Farmland Partners Inc. (FPI)
Farmland Partners Inc. functions as an internally managed real estate enterprise, primarily focused on acquiring and holding premium North American agricultural land. The company also provides secured loans to farmers, collateralized by their farm real estate. As of the most recent disclosure, its expansive portfolio includes approximately 155,000 acres distributed across 16 U.S. states, covering significant agricultural areas from Alabama to Virginia. This diversified land base supports nearly 26 different crop varieties and is utilized by over 100 distinct agricultural tenants. Farmland Partners Inc. chose to be taxed as a Real Estate Investment Trust (REIT) for U.S. federal income tax purposes, commencing with the fiscal year that ended December 31, 2014.
Sector: Real Estate Investment Trusts
Industry: REIT - Specialty
Farmland Partners Inc.
NYSE:FPIReal Estate · REIT - Specialty
PrePre-market-0.20%$10.23
Close$10.25+2.50%
AH Close$10.25-0.20%since
Close$10.25+2.50%AH Close$10.25-0.20%since
Mkt Cap$447.21M
Float40.19M
O/S43.63M
Inst Own54.1%
SI9.7%
Div Yield5.17%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$52.18M
Net Income$31.55M
Total Assets$719.07M
Free Cash Flow$17.43M
Debt & Equity
Debt 26%
Equity 74%
Total Debt$161.18M
Total Equity$459.35M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in FPI's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$719.07M
Liabilities$181.09M
Accounts Receivable$84.64M
Accounts Payable$0
Inventory$2.32M
PP&E (Net)$169K
Goodwill$0
Intangible Assets$0
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $52.18M | $58.23M | $57.47M | $61.21M | $51.74M | $50.69M | $53.56M | $56.07M | $46.22M | $31M | $13.76M | $4.22M | $2.35M | $2.12M |
| YoY Growth | -10.4% | 1.3% | -6.1% | 18.3% | 2.1% | -5.4% | -4.5% | 21.3% | 49.1% | 125.4% | 226.1% | 79.5% | 10.7% | - |
| Cost of Revenue | $18.6M | $11.3M | $13.41M | $14.16M | $8.86M | $10.74M | $8.82M | $7.83M | $5.9M | $2.38M | $1.1M | $249K | $27K | $186K |
| Gross Profit | $33.58M | $46.92M | $44.05M | $47.05M | $42.88M | $39.95M | $44.74M | $48.23M | $40.32M | $28.62M | $12.65M | $3.97M | $2.32M | $1.94M |
| Gross Margin | 64.4% | 80.6% | 76.7% | 76.9% | 82.9% | 78.8% | 83.5% | 86.0% | 87.2% | 92.3% | 92.0% | 94.1% | 98.9% | 91.3% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $11.72M | $15.72M | $12.55M | $14.88M | $18.38M | $9.64M | $10.07M | $9.81M | $8.71M | $8.47M | $5.28M | $2.89M | $793K | $50K |
| Other | -$1.2M | $5.69M | $7.64M | $7.2M | $7.66M | $7.97M | $8.33M | $264K | $391K | $337K | $98K | $144K | $153K | $125K |
| Total Operating Expenses | $10.53M | $21.42M | $20.2M | $22.08M | $26.04M | $17.61M | $18.4M | $18.36M | $16.86M | $10.47M | $6.18M | $3.22M | $947K | $175K |
| Operating Income (EBIT) | $23.05M | $25.5M | $23.86M | $24.97M | $16.79M | $22.33M | $26.34M | $29.69M | $22.53M | $15.63M | $6.22M | $557K | $1.38M | $1.75M |
| Operating Margin | 44.2% | 43.8% | 41.5% | 40.8% | 32.4% | 44.1% | 49.2% | 53.0% | 48.7% | 50.4% | 45.2% | 13.2% | 58.6% | 82.3% |
| Interest Expense | $9.63M | $18.85M | $22.66M | $16.14M | $15.93M | $17.68M | $19.59M | $18.8M | $13.56M | $9.96M | $4.62M | $1.37M | $1.34M | $1.16M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $9.1M | $35.93M | $7.66M | -$12.79M | $9.75M | -$14.8M | -$11.49M | -$15.65M | -$13.37M | -$9.62M | -$4.52M | -$1.23M | -$1.34M | -$1.18M |
| Income Before Tax (EBT) | $32.16M | $61.43M | $31.52M | $12.19M | $26.54M | $7.53M | $14.85M | $14.04M | $9.16M | $6.01M | $1.7M | -$671K | $34K | $586K |
| Income Tax Expense | -$15K | -$16K | -$166K | $227K | $16.28M | $0 | $0 | $0 | $0 | $11K | $10K | -$103K | $0 | $1.16M |
| Net Income | $31.55M | $59.91M | $30.91M | $11.67M | $9.99M | $7.12M | $13.89M | $12.25M | $7.91M | $4.3M | $1.23M | -$568K | $34K | $586K |
| Net Income Margin | 60.5% | 102.9% | 53.8% | 19.1% | 19.3% | 14.0% | 25.9% | 21.9% | 17.1% | 13.9% | 8.9% | -13.5% | 1.5% | 27.6% |
| Supplementary Data | ||||||||||||||
| EPS | 0.71 | 1.19 | 0.55 | 0.16 | -0.17 | -0.18 | 0.04 | 0.38 | 0.03 | 0.09 | 0.08 | -0.13 | 0.01 | 0.15 |
| Diluted EPS | 0.62 | 1.06 | 0.48 | 0.16 | -0.17 | -0.18 | 0.04 | 0.38 | 0.03 | 0.09 | 0.08 | -0.13 | 0.01 | 0.15 |
| Weighted Average OS | 44.20M | 47.55M | 50.24M | 50.95M | 34.64M | 29.38M | 30.17M | 32.16M | 31.05M | 13.20M | 9.62M | 4.25M | 4.01M | 4.01M |
| EBITDA | $45.95M | $85.88M | $61.67M | $35.29M | $24.52M | $30.31M | $42.76M | $41.38M | $30.51M | $17.52M | $7.37M | -$486K | $1.53M | $1.89M |
| EBITDA Margin | 88.1% | 147.5% | 107.3% | 57.7% | 47.4% | 59.8% | 79.8% | 73.8% | 66.0% | 56.5% | 53.6% | -11.5% | 64.9% | 88.9% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $9.29M | $78.44M | $5.49M | $7.65M | $30.17M | $27.22M | $12.56M | $16.89M | $53.54M | $47.17M | $23.51M | $33.74M | $17K | $43K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $9.29M | $78.44M | $5.49M | $7.65M | $30.17M | $27.22M | $12.56M | $16.89M | $53.54M | $47.17M | $23.51M | $33.74M | $17K | $43K |
| Accounts Receivable | $84.64M | $58.5M | $38.93M | $28.98M | $11.01M | $6.47M | $10.28M | $18.01M | $16.41M | $7.02M | $3.52M | $520K | $464K | $0 |
| Inventory | $2.32M | $2.66M | $2.33M | $2.81M | $3.06M | $1.12M | $1.55M | $341K | $126K | $283K | $249K | $0 | -$833K | $0 |
| Other Current Assets | -$4.41M | $61K | $2.31M | $33K | $3.92M | $2.89M | $3.44M | $3.64M | $3.06M | $1.06M | $765K | $0 | $0 | $0 |
| Total Current Assets | $91.84M | $139.66M | $49.49M | $39.62M | $48.22M | $37.69M | $27.83M | $38.88M | $73.37M | $61.25M | $28.04M | $34.68M | $481K | $43K |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $169K | $194K | $399K | $325K | $107K | $93K | $73K | $1.1B | $1.09B | $594.06M | $316.24M | $165.9M | $38.36M | $36.85M |
| Goodwill | $0 | $2.71M | $2.71M | $2.71M | $2.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $1.37M | $2.04M | $2.06M | $1.92M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $620.65M | $4.1M | $4.14M | $4.18M | $3.43M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | -$3.2M | $1.12B | $0 | $0 | $1.14B | $1.17B | $655.53M | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | -$620.65M | $720.52M | $963.24M | $1.11B | -$56.38M | $1.05B | $1.07B | -$1.14B | -$1.17B | -$655.31M | $675K | $447K | $833K | $16K |
| Total Long-Term Assets | $169K | $728.89M | $972.51M | $1.12B | $1.07B | $1.05B | $1.07B | $1.1B | $1.09B | $594.28M | $316.91M | $166.35M | $39.19M | $36.87M |
| Other Assets | $627.05M | $0 | $0 | $3.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $719.07M | $868.56M | $1.02B | $1.16B | $1.12B | $1.09B | $1.1B | $1.14B | $1.17B | $655.53M | $344.95M | $201.02M | $39.67M | $36.91M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $785K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $1.65M | $1.9M | $2.01M | $1.76M | $1.82M | $1.87M | $1.67M | $1.58M | $1.23M | $765K | $241K | $0 | $148K |
| Current Unearned Revenue | $1.24M | $65K | $2.15M | $44K | $45K | $37K | $71K | $238K | $3.91M | $982K | $4.85M | $1.36M | $0 | $0 |
| Other Current Liabilities | -$19.91M | $0 | $0 | $0 | -$785K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Liabilities | $171K | $68.13M | $29.93M | $18.73M | $16.72M | $15.18M | $12.52M | $11.46M | $16.33M | $11.24M | $9.65M | $3.62M | $1.33M | $382K |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $161.01M | $203.68M | $360.86M | $436.88M | $511.32M | $506.63M | $511.4M | $523.64M | $514.07M | $308.78M | $187.07M | $113.51M | $43.07M | $36.2M |
| Long-Term Unearned Revenue | $1.24M | $0 | $0 | $44K | $45K | $37K | $71K | $238K | $3.91M | $982K | $4.85M | $1.36M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | -$18.73M | $107K | $0 | $0 | -$120.75M | -$124.42M | -$982K | -$4.85M | -$116.13B | $0 | $0 |
| Other Long-Term Liabilities | $18.67M | $0 | $0 | $18.37M | $740K | $2.86M | $122.08M | $627K | -$3.91M | $118.93M | $9.69M | $116.02M | $0 | $0 |
| Total Long-Term Liabilities | $181.09M | $203.88M | $361.26M | $437.2M | $512.22M | $509.62M | $633.63M | $524.51M | $514.07M | $428.69M | $196.77M | $113.88M | $43.07M | $36.2M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $181.09M | $272M | $391.19M | $455.94M | $528.94M | $524.8M | $646.15M | $535.97M | $530.4M | $439.94M | $206.42M | $117.5M | $44.39M | $36.58M |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $26K | $139.77M | $142.86M | $143.76M | $144.22M | $0 | $0 | $2.7M | $0 | $0 |
| Common Stock | $431K | $459K | $466K | $531K | $444K | $297K | $292K | $300K | $329K | $172K | $118K | $75K | $0 | $333K |
| Retained Earnings | -$62.33M | -$72.05M | -$64.53M | -$70.4M | -$66.62M | -$53.71M | -$42.53M | -$37.84M | -$26.04M | $4.1M | -$6.53M | -$2.7M | $0 | $0 |
| Comprehensive Income & Other | $0 | $1.51M | $0 | $3.31M | $279K | -$2.38M | -$1.64M | -$865K | $635.68M | $335.51M | -$6.53M | -$2.7M | -$450K | $0 |
| Other Stockholders' Equity | $521.25M | $553.51M | $579.94M | $650.65M | $524.49M | $483.26M | $479.6M | $475.89M | $494.37M | $157.63M | $114.78M | $68.98M | -$4.72M | $0 |
| Total Equity | $459.35M | $481.91M | $515.88M | $580.79M | $458.31M | $429.84M | $437.36M | $438.35M | $468.66M | $161.9M | $108.37M | $66.36M | -$4.72M | $333K |
| Minority Interest | $78.62M | $114.65M | $114.93M | $123.43M | $134.27M | $136.35M | $19.04M | $165.19M | $167.02M | $53.69M | $30.16M | $17.17M | $0 | $0 |
| Total Liabilities and Equity | $640.45M | $753.91M | $907.07M | $1.04B | $987.25M | $954.64M | $1.08B | $974.31M | $999.06M | $601.84M | $314.79M | $183.85M | $39.67M | $36.91M |
| Supplementary Data | ||||||||||||||
| Total Debt | $161.18M | $203.88M | $361.26M | $437.2M | $511.43M | $506.72M | $511.48M | $523.64M | $514.07M | $308.78M | $187.07M | $113.88M | $43.07M | $36.2M |
| Net Debt | $151.89M | $125.44M | $355.77M | $429.55M | $481.26M | $479.5M | $498.92M | $506.75M | $460.54M | $261.61M | $163.56M | $80.14M | $43.05M | $36.16M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | ||||||||||||||
| Net Income | $31.55M | $61.45M | $30.76M | $11.61M | $10.26M | $7.53M | $14.85M | $14.04M | $9.16M | $6M | $1.69M | -$671K | $34K | $586K |
| Depreciation & Amortization | $4.17M | $5.59M | $7.5M | $6.96M | $7.63M | $7.97M | $8.32M | $8.54M | $7.79M | $1.55M | $893K | $329K | $149K | $125K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.54M | $500K | $1.56M | $13.25M | -$138.03M | $0 | $0 |
| Stock-Based Compensation | $2.16M | $2.35M | $1.85M | $1.94M | $1.26M | $1.06M | $1.43M | $1.65M | $1.39M | $1.22M | $942K | $681K | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | -$69K | $2.86M | $802K | -$2.45M | -$1.07M | $1.26M | $454K | -$422K | -$1.1M | -$3.48M | -$77K | -$459K | -$464K | $32K |
| Inventory | $343K | -$324K | $473K | $251K | -$1.72M | $433K | -$1.26M | -$216K | $257K | -$34K | -$249K | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.95M | -$15.11M | $3.44M | $1.09M | $0 | $0 | $0 |
| Other Working Capital | -$2.43M | -$2.33M | -$86K | $19K | -$1.02M | $2.57M | $1.19M | -$3.88M | -$2.16M | -$3.83M | $3.45M | $1.76M | $247K | $4K |
| Total Working Capital Change | -$2.16M | $213K | $1.19M | -$2.18M | -$3.81M | $4.27M | $375K | -$2.57M | -$18.12M | -$3.9M | $4.21M | $1.3M | -$217K | $36K |
| Other Non-Cash Items | -$18.29M | -$53.45M | -$28.41M | $664K | -$7.49M | -$1.1M | -$6.98M | -$8.2M | $211K | -$1.4M | -$13.29M | $138.18M | $58K | $153K |
| Net Cash from Operating | $17.43M | $16.14M | $12.89M | $17.05M | $7.86M | $19.73M | $17.99M | $20M | $929K | $5.04M | $7.69M | $1.78M | $24K | $775K |
| Investing Activities | ||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$4.25M | $0 | $0 | $0 | -$12.79M | -$21.58M | -$131.78M | $0 | -$46K | -$502K | -$439K |
| Acquisitions | $0 | $0 | $0 | -$75K | -$1.85M | $0 | $0 | $0 | $0 | $0 | $0 | -$125.83B | -$1.15M | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$75.92M | $0 | $0 | $0 | -$39.82M | -$212.74M | -$5.67M | -$10.4M | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $19.84M | $0 | $0 | $0 | $36.74M | $0 | $50K | $0 | $0 | $0 | $0 |
| Other Investing Activities | $63.4M | $268.75M | $158.46M | -$59.69M | -$16.92M | $18.67M | $31.05M | -$15.86M | -$234.11M | -$137.4M | -$119.69M | $125.7B | -$1.15M | -$3.81M |
| Net Cash from Investing | $63.4M | $268.75M | $158.46M | -$60.4M | -$18.77M | $18.67M | $31.05M | -$15.86M | -$234.11M | -$137.4M | -$119.69M | -$126.3M | -$1.65M | -$4.25M |
| Financing Activities | ||||||||||||||
| Debt Repaid | $42.98M | $158.52M | $76.39M | $74.99M | -$5.2M | $4.67M | $11.38M | -$9.49M | -$130.97M | -$122.64M | -$73.65M | -$68.79M | -$6.87M | -$2.01M |
| Common Stock Issuance | $0 | $34K | $155K | $59K | $27.16M | $10M | $0 | $0 | $0 | $44.39M | $35.11M | $93.62M | $1K | $0 |
| Common Stock Repurchases | -$38.14M | -$27.53M | -$72.65M | -$10.16M | $0 | -$9.91M | -$22.9M | -$20.6M | -$10M | $0 | -$21K | -$1K | $0 | $0 |
| Dividends Paid | -$63.74M | -$21.63M | -$12.27M | -$11.13M | -$6.36M | -$5.94M | -$6.18M | -$23.49M | -$18.03M | -$6.6M | -$4.43M | -$1.66M | -$6.76M | -$2.97M |
| Other Financing Activities | -$5.11M | -$1.32M | -$1.09M | -$762K | -$1.43M | -$882K | -$430K | -$2.01M | -$5M | -$4.42M | -$2.54M | -$2.52M | $1.5M | $4.46M |
| Net Cash from Financing | -$149.97M | -$211.94M | -$173.51M | $20.83M | $13.87M | -$23.74M | -$53.38M | -$40.78M | $239.55M | $156.01M | $101.77M | $158.23M | $1.6M | $3.5M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$69.15M | $72.95M | -$2.17M | -$22.52M | $2.95M | $14.66M | -$4.33M | -$36.65M | $6.37M | $23.65M | -$10.22M | $33.72M | -$26K | $19K |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | $17.43M | $16.14M | $12.89M | $17.05M | $7.86M | $19.73M | $17.99M | $20M | $929K | $5.04M | $7.69M | $1.78M | $24K | $775K |
| Capital Expenditure | $0 | $0 | $0 | -$4.25M | $0 | $0 | $0 | -$12.79M | -$21.58M | -$131.78M | $0 | -$46K | -$502K | -$439K |
| Free Cash Flow | $17.43M | $16.14M | $12.89M | $12.8M | $7.86M | $19.73M | $17.99M | $7.22M | -$20.65M | -$126.73M | $7.69M | $1.74M | -$479K | $336K |
| Cash at Beginning | $78.44M | $5.49M | $7.65M | $30.17M | $27.22M | $12.56M | $16.89M | $53.54M | $47.17M | $23.51M | $33.74M | $18K | $43K | $24K |
| Cash at End | $9.29M | $78.44M | $5.49M | $7.65M | $30.17M | $27.22M | $12.56M | $16.89M | $53.54M | $47.17M | $23.51M | $33.74M | $17K | $43K |