Gladstone Land Corporation (LAND) Balance Sheet
LAND balance sheet, 2025
December 31, 2025 · U.S. dollars$1.24B assets = $568.9M liabilities + $670.3M equity
Both columns are drawn to the same scale: what LAND owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LAND financial health
Descriptive bands, not a rating. Fiscal 2025.
LAND balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $334.0M2016 | $1.24B2025 | +15.7%/yr | |
| Total liabilities | $246.2M2016 | $568.9M2025 | +9.8%/yr | |
| Shareholders’ equity | $76.7M2016 | $670.3M2025 | +27.2%/yr | |
| Cash & short-term investments | $2.4M2016 | $27.2M2025 | +30.7%/yr | |
| Total debt | $207.3M2016 | $537.9M2025 | +11.2%/yr | |
| Net cash (debt) | −$204.9M2016 | −$510.7M2025 | −$305.8M | |
| Working capital | −$17.7M2016 | $11.6M2025 | +$29.3M | |
| Book value per share | $7.662016 | $18.362025 | +10.2%/yr | |
| Current ratio | 0.122016 | 1.672025 | +1.55 | |
| Debt / equity | 2.702016 | 0.802025 | −1.90 | |
| Shares outstanding | 10.0M2016 | 36.5M2025 | +15.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LAND assets
LAND liabilities and equity
LAND debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LAND balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $27.2M | $18.3M | $18.6M | $61.1M | $16.7M | $9.2M | $13.7M | $14.7M | $2.9M | $2.4M |
| Cash & equivalents | $27.2M | $18.3M | $18.6M | $61.1M | $16.7M | $9.2M | $13.7M | $14.7M | $2.9M | $2.4M |
| Short-term investments | — | — | $7.4M | $9.0M | — | — | — | — | $0 | $0 |
| Receivables | $0 | $0 | $18.6M | $0 | $0 | $0 | $0 | $20,000 | $0 | $0 |
| Inventory | $1.7M | $46.3M | $53.6M | $0 | $0 | $0 | $0 | $0 | $1.5M | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $28.8M | $64.6M | $72.2M | $61.1M | $16.7M | $9.2M | $13.7M | $14.7M | $4.5M | $2.4M |
| Property, plant & equipment (net) | $0 | $0 | $1.28B | $34.6M | $34.7M | $136,000 | $178,000 | $539.0M | $449.5M | $326.3M |
| Goodwill & intangible assets | $3.1M | $3.6M | $4.8M | $5.7M | $4.5M | $3.7M | $4.8M | $5.7M | $5.5M | $2.0M |
| Long-term investments | $41.5M | $40.2M | $0 | $0 | $0 | $0 | $587,000 | $0 | $0 | $0 |
| Other non-current assets | $1.17B | $1.20B | $33.6M | $1.36B | $1.30B | $1.05B | $797.5M | $5.8M | $2.8M | $3.2M |
| Total assets | $1.24B | $1.31B | $1.39B | $1.46B | $1.35B | $1.07B | $816.8M | $565.1M | $462.3M | $334.0M |
| Liabilities | ||||||||||
| Accounts payable | $22.0M | $18.4M | $10.3M | $16.3M | $10.9M | $9.1M | $10.1M | $9.2M | $7.4M | $2.8M |
| Short-term debt | $17.2M | $3.6M | $200,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $10.0M | $16.6M |
| Deferred revenue | — | — | — | — | — | — | $100,000 | $100,000 | $10.0M | $16.6M |
| Total current liabilities | $17.2M | $25.0M | $14.4M | $20.7M | $15.2M | $11.7M | $12.4M | $10.2M | $18.3M | $20.1M |
| Long-term debt | $473.4M | $523.9M | $573.9M | $685.5M | $726.6M | $652.6M | $510.2M | $363.9M | $318.9M | $190.8M |
| Other long-term liabilities | $78.2M | $76.1M | $79.4M | $19.6M | $20.7M | $19.3M | $15.2M | $10.0M | $7.1M | $35.3M |
| Total liabilities | $568.9M | $625.0M | $667.7M | $725.9M | $762.5M | $683.5M | $537.8M | $384.1M | $344.3M | $246.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $38,000 | $36,000 | $36,000 | $35,000 | $34,000 | $26,000 | $21,000 | $18,000 | $129.7M | $90.1M |
| Retained earnings (deficit) | −$205.5M | −$174.6M | −$144.0M | −$114.4M | −$80.5M | −$55.2M | −$38.8M | −$25.8M | −$19.8M | −$13.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $4.9M | $7.6M | $7.4M | $9.0M | −$1.0M | −$1.5M | −$390,000 | −$25.8M | −$27.9M | −$27.7M |
| Minority interest | — | $0 | $0 | $0 | $2.3M | — | $2.3M | $4.8M | $8.0M | $11.1M |
| Total shareholders' equity | $670.3M | $687.2M | $719.6M | $731.4M | $589.1M | $383.8M | $279.0M | $181.1M | $118.0M | $76.7M |
| Key figures | ||||||||||
| Total debt | $537.9M | $527.5M | $574.1M | $685.6M | $726.7M | $652.7M | $510.3M | $364.0M | $328.9M | $207.3M |
| Net cash (debt) | −$510.7M | −$509.2M | −$555.5M | −$624.5M | −$710.0M | −$643.4M | −$496.6M | −$349.3M | −$326.0M | −$204.9M |
| Working capital | $11.6M | $39.6M | $57.8M | $40.4M | $1.5M | −$2.4M | $1.3M | $4.5M | −$13.9M | −$17.7M |
| Tangible book value | $667.2M | $683.6M | $714.8M | $725.7M | $584.6M | $380.1M | $274.1M | $175.4M | $112.5M | $74.7M |
| Book value per share | $18.36 | $19.14 | $20.14 | $21.16 | $19.40 | $17.24 | $14.23 | $11.68 | $9.78 | $7.66 |
| Shares outstanding | 36.5M | 35.9M | 35.7M | 34.6M | 30.4M | 22.3M | 19.6M | 15.5M | 12.1M | 10.0M |
| Current ratio | 1.67 | 2.59 | 5.02 | 2.95 | 1.10 | 0.79 | 1.10 | 1.44 | 0.24 | 0.12 |
| Quick ratio | 1.58 | 0.73 | 2.58 | 2.95 | 1.10 | 0.79 | 1.10 | 1.45 | 0.16 | 0.12 |
| Debt / equity | 0.80 | 0.77 | 0.80 | 0.94 | 1.23 | 1.70 | 1.83 | 2.01 | 2.79 | 2.70 |
| Equity / assets | 54.1% | 52.4% | 51.9% | 50.2% | 43.6% | 36.0% | 34.2% | 32.0% | 25.5% | 23.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $22.6M | $8.6M | $27.2M | $11.3M | $30.5M | $42.9M | $18.3M | $13.2M | $49.8M | $51.6M | $18.6M | $25.1M |
| Cash & equivalents | $22.6M | $8.6M | $27.2M | $11.3M | $30.5M | $42.9M | $18.3M | $13.2M | $49.8M | $51.6M | $18.6M | $25.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $8.3M | $8.4M | $7.4M | $10.3M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.6M | $0 |
| Inventory | $6.5M | $4.3M | $1.7M | $0 | $14.5M | $0 | $46.3M | $0 | $0 | $0 | $53.6M | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $29.1M | $12.9M | $28.8M | $11.3M | $45.0M | $42.9M | $64.6M | $13.2M | $49.8M | $51.6M | $72.2M | $25.1M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $36.9M | $35.4M | $35.2M | $34.0M |
| Goodwill & intangible assets | $2.9M | $3.0M | $3.1M | $3.2M | $3.3M | $3.4M | $3.6M | $3.9M | $4.3M | $4.5M | $4.8M | $5.0M |
| Long-term investments | $41.7M | $41.7M | $41.5M | $41.5M | $41.1M | $0 | $40.2M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.12B | $1.15B | $1.17B | $1.17B | $1.17B | $1.24B | $1.20B | $1.30B | $1.26B | $1.27B | $1.28B | $1.34B |
| Total assets | $1.19B | $1.20B | $1.24B | $1.23B | $1.26B | $1.28B | $1.31B | $1.32B | $1.35B | $1.36B | $1.39B | $1.41B |
| Liabilities | ||||||||||||
| Accounts payable | $17.5M | $18.2M | $22.0M | $10.0M | $13.8M | $15.7M | $18.4M | $18.8M | $11.2M | $8.4M | $10.3M | $9.7M |
| Short-term debt | $11.3M | $11.2M | $17.2M | $200,000 | $200,000 | $200,000 | $3.6M | $200,000 | $200,000 | $200,000 | $200,000 | $100,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | $3.3M | — | — | — |
| Total current liabilities | $11.3M | $11.2M | $17.2M | $12.9M | $17.2M | $19.3M | $25.0M | $21.8M | $14.6M | $11.7M | $14.4M | $13.4M |
| Long-term debt | $464.9M | $467.5M | $473.4M | $480.2M | $496.2M | $498.6M | $523.9M | $530.5M | $549.2M | $552.0M | $573.9M | $584.1M |
| Other long-term liabilities | $42.8M | $36.6M | $78.2M | $70.9M | $75.1M | $74.0M | $76.1M | $74.5M | $80.3M | $76.5M | $79.4M | $77.1M |
| Total liabilities | $519.1M | $515.4M | $568.9M | $564.0M | $588.5M | $591.9M | $625.0M | $626.7M | $644.1M | $640.2M | $667.7M | $674.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $43,000 | $42,000 | $38,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 | $36,000 |
| Retained earnings (deficit) | −$240.8M | −$221.3M | −$205.5M | −$198.5M | −$189.5M | −$170.5M | −$174.6M | −$164.0M | −$153.2M | −$141.6M | −$144.0M | −$134.7M |
| Accumulated other comprehensive income | $5.3M | $5.0M | $4.9M | $5.0M | $5.5M | $6.3M | $7.6M | $5.8M | $8.3M | $8.4M | $7.4M | $10.3M |
| Total shareholders' equity | $673.1M | $688.3M | $670.3M | $661.8M | $670.1M | $689.9M | $687.2M | $691.2M | $708.5M | $723.3M | $719.6M | $731.5M |
| Key figures | ||||||||||||
| Total debt | $492.1M | $488.2M | $537.9M | $480.4M | $496.4M | $498.8M | $527.5M | $530.7M | $549.4M | $552.2M | $574.1M | $584.2M |
| Net cash (debt) | −$469.5M | −$479.6M | −$510.7M | −$469.0M | −$465.9M | −$455.9M | −$509.2M | −$517.5M | −$499.6M | −$500.6M | −$555.5M | −$559.1M |
| Working capital | $17.8M | $1.7M | $11.6M | −$1.6M | $27.8M | $23.7M | $39.6M | −$8.6M | $35.2M | $39.9M | $57.8M | $11.6M |
| Tangible book value | $670.2M | $685.3M | $667.2M | $658.6M | $666.7M | $686.4M | $683.6M | $687.3M | $704.2M | $718.8M | $714.8M | $726.5M |
| Book value per share | $15.69 | $16.85 | $18.36 | $18.29 | $18.52 | $19.07 | $19.06 | $19.29 | $19.77 | $20.18 | $20.14 | $20.42 |
| Shares outstanding | 42.9M | 40.9M | 36.5M | 36.2M | 36.2M | 36.2M | 36.0M | 35.8M | 35.8M | 35.8M | 35.7M | 35.8M |
| Current ratio | 2.57 | 1.15 | 1.67 | 0.88 | 2.61 | 2.23 | 2.59 | 0.61 | 3.42 | 4.40 | 5.02 | 1.87 |
| Quick ratio | 1.99 | 0.77 | 1.58 | 0.88 | 1.77 | 2.23 | 0.73 | 0.61 | 3.42 | 4.40 | 2.58 | 1.87 |
| Debt / equity | 0.73 | 0.71 | 0.80 | 0.73 | 0.74 | 0.72 | 0.77 | 0.77 | 0.78 | 0.76 | 0.80 | 0.80 |
| Equity / assets | 56.5% | 57.2% | 54.1% | 54.0% | 53.2% | 53.8% | 52.4% | 52.4% | 52.4% | 53.0% | 51.9% | 52.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
LAND financial position
At the end of fiscal 2025 (December 31, 2025), Gladstone Land had total assets of $1.2 billion (down 5.6% from a year earlier), total liabilities of $568.9 million and shareholders' equity of $670.3 million. It held $27.2 million in cash and short-term investments against $537.9 million of debt, net debt of $510.7 million. Its current ratio was 1.67. In the latest quarter (ended June 30, 2026) total assets were $1.2 billion and equity $673.1 million.
Related: LAND income statement, LAND cash flow statement, LAND key metrics. See the LAND stock overview for the latest quote and news.
LAND balance sheet FAQ
What are Gladstone Land's total assets?
Gladstone Land reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.3 billion a year earlier.
How much debt does Gladstone Land have?
Gladstone Land had $537.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.80.
How much cash does Gladstone Land have?
Gladstone Land held $27.2 million in cash and short-term investments at the end of fiscal 2025; with $537.9 million of debt that is net debt of $510.7 million.
What is Gladstone Land's book value?
Gladstone Land's shareholders' equity (book value) was $670.3 million at the end of fiscal 2025, or $18.36 per share.
What is Gladstone Land's current ratio?
Gladstone Land had current assets of $28.8 million and current liabilities of $17.2 million, a current ratio of 1.67 (it can cover its short-term obligations).
How much goodwill does Gladstone Land have?
Gladstone Land carried $3.1 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.