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Farmland Partners Inc

Real Estate US FPI

10.735USD
-0.615(5.42%)

Last update at 2024-07-25T16:50:00Z

Day Range

10.6111.25
LowHigh

52 Week Range

9.2813.43
LowHigh

Fundamentals

  • Previous Close 11.35
  • Market Cap638.11M
  • Volume576147
  • P/E Ratio39.15
  • Dividend Yield1.89%
  • EBITDA31.38M
  • Revenue TTM57.72M
  • Revenue Per Share TTM1.11
  • Gross Profit TTM 47.11M
  • Diluted EPS TTM0.33

Financials

Income Statement

Balancesheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 12.19M 10.23M 7.53M 14.85M 14.04M
Minority interest -0.28600M -0.26700M 136.35M 0.96M 1.79M
Net income 11.67M -6.04900M -10.44700M -5.96200M 12.25M
Selling general administrative 14.88M 18.38M 9.64M 10.07M 9.81M
Selling and marketing expenses - - - - -
Gross profit 47.05M 42.88M 39.95M 44.74M 48.23M
Reconciled depreciation 6.96M 7.63M 7.97M 8.32M 8.54M
Ebit 24.97M 16.79M 22.33M 26.34M 30.14M
Ebitda 32.76M 24.55M 30.20M 34.92M 38.68M
Depreciation and amortization 7.79M 7.77M 7.87M 8.59M 8.54M
Non operating income net other 3.36M 9.38M 2.88M 8.10M 3.15M
Operating income 24.97M 16.79M 22.33M 26.34M 29.69M
Other operating expenses 36.12M 34.90M 28.35M 27.22M 26.20M
Interest expense 16.14M 15.93M 17.68M 19.59M 18.80M
Tax provision 0.23M 0.00000M 0.00000M 0.00000M 0.00000M
Interest income 16.09M 15.91M 17.68M 19.59M 18.80M
Net interest income -16.14300M -15.92900M -17.67700M -19.58800M -18.79900M
Extraordinary items - - - - -
Non recurring 0.11M 0.06M 0.01M 0.00600M 0.18M
Other items - - - - -
Income tax expense 0.23M 16.28M 17.98M 20.81M 1.79M
Total revenue 61.21M 51.74M 50.69M 53.56M 56.07M
Total operating expenses 21.97M 26.04M 17.61M 18.40M 18.36M
Cost of revenue 14.16M 8.86M 10.74M 8.82M 7.83M
Total other income expense net -12.78700M -6.55400M -14.79900M -11.48700M 2.97M
Discontinued operations - - - - -
Net income from continuing ops 11.96M 10.23M 7.53M 14.85M 14.04M
Net income applicable to common shares 8.40M -5.86000M -5.27900M 1.32M -0.42000M
Preferred stock and other adjustments - - - - -
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 1160.15M 1121.53M 1090.99M 1102.55M 1139.51M
Intangible assets 2.06M 1.92M - - -
Earning assets - - - - -
Other current assets 3.38M 3.98M 2.89M 3.44M 3.64M
Total liab 455.94M 528.94M 645.31M 646.15M 535.97M
Total stockholder equity 580.79M 458.31M 429.84M 437.36M 438.35M
Deferred long term liab 0.04M 0.04M 0.09M 0.17M 0.48M
Other current liab 18.37M 16.68M 15.15M 12.45M 11.22M
Common stock 0.53M 0.44M 0.30M 0.29M 0.30M
Capital stock 0.53M 0.44M 140.06M 143.15M 144.06M
Retained earnings -70.39700M -66.61800M -53.71400M -42.53300M -37.84300M
Other liab 0.04M 0.04M 0.04M 0.07M 0.24M
Good will 2.71M 2.71M - - -
Other assets 1129.18M 1065.81M 1060.31M 4.42M 11.53M
Cash 7.65M 30.17M 27.22M 12.56M 16.89M
Cash and equivalents - - - - -
Total current liabilities 18.73M 16.72M 15.18M 12.52M 11.46M
Current deferred revenue 0.04M 0.04M 0.04M 0.07M 0.24M
Net debt 429.55M 481.26M 479.50M 498.92M 506.75M
Short term debt 0.33M 0.11M 0.09M 0.07M 0.86M
Short long term debt - - - 1.64M 0.86M
Short long term debt total 437.20M 511.43M 506.72M 511.48M 523.64M
Other stockholder equity 647.35M 524.21M 345.87M 338.39M 333.00M
Property plant equipment 1106.24M 1065.21M 1053.21M 1074.47M 1100.15M
Total current assets 39.62M 48.22M 37.69M 27.83M 38.88M
Long term investments 4.18M 3.43M - - -
Net tangible assets 686.24M 453.69M 290.07M 557.87M 558.86M
Short term investments 4.18M 3.43M - - -
Net receivables 28.98M 11.01M 6.47M 10.28M 18.01M
Long term debt 436.88M 511.32M 506.62M 513.05M 524.51M
Inventory 2.81M 3.06M 1.12M 1.55M 0.34M
Accounts payable 18.69M -0.10700M -0.09300M -0.07300M 11.22M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity 13.22M 13.76M 15.84M 19.04M 44.69M
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income 3.31M 0.28M -2.38000M -1.64400M -0.86500M
Additional paid in capital - - - - -
Common stock total equity 0.53M 0.44M 0.30M 0.29M 0.30M
Preferred stock total equity - - - - -
Retained earnings total equity -70.39700M -66.59200M -53.71400M -42.53300M -37.84300M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 1111.26M 1065.15M 1053.21M 1074.65M 1100.63M
Deferred long term asset charges - - - - -
Non current assets total 1120.53M 1073.30M 1053.30M 1074.72M 1100.63M
Capital lease obligations 0.33M 0.11M 0.09M 0.07M -
Long term debt total 436.88M 511.32M 509.52M 513.05M 524.51M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -18.70000M -4.65600M 18.67M 4.90M -1.81000M
Change to liabilities 0.16M -0.37900M 0.14M 1.29M -0.42100M
Total cashflows from investing activities -60.39800M -18.76900M 18.67M 31.05M -15.86400M
Net borrowings -75.27900M 4.07M -4.66600M -11.38500M 9.29M
Total cash from financing activities 20.83M 13.87M -23.73800M -53.37600M -40.78400M
Change to operating activities -0.03700M -0.96000M 2.43M 1.30M 2.43M
Net income 11.96M 10.26M 7.53M 14.85M 14.04M
Change in cash -22.51700M 2.95M 14.66M -4.33000M -36.64500M
Begin period cash flow 30.17M 27.22M 12.56M 16.89M 53.54M
End period cash flow 7.65M 30.17M 27.22M 12.56M 16.89M
Total cash from operating activities 17.05M 7.86M 19.73M 17.99M 20.00M
Issuance of capital stock 121.37M 27.16M 10.00M - 0.00000M
Depreciation 6.96M 7.63M 7.97M -0.00100M -0.00500M
Other cashflows from investing activities 17.06M 69.78M 1.76M 34.14M 31.89M
Dividends paid -14.63600M -16.41200M -18.27600M -18.66200M 27.00M
Change to inventory 0.25M -1.71500M 0.43M -1.26400M -0.21600M
Change to account receivables -2.33500M -0.97400M 1.20M 1.26M -0.42200M
Sale purchase of stock -10.15800M -0.65000M -9.91400M -22.89900M -21.22000M
Other cashflows from financing activities 221.19M 39.68M 53.48M -0.43000M -2.06000M
Change to netincome -0.89200M -7.48000M 0.06M -5.87100M -0.35700M
Capital expenditures 58.76M 83.89M 3.57M 26.15M 14.05M
Change receivables -2.45400M -1.07400M 1.26M 0.45M -0.90600M
Cash flows other operating 0.24M -0.64200M 0.29M -0.10400M -1.03400M
Exchange rate changes - - - - -
Cash and cash equivalents changes -22.51700M 2.95M 14.66M -4.33000M -36.64500M
Change in working capital -2.18400M -3.80700M 4.27M 0.38M -2.57200M
Stock based compensation 1.94M 1.26M 1.06M 1.43M 1.65M
Other non cash items -1.62500M 0.14M 6.87M 1.34M 0.35M
Free cash flow 17.05M 7.86M 19.73M 17.99M 20.00M

Peer Comparison

Sector: Real Estate Industry: REIT - Specialty

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x) Enterprise Value to Revenue (x) Enterprise Value to EBITDA (x)
FPI
Farmland Partners Inc
-0.615 5.42% 10.73 39.15 50.76 11.06 1.19 17.80 20.53
AMT
American Tower Corp
2.44 1.17% 211.83 145.45 43.10 8.90 21.71 12.94 27.44
EQIX
Equinix Inc
-12.06 1.52% 782.09 76.95 63.29 9.32 5.79 10.70 25.99
CCI
Crown Castle
0.83 0.79% 106.30 32.08 28.57 7.02 7.44 11.06 19.02
DLR
Digital Realty Trust Inc
-1.35 0.89% 150.31 46.75 98.04 7.73 2.30 10.89 19.17

Reports Covered

Stock Research & News

Profile

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of September 30, 2023, the Company owns and/or manages approximately 178,200 acres in 20 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina, Texas, and Virginia. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. The Company has approximately 26 crop types and over 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.

Farmland Partners Inc

4600 South Syracuse Street, Denver, CO, United States, 80237

Key Executives

Name Title Year Born
Mr. Paul A. Pittman Exec. Chairman & CEO 1962
Mr. Luca Fabbri Pres 1969
Mr. James Gilligan Chief Financial Officer NA
Mr. Richard Keck VP of Operations NA
Ms. Christine M. Garrison Gen. Counsel & Sec. NA
Mr. Phillip Hayes VP of Marketing NA

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