | ($0.18) |
| EPS - Diluted | $0.61 | $1.06 | $0.53 | $0.16 | ($0.17) | ($0.18) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.29M | $78.44M | $5.49M | $30.17M | $30.17M | $16.89M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $719.07M | $868.56M | $1.02B | $1.16B | $1.12B | $1.09B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $161.59M | $204.57M | $363.10M | $439.49M | $513.43M | $508.19M |
| Total Liabilities | $181.09M | $272.00M | $391.19M | $455.94M | $528.94M | $524.80M |
| Stockholders' Equity | $467.39M | $494.59M | $528.84M | $594.00M | $472.08M | $305.91M |
| Retained Earnings | $117.31M | $88.35M | $31.41M | $3.57M | ($4.74M) | $1.04M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.43M | $16.14M | $12.89M | $17.05M | $7.86M | $19.73M |
| Investing Cash Flow | $63.40M | $268.75M | $158.46M | ($60.40M) | ($18.77M) | $18.67M |
| Financing Cash Flow | ($149.97M) | ($211.94M) | ($173.51M) | $20.83M | $13.87M | ($23.74M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 61.6% | 105.5% | 54.8% | 40.8% | 32.5% | 44.1% |
| EBITDA margin | 69.6% | 115.1% | 67.9% | 52.2% | 47.2% | 59.8% |
| Net margin | 60.5% | 102.9% | 53.8% | 19.1% | 19.3% | 14.0% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 22.5% | 24.2% | 19.6% | 19.6% | 15.9% | 11.6% |
| Effective tax rate | -0.0% | -0.0% | -0.5% | 1.9% | 0.0% | 0.0% |
| Return on assets | 4.4% | 6.9% | 3.0% | 1.0% | 0.9% | 0.7% |
| Return on equity | 6.7% | 12.1% | 5.8% | 2.0% | 2.1% | 2.3% |
| Return on invested capital | 5.1% | 8.8% | 3.5% | 2.4% | 1.7% | 2.7% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.35 | 0.41 | 0.69 | 0.74 | 1.09 | 1.66 |
| Debt / Assets | 0.22 | 0.24 | 0.36 | 0.38 | 0.46 | 0.47 |
| Debt / EBITDA | 4.45 | 3.05 | 9.31 | 13.76 | 21.01 | 16.77 |
| Interest coverage | 3.3x | 3.3x | 1.4x | 1.5x | 1.1x | 1.3x |
| Equity multiplier | 1.54 | 1.76 | 1.93 | 1.95 | 2.38 | 3.57 |
| Liabilities / Assets | 0.25 | 0.31 | 0.38 | 0.39 | 0.47 | 0.48 |
| Efficiency | ||||||
| Asset turnover | 0.07 | 0.07 | 0.06 | 0.05 | 0.05 | 0.05 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 15.9x | 11.1x | 23.5x | 77.9x | - | - |
| P / B | 1.1x | 1.3x | 1.4x | 1.1x | 0.9x | 0.8x |
| P / S | 9.5x | 11.3x | 12.7x | 10.4x | 8.0x | 5.0x |
| EV / EBITDA | 17.9x | 11.7x | 27.8x | 32.7x | 36.7x | 24.6x |
| Growth | ||||||
| Revenue growth (YoY) | -10.4% | 1.3% | -6.1% | 18.3% | 2.1% | -5.4% |
| Revenue CAGR (3y) | -5.2% | 4.0% | 4.3% | 4.5% | 18.6% | - |
| Revenue CAGR (5y) | 0.6% | 1.7% | 13.1% | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -47.7% | 94.9% | 26.2% | 48.5% | -24.7% | -15.2% |
| Net income growth (YoY) | -47.3% | 93.8% | 164.8% | 16.8% | 40.3% | -48.7% |
| EPS growth (YoY) | -42.5% | 100.0% | 231.3% | - | 5.6% | - |
| EPS CAGR (3y) | 56.2% | - | - | 58.7% | - | - |
| EPS CAGR (5y) | - | 92.6% | - | 39.8% | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -5.5% | -6.5% | -11.0% | 25.8% | 54.3% | -2.4% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✗Cash flow > net income
- ✓Long-term debt decreased
- -Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing Farmland Partners Inc. against the 5 most active filers in the same SIC group.
Dividends
$0.47/share trailing 12 months · -66.2% YoY
| Ex-date | Per share |
|---|---|
| Apr 1, 2026 | $0.0900 |
| Jan 2, 2026 | $0.0600 |
| Dec 23, 2025 | $0.2000 |
| Oct 1, 2025 | $0.0600 |
| Jul 1, 2025 | $0.0600 |
| Apr 1, 2025 | $0.0600 |
| Jan 2, 2025 | $0.0600 |
| Dec 23, 2024 | $1.1500 |
| Oct 1, 2024 | $0.0600 |
| Jul 1, 2024 | $0.0600 |
| Mar 28, 2024 | $0.0600 |
| Dec 29, 2023 | $0.0600 |
| Dec 28, 2023 | $0.2100 |
| Sep 29, 2023 | $0.0600 |
| Jun 30, 2023 | $0.0600 |
| Mar 31, 2023 | $0.0600 |
| Dec 29, 2022 | $0.0600 |
| Sep 29, 2022 | $0.0600 |
| Jun 30, 2022 | $0.0600 |
| Mar 31, 2022 | $0.0500 |
| Dec 31, 2021 | $0.0500 |
| Sep 30, 2021 | $0.0500 |
| Jun 30, 2021 | $0.0500 |
| Mar 31, 2021 | $0.0500 |