LAND FINANCIAL STATEMENTS

Gladstone Land Corporation — balance sheet, income statement and cash flow trends

LANDGladstone Land Corporation

🇺🇸 USA · NASDAQ · Real Estate · REIT - Specialty

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue88.1 M $+7.7%

Gross Profit-9.9 M $-117.3%

Operating Income21.2 M $-23.9%

EBITDA52.7 M $-26.7%

Net Income-5.9 M $-139.7%

Peer Comparison· REIT - Specialty

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
LAND	7.7%	-11.2%	59.8%	-6.7%
AHSGY	283.1%	81.9%	581.8%	577.5%
SNGYO	70.8%	32.9%	47.5%	8.5%
FZLGY	188.1%	-22.3%	-28.7%	-18.6%
PAGYO	18.1%	78.7%	163.1%	140.4%
OZKGY	-14.7%	25.2%	-1.1%	-7.6%
Industry median	5.3%	44.5%	62.3%	25.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity688.3 M $57%
Current Liabilities11.2 M $1%
Long-term Liabilities504.2 M $42%

Key Figures

YoY change

Total Assets1.2 B $-6.1%

Total Liabilities515.4 M $-12.9%

Total Equity688.3 M $-0.2%

Cash & ST Investments8.6 M $-79.9%

Total Debt488.2 M $-2.1%

Net Debt479.6 M $+5.2%

Peer Comparison· REIT - Specialty

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
LAND	1.15	70.9%	9.10	57.2%
AHSGY	38.06	0.0%	-0.37	77.8%
SNGYO	2.57	10.2%	2.13	74.0%
FZLGY	4.42	43.1%	-1.83	30.3%
PAGYO	3.12	0.0%	-0.27	90.9%
OZKGY	2.89	7.4%	77.23	81.4%
Industry median	1.89	76.6%	5.16	34.3%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow11.8 M $-61.4%

Capital Expenditures5.6 M $+1.3%

Free Cash Flow6.2 M $-75.1%

Dividends Paid-45.2 M $-201.9%

Peer Comparison· REIT - Specialty

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
LAND	13.4%	7.1%	6.3%	-200.9%
AHSGY	42.1%	-46.8%	0.0%	7.3%
SNGYO	-22.6%	-8.1%	0.1%	-266.3%
FZLGY	-28.7%	-31.0%	0.1%	154.1%
PAGYO	62.0%	61.3%	0.6%	44.2%
OZKGY	-37.1%	3.1%	4.8%	487.0%
Industry median	39.3%	24.1%	15.2%	156.9%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.