Farmland Partners Inc - Understand $fpi stock

$FPI Market Cap: $586.3 Million

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Financial Snapshot

Revenue

$58.34M

TTM

Gross Margin

78.02%

TTM

Net Earnings

$18.15M

TTM

Current Assets

$20.36M

Q3 2024

Current Liabilities

$14.11M

Q3 2024

Current Ratio

144.32%

Q3 2024

Total Assets

$1.027B

Q3 2024

Total Liabilities

$406.5M

Q3 2024

Book Value

$620.6M

Q3 2024

Cash

$8.090M

Q3 2024

P/E

32.30

Nov 13, 2024 EST

Free Cash Flow

-$12.53M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$57.47M	$61.21M	$51.74M	$50.69M	$53.56M	$56.07M	$46.22M	$31.00M	$13.76M	$4.220M	$2.350M	$2.120M	$1.550M
YoY Change	-6.12%	18.31%	2.07%	-5.37%	-4.47%	21.31%	49.1%	125.29%	226.07%	79.57%	10.85%	36.77%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$57.47M	$61.21M	$51.74M	$50.69M	$53.56M	$56.07M	$46.22M	$31.00M	$13.76M	$4.220M	$2.350M	$2.120M	$1.550M
Cost Of Revenue	$13.41M	$14.16M	$8.856M	$10.74M	$8.820M	$7.830M	$5.900M	$2.380M	$1.100M	$250.0K	$40.00K	$190.0K
Gross Profit	$44.05M	$47.05M	$42.88M	$39.95M	$44.74M	$48.24M	$40.32M	$28.62M	$12.65M	$3.970M	$2.310M	$1.940M
Gross Profit Margin	76.66%	76.87%	82.88%	78.81%	83.53%	86.04%	87.23%	92.32%	91.93%	94.08%	98.3%	91.51%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Selling, General & Admin	$12.55M	$14.88M	$18.36M	$9.640M	$10.07M	$9.810M	$8.710M	$8.470M	$5.280M	$2.890M	$790.0K	$50.00K	$130.0K
YoY Change	-15.63%	-18.94%	90.4%	-4.27%	2.65%	12.63%	2.83%	60.42%	82.7%	265.82%	1480.0%	-61.54%
% of Gross Profit	28.5%	31.62%	42.8%	24.13%	22.51%	20.34%	21.6%	29.59%	41.74%	72.8%	34.2%	2.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$7.499M	$6.960M	$7.629M	$7.972M	$8.320M	$8.540M	$7.790M	$1.550M	$890.0K	$330.0K	$150.0K	$120.0K	$50.00K
YoY Change	7.74%	-8.77%	-4.3%	-4.18%	-2.58%	9.63%	402.58%	74.16%	169.7%	120.0%	25.0%	140.0%
% of Gross Profit	17.02%	14.79%	17.79%	19.95%	18.6%	17.7%	19.32%	5.42%	7.04%	8.31%	6.49%	6.19%
Operating Expenses	$39.47M	$36.24M	$34.93M	$28.36M	$27.23M	$18.37M	$16.86M	$10.47M	$6.180M	$3.220M	$930.0K	$170.0K	$210.0K
YoY Change	8.92%	3.75%	23.15%	4.16%	48.21%	8.96%	61.03%	69.42%	91.93%	246.24%	447.06%	-19.05%
Operating Profit	$4.585M	$24.97M	$16.81M	$22.33M	$26.34M	$29.87M	$23.46M	$18.15M	$6.470M	$750.0K	$1.380M	$1.770M
YoY Change	-81.64%	48.54%	-24.7%	-15.22%	-11.83%	27.32%	29.26%	180.53%	762.67%	-45.65%	-22.03%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense	$22.66M	$16.14M	$15.93M	$17.68M	$19.59M	-$18.80M	-$13.56M	-$9.960M	-$4.620M	-$1.370M	-$1.340M	-$1.160M	-$1.110M
YoY Change	40.35%	1.34%	-9.89%	-9.76%	-204.19%	38.64%	36.14%	115.58%	237.23%	2.24%	15.52%	4.5%
% of Operating Profit	494.15%	64.64%	94.74%	79.17%	74.37%	-62.94%	-57.8%	-54.88%	-71.41%	-182.67%	-97.1%	-65.54%
Other Income/Expense, Net	$13.52M	-$12.79M	-$6.554M	-$14.80M	-$11.49M	$260.0K	$390.0K	$340.0K	$100.0K
YoY Change	-205.7%	95.1%	-55.71%	28.83%	-4518.08%	-33.33%	14.71%	240.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Pretax Income	$31.52M	$12.19M	$10.26M	$7.530M	$14.85M	$14.04M	$9.160M	$6.010M	$1.700M	-$670.0K	$30.00K	$590.0K	$260.0K
YoY Change	158.6%	18.79%	36.24%	-49.29%	5.77%	53.28%	52.41%	253.53%	-353.73%	-2333.33%	-94.92%	126.92%
Income Tax	-$200.0K	$200.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$10.00K	$10.00K				$0.00
% Of Pretax Income	-0.63%	1.64%	0.0%	0.0%	0.0%	0.0%	0.0%	0.17%	0.59%				0.0%
Net Earnings	$30.91M	$11.67M	$9.991M	$7.119M	$13.89M	$12.25M	$7.910M	$4.300M	$1.230M	-$570.0K	$30.00K	$590.0K	$260.0K
YoY Change	164.8%	16.85%	40.34%	-48.73%	13.36%	54.87%	83.95%	249.59%	-315.79%	-2000.0%	-94.92%	126.92%
Net Earnings / Revenue	53.79%	19.07%	19.31%	14.04%	25.92%	21.85%	17.11%	13.87%	8.94%	-13.51%	1.28%	27.83%	16.77%
Basic Earnings Per Share	$0.55	$0.16	-$0.17	-$0.18	$0.04
Diluted Earnings Per Share	$0.53	$0.16	-$0.17	-$0.18	$0.04	$380.9K	$253.4K	$325.8K	$127.7K	-$133.8K	$6.160K	$121.1K	$53.39K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Cash & Short-Term Investments	$5.489M	$7.654M	$30.17M	$27.20M	$12.60M	$16.90M	$53.50M	$47.20M	$23.50M	$33.70M	$0.00	$0.00	$0.00
YoY Change	-28.29%	-74.63%	10.92%	115.87%	-25.44%	-68.41%	13.35%	100.85%	-30.27%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets	$2.447M	$3.196M	$3.392M	$2.900M	$3.400M	$3.600M	$3.100M	$1.100M
YoY Change	-23.44%	-5.78%	16.97%	-14.71%	-5.56%	16.13%	181.82%
Inventory	$2.335M	$2.808M	$3.059M	$1.100M	$1.600M	$300.0K	$100.0K	$300.0K	$200.0K	$0.00
Prepaid Expenses
Receivables	$7.743M	$7.055M	$4.900M	$4.100M	$5.500M	$6.100M	$6.700M	$4.200M	$700.0K	$500.0K	$500.0K	$0.00	$100.0K
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$18.01M	$20.71M	$41.52M	$35.30M	$23.10M	$26.90M	$63.40M	$52.80M	$24.40M	$34.20M	$500.0K		$100.0K
YoY Change	-13.03%	-50.12%	17.63%	52.81%	-14.13%	-57.57%	20.08%	116.39%	-28.65%	6740.0%
Property, Plant & Equipment	$961.9M	$1.106B	$1.065B	$1.053B	$1.075B	$1.100B	$1.092B	$594.1M	$316.2M	$165.7M	$38.40M	$36.90M	$27.20M
YoY Change	-13.05%	3.85%	1.14%	-1.98%	-2.33%	0.73%	83.82%	87.89%	90.83%	331.51%	4.07%	35.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$4.562M	$4.333M	$3.485M		$0.00	$0.00	$200.0K	$5.700M	$800.0K	$400.0K
YoY Change	5.29%	24.33%				-100.0%	-96.49%	612.5%	100.0%
Other Assets	$28.00K	$96.00K	$570.0K	$100.0K	$200.0K	$500.0K	$600.0K	$200.0K	$300.0K	$0.00	$800.0K	$0.00	$100.0K
YoY Change	-70.83%	-83.16%	470.0%	-50.0%	-60.0%	-16.67%	200.0%	-33.33%		-100.0%		-100.0%
Total Long-Term Assets	$1.004B	$1.139B	$1.080B	$1.056B	$1.080B	$1.113B	$1.103B	$602.7M	$320.6M	$166.5M	$39.20M		$27.30M
YoY Change	-11.89%	5.5%	2.3%	-2.2%	-2.98%	0.9%	82.96%	87.99%	92.55%	324.74%
Total Assets	$1.022B	$1.160B	$1.122B	$1.091B	$1.103B	$1.140B	$1.166B	$655.5M	$345.0M	$200.7M	$39.70M	$36.90M	$27.40M
YoY Change
Accounts Payable
YoY Change
Accrued Expenses	$14.90M	$15.68M	$14.44M	$13.60M	$10.90M	$9.500M	$7.600M	$7.300M	$2.700M	$1.100M	$1.300M	$400.0K	$400.0K
YoY Change	-5.01%	8.58%	6.21%	24.77%	14.74%	25.0%	4.11%	170.37%	145.45%	-15.38%	225.0%	0.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$28.18M	$19.02M	$16.79M	$15.20M	$12.50M	$11.20M	$12.40M	$10.20M	$4.800M	$2.200M	$1.300M	$400.0K	$400.0K
YoY Change	48.21%	13.28%	10.43%	21.6%	11.61%	-9.68%	21.57%	112.5%	118.18%	69.23%	225.0%	0.0%
Long-Term Debt	$360.9M	$436.9M	$511.3M	$506.6M	$511.4M	$523.6M	$514.1M	$308.8M	$187.1M	$113.5M	$43.10M	$36.20M	$32.40M
YoY Change	-17.4%	-14.56%	0.93%	-0.94%	-2.33%	1.85%	66.48%	65.05%	64.85%	163.34%	19.06%	11.73%
Other Long-Term Liabilities	$2.149M	$44.00K	$830.0K	$2.900M	$1.700M	$1.100M	$3.900M	$1.000M	$4.900M	$1.400M	$0.00
YoY Change	4784.09%	-94.7%	-71.38%	70.59%	54.55%	-71.79%	290.0%	-79.59%	250.0%
Total Long-Term Liabilities	$363.0M	$436.9M	$512.2M	$509.5M	$513.1M	$524.7M	$518.0M	$309.8M	$192.0M	$114.9M	$43.10M	$36.20M	$32.40M
YoY Change	-16.92%	-14.69%	0.52%	-0.7%	-2.21%	1.29%	67.2%	61.35%	67.1%	166.59%	19.06%	11.73%
Total Liabilities	$506.1M	$579.4M	$663.2M	$661.2M	$665.2M	$701.2M	$697.4M	$493.6M	$236.6M	$134.3M	$44.40M	$36.60M	$32.70M
YoY Change	-12.64%	-12.64%	0.3%	-0.6%	-5.13%	0.54%	41.29%	108.62%	76.17%	202.48%	21.31%	11.93%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019
Basic Shares Outstanding	50.24M	50.95M	34.64M	29.38M	30.17M
Diluted Shares Outstanding	58.29M	50.95M	34.64M	29.38M	30.17M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $586.26 Million

About Farmland Partners Inc

Farmland Partners, Inc. is an internally managed real estate company. The company is headquartered in Denver, Colorado and currently employs 25 full-time employees. The company went IPO on 2014-04-11. The firm owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. Its portfolio is used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and produce specialty crops, such as almonds, citrus, blueberries and vegetables. In addition, under the FPI Loan Program, it provides loans to third-party farmers (both tenant and non-tenant) to provide financing for property acquisitions, working capital requirements and others. The company has over 26 crop types and over 100 tenants.

Industry: Real Estate Investment Trusts Peers: American Tower Corp Global Self Storage Inc CatchMark Timber Trust, Inc. OUTFRONT Media Inc Uniti Group Inc Four Corners Property Trust Inc Gladstone Land Corp Power REIT Safehold Inc. /MD