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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and Ladder Capital Corp (LADR). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $20.7M, roughly 1.1× Farmland Partners Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs 71.0%, a 32.4% gap on every dollar of revenue. On growth, Farmland Partners Inc. posted the faster year-over-year revenue change (-3.5% vs -18.0%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs -22.5%).
Farmland Industries was the largest agricultural cooperative in North America when it eventually sold all of its assets in 2002–04. During its 74-year history, Farmland served its farmer membership as a diversified, integrated organization, playing a significant role in agricultural markets both domestically and worldwide.
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
FPI vs LADR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $22.3M |
| Net Profit | $21.4M | $15.9M |
| Gross Margin | — | — |
| Operating Margin | — | 69.5% |
| Net Margin | 103.4% | 71.0% |
| Revenue YoY | -3.5% | -18.0% |
| Net Profit YoY | -63.5% | -49.4% |
| EPS (diluted) | $0.44 | $0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $20.7M | $22.3M | ||
| Q3 25 | $11.3M | $27.8M | ||
| Q2 25 | $10.0M | $21.5M | ||
| Q1 25 | $10.3M | $20.3M | ||
| Q4 24 | $21.5M | $27.2M | ||
| Q3 24 | $13.3M | $38.4M | ||
| Q2 24 | $11.4M | $34.3M | ||
| Q1 24 | $12.0M | $37.1M |
| Q4 25 | $21.4M | $15.9M | ||
| Q3 25 | $483.0K | $19.2M | ||
| Q2 25 | $7.6M | $17.1M | ||
| Q1 25 | $2.0M | $11.6M | ||
| Q4 24 | $58.7M | $31.3M | ||
| Q3 24 | $1.8M | $27.6M | ||
| Q2 24 | $-2.0M | $32.1M | ||
| Q1 24 | $1.4M | $16.4M |
| Q4 25 | — | 69.5% | ||
| Q3 25 | 4.3% | 72.4% | ||
| Q2 25 | 78.2% | 96.7% | ||
| Q1 25 | 20.6% | 52.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.9% | 74.1% | ||
| Q2 24 | -17.9% | 90.4% | ||
| Q1 24 | 11.9% | 49.4% |
| Q4 25 | 103.4% | 71.0% | ||
| Q3 25 | 4.3% | 69.0% | ||
| Q2 25 | 76.3% | 79.5% | ||
| Q1 25 | 19.9% | 56.8% | ||
| Q4 24 | 273.6% | 115.1% | ||
| Q3 24 | 13.5% | 71.7% | ||
| Q2 24 | -17.5% | 93.6% | ||
| Q1 24 | 11.5% | 44.2% |
| Q4 25 | $0.44 | $0.13 | ||
| Q3 25 | $0.00 | $0.15 | ||
| Q2 25 | $0.14 | $0.14 | ||
| Q1 25 | $0.03 | $0.09 | ||
| Q4 24 | $1.09 | $0.25 | ||
| Q3 24 | $0.02 | $0.22 | ||
| Q2 24 | $-0.06 | $0.26 | ||
| Q1 24 | $0.01 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $38.0M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $1.5B |
| Total Assets | $719.1M | $5.2B |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $38.0M | ||
| Q3 25 | — | $49.4M | ||
| Q2 25 | — | $134.9M | ||
| Q1 25 | — | $479.8M | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $161.6M | — | ||
| Q3 25 | $170.4M | — | ||
| Q2 25 | $193.4M | — | ||
| Q1 25 | $202.6M | — | ||
| Q4 24 | $204.6M | — | ||
| Q3 24 | $394.0M | — | ||
| Q2 24 | $393.0M | — | ||
| Q1 24 | $383.0M | — |
| Q4 25 | $467.4M | $1.5B | ||
| Q3 25 | $457.3M | $1.5B | ||
| Q2 25 | $473.5M | $1.5B | ||
| Q1 25 | $492.2M | $1.5B | ||
| Q4 24 | $494.6M | $1.5B | ||
| Q3 24 | $519.4M | $1.5B | ||
| Q2 24 | $521.5M | $1.5B | ||
| Q1 24 | $526.7M | $1.5B |
| Q4 25 | $719.1M | $5.2B | ||
| Q3 25 | $738.5M | $4.7B | ||
| Q2 25 | $776.7M | $4.5B | ||
| Q1 25 | $810.5M | $4.5B | ||
| Q4 24 | $869.6M | $4.8B | ||
| Q3 24 | $1.0B | $4.8B | ||
| Q2 24 | $1.0B | $4.8B | ||
| Q1 24 | $1.0B | $5.3B |
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.41× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.73× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $17.4M | $87.0M |
| Free Cash FlowOCF − Capex | — | $78.7M |
| FCF MarginFCF / Revenue | — | 352.4% |
| Capex IntensityCapex / Revenue | — | 37.4% |
| Cash ConversionOCF / Net Profit | 0.81× | 5.49× |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $87.0M | ||
| Q3 25 | $-2.0M | $26.3M | ||
| Q2 25 | $-2.2M | $44.0M | ||
| Q1 25 | $6.4M | $-28.7M | ||
| Q4 24 | $16.1M | $133.9M | ||
| Q3 24 | $-4.3M | $169.0M | ||
| Q2 24 | $-6.1M | $45.4M | ||
| Q1 24 | $11.9M | $-20.4M |
| Q4 25 | — | $78.7M | ||
| Q3 25 | — | $25.9M | ||
| Q2 25 | — | $43.4M | ||
| Q1 25 | — | $-29.6M | ||
| Q4 24 | — | $127.4M | ||
| Q3 24 | — | $166.0M | ||
| Q2 24 | — | $44.9M | ||
| Q1 24 | — | $-21.7M |
| Q4 25 | — | 352.4% | ||
| Q3 25 | — | 93.1% | ||
| Q2 25 | — | 201.6% | ||
| Q1 25 | — | -145.6% | ||
| Q4 24 | — | 468.2% | ||
| Q3 24 | — | 432.1% | ||
| Q2 24 | — | 131.0% | ||
| Q1 24 | — | -58.6% |
| Q4 25 | — | 37.4% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | 0.81× | 5.49× | ||
| Q3 25 | -4.04× | 1.37× | ||
| Q2 25 | -0.29× | 2.57× | ||
| Q1 25 | 3.12× | -2.49× | ||
| Q4 24 | 0.27× | 4.27× | ||
| Q3 24 | -2.39× | 6.13× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | 8.66× | -1.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
