FPI vs JOE vs LAND Stock Comparison

Farmland Partners, St Joe and Gladstone Land Prices as of Oct 26, 2026 Peers: Industry group
FPI Farmland Partners Inc.
$10.24 -5.7% 1M +0.1% 1Y
Market cap
$445.61M
P/E
18.4x
Revenue (TTM)
$51.47M
Div. yield
0.05%
Farmland REITs Real Estate
5 wins
JOE ST JOE Co
$68.17 +4.3% 1M +33.5% 1Y
Market cap
$3.91B
P/E
31.8x
Revenue (TTM)
$547.84M
Div. yield
0.01%
Real Estate Development Real Estate
5 wins
LAND GLADSTONE LAND Corp
$8.88 -6.3% 1M -3.1% 1Y
Market cap
$379.12M
P/E
–
Revenue (TTM)
$88.48M
Div. yield
0.06%
Farmland REITs Real Estate
1 win

Head to Head

11 decided of 12

St Joe leads on 5 of the 12 questions below (St Joe 5, Farmland Partners 5, Gladstone Land 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFPIJOELANDLeader
Larger companyMarket capitalisation $445.61M $3.91B $379.12M JOE
Cheaper on earningsLower P/E, profitable companies only 18.4x 31.8x -13.0x FPI
Cheaper on forward earningsLower price / next fiscal year consensus EPS 46.5x 88.5x — FPI
Faster revenue growthRevenue growth, trailing twelve months -6.4% +28.4% +21.6% JOE
More profitableNet margin, trailing twelve months 47.0% 22.5% -33.0% FPI
Better return on capitalReturn on invested capital 2.6% — — –
Less leveragedLower net debt / EBITDA 9.8x — 13.4x FPI
Higher dividend yieldTrailing dividend yield 0.05% 0.01% 0.06% LAND
Better 1-year returnPrice return, last 12 months +0.1% +33.5% -3.1% JOE
Better 5-year returnAnnualised price return, 5 years -3.2%/yr +7.8%/yr -17.4%/yr JOE
Less volatileAnnualised volatility, 1 year 24.3% 30.0% 28.0% FPI
Higher overall scoreMean of the five percentile scores vs peers 57/100 70/100 49/100 JOE

Percentile Scorecard

FPIJOELAND

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisFPIJOELAND
Valuation 44 #122 of 216 55 #18 of 39 53 #103 of 216
Growth 38 #126 of 204 88 #5 of 33 39 #125 of 204
Profitability 59 #80 of 195 93 #3 of 30 27 #142 of 195
Financial Health 64 #75 of 208 60 #16 of 38 46 #112 of 208
Shareholder Returns 77 #38 of 164 54 #7 of 14 80 #34 of 164
Overall 57 70 49
  • FPI ranked among 224 companies in Real Estate
  • JOE ranked among 42 companies in Property Developers
  • LAND ranked among 224 companies in Real Estate

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodFPIJOELANDSPY
1 month -5.7%+4.3%-6.3% -0.8%
3 months +6.4%+10.0%+4.5% +3.5%
6 months -12.3%-4.4%-10.4% +7.0%
Year to date +5.7%+14.8%-3.0% +12.2%
1 year +0.1%+33.5%-3.1% +13.0%
3 years -1.6%+47.6%-34.6% +86.3%
3 years, per year -0.5%+13.9%-13.2% +23.1%
5 years -15.0%+45.5%-61.6% +68.6%
5 years, per year -3.2%+7.8%-17.4% +11.0%
10 years -4.7%+281.9%-15.3% +258.0%
10 years, per year -0.5%+14.3%-1.6% +13.6%

Risk

MeasureFPIJOELANDSPY
Volatility, 1Y 24.3%30.0%28.0% 12.7%
Downside volatility, 1Y 26.9%26.6%26.3% 12.7%
Beta vs S&P 500, 1Y 0.280.480.39 1.00
Return / volatility, 1Y 0.001.12-0.11 1.02
Max drawdown, 5Y -42.7%-48.7%-80.7% -25.4%
From 52-week high -21.5%-6.3%-29.0% -1.8%
52-week high $13.04$72.79$12.50 $779.14
52-week low $9.34$49.03$8.06 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleFPIJOELAND
P/E now vs peer median 18.4xmedian 24.8x 31.7xmedian 7.8x -13.0xmedian 24.8x
P/S now vs peer median 8.7xmedian 3.8x 7.1xmedian 4.9x 4.3xmedian 3.8x
EV/EBITDA now vs peer median 30.6xmedian 14.1x 17.7xmedian 11.2x 24.5xmedian 14.1x
P/FCF now vs peer median 26.8xmedian 19.3x 20.3xmedian 6.4x 15.4xmedian 19.3x
P/B now vs peer median 1.0xmedian 1.2x 5.0xmedian 0.6x 0.6xmedian 1.2x
PEG now vs peer median 0.56median 1.56 2.33median 0.33 0.43median 1.56

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsFPIJOELAND
Revenue $51.47M $547.84M $88.48M
Gross profit $47.81M $241.34M $57.93M
Operating income $18.09M $165.33M -$1.31M
Net income $26.06M $123.71M -$6.47M
Free cash flow $16.70M $191.24M $24.81M
EPS (diluted) $0.56 $2.15 $-0.68
Cash & equivalents $11.42M $117.32M $22.55M
Total debt $223.90M – $486.03M
Shares (diluted) 43.37M 57.17M 42.91M
Enterprise value $393.68M $3.40B $309.46M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricFPIJOELAND
P/E 18.4x 31.7x -13.0x
P/FCF 26.8x 20.3x 15.4x
P/Operating cash flow 24.3x 17.9x 13.8x
P/S 8.7x 7.1x 4.3x
P/B 1.0x 5.0x 0.6x
P/Tangible book 1.0x 5.0x 0.6x
EV/EBITDA 30.6x 17.7x 24.5x
EV/EBIT 36.4x 22.8x -646.2x
EV/Revenue 12.8x 6.9x 9.6x
EV/FCF 39.5x 19.7x 34.1x
EV/Operating cash flow 35.8x 17.4x 30.4x
PEG (3Y EPS CAGR) 0.56 2.33 0.43

Growth

14 metrics
MetricFPIJOELAND
Revenue growth (1Y) -6.4% 28.4% 21.6%
Revenue CAGR (3Y) -4.6% 19.6% -1.1%
Gross profit growth (1Y) -4.8% 38.5% 93.4%
Gross profit CAGR (3Y) -4.0% – –
Operating income growth (1Y) 1,339% 63.9% -114.1%
Operating income CAGR (3Y) -10.0% 29.8% –
Net income growth (1Y) -63.8% 52.3% -183.2%
Net income CAGR (3Y) 14.3% 14.2% -36.0%
EPS growth (1Y) -54.9% 51.0% -53.8%
EPS CAGR (3Y) 33.1% 13.6% -30.3%
Operating cash flow growth (1Y) 26.9% 84.3% 49.2%
Operating cash flow CAGR (3Y) 0.8% 44.3% -16.1%
Free cash flow growth (1Y) 203.3% 134.2% 122.8%
Free cash flow CAGR (3Y) 40.5% 47.3% 80.3%

Profitability

14 metrics
MetricFPIJOELAND
Gross margin 92.9% 44.1% 65.5%
EBITDA margin 41.9% 38.7% 39.1%
Operating margin 35.2% 30.2% -1.5%
Pretax margin 50.6% 30.3% -23.6%
Net margin 47.0% 22.5% -33.0%
FCF margin 32.4% 34.9% 28.0%
Operating cash flow margin 35.8% 39.6% 31.4%
Return on equity 5.6% 16.0% -0.6%
Return on assets 3.7% 8.2% -0.4%
Return on invested capital 2.6% – –
Return on capital employed – – –
Asset turnover 0.1x 0.4x 0.1x
Cash conversion (OCF / net income) 0.7x 1.8x -4.3x
Stock comp / revenue 3.9% 0.2% –

Financial Health

11 metrics
MetricFPIJOELAND
Debt / assets 32.0% – 40.8%
Debt / equity 0.5x – 0.7x
Net debt / EBITDA 9.8x – 13.4x
Debt / FCF 13.4x – 19.6x
Liabilities / assets 33.8% 48.8% 43.5%
Equity / assets 66.2% 51.2% 56.5%
Interest coverage 1.7x 5.7x -0.1x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricFPIJOELAND
Dividend yield 5.2% 0.9% 6.6%
Net buyback yield 18.3% 1.6% 1.0%
Shareholder yield 23.5% 2.5% 7.7%
Payout ratio (earnings) 78.2% 28.8% -342.1%
Payout ratio (FCF) 122.0% 18.7% 89.2%
Dividend growth (1Y) -68.3% 9.2% 9.4%
Dividend CAGR (3Y) 16.6% 15.2% 4.5%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusFPIJOELAND
Forward P/E 46.5xFY2026 88.5xFY2026 –
EPS, next fiscal year $0.22FY2026 $0.77FY2026 $-0.47FY2026
EPS growth, next FY -63.9%FY2026 -42.1%FY2026 –
EPS growth, the year after -13.6% – –
Revenue, next fiscal year $32.83MFY2026 $273.72MFY2026 $71.55MFY2026
Revenue growth, next FY -8.6%FY2026 -29.7%FY2026 -19.0%FY2026
Revenue growth, the year after +0.7% – +4.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFPIJOELAND
Held by institutions 53.2% 87.6% 40.5%
Institutions holding 181 320 181
Change in shares held, QoQ -0.8% -0.2% +4.7%
Institutions buying 100 160 102
Institutions selling 51 97 46
Buyers to sellers 1.96 1.65 2.22

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

FPIJOELAND
FPI 1.00 0.31 0.58
JOE 0.31 1.00 0.22
LAND 0.58 0.22 1.00

Add a Peer

Largest companies in the same industry
FPI · Farmland REITs

Related Comparisons

Frequently Asked Questions

Which is bigger, FPI, JOE and LAND?

St Joe (JOE) is the largest by market capitalisation: Farmland Partners (FPI) $445.61M, St Joe (JOE) $3.91B, Gladstone Land (LAND) $379.12M.

Which stock is cheaper, FPI, JOE and LAND?

Farmland Partners (FPI) trades on the lowest price-to-earnings ratio (Farmland Partners (FPI) 18.4x, St Joe (JOE) 31.8x, Gladstone Land (LAND) -13.0x). On next year's consensus earnings, Farmland Partners (FPI) is cheapest (Farmland Partners (FPI) 46.5x, St Joe (JOE) 88.5x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

St Joe (JOE) grew revenue fastest over the trailing twelve months: Farmland Partners (FPI) -6.4%, St Joe (JOE) +28.4%, Gladstone Land (LAND) +21.6%.

Which company is more profitable?

Farmland Partners (FPI) has the highest net margin (Farmland Partners (FPI) 47.0%, St Joe (JOE) 22.5%, Gladstone Land (LAND) -33.0%).

Which stock has performed better?

Over the past year St Joe (JOE) returned the most: Farmland Partners (FPI) +0.1%, St Joe (JOE) +33.5%, Gladstone Land (LAND) -3.1%. Over five years, St Joe (JOE) compounded fastest (Farmland Partners (FPI) -3.2%/yr, St Joe (JOE) +7.8%/yr, Gladstone Land (LAND) -17.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Gladstone Land (LAND) has the highest dividend yield: Farmland Partners (FPI) 0.05%, St Joe (JOE) 0.01%, Gladstone Land (LAND) 0.06%.

Which stock is riskier?

By one-year price volatility, Farmland Partners (FPI) has been the steadiest (Farmland Partners (FPI) 24.3%, St Joe (JOE) 30.0%, Gladstone Land (LAND) 28.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FPI, JOE and LAND?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, St Joe (JOE) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.