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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $20.7M, roughly 1.8× Farmland Partners Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -8.9%, a 112.3% gap on every dollar of revenue. On growth, SmartRent, Inc. posted the faster year-over-year revenue change (3.1% vs -3.5%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
FPI vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $36.5M |
| Net Profit | $21.4M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | — | -10.9% |
| Net Margin | 103.4% | -8.9% |
| Revenue YoY | -3.5% | 3.1% |
| Net Profit YoY | -63.5% | 71.6% |
| EPS (diluted) | $0.44 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $11.3M | $36.2M | ||
| Q2 25 | $10.0M | $38.3M | ||
| Q1 25 | $10.3M | $41.3M | ||
| Q4 24 | $21.5M | $35.4M | ||
| Q3 24 | $13.3M | $40.5M | ||
| Q2 24 | $11.4M | $48.5M | ||
| Q1 24 | $12.0M | $50.5M |
| Q4 25 | $21.4M | $-3.2M | ||
| Q3 25 | $483.0K | $-6.3M | ||
| Q2 25 | $7.6M | $-10.9M | ||
| Q1 25 | $2.0M | $-40.2M | ||
| Q4 24 | $58.7M | $-11.4M | ||
| Q3 24 | $1.8M | $-9.9M | ||
| Q2 24 | $-2.0M | $-4.6M | ||
| Q1 24 | $1.4M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | — | -10.9% | ||
| Q3 25 | 4.3% | -19.4% | ||
| Q2 25 | 78.2% | -30.5% | ||
| Q1 25 | 20.6% | -99.9% | ||
| Q4 24 | — | -36.6% | ||
| Q3 24 | 13.9% | -29.0% | ||
| Q2 24 | -17.9% | -14.3% | ||
| Q1 24 | 11.9% | -20.1% |
| Q4 25 | 103.4% | -8.9% | ||
| Q3 25 | 4.3% | -17.3% | ||
| Q2 25 | 76.3% | -28.3% | ||
| Q1 25 | 19.9% | -97.2% | ||
| Q4 24 | 273.6% | -32.3% | ||
| Q3 24 | 13.5% | -24.5% | ||
| Q2 24 | -17.5% | -9.5% | ||
| Q1 24 | 11.5% | -15.2% |
| Q4 25 | $0.44 | $-0.02 | ||
| Q3 25 | $0.00 | $-0.03 | ||
| Q2 25 | $0.14 | $-0.06 | ||
| Q1 25 | $0.03 | $-0.21 | ||
| Q4 24 | $1.09 | $-0.06 | ||
| Q3 24 | $0.02 | $-0.05 | ||
| Q2 24 | $-0.06 | $-0.02 | ||
| Q1 24 | $0.01 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $104.5M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $232.1M |
| Total Assets | $719.1M | $320.9M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $104.5M | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $105.0M | ||
| Q1 25 | — | $125.6M | ||
| Q4 24 | — | $142.5M | ||
| Q3 24 | — | $163.4M | ||
| Q2 24 | — | $187.4M | ||
| Q1 24 | — | $204.7M |
| 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 | $232.1M | ||
| Q3 25 | $457.3M | $234.4M | ||
| Q2 25 | $473.5M | $238.8M | ||
| Q1 25 | $492.2M | $250.7M | ||
| Q4 24 | $494.6M | $289.4M | ||
| Q3 24 | $519.4M | $305.1M | ||
| Q2 24 | $521.5M | $329.4M | ||
| Q1 24 | $526.7M | $333.1M |
| Q4 25 | $719.1M | $320.9M | ||
| Q3 25 | $738.5M | $335.8M | ||
| Q2 25 | $776.7M | $354.0M | ||
| Q1 25 | $810.5M | $366.1M | ||
| Q4 24 | $869.6M | $420.2M | ||
| Q3 24 | $1.0B | $448.6M | ||
| Q2 24 | $1.0B | $475.3M | ||
| Q1 24 | $1.0B | $485.5M |
| 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 | $7.7M |
| Free Cash FlowOCF − Capex | — | $7.7M |
| FCF MarginFCF / Revenue | — | 21.0% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $7.7M | ||
| Q3 25 | $-2.0M | $-2.1M | ||
| Q2 25 | $-2.2M | $-14.9M | ||
| Q1 25 | $6.4M | $-12.2M | ||
| Q4 24 | $16.1M | $-12.0M | ||
| Q3 24 | $-4.3M | $-3.7M | ||
| Q2 24 | $-6.1M | $-13.9M | ||
| Q1 24 | $11.9M | $-3.3M |
| Q4 25 | — | $7.7M | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | $-14.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | -6.1% | ||
| Q2 25 | — | -42.3% | ||
| Q1 25 | — | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | — | -9.7% | ||
| Q2 24 | — | -29.1% | ||
| Q1 24 | — | -6.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 0.1% |
| 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.
Revenue Breakdown by Segment
FPI
Segment breakdown not available.
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
