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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and Local Bounti Corporation (LOCL). Click either name above to swap in a different company.
Farmland Partners Inc. is the larger business by last-quarter revenue ($20.7M vs $12.5M, roughly 1.7× Local Bounti Corporation). Farmland Partners Inc. runs the higher net margin — 103.4% vs -69.8%, a 173.2% gap on every dollar of revenue. On growth, Local Bounti Corporation posted the faster year-over-year revenue change (23.7% vs -3.5%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs 21.9%).
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.
Local Bounti Corporation is a U.S.-based sustainable indoor agriculture firm growing fresh, pesticide-free leafy greens, herbs and produce via advanced hydroponic and vertical farming tech. It serves North American retail and food service partners, focusing on low environmental impact and stable year-round supply.
FPI vs LOCL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $12.5M |
| Net Profit | $21.4M | $-8.7M |
| Gross Margin | — | 12.2% |
| Operating Margin | — | -106.1% |
| Net Margin | 103.4% | -69.8% |
| Revenue YoY | -3.5% | 23.7% |
| Net Profit YoY | -63.5% | 76.0% |
| EPS (diluted) | $0.44 | $1.52 |
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 | $12.5M | ||
| Q3 25 | $11.3M | $12.2M | ||
| Q2 25 | $10.0M | $12.1M | ||
| Q1 25 | $10.3M | $11.6M | ||
| Q4 24 | $21.5M | $10.1M | ||
| Q3 24 | $13.3M | $10.2M | ||
| Q2 24 | $11.4M | $9.4M | ||
| Q1 24 | $12.0M | $8.4M |
| Q4 25 | $21.4M | $-8.7M | ||
| Q3 25 | $483.0K | $-26.4M | ||
| Q2 25 | $7.6M | $-21.6M | ||
| Q1 25 | $2.0M | $-37.7M | ||
| Q4 24 | $58.7M | $-36.3M | ||
| Q3 24 | $1.8M | $-34.3M | ||
| Q2 24 | $-2.0M | $-25.3M | ||
| Q1 24 | $1.4M | $-24.1M |
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | 12.2% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | — | 14.3% | ||
| Q1 24 | — | 9.4% |
| Q4 25 | — | -106.1% | ||
| Q3 25 | 4.3% | -149.4% | ||
| Q2 25 | 78.2% | -127.7% | ||
| Q1 25 | 20.6% | -135.6% | ||
| Q4 24 | — | -166.6% | ||
| Q3 24 | 13.9% | -176.0% | ||
| Q2 24 | -17.9% | -146.8% | ||
| Q1 24 | 11.9% | -122.9% |
| Q4 25 | 103.4% | -69.8% | ||
| Q3 25 | 4.3% | -216.6% | ||
| Q2 25 | 76.3% | -178.3% | ||
| Q1 25 | 19.9% | -324.6% | ||
| Q4 24 | 273.6% | -360.1% | ||
| Q3 24 | 13.5% | -335.2% | ||
| Q2 24 | -17.5% | -267.6% | ||
| Q1 24 | 11.5% | -286.9% |
| Q4 25 | $0.44 | $1.52 | ||
| Q3 25 | $0.00 | $-1.18 | ||
| Q2 25 | $0.14 | $-1.63 | ||
| Q1 25 | $0.03 | $-4.32 | ||
| Q4 24 | $1.09 | $-4.24 | ||
| Q3 24 | $0.02 | $-4.01 | ||
| Q2 24 | $-0.06 | $-3.00 | ||
| Q1 24 | $0.01 | $-2.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.2M |
| Total DebtLower is stronger | $161.6M | $483.1M |
| Stockholders' EquityBook value | $467.4M | $-166.2M |
| Total Assets | $719.1M | $410.5M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.2M | ||
| Q3 25 | — | $6.2M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $18.0M | ||
| Q4 24 | — | $937.0K | ||
| Q3 24 | — | $317.0K | ||
| Q2 24 | — | $9.7M | ||
| Q1 24 | — | $8.2M |
| Q4 25 | $161.6M | $483.1M | ||
| Q3 25 | $170.4M | $484.9M | ||
| Q2 25 | $193.4M | $478.3M | ||
| Q1 25 | $202.6M | $480.0M | ||
| Q4 24 | $204.6M | $436.8M | ||
| Q3 24 | $394.0M | $398.4M | ||
| Q2 24 | $393.0M | $374.0M | ||
| Q1 24 | $383.0M | $329.8M |
| Q4 25 | $467.4M | $-166.2M | ||
| Q3 25 | $457.3M | $-158.1M | ||
| Q2 25 | $473.5M | $-132.7M | ||
| Q1 25 | $492.2M | $-134.5M | ||
| Q4 24 | $494.6M | $-100.5M | ||
| Q3 24 | $519.4M | $-65.6M | ||
| Q2 24 | $521.5M | $-32.8M | ||
| Q1 24 | $526.7M | $-9.4M |
| Q4 25 | $719.1M | $410.5M | ||
| Q3 25 | $738.5M | $417.8M | ||
| Q2 25 | $776.7M | $426.8M | ||
| Q1 25 | $810.5M | $447.2M | ||
| Q4 24 | $869.6M | $428.0M | ||
| Q3 24 | $1.0B | $430.8M | ||
| Q2 24 | $1.0B | $438.1M | ||
| Q1 24 | $1.0B | $413.4M |
| 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 | $-3.1M |
| Free Cash FlowOCF − Capex | — | $-3.6M |
| FCF MarginFCF / Revenue | — | -29.1% |
| Capex IntensityCapex / Revenue | — | 3.9% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-42.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $-3.1M | ||
| Q3 25 | $-2.0M | $-8.9M | ||
| Q2 25 | $-2.2M | $-8.7M | ||
| Q1 25 | $6.4M | $-9.6M | ||
| Q4 24 | $16.1M | $1.2M | ||
| Q3 24 | $-4.3M | $-17.2M | ||
| Q2 24 | $-6.1M | $-4.0M | ||
| Q1 24 | $11.9M | $-7.1M |
| Q4 25 | — | $-3.6M | ||
| Q3 25 | — | $-10.1M | ||
| Q2 25 | — | $-14.6M | ||
| Q1 25 | — | $-14.5M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | — | $-30.0M | ||
| Q2 24 | — | $-28.8M | ||
| Q1 24 | — | $-42.1M |
| Q4 25 | — | -29.1% | ||
| Q3 25 | — | -82.8% | ||
| Q2 25 | — | -121.0% | ||
| Q1 25 | — | -125.1% | ||
| Q4 24 | — | -85.3% | ||
| Q3 24 | — | -293.1% | ||
| Q2 24 | — | -305.4% | ||
| Q1 24 | — | -501.8% |
| Q4 25 | — | 3.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 42.8% | ||
| Q4 24 | — | 97.6% | ||
| Q3 24 | — | 125.0% | ||
| Q2 24 | — | 263.0% | ||
| Q1 24 | — | 417.3% |
| Q4 25 | 0.81× | — | ||
| Q3 25 | -4.04× | — | ||
| Q2 25 | -0.29× | — | ||
| Q1 25 | 3.12× | — | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | -2.39× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
