Gladstone Land Corporation (LAND) Key Metrics
LAND valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $400.3M
- Enterprise value
- $874.6M
- P/E (TTM)
- — 10-yr median 67.7
- Forward P/E
- 185.2
- PEG ratio
- 22.95
- Price / sales
- 4.5 10-yr median 6.0
- Price / book
- 0.6 10-yr median 0.9
- EV / EBITDA
- 17.9 10-yr median 22.3
- Dividend yield
- 6.03% $0.56 a year
- Beta
- 1.10
LAND key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLAND valuation Price multiples at each fiscal year-end price.
LAND returns How much profit the business earns on the capital it uses.
LAND per-share figures Results divided by the shares outstanding at year-end.
LAND financial health Debt, liquidity and how easily interest is covered.
LAND efficiency & capital use Working capital cycle and where the cash goes.
LAND valuation history
LAND returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LAND debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LAND cash returned to shareholders
LAND price vs earnings per share
LAND key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $334.0M | $389.6M | $516.4M | $634.2M | $1.02B | $325.9M | $254.2M | $178.0M | $161.9M | $112.5M |
| Enterprise value | $844.8M | $898.9M | $1.07B | $1.26B | $1.73B | $969.3M | $750.8M | $527.3M | $487.9M | $317.4M |
| P/E ratio | 24.7 | 29.3 | 35.5 | 134.7 | 293.2 | 66.2 | 146.0 | 67.7 | — | 251.0 |
| Price / sales | 3.8 | 4.6 | 5.7 | 7.1 | 13.6 | 5.7 | 6.2 | 4.9 | 6.4 | 6.5 |
| Price / book | 0.5 | 0.6 | 0.7 | 0.9 | 1.7 | 0.8 | 0.9 | 1.0 | 1.4 | 1.5 |
| Price / free cash flow | — | 16.0 | 18.9 | 26.8 | 39.0 | 38.4 | 28.0 | — | 124.2 | — |
| Price / operating cash flow | 47.8 | 13.2 | 12.9 | 14.5 | 31.7 | 13.0 | 11.9 | 17.1 | 24.9 | 13.4 |
| EV / sales | 9.6 | 10.5 | 11.9 | 14.1 | 23.0 | 17.0 | 18.5 | 14.4 | 19.4 | 18.3 |
| EV / EBITDA | 11.9 | 12.8 | 14.2 | 19.1 | 31.1 | 22.9 | 24.3 | 21.7 | 28.8 | 25.9 |
| EV / free cash flow | — | 36.9 | 39.3 | 53.2 | 66.1 | 114.1 | 82.7 | — | 374.1 | — |
| Earnings yield | 4.1% | 3.4% | 2.8% | 0.7% | 0.3% | 1.5% | 0.7% | 1.5% | −0.0% | 0.4% |
| Free cash flow yield | −0.1% | 6.2% | 5.3% | 3.7% | 2.6% | 2.6% | 3.6% | −6.9% | 0.8% | −1.2% |
| Dividend yield | 13.3% | 11.4% | 8.7% | 5.8% | 2.8% | 6.4% | 5.5% | 4.9% | 3.9% | 4.4% |
| Shareholder yield (dividends + buybacks) | 13.3% | 13.1% | 9.0% | 7.2% | 5.7% | 6.7% | 5.7% | 5.2% | 5.5% | 4.4% |
| Share price at fiscal year-end | $9.15 | $10.85 | $14.45 | $18.35 | $33.76 | $14.64 | $12.97 | $11.48 | $13.43 | $11.24 |
| Per share | ||||||||||
| Revenue per share | $2.42 | $2.37 | $2.53 | $2.58 | $2.48 | $2.56 | $2.08 | $2.37 | $2.08 | $1.73 |
| Earnings per share | $0.37 | $0.37 | $0.41 | $0.14 | $0.12 | $0.22 | $0.09 | $0.17 | −$0.00 | $0.04 |
| Operating cash flow per share | $0.19 | $0.82 | $1.12 | $1.27 | $1.07 | $1.12 | $1.09 | $0.67 | $0.54 | $0.84 |
| Free cash flow per share | −$0.00 | $0.68 | $0.76 | $0.68 | $0.86 | $0.38 | $0.46 | −$0.79 | $0.11 | −$0.14 |
| Cash per share | $0.74 | $0.51 | $0.52 | $1.77 | $0.55 | $0.41 | $0.70 | $0.95 | $0.24 | $0.24 |
| Book value per share | $18.36 | $19.14 | $20.14 | $21.16 | $19.40 | $17.24 | $14.23 | $11.68 | $9.78 | $7.66 |
| Tangible book value per share | $18.27 | $19.04 | $20.00 | $21.00 | $19.26 | $17.08 | $13.99 | $11.31 | $9.33 | $7.46 |
| Dividends per share | $1.22 | $1.23 | $1.26 | $1.07 | $0.96 | $0.94 | $0.72 | $0.56 | $0.53 | $0.50 |
| Capex per share | $0.20 | $0.14 | $0.36 | $0.58 | $0.20 | $0.74 | $0.63 | $1.46 | $0.43 | $0.98 |
| Debt per share | $14.73 | $14.69 | $16.07 | $19.84 | $23.94 | $29.32 | $26.03 | $23.48 | $27.28 | $20.72 |
| Shares outstanding | 36.5M | 35.9M | 35.7M | 34.6M | 30.4M | 22.3M | 19.6M | 15.5M | 12.1M | 10.0M |
| Change in shares outstanding | +1.7% | +0.5% | +3.4% | +13.9% | +36.4% | +13.5% | +26.4% | +28.6% | +20.5% | +15.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 2.0% | 1.9% | 2.0% | 0.7% | 0.7% | 1.5% | 0.8% | 1.8% | −0.0% | 0.6% |
| Return on invested capital (ROIC) | 1.6% | 1.3% | 1.3% | 1.3% | 1.4% | 1.5% | 1.5% | 1.2% | 2.5% | 2.7% |
| Return on assets (ROA) | 1.1% | 1.0% | 1.0% | 0.3% | 0.3% | 0.5% | 0.3% | 0.5% | −0.0% | 0.2% |
| Return on tangible assets | 1.1% | 1.0% | 1.1% | 0.3% | 0.3% | 0.5% | 0.2% | 0.5% | −0.0% | 0.1% |
| Free cash flow margin | −0.2% | 28.6% | 30.2% | 26.5% | 34.9% | 14.9% | 22.3% | −33.2% | 5.2% | −8.1% |
| Income quality (OCF / net income) | 0.52 | 2.22 | 2.75 | 9.30 | 9.26 | 5.08 | 12.27 | 3.96 | — | 18.75 |
| Financial health | ||||||||||
| Total debt | $537.9M | $527.5M | $574.1M | $685.6M | $726.7M | $652.7M | $510.3M | $364.0M | $328.9M | $207.3M |
| Cash & short-term investments | $27.2M | $18.3M | $18.6M | $61.1M | $16.7M | $9.2M | $13.7M | $14.7M | $2.9M | $2.4M |
| Net debt | $510.7M | $509.2M | $555.5M | $624.5M | $710.0M | $643.4M | $496.6M | $349.3M | $326.0M | $204.9M |
| Debt / equity | 0.80 | 0.77 | 0.80 | 0.94 | 1.23 | 1.70 | 1.83 | 2.01 | 2.79 | 2.70 |
| Debt / assets | 0.43 | 0.40 | 0.41 | 0.47 | 0.54 | 0.61 | 0.62 | 0.64 | 0.71 | 0.62 |
| Net debt / EBITDA | 7.18 | 7.25 | 7.36 | 9.47 | 12.75 | 15.22 | 16.08 | 14.39 | 19.21 | 16.74 |
| 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 | 1.29 | 2.95 | 1.10 | 0.79 | 1.10 | 1.44 | 0.16 | 0.12 |
| Interest coverage | 1.0 | 1.4 | 1.4 | 1.4 | 1.1 | 1.3 | 1.2 | 1.0 | 1.2 | 1.2 |
| Working capital | $11.6M | $39.6M | $57.8M | $40.4M | $1.5M | −$2.4M | $1.3M | $4.5M | −$13.9M | −$17.7M |
| Invested capital | $1.18B | $1.20B | $1.28B | $1.36B | $1.30B | $1.03B | $775.6M | $530.3M | $443.9M | $281.6M |
| Tangible asset value | $667.2M | $683.6M | $714.8M | $725.7M | $584.6M | $380.1M | $274.1M | $175.4M | $112.5M | $85.8M |
| Net current asset value | −$540.0M | −$560.4M | −$595.5M | −$664.7M | −$745.8M | −$674.3M | −$524.1M | −$369.3M | −$339.9M | −$243.8M |
| Graham number | $12.37 | $12.62 | $13.59 | $8.05 | $7.09 | $9.27 | $5.33 | $6.68 | — | $2.78 |
| Graham net-net per share | −$14.82 | −$16.25 | −$17.03 | −$19.23 | −$24.57 | −$30.29 | −$26.74 | −$23.82 | −$28.25 | −$24.36 |
| Capital allocation | ||||||||||
| Dividends paid | $44.5M | $44.3M | $45.1M | $37.0M | $29.2M | $21.0M | $14.1M | $8.7M | $6.4M | $5.0M |
| Share buybacks (net) | $102,000 | $6.6M | $1.2M | $8.6M | $29.0M | $684,000 | $340,000 | $523,000 | $2.6M | $0 |
| Dividend payout ratio | 328.7% | 333.7% | 309.6% | 785.1% | 834.6% | 426.6% | 810.2% | 329.1% | — | — |
| Dividends + buybacks / free cash flow | — | 209.3% | 169.7% | 192.4% | 221.5% | 255.5% | 159.1% | — | 685.4% | — |
| Capex / revenue | 8.1% | 6.1% | 14.2% | 22.6% | 8.1% | 28.9% | 30.2% | 61.6% | 20.7% | 56.6% |
| Capex / operating cash flow | 102.4% | 17.6% | 31.9% | 46.0% | 18.9% | 66.0% | 57.5% | 217.2% | 80.0% | 116.6% |
| Capex / depreciation | 0.21 | 0.15 | 0.34 | 0.57 | 0.22 | 0.99 | 0.96 | 2.41 | 0.72 | 1.89 |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 5.6% | 15.7% | 15.2% | 14.6% | 13.3% | 13.7% | 13.0% | 14.9% | 18.0% | 22.0% |
| Efficiency | ||||||||||
| Days sales outstanding | — | — | 75.0 | — | — | — | — | 0.2 | — | — |
| Days of inventory on hand | 93.8 | 3,419.4 | 2,329.6 | — | — | — | — | — | 239.4 | — |
| Days payables outstanding | 79.0 | 982.0 | 1,154.0 | 1,757.0 | 1,436.0 | 1,897.4 | 1,423.1 | 1,478.4 | 1,597.7 | 1,715.2 |
| Cash conversion cycle (days) | — | — | 1,250.6 | — | — | — | — | -1,341.7 | — | — |
| Receivables turnover | — | — | 4.87 | — | — | — | — | 1,834.35 | — | — |
| Payables turnover | 4.62 | 0.37 | 0.32 | 0.21 | 0.25 | 0.19 | 0.26 | 0.25 | 0.23 | 0.21 |
| Inventory turnover | 3.89 | 0.11 | 0.16 | — | — | — | — | — | 1.52 | — |
| Asset turnover | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.06 | 0.06 |
| Average receivables | — | — | $18.6M | — | — | — | — | $20,000 | — | — |
| Average payables | $20.2M | $14.4M | $13.3M | $13.6M | $10.0M | $9.6M | $9.6M | $8.3M | $5.1M | $3.1M |
| Average inventory | $24.0M | $50.0M | $26.8M | $0 | — | — | — | $764,000 | $764,000 | $0 |
| Intangibles / total assets | 0.3% | 0.3% | 0.3% | 0.4% | 0.3% | 0.3% | 0.6% | 1.0% | 1.2% | 0.6% |
Computed from LAND's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LAND valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Gladstone Land traded at 24.7 times earnings, against a 10-year median of 67.7. Gladstone Land earned a return on equity of 2.0% and a return on invested capital of 1.6% in fiscal 2025. It ended the year with $537.9 million of debt and $27.2 million in cash and short-term investments, net debt of $510.7 million. It returned $44.6 million to shareholders: $44.5 million in dividends and $0.1 million in share buybacks. The share count rose 264.8% from 10.0M to 36.5M over 9 years.
See the LAND income statement, the LAND chart for price history, or the LAND stock overview for the latest quote and news.
LAND key metrics FAQ
What is Gladstone Land's P/E ratio?
Gladstone Land traded at 24.7 times earnings at the end of fiscal 2025.
What is Gladstone Land's EV/EBITDA?
Gladstone Land's enterprise value was 11.9 times EBITDA at the end of fiscal 2025 (enterprise value $844.8 million, EBITDA $71.1 million); the current EV/EBITDA is 17.9.
What is Gladstone Land's return on equity?
Gladstone Land's return on equity (ROE) was 2.0% in fiscal 2025: net income of $13.5 million on average shareholders' equity of $678.7 million.
What is Gladstone Land's ROIC?
Gladstone Land's return on invested capital was 1.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Gladstone Land have?
Gladstone Land had total debt of $537.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.80 and $510.7 million of net debt (7.18 times EBITDA).
What is Gladstone Land's dividend yield?
Gladstone Land's forward dividend yield is 6.03%. Gladstone Land paid $44.5 million in dividends in fiscal 2025 ($1.22 per share), a payout ratio of 328.7%.
Does Gladstone Land buy back its shares?
Yes. Gladstone Land spent $0.1 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.7% over the year, to 36.5M..
What is Gladstone Land's free cash flow yield?
Gladstone Land generated -$0.2 million of free cash flow in fiscal 2025, a free cash flow yield of −0.1% on its market value at year-end ($334.0 million).
What is Gladstone Land's current ratio?
Gladstone Land's current ratio was 1.67 at the end of fiscal 2025: current assets were 1.67 times current liabilities.