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FPI Financials Farmland Partners Inc.

14 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 0.6% per year over the past 5 years.
  • Net income has grown faster than revenue (34.7% vs 0.6% per year).

Financial health

  • Total debt ($162M) exceeds cash ($9M); net debt is $152M.
  • Total debt has grown slower than revenue (-20.5% vs 0.6% per year).

Shareholder returns

  • Dividends have been paid for 12 consecutive years, consuming 202.1% of earnings.
  • The dividend has grown 60.7% per year over the past 5 years.
Revenue & net income
-$568000 $30M $61M $0 2012 2014 2016 2018 2020 2022 2024
RevenueNet income
Margins (gross / operating / net)
0% 51% 103% 2012 2014 2016 2018 2020 2022 2024
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-1% 88% 176% 0% 2012 2014 2016 2018 2020 2022 2024
ROEROA
Free cash flow (CFO − capex)
$0 $1 $1 2012 2014 2016 2018 2020 2022 2024
Free cash flow
Cash vs total debt
$0 $263M $525M 2012 2014 2016 2018 2020 2022 2024
CashTotal debt
Cash flow: operating / investing / financing
-$234M $17M $269M $0 2012 2014 2016 2018 2020 2022 2024
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $52M $32M 0.0% 0.0% 6.7% 4.4% — $162M $9M
2024 $58M $60M 0.0% 0.0% 12.1% 6.9% — $205M $78M
2023 $57M $31M 0.0% 0.0% 5.8% 3.0% — $363M $5M
2022 $61M $12M 0.0% 40.8% 2.0% 1.0% — $439M $8M
2021 $52M $10M 0.0% 32.5% 2.1% 0.9% — $513M $30M
2020 $51M $7M 0.0% 44.1% 2.3% 0.7% — $508M $27M
2019 $54M $14M 0.0% 49.2% 4.4% 1.3% — $513M $13M
2018 $56M $12M 0.0% 53.0% 3.6% 1.1% — $525M $17M
2017 $46M $8M 0.0% 48.7% 2.1% 0.7% — $516M —
2016 $31M $4M 0.0% 50.4% 2.0% 0.7% — $310M —
2015 — $1M — — 0.9% 0.4% — $187M —
2014 — -$568000 — — -0.7% -0.3% — $114M —
2013 — $34172 — — -0.7% 0.1% — — —
2012 — $586352 — — 175.9% — — — —

Valuation over time

How the market has priced FPI against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 22.4 44.8 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 5.2 10.5 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S
Dividend yield (%)
0.0 9.0 18.0 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
Dividend yield %

Frequently asked questions

Is FPI growing its revenue and profit?

Over the past 5 years, Farmland Partners Inc.'s revenue has grown 0.6% per year, and net income grown 34.7% per year. These are computed facts, not advice.

How much debt does FPI have?

As of FY2025, Farmland Partners Inc. reported $162M of total debt against $9M of cash.

What is FPI's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin 60.5%.

What is FPI's P/E ratio?

Farmland Partners Inc.'s P/E (TTM) is 38.61 as of the 2026-11-04 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the FPI stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 12.0× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.