Farmland PartnersFPI +0.52%71 ROC (Joel Greenblatt) % is 9,180.95% as of Mar. 2026, which is 66% below its 10-year median of 27,078.58. GuruFocus rates FPI with a GF Score™ of 71/100 and a GF Value™ of $10.94 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 587 REITs companies, Farmland Partners ranks better than 92.5% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Farmland Partners's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9,180.95%.
The historical rank and industry rank for Farmland Partners's ROC (Joel Greenblatt) % or its related term are showing as below:
FPI'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 12297.63 Med: 27078.58 Max: 99999999.99
Current: 12297.63
During the past 13 years, Farmland Partners's highest ROC (Joel Greenblatt) % was 99999999.99%. The lowest was 12297.63%. And the median was 27078.58%.
FPI's ROC (Joel Greenblatt) % is ranked better than 92.5% of 587
companies
in the REITs industry
Industry Median: 174.41
vs FPI: 12297.63
Farmland Partners's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -3.20% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Farmland Partners ROC (Joel Greenblatt) % Related Terms
Farmland Partners ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Farmland Partners's ROC (Joel Greenblatt) % 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.
FPI vs LAND, NLCP, SELF: ROC (Joel Greenblatt) % Comparison
For the REIT - Specialty subindustry, Farmland Partners's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs REITs Industry
For the REITs industry and Real Estate sector, Farmland Partners's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Farmland Partners's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 9,180.95% mean?
Farmland Partners (FPI) has a ROC (Joel Greenblatt) % of 9,180.95% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Farmland Partners and its competitors. This is 66% below median its historical median of 27,078.58. Over the past decade, Farmland Partners' ROC (Joel Greenblatt) % has ranged from 12,297.63 to 99,999,999.99. According to the industry distribution chart, Farmland Partners ranks #44 out of 587 companies in the REITs industry, placing it in the top 7.5%.
Is Farmland Partners' ROC (Joel Greenblatt) % too high?
Farmland Partners' current ROC (Joel Greenblatt) % of 9,180.95% is 66% below median its 10-year median of 27,078.58. Over the past 10 years, this metric has ranged from a low of 12,297.63 to a high of 99,999,999.99. The REITs industry median ROC (Joel Greenblatt) % is 174.41. Farmland Partners' value of 9,180.95% is 5164% above this industry median. Based on the distribution chart, Farmland Partners ranks #44 out of 587 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Farmland Partners has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Farmland Partners' ROC (Joel Greenblatt) % compare to LAND and NLCP?
According to the REITs industry distribution chart, Farmland Partners ranks #44 out of 587 companies for ROC (Joel Greenblatt) %. This places Farmland Partners in the top 8% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 174.41. Farmland Partners' value of 9,180.95% is 5164% above this benchmark. Historically, Farmland Partners' own ROC (Joel Greenblatt) % has ranged from 12,297.63 to 99,999,999.99 over the past decade. While the company's 10-year median is 27,078.58 vs. the industry median of 174.41, 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 ROC (Joel Greenblatt) % for a REITs company?
The median ROC (Joel Greenblatt) % among REITs companies is 174.41, based on 587 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Farmland Partners's current ROC (Joel Greenblatt) % of 9,180.95% is 5164% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Farmland Partners and its competitors. For the REITs industry, the median ROC (Joel Greenblatt) % is 174.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Farmland Partners's current ROC (Joel Greenblatt) % is 9,180.95%, which is 66% below median its own 10-year median of 27,078.58. 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 Modestly Undervalued. The stock's GF Value™ is $10.94, compared to a current price of $9.71 — trading 11.2% below its estimated fair value. The current ROC (Joel Greenblatt) % is 9,180.95%, which is 66% below median its 10-year median of 27,078.58 and 5164% above the REITs industry median of 174.41. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Farmland Partners (FPI), the current ROC (Joel Greenblatt) % is 9,180.95% as of Mar. 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 $9.71 is trading 11.2% below its estimated GF Value™ of $10.94.
GuruFocus considers Farmland Partners to be Modestly Undervalued.
Key valuation signals for FPI:
ROC (Joel Greenblatt) %: 9,180.95% (66% below median its 10-year median of 27,078.58)
GF Value™: $10.94 vs. price of $9.71 (11.2% below fair value)
Industry Position: 5164% above the REITs median (#44 of 587)
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
Get the complete analysis for FPI
ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FPI has been successfully added to your 
