FPI vs DE vs AGCO vs IIPR

For growth investors, Deere & Company (DE) is the stronger pick with -2.

2% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). AGCO Corporation (AGCO) offers the better valuation at 12. 3x trailing P/E (20. 8x forward), making it the more compelling value choice. Analysts rate AGCO Corporation (AGCO) a "Buy" — based on 29 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.

On trailing P/E, AGCO Corporation (AGCO) is the cheapest at 12.

3x versus Deere & Company at 32. 0x. On forward P/E, Innovative Industrial Properties, Inc. is actually cheaper at 13. 4x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: AGCO Corporation wins at 1. 80x versus Innovative Industrial Properties, Inc. 's 3. 58x — a reasonable growth-adjusted valuation.

Over the past 5 years, Deere & Company (DE) delivered a total return of +58.

7%, compared to -48. 2% for Innovative Industrial Properties, Inc. (IIPR). Over 10 years, the gap is even starker: DE returned +676. 6% versus FPI's +33. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Farmland Partners Inc.

(FPI) is the lower-risk stock at 0. 56β versus AGCO Corporation's 1. 10β — meaning AGCO is approximately 97% more volatile than FPI relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 2% for Deere & Company — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Deere & Company (DE) is pulling ahead at -2.

2% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: AGCO Corporation grew EPS 271. 4% year-over-year, compared to -41. 5% for Farmland Partners Inc.. Over a 3-year CAGR, IIPR leads at -1. 3% 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.

Farmland Partners Inc.

(FPI) is the more profitable company, earning 60. 5% net margin versus 7. 2% for AGCO Corporation — meaning it keeps 60. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IIPR leads at 46. 7% versus 6. 9% for AGCO. At the gross margin level — before operating expenses — IIPR leads at 88. 7%, 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.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, AGCO Corporation (AGCO) is the more undervalued stock at a PEG of 1. 80x versus Innovative Industrial Properties, Inc. 's 3. 58x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Innovative Industrial Properties, Inc. (IIPR) trades at 13. 4x forward P/E versus 50. 1x for Farmland Partners Inc. — 36. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FPI: 59. 2% to $17. 00.

All stocks in this comparison pay dividends.

Innovative Industrial Properties, Inc. (IIPR) offers the highest yield at 13. 2%, versus 1. 0% for AGCO Corporation (AGCO).

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, +676. 6% 10Y return). Both have compounded well over 10 years (DE: +676. 6%, AGCO: +181. 1%), 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.

These companies operate in different sectors (FPI (Real Estate) and DE (Industrials) and AGCO (Industrials) and IIPR (Real Estate)), 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; AGCO is a small-cap deep-value stock; IIPR is a small-cap deep-value 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.