F

Gladstone Land Corporation — Earnings Quality Grade F

LAND · Real Estate

Major red flags

Revenue
$88M
2025
Net Income
$14M
2025
Gross Margin
81.6%
Free Cash Flow
-$0M
01

Screening Summary

7
Passed
6
Watch
2
Failed
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

Insufficient data

A2AR vs Revenue Growth

Insufficient data

A3Revenue vs CFFO

Revenue 3.7%, CFFO -76.3%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -96.4% vs COGS 205.3%. Normal

!
B2CapEx vs Revenue

CapEx growth 37.8% is >2x revenue growth 3.7%

B3SG&A Ratio

SG&A/Gross Profit = 14.2%, excellent (<30%)

!
B4Gross Margin

Gross margin swung -12.2pp (93.7% → 81.6%)

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = 0.52. Below 1.0

!
C2Free Cash Flow

FCF is negative ($-0.0B)

C3Accruals Ratio

Accruals ratio = 0.5%. Low accruals

C4Cash vs Debt

Cash $0.0B covers only 6% of debt $0.5B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.0B = 0% of equity. Manageable

D2Leverage

Debt/EBITDA = 6.9x (>4x). Interest coverage = 1.2x (<2x). Financial stress

!
D3Soft Asset Growth

Other assets grew 42.5% vs revenue 3.7%

!
D4Asset Impairment

Write-offs up 86% YoY

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -13% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

Insufficient data

Portfolio monitoring

Monitor LAND continuously

The full checks and model details are free to read. Use Watchlist to track your holdings; Pro adds automatic quarterly rescoring, risk-event email alerts, scans up to 50 tickers, and export workflows.

Altman Z-Score — Not Applicable

Gladstone Land Corporation is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25