Farmland Partners Inc Financials
This page shows Farmland Partners Inc (FPI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Farmland Partners’ recent results are being driven more by asset monetization and debt reduction than by underlying revenue growth.
Between FY2023 and FY2025, total assets fell from$1.0B to$719M , which suggests the company has been shrinking the portfolio to simplify the balance sheet rather than using a larger asset base to lift revenue. At the same time, net income stayed above operating cash flow in each of those years, so reported profit appears to include meaningful non-cash or transaction-driven gains alongside recurring cash generation.
Debt-to-equity fell from 0.7x in FY2023 to 0.3x in FY2025, showing a more conservative balance-sheet posture. With interest expense down to
In FY2025, dividends paid reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Farmland Partners Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Farmland Partners Inc's revenue declined 10.4% year-over-year, from $58.2M to $52.2M. This contraction results in a growth score of 25/100.
Farmland Partners Inc carries a low D/E ratio of 0.35, meaning only $0.35 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Farmland Partners Inc generates a 6.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 12.1% the prior year.
Farmland Partners Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Farmland Partners Inc generates $0.55 in operating cash flow ($17.4M OCF vs $31.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Farmland Partners Inc generated $52.2M in revenue in fiscal year 2025. This represents a decrease of 10.4% from the prior year.
Farmland Partners Inc reported $31.5M in net income in fiscal year 2025. This represents a decrease of 47.3% from the prior year.
Farmland Partners Inc earned $0.61 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 42.5% from the prior year.
Cash & Balance Sheet
Farmland Partners Inc held $9.3M in cash against $161.6M in long-term debt as of fiscal year 2025.
Farmland Partners Inc paid $0.44 per share in dividends in fiscal year 2025. This represents a decrease of 68.3% from the prior year.
Farmland Partners Inc had 44M shares outstanding in fiscal year 2025. This represents a decrease of 5.1% from the prior year.
Margins & Returns
Farmland Partners Inc's net profit margin was 60.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 42.4 percentage points from the prior year.
Farmland Partners Inc's ROE was 6.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.4 percentage points from the prior year.
Capital Allocation
Farmland Partners Inc spent $37.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 37.4% from the prior year.
FPI Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.1M-51.2% | $20.7M+84.1% | $11.3M+13.0% | $10.0M-2.8% | $10.3M-52.3% | $21.5M+61.3% | $13.3M+16.4% | $11.4M |
| 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 | $1.9M-57.3% | $4.5M+101.1% | $2.2M-7.0% | $2.4M-5.4% | $2.6M | N/A | $2.6M-29.5% | $3.7M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $2.7M+19.3% | $2.3M+0.4% | $2.3M-6.8% | $2.4M-7.6% | $2.6M | N/A | $5.5M+4.7% | $5.2M |
| Income Tax | $7K+143.8% | -$16K-100.0% | -$8K0.0% | -$8K-147.1% | $17K+137.8% | -$45K-509.1% | $11K+1200.0% | -$1K |
| Net Income | $640K-97.0% | $21.4M+4335.0% | $483K-93.6% | $7.6M+272.8% | $2.0M-96.6% | $60.3M+3260.6% | $1.8M+189.6% | -$2.0M |
| EPS (Diluted) | $0.01 | N/A | $0.00-100.0% | $0.14+366.7% | $0.03-97.1% | $1.04+5100.0% | $0.02+133.3% | $-0.06 |
FPI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $711.7M-1.0% | $719.1M-2.6% | $738.5M-4.9% | $776.7M-4.2% | $810.5M-6.8% | $869.6M-15.3% | $1.0B-0.1% | $1.0B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $17.7M+90.9% | $9.3M-31.0% | $13.5M-73.6% | $51.1M+135.9% | $21.6M-72.4% | $78.4M+869.6% | $8.1M+40.8% | $5.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2.3M-47.8% | $4.4M-23.6% | $5.8M+1127.0% | $470K-83.0% | $2.8M-35.7% | $4.3M-52.5% | $9.0M+700.8% | $1.1M |
| Goodwill | N/A | N/A | $2.7M0.0% | $2.7M0.0% | $2.7M0.0% | $2.7M0.0% | $2.7M0.0% | $2.7M |
| Total Liabilities | $248.2M+37.1% | $181.1M+0.5% | $180.2M-11.1% | $202.7M-7.3% | $218.5M-20.0% | $273.1M-32.8% | $406.5M0.0% | $406.5M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $232.8M+44.1% | $161.6M-5.2% | $170.4M-11.9% | $193.4M-4.5% | $202.6M-1.0% | $204.6M-48.1% | $394.0M+0.3% | $393.0M |
| Total Equity | $463.5M-0.8% | $467.4M+2.2% | $457.3M-3.4% | $473.5M-3.8% | $492.2M-0.5% | $494.6M-4.8% | $519.4M-0.4% | $521.5M |
| Retained Earnings | $117.8M+0.4% | $117.3M+21.7% | $96.4M-0.1% | $96.5M+7.7% | $89.6M+1.5% | $88.4M+191.1% | $30.3M+3.6% | $29.3M |
FPI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.2M-45.7% | $15.2M+877.9% | -$2.0M+10.6% | -$2.2M-134.3% | $6.4M-56.4% | $14.6M+441.4% | -$4.3M+29.7% | -$6.1M |
| 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 | $12.0M+262.5% | -$7.4M-311.3% | $3.5M-94.8% | $67.2M+67771.7% | $99K-100.0% | $275.8M+3071.6% | $8.7M+796.8% | -$1.2M |
| Financing Cash Flow | -$11.8M+1.3% | -$12.0M+69.4% | -$39.2M-10.0% | -$35.6M+43.7% | -$63.3M+71.3% | -$220.1M-10520.9% | -$2.1M-130.2% | $6.9M |
| Dividends Paid | $11.2M+333.3% | $2.6M-19.8% | $3.2M-6.5% | $3.4M-93.8% | $55.7M+1828.8% | $2.9M-22.0% | $3.7M0.0% | $3.7M |
| Share Buybacks | $741K | $0-100.0% | $13.6M-42.3% | $23.5M+3074.4% | $741K | N/A | N/A | N/A |
FPI Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | 6.3%-97.1pp | 103.4%+99.1pp | 4.3%-72.0pp | 76.3%+56.4pp | 19.9%-260.7pp | 280.6%+267.1pp | 13.5%+30.9pp | -17.5% |
| Return on Equity | 0.1%-4.4pp | 4.6%+4.5pp | 0.1%-1.5pp | 1.6%+1.2pp | 0.4%-11.8pp | 12.2%+11.8pp | 0.4%+0.7pp | -0.4% |
| Return on Assets | 0.1%-2.9pp | 3.0%+2.9pp | 0.1%-0.9pp | 1.0%+0.7pp | 0.3%-6.7pp | 6.9%+6.8pp | 0.2%+0.4pp | -0.2% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.50+0.2 | 0.35-0.0 | 0.37-0.0 | 0.410.0 | 0.410.0 | 0.41-0.3 | 0.760.0 | 0.75 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Farmland Partners Inc's annual revenue?
Farmland Partners Inc (FPI) reported $52.2M in total revenue for fiscal year 2025. This represents a -10.4% 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 declined by 10.4% year-over-year, from $58.2M to $52.2M in fiscal year 2025.
Is Farmland Partners Inc profitable?
Yes, Farmland Partners Inc (FPI) reported a net income of $31.5M in fiscal year 2025, with a net profit margin of 60.5%.
How much debt does Farmland Partners Inc have?
As of fiscal year 2025, Farmland Partners Inc (FPI) had $9.3M in cash and equivalents against $161.6M in long-term debt.
What is Farmland Partners Inc's net profit margin?
Farmland Partners Inc (FPI) had a net profit margin of 60.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Farmland Partners Inc pay dividends?
Yes, Farmland Partners Inc (FPI) paid $0.44 per share in dividends during fiscal year 2025.
What is Farmland Partners Inc's return on equity (ROE)?
Farmland Partners Inc (FPI) has a return on equity of 6.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Farmland Partners Inc's operating cash flow?
Farmland Partners Inc (FPI) generated $17.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Farmland Partners Inc's total assets?
Farmland Partners Inc (FPI) had $719.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Farmland Partners Inc's debt-to-equity ratio?
Farmland Partners Inc (FPI) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, 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 4.4% for fiscal year 2025, 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 5 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Farmland Partners Inc's earnings high quality?
Farmland Partners Inc (FPI) has an earnings quality ratio of 0.55x, considered mixed quality. 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. Learn more in our complete guide to financial health indicators.
How financially healthy is Farmland Partners Inc?
Farmland Partners Inc (FPI) scores 25 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.