Farmland PartnersFPI -0.81%71 PB Ratio is 0.93 as of Jun. 29, 2026, which is 9% below its 10-year median of 1.02. GuruFocus rates FPI with a GF Score™ of 71/100 and a GF Value™ of $10.91 (Fairly Valued). The stock has 5 warning signs investors should review. Among 933 REITs companies, Farmland Partners ranks worse than 58.52% on this metric.
Farmland Partners Inc stock PB Ratio (=0.94) is close to 5-year low of 0.9.
The historical rank and industry rank for Farmland Partners's PB Ratio or its related term are showing as below:
FPI'
s PB Ratio Range Over the Past 10 Years
Min: 0.48 Med: 1.02 Max: 1.56
Current: 0.93
During the past 13 years, Farmland Partners's highest PB Ratio was 1.56. The lowest was 0.48. And the median was 1.02.
FPI's PB Ratio is ranked worse than 58.52% of 933
companies
in the REITs industry
Industry Median: 0.87
vs FPI: 0.93
During the past 12 months, Farmland Partners's average Book Value Per Share Growth Rate was 1.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -0.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 2.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 1.70% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Farmland Partners was 377.70% per year. The lowest was -0.80% per year. And the median was 1.95% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Farmland Partners PB Ratio Related Terms
Farmland Partners PB Ratio Historical Data
* Premium members only.
The historical data trend for Farmland Partners's PB Ratio 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.
For the REIT - Specialty subindustry, Farmland Partners's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Farmland Partners's PB Ratio distribution charts can be found below:
* The bar in red indicates where Farmland Partners's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Farmland Partners (FPI) has a PB Ratio of 0.93 as of Jun. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Farmland Partners and its competitors. This is near median its historical median of 1.02. Over the past decade, Farmland Partners' PB Ratio has ranged from 0.48 to 1.56. According to the industry distribution chart, Farmland Partners ranks #546 out of 933 companies in the REITs industry, placing it in the top 58.5%.
Is Farmland Partners' PB Ratio too high?
Farmland Partners' current PB Ratio of 0.93 is near median its 10-year median of 1.02. Over the past 10 years, this metric has ranged from a low of 0.48 to a high of 1.56. The REITs industry median PB Ratio is 0.87. Farmland Partners' value of 0.93 is 6.9% above this industry median. Based on the distribution chart, Farmland Partners ranks #546 out of 933 companies in the REITs industry, which is below the industry midpoint. Overall, Farmland Partners has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Farmland Partners' PB Ratio compare to LAND and NLCP?
According to the REITs industry distribution chart, Farmland Partners ranks #546 out of 933 companies for PB Ratio. This places Farmland Partners in the lower half of its industry. The industry median PB Ratio is 0.87. Farmland Partners' value of 0.93 is 6.9% above this benchmark. Historically, Farmland Partners' own PB Ratio has ranged from 0.48 to 1.56 over the past decade. While the company's 10-year median is 1.02 vs. the industry median of 0.87, Farmland Partners has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 933 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Farmland Partners's current PB Ratio of 0.93 is 6.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Farmland Partners and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Farmland Partners's current PB Ratio is 0.93, which is near median its own 10-year median of 1.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Farmland Partners stock overvalued right now?
Based on GuruFocus' analysis, Farmland Partners (FPI) is currently considered Fairly Valued. The stock's GF Value™ is $10.91, compared to a current price of $9.83 — trading 9.9% below its estimated fair value. The current PB Ratio is 0.93, which is near median its 10-year median of 1.02 and 6.9% above the REITs industry median of 0.87. Farmland Partners' overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Farmland Partners (FPI), the current PB Ratio is 0.93 as of Jun. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Farmland Partners (FPI) Overvalued in 2026?
Based on GuruFocus' analysis, Farmland Partners stock appears to be undervalued.
The current stock price of $9.83 is trading 9.9% below its estimated GF Value™ of $10.91.
GuruFocus considers Farmland Partners to be Fairly Valued.
Key valuation signals for FPI:
PB Ratio: 0.93 (near median its 10-year median of 1.02)
GF Value™: $10.91 vs. price of $9.83 (9.9% below fair value)
Industry Position: 6.9% above the REITs median (#546 of 933)
No single metric tells the full story. See the FPI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America. The company is an internally managed real estate company which owns and contracts farmland and storage facilities located across the United States. Majority of the properties in its portfolio are used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and rest to produce specialty crops, such as almonds, pictachios, citrus, avacados, strawberies, and edible beans. The company generates its revenues through the rent it receives from its tenants.
71GF Score
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