Gladstone Land (LAND) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LAND SEC filings page.
Gladstone Land (LAND) reported $88.5M in revenue over the twelve months to Jun 30, 2026, up 21.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Debt reduction is improving solvency metrics, but weakening cash conversion is becoming the more important operating constraint.
Net income stayed nearly unchanged at$13.3M in FY2024 and$13.5M in FY2025, but that stability did not carry through to cash generation. Operating cash flow fell to$7.0M from$29.5M while liabilities declined, making earnings quality the key tension despite lower financial leverage.
By FY2025, debt-to-equity had fallen to 0.7x from 1.1x in FY2021, indicating less debt relative to equity. Yet total assets also contracted from
Revenue rebounded from
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Gladstone Land'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.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Gladstone Land scores 85/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Gladstone Land scores 28/100 on it among other REITs.
Not available for Gladstone Land, and counted as zero in the overall score.
Not available for Gladstone Land, and counted as zero in the overall score.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Gladstone Land scores 85/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Gladstone Land scores 83/100 on it among other REITs.
Gladstone Land passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Gladstone Land generates $0.52 in operating cash flow ($7.0M OCF vs $13.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Gladstone Land generated $12.7M in revenue in Q2 2026. This represents an increase of 3.2% from the same quarter a year earlier. Against the prior quarter it is down 23.3%.
Gladstone Land reported -$8.5M in net income in Q2 2026. This represents a decrease of 7.4% from the same quarter a year earlier. Against the prior quarter it is down 96.5%.
Gladstone Land earned -$0.32 per diluted share (EPS) in Q2 2026. This represents an increase of 15.8% from the same quarter a year earlier. Against the prior quarter it is down 33.3%.
Not reported for Q2 2026.
Cash & Balance Sheet
Gladstone Land held $22.6M in cash against $486.0M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Gladstone Land's net profit margin was -66.7% in Q2 2026, showing the share of revenue converted to profit. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 40.6 percentage points.
Gladstone Land's ROE was -1.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
LAND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.7M+3.2% | $16.6M-1.5% | $41.5M+96.5% | $17.8M-21.2% | $12.3M-42.3% | $16.8M-17.0% | $21.1M-13.7% | $22.6M-4.1% |
| SG&A Expenses | $905K+74.0% | $723K+6.0% | $585K-7.4% | $556K-15.1% | $520K-32.6% | $682K+20.5% | $632K-14.9% | $655K+8.3% |
| Interest Expense | $4.7M-6.3% | $4.7M-8.7% | $5.0M-6.9% | $4.8M-10.2% | $5.0M-10.1% | $5.2M-6.8% | $5.4M-7.5% | $5.4M-7.8% |
| Income Tax | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Net Income | -$8.5M-7.4% | -$4.3M-128.5% | $4.2M+680.0% | $2.1M+34683.3% | -$7.9M-857.2% | $15.1M+11.4% | $540K-70.3% | $6K-99.8% |
| EPS (Basic) | -$0.32+15.8% | -$0.24-196.0% | -$0.05+66.7% | -$0.11+31.3% | -$0.38-100.0% | $0.25+19.0% | -$0.15-25.0% | -$0.16-100.0% |
| EPS (Diluted) | -$0.32+15.8% | -$0.24 | -$0.05+66.7% | -$0.11+31.3% | -$0.38 | $0.25+19.0% | -$0.15-25.0% | -$0.16-100.0% |
| Diluted Shares (Avg) | 43M+18.6% | 41M | N/A | 36M+1.0% | 36M | 36M+1.0% | N/A | 36M0.0% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
LAND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-5.3% | $1.2B-6.1% | $1.2B-5.6% | $1.2B-7.0% | $1.3B-6.9% | $1.3B-6.0% | $1.3B-5.4% | $1.3B-6.3% |
| Cash & Equivalents | $22.6M-26.0% | $8.6M-79.9% | $27.2M+48.7% | $11.3M-14.4% | $30.5M-38.7% | $42.9M-16.8% | $18.3M-1.6% | $13.2M-47.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $519.1M-11.8% | $515.4M-12.9% | $568.9M-9.0% | $564.0M-10.0% | $588.5M-8.6% | $591.9M-7.5% | $625.0M-6.4% | $626.7M-7.1% |
| Long-Term Debt | $486.0M-2.1% | $484.2M-2.9% | $473.6M-10.2% | $480.4M-9.5% | $496.4M-9.6% | $498.8M-9.7% | $527.5M-8.1% | $530.7M-9.2% |
| Total Equity | $673.1M+0.5% | $688.3M-0.2% | $670.3M-2.5% | $661.8M-4.3% | $670.1M-5.4% | $689.9M-4.6% | $687.2M-4.5% | $691.2M-5.5% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.
LAND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $19.9M+404.7% | $9.3M+108.1% | $10.6M-8.4% | -$12.0M-780.5% | $3.9M-75.2% | $4.5M+30.6% | $11.6M-33.5% | -$1.4M-1808.7% |
| Depreciation & Amortization | $7.9M-5.8% | $10.4M+23.0% | $9.4M+8.1% | $8.4M-4.7% | $8.4M-5.0% | $8.4M-4.1% | $8.6M-11.3% | $8.8M-4.7% |
| Investing Cash Flow | -$307K+89.1% | -$219K-100.4% | $7.7M+134.4% | $19.0M+1259.7% | -$2.8M-235.4% | $60.2M-3.7% | $3.3M+221.9% | -$1.6M+60.9% |
| Financing Cash Flow | -$5.7M+58.0% | -$27.6M+31.0% | -$2.4M+75.4% | -$26.1M+22.1% | -$13.6M+19.6% | -$40.0M-21.5% | -$9.8M+53.9% | -$33.5M-76.3% |
| Dividends Paid | $6.0M+19.0% | $5.8M+13.6% | $5.3M+3.8% | $5.1M+1.0% | $5.1M+1.2% | $5.1M+1.4% | $5.1M+1.5% | $5.0M+1.1% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Share Buybacks.
LAND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -66.7%-2.6pp | -26.0%-115.9pp | 10.2%+7.6pp | 11.7%+11.7pp | -64.1%-60.2pp | 89.9%+22.9pp | 2.6%-4.9pp | 0.0%-13.3pp |
| Return on Equity | -1.3%-0.1pp | -0.6%-2.8pp | 0.6%+0.5pp | 0.3%+0.3pp | -1.2%-1.1pp | 2.2%+0.3pp | 0.1%-0.2pp | 0.0%-0.4pp |
| Return on Assets | -0.7%-0.1pp | -0.4%-1.5pp | 0.3%+0.3pp | 0.2%+0.2pp | -0.6%-0.6pp | 1.2%+0.2pp | 0.0%-0.1pp | 0.0%-0.2pp |
| Debt-to-Equity | 0.720.0x | 0.700.0x | 0.71-0.1x | 0.730.0x | 0.740.0x | 0.720.0x | 0.770.0x | 0.770.0x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.030.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Gladstone Land LAND | FY2025 | $88.3M | $13.5M | 15.3% | $415.4M | 47/100 |
| Farmland Partners Inc FPI | FY2025 | $52.2M | $31.5M | 60.5% | $464.7M | 47/100 |
| Uniti Group Inc UNIT | FY2025 | $2.2B | $1.3B | 58.4% | $2.5B | 54/100 |
| EPR Properties EPR | FY2025 | $718.4M | $274.9M | 38.3% | $4.6B | 64/100 |
| Global Self Storage Inc SELF | FY2025 | $12.7M | $2.0M | 16.0% | $59.6M | 41/100 |
| Rayonier RYN | FY2025 | $484.5M | $474.4M | 97.9% | $6.1B | 36/100 |
Where Gladstone Land Ranks
Frequently Asked Questions
What is Gladstone Land's annual revenue?
Gladstone Land (LAND) reported $88.3M in total revenue for fiscal year 2025. This represents a 3.7% 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 Gladstone Land's revenue growing?
Gladstone Land (LAND) revenue grew by 3.7% year-over-year, from $85.2M to $88.3M in fiscal year 2025.
Is Gladstone Land profitable?
Yes, Gladstone Land (LAND) reported a net income of $13.5M in fiscal year 2025, with a net profit margin of 15.3%.
How much debt does Gladstone Land have?
As of fiscal year 2025, Gladstone Land (LAND) had $27.2M in cash and equivalents against $473.6M in long-term debt.
What is Gladstone Land's gross margin?
Gladstone Land (LAND) had a gross margin of 89.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Gladstone Land's net profit margin?
Gladstone Land (LAND) had a net profit margin of 15.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Gladstone Land's return on equity (ROE)?
Gladstone Land (LAND) has a return on equity of 2.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Gladstone Land's operating cash flow?
Gladstone Land (LAND) generated $7.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Gladstone Land's total assets?
Gladstone Land (LAND) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Gladstone Land's debt-to-equity ratio?
Gladstone Land (LAND) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gladstone Land's return on assets (ROA)?
Gladstone Land (LAND) had a return on assets of 1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Gladstone Land's P/E ratio?
Gladstone Land (LAND) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $415.4M as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Gladstone Land's price-to-sales ratio?
Gladstone Land (LAND) trades at 4.7x sales, its market capitalization divided by revenue of $88.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $415.4M as of Sep 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Gladstone Land's Piotroski F-Score?
Gladstone Land (LAND) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Gladstone Land's earnings high quality?
Gladstone Land (LAND) has an earnings quality ratio of 0.52x, 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 Gladstone Land?
Gladstone Land (LAND) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.