Annual Income Statements for Gladstone Land
This table shows Gladstone Land's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Gladstone Land
This table shows Gladstone Land's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-3.59 |
-4.81 |
-4.32 |
1.73 |
-2.96 |
-4.30 |
7.45 |
-6.65 |
-5.79 |
-5.46 |
Consolidated Net Income / (Loss) |
|
1.81 |
1.11 |
1.75 |
7.86 |
3.14 |
1.82 |
14 |
-0.82 |
0.01 |
0.54 |
Net Income / (Loss) Continuing Operations |
|
3.44 |
-2.06 |
2.53 |
8.64 |
3.92 |
2.55 |
14 |
-0.10 |
0.62 |
1.33 |
Total Pre-Tax Income |
|
3.44 |
-2.06 |
2.53 |
8.64 |
3.92 |
2.55 |
14 |
-0.10 |
0.62 |
1.33 |
Total Revenue |
|
24 |
2.19 |
24 |
16 |
18 |
13 |
23 |
22 |
18 |
4.70 |
Net Interest Income / (Expense) |
|
0.00 |
-26 |
0.00 |
-5.94 |
-5.86 |
-12 |
0.00 |
0.00 |
-5.40 |
-16 |
Total Interest Expense |
|
0.00 |
26 |
0.00 |
5.94 |
5.86 |
12 |
0.00 |
0.00 |
5.40 |
16 |
Total Non-Interest Income |
|
24 |
28 |
24 |
22 |
24 |
25 |
23 |
22 |
23 |
21 |
Other Service Charges |
|
0.24 |
- |
2.62 |
0.36 |
0.38 |
0.35 |
2.85 |
0.52 |
0.37 |
0.08 |
Other Non-Interest Income |
|
24 |
25 |
21 |
21 |
24 |
24 |
20 |
21 |
23 |
21 |
Total Non-Interest Expense |
|
15 |
23 |
14 |
6.99 |
14 |
16 |
2.72 |
13 |
17 |
17 |
Net Occupancy & Equipment Expense |
|
0.71 |
0.72 |
1.13 |
0.89 |
0.73 |
1.46 |
0.88 |
1.22 |
1.38 |
1.86 |
Other Operating Expenses |
|
4.18 |
11 |
3.99 |
-2.94 |
3.38 |
4.15 |
-6.95 |
3.43 |
4.24 |
6.84 |
Depreciation Expense |
|
9.15 |
9.48 |
9.12 |
9.04 |
9.24 |
9.75 |
8.79 |
8.81 |
8.81 |
8.65 |
Nonoperating Income / (Expense), net |
|
-6.48 |
18 |
-7.05 |
0.00 |
0.00 |
6.04 |
-5.56 |
-8.43 |
-0.28 |
14 |
Preferred Stock Dividends Declared |
|
5.40 |
5.92 |
6.07 |
6.13 |
6.11 |
6.11 |
6.12 |
6.59 |
5.79 |
5.25 |
Basic Earnings per Share |
|
($0.10) |
($0.14) |
($0.12) |
$0.05 |
($0.08) |
($0.13) |
$0.21 |
($0.19) |
($0.16) |
($0.15) |
Weighted Average Basic Shares Outstanding |
|
34.61M |
34.56M |
35.55M |
35.72M |
35.82M |
35.73M |
35.84M |
35.84M |
35.84M |
35.91M |
Diluted Earnings per Share |
|
($0.10) |
($0.14) |
($0.12) |
$0.05 |
($0.08) |
($0.13) |
$0.21 |
($0.19) |
($0.16) |
($0.15) |
Weighted Average Diluted Shares Outstanding |
|
34.61M |
34.56M |
35.55M |
35.72M |
35.82M |
35.73M |
35.84M |
35.84M |
35.84M |
35.91M |
Weighted Average Basic & Diluted Shares Outstanding |
|
34.70M |
35.71M |
35.71M |
35.84M |
35.84M |
35.84M |
35.84M |
35.84M |
36.18M |
36.18M |
Annual Cash Flow Statements for Gladstone Land
This table details how cash moves in and out of Gladstone Land's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
44 |
-43 |
-0.30 |
Net Cash From Operating Activities |
44 |
40 |
30 |
Net Cash From Continuing Operating Activities |
44 |
40 |
30 |
Net Income / (Loss) Continuing Operations |
4.72 |
15 |
13 |
Consolidated Net Income / (Loss) |
4.72 |
15 |
13 |
Provision For Loan Losses |
0.08 |
0.15 |
0.37 |
Depreciation Expense |
35 |
37 |
35 |
Amortization Expense |
0.60 |
1.60 |
3.05 |
Non-Cash Adjustments to Reconcile Net Income |
4.78 |
-4.04 |
-3.38 |
Changes in Operating Assets and Liabilities, net |
-1.76 |
-9.35 |
-19 |
Net Cash From Investing Activities |
-85 |
-3.77 |
63 |
Net Cash From Continuing Investing Activities |
-85 |
-3.77 |
63 |
Acquisitions |
-0.55 |
0.00 |
0.00 |
Purchase of Investment Securities |
-82 |
-13 |
-5.20 |
Sale and/or Maturity of Investments |
0.00 |
9.04 |
69 |
Other Investing Activities, net |
-2.75 |
0.00 |
0.00 |
Net Cash From Financing Activities |
86 |
-79 |
-93 |
Net Cash From Continuing Financing Activities |
86 |
-79 |
-93 |
Issuance of Debt |
9.93 |
0.20 |
3.40 |
Repayment of Debt |
-52 |
-53 |
-51 |
Repurchase of Preferred Equity |
-0.90 |
-1.19 |
-6.63 |
Payment of Dividends |
-37 |
-45 |
-44 |
Other Financing Activities, Net |
166 |
20 |
4.94 |
Cash Interest Paid |
25 |
26 |
24 |
Quarterly Cash Flow Statements for Gladstone Land
This table details how cash moves in and out of Gladstone Land's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-11 |
24 |
-22 |
9.48 |
-23 |
-6.51 |
33 |
-1.80 |
-37 |
5.06 |
Net Cash From Operating Activities |
|
3.72 |
21 |
4.71 |
18 |
0.08 |
17 |
3.42 |
16 |
-1.37 |
12 |
Net Cash From Continuing Operating Activities |
|
3.72 |
21 |
4.71 |
18 |
0.08 |
17 |
3.42 |
16 |
-1.37 |
12 |
Net Income / (Loss) Continuing Operations |
|
1.81 |
1.11 |
1.75 |
7.86 |
3.14 |
1.82 |
14 |
-0.82 |
0.01 |
0.54 |
Consolidated Net Income / (Loss) |
|
1.81 |
1.11 |
1.75 |
7.86 |
3.14 |
1.82 |
14 |
-0.82 |
0.01 |
0.54 |
Provision For Loan Losses |
|
0.00 |
0.02 |
0.03 |
0.03 |
0.01 |
0.08 |
0.01 |
0.21 |
0.07 |
0.08 |
Depreciation Expense |
|
9.15 |
9.48 |
9.12 |
9.04 |
9.24 |
9.75 |
8.79 |
8.81 |
8.81 |
8.65 |
Amortization Expense |
|
0.25 |
-0.10 |
0.23 |
0.28 |
0.33 |
0.76 |
0.76 |
0.21 |
-0.35 |
2.42 |
Non-Cash Adjustments to Reconcile Net Income |
|
1.60 |
1.87 |
1.55 |
-6.34 |
-0.02 |
0.77 |
-10 |
2.94 |
3.14 |
0.73 |
Changes in Operating Assets and Liabilities, net |
|
-9.08 |
8.34 |
-7.96 |
7.00 |
-13 |
4.24 |
-9.52 |
4.56 |
-13 |
-0.84 |
Net Cash From Investing Activities |
|
-43 |
-6.86 |
-3.02 |
6.12 |
-4.19 |
-2.68 |
63 |
-0.84 |
-1.64 |
3.27 |
Net Cash From Continuing Investing Activities |
|
-43 |
-6.86 |
-3.02 |
6.12 |
-4.19 |
-2.68 |
63 |
-0.84 |
-1.64 |
3.27 |
Purchase of Investment Securities |
|
-41 |
-7.01 |
-2.87 |
-2.82 |
-4.29 |
-2.83 |
-1.48 |
-0.84 |
-1.64 |
-1.24 |
Sale and/or Maturity of Investments |
|
- |
- |
0.00 |
9.04 |
- |
- |
64 |
- |
- |
4.51 |
Net Cash From Financing Activities |
|
28 |
10 |
-24 |
-15 |
-19 |
-21 |
-33 |
-17 |
-34 |
-9.79 |
Net Cash From Continuing Financing Activities |
|
28 |
10 |
-24 |
-15 |
-19 |
-21 |
-33 |
-17 |
-34 |
-9.79 |
Repayment of Debt |
|
-22 |
-13 |
-28 |
-5.42 |
-9.67 |
-10 |
-22 |
-2.88 |
-19 |
-6.75 |
Repurchase of Preferred Equity |
|
-0.42 |
-0.37 |
-0.23 |
-0.95 |
-0.02 |
0.00 |
0.00 |
-2.90 |
-3.74 |
0.00 |
Payment of Dividends |
|
-9.59 |
-10 |
-11 |
-11 |
-12 |
-11 |
-11 |
-11 |
-11 |
-11 |
Other Financing Activities, Net |
|
146 |
34 |
14 |
-15 |
21 |
0.11 |
0.23 |
-0.29 |
0.36 |
4.63 |
Annual Balance Sheets for Gladstone Land
This table presents Gladstone Land's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
1,457 |
1,387 |
1,312 |
Cash and Due from Banks |
61 |
19 |
18 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
1,325 |
1,242 |
1,157 |
Intangible Assets |
5.70 |
4.78 |
3.59 |
Other Assets |
65 |
122 |
133 |
Total Liabilities & Shareholders' Equity |
1,457 |
1,387 |
1,312 |
Total Liabilities |
726 |
668 |
625 |
Short-Term Debt |
0.10 |
0.20 |
3.60 |
Other Short-Term Payables |
- |
10 |
18 |
Long-Term Debt |
626 |
574 |
524 |
Other Long-Term Liabilities |
99 |
83 |
79 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
731 |
720 |
687 |
Total Preferred & Common Equity |
731 |
720 |
687 |
Preferred Stock |
0.02 |
0.02 |
0.02 |
Total Common Equity |
731 |
720 |
687 |
Common Stock |
837 |
856 |
854 |
Accumulated Other Comprehensive Income / (Loss) |
9.01 |
7.37 |
7.63 |
Other Equity Adjustments |
-114 |
-144 |
-175 |
Noncontrolling Interest |
0.00 |
0.00 |
0.00 |
Quarterly Balance Sheets for Gladstone Land
This table presents Gladstone Land's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
1,438 |
1,426 |
1,429 |
1,406 |
1,364 |
1,353 |
1,318 |
Cash and Due from Banks |
|
37 |
39 |
48 |
25 |
52 |
50 |
13 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
1,329 |
1,316 |
1,309 |
1,304 |
1,235 |
1,225 |
1,215 |
Intangible Assets |
|
5.95 |
5.52 |
5.26 |
5.02 |
4.55 |
4.26 |
3.94 |
Other Assets |
|
66 |
66 |
66 |
72 |
73 |
73 |
86 |
Total Liabilities & Shareholders' Equity |
|
1,438 |
1,426 |
1,429 |
1,406 |
1,364 |
1,353 |
1,318 |
Total Liabilities |
|
731 |
692 |
694 |
675 |
640 |
644 |
627 |
Short-Term Debt |
|
0.10 |
0.10 |
0.10 |
0.10 |
0.20 |
0.20 |
0.20 |
Other Short-Term Payables |
|
3.25 |
3.03 |
- |
- |
- |
11 |
19 |
Long-Term Debt |
|
640 |
599 |
594 |
584 |
552 |
549 |
530 |
Other Long-Term Liabilities |
|
88 |
89 |
100 |
90 |
88 |
83 |
77 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
707 |
735 |
735 |
731 |
723 |
708 |
691 |
Total Preferred & Common Equity |
|
707 |
735 |
735 |
731 |
723 |
708 |
691 |
Preferred Stock |
|
0.02 |
0.02 |
0.02 |
0.02 |
0.02 |
0.02 |
0.02 |
Total Common Equity |
|
707 |
735 |
735 |
731 |
723 |
708 |
691 |
Common Stock |
|
803 |
851 |
853 |
856 |
856 |
853 |
849 |
Accumulated Other Comprehensive Income / (Loss) |
|
9.46 |
7.36 |
8.71 |
10 |
8.37 |
8.34 |
5.78 |
Other Equity Adjustments |
|
-105 |
-124 |
-127 |
-135 |
-142 |
-153 |
-164 |
Noncontrolling Interest |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Annual Metrics And Ratios for Gladstone Land
This table displays calculated financial ratios and metrics derived from Gladstone Land's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
-13.75% |
5.12% |
-5.20% |
EBITDA Growth |
-24.56% |
28.49% |
-4.83% |
EBIT Growth |
-72.29% |
114.05% |
-11.34% |
NOPAT Growth |
-72.29% |
114.05% |
-11.34% |
Net Income Growth |
34.21% |
208.84% |
-8.75% |
EPS Growth |
-48.28% |
34.88% |
-3.57% |
Operating Cash Flow Growth |
35.24% |
-8.47% |
-26.28% |
Free Cash Flow Firm Growth |
57.21% |
189.90% |
15.42% |
Invested Capital Growth |
8.02% |
-4.72% |
-6.11% |
Revenue Q/Q Growth |
-25.45% |
-17.65% |
-32.30% |
EBITDA Q/Q Growth |
-40.44% |
-11.82% |
-37.13% |
EBIT Q/Q Growth |
-78.46% |
-32.12% |
-66.49% |
NOPAT Q/Q Growth |
-80.38% |
-32.12% |
-66.49% |
Net Income Q/Q Growth |
-15.70% |
5.12% |
-8.78% |
EPS Q/Q Growth |
-30.30% |
3.45% |
-7.41% |
Operating Cash Flow Q/Q Growth |
24.77% |
-7.59% |
-16.51% |
Free Cash Flow Firm Q/Q Growth |
27.97% |
40.86% |
-33.25% |
Invested Capital Q/Q Growth |
0.81% |
-1.67% |
-0.59% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
66.76% |
81.60% |
81.91% |
EBIT Margin |
13.02% |
26.52% |
24.80% |
Profit (Net Income) Margin |
7.05% |
20.70% |
19.92% |
Tax Burden Percent |
54.45% |
82.55% |
81.73% |
Interest Burden Percent |
99.36% |
94.55% |
98.28% |
Effective Tax Rate |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
0.67% |
1.41% |
1.32% |
ROIC Less NNEP Spread (ROIC-NNEP) |
0.05% |
0.73% |
0.73% |
Return on Net Nonoperating Assets (RNNOA) |
0.05% |
0.60% |
0.57% |
Return on Equity (ROE) |
0.71% |
2.01% |
1.89% |
Cash Return on Invested Capital (CROIC) |
-7.04% |
6.25% |
7.62% |
Operating Return on Assets (OROA) |
0.62% |
1.31% |
1.23% |
Return on Assets (ROA) |
0.34% |
1.02% |
0.98% |
Return on Common Equity (ROCE) |
0.71% |
2.01% |
1.89% |
Return on Equity Simple (ROE_SIMPLE) |
0.64% |
2.02% |
1.93% |
Net Operating Profit after Tax (NOPAT) |
8.72 |
19 |
17 |
NOPAT Margin |
13.02% |
26.52% |
24.80% |
Net Nonoperating Expense Percent (NNEP) |
0.62% |
0.68% |
0.59% |
SG&A Expenses to Revenue |
4.21% |
5.97% |
8.00% |
Operating Expenses to Revenue |
86.98% |
73.48% |
75.20% |
Earnings before Interest and Taxes (EBIT) |
8.72 |
19 |
17 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
45 |
57 |
55 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
0.80 |
0.68 |
0.57 |
Price to Tangible Book Value (P/TBV) |
0.81 |
0.69 |
0.57 |
Price to Revenue (P/Rev) |
8.73 |
6.99 |
5.84 |
Price to Earnings (P/E) |
0.00 |
0.00 |
0.00 |
Dividend Yield |
3.24% |
4.03% |
5.20% |
Earnings Yield |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
0.85 |
0.81 |
0.74 |
Enterprise Value to Revenue (EV/Rev) |
17.18 |
14.89 |
13.47 |
Enterprise Value to EBITDA (EV/EBITDA) |
25.73 |
18.24 |
16.44 |
Enterprise Value to EBIT (EV/EBIT) |
131.90 |
56.14 |
54.31 |
Enterprise Value to NOPAT (EV/NOPAT) |
131.90 |
56.14 |
54.31 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
26.26 |
26.13 |
30.41 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
12.65 |
9.40 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.86 |
0.80 |
0.77 |
Long-Term Debt to Equity |
0.86 |
0.80 |
0.76 |
Financial Leverage |
0.98 |
0.83 |
0.78 |
Leverage Ratio |
2.13 |
1.96 |
1.92 |
Compound Leverage Factor |
2.11 |
1.85 |
1.89 |
Debt to Total Capital |
46.14% |
44.38% |
43.43% |
Short-Term Debt to Total Capital |
0.01% |
0.02% |
0.30% |
Long-Term Debt to Total Capital |
46.13% |
44.36% |
43.13% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
53.86% |
55.62% |
56.57% |
Debt to EBITDA |
14.02 |
10.00 |
9.65 |
Net Debt to EBITDA |
12.65 |
9.68 |
9.32 |
Long-Term Debt to EBITDA |
14.02 |
10.00 |
9.59 |
Debt to NOPAT |
71.87 |
30.77 |
31.89 |
Net Debt to NOPAT |
64.86 |
29.77 |
30.78 |
Long-Term Debt to NOPAT |
71.86 |
30.76 |
31.67 |
Noncontrolling Interest Sharing Ratio |
0.17% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-92 |
83 |
96 |
Operating Cash Flow to CapEx |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
-3.58 |
3.50 |
4.37 |
Operating Cash Flow to Interest Expense |
1.70 |
1.69 |
1.35 |
Operating Cash Flow Less CapEx to Interest Expense |
1.70 |
1.69 |
1.35 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.05 |
0.05 |
0.05 |
Fixed Asset Turnover |
0.05 |
0.05 |
0.06 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
1,358 |
1,294 |
1,215 |
Invested Capital Turnover |
0.05 |
0.05 |
0.05 |
Increase / (Decrease) in Invested Capital |
101 |
-64 |
-79 |
Enterprise Value (EV) |
1,150 |
1,047 |
899 |
Market Capitalization |
584 |
492 |
389 |
Book Value per Share |
$21.07 |
$20.08 |
$18.99 |
Tangible Book Value per Share |
$20.91 |
$19.95 |
$18.89 |
Total Capital |
1,358 |
1,294 |
1,215 |
Total Debt |
627 |
574 |
528 |
Total Long-Term Debt |
626 |
574 |
524 |
Net Debt |
565 |
556 |
509 |
Capital Expenditures (CapEx) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
4.00 |
4.09 |
3.25 |
Net Nonoperating Obligations (NNO) |
627 |
574 |
528 |
Total Depreciation and Amortization (D&A) |
36 |
39 |
38 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
($0.43) |
($0.28) |
($0.29) |
Adjusted Weighted Average Basic Shares Outstanding |
34.56M |
35.73M |
35.91M |
Adjusted Diluted Earnings per Share |
($0.43) |
($0.28) |
($0.29) |
Adjusted Weighted Average Diluted Shares Outstanding |
34.56M |
35.73M |
35.91M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
35.71M |
35.84M |
36.18M |
Normalized Net Operating Profit after Tax (NOPAT) |
6.10 |
13 |
13 |
Normalized NOPAT Margin |
9.12% |
18.56% |
19.57% |
Pre Tax Income Margin |
12.94% |
25.07% |
24.37% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
0.34 |
0.79 |
0.76 |
NOPAT to Interest Expense |
0.34 |
0.79 |
0.76 |
EBIT Less CapEx to Interest Expense |
0.34 |
0.79 |
0.76 |
NOPAT Less CapEx to Interest Expense |
0.34 |
0.79 |
0.76 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
783.74% |
309.58% |
333.66% |
Augmented Payout Ratio |
783.74% |
309.58% |
333.66% |
Quarterly Metrics And Ratios for Gladstone Land
This table displays calculated financial ratios and metrics derived from Gladstone Land's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
24.65% |
-91.24% |
19.45% |
-23.21% |
-26.12% |
485.78% |
-4.79% |
39.42% |
-2.88% |
-63.46% |
EBITDA Growth |
|
24.42% |
-157.00% |
-4.67% |
8.65% |
-30.12% |
163.82% |
55.87% |
-3.40% |
-30.66% |
-122.39% |
EBIT Growth |
|
17.96% |
-279.69% |
-15.25% |
9.53% |
-60.45% |
82.90% |
108.28% |
-3.64% |
-77.07% |
-262.53% |
NOPAT Growth |
|
17.96% |
-193.26% |
-15.25% |
9.53% |
-60.45% |
75.57% |
108.28% |
-32.55% |
-77.07% |
-262.53% |
Net Income Growth |
|
20.16% |
-44.17% |
47.43% |
1,181.40% |
73.92% |
63.87% |
675.26% |
-110.48% |
-99.81% |
-70.31% |
EPS Growth |
|
-100.00% |
-250.00% |
-50.00% |
145.45% |
20.00% |
7.14% |
275.00% |
-480.00% |
-100.00% |
-15.38% |
Operating Cash Flow Growth |
|
9.64% |
72.32% |
-37.59% |
51.36% |
-97.85% |
-15.89% |
-27.45% |
-10.92% |
-1,808.75% |
-33.53% |
Free Cash Flow Firm Growth |
|
53.00% |
50.26% |
87.91% |
96.84% |
121.68% |
152.70% |
376.17% |
1,342.64% |
168.98% |
9.44% |
Invested Capital Growth |
|
14.67% |
8.02% |
2.93% |
1.13% |
-2.32% |
-4.72% |
-4.38% |
-5.33% |
-7.13% |
-6.11% |
Revenue Q/Q Growth |
|
20.09% |
-91.03% |
-14.71% |
-34.38% |
15.53% |
-28.84% |
-26.03% |
-3.91% |
-19.52% |
-73.23% |
EBITDA Q/Q Growth |
|
16.78% |
-157.05% |
28.59% |
-5.11% |
-24.89% |
-47.90% |
18.80% |
-41.19% |
-46.08% |
-116.82% |
EBIT Q/Q Growth |
|
25.61% |
-305.76% |
79.37% |
-9.82% |
-54.65% |
-188.98% |
39.39% |
-58.28% |
-89.21% |
-1,506.56% |
NOPAT Q/Q Growth |
|
25.61% |
-244.03% |
156.25% |
-9.82% |
-54.65% |
-188.98% |
39.39% |
-70.80% |
-84.58% |
-1,506.56% |
Net Income Q/Q Growth |
|
194.62% |
-38.54% |
57.66% |
348.86% |
-60.01% |
-42.09% |
645.85% |
-106.07% |
100.73% |
8,900.00% |
EPS Q/Q Growth |
|
9.09% |
-40.00% |
14.29% |
141.67% |
-260.00% |
-62.50% |
261.54% |
-190.48% |
15.79% |
6.25% |
Operating Cash Flow Q/Q Growth |
|
-68.50% |
457.15% |
-77.24% |
278.94% |
-99.55% |
21,680.00% |
-80.37% |
365.29% |
-108.59% |
947.26% |
Free Cash Flow Firm Q/Q Growth |
|
16.81% |
29.12% |
70.75% |
78.28% |
670.72% |
72.26% |
-0.04% |
-2.25% |
23.54% |
-29.91% |
Invested Capital Q/Q Growth |
|
2.52% |
0.81% |
-1.76% |
-0.39% |
-0.98% |
-1.67% |
-1.41% |
-1.38% |
-2.86% |
-0.59% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
78.98% |
-502.05% |
79.47% |
114.92% |
74.71% |
54.70% |
130.11% |
79.62% |
53.34% |
-33.52% |
EBIT Margin |
|
40.55% |
-929.58% |
40.23% |
55.29% |
21.71% |
-27.14% |
88.02% |
38.21% |
5.13% |
-269.27% |
Profit (Net Income) Margin |
|
7.39% |
50.59% |
7.35% |
50.25% |
17.39% |
14.15% |
59.82% |
-3.78% |
0.03% |
11.50% |
Tax Burden Percent |
|
52.56% |
-53.88% |
69.12% |
90.88% |
80.13% |
71.39% |
94.17% |
814.85% |
0.96% |
40.60% |
Interest Burden Percent |
|
34.67% |
10.10% |
26.42% |
100.00% |
100.00% |
-73.05% |
72.17% |
-1.21% |
69.41% |
-10.52% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
2.89% |
-33.31% |
2.95% |
3.84% |
1.39% |
-1.44% |
6.27% |
2.05% |
0.40% |
-14.32% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
1.63% |
-30.94% |
1.71% |
3.72% |
1.27% |
-0.56% |
5.16% |
0.88% |
0.24% |
-11.93% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.70% |
-30.33% |
1.58% |
3.37% |
1.08% |
-0.46% |
4.07% |
0.70% |
0.19% |
-9.34% |
Return on Equity (ROE) |
|
4.59% |
-63.64% |
4.53% |
7.21% |
2.47% |
-1.90% |
10.34% |
2.75% |
0.58% |
-23.66% |
Cash Return on Invested Capital (CROIC) |
|
-10.14% |
-7.04% |
-0.40% |
1.41% |
4.42% |
6.25% |
8.52% |
9.53% |
11.28% |
7.62% |
Operating Return on Assets (OROA) |
|
2.70% |
-44.31% |
2.76% |
3.58% |
1.30% |
-1.34% |
5.86% |
2.72% |
0.37% |
-13.31% |
Return on Assets (ROA) |
|
0.49% |
2.41% |
0.50% |
3.25% |
1.05% |
0.70% |
3.98% |
-0.27% |
0.00% |
0.57% |
Return on Common Equity (ROCE) |
|
4.58% |
-63.53% |
4.52% |
7.21% |
2.47% |
-1.90% |
10.34% |
2.75% |
0.58% |
-23.66% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.79% |
0.00% |
0.72% |
1.70% |
1.89% |
0.00% |
3.65% |
2.50% |
2.11% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
9.91 |
-14 |
9.58 |
8.64 |
3.92 |
-3.49 |
20 |
5.83 |
0.90 |
-13 |
NOPAT Margin |
|
40.55% |
-650.71% |
40.23% |
55.29% |
21.71% |
-27.14% |
88.02% |
26.75% |
5.13% |
-269.27% |
Net Nonoperating Expense Percent (NNEP) |
|
1.26% |
-2.38% |
1.24% |
0.13% |
0.13% |
-0.88% |
1.11% |
1.16% |
0.16% |
-2.39% |
SG&A Expenses to Revenue |
|
2.89% |
32.59% |
4.74% |
5.67% |
4.04% |
11.34% |
3.87% |
5.59% |
7.87% |
39.57% |
Operating Expenses to Revenue |
|
59.45% |
1,029.58% |
59.77% |
44.71% |
78.29% |
127.14% |
11.98% |
61.79% |
94.87% |
369.27% |
Earnings before Interest and Taxes (EBIT) |
|
9.91 |
-20 |
9.58 |
8.64 |
3.92 |
-3.49 |
20 |
8.33 |
0.90 |
-13 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
19 |
-11 |
19 |
18 |
13 |
7.03 |
30 |
17 |
9.36 |
-1.57 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.82 |
0.80 |
0.77 |
0.75 |
0.67 |
0.68 |
0.65 |
0.69 |
0.72 |
0.57 |
Price to Tangible Book Value (P/TBV) |
|
0.82 |
0.81 |
0.77 |
0.76 |
0.67 |
0.69 |
0.65 |
0.69 |
0.72 |
0.57 |
Price to Revenue (P/Rev) |
|
6.43 |
8.73 |
5.83 |
6.04 |
5.71 |
6.99 |
5.06 |
4.92 |
5.04 |
5.84 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
245.13 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
3.22% |
3.24% |
3.48% |
3.54% |
4.05% |
4.03% |
4.24% |
4.10% |
4.03% |
5.20% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.41% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.88 |
0.85 |
0.84 |
0.83 |
0.80 |
0.81 |
0.76 |
0.78 |
0.83 |
0.74 |
Enterprise Value to Revenue (EV/Rev) |
|
13.15 |
17.18 |
11.63 |
11.98 |
12.25 |
14.89 |
10.45 |
9.97 |
10.29 |
13.47 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
15.73 |
25.73 |
16.16 |
15.51 |
16.08 |
18.24 |
10.59 |
10.84 |
11.67 |
16.44 |
Enterprise Value to EBIT (EV/EBIT) |
|
29.18 |
131.90 |
34.32 |
32.86 |
38.09 |
56.14 |
18.42 |
18.84 |
20.54 |
54.31 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
26.58 |
131.90 |
34.32 |
32.86 |
38.09 |
56.14 |
18.42 |
18.84 |
20.54 |
54.31 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
33.64 |
26.26 |
27.43 |
23.41 |
24.14 |
26.13 |
25.02 |
26.80 |
28.65 |
30.41 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
58.94 |
17.81 |
12.65 |
8.73 |
8.01 |
7.08 |
9.40 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.90 |
0.86 |
0.82 |
0.81 |
0.80 |
0.80 |
0.76 |
0.78 |
0.77 |
0.77 |
Long-Term Debt to Equity |
|
0.90 |
0.86 |
0.82 |
0.81 |
0.80 |
0.80 |
0.76 |
0.78 |
0.77 |
0.76 |
Financial Leverage |
|
1.05 |
0.98 |
0.92 |
0.91 |
0.85 |
0.83 |
0.79 |
0.79 |
0.78 |
0.78 |
Leverage Ratio |
|
2.19 |
2.13 |
2.05 |
2.05 |
1.98 |
1.96 |
1.91 |
1.93 |
1.91 |
1.92 |
Compound Leverage Factor |
|
0.76 |
0.21 |
0.54 |
2.05 |
1.98 |
-1.43 |
1.38 |
-0.02 |
1.33 |
-0.20 |
Debt to Total Capital |
|
47.50% |
46.14% |
44.91% |
44.69% |
44.40% |
44.38% |
43.29% |
43.68% |
43.43% |
43.43% |
Short-Term Debt to Total Capital |
|
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.02% |
0.02% |
0.02% |
0.02% |
0.30% |
Long-Term Debt to Total Capital |
|
47.49% |
46.13% |
44.90% |
44.68% |
44.40% |
44.36% |
43.27% |
43.66% |
43.41% |
43.13% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
52.50% |
53.86% |
55.09% |
55.31% |
55.60% |
55.62% |
56.71% |
56.32% |
56.57% |
56.57% |
Debt to EBITDA |
|
8.53 |
14.02 |
8.62 |
8.37 |
8.97 |
10.00 |
6.02 |
6.03 |
6.11 |
9.65 |
Net Debt to EBITDA |
|
8.03 |
12.65 |
8.06 |
7.69 |
8.59 |
9.68 |
5.46 |
5.49 |
5.95 |
9.32 |
Long-Term Debt to EBITDA |
|
8.53 |
14.02 |
8.62 |
8.37 |
8.97 |
10.00 |
6.02 |
6.03 |
6.10 |
9.59 |
Debt to NOPAT |
|
14.40 |
71.87 |
18.30 |
17.73 |
21.25 |
30.77 |
10.48 |
10.49 |
10.75 |
31.89 |
Net Debt to NOPAT |
|
13.57 |
64.86 |
17.12 |
16.29 |
20.34 |
29.77 |
9.50 |
9.54 |
10.48 |
30.78 |
Long-Term Debt to NOPAT |
|
14.40 |
71.86 |
18.30 |
17.73 |
21.25 |
30.76 |
10.47 |
10.48 |
10.75 |
31.67 |
Noncontrolling Interest Sharing Ratio |
|
0.17% |
0.17% |
0.33% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-162 |
-115 |
-28 |
-6.17 |
35 |
61 |
78 |
77 |
95 |
66 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
0.00 |
-4.47 |
0.00 |
-1.04 |
6.01 |
5.11 |
0.00 |
0.00 |
17.53 |
4.03 |
Operating Cash Flow to Interest Expense |
|
0.00 |
0.80 |
0.00 |
3.01 |
0.01 |
1.47 |
0.00 |
0.00 |
-0.25 |
0.70 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
0.80 |
0.00 |
3.01 |
0.01 |
1.47 |
0.00 |
0.00 |
-0.25 |
0.70 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.07 |
0.05 |
0.07 |
0.06 |
0.06 |
0.05 |
0.07 |
0.07 |
0.07 |
0.05 |
Fixed Asset Turnover |
|
0.07 |
0.05 |
0.07 |
0.07 |
0.06 |
0.05 |
0.07 |
0.08 |
0.08 |
0.06 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,347 |
1,358 |
1,334 |
1,329 |
1,316 |
1,294 |
1,275 |
1,258 |
1,222 |
1,215 |
Invested Capital Turnover |
|
0.07 |
0.05 |
0.07 |
0.07 |
0.06 |
0.05 |
0.07 |
0.08 |
0.08 |
0.05 |
Increase / (Decrease) in Invested Capital |
|
172 |
101 |
38 |
15 |
-31 |
-64 |
-58 |
-71 |
-94 |
-79 |
Enterprise Value (EV) |
|
1,180 |
1,150 |
1,123 |
1,100 |
1,047 |
1,047 |
971 |
987 |
1,014 |
899 |
Market Capitalization |
|
578 |
584 |
563 |
555 |
488 |
492 |
470 |
487 |
496 |
389 |
Book Value per Share |
|
$20.67 |
$21.07 |
$20.58 |
$20.58 |
$20.41 |
$20.08 |
$20.18 |
$19.77 |
$19.29 |
$18.99 |
Tangible Book Value per Share |
|
$20.50 |
$20.91 |
$20.42 |
$20.43 |
$20.27 |
$19.95 |
$20.06 |
$19.65 |
$19.18 |
$18.89 |
Total Capital |
|
1,347 |
1,358 |
1,334 |
1,329 |
1,316 |
1,294 |
1,275 |
1,258 |
1,222 |
1,215 |
Total Debt |
|
640 |
627 |
599 |
594 |
584 |
574 |
552 |
549 |
531 |
528 |
Total Long-Term Debt |
|
640 |
626 |
599 |
594 |
584 |
574 |
552 |
549 |
530 |
524 |
Net Debt |
|
603 |
565 |
560 |
546 |
559 |
556 |
501 |
500 |
517 |
509 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
8.11 |
-15 |
7.83 |
0.79 |
0.78 |
-5.31 |
6.40 |
6.65 |
0.89 |
-13 |
Net Nonoperating Obligations (NNO) |
|
640 |
627 |
599 |
594 |
584 |
574 |
552 |
549 |
531 |
528 |
Total Depreciation and Amortization (D&A) |
|
9.40 |
9.38 |
9.35 |
9.32 |
9.57 |
11 |
9.55 |
9.03 |
8.46 |
11 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.10) |
($0.14) |
($0.12) |
$0.05 |
($0.08) |
($0.13) |
$0.21 |
($0.19) |
($0.16) |
($0.15) |
Adjusted Weighted Average Basic Shares Outstanding |
|
34.61M |
34.56M |
35.55M |
35.72M |
35.82M |
35.73M |
35.84M |
35.84M |
35.84M |
35.91M |
Adjusted Diluted Earnings per Share |
|
($0.10) |
($0.14) |
($0.12) |
$0.05 |
($0.08) |
($0.13) |
$0.21 |
($0.19) |
($0.16) |
($0.15) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
34.61M |
34.56M |
35.55M |
35.72M |
35.82M |
35.73M |
35.84M |
35.84M |
35.84M |
35.91M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
34.70M |
35.71M |
35.71M |
35.84M |
35.84M |
35.84M |
35.84M |
35.84M |
36.18M |
36.18M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
6.94 |
-14 |
6.71 |
6.05 |
2.74 |
-2.44 |
14 |
5.83 |
2.10 |
-8.85 |
Normalized NOPAT Margin |
|
28.38% |
-650.71% |
28.16% |
38.70% |
15.19% |
-19.00% |
61.61% |
26.75% |
11.99% |
-188.49% |
Pre Tax Income Margin |
|
14.06% |
-93.89% |
10.63% |
55.29% |
21.71% |
19.83% |
63.52% |
-0.46% |
3.56% |
28.32% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.00 |
-0.79 |
0.00 |
1.45 |
0.67 |
-0.29 |
0.00 |
0.00 |
0.17 |
-0.77 |
NOPAT to Interest Expense |
|
0.00 |
-0.55 |
0.00 |
1.45 |
0.67 |
-0.29 |
0.00 |
0.00 |
0.17 |
-0.77 |
EBIT Less CapEx to Interest Expense |
|
0.00 |
-0.79 |
0.00 |
1.45 |
0.67 |
-0.29 |
0.00 |
0.00 |
0.17 |
-0.77 |
NOPAT Less CapEx to Interest Expense |
|
0.00 |
-0.55 |
0.00 |
1.45 |
0.67 |
-0.29 |
0.00 |
0.00 |
0.17 |
-0.77 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
618.34% |
783.74% |
745.27% |
331.65% |
319.46% |
309.58% |
172.70% |
257.94% |
304.61% |
333.66% |
Augmented Payout Ratio |
|
618.34% |
783.74% |
745.27% |
331.65% |
319.46% |
309.58% |
172.70% |
257.94% |
304.61% |
333.66% |
Key Financial Trends
Gladstone Land (NASDAQ:LANDO) has displayed mixed financial trends over the last four years, with some quarters showing profitability while others reflected losses. Here are the key insights from the recent quarterly financial statements:
- Q4 2024 showed a positive net income continuing operations of approximately $1.33 million, though net income attributable to common shareholders was a loss of about $5.46 million due to preferred dividends.
- Operating cash flow remained positive in Q4 2024 at around $11.58 million, indicating healthy cash generation from core business activities.
- Non-interest income has steadily contributed significantly to total revenue, with amounts around $21-24 million quarterly, supporting consistent top-line results.
- Total interest expense in Q4 2024 was about $16.5 million, increased compared to prior quarters, pointing to higher debt-related costs.
- Depreciation and amortization expenses remain substantial, roughly $8.6 million and $2.4 million respectively in Q4 2024, reflecting the company's significant investment in premises and equipment.
- Preferred stock dividends declared are sizable, consistently exceeding $5 million per quarter, which impacts net income available to common shareholders.
- Net income attributable to common shareholders has been negative in several recent quarters, including Q3 and Q4 2024, with quarterly EPS around -$0.15 to -$0.16, signaling ongoing profitability challenges for common shareholders.
- Q3 and Q2 2024 saw negative operating cash flow (-$1.37 million in Q3 and a slight operating loss in Q2) indicating possible short-term operational cash pressures during those periods.
- There has been continued repayment of long-term debt, with large repayments in Q3 2024 ($18.8 million) and significant dividend payments, which together place pressure on financing cash flows.
- The company's total liabilities have remained high, approximately $600-$700 million from 2022 through 2024, suggesting leverage remains elevated, which could be a risk factor in a rising interest rate environment.
Summary: Gladstone Land continues to generate strong non-interest income streams that support its revenue base, but faces pressure from recurring interest expenses and preferred dividend obligations that have led to losses for common shareholders recently. Positive cash flows in the latest quarter signal some operational strength, although volatility in quarterly earnings and cash flows over the periods indicates ongoing challenges. The company’s leverage remains elevated, suggesting investors should watch debt levels and coverage ratios closely as they evaluate Gladstone Land’s financial health and growth prospects.
10/07/25 02:01 PM ETAI Generated. May Contain Errors.