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
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
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%
—
—
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$10M
-$15M
0.0%
0.0%
-3.6%
-2.3%
—
$240M
$8M
Jun '26
$9M
$3M
0.0%
0.0%
0.7%
0.4%
—
$225M
$11M
Mar '26
$10M
$640000
0.0%
0.0%
0.1%
0.1%
—
$233M
$18M
Dec '25
$21M
$21M
0.0%
0.0%
4.6%
3.0%
—
$162M
$9M
Sep '25
$11M
$483000
0.0%
0.0%
0.1%
0.1%
—
$170M
$13M
Jun '25
$10M
$8M
0.0%
0.0%
1.6%
1.0%
—
$193M
$51M
Mar '25
$10M
$2M
0.0%
0.0%
0.4%
0.3%
—
$203M
$22M
Dec '24
$21M
$59M
0.0%
0.0%
11.9%
6.8%
—
$205M
$78M
Sep '24
$13M
$2M
0.0%
0.0%
0.3%
0.2%
—
$394M
$8M
Jun '24
$11M
-$2M
0.0%
0.0%
-0.4%
-0.2%
—
$393M
$6M
Mar '24
$12M
$1M
0.0%
0.0%
0.3%
0.1%
—
$383M
$6M
Dec '23
$22M
$17M
0.0%
0.0%
3.3%
1.7%
—
$363M
$5M
Sep '23
$12M
$4M
0.0%
0.1%
0.8%
0.4%
—
$423M
$6M
Jun '23
$12M
$8M
0.0%
23.8%
1.4%
0.7%
—
$474M
$11M
Mar '23
$13M
$2M
0.0%
38.2%
0.3%
0.1%
—
$444M
$12M
Dec '22
$22M
$7M
0.0%
57.2%
1.1%
0.6%
—
$439M
$8M
Sep '22
$13M
$1M
0.0%
36.0%
0.2%
0.1%
—
$410M
$9M
Jun '22
$12M
$3M
0.0%
28.0%
0.5%
0.3%
—
$426M
$20M
Mar '22
$14M
$1M
0.0%
31.1%
0.2%
0.1%
—
$465M
$16M
Dec '21
$20M
$13M
0.0%
56.5%
2.7%
1.2%
—
$513M
$30M
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.
The price-to-earnings ratio has fallen from 38.5× (Mar '23) to 12.0× (Nov '26).
The price-to-sales ratio has fallen from 7.3× (Mar '23) to 7.2× (Nov '26).
The dividend yield has risen from 2.5% (Mar '23) to 16.9% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
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.