Statewide
Reports
State Averages
PROFITABILITY AND LIQUIDITY ANALYSIS, 1996
(Farms sorted by Net Farm Income)
Avg. Of Avg. Of Avg. Of Avg. Of Avg. Of Avg. Of
All Farms Low 20 % High 20 % All Farms Low 20 % High 20 %
--------- --------- --------- --------- --------- ---------
Number of Farms 2191 443 437 2474 495 494
PROFITABILITY ------------- Cost --------------- ------------ Market --------------
Net farm income 42698 -16604 130914 50453 -7266 139481
Labor and management earnings 29625 -23562 102903 30613 -20776 99838
Rate of return on assets 8.5 % -4.1 % 14.8 % 8.0 % -0.7 % 12.6 %
Rate of return on equity 9.6 % -33.4 % 21.5 % 8.7 % -10.8 % 16.4 %
Operating profit margin 18.2 % -11.0 % 28.4 % 22.2 % -2.7 % 30.9 %
Asset turnover rate 46.8 % 37.4 % 52.3 % 36.0 % 27.2 % 40.7 %
Interest on farm net worth 13073 6959 28011 19839 13510 39644
Farm interest expense 19961 19771 30019 20009 20386 29957
Value of operator lbr and mgmt. 22587 17289 32112 21859 16707 30906
Return on farm assets 40073 -14122 128821 48603 -3588 138532
Average farm assets 470109 343551 867542 609001 480186 1101399
Return on farm equity 20111 -33893 98802 28594 -23974 108576
Average farm equity 210283 101555 460519 329813 222640 660062
Value of farm production 220136 128410 453872 219189 130634 448056
Average Of Average Of Average Of
All Farms Low 20 % High 20 %
---------- ---------- ----------
Number of Farms 2475 495 495
LIQUIDITY (Cash)
Net cash farm income 46231 14138 102205
Net nonfarm income 13917 22204 10302
Family living and taxes 34161 24627 53008
Real estate principal payments 6456 5479 10031
Cash available for interm. debt 19531 6236 49468
Average intermediate debt 78945 77540 117758
Years to turnover interm. debt 4.0 12.4 2.4
Expense as a % of income 82 % 92 % 79 %
Interest as a % of income 8 % 11 % 6 %
LIQUIDITY (Accrual)
Total accrual farm income 264919 168647 534867
Total accrual farm expense 207294 168441 383038
Net accrual operating income 57625 205 151830
Net nonfarm income 13917 22204 10302
Family living and taxes 34161 24627 53008
Real estate principal payments 6456 5479 10031
Available for intermediate debt 30925 -7696 99092
Average intermediate debt 78945 77540 117758
Years to turnover interm. debt 2.6 ** 1.2
Expense as a % of income 78 % 100 % 72 %
Interest as a % of income 8 % 12 % 6 %
** Income insufficiant to meet debt servicing requirements
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