Financial Summary
Farm Business Management - Moorhead
Northland Community and Technical College
(Farms Sorted By Net Farm Income)
| Avg. Of | ||||
| All Farms | Low 20% | 40 - 60% | High 20% | |
| Number of farms | 76 | 15 | 15 | 16 |
| Income Statement | ||||
| Gross cash farm income | 586,358 | 365,207 | 603,370 | 901,321 |
| Total cash farm expense | 456,694 | 314,830 | 486,195 | 667,591 |
| Net cash farm income | 129,663 | 50,377 | 117,175 | 233,730 |
| Inventory change | -23,487 | -41,389 | -37,357 | -840 |
| Depreciation and capital adjust | -21,783 | -15,530 | -17,631 | -24,874 |
| Net farm income | 84,393 | -6,542 | 62,187 | 208,016 |
| Profitability (cost) | ||||
| Labor and management earnings | 44,687 | -28,634 | 30,981 | 135,562 |
| Rate of return on assets | 5.6 % | -1.9 % | 4.7 % | 9.7 % |
| Rate of return on equity | 5.9 % | -9.6 % | 3.4 % | 12.0 % |
| Operating profit margin | 11.9 % | -4.4 % | 9.8 % | 19.1 % |
| Asset turnover rate | 47.1 % | 42.1 % | 47.8 % | 50.9 % |
| Profitability (market) | ||||
| Labor and management earnings | 69,473 | 2,294 | 69,174 | 159,693 |
| Rate of return on assets | 6.7 % | 2.1 % | 7.0 % | 9.4 % |
| Rate of return on equity | 9.0 % | -0.3 % | 10.0 % | 13.1 % |
| Operating profit margin | 17.7 % | 5.7 % | 17.7 % | 22.8 % |
| Asset turnover rate | 37.8 % | 36.4 % | 39.7 % | 41.2 % |
| Liquidity | ||||
| Ending current ratio | 1.29 | 0.93 | 1.05 | 1.80 |
| Ending working capital | 63,426 | -12,596 | 12,213 | 225,136 |
| End working capital to gross inc | 10.8 % | -3.4 % | 2.0 % | 25.0 % |
| Term debt coverage ratio | 98.8 % | -23.3 % | 68.0 % | 193.8 % |
| Expense as a percent of income | 81.5 % | 97.3 % | 86.1 % | 74.6 % |
| Interest as a percent of income | 5.0 % | 6.1 % | 6.3 % | 3.3 % |
| Solvency (cost) | ||||
| Number of sole proprietors | 67 | 14 | 14 | 13 |
| Ending farm assets | 1,176,689 | 826,507 | 1,164,679 | 1,908,248 |
| Ending farm liabilities | 584,650 | 489,468 | 665,071 | 745,964 |
| Ending total assets | 1,408,128 | 1,019,685 | 1,436,697 | 2,223,615 |
| Ending total liabilities | 663,353 | 528,201 | 775,103 | 847,508 |
| Ending net worth | 744,775 | 491,484 | 661,593 | 1,376,106 |
| Net worth change | 32,458 | -26,973 | 17,884 | 124,297 |
| Ending farm debt to asset ratio | 50 % | 59 % | 57 % | 39 % |
| Beg total debt to asset ratio | 44 % | 47 % | 49 % | 37 % |
| End total debt to asset ratio | 47 % | 52 % | 54 % | 38 % |
| Solvency (market) | ||||
| Number of sole proprietors | 67 | 14 | 14 | 13 |
| Ending farm assets | 1,414,743 | 945,943 | 1,373,491 | 2,350,699 |
| Ending farm liabilities | 713,603 | 548,407 | 786,690 | 1,010,020 |
| Ending total assets | 1,692,102 | 1,181,750 | 1,715,377 | 2,712,411 |
| Ending total liabilities | 801,798 | 599,906 | 911,121 | 1,120,820 |
| Ending net worth | 890,304 | 581,844 | 804,256 | 1,591,591 |
| Net worth change | 68,885 | 7,254 | 42,672 | 169,271 |
| Ending farm debt to asset ratio | 50 % | 58 % | 57 % | 43 % |
| Beg total debt to asset ratio | 46 % | 48 % | 50 % | 41 % |
| End total debt to asset ratio | 47 % | 51 % | 53 % | 41 % |
| Nonfarm Information | ||||
| Net nonfarm income | 15,515 | 26,148 | 13,861 | 8,111 |
| Farms reporting living expenses | 8 | 2 | 1 | 1 |
| Total family living expense | 35,896 | - | - | - |
| Total living, invest, & capital | 66,890 | - | - | - |
| Crop Acres | ||||
| Total acres owned | 389 | 323 | 431 | 399 |
| Total crop acres | 1,707 | 1,217 | 1,810 | 2,410 |
| Total crop acres owned | 339 | 210 | 397 | 350 |
| Total crop acres cash rented | 1,317 | 908 | 1,383 | 2,054 |
| Total crop acres share rented | 52 | 99 | 31 | 7 |