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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and Maison Solutions Inc. (MSS). Click either name above to swap in a different company.

Maison Solutions Inc. is the larger business by last-quarter revenue ($27.6M vs $20.7M, roughly 1.3× Farmland Partners Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -18.0%, a 121.4% gap on every dollar of revenue. On growth, Farmland Partners Inc. posted the faster year-over-year revenue change (-3.5% vs -10.9%). Over the past eight quarters, Maison Solutions Inc.'s revenue compounded faster (42.5% CAGR vs 31.4%).

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.

Maison Solutions Inc. is a specialty home goods retail company that provides a diverse portfolio of stylish, affordably priced furniture, home decor items, and daily household products. Its primary market is the Guangdong-Hong Kong-Macao Greater Bay Area in China, serving mass consumers through both offline physical stores and online e-commerce channels.

FPI vs MSS — Head-to-Head

Bigger by revenue
MSS
MSS
1.3× larger
MSS
$27.6M
$20.7M
FPI
Growing faster (revenue YoY)
FPI
FPI
+7.4% gap
FPI
-3.5%
-10.9%
MSS
Higher net margin
FPI
FPI
121.4% more per $
FPI
103.4%
-18.0%
MSS
Faster 2-yr revenue CAGR
MSS
MSS
Annualised
MSS
42.5%
31.4%
FPI

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
FPI
FPI
MSS
MSS
Revenue
$20.7M
$27.6M
Net Profit
$21.4M
$-5.0M
Gross Margin
23.4%
Operating Margin
-4.9%
Net Margin
103.4%
-18.0%
Revenue YoY
-3.5%
-10.9%
Net Profit YoY
-63.5%
-1840.5%
EPS (diluted)
$0.44
$-0.23

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.

Revenue
FPI
FPI
MSS
MSS
Q4 25
$20.7M
$27.6M
Q3 25
$11.3M
$27.2M
Q2 25
$10.0M
$34.4M
Q1 25
$10.3M
$32.3M
Q4 24
$21.5M
$29.4M
Q3 24
$13.3M
$28.2M
Q2 24
$11.4M
$16.9M
Q1 24
$12.0M
$13.6M
Net Profit
FPI
FPI
MSS
MSS
Q4 25
$21.4M
$-5.0M
Q3 25
$483.0K
$-1.5M
Q2 25
$7.6M
$-287.4K
Q1 25
$2.0M
$1.0M
Q4 24
$58.7M
$-256.0K
Q3 24
$1.8M
$700.9K
Q2 24
$-2.0M
$-2.8M
Q1 24
$1.4M
$-549.0K
Gross Margin
FPI
FPI
MSS
MSS
Q4 25
23.4%
Q3 25
24.1%
Q2 25
9.5%
Q1 25
21.8%
Q4 24
26.9%
Q3 24
28.9%
Q2 24
13.0%
Q1 24
23.4%
Operating Margin
FPI
FPI
MSS
MSS
Q4 25
-4.9%
Q3 25
4.3%
0.7%
Q2 25
78.2%
-15.9%
Q1 25
20.6%
3.7%
Q4 24
3.2%
Q3 24
13.9%
7.3%
Q2 24
-17.9%
-14.4%
Q1 24
11.9%
-2.3%
Net Margin
FPI
FPI
MSS
MSS
Q4 25
103.4%
-18.0%
Q3 25
4.3%
-5.7%
Q2 25
76.3%
-0.8%
Q1 25
19.9%
3.1%
Q4 24
273.6%
-0.9%
Q3 24
13.5%
2.5%
Q2 24
-17.5%
-16.4%
Q1 24
11.5%
-4.0%
EPS (diluted)
FPI
FPI
MSS
MSS
Q4 25
$0.44
$-0.23
Q3 25
$0.00
$-0.08
Q2 25
$0.14
$-0.02
Q1 25
$0.03
$0.06
Q4 24
$1.09
$-0.01
Q3 24
$0.02
$0.04
Q2 24
$-0.06
$-0.16
Q1 24
$0.01
$-0.03

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FPI
FPI
MSS
MSS
Cash + ST InvestmentsLiquidity on hand
Total DebtLower is stronger
$161.6M
$2.6M
Stockholders' EquityBook value
$467.4M
$11.6M
Total Assets
$719.1M
$75.4M
Debt / EquityLower = less leverage
0.35×
0.22×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FPI
FPI
MSS
MSS
Q4 25
Q3 25
$1.1M
Q2 25
$775.4K
Q1 25
$445.4K
Q4 24
$355.7K
Q3 24
$588.9K
Q2 24
$2.1M
Q1 24
$9.4M
Total Debt
FPI
FPI
MSS
MSS
Q4 25
$161.6M
$2.6M
Q3 25
$170.4M
$2.6M
Q2 25
$193.4M
$2.6M
Q1 25
$202.6M
Q4 24
$204.6M
Q3 24
$394.0M
$2.5M
Q2 24
$393.0M
$2.6M
Q1 24
$383.0M
$2.6M
Stockholders' Equity
FPI
FPI
MSS
MSS
Q4 25
$467.4M
$11.6M
Q3 25
$457.3M
$10.1M
Q2 25
$473.5M
$11.7M
Q1 25
$492.2M
$12.0M
Q4 24
$494.6M
$10.9M
Q3 24
$519.4M
$11.2M
Q2 24
$521.5M
$10.5M
Q1 24
$526.7M
$13.3M
Total Assets
FPI
FPI
MSS
MSS
Q4 25
$719.1M
$75.4M
Q3 25
$738.5M
$73.3M
Q2 25
$776.7M
$77.4M
Q1 25
$810.5M
$82.7M
Q4 24
$869.6M
$82.7M
Q3 24
$1.0B
$82.1M
Q2 24
$1.0B
$82.4M
Q1 24
$1.0B
$44.2M
Debt / Equity
FPI
FPI
MSS
MSS
Q4 25
0.35×
0.22×
Q3 25
0.37×
0.26×
Q2 25
0.41×
0.22×
Q1 25
0.41×
Q4 24
0.41×
Q3 24
0.76×
0.23×
Q2 24
0.75×
0.24×
Q1 24
0.73×
0.19×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FPI
FPI
MSS
MSS
Operating Cash FlowLast quarter
$17.4M
$-1.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.81×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FPI
FPI
MSS
MSS
Q4 25
$17.4M
$-1.7M
Q3 25
$-2.0M
$1.1M
Q2 25
$-2.2M
$-1.6M
Q1 25
$6.4M
$1.7M
Q4 24
$16.1M
$1.1M
Q3 24
$-4.3M
$3.6M
Q2 24
$-6.1M
$-2.6M
Q1 24
$11.9M
$-1.4M
Cash Conversion
FPI
FPI
MSS
MSS
Q4 25
0.81×
Q3 25
-4.04×
Q2 25
-0.29×
Q1 25
3.12×
1.66×
Q4 24
0.27×
Q3 24
-2.39×
5.12×
Q2 24
Q1 24
8.66×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

FPI
FPI

Segment breakdown not available.

MSS
MSS

Perishables$14.4M52%
Nonperishables$13.2M48%

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