FPI vs PW vs RYN Stock Comparison

Farmland Partners, Power REIT and Rayonier Prices as of Nov 2, 2026 Peers: Industry group
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FPI Farmland Partners Inc.
$8.60 -23.5% 1M -14.3% 1Y
Market cap
$384.37M
P/E
43.4x
Revenue (TTM)
$49.99M
Div. yield
0.06%
Farmland REITs Real Estate
3 wins
PW Power REIT
$6.94 +4.4% 1M -9.9% 1Y
Market cap
$2.48M
P/E
–
Revenue (TTM)
$2.79M
Div. yield
–
Specialty REITs Real Estate
1 win
RYN Rayonier Inc
$20.17 +11.7% 1M -8.6% 1Y
Market cap
$6.11B
P/E
80.6x
Revenue (TTM)
$968.29M
Div. yield
–
Timberland REITs Real Estate
7 wins

Head to Head

11 decided of 12

Rayonier leads on 7 of the 12 questions below (Rayonier 7, Farmland Partners 3, Power REIT 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionFPIPWRYNLeader
Larger companyMarket capitalisation $384.37M $2.48M $6.11B RYN
Cheaper on earningsLower P/E, profitable companies only 43.4x -1.2x 80.6x FPI
Cheaper on forward earningsLower price / next fiscal year consensus EPS 39.7x 0.2x 50.3x PW
Faster revenue growthRevenue growth, trailing twelve months -5.6% -6.7% +0.4% RYN
More profitableNet margin, trailing twelve months 17.7% -73.5% 7.8% FPI
Better return on capitalReturn on invested capital 0.4% — 0.8% RYN
Less leveragedLower net debt / EBITDA 35.8x — 3.0x RYN
Higher dividend yieldTrailing dividend yield 0.06% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -14.3% -9.9% -8.6% RYN
Better 5-year returnAnnualised price return, 5 years -6.7%/yr -57.4%/yr -12.5%/yr FPI
Less volatileAnnualised volatility, 1 year 28.5% 84.0% 25.3% RYN
Higher overall scoreMean of the five percentile scores vs peers 46/100 — 55/100 RYN

Percentile Scorecard

FPIPWRYN

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

AxisFPIPWRYN
Valuation 37 #136 of 215 83 #26 of 145 49 #111 of 215
Growth 24 #156 of 206 36 #92 of 144 29 #147 of 206
Profitability 45 #111 of 200 – 43 #114 of 200
Financial Health 55 #96 of 214 – 88 #27 of 214
Shareholder Returns 71 #49 of 165 – 66 #57 of 165
Overall 46 – 55
  • FPI ranked among 223 companies in Real Estate
  • PW ranked among 149 companies in Property REITs
  • RYN ranked among 223 companies in Real Estate

Price Performance

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

Returns

PeriodFPIPWRYNSPY
1 month -23.5%+4.4%+11.7% -2.3%
3 months -10.0%-9.5%-6.4% -0.7%
6 months -18.3%-7.5%-2.1% +4.8%
Year to date -11.2%-21.1%-6.8% +10.3%
1 year -14.3%-9.9%-8.6% +10.3%
3 years -23.1%+0.6%-32.3% +73.0%
3 years, per year -8.4%+0.2%-12.2% +20.1%
5 years -29.1%-98.6%-48.8% +61.9%
5 years, per year -6.7%-57.4%-12.5% +10.1%
10 years -15.1%-92.4%-22.3% +258.6%
10 years, per year -1.6%-22.8%-2.5% +13.6%

Risk

MeasureFPIPWRYNSPY
Volatility, 1Y 28.5%84.0%25.3% 12.8%
Downside volatility, 1Y 34.6%77.2%25.7% 12.8%
Beta vs S&P 500, 1Y 0.370.130.18 1.00
Return / volatility, 1Y -0.50-0.12-0.34 0.80
Max drawdown, 5Y -48.2%-99.5%-60.4% -25.4%
From 52-week high -34.0%-46.3%-18.2% -3.5%
52-week high $13.04$12.92$24.65 $779.14
52-week low $8.44$5.10$17.98 $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.

MultipleFPIPWRYN
P/E now vs peer median 41.6xmedian 25.0x -1.2xmedian 26.3x 80.0xmedian 25.0x
P/S now vs peer median 7.2xmedian 3.9x 0.9xmedian 4.2x 6.2xmedian 3.9x
EV/EBITDA now vs peer median 91.8xmedian 14.5x —median 14.4x 15.7xmedian 14.5x
P/FCF now vs peer median 20.7xmedian 20.7x —median 23.9x 20.8xmedian 20.7x
P/B now vs peer median 0.8xmedian 1.2x —median 1.3x 1.2xmedian 1.2x
PEG now vs peer median -2.55median 1.29 -0.02median 1.98 -3.57median 1.29

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 monthsFPIPWRYN
Revenue $49.99M $2.79M $968.29M
Gross profit $46.48M – $229.80M
Operating income $2.71M – $57.69M
Net income $10.06M – $76.62M
Free cash flow $17.47M – $289.31M
EPS (diluted) $0.21 $-5.58 $0.25
Cash & equivalents $7.88M – $411.76M
Total debt $239.00M – $1.86B
Shares (diluted) 42.85M 367.17K 302.92M
Enterprise value $338.04M $2.48M $3.25B

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
MetricFPIPWRYN
P/E 41.6x -1.2x 80.0x
P/FCF 20.7x – 20.8x
P/Operating cash flow 20.0x – 19.2x
P/S 7.2x 0.9x 6.2x
P/B 0.8x – 1.2x
P/Tangible book 0.8x – 1.2x
EV/EBITDA 91.8x – 15.7x
EV/EBIT 218.8x – 129.4x
EV/Revenue 11.8x 0.9x 7.7x
EV/FCF 33.9x – 25.8x
EV/Operating cash flow 32.7x – 23.8x
PEG (3Y EPS CAGR) -2.55 -0.02 -3.57

Growth

14 metrics
MetricFPIPWRYN
Revenue growth (1Y) -5.6% -6.7% 0.4%
Revenue CAGR (3Y) -4.7% -20.4% 5.3%
Gross profit growth (1Y) -3.0% – -47.4%
Gross profit CAGR (3Y) -4.6% – 8.9%
Operating income growth (1Y) 321.8% – -84.2%
Operating income CAGR (3Y) -48.7% – -20.7%
Net income growth (1Y) -85.8% – -90.1%
Net income CAGR (3Y) -21.3% – -6.6%
EPS growth (1Y) -86.4% 63.8% -94.8%
EPS CAGR (3Y) -16.3% 53.9% -22.4%
Operating cash flow growth (1Y) 7.4% – 29.1%
Operating cash flow CAGR (3Y) 8.9% – 8.2%
Free cash flow growth (1Y) 139.9% – 47.6%
Free cash flow CAGR (3Y) 37.5% – 42.6%

Profitability

14 metrics
MetricFPIPWRYN
Gross margin 93.0% – 23.7%
EBITDA margin 12.9% – 49.0%
Operating margin 5.4% – 6.0%
Pretax margin 20.1% – 4.2%
Net margin 17.7% -73.5% 7.8%
FCF margin 34.9% – 29.9%
Operating cash flow margin 36.2% – 32.3%
Return on equity 2.3% – 1.5%
Return on assets 1.5% – 1.0%
Return on invested capital 0.4% – 0.8%
Return on capital employed – – 0.8%
Asset turnover 0.1x – 0.1x
Cash conversion (OCF / net income) 1.8x – 4.1x
Stock comp / revenue 3.9% – 2.7%

Financial Health

11 metrics
MetricFPIPWRYN
Debt / assets 35.1% – 24.9%
Debt / equity 0.6x – 0.4x
Net debt / EBITDA 35.8x – 3.0x
Debt / FCF 13.7x – 6.4x
Liabilities / assets 37.2% – 30.2%
Equity / assets 62.8% – 69.8%
Interest coverage 0.2x – 1.3x
Current ratio – – 3.6x
Quick ratio – – 2.5x
Cash ratio – – 2.2x
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricFPIPWRYN
Dividend yield 6.2% – 5.2%
Net buyback yield 23.6% – 0.1%
Shareholder yield 29.8% 0.0% 5.3%
Payout ratio (earnings) 215.1% – –
Payout ratio (FCF) 123.9% – –
Dividend growth (1Y) -66.2% – –
Dividend CAGR (3Y) 19.7% – –

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.

ConsensusFPIPWRYN
Forward P/E 39.7xFY2026 0.2xFY2023 50.3xFY2026
EPS, next fiscal year $0.22FY2026 $39.29FY2023 $0.39FY2026
EPS growth, next FY -63.9%FY2026 – -31.6%FY2026
EPS growth, the year after -13.6% +232.7% +35.9%
Revenue, next fiscal year $32.83MFY2026 $20.57MFY2023 $1.44BFY2026
Revenue growth, next FY -8.6%FY2026 – +197.9%FY2026
Revenue growth, the year after +0.7% +92.5% +17.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersFPIPWRYN
Held by institutions 53.2% – 93.2%
Institutions holding 181 – 460
Change in shares held, QoQ -0.8% – +7.1%
Institutions buying 100 – 237
Institutions selling 51 – 141
Buyers to sellers 1.96 – 1.68

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.

FPIPWRYN
FPI 1.00 0.00 0.16
PW 0.00 1.00 0.08
RYN 0.16 0.08 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, FPI, PW and RYN?

Rayonier (RYN) is the largest by market capitalisation: Farmland Partners (FPI) $384.37M, Power REIT (PW) $2.48M, Rayonier (RYN) $6.11B.

Which stock is cheaper, FPI, PW and RYN?

Farmland Partners (FPI) trades on the lowest price-to-earnings ratio (Farmland Partners (FPI) 43.4x, Power REIT (PW) -1.2x, Rayonier (RYN) 80.6x). On next year's consensus earnings, Power REIT (PW) is cheapest (Farmland Partners (FPI) 39.7x, Power REIT (PW) 0.2x, Rayonier (RYN) 50.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Rayonier (RYN) grew revenue fastest over the trailing twelve months: Farmland Partners (FPI) -5.6%, Power REIT (PW) -6.7%, Rayonier (RYN) +0.4%.

Which company is more profitable?

Farmland Partners (FPI) has the highest net margin (Farmland Partners (FPI) 17.7%, Power REIT (PW) -73.5%, Rayonier (RYN) 7.8%). On return on invested capital, Rayonier (RYN) leads (Farmland Partners (FPI) 0.4%, Rayonier (RYN) 0.8%).

Which stock has performed better?

Over the past year Rayonier (RYN) returned the most: Farmland Partners (FPI) -14.3%, Power REIT (PW) -9.9%, Rayonier (RYN) -8.6%. Over five years, Farmland Partners (FPI) compounded fastest (Farmland Partners (FPI) -6.7%/yr, Power REIT (PW) -57.4%/yr, Rayonier (RYN) -12.5%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Farmland Partners (FPI) 0.06%, Power REIT (PW) 0.00%, Rayonier (RYN) 0.00%. Power REIT (PW) and Rayonier (RYN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Rayonier (RYN) has been the steadiest (Farmland Partners (FPI) 28.5%, Power REIT (PW) 84.0%, Rayonier (RYN) 25.3%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, FPI, PW and RYN?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Rayonier (RYN) leads on 7. 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.