TABLE 13 - 1
Size of Farm Report, 2003
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Gross Farm Income)
Avg. Of Less than 50,001 - 100,001 - 250,001 - 500,001 - Over
All Farms 50,000 100,000 250,000 500,000 1,000,000 1,000,000
Number of farms 431 26 42 170 146 39 8
Income Statement
Gross cash farm income 287,656 32,653 77,457 176,892 345,237 698,645 1,519,302
Total cash farm expense 227,310 36,221 62,994 145,591 269,899 524,397 1,221,977
Net cash farm income 60,346 -3,568 14,463 31,301 75,337 174,247 297,325
Inventory change 25,405 15,335 4,284 18,775 27,505 53,692 133,686
Depreciation and capital adjust -20,064 -4,611 -7,758 -12,159 -25,157 -39,542 -114,979
Net farm income 65,687 7,156 10,989 37,917 77,685 188,397 316,032
Profitability (cost)
Labor and management earnings 44,748 3,060 2,615 23,670 53,589 141,713 215,285
Rate of return on assets 8.1 % 1.1 % 1.5 % 5.5 % 8.6 % 12.6 % 10.1 %
Rate of return on equity 10.8 % -5.0 % -3.2 % 6.2 % 11.6 % 17.7 % 13.4 %
Operating profit margin 19.2 % 3.8 % 7.1 % 15.5 % 19.5 % 24.4 % 20.0 %
Asset turnover rate 42.0 % 28.5 % 21.5 % 35.7 % 43.8 % 51.4 % 50.3 %
Liquidity
Ending current ratio 1.55 1.33 1.27 1.53 1.52 1.80 -
Ending working capital 64,413 9,736 11,843 44,017 80,008 190,852 -
End working capital to gross inc 22.4 % 29.8 % 15.3 % 24.9 % 23.2 % 27.3 % - %
Term debt coverage ratio 178.7 % 143.5 % 102.8 % 135.0 % 174.5 % 256.2 % 353.1 %
Expense as a percent of income 72.1 % 76.3 % 76.7 % 74.2 % 72.0 % 68.9 % 73.3 %
Interest as a percent of income 5.6 % 10.2 % 11.9 % 6.7 % 5.6 % 4.3 % 3.6 %
Solvency (cost)
Number of sole proprietors 412 26 42 164 141 35 4
Ending farm assets 670,557 186,611 342,890 513,541 826,201 1,421,687 -
Ending farm liabilities 333,925 114,250 198,657 272,820 400,456 606,381 -
Ending total assets 771,512 242,272 395,016 595,042 946,288 1,630,985 -
Ending total liabilities 355,003 134,273 218,550 290,076 423,499 641,304 -
Ending net worth 416,509 107,999 176,466 304,966 522,789 989,681 -
Net worth change 45,706 19,604 11,771 25,965 55,899 146,537 -
Ending farm debt to asset ratio 50 % 61 % 58 % 53 % 48 % 43 % - %
Beg total debt to asset ratio 47 % 51 % 55 % 49 % 46 % 42 % - %
End total debt to asset ratio 46 % 55 % 55 % 49 % 45 % 39 % - %
Nonfarm Information
Net nonfarm income 21,011 28,273 27,521 20,129 18,665 20,442 27,571
Farms reporting living expenses 300 17 32 121 108 20 2
Total family living expense 37,008 25,368 27,132 32,860 43,160 54,215 -
Total living, invest, & capital 52,404 34,735 34,788 45,579 61,508 87,640 -
Crop Acres
Total acres owned 853 303 622 804 949 1,105 1,892
Total crop acres 1,733 401 630 1,217 2,136 3,507 6,819
Total crop acres owned 504 133 294 397 608 936 1,073
Total crop acres cash rented 983 215 245 607 1,207 2,187 5,379
Total crop acres share rented 247 52 90 214 321 384 366
|