AGNC Investment vs Starwood Property Trust
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The short version
- AGNC Investment is the larger business, with $3.5B of revenue in fiscal 2025 against $1.8B for Starwood Property Trust, about 1.9 times as much.
- AGNC Investment grew revenue faster (19.5%, against β5.3%).
- Investors pay more for each dollar of Starwood Property Trustβs earnings: a P/E of 21.3x against 4.6x for AGNC Investment.
| Latest fiscal year | AGNC Β· FY25 | STWD Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.3B | $4.6B |
| Revenue | $3.5B | $1.8B |
| Free cash flow | β | $99.4M |
| Net income | $1.7B | $412M |
| Growth | ||
| Revenue growth | 19.5% | β5.3% |
| 5-year growth | 18.3% | 10.2% |
| Share count change | 30.2% | 9.2% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 47.4% | 22.3% |
| FCF margin | β | 5.4% |
| Return on capital | β | β |
| Return on equity | 15.1% | 6.2% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $1.6B | $669M |
| Valuation & quality | ||
| P/E | 4.6x | 21.3x |
| Piotroski F-score | β | β |
Revenue
FY16
AGNC $1.3B
STWD $785M
FY17
AGNC $1.3B
STWD $880M
FY18
AGNC $1.9B
STWD $1.1B
FY19
AGNC $2.8B
STWD $1.2B
FY20
AGNC $1.5B
STWD $1.1B
FY21
AGNC $1.4B
STWD $1.2B
FY22
AGNC $1.6B
STWD $1.5B
FY23
AGNC $2.0B
STWD $2.0B
FY24
AGNC $2.9B
STWD $1.9B
FY25
AGNC $3.5B
STWD $1.8B
AGNC
STWD
Operating margin
FY16
AGNC β
STWD 17.0%
FY17
AGNC β
STWD 16.4%
FY18
AGNC β
STWD β
FY19
AGNC β
STWD β
FY20
AGNC β
STWD β
FY21
AGNC β
STWD β
FY22
AGNC β
STWD β
FY23
AGNC β
STWD β
FY24
AGNC β
STWD β
FY25
AGNC β
STWD β
AGNC
STWD
Free cash flow
FY16
AGNC β
STWD $541M
FY17
AGNC β
STWD β$821M
FY18
AGNC β
STWD $531M
FY19
AGNC β
STWD β$44.1M
FY20
AGNC β
STWD $1.0B
FY21
AGNC β
STWD β$1.0B
FY22
AGNC β
STWD $189M
FY23
AGNC β
STWD $529M
FY24
AGNC β
STWD $647M
FY25
AGNC β
STWD $99.4M
AGNC
STWD
Return on capital
FY16
AGNC β
STWD β
FY17
AGNC β
STWD β
FY18
AGNC β
STWD β
FY19
AGNC β
STWD β
FY20
AGNC β
STWD β
FY21
AGNC β
STWD β
FY22
AGNC β
STWD β
FY23
AGNC β
STWD β
FY24
AGNC β
STWD β
FY25
AGNC β
STWD β
AGNC
STWD
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.