What is Gladstone Land's earnings per share (EPS)?

Gladstone Land (LANDP) reported diluted earnings per share of $-0.29 for fiscal year 2025. This represents a 0.0% 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.

Gladstone Land Financials

LANDP

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Gladstone Land (LANDP) 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).

Rhea AI LANDP FY2025 2026-04-22

LANDP's visible mechanic is balance-sheet contraction: assets are being monetized to cut leverage and keep payouts flowing.

From FY2023 to FY2025, operating cash flow fell from $40.1M to $7.0M. Because net income still stayed near $13.5M and positive investing cash flow continued, more of the year's cash support appears to have come from asset recycling than from current operations, which weakens the cash backing behind reported profit.

The balance sheet is being simplified: long-term debt fell to $473.6M from $626.5M, while total assets also moved lower, which looks like deleveraging through a smaller asset base rather than expansion. That matters because the business still carries a meaningful fixed financial load; interest expense alone was $20.0M, so reducing debt directly affects how much cash remains after financing costs.

Dividends consumed more cash than operations produced in the latest year, with payouts of $20.5M against only $7.0M of operating cash flow. The cash cushion is not especially large either, at $27.2M, so the company currently depends more on portfolio turnover and balance-sheet actions than on recurring operating cash generation to fund distributions.

Financial Health Signals

Financial health score pending refresh

We are recalculating Gladstone Land's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

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.

Earnings Quality Mixed

0.52x

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

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Earnings & Revenue

Revenue

$88.3M

YoY+3.7%

5Y CAGR+9.1%

Gladstone Land generated $88.3M in revenue in fiscal year 2025. This represents an increase of 3.7% from the prior year.

EBITDA

N/A

Net Income

$13.5M

YoY+1.8%

5Y CAGR+22.4%

Gladstone Land reported $13.5M in net income in fiscal year 2025. This represents an increase of 1.8% from the prior year.

EPS (Diluted)

$-0.29

YoY+0.0%

Gladstone Land earned $-0.29 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$27.2M

YoY+48.7%

5Y CAGR+24.1%

10Y CAGR+26.4%

Gladstone Land held $27.2M in cash against $473.6M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

38M

YoY+5.1%

5Y CAGR+7.7%

10Y CAGR+17.2%

Gladstone Land had 38M shares outstanding in fiscal year 2025. This represents an increase of 5.1% from the prior year.

Margins & Returns

Gross Margin

89.1%

YoY-10.9pp

Gladstone Land's gross margin was 89.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 10.9 percentage points from the prior year.

Operating Margin

N/A

Net Margin

15.3%

YoY-0.3pp

5Y CAGR+6.7pp

Gladstone Land's net profit margin was 15.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

2.0%

YoY+0.1pp

5Y CAGR+0.7pp

10Y CAGR+2.2pp

Gladstone Land's ROE was 2.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

LANDP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$88.3M+3.7%	$85.2M-5.7%	$90.4M+1.3%	$89.2M+18.5%	$75.3M+32.1%	$57.0M
Cost of Revenue	$9.6M	$0	$0	N/A	N/A	N/A
Gross Profit	$78.8M-7.6%	$85.2M-5.7%	$90.4M	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.3M-10.7%	$2.6M-10.2%	$2.9M+6.7%	$2.7M+28.1%	$2.1M+1.8%	$2.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$20.0M-8.5%	$21.9M-7.5%	$23.7M-8.1%	$25.7M+3.4%	$24.9M+20.7%	$20.6M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$13.5M+1.8%	$13.3M-8.8%	$14.6M+209.4%	$4.7M+34.7%	$3.5M-29.0%	$4.9M
EPS (Diluted)	$-0.290.0%	$-0.29-3.6%	$-0.28+34.9%	$-0.43-48.3%	$-0.29-45.0%	$-0.20

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$16.6M-60.1%	$41.5M+133.1%	$17.8M+44.6%	$12.3M-26.8%	$16.8M-20.3%	$21.1M-6.5%	$22.6M+6.0%	$21.3M
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	$723K+23.6%	$585K+5.2%	$556K+6.9%	$520K-23.8%	$682K+7.9%	$632K-3.5%	$655K-15.2%	$772K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$4.7M-5.9%	$5.0M+3.5%	$4.8M-2.5%	$5.0M-3.9%	$5.2M-4.0%	$5.4M-0.2%	$5.4M-2.4%	$5.5M
Income Tax	$0	N/A	N/A	N/A	$0	N/A	N/A	N/A
Net Income	-$4.3M-202.2%	$4.2M+101.8%	$2.1M+126.5%	-$7.9M-152.1%	$15.1M+2697.8%	$540K+8900.0%	$6K+100.7%	-$823K
EPS (Diluted)	$-0.24	N/A	$-0.11+71.1%	$-0.38-252.0%	$0.25	N/A	$-0.16+15.8%	$-0.19

LANDP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.2B-5.6%	$1.3B-5.4%	$1.4B-4.8%	$1.5B+7.8%	$1.4B+26.6%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$27.2M+48.7%	$18.3M-1.6%	$18.6M-69.6%	$61.1M+265.9%	$16.7M+81.3%	$9.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$568.9M-9.0%	$625.0M-6.4%	$667.7M-8.0%	$725.9M-4.8%	$762.5M+11.6%	$683.5M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$473.6M-10.2%	$527.5M-8.1%	$574.1M-8.4%	$626.5M-6.2%	$668.0M+7.0%	$624.1M
Total Equity	$670.3M-2.5%	$687.2M-4.5%	$719.6M-1.6%	$731.4M+24.6%	$586.8M+52.9%	$383.8M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.2B-2.9%	$1.2B+1.1%	$1.2B-2.6%	$1.3B-1.8%	$1.3B-2.3%	$1.3B-0.4%	$1.3B-2.6%	$1.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.6M-68.3%	$27.2M+140.2%	$11.3M-62.9%	$30.5M-29.0%	$42.9M+134.8%	$18.3M+38.3%	$13.2M-73.4%	$49.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$515.4M-9.4%	$568.9M+0.9%	$564.0M-4.2%	$588.5M-0.6%	$591.9M-5.3%	$625.0M-0.3%	$626.7M-2.7%	$644.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$484.2M+2.2%	$473.6M-1.4%	$480.4M-3.2%	$496.4M-0.5%	$498.8M-5.4%	$527.5M-0.6%	$530.7M-3.4%	$549.4M
Total Equity	$688.3M+2.7%	$670.3M+1.3%	$661.8M-1.2%	$670.1M-2.9%	$689.9M+0.4%	$687.2M-0.6%	$691.2M-2.4%	$708.5M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LANDP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$7.0M-76.3%	$29.5M-26.3%	$40.1M-8.5%	$43.8M+35.2%	$32.4M+29.5%	$25.0M
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	$84.1M+32.8%	$63.3M+1780.1%	-$3.8M+95.6%	-$85.5M+71.0%	-$295.0M-8.1%	-$272.9M
Financing Cash Flow	-$82.2M+11.8%	-$93.2M-18.1%	-$78.9M-191.6%	$86.1M-68.1%	$270.1M+11.0%	$243.4M
Dividends Paid	$20.5M+1.8%	$20.1M+1.5%	$19.8M+4.7%	$18.9M+14.6%	$16.5M+37.0%	$12.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$9.3M-12.4%	$10.6M+188.2%	-$12.0M-404.8%	$3.9M-11.6%	$4.5M-61.4%	$11.6M+947.3%	-$1.4M-108.6%	$15.9M
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	-$219K-102.9%	$7.7M-59.7%	$19.0M+773.8%	-$2.8M-104.7%	$60.2M+1742.0%	$3.3M+299.5%	-$1.6M-94.9%	-$841K
Financing Cash Flow	-$27.6M-1045.5%	-$2.4M+90.8%	-$26.1M-92.7%	-$13.6M+66.1%	-$40.0M-309.0%	-$9.8M+70.8%	-$33.5M-98.8%	-$16.9M
Dividends Paid	$5.8M+9.6%	$5.3M+3.7%	$5.1M0.0%	$5.1M0.0%	$5.1M+0.1%	$5.1M+0.9%	$5.0M+0.2%	$5.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LANDP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	89.1%-10.9pp	100.0%0.0pp	100.0%	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	15.3%-0.3pp	15.6%-0.5pp	16.1%+10.8pp	5.3%+0.6pp	4.6%-4.0pp	8.6%
Return on Equity	2.0%+0.1pp	1.9%-0.1pp	2.0%+1.4pp	0.6%+0.0pp	0.6%-0.7pp	1.3%
Return on Assets	1.1%+0.1pp	1.0%-0.0pp	1.1%+0.7pp	0.3%+0.1pp	0.3%-0.2pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.71-0.1	0.77-0.0	0.80-0.1	0.86-0.3	1.14-0.5	1.63
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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	-26.0%-36.2pp	10.2%-1.6pp	11.7%+75.8pp	-64.1%-154.0pp	89.9%+87.4pp	2.6%+2.5pp	0.0%+3.9pp	-3.9%
Return on Equity	-0.6%-1.3pp	0.6%+0.3pp	0.3%+1.5pp	-1.2%-3.4pp	2.2%+2.1pp	0.1%+0.1pp	0.0%+0.1pp	-0.1%
Return on Assets	-0.4%-0.7pp	0.3%+0.2pp	0.2%+0.8pp	-0.6%-1.8pp	1.2%+1.1pp	0.0%+0.0pp	0.0%+0.1pp	-0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.700.0	0.71-0.0	0.73-0.0	0.74+0.0	0.72-0.0	0.770.0	0.770.0	0.78
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Gladstone Land's annual revenue?

Gladstone Land (LANDP) 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 (LANDP) 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 (LANDP) 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 (LANDP) had $27.2M in cash and equivalents against $473.6M in long-term debt.

What is Gladstone Land's gross margin?

Gladstone Land (LANDP) 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 (LANDP) 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 (LANDP) 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 (LANDP) 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 (LANDP) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Gladstone Land have outstanding?

Gladstone Land (LANDP) had 38M shares outstanding as of fiscal year 2025.

What is Gladstone Land's debt-to-equity ratio?

Gladstone Land (LANDP) 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 (LANDP) 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 Piotroski F-Score?

Gladstone Land (LANDP) 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 (LANDP) 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.