1. Denmark Stocks

  2. •

    Consumer Defensive

  3. •

    Agricultural Farm Products
FirstFarms A/S

FirstFarms A/S

FFARMS.CO
FirstFarms A/SDK flagNASDAQ Copenhagen
69.80
DKK
-0.20
- -
853.77MMarket Cap
FirstFarms A/S
FFARMS.CO
(NASDAQ Copenhagen)

Recent

price

69.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
18.07
27.45
22.94
24.22
26.53
23.73
27.64
37.11
40.41
51.93
41.54
47.11
44.54
46.96
40.98
- -
36.82
Revenue per Share
-1.97
1.91
-5.82
0.59
1.87
-4.66
-2.75
0.65
1.32
3.55
3.28
4.42
6.92
2.62
1.47
- -
-1.83
Basic EPS, GAAP
-3.76
-0.91
-3.8
-4.22
-10.36
-8.56
-3.85
-4.81
-2.48
2.23
-4.53
-1.03
-13.81
-7.63
-4.27
- -
-6.12
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.52
- -
0.72
0.73
0.9
- -
- -
- -
Dividend per Share
-14.34
-12.43
-18.25
-17.56
-15.68
69.67
67.03
66.29
63.7
66.91
68.51
71.55
74.75
76.08
77.87
- -
83.19
Book Value per Share
67.17
69.1
63.23
63.91
64.9
60.51
57.99
57.74
57.28
59.55
61.77
65.39
70.5
70.99
72.05
- -
72.68
Tangible Book Value per Share
5
5
5
5
5
5
5
5
6
6
8
8
9
10
11
- -
11
Basic Weighted Avg Shares
85
129
108
114
125
112
130
191
249
328
314
370
421
467
457
416
416
Sales/Revenue/Turnover
-47.3
12.11
-25.63
10.01
9.38
-13.55
-2.64
8.23
7.95
13.11
0.35
11.74
22.54
8.63
8.53
2.4
2.4
Operating Margin (%)
18
18
18
17
22
24
24
27
32
47
46
44
51
51
62
66
66
Depreciation Expense
-9
9
-27
3
9
-22
-13
3
8
22
25
35
65
26
16
-21
-21
Net Income, GAAP
- -
16.34
- -
37.95
23.24
- -
- -
32.74
29.41
22.6
21.04
24.3
21.66
22.4
- -
- -
16.01
Effective Tax Rate (%)
-10.89
6.96
-25.38
2.45
7.06
-19.65
-9.95
1.76
3.27
6.84
7.89
9.39
15.54
5.58
3.58
-4.96
-4.96
Profit Margin (%)
-21
-9
-28
20
32
-26
-9
27
64
-24
-9
32
39
150
267
197
197
Working Capital
32
32
32
79
88
62
88
179
273
342
365
270
328
538
604
517
517
LT Debt
341
348
318
321
329
306
293
315
370
392
483
530
683
722
819
899
899
Total Equity
- -
3.18
- -
1.72
2.04
- -
- -
2.03
2.19
4.16
0.09
3.42
6.92
2.48
- -
- -
- -
Return on Invested Capital (%)
- -
257.62
- -
59.67
29.32
- -
- -
1.27
2.57
4.12
3.91
4.6
6.93
3.84
- -
- -
3.39
Return on Capital (%)
- -
- -
- -
- -
- -
- -
-4.02
1.02
2.22
5.5
5.27
6.43
10.31
3.56
2.01
-2.28
-2.28
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
114
118
108
LT Borrowings
508
495
517
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
12
12
12
Market Capitalization
742
888
838

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
434
365
367
Cash, Cash Equivalents & STI
72
2
12
Accounts Receivable, Net
25
26
23
Inventories
279
275
286
Total Current Liabilities
193
177
170
Payables & Accruals
- -
- -
- -
ST Debt
114
118
108
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.74%
13.49%
9.78%
Free Cash Flow
95.2%
308.83%
180.79%
Net Income, GAAP
-3.36%
-39.01%
-226.15%
Sales/Revenue/Turnover
15.23%
6.26%
-8.97%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
111
95
145
117
467
2024
105
117
109
126
457
2025
103
124
95
94
416

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
1.67
1.65
-0.99
- -
2.62
2024
1.09
0.33
-0.54
- -
1.47
2025
-1.35
1.43
-0.91
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
0.9
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
FirstFarms A/S is a Denmark-based agricultural company that acquires, develops, and operates businesses in crop production, milk production, pig production, and land portfolio development across Central and Eastern Europe. Founded in 2005 and headquartered in Billund, Denmark, the company cultivates crops including wheat, rapeseed, maize, lupine, sunflower, rye, sugar beets, grass, poppy, soybean, barley, pumpkin, sorghum, alfalfa, and peas; rears dairy cows yielding milk from approximately 2,800 milking cows in Slovakia; produces piglets and slaughter pigs from facilities with over 6,500 sows across Slovakia, Hungary, and the Czech Republic; and strategically expands its land holdings through acquisitions and leasing totaling around 18,000 hectares in the Czech Republic, Slovakia, Hungary, and Romania, with Slovakia as the primary revenue contributor. FirstFarms generates revenue primarily from cows and calves, piglets and slaughter pigs, crops, and related activities, employing modern technologies and circular operations to serve the food industry and other agricultural entities while prioritizing risk diversification and sustainability. Recent developments include the 2024 investment of 186 million DKK from Heartland Group's Constantinsborg A/S via a directed share issue and convertible bonds, securing a 10.77% stake to fund Strategy 2028 growth targets of doubled turnover and earnings; inauguration of major pig production facilities in Hungary in 2023 with capacities for 2,000 sows and 75,000 piglets annually; ongoing construction of a silo expansion to 46,000 tons, irrigation systems covering additional 750 hectares in Romania, and the company's first dairy in Slovakia set for mid-2025 production of cream and concentrated milk products; and recovery from a 2025 foot-and-mouth disease outbreak in Slovakia, with the affected farm declared free in September 2025 and repopulation underway with 1,900 pregnant heifers and cows for December operations.