MARKETS / NYSE / FPI

NYSE · REAL ESTATE INVESTMENT TRUSTS · SMALL CAP

Farmland Partners Inc. FPI

14 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$52.2M

▼ 10.4% YoY

Net income

$31.5M

▼ 47.3% YoY

Free cash flow

$10.1M

In brief

What this company does

FPI elected to be taxed as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with its short taxable year ended December 31, 2014. As of December 31, 2025, FPI owned farms with an aggregate of approximately 71,600 acres in Arkansas, California, Colorado, Illinois, Indiana, Louisiana, Missouri, Nebraska, South Carolina, Texas and West Virginia. As of December 31, 2025, FPI also owned land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro Ohio, LLC (“Ag Pro”) under the John Deere brand. FPI strategically seeks opportunities to generate incremental revenues with environmentally friendly usage of its farmland. At December 31, 2025, FPI had 12 employees, 11 of which are full time employees.

Written from the business description in Farmland Partners Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 52.2M

Revenue, FY2025 · full 14-year series below

Revenue $M Net income $M

FY2025 · Revenue 52.2 · Net income 31.5

Compound annual growth

Revenue

−5.2%

+0.6%

+14.3%

Net income

+39.3%

+34.7%

+38.4%

EPS, diluted

+56.2%

Dividend / share

+24.1%

Returned to shareholders

+109.0%

+76.4%

+36.7%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +0.6% a year over five years — but profit grew faster: net income at +34.7%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

62 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 61.6% · Net 61.7%

ROE

Not available in our data for this period.

Gross margin-74.7%

Operating margin61.6%

Net margin61.7%

Return on assets4.1%

EBITDAUSD 36.3M

Cash & shareholders

USD 101.6M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 10.1

Net buybacks $M Dividends $M

FY2025 · Dividends 63.7 · Net buybacks 37.8

Dividends paidUSD 63.7M

Net buybacksUSD 37.8M

Share of profit322.0%

Consecutive raises—

USD 63.7M in dividends and USD 37.8M in buybacks — 322% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 719.1M

CashUSD 9.3M

Gross debtUSD 161.6M

Net debtUSD 152.3M

Not available: we don't have the shareholders' equity figure for this period.

The 14-year record

14 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	0.0
Operating income $B	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EBITDA $B	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Income tax $B	−0.0	−0.0	−0.0	0.0	0.0	0.0	0.0	·	·	0.0	0.0	0.0	0.0	·
Net income $B	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0
Free cash flow $B	0.0	−0.0	−0.0	−0.0	−0.1	0.0	0.0	−0.0	−0.2	−0.1	−0.1	−0.1	−0.0	−0.0
EPS, diluted $	0.61	1.06	0.53	0.16	−0.17	−0.18	0.04	0.01	0.03	0.09	0.08	−0.15	·	·
Dividend / sh $	0.44	·	·	0.23	0.20	0.20	0.20	0.35	0.51	0.51	0.50	0.33	·	·
Payout %	202	36	40	95	64	83	44	118	186	153	361	−289	·	·
ROE %	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Shares out B	0.04	0.05	0.05	0.05	0.05	0.03	0.03	0.03	0.03	0.02	0.01	0.01	0.00	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 39 reconciliationsAUDITED

Reconciled in 14 of 19 fiscal years. 25 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNYSE

Incorporated inMaryland

Fiscal year endsDecember 31

SEC categorysmaller reporting company

Data on record since2012