Farmland Partners Inc. (FPI) P/E Ratio History
UndervaluedTrading at 15.6x vs 5Y avg 76.7x · 25th percentile · Below historical baseline · Data 2015–2026
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P/E Ratio Analysis
As of June 23, 2026, Farmland Partners Inc. (FPI) trades at a price-to-earnings ratio of 15.6x, with a stock price of $9.70 and trailing twelve-month earnings per share of $0.70.
The current P/E is 80% below its 5-year average of 76.7x. Over the past five years, FPI's P/E has ranged from a low of 9.1x to a high of 356.7x, placing the current valuation at the 25th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.1x, FPI trades at a 35% discount to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.7x to 199.8x.
Relative to the broader market, FPI trades at a notable discount to the S&P 500 median P/E of 24.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our FPI DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
FPI Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
FPI P/E vs Peers
Land and Agriculture REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 11.0 | 0.74 | +1% | |
| $82B | 32.7 | 4.48 | +12% | |
| $2B | 15.1 | 4.05 | -29% | |
| $1B | 9.6Lowest | 1.52 | +7% | |
| $162B | 32.4 | 1.95 | -28% | |
| $30B | 13.1 | 0.32Best | +249%Best |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
FPI Historical P/E Data (2015–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $11.23 | $0.61 | 18.5x | -82% |
| FY2025 Q4 | Dec 31 2025 | $9.69 | $0.62 | 15.5x | -85% |
| FY2025 Q3 | - | $10.88 | $1.19 | 9.1x | -91% |
| FY2025 Q2 | Jun 30 2025 | $11.51 | $1.22 | 9.4x | -91% |
| FY2025 Q1 | Mar 31 2025 | $11.15 | $1.02 | 10.9x | -89% |
| FY2024 Q4 | - | $11.76 | $1.01 | 11.7x | -89% |
| FY2024 Q3 | Sep 30 2024 | $10.45 | $0.24 | 44.2x | -57% |
| FY2024 Q2 | Jun 30 2024 | $11.53 | $0.29 | 40.3x | -60% |
| FY2024 Q1 | Mar 31 2024 | $11.10 | $0.46 | 23.9x | -77% |
| FY2023 Q4 | Dec 31 2023 | $12.48 | $0.47 | 26.7x | -74% |
| FY2023 Q3 | Sep 30 2023 | $10.26 | $0.30 | 34.3x | -66% |
| FY2023 Q2 | Jun 30 2023 | $12.21 | $0.25 | 49.2x | -52% |
| FY2023 Q1 | Mar 31 2023 | $10.70 | $0.17 | 63.7x | -38% |
| FY2022 Q4 | Dec 31 2022 | $12.46 | $0.18 | 70.6x | -31% |
| FY2022 Q3 | Sep 30 2022 | $12.67 | $0.30 | 41.6x | -59% |
| FY2022 Q2 | - | $13.80 | $0.21 | 67.1x | -34% |
| FY2022 Q1 | - | $13.75 | $0.08 | 177.0x | +73% |
| FY2021 Q4 | Dec 31 2021 | $11.95 | $0.03 | 356.7x | +250% |
| FY2020 Q1 | - | $6.07 | $0.03 | 179.6x | +76% |
| FY2019 Q4 | - | $6.78 | $0.02 | 284.9x | +179% |
| FY2019 Q3 | Sep 30 2019 | $6.68 | $0.02 | 280.7x | +175% |
| FY2019 Q2 | Jun 30 2019 | $7.05 | $0.09 | 78.3x | -23% |
| FY2018 Q1 | Mar 31 2018 | $8.35 | $0.02 | 417.5x | +309% |
| FY2017 Q4 | Dec 31 2017 | $8.68 | $0.04 | 222.0x | +118% |
| FY2017 Q3 | Sep 30 2017 | $9.04 | $0.27 | 33.6x | -67% |
| FY2017 Q2 | Jun 30 2017 | $8.94 | $0.20 | 44.9x | -56% |
| FY2017 Q1 | Mar 31 2017 | $11.17 | $0.18 | 63.5x | -38% |
| FY2016 Q4 | Dec 31 2016 | $11.16 | $0.13 | 87.9x | -14% |
| FY2015 Q4 | - | $10.97 | $0.06 | 195.2x | +91% |
Average P/E for displayed period: 102.0x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FPI — Frequently Asked Questions
Quick answers to the most common questions about buying FPI stock.
What is FPI's P/E ratio?
Farmland Partners Inc. (FPI) trailing twelve-month P/E ratio is 15.6x, based on TTM diluted EPS of $0.70. The 5-year average P/E is 76.7x and the historical range spans 9.1x to 356.7x.
Is FPI stock overvalued or undervalued?
FPI trades at 15.6x P/E, below its 5-year average of 76.7x. At the 25th percentile of its historical range (9.1x–356.7x), the stock is priced at a discount to its own history.
Is FPI stock expensive?
No, FPI is not expensive on a historical basis. The current P/E of 15.6x is below the 5-year average of 76.7x and sits at the 25th percentile of its valuation range.
What is FPI's historical P/E range?
Over the past 5 years, FPI's P/E ratio has ranged from 9.1x to 356.7x, with a median of 41.6x and an average of 76.7x. The current P/E of 15.6x places the stock at the 25th percentile of this range. Full historical data spans 2015–2026.
How does FPI's P/E compare to the S&P 500?
FPI trades at 15.6x P/E versus the S&P 500 median of 24.3x. The 36% discount to the market suggests lower growth expectations or perceived higher risk.
How does FPI's valuation compare to Real Estate peers?
Farmland Partners Inc. P/E of 15.6x compares to the Real Estate sector median of 24.1x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is FPI's PEG ratio?
FPI PEG ratio is N/A, based on a P/E of 15.6x and EPS growth of -41.5%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is FPI's earnings yield?
FPI earnings yield is 6.39%, the inverse of its 15.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.