FPI
Farmland Partners Inc.
REIT - Specialty
Market Cap$461M
5Y Perf.+53.2%
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Stock Comparison
FPI vs DE
Revenue, margins, valuation, and 5-year total return — side by side.
DE
Deere & Company
Agricultural - Machinery
Market Cap$156.08B
5Y Perf.+278.5%
FPI vs DE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | FPI | DE |
|---|---|---|
| Industry | REIT - Specialty | Agricultural - Machinery |
| Market Cap | $461M | $156.08B |
| Revenue (TTM) | $54M | $45.88B |
| Net Income (TTM) | $30M | $4.08B |
| Gross Margin | 78.7% | 34.7% |
| Operating Margin | 45.6% | 17.0% |
| Forward P/E | 49.6x | 32.3x |
| Total Debt | $161M | $63.94B |
| Cash & Equiv. | $9M | $8.28B |
FPI vs DE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
FPI
DE
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Farmland Partners I… (FPI) | 100 | 153.2 | +53.2% |
| Deere & Company (DE) | 100 | 378.5 | +278.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FPI vs DE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: FPI leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Deere & Company is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
FPI
Farmland Partners Inc.
The Real Estate Income Play
FPI carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 0.56, yield 11.8%
- Lower volatility, beta 0.56, Low D/E 30.0%, current ratio 537.08x
- Beta 0.56, yield 11.8%, current ratio 537.08x
Best for: income & stability and sleep-well-at-night
DE
Deere & Company
The Growth Play
DE is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth -2.2%, EPS growth 0.0%, 3Y rev CAGR -3.8%
- 6.6% 10Y total return vs FPI's 34.6%
- -2.2% revenue growth vs FPI's -10.4%
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | DE | -2.2% revenue growth vs FPI's -10.4% |
| Value | DE | Lower P/E (32.3x vs 49.6x) |
| Quality / Margins | FPI | 56.0% margin vs DE's 8.9% |
| Stability / Safety | FPI | Beta 0.56 vs DE's 0.56, lower leverage |
| Dividends | FPI | 11.8% yield, 2-year raise streak, vs DE's 1.1% |
| Momentum (1Y) | DE | +21.0% vs FPI's +6.0% |
| Efficiency (ROA) | FPI | 4.1% ROA vs DE's 3.9%, ROIC 2.4% vs 7.7% |
FPI vs DE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2024
FPI vs DE — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLFPILAGGINGDE
DEDeere & Company
1leads
FPIFarmland Partners Inc.
2leads
6 Total Categories
CATEGORYLEADERvs DEMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
FPI4/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
FPI6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
DE6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
FPI leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
DE is the larger business by revenue, generating $45.9B annually — 852.4x FPI's $54M. FPI is the more profitable business, keeping 56.0% of every revenue dollar as net income compared to DE's 8.9%. On growth, DE holds the edge at +16.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| RevenueTrailing 12 months | $54M | $45.9B |
| EBITDAEarnings before interest/tax | $28M | $9.5B |
| Net IncomeAfter-tax profit | $30M | $4.1B |
| Free Cash FlowCash after capex | $19M | $5.5B |
| Gross MarginGross profit ÷ Revenue | +78.7% | +34.7% |
| Operating MarginEBIT ÷ Revenue | +45.6% | +17.0% |
| Net MarginNet income ÷ Revenue | +56.0% | +8.9% |
| FCF MarginFCF ÷ Revenue | +35.9% | +12.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.5% | +16.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -64.2% | -24.1% |
FPI leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
Evenly matched — FPI and DE each lead in 3 of 6 comparable metrics.
Valuation Metrics
At 17.0x trailing earnings, FPI trades at a 45% valuation discount to DE's 31.1x P/E. On an enterprise value basis, DE's 19.9x EV/EBITDA is more attractive than FPI's 22.5x.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| Market CapShares × price | $461M | $156.1B |
| Enterprise ValueMkt cap + debt − cash | $613M | $211.7B |
| Trailing P/EPrice ÷ TTM EPS | 17.05x | 31.12x |
| Forward P/EPrice ÷ next-FY EPS est. | 49.55x | 32.27x |
| PEG RatioP/E ÷ EPS growth rate | — | 1.91x |
| EV / EBITDAEnterprise value multiple | 22.52x | 19.89x |
| Price / SalesMarket cap ÷ Revenue | 8.84x | 3.49x |
| Price / BookPrice ÷ Book value/share | 1.01x | 6.02x |
| Price / FCFMarket cap ÷ FCF | 26.46x | 48.31x |
Evenly matched — FPI and DE each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
FPI leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
DE delivers a 15.5% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $6 for FPI. FPI carries lower financial leverage with a 0.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to DE's 2.46x. On the Piotroski fundamental quality scale (0–9), FPI scores 6/9 vs DE's 5/9, reflecting solid financial health.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| ROE (TTM)Return on equity | +5.7% | +15.5% |
| ROA (TTM)Return on assets | +4.1% | +3.9% |
| ROICReturn on invested capital | +2.4% | +7.7% |
| ROCEReturn on capital employed | +3.0% | +11.4% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.30x | 2.46x |
| Net DebtTotal debt minus cash | $152M | $55.7B |
| Cash & Equiv.Liquid assets | $9M | $8.3B |
| Total DebtShort + long-term debt | $161M | $63.9B |
| Interest CoverageEBIT ÷ Interest expense | 4.34x | 2.74x |
FPI leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
DE leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in DE five years ago would be worth $15,910 today (with dividends reinvested), compared to $9,704 for FPI. Over the past 12 months, DE leads with a +21.0% total return vs FPI's +6.0%. The 3-year compound annual growth rate (CAGR) favors DE at 15.9% vs FPI's 6.2% — a key indicator of consistent wealth creation.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| YTD ReturnYear-to-date | +10.9% | +23.7% |
| 1-Year ReturnPast 12 months | +6.0% | +21.0% |
| 3-Year ReturnCumulative with dividends | +19.9% | +55.9% |
| 5-Year ReturnCumulative with dividends | -3.0% | +59.1% |
| 10-Year ReturnCumulative with dividends | +34.6% | +659.4% |
| CAGR (3Y)Annualised 3-year return | +6.2% | +15.9% |
DE leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — FPI and DE each lead in 1 of 2 comparable metrics.
Risk & Volatility
FPI is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than DE's 0.56 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DE currently trades 85.4% from its 52-week high vs FPI's 79.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.56x | 0.56x |
| 52-Week HighHighest price in past year | $13.23 | $674.19 |
| 52-Week LowLowest price in past year | $9.37 | $433.00 |
| % of 52W HighCurrent price vs 52-week peak | +79.9% | +85.4% |
| RSI (14)Momentum oscillator 0–100 | 27.7 | 49.1 |
| Avg Volume (50D)Average daily shares traded | 429K | 1.2M |
Evenly matched — FPI and DE each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — FPI and DE each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates FPI as "Hold" and DE as "Hold". Consensus price targets imply 60.8% upside for FPI (target: $17) vs 18.2% for DE (target: $681). For income investors, FPI offers the higher dividend yield at 11.77% vs DE's 1.10%.
| Metric | FPIFarmland Partners… | DEDeere & Company |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $17.00 | $680.54 |
| # AnalystsCovering analysts | 15 | 46 |
| Dividend YieldAnnual dividend ÷ price | +11.8% | +1.1% |
| Dividend StreakConsecutive years of raises | 2 | 8 |
| Dividend / ShareAnnual DPS | $1.24 | $6.33 |
| Buyback YieldShare repurchases ÷ mkt cap | +8.3% | +0.7% |
Evenly matched — FPI and DE each lead in 1 of 2 comparable metrics.
Key Takeaway
FPI leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). DE leads in 1 (Total Returns). 3 tied.
Best OverallFarmland Partners Inc. (FPI)Leads 2 of 6 categories
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FPI vs DE: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is FPI or DE a better buy right now?
For growth investors, Deere & Company (DE) is the stronger pick with -2.
2% revenue growth year-over-year, versus -10. 4% for Farmland Partners Inc. (FPI). Farmland Partners Inc. (FPI) offers the better valuation at 17. 0x trailing P/E (49. 6x forward), making it the more compelling value choice. Analysts rate Farmland Partners Inc. (FPI) a "Hold" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — FPI or DE?
On trailing P/E, Farmland Partners Inc.
(FPI) is the cheapest at 17. 0x versus Deere & Company at 31. 1x. On forward P/E, Deere & Company is actually cheaper at 32. 3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — FPI or DE?
Over the past 5 years, Deere & Company (DE) delivered a total return of +59.
1%, compared to -3. 0% for Farmland Partners Inc. (FPI). Over 10 years, the gap is even starker: DE returned +659. 4% versus FPI's +34. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FPI or DE?
By beta (market sensitivity over 5 years), Farmland Partners Inc.
(FPI) is the lower-risk stock at 0. 56β versus Deere & Company's 0. 56β — meaning DE is approximately 1% more volatile than FPI relative to the S&P 500. On balance sheet safety, Farmland Partners Inc. (FPI) carries a lower debt/equity ratio of 30% versus 2% for Deere & Company — giving it more financial flexibility in a downturn.
05Which is growing faster — FPI or DE?
By revenue growth (latest reported year), Deere & Company (DE) is pulling ahead at -2.
2% versus -10. 4% for Farmland Partners Inc. (FPI). On earnings-per-share growth, the picture is similar: Deere & Company grew EPS 0. 0% year-over-year, compared to -41. 5% for Farmland Partners Inc.. Over a 3-year CAGR, DE leads at -3. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — FPI or DE?
Farmland Partners Inc.
(FPI) is the more profitable company, earning 60. 5% net margin versus 11. 3% for Deere & Company — meaning it keeps 60. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FPI leads at 44. 2% versus 18. 8% for DE. At the gross margin level — before operating expenses — FPI leads at 64. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is FPI or DE more undervalued right now?
On forward earnings alone, Deere & Company (DE) trades at 32.
3x forward P/E versus 49. 6x for Farmland Partners Inc. — 17. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FPI: 60. 8% to $17. 00.
08Which pays a better dividend — FPI or DE?
All stocks in this comparison pay dividends.
Farmland Partners Inc. (FPI) offers the highest yield at 11. 8%, versus 1. 1% for Deere & Company (DE).
09Is FPI or DE better for a retirement portfolio?
For long-horizon retirement investors, Deere & Company (DE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
56), 1. 1% yield, +659. 4% 10Y return). Both have compounded well over 10 years (DE: +659. 4%, FPI: +34. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between FPI and DE?
These companies operate in different sectors (FPI (Real Estate) and DE (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: FPI is a small-cap deep-value stock; DE is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(FPI: -1.5% · DE: 16.3%)Net Margin>
%
(FPI: 56.0% · DE: 8.9%)P/E Ratio<
x
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