Farmland Partners Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	36.61	47.12	49.19	48.88	45.25	43.69
Tenant Reimbursements	-	-	-	-	3.45	3.64
Other Revenue	16.39	11.23	8.28	12.38	3.06	3.36
Total Revenue	52.99	58.35	57.47	61.26	51.76	50.69
Revenue Growth (YoY	-9.37%	1.54%	-6.19%	18.36%	2.11%	-5.37%
Property Expenses	11.27	11.31	13.41	14.16	8.86	10.74
Selling, General & Administrative	14.65	14.33	12.55	14.88	18.36	9.64
Depreciation & Amortization	4.5	5.59	7.5	6.96	7.63	7.97
Other Operating Expenses	0.08	0.1	0.14	0.13	0.03	0
Total Operating Expenses	30.49	31.32	33.61	36.13	34.87	28.35
Operating Income	22.5	27.03	23.86	25.14	16.89	22.34
Interest Expense	-10.42	-18.85	-22.66	-16.14	-15.93	-17.68
Other Non-Operating Income	0.29	0.12	0.04	0.66	0.07	-0.11
EBT Excluding Unusual Items	12.37	8.3	1.24	9.66	1.02	4.55
Merger & Restructuring Charges	-0	-0.03	-0.02	-0.11	-0.06	-0.01
Gain (Loss) on Sale of Assets	76.72	54.15	36.13	2.64	9.29	2.99
Asset Writedown	-18.61	-0.79	-5.84	-	-	-
Other Unusual Items	-0.03	-0.2	-	-	-	-
Pretax Income	70.59	61.43	31.52	12.19	10.26	7.53
Income Tax Expense	-0.04	-0.02	-0.17	0.23	-	-
Earnings From Continuing Operations	70.63	61.45	31.68	11.96	10.26	7.53
Minority Interest in Earnings	-1.76	-1.54	-0.77	-0.29	-0.27	-0.41
Net Income	68.87	59.91	30.91	11.67	9.99	7.12
Preferred Dividends & Other Adjustments	3.33	3.48	3.13	3.27	15.83	12.4
Net Income to Common	65.54	56.43	27.79	8.4	-5.83	-5.28
Net Income Growth	272.63%	93.81%	164.80%	16.84%	40.34%	-48.73%
Basic Shares Outstanding	45	48	50	51	35	29
Diluted Shares Outstanding	54	56	58	51	35	29
Shares Change (YoY)	-3.88%	-3.95%	14.40%	47.09%	17.92%	-2.63%
EPS (Basic)	1.45	1.19	0.55	0.16	-0.17	-0.18
EPS (Diluted)	1.27	1.06	0.53	0.16	-0.17	-0.18
EPS Growth	296.76%	101.08%	229.76%	-	-	-
Dividend Per Share	0.240	0.240	0.240	0.230	0.200	0.200
Dividend Growth	-	-	4.35%	15.00%	-	-
Operating Margin	42.46%	46.32%	41.51%	41.03%	32.63%	44.07%
Profit Margin	123.69%	96.70%	48.35%	13.71%	-11.27%	-10.41%
EBITDA	27	32.62	31.36	32.1	24.52	30.31
EBITDA Margin	50.96%	55.90%	54.56%	52.39%	47.37%	59.80%
D&A For Ebitda	4.5	5.59	7.5	6.96	7.63	7.97
EBIT	22.5	27.03	23.86	25.14	16.89	22.34
EBIT Margin	42.46%	46.32%	41.51%	41.03%	32.63%	44.07%
Funds From Operations (FFO)	17.02	13.68	8.89	16.28	8.6	12.51
FFO Per Share	0.36	0.28	0.17	0.31	0.24	0.40
Adjusted Funds From Operations (AFFO)	-	14.07	8.14	15.76	0.41	1.77
AFFO Per Share	-	0.29	0.16	0.30	0.01	0.06
FFO Payout Ratio	376.24%	158.11%	138.10%	68.35%	73.97%	47.49%
Effective Tax Rate	-	-	-	1.86%	-	-
Revenue as Reported	52.94	58.23	57.47	61.21	51.74	50.69

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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