Gladstone Land Corporation(LAND)Earnings, Financials & Key Ratios

LAND•NASDAQ•REIT / Real Estate

$9.79

$355M mkt cap·Price updated May 6, 2026

SectorReal Estate IndustryIndustrial REITs Sub-IndustryNon-Industrial Diversified REITs

AboutFounded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 127 farms, comprised of approximately 94,000 acres in 13 different states, valued at approximately $1.0 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, apples, figs, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 10 to 20-plus years and harvested annually. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. The Company pays monthly distributions to its stockholders and has paid 93 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 20 times over the prior 23 quarters, and the current per-share distribution on its common stock is $0.0449 per month, or $0.5388 per year.Show more

Revenue$76M-10.7%
FFO$24M-50.3%
FFO/Share0.66-51.1%
FFO Payout99.76%+140.3%
FFO per Share0.66-51.1%
NOI Margin87.4%-6.8%
FFO Margin31.61%-44.3%
ROE-1.54%-181.8%
ROA-0.82%-183.5%
Net Debt/EBITDA-0.29-103.8%
Book Value/Share18.36-4.1%

Technical→

LAND Key Insights

Gladstone Land Corporation (LAND) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High NOI margin of 87.4%
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.8%
✗Weak Piotroski F-Score: 2/9
✗FFO declining 50.1% TTM

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

LAND Price & Volume

Gladstone Land Corporation (LAND) stock price & volume — 10-year historical chart

Loading chart...

LAND Growth Metrics

Gladstone Land Corporation (LAND) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years20.39%

5 Years5.95%

3 Years-5.16%

TTM-10.67%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-178.89%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM0%

Return on Capital

10 Years2.85%

5 Years2.92%

3 Years3.14%

Last Year4.69%

LAND Recent Earnings

Gladstone Land Corporation (LAND) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 4/12 qtrs (33%)●Beat Revenue 6/12 qtrs (50%)

Q1 2026Latest

Feb 24, 2026

EPS

$0.38

Est $0.30

+26.7%

Revenue

$41M

Est $29M

+41.1%

Q4 2025

Nov 5, 2025

EPS

$0.04

Est $0.03

+233.3%

Revenue

$18M

Est $32M

-44.5%

Q3 2025

Aug 7, 2025

EPS

$0.09

Est $0.03

-400.0%

Revenue

$12M

Est $16M

-21.3%

Q2 2025

May 12, 2025

EPS

$0.06

Est $0.03

+100.0%

Revenue

$17M

Est $17M

-2.9%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 24, 2026	$0.38vs $0.30+26.7%	$41Mvs $29M+41.1%
Q4 2025	Nov 5, 2025	$0.04vs $0.03+233.3%	$18Mvs $32M-44.5%
Q3 2025	Aug 7, 2025	$0.09vs $0.03-400.0%	$12Mvs $16M-21.3%
Q2 2025	May 12, 2025	$0.06vs $0.03+100.0%	$17Mvs $17M-2.9%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
FPIFarmland Partners Inc.Direct Competitor	465.96M	10.68	17.23	-10.39%	56%	5.65%	0.30
ILPTIndustrial Logistics Properties TrustDirect Competitor	523.99M	7.86	-7.86	1.48%	-11.93%	-5.93%	4.69
GOODGladstone Commercial CorporationProduct Competitor	599.28M	12.38	30.20	8%	12.75%	9.74%	2.50
GAINGladstone Investment CorporationProduct Competitor	665.43M	16.71	9.39	-12.88%		21.89%	0.91
GLADGladstone Capital CorporationProduct Competitor	434.01M	19.21	7.53	20.37%		5.59%	0.83
PINEAlpine Income Property Trust, Inc.Product Competitor	279.09M	19.48	-88.55	15.9%	-0.64%	-0.14%	1.31
DEDeere & CompanySupply Chain	160.38B	591.64	31.98	-2.23%	8.88%	15.46%	2.46
CTVACorteva, Inc.Supply Chain	54.89B	81.76	51.10	2.92%	6.5%	4.62%	0.11

Compare LAND vs Peers

Gladstone Land Corporation (LAND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FPI

Most directly comparable listed peer for LAND.

Scale Benchmark

vs DE

Larger-name benchmark to compare LAND against a more recognizable public peer.

Peer Set

Compare Top 5

vs FPI, ILPT, GOOD, GAIN

LAND Income Statement

Gladstone Land Corporation (LAND) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Revenue	25.12M	36.69M	40.69M	57.03M	75.32M	89.24M	90.4M	85.22M	76.13M
Revenue Growth %	45.07%	46.04%	10.92%	40.15%	32.06%	18.48%	1.3%	-5.73%	-10.67%
Property Operating Expenses	1.17M	2.04M	2.47M	1.85M	2.54M	2.82M	4.2M	5.33M	9.59M
Net Operating Income (NOI)	23.96M▲ 0%	34.64M▲ 44.6%	38.22M▲ 10.3%	55.18M▲ 44.4%	72.78M▲ 31.9%	86.42M▲ 18.7%	86.2M▼ 0.3%	79.88M▼ 7.3%	66.54M▼ 16.7%
NOI Margin %	95.36%	94.43%	93.92%	96.76%	96.63%	96.84%	95.35%	93.74%	87.4%
Operating Expenses	12.45M	22.53M	18.91M	27.53M	41.08M	51.64M	52.71M	48.5M	6.7M
G&A Expenses	4.53M	5.48M	5.28M	7.84M	9.99M	13.05M	13.78M	13.34M	4.96M
EBITDA	25.12M	37.78M	32.1M	44.35M	59.01M	70.23M	70.74M	66.49M	94.39M
EBITDA Margin %	100%	102.98%	78.88%	77.77%	78.35%	78.7%	78.25%	78.03%	123.99%
Depreciation & Amortization	13.75M	25.67M	12.79M	16.7M	27.3M	35.46M	37.25M	35.11M	34.55M
D&A / Revenue %	54.72%	69.97%	31.43%	29.29%	36.25%	39.73%	41.21%	41.2%	45.38%
Operating Income	11.38M▲ 0%	12.11M▲ 6.5%	19.31M▲ 59.4%	27.65M▲ 43.2%	31.7M▲ 14.7%	34.77M▲ 9.7%	33.48M▼ 3.7%	31.38M▼ 6.3%	59.84M▲ 90.7%
Operating Margin %	45.28%	33.01%	47.44%	48.48%	42.09%	38.97%	37.04%	36.82%	78.61%
Interest Expense	9.76M	12.13M	16.33M	0	0	25.74M	23.66M	21.89M	20.02M
Interest Coverage	1.17x	1.00x	1.18x	-	-	1.35x	1.41x	1.43x	2.99x
Non-Operating Income	1.65M	-3.88M	1.21M	2.08M	3.31M	4.32M	-4.75M	-3.79M	50.3M
Pretax Income	-34K▲ 0%	2.77M▲ 8235.3%	1.76M▼ 36.3%	4.96M▲ 181.2%	3.51M▼ 29.1%	4.72M▲ 34.2%	14.56M▲ 208.8%	13.29M▼ 8.8%	-10.48M▼ 178.9%
Pretax Margin %	-0.14%	7.54%	4.33%	8.69%	4.67%	5.28%	16.11%	15.6%	-13.77%
Income Tax	0	2.78M	0	0	0	0	0	0	0
Effective Tax Rate %	0%	100.65%	0%	0%	0%	0%	0%	0%	0%
Net Income	-31K▲ 0%	2.63M▲ 8580.6%	1.74M▼ 33.8%	4.93M▲ 182.9%	3.5M▼ 29.0%	4.71M▲ 34.7%	14.56M▲ 209.4%	13.29M▼ 8.8%	-10.48M▼ 178.9%
Net Margin %	-0.12%	7.17%	4.28%	8.64%	4.64%	5.28%	16.11%	15.6%	-13.77%
Net Income Growth %	-106.92%	8580.65%	-33.78%	182.94%	-29.05%	34.71%	209.37%	-8.75%	-178.89%
Funds From Operations (FFO)	13.71M▲ 0%	28.3M▲ 106.3%	14.53M▼ 48.7%	21.63M▲ 48.8%	30.8M▲ 42.4%	40.16M▲ 30.4%	51.82M▲ 29.0%	48.4M▼ 6.6%	24.07M▼ 50.3%
FFO Margin %	54.59%	77.13%	35.71%	37.92%	40.89%	45.01%	57.32%	56.8%	31.61%
FFO Growth %	28.08%	106.33%	-48.65%	48.84%	42.41%	30.4%	29.02%	-6.59%	-50.28%
FFO per Share	1.14	1.83	0.74	0.97	1.01	1.16	1.45	1.35	0.66
FFO Payout Ratio %	46.44%	29.24%	71.98%	55.64%	53.54%	47.04%	38.19%	41.52%	99.76%
EPS (Diluted)	-0.00▲ 0%	0.17▲ 6638.5%	-0.70▼ 511.8%	-0.20▲ 71.4%	-0.29▼ 45.0%	-0.43▼ 48.3%	-0.28▲ 34.9%	-0.29▼ 3.6%	-0.29▲ 0.0%
EPS Growth %	-106.5%	-	-511.76%	71.43%	-45%	-48.28%	34.88%	-3.57%	0%
EPS (Basic)	-0.00	0.17	-0.70	-0.20	-0.29	-0.43	-0.28	-0.29	-0.29
Diluted Shares Outstanding	12.06M	15.5M	19.6M	22.26M	30.36M	34.56M	35.73M	35.91M	36.51M

LAND Balance Sheet

Gladstone Land Corporation (LAND) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Assets	462.28M	565.12M	816.79M	1.07B	1.35B	1.46B	1.39B	1.31B	1.24B
Asset Growth %	38.41%	22.25%	44.53%	30.67%	26.63%	7.82%	-4.8%	-5.42%	-5.56%
Real Estate & Other Assets	2.83M	5.75M	798.27M	1.05B	1.33B	1.39B	1.31B	1.24B	0
PP&E (Net)	449.49M	538.95M	0	136K	34.67M	0	0	0	0
Investment Securities	-1000K	-1000K	0	1000K	1000K	0	0	0	0
Total Current Assets	4.47M	14.73M	13.69M	9.22M	16.71M	61.14M	72.2M	64.59M	28.84M
Cash & Equivalents	2.94M	14.73M	13.69M	9.22M	16.71M	61.14M	18.57M	18.27M	27.18M
Receivables	0	0	0	0	0	0	0	0	0
Other Current Assets	0	0	0	0	0	0	0	0	0
Intangible Assets	5.49M	5.69M	4.83M	3.73M	4.46M	5.7M	4.78M	3.59M	3.13M
Total Liabilities	344.33M	384.07M	537.82M	683.5M	762.48M	725.89M	667.71M	625.01M	568.89M
Total Debt	301M	335.89M	481.93M	624.06M	667.98M	626.5M	574.11M	527.52M	0
Net Debt	298.06M	321.16M	468.24M	614.84M	651.27M	565.36M	555.54M	509.25M	-27.18M
Long-Term Debt	291M	335.79M	481.83M	623.96M	667.88M	626.4M	573.91M	523.92M	0
Short-Term Borrowings	10M	100K	100K	100K	100K	100K	200K	3.6M	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0
Total Current Liabilities	18.34M	10.2M	12.4M	11.66M	15.2M	20.74M	14.37M	24.98M	0
Accounts Payable	7.4M	9.15M	10.13M	9.08M	10.87M	16.27M	10.3M	18.4M	0
Deferred Revenue	10M	100K	0	0	0	0	0	0	0
Other Liabilities	34.99M	38.18M	43.59M	47.87M	79.4M	78.75M	79.43M	76.11M	568.89M
Total Equity	117.95M▲ 0%	181.05M▲ 53.5%	278.97M▲ 54.1%	383.79M▲ 37.6%	589.07M▲ 53.5%	731.36M▲ 24.2%	719.61M▼ 1.6%	687.18M▼ 4.5%	670.29M▼ 2.5%
Equity Growth %	34.38%	53.5%	54.08%	37.57%	53.49%	24.16%	-1.61%	-4.51%	-2.46%
Shareholders Equity	109.92M	176.25M	276.62M	383.79M	586.82M	731.36M	719.61M	687.18M	670.29M
Minority Interest	8.03M	4.81M	2.35M	0	2.25M	0	0	0	0
Common Stock	14K	18K	21K	26K	34K	35K	36K	36K	38K
Additional Paid-in Capital	129.71M	202.05M	315.77M	440.47M	668.27M	836.67M	856.21M	854.06M	0
Retained Earnings	-19.8M	-25.83M	-38.78M	-55.21M	-80.47M	-114.37M	-144.01M	-174.56M	0
Preferred Stock	27.89M	1K	5K	7K	9K	16K	16K	16K	60.34M
Return on Assets (ROA)	-0.01%	0.51%	0.25%	0.52%	0.29%	0.34%	1.02%	0.98%	-0.82%
Return on Equity (ROE)	-0.03%	1.76%	0.76%	1.49%	0.72%	0.71%	2.01%	1.89%	-1.54%
Debt / Assets	65.11%	59.44%	59%	58.47%	49.42%	42.99%	41.38%	40.2%	-
Debt / Equity	2.55x	1.86x	1.73x	1.63x	1.13x	0.86x	0.80x	0.77x	-
Net Debt / EBITDA	11.86x	8.50x	14.59x	13.86x	11.04x	8.05x	7.85x	7.66x	-0.29x
Book Value per Share	9.78	11.68	14.23	17.24	19.40	21.16	20.14	19.14	18.36

LAND Cash Flow Statement

Gladstone Land Corporation (LAND) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	6.51M	10.41M	21.37M	25M	32.38M	43.79M	40.08M	29.55M	6.99M
Operating CF Growth %	-22.46%	59.75%	105.32%	17%	29.5%	35.24%	-8.47%	-26.28%	-76.33%
Operating CF / Revenue %	25.93%	28.37%	52.52%	43.84%	42.99%	49.07%	44.34%	34.67%	9.19%
Net Income	-34K	2.77M	1.76M	4.96M	3.51M	4.72M	14.56M	13.29M	13.53M
Depreciation & Amortization	7.24M	9.38M	12.79M	16.7M	27.3M	35.46M	37.25M	35.11M	45.78M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	417K	-3.91M	625K	2.67M	3.13M	5.37M	-2.38M	-19K	-52.31M
Working Capital Changes	-1.1M	2.17M	6.19M	673K	-1.58M	-1.76M	-9.35M	-18.83M	0
Cash from Investing	-129.65M	-93.81M	-262.65M	-272.9M	-295M	-85.48M	-3.77M	63.31M	84.07M
Acquisitions (Net)	0	0	-587K	-573K	-2.05M	-2.75M	0	0	0
Purchase of Investments	-127.83M	-71.44M	0	0	0	0	0	0	0
Sale of Investments	682K	132K	0	0	0	0	0	0	0
Other Investing	-125.12M	-71.2M	-249.77M	-255.82M	-286.83M	-62.61M	9.04M	68.5M	84.07M
Cash from Financing	123.63M	95.19M	240.24M	243.43M	270.11M	86.13M	-78.88M	-93.15M	-82.16M
Dividends Paid	-6.37M	-8.65M	-14.11M	-21.02M	-29.17M	-36.96M	-45.09M	-44.34M	-24.01M
Common Dividends	-6.37M	-8.27M	-10.46M	-12.03M	-16.49M	-18.89M	-19.79M	-20.09M	0
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	0
Share Repurchases	-2.57M	-523K	0	0	0	-7.67M	0	0	0
Other Financing	35.77M	68.61M	-10.5M	-7.86M	-9.47M	-14.73M	-955K	-154K	-58.15M
Net Change in Cash	500K▲ 0%	11.79M▲ 2258.4%	-1.04M▼ 108.8%	-4.47M▼ 329.0%	7.49M▲ 267.6%	44.43M▲ 493.2%	-42.57M▼ 195.8%	-296K▲ 99.3%	8.9M▲ 3107.4%
Exchange Rate Effect	0	0	0	0	0	0	0	0	0
Cash at Beginning	2.44M	2.94M	14.73M	13.69M	9.22M	16.71M	61.14M	18.57M	18.27M
Cash at End	2.94M	14.73M	13.69M	9.22M	16.71M	61.14M	18.57M	18.27M	27.18M
Free Cash Flow	1.3M▲ 0%	-12.2M▼ 1035.4%	9.08M▲ 174.4%	8.49M▼ 6.5%	26.26M▲ 209.2%	23.66M▼ 9.9%	27.28M▲ 15.3%	24.35M▼ 10.7%	6.99M▼ 71.3%
FCF Growth %	193.48%	-1035.35%	174.44%	-6.48%	209.2%	-9.88%	15.27%	-10.72%	-71.28%
FCF / Revenue %	5.19%	-33.25%	22.31%	14.89%	34.86%	26.52%	30.17%	28.58%	9.19%

LAND Key Ratios

Gladstone Land Corporation (LAND) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	1.07	1.14	1.83	0.74	0.97	1.01	1.16	1.45	1.35	0.66
FFO Payout Ratio	46.27%	46.44%	29.24%	71.98%	55.64%	53.54%	47.04%	38.19%	41.52%	99.76%
NOI Margin	96.13%	95.36%	94.43%	93.92%	96.76%	96.63%	96.84%	95.35%	93.74%	87.4%
Net Debt / EBITDA	11.83x	11.86x	8.50x	14.59x	13.86x	11.04x	8.05x	7.85x	7.66x	-0.29x
Debt / Assets	62.08%	65.11%	59.44%	59%	58.47%	49.42%	42.99%	41.38%	40.2%	-
Interest Coverage	1.17x	1.17x	1.00x	1.18x	-	-	1.35x	1.41x	1.43x	2.99x
Book Value / Share	8.77	9.78	11.68	14.23	17.24	19.4	21.16	20.14	19.14	18.36
Revenue Growth	45.5%	45.07%	46.04%	10.92%	40.15%	32.06%	18.48%	1.3%	-5.73%	-10.67%

LAND SEC Filings & Documents

Gladstone Land Corporation (LAND) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 23, 2026·SEC

Material company update

Mar 13, 2026·SEC

Material company update

Feb 24, 2026·SEC

10-K Annual Reports

FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 19, 2025·SEC

FY 2024

Feb 20, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 5, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 12, 2025·SEC

LAND Frequently Asked Questions

Gladstone Land Corporation (LAND) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Gladstone Land Corporation (LAND) reported $76.1M in revenue for fiscal year 2025. This represents a 3048% increase from $2.4M in 2010.

Gladstone Land Corporation (LAND) saw revenue decline by 10.7% over the past year.

Gladstone Land Corporation (LAND) reported a net loss of $10.5M for fiscal year 2025.

Dividend & Returns

Yes, Gladstone Land Corporation (LAND) pays a dividend with a yield of 6.72%. This makes it attractive for income-focused investors.

Gladstone Land Corporation (LAND) has a return on equity (ROE) of -1.5%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Gladstone Land Corporation (LAND) generated Funds From Operations (FFO) of $24.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Gladstone Land Corporation (LAND) offers a 6.72% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More LAND

Gladstone Land Corporation (LAND) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

→

DCA Calculator

Dollar cost averaging vs lump sum

→

Dividend History

Yield, growth, payout safety & DRIP

→

Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→

Gladstone Land Corporation(LAND)Earnings, Financials & Key Ratios

LAND Key Insights

✓Strengths

✗Weaknesses

LAND Price & Volume

LAND Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

LAND Recent Earnings

LAND Peer Comparison

Compare LAND vs Peers

vs FPI

vs DE

Compare Top 5

LAND Income Statement

LAND Balance Sheet

LAND Cash Flow Statement

LAND Key Ratios

LAND SEC Filings & Documents

8-K Announcements

10-K Annual Reports

10-Q Quarterly Reports

LAND Frequently Asked Questions

Explore More LAND

Total Return Calculator

DCA Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

Valuation