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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and Seritage Growth Properties (SRG). Click either name above to swap in a different company.
Farmland Partners Inc. is the larger business by last-quarter revenue ($20.7M vs $4.2M, roughly 5.0× Seritage Growth Properties). On growth, Farmland Partners Inc. posted the faster year-over-year revenue change (-3.5% vs -4.9%). 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.
Seritage Growth Properties is a U.S.-headquartered publicly traded real estate investment trust. It owns, redevelops, and manages a diversified portfolio of retail, residential, and mixed-use commercial properties across key U.S. markets, leasing spaces to retail, dining, and service sector tenants.
FPI vs SRG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $4.2M |
| Net Profit | $21.4M | — |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 103.4% | — |
| Revenue YoY | -3.5% | -4.9% |
| Net Profit YoY | -63.5% | 55.2% |
| 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 | $4.2M | ||
| Q3 25 | $11.3M | $4.8M | ||
| Q2 25 | $10.0M | $4.7M | ||
| Q1 25 | $10.3M | $4.6M | ||
| Q4 24 | $21.5M | $4.4M | ||
| Q3 24 | $13.3M | $3.3M | ||
| Q2 24 | $11.4M | $4.2M | ||
| Q1 24 | $12.0M | $5.8M |
| Q4 25 | $21.4M | — | ||
| Q3 25 | $483.0K | $-12.4M | ||
| Q2 25 | $7.6M | $-28.5M | ||
| Q1 25 | $2.0M | $-22.2M | ||
| Q4 24 | $58.7M | — | ||
| Q3 24 | $1.8M | $-22.0M | ||
| Q2 24 | $-2.0M | $-101.2M | ||
| Q1 24 | $1.4M | $-19.0M |
| Q4 25 | — | — | ||
| Q3 25 | 4.3% | -258.0% | ||
| Q2 25 | 78.2% | -610.2% | ||
| Q1 25 | 20.6% | -486.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.9% | -673.2% | ||
| Q2 24 | -17.9% | -2366.1% | ||
| Q1 24 | 11.9% | -328.7% |
| Q4 25 | 103.4% | — | ||
| Q3 25 | 4.3% | -259.6% | ||
| Q2 25 | 76.3% | -612.6% | ||
| Q1 25 | 19.9% | -482.8% | ||
| Q4 24 | 273.6% | — | ||
| Q3 24 | 13.5% | -675.9% | ||
| Q2 24 | -17.5% | -2401.0% | ||
| Q1 24 | 11.5% | -328.9% |
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.00 | $-0.24 | ||
| Q2 25 | $0.14 | $-0.53 | ||
| Q1 25 | $0.03 | $-0.42 | ||
| Q4 24 | $1.09 | — | ||
| Q3 24 | $0.02 | $-0.41 | ||
| Q2 24 | $-0.06 | $-1.82 | ||
| Q1 24 | $0.01 | $-0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $48.1M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $331.4M |
| Total Assets | $719.1M | $393.8M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $48.1M | ||
| Q3 25 | — | $51.5M | ||
| Q2 25 | — | $71.8M | ||
| Q1 25 | — | $94.3M | ||
| Q4 24 | — | $85.2M | ||
| Q3 24 | — | $85.6M | ||
| Q2 24 | — | $86.7M | ||
| Q1 24 | — | $114.9M |
| 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 | $331.4M | ||
| Q3 25 | $457.3M | $337.7M | ||
| Q2 25 | $473.5M | $351.4M | ||
| Q1 25 | $492.2M | $381.1M | ||
| Q4 24 | $494.6M | $404.5M | ||
| Q3 24 | $519.4M | $417.5M | ||
| Q2 24 | $521.5M | $440.4M | ||
| Q1 24 | $526.7M | $542.4M |
| Q4 25 | $719.1M | $393.8M | ||
| Q3 25 | $738.5M | $558.6M | ||
| Q2 25 | $776.7M | $575.7M | ||
| Q1 25 | $810.5M | $649.7M | ||
| Q4 24 | $869.6M | $677.8M | ||
| Q3 24 | $1.0B | $735.0M | ||
| Q2 24 | $1.0B | $758.3M | ||
| Q1 24 | $1.0B | $914.6M |
| 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 | $-34.9M |
| 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 | $-34.9M | ||
| Q3 25 | $-2.0M | $-12.5M | ||
| Q2 25 | $-2.2M | $-12.0M | ||
| Q1 25 | $6.4M | $-9.2M | ||
| Q4 24 | $16.1M | $-53.5M | ||
| Q3 24 | $-4.3M | $-15.5M | ||
| Q2 24 | $-6.1M | $-7.5M | ||
| Q1 24 | $11.9M | $-16.6M |
| 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.
