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Farmland Partners Inc.

FPI Clue Score59
United States Fiscal year ends December CIK 0001591670
$10.47 -0.19% Close, 9 Oct 2026
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Price $10.47 −5.85% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue31.0Operating income15.6Net income4.3EPS, diluted0.09Fiscal year 2017Revenue46.2 +49.1%Operating income22.5Net income7.9 +84.0%EPS, diluted0.03Fiscal year 2018Revenue56.1 +21.3%Operating income29.7Net income12.3 +54.8%EPS, diluted−0.01Fiscal year 2019Revenue53.6 −4.5%Operating income26.3Net income13.9 +13.3%EPS, diluted0.04Fiscal year 2020Revenue50.7 −5.4%Operating income22.3Net income7.1 −48.7%EPS, diluted−0.18Fiscal year 2021Revenue51.7 +2.1%Operating income16.8Net income10.0 +40.3%EPS, diluted−0.17Fiscal year 2022Revenue61.2 +18.3%Operating income25.0Net income11.7 +16.8%EPS, diluted0.16Fiscal year 2023Revenue57.5 −6.1%Net income30.9 +164.8%EPS, diluted0.53Fiscal year 2024Revenue58.2 +1.3%Net income59.9 +93.8%EPS, diluted1.06Fiscal year 2025Revenue52.2 −10.4%Net income31.5 −47.3%EPS, diluted0.61
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 31.0 46.2 56.1 53.6 50.7 51.7 61.2 57.5 58.2 52.2
Growth +49.1% +21.3% −4.5% −5.4% +2.1% +18.3% −6.1% +1.3% −10.4%
Operating income 15.6 22.5 29.7 26.3 22.3 16.8 25.0 n/a n/a n/a
Net income 4.3 7.9 12.3 13.9 7.1 10.0 11.7 30.9 59.9 31.5
Growth +84.0% +54.8% +13.3% −48.7% +40.3% +16.8% +164.8% +93.8% −47.3%
EPS, diluted 0.09 0.03 −0.01 0.04 −0.18 −0.17 0.16 0.53 1.06 0.61

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin50.4%Net margin13.9%Fiscal year 2017Operating margin48.7%Net margin17.1%Fiscal year 2018Operating margin53.0%Net margin21.9%Fiscal year 2019Operating margin49.2%Net margin25.9%Fiscal year 2020Operating margin44.1%Net margin14.0%Fiscal year 2021Operating margin32.5%Net margin19.3%Fiscal year 2022Operating margin40.8%Net margin19.1%Fiscal year 2023Net margin53.8%Fiscal year 2024Net margin102.9%Fiscal year 2025Net margin60.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 50.4% 48.7% 53.0% 49.2% 44.1% 32.5% 40.8% n/a n/a n/a
Net margin 13.9% 17.1% 21.9% 25.9% 14.0% 19.3% 19.1% 53.8% 102.9% 60.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow5.0Dividends paid−6.6Fiscal year 2017Operating cash flow0.9Buybacks−10.0Dividends paid−14.7Fiscal year 2018Operating cash flow20.0Buybacks−20.6Dividends paid−14.4Fiscal year 2019Operating cash flow18.0Buybacks−22.0Dividends paid−6.2Fiscal year 2020Operating cash flow19.7Buybacks−6.8Dividends paid−5.9Fiscal year 2021Operating cash flow7.9Dividends paid−6.4Fiscal year 2022Operating cash flow17.1Dividends paid−11.1Fiscal year 2023Operating cash flow12.9Buybacks−72.2Dividends paid−12.3Fiscal year 2024Operating cash flow16.1Buybacks−27.5Dividends paid−21.6Fiscal year 2025Operating cash flow17.4Buybacks−37.8Dividends paid−63.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 5.0 0.9 20.0 18.0 19.7 7.9 17.1 12.9 16.1 17.4
Buybacks n/a −10.0 −20.6 −22.0 −6.8 n/a n/a −72.2 −27.5 −37.8
Dividends paid −6.6 −14.7 −14.4 −6.2 −5.9 −6.4 −11.1 −12.3 −21.6 −63.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Total debt309.9Shareholders’ equity215.6Debt to equity1.44Fiscal year 2017Total debt515.8Shareholders’ equity371.0Debt to equity1.39Fiscal year 2018Cash16.9Total debt525.3Net cash (debt)−508.4Shareholders’ equity339.3Debt to equity1.55Fiscal year 2019Cash12.6Total debt512.9Net cash (debt)−500.3Shareholders’ equity313.5Debt to equity1.64Fiscal year 2020Cash27.2Total debt508.2Net cash (debt)−481.0Shareholders’ equity305.9Debt to equity1.66Fiscal year 2021Cash30.2Total debt513.4Net cash (debt)−483.3Shareholders’ equity472.1Debt to equity1.09Fiscal year 2022Cash7.7Total debt439.5Net cash (debt)−431.8Shareholders’ equity594.0Debt to equity0.74Fiscal year 2023Cash5.5Total debt363.1Net cash (debt)−357.6Shareholders’ equity528.8Debt to equity0.69Fiscal year 2024Cash78.4Total debt204.6Net cash (debt)−126.1Shareholders’ equity494.6Debt to equity0.41Fiscal year 2025Cash9.3Total debt161.6Net cash (debt)−152.3Shareholders’ equity467.4Debt to equity0.35
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash n/a n/a 16.9 12.6 27.2 30.2 7.7 5.5 78.4 9.3
Total debt 309.9 515.8 525.3 512.9 508.2 513.4 439.5 363.1 204.6 161.6
Net cash (debt) n/a n/a −508.4 −500.3 −481.0 −483.3 −431.8 −357.6 −126.1 −152.3
Shareholders’ equity 215.6 371.0 339.3 313.5 305.9 472.1 594.0 528.8 494.6 467.4
Debt to equity 1.44 1.39 1.55 1.64 1.66 1.09 0.74 0.69 0.41 0.35

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
50.4% 48.7% 53.0% 49.2% 44.1% 32.5% 40.8% n/a n/a n/a
19.4% 19.8% 25.0% 27.7% 14.9% 19.8% 19.9% 54.8% 105.5% 61.6%
13.9% 17.1% 21.9% 25.9% 14.0% 19.3% 19.1% 53.8% 102.9% 60.5%
Spending
22.7% 15.7% 13.1% 11.4% 11.6% 15.9% 19.6% 19.6% 24.2% 22.5%
0.2% n/a n/a 0.0% 0.0% 0.0% 1.9% −0.5% −0.0% −0.0%
Returns
2.0% 2.1% 3.6% 4.4% 2.3% 2.1% 2.0% 5.8% 12.1% 6.7%
0.7% 0.7% 1.1% 1.3% 0.7% 0.9% 1.0% 3.0% 6.9% 4.4%
Balance and payout
1.44 1.39 1.55 1.64 1.66 1.09 0.74 0.69 0.41 0.35
48.8% 45.5% 47.0% 47.7% 48.1% 47.2% 39.3% 38.3% 31.4% 25.2%
153.4% 185.6% 117.8% 44.5% 83.5% 63.7% 95.3% 39.7% 36.1% 202.1%