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Farmland Partners (Farmland Partners) Net-Net Working Capital : $-10.28 (As of Dec. 2023)


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What is Farmland Partners Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Farmland Partners's Net-Net Working Capital for the quarter that ended in Dec. 2023 was $-10.28.

The industry rank for Farmland Partners's Net-Net Working Capital or its related term are showing as below:

FPI's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 9.73
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Farmland Partners Net-Net Working Capital Historical Data

The historical data trend for Farmland Partners's Net-Net Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Farmland Partners Net-Net Working Capital Chart

Farmland Partners Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only Premium Member Only -26.39 -25.19 -13.81 -10.40 -10.28

Farmland Partners Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -10.40 -10.81 -12.04 -11.19 -10.28

Competitive Comparison of Farmland Partners's Net-Net Working Capital

For the REIT - Specialty subindustry, Farmland Partners's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Farmland Partners's Price-to-Net-Net-Working-Capital Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Farmland Partners's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Farmland Partners's Price-to-Net-Net-Working-Capital falls into.



Farmland Partners Net-Net Working Capital Calculation

Farmland Partners's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

Net-Net Working Capital(A: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(5.489+0.75 * 7.743+0.5 * 2.335-391.192
-0-114.928)/48.0027
=-10.28

Farmland Partners's Net-Net Working Capital (NNWC) per share for the quarter that ended in Dec. 2023 is calculated as

Net-Net Working Capital(Q: Dec. 2023 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(5.489+0.75 * 7.743+0.5 * 2.335-391.192
-0-114.928)/48.0027
=-10.28

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.


Farmland Partners  (NYSE:FPI) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.


Farmland Partners Net-Net Working Capital Related Terms

Thank you for viewing the detailed overview of Farmland Partners's Net-Net Working Capital provided by GuruFocus.com. Please click on the following links to see related term pages.


Farmland Partners (Farmland Partners) Business Description

Traded in Other Exchanges
Address
4600 South Syracuse Street, Suite 1450, Denver, CO, USA, 80237
Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America. The company is an internally managed real estate company and owns and contracts of farmland and storage facilities located across the United States. Its properties are farmed by over 100 tenants growing more than 26 commercial crops. Farmland Partners generates its revenues through the rent it receives from its tenants.
Executives
Paul A Pittman director, officer: President and CEO 4910 BIRCH ST., SUITE 102, NEWPORT BEACH CA 92660
Jennifer S Grafton director 9540 SOUTH MAROON CIRCLE, SUITE 200, ENGLEWOOD CO 80112
Murray R Wise director 2407 S NEIL PO BOX 3009, CHAMPAIGN IL 61826
Luca Fabbri officer: CFO, Secretary and Treasurer C/O FARMLAND PARTNERS INC., 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031
Christine M. Garrison officer: General Counsel and Secretary C/O FARMLAND PARTNERS INC., 4600 S. SYRACUSE STREET, SUITE 1450, DENVER CO 80237
John A Good director C/O JERNIGAN CAPITAL, INC., 1395 BRICKELL AVENUE, MIAMI FL 33131
Danny D. Moore director C/O FARMLAND PARTNERS INC., 4600 S. SYRACUSE STREET, SUITE 1450, DENVER CO 80237
James Gilligan officer: Chief Financial Officer C/O FARMLAND PARTNERS INC., 4600 S. SYRACUSE STREET, SUITE 1450, DENVER CO 80237
Thomas Heneghan director C/O MANUFACTURED HOME COMMUNITIES INC, 2 N RIVER PLAZA #800, CHICAGO IL 60606
Toby Orourke director FARMLAND PARTNERS INC., 4600 S. SYRACUSE STREET, SUITE 1450, DENVER CO 80237
Erica Borenstein officer: General Counsel and Secretary C/O FARMLAND PARTNERS INC., 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031
Chris A Downey director C/O FARMLAND PARTNERS INC., : 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031
Jay Bartels director C/O FARMLAND PARTNERS INC., 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031
Joseph W Glauber director FARMLAND PARTNERS INC., 8670 WOLFF COURT, SUITE 240, WESTMINSTER CO 80031
Dennie Dixon Boardman director C/O OPTIMA FUND MANAGEMENT LLC, 10 EAST 53RD STREET, NEW YORK NY 10022

Farmland Partners (Farmland Partners) Headlines