Financial Summary
Moorhead Farm Business Management
Northland Community and Technical College Farm Business Management
(Farms Sorted By Net Farm Income)
| Avg. Of | |||
| All Farms | Low 20% | High 20% | |
| Number of farms | 72 | 14 | 15 |
| Income Statement | |||
| Gross cash farm income | 495,436 | 215,703 | 742,498 |
| Total cash farm expense | 416,725 | 187,871 | 573,130 |
| Net cash farm income | 78,711 | 27,832 | 169,368 |
| Inventory change | 46,396 | 1,143 | 85,200 |
| Depreciation and capital adjus | -12,613 | -14,450 | -4,043 |
| Net farm income | 112,493 | 14,525 | 250,524 |
| Profitability (cost) | |||
| Labor and management earnings | 86,488 | 248 | 202,798 |
| Rate of return on assets | 12.2 % | 2.9 % | 16.7 % |
| Rate of return on equity | 18.0 % | -1.5 % | 25.2 % |
| Operating profit margin | 21.1 % | 6.2 % | 30.8 % |
| Asset turnover rate | 57.9 % | 46.2 % | 54.4 % |
| Profitability (market) | |||
| Labor and management earnings | 27,412 | -5,478 | 73,967 |
| Rate of return on assets | 5.1 % | 1.8 % | 6.9 % |
| Rate of return on equity | 4.5 % | -2.4 % | 8.6 % |
| Operating profit margin | 10.9 % | 4.7 % | 15.6 % |
| Asset turnover rate | 47.0 % | 37.5 % | 44.3 % |
| Liquidity | |||
| Term debt coverage ratio | 165.0 % | 73.9 % | 237.9 % |
| Expense as a percent of income | 76.7 % | 86.9 % | 68.5 % |
| Interest as a percent of incom | 6.6 % | 7.8 % | 6.0 % |
| Solvency (cost) | |||
| Number of farms | 72 | 14 | 15 |
| Ending farm assets | 962,080 | 482,164 | 1,555,893 |
| Ending farm liabilities | 496,918 | 257,321 | 674,481 |
| Ending total assets | 1,125,045 | 610,950 | 1,742,769 |
| Ending total liabilities | 687,309 | 355,494 | 970,687 |
| Ending net worth | 586,964 | 315,772 | 1,008,416 |
| Net worth change | 74,579 | 4,111 | 180,598 |
| Ending farm debt to asset rati | 52 % | 53 % | 43 % |
| Beg total debt to asset ratio | 65 % | 58 % | 63 % |
| End total debt to asset ratio | 61 % | 58 % | 56 % |
| Solvency (market) | |||
| Number of farms | 72 | 14 | 15 |
| Ending farm assets | 1,150,619 | 591,199 | 1,830,437 |
| Ending farm liabilities | 639,556 | 317,419 | 904,167 |
| Ending total assets | 1,338,624 | 721,771 | 2,040,435 |
| Ending total liabilities | 836,537 | 415,809 | 1,207,021 |
| Ending net worth | 651,315 | 366,277 | 1,069,748 |
| Net worth change | 22,128 | 1,112 | 58,700 |
| Ending farm debt to asset rati | 56 % | 54 % | 49 % |
| Beg total debt to asset ratio | 63 % | 58 % | 62 % |
| End total debt to asset ratio | 62 % | 58 % | 59 % |
| Nonfarm Information | |||
| Net nonfarm income | 13,473 | 10,222 | 4,304 |
| Farms reporting living expense | 30 | 6 | 8 |
| Total family living expense | 34,097 | 26,867 | 36,570 |
| Total living, invest, & capita | 60,759 | 46,860 | 86,180 |
| Crop Acres | |||
| Total acres owned | 347 | 251 | 497 |
| Total crop acres | 1,657 | 924 | 2,238 |
| Total crop acres owned | 309 | 251 | 446 |
| Total crop acres cash rented | 1,298 | 578 | 1,782 |
| Total crop acres share rented | 51 | 95 | 10 |