Measuring & Analyzing Farm Financial Performance

USDA’s first 2026 Farm Income and Wealth Statistics release provides an early look at the U.S. farm balance sheet heading into the next production cycle. Farm assets and equity are projected to grow at the slowest pace since 2019–2020, while farm debt accumulation accelerates for the third time in four years. Non-real estate assets are expected to decline, driven by reductions in livestock and crop inventories, even as machinery investment continues rising. Key efficiency ratios remain near historic lows, signaling tighter production returns relative to asset values.