Farmland Partners Inc Financials

FPI

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Farmland Partners Inc (FPI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$58.2M

YoY+1.3%

5Y CAGR+1.7%

Farmland Partners Inc generated $58.2M in revenue in fiscal year 2024. This represents an increase of 1.3% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$59.9M

YoY+93.8%

5Y CAGR+34.0%

Farmland Partners Inc reported $59.9M in net income in fiscal year 2024. This represents an increase of 93.8% from the prior year.

EPS (Diluted)

$1.06

YoY+100.0%

5Y CAGR+92.6%

Farmland Partners Inc earned $1.06 per diluted share (EPS) in fiscal year 2024. This represents an increase of 100.0% from the prior year.

Cash & Debt

N/A

Dividends Per Share

$1.39

YoY+208.9%

5Y CAGR+47.4%

10Y CAGR+15.6%

Farmland Partners Inc paid $1.39 per share in dividends in fiscal year 2024. This represents an increase of 208.9% from the prior year.

Shares Outstanding

46M

YoY-4.3%

5Y CAGR+8.9%

10Y CAGR+19.5%

Farmland Partners Inc had 46M shares outstanding in fiscal year 2024. This represents a decrease of 4.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

102.9%

YoY+49.1pp

5Y CAGR+77.0pp

Farmland Partners Inc's net profit margin was 102.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 49.1 percentage points from the prior year.

Return on Equity

12.1%

YoY+6.3pp

5Y CAGR+7.7pp

Farmland Partners Inc's ROE was 12.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 6.3 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$27.5M

YoY-61.8%

5Y CAGR+4.6%

10Y CAGR+178.0%

Farmland Partners Inc spent $27.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 61.8% from the prior year.

Capital Expenditures

N/A

FPI Income Statement

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Revenue	$58.2M+1.3%	$57.5M-6.1%	$61.2M+18.3%	$51.7M+2.1%	$50.7M-5.4%	$53.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14.1M+24.8%	$11.3M-6.1%	$12.0M+46.3%	$8.2M+39.2%	$5.9M-3.4%	$6.1M
Operating Income	N/A	N/A	$25.0M+48.5%	$16.8M-24.7%	$22.3M-15.2%	$26.3M
Interest Expense	$18.9M-16.8%	$22.7M+40.4%	$16.1M+1.3%	$15.9M-9.9%	$17.7M-9.8%	$19.6M
Income Tax	-$16K+90.4%	-$166K-173.1%	$227K	$0	$0	$0
Net Income	$59.9M+93.8%	$30.9M+164.8%	$11.7M+16.8%	$10.0M+40.3%	$7.1M-48.7%	$13.9M
EPS (Diluted)	$1.06+100.0%	$0.53+231.3%	$0.16+194.1%	$-0.17+5.6%	$-0.18-550.0%	$0.04

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$11.3M+13.0%	$10.0M-2.8%	$10.3M-52.3%	$21.5M+61.3%	$13.3M+16.4%	$11.4M-4.5%	$12.0M-44.5%	$21.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.2M-7.0%	$2.4M-7.9%	$2.6M-48.3%	$5.1M+92.6%	$2.6M-29.5%	$3.7M+42.3%	$2.6M-15.6%	$3.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$2.3M-6.8%	$2.4M-7.6%	$2.6M-14.2%	$3.1M-44.1%	$5.5M+4.7%	$5.2M+4.2%	$5.0M-11.0%	$5.7M
Income Tax	-$8K0.0%	-$8K-147.1%	$17K+137.8%	-$45K-509.1%	$11K+1200.0%	-$1K-105.3%	$19K+58.3%	$12K
Net Income	$483K-93.6%	$7.6M+272.8%	$2.0M-96.6%	$60.3M+3260.6%	$1.8M+189.6%	-$2.0M-245.8%	$1.4M-92.3%	$17.8M
EPS (Diluted)	$0.00-100.0%	$0.14+366.7%	$0.03-97.1%	$1.04+5100.0%	$0.02+133.3%	$-0.06-700.0%	$0.01-96.7%	$0.30

FPI Balance Sheet

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Total Assets	$868.6M-15.0%	$1.0B-11.9%	$1.2B+3.4%	$1.1B+2.8%	$1.1B-1.0%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	$7.7M-74.6%	$30.2M+10.9%	$27.2M+116.7%	$12.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$3.2M-58.7%	$7.7M+9.8%	$7.1M+44.0%	$4.9M+18.9%	$4.1M-25.3%	$5.5M
Goodwill	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M	N/A	N/A
Total Liabilities	$272.0M-30.5%	$391.2M-14.2%	$455.9M-13.8%	$528.9M-32.6%	$785.1M-0.5%	$789.0M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$204.6M-43.7%	$363.1M-17.4%	$439.5M-14.4%	$513.4M+1.0%	$508.2M-0.9%	$512.9M
Total Equity	$494.6M-6.5%	$528.8M-11.0%	$594.0M+25.8%	$472.1M+54.3%	$305.9M-2.4%	$313.5M
Retained Earnings	$88.4M+181.3%	$31.4M+780.6%	$3.6M+175.3%	-$4.7M-557.0%	$1.0M-83.4%	$6.3M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$738.5M-4.9%	$776.7M-4.2%	$810.5M-6.7%	$868.6M-15.4%	$1.0B-0.1%	$1.0B-0.3%	$1.0B+0.9%	$1.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$5.8M+1127.0%	$470K-83.0%	$2.8M-13.8%	$3.2M-64.6%	$9.0M+700.8%	$1.1M-35.2%	$1.7M-77.5%	$7.7M
Goodwill	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M0.0%	$2.7M
Total Liabilities	$180.2M-11.1%	$202.7M-7.3%	$218.5M-19.7%	$272.0M-33.1%	$406.5M0.0%	$406.5M+0.5%	$404.7M+3.4%	$391.2M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$170.4M-11.9%	$193.4M-4.5%	$202.6M-1.0%	$204.6M-48.1%	$394.0M+0.3%	$393.0M+2.6%	$383.0M+5.5%	$363.1M
Total Equity	$457.3M-3.4%	$473.5M-3.8%	$492.2M-0.5%	$494.6M-4.8%	$519.4M-0.4%	$521.5M-1.0%	$526.7M-0.4%	$528.8M
Retained Earnings	$96.4M-0.1%	$96.5M+7.7%	$89.6M+1.5%	$88.4M+191.1%	$30.3M+3.6%	$29.3M-8.6%	$32.0M+2.0%	$31.4M

FPI Cash Flow Statement

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$16.1M+25.3%	$12.9M-24.4%	$17.1M+117.0%	$7.9M-60.2%	$19.7M+9.6%	$18.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$268.8M+69.6%	$158.5M+362.4%	-$60.4M-221.8%	-$18.8M-200.5%	$18.7M-39.9%	$31.1M
Financing Cash Flow	-$211.9M-22.1%	-$173.5M-933.0%	$20.8M+50.2%	$13.9M+158.4%	-$23.7M+55.5%	-$53.4M
Dividends Paid	$21.6M+76.2%	$12.3M+10.3%	$11.1M+74.9%	$6.4M+7.0%	$5.9M-3.8%	$6.2M
Share Buybacks	$27.5M-61.8%	$72.2M	N/A	N/A	$6.8M-69.0%	$22.0M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	$6.4M	N/A	N/A	N/A	$11.9M	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	$99K	N/A	N/A	N/A	-$14.5M	N/A
Financing Cash Flow	N/A	N/A	-$63.3M	N/A	N/A	N/A	$3.3M	N/A
Dividends Paid	$3.2M-6.5%	$3.4M-3.6%	$3.6M-66.0%	$10.5M+183.5%	$3.7M0.0%	$3.7M+0.1%	$3.7M+422.0%	$710K
Share Buybacks	N/A	N/A	$741K	N/A	N/A	N/A	N/A	N/A

FPI Financial Ratios

Metric	FY24	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	40.8%+8.3pp	32.5%-11.5pp	44.0%-5.1pp	49.2%
Net Margin	102.9%+49.1pp	53.8%+34.7pp	19.1%-0.2pp	19.3%+5.3pp	14.0%-11.9pp	25.9%
Return on Equity	12.1%+6.3pp	5.9%+3.9pp	2.0%-0.2pp	2.1%-0.2pp	2.3%-2.1pp	4.4%
Return on Assets	6.9%+3.9pp	3.0%+2.0pp	1.0%+0.1pp	0.9%+0.2pp	0.7%-0.6pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.41-0.3	0.69-0.1	0.74-0.3	1.09-0.6	1.66+0.0	1.64
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	4.3%-72.0pp	76.3%+56.4pp	19.9%-260.7pp	280.6%+267.1pp	13.5%+30.9pp	-17.5%-28.9pp	11.5%-70.8pp	82.2%
Return on Equity	0.1%-1.5pp	1.6%+1.2pp	0.4%-11.8pp	12.2%+11.8pp	0.4%	N/A	0.3%-3.1pp	3.4%
Return on Assets	0.1%-0.9pp	1.0%+0.7pp	0.3%-6.7pp	6.9%+6.8pp	0.2%+0.4pp	-0.2%-0.3pp	0.1%-1.6pp	1.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.37-0.0	0.410.0	0.410.0	0.41-0.3	0.760.0	0.75+0.0	0.73+0.0	0.69
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Financial Health Signals

Piotroski F-Score Neutral

6/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Low Quality

0.27x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

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Frequently Asked Questions

What is Farmland Partners Inc's annual revenue?

Farmland Partners Inc (FPI) reported $58.2M in total revenue for fiscal year 2024. This represents a 1.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Farmland Partners Inc's revenue growing?

Farmland Partners Inc (FPI) revenue grew by 1.3% year-over-year, from $57.5M to $58.2M in fiscal year 2024.

Is Farmland Partners Inc profitable?

Yes, Farmland Partners Inc (FPI) reported a net income of $59.9M in fiscal year 2024, with a net profit margin of 102.9%.

What is Farmland Partners Inc's earnings per share (EPS)?

Farmland Partners Inc (FPI) reported diluted earnings per share of $1.06 for fiscal year 2024. This represents a 100.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Farmland Partners Inc's net profit margin?

Farmland Partners Inc (FPI) had a net profit margin of 102.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Farmland Partners Inc pay dividends?

Yes, Farmland Partners Inc (FPI) paid $1.39 per share in dividends during fiscal year 2024.

What is Farmland Partners Inc's return on equity (ROE)?

Farmland Partners Inc (FPI) has a return on equity of 12.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Farmland Partners Inc's operating cash flow?

Farmland Partners Inc (FPI) generated $16.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Farmland Partners Inc's total assets?

Farmland Partners Inc (FPI) had $868.6M in total assets as of fiscal year 2024, including both current and long-term assets.

Does Farmland Partners Inc buy back shares?

Yes, Farmland Partners Inc (FPI) spent $27.5M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Farmland Partners Inc have outstanding?

Farmland Partners Inc (FPI) had 46M shares outstanding as of fiscal year 2024.

What is Farmland Partners Inc's debt-to-equity ratio?

Farmland Partners Inc (FPI) had a debt-to-equity ratio of 0.41 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Farmland Partners Inc's return on assets (ROA)?

Farmland Partners Inc (FPI) had a return on assets of 6.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Farmland Partners Inc's Piotroski F-Score?

Farmland Partners Inc (FPI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Farmland Partners Inc's earnings high quality?

Farmland Partners Inc (FPI) has an earnings quality ratio of 0.27x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.