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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN). Click either name above to swap in a different company.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP is the larger business by last-quarter revenue ($23.6M vs $20.7M, roughly 1.1× Farmland Partners Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -677.3%, a 780.7% gap on every dollar of revenue. On growth, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP posted the faster year-over-year revenue change (15.7% vs -3.5%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs 8.9%).
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.
New England Realty Associates Limited Partnership is a real estate investment entity that owns, operates and manages residential and commercial properties primarily across the U.S. New England region. Its core assets include multifamily apartments, mixed-use properties and small commercial spaces, serving tenants across Massachusetts, New Hampshire and adjacent states, delivering steady returns to unitholders via rental income and property value growth.
FPI vs NEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $23.6M |
| Net Profit | $21.4M | $-1.4M |
| Gross Margin | — | — |
| Operating Margin | — | 14.0% |
| Net Margin | 103.4% | -677.3% |
| Revenue YoY | -3.5% | 15.7% |
| Net Profit YoY | -63.5% | -133.0% |
| EPS (diluted) | $0.44 | — |
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 | $23.6M | ||
| Q3 25 | $11.3M | $23.7M | ||
| Q2 25 | $10.0M | $21.2M | ||
| Q1 25 | $10.3M | $20.7M | ||
| Q4 24 | $21.5M | $20.4M | ||
| Q3 24 | $13.3M | $20.2M | ||
| Q2 24 | $11.4M | $20.1M | ||
| Q1 24 | $12.0M | $19.9M |
| Q4 25 | $21.4M | $-1.4M | ||
| Q3 25 | $483.0K | $-521.8K | ||
| Q2 25 | $7.6M | $4.1M | ||
| Q1 25 | $2.0M | $3.8M | ||
| Q4 24 | $58.7M | $4.2M | ||
| Q3 24 | $1.8M | $3.9M | ||
| Q2 24 | $-2.0M | $4.1M | ||
| Q1 24 | $1.4M | $3.5M |
| Q4 25 | — | 14.0% | ||
| Q3 25 | 4.3% | 20.0% | ||
| Q2 25 | 78.2% | 33.3% | ||
| Q1 25 | 20.6% | 30.1% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | 13.9% | 32.0% | ||
| Q2 24 | -17.9% | 32.6% | ||
| Q1 24 | 11.9% | 28.9% |
| Q4 25 | 103.4% | -677.3% | ||
| Q3 25 | 4.3% | -2.2% | ||
| Q2 25 | 76.3% | 19.5% | ||
| Q1 25 | 19.9% | 18.3% | ||
| Q4 24 | 273.6% | 20.7% | ||
| Q3 24 | 13.5% | 19.3% | ||
| Q2 24 | -17.5% | 20.3% | ||
| Q1 24 | 11.5% | 17.4% |
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.00 | — | ||
| Q2 25 | $0.14 | — | ||
| Q1 25 | $0.03 | — | ||
| Q4 24 | $1.09 | — | ||
| Q3 24 | $0.02 | — | ||
| Q2 24 | $-0.06 | — | ||
| Q1 24 | $0.01 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $26.7M |
| Total DebtLower is stronger | $161.6M | $531.0M |
| Stockholders' EquityBook value | $467.4M | — |
| Total Assets | $719.1M | $505.3M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $26.7M | ||
| Q3 25 | — | $13.4M | ||
| Q2 25 | — | $16.7M | ||
| Q1 25 | — | $30.9M | ||
| Q4 24 | — | $17.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $13.5M | ||
| Q1 24 | — | $28.8M |
| Q4 25 | $161.6M | $531.0M | ||
| Q3 25 | $170.4M | $514.2M | ||
| Q2 25 | $193.4M | $514.3M | ||
| Q1 25 | $202.6M | $407.8M | ||
| Q4 24 | $204.6M | $408.6M | ||
| Q3 24 | $394.0M | $409.3M | ||
| Q2 24 | $393.0M | $410.0M | ||
| Q1 24 | $383.0M | $410.7M |
| Q4 25 | $467.4M | — | ||
| Q3 25 | $457.3M | — | ||
| Q2 25 | $473.5M | — | ||
| Q1 25 | $492.2M | — | ||
| Q4 24 | $494.6M | — | ||
| Q3 24 | $519.4M | — | ||
| Q2 24 | $521.5M | — | ||
| Q1 24 | $526.7M | — |
| Q4 25 | $719.1M | $505.3M | ||
| Q3 25 | $738.5M | $492.9M | ||
| Q2 25 | $776.7M | $494.8M | ||
| Q1 25 | $810.5M | $385.2M | ||
| Q4 24 | $869.6M | $393.5M | ||
| Q3 24 | $1.0B | $387.4M | ||
| Q2 24 | $1.0B | $383.7M | ||
| Q1 24 | $1.0B | $381.2M |
| 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 | $27.7M |
| 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.
| Q4 25 | $17.4M | $27.7M | ||
| Q3 25 | $-2.0M | $2.3M | ||
| Q2 25 | $-2.2M | $12.5M | ||
| Q1 25 | $6.4M | $5.5M | ||
| Q4 24 | $16.1M | $31.9M | ||
| Q3 24 | $-4.3M | $8.5M | ||
| Q2 24 | $-6.1M | $5.4M | ||
| Q1 24 | $11.9M | $6.1M |
| Q4 25 | 0.81× | — | ||
| Q3 25 | -4.04× | — | ||
| Q2 25 | -0.29× | 3.02× | ||
| Q1 25 | 3.12× | 1.44× | ||
| Q4 24 | 0.27× | 7.57× | ||
| Q3 24 | -2.39× | 2.17× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | 8.66× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
