GLADSTONE LAND Corp (LANDP)
Gladstone Land Corporation, established in 1997, functions as a publicly traded Real Estate Investment Trust (REIT) primarily focused on acquiring and managing agricultural properties and related infrastructure within key U.S. farming regions. These holdings are subsequently leased out to independent third-party farmers. The company's substantial portfolio, whose fair market value is reported quarterly, currently stands at approximately $1.6 billion. It encompasses 169 farms, spanning roughly 116,000 acres across 15 states, along with over 45,000 acre-feet of banked water rights in California. A significant portion of Gladstone Land's properties are ideally suited for growing annual row crops, such as berries and various vegetables, which its tenant farmers typically plant and harvest each year. Additionally, the REIT holds land dedicated to permanent crops, including diverse orchards (e.g., almonds, apples, cherries, figs, lemons, olives, pistachios), blueberry groves, and vineyards. While these types of crops are generally planted for a duration exceeding two decades, they consistently yield annual harvests. Demonstrating a commitment to sustainable agriculture, about 40% of its fresh produce acreage is either certified organic or transitioning to organic status, a category that also includes over 10% of its permanent crop holdings. Beyond primary farmland, the company strategically invests in related agricultural support facilities, such as cooling, processing, packaging, and distribution centers. Gladstone Land consistently provides monthly cash distributions to its shareholders, maintaining an impressive record of 129 consecutive payouts on its common stock since its initial public offering in January 2013. Furthermore, these common distributions have been raised 32 times over the past 35 quarters, with the current per-share payout amounting to $0.0464 monthly, or $0.5568 annually.
Sector: Real Estate Investment Trusts
Industry: REIT - Specialty
Gladstone Land Corporation
PrePre-market+0.02%$18.82
Close$18.820.00%AH$18.82+0.02%Now$18.82
Close$18.82-1.10%AH$18.82+0.02%since
Mkt Cap$811.83M
Float9.59M
O/S43.14M
Inst Own-
SI0.1%
Div Yield7.97%
Dilution
Financials Summary
Revenue$88.34M
Net Income$13.53M
Total Assets$1.24B
Free Cash Flow-$168K
Debt & Equity
Debt 45%
Equity 55%
Preferred 0%
Total Debt$537.91M
Total Equity$670.29M
Preferred Stock$16K
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in LANDP's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.24B
Liabilities$568.89M
Accounts Receivable$0
Accounts Payable$0
Inventory$1.66M
PP&E (Net)$0
Goodwill$0
Intangible Assets$3.13M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 |
| Revenue | $88.34M | $85.22M | $90.4M | $89.24M | $75.32M | $57.03M | $40.69M | $36.69M | $25.12M | $17.32M | $11.9M | $7.18M | $4.04M | $3.39M | $2.96M | $2.42M |
| YoY Growth | 3.7% | -5.7% | 1.3% | 18.5% | 32.1% | 40.2% | 10.9% | 46.0% | 45.1% | 45.5% | 65.6% | 77.9% | 19.1% | 14.4% | 22.6% | - |
| Cost of Revenue | $93.39M | $5.33M | $4.2M | $2.82M | $2.54M | $1.85M | $2.47M | $2.04M | $1.17M | $670K | $729K | $435K | $119K | $89K | $62K | $8K |
| Gross Profit | -$5.05M | $79.88M | $86.2M | $86.42M | $72.78M | $55.18M | $38.22M | $34.64M | $23.96M | $16.65M | $11.17M | $6.75M | $3.92M | $3.3M | $2.9M | $2.41M |
| Gross Margin | -5.7% | 93.7% | 95.4% | 96.8% | 96.6% | 96.8% | 93.9% | 94.4% | 95.4% | 96.1% | 93.9% | 94.0% | 97.0% | 97.4% | 97.9% | 99.7% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $4.96M | $13.34M | $13.78M | $13.05M | $9.99M | $7.84M | $5.28M | $5.48M | $4.53M | $3.81M | $3.02M | $2.89M | $1.64M | $772K | $1.05M | $529K |
| Other | -$34M | $35.16M | $38.93M | $38.59M | $31.08M | $19.69M | $13.64M | -$1.46M | -$1.63M | -$568K | $49K | $35K | $722K | $4K | $8K | $10K |
| Total Operating Expenses | -$29.04M | $48.5M | $52.71M | $51.64M | $41.08M | $27.53M | $18.91M | $22.53M | $12.45M | $9.34M | $6.14M | $4.63M | $2.41M | $1.25M | $1.56M | $846K |
| Operating Income (EBIT) | $23.99M | $31.38M | $33.48M | $34.77M | $31.7M | $27.65M | $19.31M | $12.11M | $11.38M | $7.06M | $4.57M | $1.6M | $1.36M | $1.9M | $1.28M | $1.56M |
| Operating Margin | 27.2% | 36.8% | 37.0% | 39.0% | 42.1% | 48.5% | 47.4% | 33.0% | 45.3% | 40.8% | 38.4% | 22.3% | 33.6% | 56.1% | 43.3% | 64.7% |
| Interest Expense | $23.04M | $21.89M | $23.66M | $25.74M | $27.95M | $0 | $16.33M | $12.13M | $9.76M | $6.02M | $4.16M | $2.01M | $1.12M | $1.01M | $806K | $701K |
| Interest Income | $0 | $0 | $0 | $0 | $2.2M | $1.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $3K | $3K |
| Other Income (Expense) | -$10.46M | -$18.09M | -$18.92M | -$30.06M | -$28.19M | -$22.7M | -$17.54M | -$8.25M | -$11.41M | -$6.58M | -$4M | -$1.7M | -$1.06M | -$1M | -$1.27M | -$687K |
| Income Before Tax (EBT) | $13.53M | $13.29M | $14.56M | $4.72M | $3.51M | $4.96M | $1.76M | $2.77M | -$34K | $473K | $569K | -$99K | $295K | $901K | $14K | $877K |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.78M | $0 | $25K | $471K | $27K | $1.52M | $300K | $8K | $317K |
| Net Income | $13.53M | $13.29M | $14.56M | $4.71M | $3.5M | $4.93M | $1.74M | $2.63M | -$31K | $448K | $569K | -$125K | -$1.22M | $600K | $6K | $561K |
| Net Income Margin | 15.3% | 15.6% | 16.1% | 5.3% | 4.6% | 8.6% | 4.3% | 7.2% | -0.1% | 2.6% | 4.8% | -1.7% | -30.3% | 17.7% | 0.2% | 23.2% |
| Supplementary Data | ||||||||||||||||
| EPS | -0.29 | -0.29 | -0.28 | -0.43 | -0.29 | -0.20 | -0.13 | 0.17 | -0.00 | 0.04 | 0.07 | -0.02 | -0.20 | 0.10 | 0.00 | 0.20 |
| Diluted EPS | -0.29 | -0.29 | -0.28 | -0.43 | -0.29 | -0.20 | -0.13 | 0.17 | -0.00 | 0.04 | 0.07 | -0.02 | -0.20 | 0.10 | 0.00 | 0.20 |
| Weighted Average OS | 36.51M | 35.91M | 35.73M | 34.56M | 30.36M | 22.26M | 19.60M | 15.50M | 12.06M | 10.01M | 8.64M | 6.85M | 6.21M | 6.08M | 2.75M | 2.75M |
| EBITDA | $71.12M | $70.29M | $75.48M | $65.91M | $55.7M | $42.28M | $30.88M | $24.27M | $16.96M | $12.24M | $7.84M | $3.65M | $2.08M | $1.37M | $983K | $1.18M |
| EBITDA Margin | 80.5% | 82.5% | 83.5% | 73.9% | 74.0% | 74.1% | 75.9% | 66.2% | 67.5% | 70.7% | 65.9% | 50.7% | 51.5% | 40.5% | 33.2% | 48.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 |
| Assets | ||||||||||||||||
| Current Assets | ||||||||||||||||
| Cash and Cash Equivalents | $27.18M | $18.27M | $18.57M | $61.14M | $16.71M | $9.22M | $13.69M | $14.73M | $2.94M | $2.44M | $2.53M | $2.62M | $16.27M | $873K | $2M | $1.97M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $681K | $680K | $0 | $0 | $0 |
| Cash and Short-Term Investments | $27.18M | $18.27M | $18.57M | $61.14M | $16.71M | $9.22M | $13.69M | $14.73M | $2.94M | $2.44M | $2.53M | $3.3M | $16.95M | $873K | $2M | $1.97M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.66M | $46.31M | $53.63M | $0 | $0 | $0 | $0 | $0 | $1.53M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $133K | $0 | $0 | $0 | $8.37M |
| Total Current Assets | $28.84M | $64.59M | $72.2M | $61.14M | $16.71M | $9.22M | $13.69M | $14.73M | $4.47M | $2.44M | $2.53M | $3.43M | $16.95M | $873K | $2M | $10.34M |
| Long-Term Assets | ||||||||||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $34.67M | $136K | $0 | $538.95M | $449.49M | $326.31M | $221.78M | $143.94M | $75.31M | $37.14M | $30.28M | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $3.13M | $3.59M | $4.78M | $5.7M | $4.46M | $3.73M | $4.83M | $5.69M | $5.49M | $2M | $1.76M | $1.32M | $311K | $208K | $50K | $0 |
| Long-Term Investments | $1.15B | $0 | $0 | $0 | $3.1M | $1.2M | $0 | -$565.12M | -$462.28M | -$333.99M | $0 | $0 | $680K | $680K | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | -$37.77M | -$1.34M | $0 | $565.12M | $462.28M | $333.99M | $0 | $0 | -$75.99M | -$37.82M | $0 | $0 |
| Other Long-Term Assets | -$1.15B | $1.24B | $1.31B | $1.39B | $1.33B | $1.05B | $798.27M | $5.75M | $2.83M | $3.24M | $3.66M | $3.01M | $76.41M | $39.42M | $438K | $18.7M |
| Total Long-Term Assets | $3.13M | $1.25B | $1.32B | $1.4B | $1.33B | $1.06B | $803.1M | $550.39M | $457.81M | $331.55M | $227.21M | $148.27M | $76.72M | $39.63M | $30.76M | $18.7M |
| Other Assets | $1.21B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.24B | $1.31B | $1.39B | $1.46B | $1.35B | $1.07B | $816.79M | $565.12M | $462.28M | $333.99M | $229.74M | $151.7M | $93.67M | $40.5M | $32.77M | $29.03M |
| Liabilities | ||||||||||||||||
| Current Liabilities | ||||||||||||||||
| Accounts Payable | $0 | $18.4M | $10.3M | $16.27M | $10.87M | $9.08M | $10.13M | $9.15M | $7.4M | $2.8M | $3.5M | $1.93M | $1.1M | $914K | $410K | $323K |
| Short-Term Debt | $17.25M | $3.6M | $200K | $100K | $100K | $100K | $100K | $100K | $10M | $16.55M | $100K | $4M | $100K | $100K | $917K | $3.01M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $100K | $10M | $16.55M | $100K | $4M | $100K | $100K | $1.21M | $3.01M |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $845K | $940K | $751K | -$3.5M | -$1.93M | -$1.1M | $0 | $288K | $0 |
| Total Current Liabilities | $17.25M | $24.98M | $14.37M | $20.74M | $15.2M | $11.66M | $12.4M | $10.2M | $18.34M | $20.1M | $4.16M | $6.4M | $1.36M | $1.12M | $1.67M | $3.39M |
| Long-Term Liabilities | ||||||||||||||||
| Long-Term Debt | $518.72M | $523.92M | $573.91M | $626.4M | $667.88M | $623.96M | $481.83M | $335.79M | $291M | $190.8M | $142.63M | $82.42M | $43.05M | $30.72M | $23.22M | $16.75M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $384.07M | $344.33M | $246.21M | $0 | $0 | $0 | $0 | $0 | -$17.1M |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $715K | $698K | $724K | $0 | $0 | $0 | $259K | $175K | $349K |
| Other Long-Term Liabilities | $30.98M | $76.11M | $79.43M | $78.75M | $79.4M | $47.87M | $43.59M | $38.18M | $34.99M | $35.31M | $9M | $5.32M | $2.01M | $1.29M | $172K | $0 |
| Total Long-Term Liabilities | $551.64M | $600.04M | $653.34M | $705.15M | $747.29M | $671.83M | $525.42M | $373.87M | $325.99M | $226.11M | $147.57M | $85.34M | $43.8M | $31.25M | $23.56M | $17.1M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $568.89M | $625.01M | $667.71M | $725.89M | $762.48M | $683.5M | $537.82M | $384.07M | $344.33M | $246.21M | $151.73M | $91.73M | $45.16M | $32.36M | $25.23M | $20.49M |
| Stockholders' Equity | ||||||||||||||||
| Preferred Stock | $16K | $16K | $16K | $16K | $9K | $7K | $5K | $1K | $27.89M | $27.66M | $8.9M | $5.4M | $2.82M | $0 | $0 | $0 |
| Common Stock | $38K | $36K | $36K | $35K | $34K | $26K | $21K | $18K | $14K | $10K | $10K | $8K | $7K | $3K | $3K | $3K |
| Retained Earnings | -$205.51M | -$174.56M | -$144.01M | -$114.37M | -$80.47M | -$55.21M | -$38.78M | -$25.83M | -$19.8M | -$13.4M | -$8.9M | -$5.4M | -$2.82M | $8.13M | $7.53M | $8.54M |
| Comprehensive Income & Other | $4.9M | $7.63M | $7.37M | $9.01M | -$1.04M | -$1.5M | -$390K | -$25.83M | -$27.89M | -$27.66M | -$8.9M | -$5.4M | -$2.82M | $0 | -$2.12M | $0 |
| Other Stockholders' Equity | $875.76M | $861.71M | $863.59M | $845.7M | $667.25M | $438.98M | $315.38M | $202.05M | $129.71M | $90.08M | $86.89M | $65.37M | $51.33M | $0 | $0 | $0 |
| Total Equity | $670.29M | $687.18M | $719.61M | $731.36M | $586.82M | $383.79M | $276.62M | $176.25M | $109.92M | $76.69M | $78.01M | $59.97M | $48.51M | $8.14M | $7.54M | $8.55M |
| Minority Interest | $0 | $0 | $0 | $0 | $2.25M | $0 | $2.35M | $4.81M | $8.03M | $11.09M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.24B | $1.31B | $1.39B | $1.46B | $1.35B | $1.07B | $814.44M | $560.31M | $454.24M | $322.9M | $229.74M | $151.7M | $93.67M | $40.5M | $32.77M | $29.03M |
| Supplementary Data | ||||||||||||||||
| Total Debt | $537.91M | $527.52M | $574.11M | $626.5M | $667.98M | $624.06M | $481.93M | $335.89M | $301M | $207.35M | $142.73M | $86.42M | $43.15M | $30.82M | $24.13M | $19.76M |
| Net Debt | $510.73M | $509.25M | $555.54M | $565.36M | $651.27M | $614.84M | $468.24M | $321.16M | $298.06M | $204.91M | $140.2M | $83.8M | $26.88M | $29.94M | $22.13M | $17.78M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 |
| Operating Activities | ||||||||||||||||
| Net Income | $13.53M | $13.29M | $14.56M | $4.72M | $3.51M | $4.96M | $1.76M | $2.77M | -$34K | $473K | $569K | -$125K | -$1.22M | $600K | $6K | $561K |
| Depreciation & Amortization | $34.55M | $35.11M | $37.25M | $35.46M | $27.3M | $16.7M | $12.79M | $9.38M | $7.24M | $5.19M | $3.11M | $1.74M | $722K | $474K | $506K | $317K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$744K | $84K | -$174K | $14K |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$1.05M | $0 | $0 | $0 | $0 | $0 | -$896K | -$3.15M | -$1.9M | -$322K | -$124K | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$13.85M | $0 | $0 | $0 | $0 | $0 | $0 | $1.94M | $1.92M | $720K | $524K | $1.18M | $250K | $235K | $0 | $0 |
| Other Working Capital | -$29.23M | -$18.83M | -$9.35M | -$1.76M | -$1.58M | $673K | $7.09M | $3.38M | -$1.12M | $1.89M | $719K | $1.07M | $574K | -$270K | $1.06M | -$237K |
| Total Working Capital Change | -$44.13M | -$18.83M | -$9.35M | -$1.76M | -$1.58M | $673K | $6.19M | $2.17M | -$1.1M | $2.61M | $1.24M | $2.25M | $824K | -$34K | $1.06M | -$237K |
| Other Non-Cash Items | $3.05M | -$19K | -$2.38M | $5.37M | $3.13M | $2.67M | $625K | -$3.91M | $417K | $134K | -$171K | -$314K | -$39K | $14K | $26K | $10K |
| Net Cash from Operating | $6.99M | $29.55M | $40.08M | $43.79M | $32.38M | $25M | $21.37M | $10.41M | $6.51M | $8.4M | $4.75M | $3.54M | -$460K | $1.14M | $1.9M | $665K |
| Investing Activities | ||||||||||||||||
| Capital Expenditures | -$7.16M | -$5.2M | -$12.8M | -$20.13M | -$6.12M | -$16.51M | -$12.29M | -$22.61M | -$5.21M | -$9.8M | -$3.25M | -$2.62M | -$812K | $0 | $0 | $0 |
| Acquisitions | -$68K | $0 | $0 | -$2.75M | -$2.05M | -$573K | -$587K | $0 | $0 | -$500K | -$50K | -$350K | -$200K | -$150K | -$50K | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$71.44M | -$127.83M | -$85.56M | -$74.45M | $0 | -$19.99M | -$680K | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $132K | $682K | $156K | $0 | $0 | $812K | $0 | $0 | $0 |
| Other Investing Activities | $91.3M | $68.5M | $9.04M | -$62.61M | -$286.83M | -$255.82M | -$249.77M | -$71.2M | -$125.12M | -$85.2M | -$75.18M | -$68.37M | -$18.53M | -$7.3M | -$4.7M | -$8.42M |
| Net Cash from Investing | $84.07M | $63.31M | -$3.77M | -$85.48M | -$295M | -$272.9M | -$262.65M | -$93.81M | -$129.65M | -$95.5M | -$78.48M | -$71.33M | -$38.73M | -$8.13M | -$4.75M | -$8.42M |
| Financing Activities | ||||||||||||||||
| Debt Repaid | $54.36M | $47.12M | $52.91M | $41.72M | -$43.98M | -$142.64M | -$146.82M | -$45.14M | -$100.78M | -$49.58M | -$60.22M | -$39.36M | -$12.34M | -$7.79M | -$5.75M | -$5.07M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $360K | $23.13M | $15.02M | $56.7M | $0 | $0 | $0 |
| Common Stock Repurchases | -$102K | $0 | $0 | -$7.67M | $0 | $0 | $0 | -$523K | -$2.57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$20.47M | -$20.09M | -$19.79M | -$18.89M | -$16.49M | -$12.03M | -$10.46M | -$8.27M | -$6.37M | -$4.96M | -$4.06M | -$2.46M | -$7.58M | $0 | -$1.02M | $0 |
| Other Financing Activities | -$192K | -$154K | -$955K | -$14.73M | -$9.47M | -$7.86M | -$10.5M | $68.61M | $35.77M | -$3.18M | -$5.81M | -$1.69M | -$4.72M | -$824K | -$49K | -$152K |
| Net Cash from Financing | -$82.16M | -$93.15M | -$78.88M | $86.13M | $270.11M | $243.43M | $240.24M | $95.19M | $123.63M | $87M | $73.63M | $54.14M | $54.59M | $5.86M | $2.89M | $7.92M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $8.9M | -$296K | -$42.57M | $44.43M | $7.49M | -$4.47M | -$1.04M | $11.79M | $500K | -$95K | -$87K | -$13.65M | $15.4M | -$1.13M | $33K | $164K |
| Supplementary Data | ||||||||||||||||
| Operating Cash Flow | $6.99M | $29.55M | $40.08M | $43.79M | $32.38M | $25M | $21.37M | $10.41M | $6.51M | $8.4M | $4.75M | $3.54M | -$460K | $1.14M | $1.9M | $665K |
| Capital Expenditure | -$7.16M | -$5.2M | -$12.8M | -$20.13M | -$6.12M | -$16.51M | -$12.29M | -$22.61M | -$5.21M | -$9.8M | -$3.25M | -$2.62M | -$812K | $0 | $0 | $0 |
| Free Cash Flow | -$168K | $24.35M | $27.28M | $23.66M | $26.26M | $8.49M | $9.08M | -$12.2M | $1.3M | -$1.39M | $1.51M | $925K | -$1.27M | $1.14M | $1.9M | $665K |
| Cash at Beginning | $18.27M | $18.57M | $61.14M | $16.71M | $9.22M | $13.69M | $14.73M | $2.94M | $2.44M | $2.53M | $2.62M | $16.27M | $873K | $2M | $1.97M | $1.81M |
| Cash at End | $27.18M | $18.27M | $18.57M | $61.14M | $16.71M | $9.22M | $13.69M | $14.73M | $2.94M | $2.44M | $2.53M | $2.62M | $16.27M | $873K | $2M | $1.97M |