State-wide Reports for 2004
Financial Standards Measures
Minnesota State Colleges and Universities
Statewide Farm Business Management Database
(Farms Sorted By Net Farm Income)
| Avg. Of | ||||||
| All Farms | Low 20% | 20 - 40% | 40 - 60% | 60 - 80% | High 20% | |
| Number of farms | 2234 | 446 | 447 | 447 | 447 | 447 |
| Liquidity | ||||||
| Current ratio | 1.48 | 1.03 | 1.22 | 1.33 | 1.53 | 1.81 |
| Working capital | 76,346 | 3,200 | 23,966 | 43,378 | 83,311 | 227,713 |
| Solvency (market) | ||||||
| Farm debt to asset ratio | 49 % | 57 % | 51 % | 51 % | 48 % | 46 % |
| Farm equity to asset ratio | 51 % | 43 % | 49 % | 49 % | 52 % | 54 % |
| Farm debt to equity ratio | 98 % | 132 % | 105 % | 102 % | 94 % | 86 % |
| Profitability (cost) | ||||||
| Rate of return on farm assets | 8.0 % | -2.7 % | 3.1 % | 6.3 % | 8.8 % | 13.4 % |
| Rate of return on farm equity | 10.9 % | -18.0 % | -0.3 % | 7.3 % | 12.4 % | 20.8 % |
| Operating profit margin | 17.6 % | -8.0 % | 7.6 % | 14.3 % | 19.4 % | 26.0 % |
| Net farm income | 72,761 | -13,111 | 21,433 | 48,783 | 86,519 | 219,987 |
| Repayment Capacity | ||||||
| Term debt coverage ratio | 163 % | 47 % | 102 % | 131 % | 170 % | 244 % |
| Capital replacement margin | 35,569 | -21,593 | 930 | 14,388 | 39,304 | 144,689 |
| Efficiency | ||||||
| Asset turnover rate (cost) | 45.6 % | 33.6 % | 41.4 % | 44.1 % | 45.6 % | 51.6 % |
| Operating expense ratio | 73.3 % | 87.6 % | 77.0 % | 72.8 % | 71.1 % | 70.7 % |
| Depreciation expense ratio | 5.5 % | 9.3 % | 6.9 % | 6.0 % | 5.3 % | 4.3 % |
| Interest expense ratio | 5.2 % | 9.5 % | 7.1 % | 6.0 % | 4.9 % | 3.8 % |
| Net farm income ratio | 16.1 % | -6.4 % | 9.0 % | 15.2 % | 18.7 % | 21.2 % |
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