Agree Realty
ADC NYSE· Retail REITs
Last close · Oct 26, 2026
$67.39
KIRA · Stoqly’s AI analyst, in plain words
- Agree Realty had $718M of revenue in fiscal 2025, up 16.4% on the year before. Over five years, revenue changed +23.6% a year on average.
- Its operating margin was 47.4%, down 1.6 pts: of every 100 in sales, about 47 is left after running the business.
- Agree Realty made $204M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew −1.2% a year.
- Free cash flow was $504M in fiscal 2025, 70.2% of revenue.
- Agree Realty returned $344M to shareholders in fiscal 2025, 68% of free cash flow. The diluted share count rose 9.2%.
Market cap
$8.4B
P/E
34.7x
Revenue
$718M
Net income
$204M
Free cash flow
$504M
Operating margin
47.4%
Agree Realty in 30 seconds · fiscal 2025
Are sales growing?
+16.4%
Yes. Sales grew 16.4% last year.
Does it make a profit?
28.5%
Yes. It keeps 28.5% of every sale as profit.
Does profit turn into cash?
70.2%
Yes. 70.2% of sales ends up as free cash.
How is the share priced?
34.7x
One share costs 34.7 times its yearly profit per share. Typical for its sector: 27.8x.
What Agree Realty does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 10, 2026
- Legal name
- AGREE REALTY CORPORATION
- CIK
- 0000917251
Agree Realty · ADC
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $339M | $430M | $538M | $617M | $718M |
| Revenue growth | 36.5% | 26.7% | 25.1% | 14.8% | 16.4% |
| Operating margin | 56.1% | 50.7% | 47.3% | 49.0% | 47.4% |
| Net income | $122M | $152M | $170M | $189M | $204M |
| Net margin | 36.0% | 35.5% | 31.6% | 30.7% | 28.5% |
| Diluted EPS | $1.78 | $1.83 | $1.70 | $1.78 | $1.77 |
| Cash | |||||
| Cash from operations | $246M | $362M | $392M | $432M | $504M |
| Capital expenditure | $1.4B | $1.6B | $1.2B | $875M | $0.0M |
| Free cash flow | −$1.1B | −$1.2B | −$808M | −$443M | $504M |
| FCF margin | −337.1% | −288.0% | −150.4% | −71.7% | 70.2% |
| Dividends paid | $194M | $220M | $278M | $304M | $341M |
| Share buybacks | $1.8M | $1.9M | $2.7M | $2.3M | $3.7M |
| Share count change | 28.1% | 17.9% | 20.6% | 6.8% | 9.2% |
| Debt and strength | |||||
| Cash and short-term investments | $43.3M | $27.8M | $10.9M | $6.4M | $16.3M |
| Shareholders' equity | $3.4B | $4.6B | $5.2B | $5.5B | $6.3B |
| Interest coverage | 3.8x | 3.4x | 3.1x | 2.8x | 2.5x |
| Returns and quality | |||||
| Return on equity | 4.1% | 3.8% | 3.5% | 3.5% | 3.5% |
Insiders bought, 12 months
$9.9M
6 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Agree Realty · ADC
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Agree Realty ADC | $8.4B | 16.4% | 47.4% | 70.2% | — | 34.7x | — |
| Kite Realty Group Trust KRG | $5.0B | 0.8% | — | 32.9% | 7.1% | 15.3x | — |
| NNN Reit NNN | $7.9B | 6.6% | 63.6% | — | — | — | — |
| Federal Realty Investment Tr... FRT | $9.5B | 6.4% | 47.1% | — | 6.0% | 19.0x | — |
| Brixmor Property Group BRX | $8.7B | 6.7% | — | — | — | 20.1x | — |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $67.39 a share, the company is worth $8.4B: 34.7 times its earnings of the last four quarters.
Agree Realty grew sales faster than 4 of its 4 similar companies. Its P/E is higher than 3 of 3.
Source: SEC EDGAR XBRL filings (CIK 0000917251). Data updated October 20, 2026. For information only — not investment advice. Check the original filings before relying on any figure.