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GLADSTONE LAND Corp

LAND Clue Score39
United States Fiscal year ends December CIK 0001495240
$9.48 -0.52% Close, 9 Oct 2026
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Price $9.48 −58.37% 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 2016Operating income7.1Net income0.4Fiscal year 2017Operating income11.4Fiscal year 2018Revenue36.7Net income2.6Fiscal year 2019Revenue40.7 +10.9%Net income1.7 −33.8%Fiscal year 2020Revenue57.0 +40.2%Net income4.9 +182.9%EPS, diluted−0.20Fiscal year 2021Revenue75.3 +32.1%Net income3.5 −29.0%EPS, diluted−0.29Fiscal year 2022Revenue89.2 +18.5%Net income4.7 +34.7%EPS, diluted−0.43Fiscal year 2023Revenue0.0 −100.0%Net income14.6 +209.4%EPS, diluted−0.28Fiscal year 2024Revenue0.0Net income13.3 −8.8%EPS, diluted−0.29Fiscal year 2025Revenue12.2Net income13.5 +1.8%EPS, diluted−0.29
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a n/a 36.7 40.7 57.0 75.3 89.2 0.0 0.0 12.2
Growth +10.9% +40.2% +32.1% +18.5% −100.0%
Operating income 7.1 11.4 n/a n/a n/a n/a n/a n/a n/a n/a
Net income 0.4 n/a 2.6 1.7 4.9 3.5 4.7 14.6 13.3 13.5
Growth −33.8% +182.9% −29.0% +34.7% +209.4% −8.8% +1.8%
EPS, diluted n/a n/a n/a n/a −0.20 −0.29 −0.43 −0.28 −0.29 −0.29
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2016Fiscal year 2017Fiscal year 2018Net margin7.2%Fiscal year 2019Net margin4.3%Fiscal year 2020Net margin8.6%Fiscal year 2021Net margin4.6%Fiscal year 2022Net margin5.3%Fiscal year 2023Fiscal year 2024Fiscal year 2025Net margin111.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net margin n/a n/a 7.2% 4.3% 8.6% 4.6% 5.3% n/a n/a 111.2%

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 flow8.4Dividends paid−5.0Fiscal year 2017Fiscal year 2018Operating cash flow10.4Dividends paid−8.3Fiscal year 2019Operating cash flow21.4Dividends paid−10.5Fiscal year 2020Operating cash flow25.0Dividends paid−12.0Fiscal year 2021Operating cash flow32.4Dividends paid−16.5Fiscal year 2022Operating cash flow43.8Dividends paid−18.9Fiscal year 2023Operating cash flow40.1Dividends paid−19.8Fiscal year 2024Operating cash flow29.5Dividends paid−20.1Fiscal year 2025Operating cash flow7.0Dividends paid−20.5
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 8.4 n/a 10.4 21.4 25.0 32.4 43.8 40.1 29.5 7.0
Dividends paid −5.0 n/a −8.3 −10.5 −12.0 −16.5 −18.9 −19.8 −20.1 −20.5

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.4Total debt207.3Net cash (debt)−204.9Shareholders’ equity76.7Debt to equity2.70Fiscal year 2017Cash2.9Total debt301.0Net cash (debt)−298.1Shareholders’ equity109.9Debt to equity2.74Fiscal year 2018Cash14.7Total debt335.9Net cash (debt)−321.2Shareholders’ equity176.2Debt to equity1.91Fiscal year 2019Cash13.7Total debt481.9Net cash (debt)−468.2Shareholders’ equity276.6Debt to equity1.74Fiscal year 2020Cash9.2Total debt624.1Net cash (debt)−614.8Shareholders’ equity383.8Debt to equity1.63Fiscal year 2021Cash16.7Total debt668.0Net cash (debt)−651.3Shareholders’ equity586.8Debt to equity1.14Fiscal year 2022Cash61.1Total debt626.5Net cash (debt)−565.4Shareholders’ equity731.4Debt to equity0.86Fiscal year 2023Cash18.6Total debt574.1Net cash (debt)−555.5Shareholders’ equity719.6Debt to equity0.80Fiscal year 2024Cash18.3Total debt527.5Net cash (debt)−509.2Shareholders’ equity687.2Debt to equity0.77Fiscal year 2025Cash27.2Total debt473.6Net cash (debt)−446.5Shareholders’ equity670.3Debt to equity0.71
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.4 2.9 14.7 13.7 9.2 16.7 61.1 18.6 18.3 27.2
Total debt 207.3 301.0 335.9 481.9 624.1 668.0 626.5 574.1 527.5 473.6
Net cash (debt) −204.9 −298.1 −321.2 −468.2 −614.8 −651.3 −565.4 −555.5 −509.2 −446.5
Shareholders’ equity 76.7 109.9 176.2 276.6 383.8 586.8 731.4 719.6 687.2 670.3
Debt to equity 2.70 2.74 1.91 1.74 1.63 1.14 0.86 0.80 0.77 0.71

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
n/a n/a 7.2% 4.3% 8.6% 4.6% 5.3% n/a n/a 111.2%
Spending
n/a n/a 4.8% 4.9% 3.7% 2.8% 3.1% n/a n/a 19.3%
0.0% n/a n/a n/a n/a n/a n/a n/a n/a n/a
Returns
0.6% n/a 1.5% 0.6% 1.3% 0.6% 0.6% 2.0% 1.9% 2.0%
0.1% n/a 0.5% 0.2% 0.5% 0.3% 0.3% 1.0% 1.0% 1.1%
Balance and payout
2.70 2.74 1.91 1.74 1.63 1.14 0.86 0.80 0.77 0.71
73.7% 74.5% 68.0% 65.8% 64.0% 56.4% 49.8% 48.1% 47.6% 45.9%
1,106.0% n/a 314.7% 600.8% 244.3% 471.8% 401.3% 135.9% 151.2% 151.3%