Gladstone Land Corp key statistics and ratios
In fiscal 2025, Gladstone Land Corp had return on equity of 2.0%, a net margin of 15.3% and debt equal to 70.7% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | 100.0% | 100.0% | 89.1% | — |
| Operating margin | 45.3% | — | — | — | — | — | — | — | — | — |
| Net margin | −0.1% | 7.2% | 4.3% | 8.6% | 4.6% | 5.3% | 16.1% | 15.6% | 15.3% | −7.3% |
| Return on equity | −0.0% | 1.8% | 0.8% | 1.5% | 0.7% | 0.7% | 2.0% | 1.9% | 2.0% | −1.0% |
| Return on assets | −0.0% | 0.5% | 0.3% | 0.5% | 0.3% | 0.3% | 1.0% | 1.0% | 1.1% | −0.5% |
| Asset turnover | 0.05 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 |
| Debt to equity | 273.8% | 190.6% | 174.2% | 162.6% | 114.4% | 86.1% | 79.8% | 76.8% | 70.7% | 72.2% |
| Interest cover (operating income ÷ interest) | 1.2x | — | — | — | — | — | — | — | — | — |
| Dividends ÷ net income | — | 314.7% | 600.8% | 244.3% | 471.8% | 401.3% | 135.9% | 151.2% | 151.3% | — |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Net margin | 0.0% | 2.6% | 89.9% | −64.1% | 11.7% | 10.2% | −26.0% | −66.7% |
| Free-cash-flow margin | −6.1% | 54.9% | 26.6% | 32.1% | −67.7% | 25.6% | 56.2% | 157.0% |
| Debt to equity | 76.8% | 76.8% | 72.3% | 74.1% | 72.6% | 70.7% | 70.3% | 72.2% |
Moat
Weak moat
How hard Gladstone Land's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
- Returns on capital 0 / 20
Net income has been a median 0.5% of total assets over 10 years.
- Durability 2 / 20
Net margin has been a median 9.0%; its worst year was -7.3%.
- Cash conversion 6 / 20
Free cash flow was positive in 5 of 9 years, at a median 0.3% of revenue.
- Discipline 5 / 20
The diluted share count rose 53.5% over five years.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
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