Farmland Partners Inc. (FPI) Revenue History
Annual and quarterly revenue from 2012 to present
FPI Revenue Over Time (2012–2025)
FPI Revenue Growth History
9 of 13 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- +10.7%
- FY2014 revenue growth
- +79.5%
- FY2015 revenue growth
- +226.1%
- FY2016 revenue growth
- +125.4%
- FY2017 revenue growth
- +49.1%
- FY2018 revenue growth
- +21.3%
- FY2019 revenue growth
- -4.5%
- FY2020 revenue growth
- -5.4%
- FY2021 revenue growth
- +2.1%
- FY2022 revenue growth
- +18.3%
- FY2023 revenue growth
- -6.1%
- FY2024 revenue growth
- +1.3%
- FY2025 revenue growth
- -10.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $10.1M | -1.5% |
| Q4 2025 | $22.5M | +4.8% |
| Q3 2025 | $11.3M | -15.5% |
| Q2 2025 | $10.0M | -13.0% |
| Q1 2025 | $10.3M | -14.5% |
| Q4 2024 | $21.5M | -0.5% |
| Q3 2024 | $13.3M | +14.6% |
| Q2 2024 | $11.4M | -1.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
FPI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
FPI Revenue Analysis (2012–2025)
Current Revenue & Growth
As of June 23, 2026, Farmland Partners Inc. (FPI) generated trailing twelve-month (TTM) revenue of $53.8 million, reflecting slight decline in growth of -1.5% year-over-year. The most recent quarter (Q1 2026) recorded $10.1 million in revenue, down 55.1% sequentially.
Historical Growth Trajectory
FPI's 5-year compound annual growth rate (CAGR) stands at +0.6%, indicating moderate growth over time. The 3-year CAGR of -5.2% is below the 5-year average, signalling a growth deceleration in recent years. Farmland Partners Inc.'s highest annual revenue of $61.2 million was recorded in 2022.
Revenue by Segment
FPI's revenue is primarily driven by Real Estate, Other (66%), and Crop sales (34%). With over half of revenue concentrated in Real Estate, Other, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Real Estate sector peers — including LAND (+7.7% YoY), AGM, and AFCG (-46.0% YoY) — FPI has outperformed the peer group in revenue growth. Compare FPI vs LAND →
FPI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FPICurrent | $54M | -1.5% | +0.6% | 44.2% | |
 LAND | $88M | +7.7% | +9.1% | 27.2% | |
 AGM | $1.3B | - | - | 19.4% | |
 AFCG | $31M | -46.0% | +22.2% | -43.6% | |
 AMT | $10.6B | +2.7% | +5.8% | 45.8% | |
 IIPR | $266M | -13.6% | +17.9% | 46.7% |
FPI Historical Revenue Data (2012–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $52.2M | -10.4% | $33.6M | 64.4% | $23.1M | 44.2% |
| 2024 | $58.2M | +1.3% | $46.9M | 80.6% | $25.5M | 43.8% |
| 2023 | $57.5M | -6.1% | $44.1M | 76.7% | $23.9M | 41.5% |
| 2022 | $61.2M | +18.3% | $47.1M | 76.9% | $25.0M | 40.8% |
| 2021 | $51.7M | +2.1% | $42.9M | 82.9% | $16.8M | 32.4% |
| 2020 | $50.7M | -5.4% | $40.0M | 78.8% | $22.3M | 44.1% |
| 2019 | $53.6M | -4.5% | $44.7M | 83.5% | $26.3M | 49.2% |
| 2018 | $56.1M | +21.3% | $48.2M | 86.0% | $29.7M | 53.0% |
| 2017 | $46.2M | +49.1% | $40.3M | 87.2% | $22.5M | 48.7% |
| 2016 | $31.0M | +125.4% | $28.6M | 92.3% | $15.6M | 50.4% |
| 2015 | $13.8M | +226.1% | $12.7M | 92.0% | $6.2M | 45.2% |
| 2014 | $4.2M | +79.5% | $4.0M | 94.1% | $557K | 13.2% |
| 2013 | $2.4M | +10.7% | $2.3M | 98.9% | $1.4M | 58.6% |
| 2012 | $2.1M | - | $1.9M | 91.3% | $1.7M | 82.3% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
FPI — Frequently Asked Questions
Quick answers to the most common questions about buying FPI stock.
Is FPI's revenue growth accelerating or slowing?
FPI revenue growth is slowing. TTM revenue is $54M, up -1.5% year-over-year — below the 5-year CAGR of +0.6%. The deceleration suggests maturing end-markets or increased competition.
What is FPI's revenue history from 2012 to 2026?
Farmland Partners Inc. (FPI) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $54M, growing at -1.5% YoY. The 5-year CAGR is +0.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is FPI's long-term revenue growth rate (CAGR)?
Farmland Partners Inc.'s 5-year revenue CAGR of +0.6% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -1.5% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for FPI.
Why does FPI's quarterly revenue fluctuate?
FPI quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Farmland Partners Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is FPI's revenue distributed by segment?
FPI reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does FPI's revenue compare to industry peers?
Farmland Partners Inc. (FPI) with TTM revenue of $54M and -1.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.