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AGNC Investment

AGNC Nasdaq Mortgage REITs Financials FY2016–FY2025

AGNC Investment's revenue rose 19.5% to $3.5 billion in fiscal 2025. Its net margin was 47.4%, up from 29.3% a year earlier. It paid out $1.6 billion in dividends and buybacks. The diluted share count rose 30.2%.

Last close · Oct 23, 2026

$8.84

0.6%
Value it Compare
Revenue Total sales reported in the income statement.
$3.5B
19.5% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$1.7B
93.5%
Free cash flow Cash from operations minus capital spending.
—
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$10.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
4.6x
On $1.94 EPS (TTM)

About these figures. AGNC is a mortgage REIT and reports no revenue line, so revenue is its interest income on mortgage securities, before the interest it pays on its borrowings. Before 2022 its filings tag that income under a different label.

What AGNC Investment does

No business description yet.

Legal name
AGNC INVESTMENT CORP.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001423689-26-000043
0001423689

Revenue and margins

AGNC Investment had $3.5B of revenue in fiscal 2025, up 19.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −2.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.

Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

AGNC Investment returned $1.6B to shareholders in fiscal 2025. The diluted share count rose 30.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value AGNC Investment yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 1,023.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 4.6x · peers 14.5x · sector 13.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably AGNC Investment can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $998M$1.0B$518M$505M$450M
Total assets $68.1B$51.7B$71.6B$88.0B$115.1B
Total liabilities $57.9B$43.9B$63.3B$78.3B$102.7B
Shareholders' equity $10.3B$7.9B$8.3B$9.8B$12.4B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$12.3M

6 insiders

Of sales under plans

17%

$2.1M

DateInsiderTradeSharesPriceValueFiling
Aug 19, 2026 Bernice BellEVP, CFO Sold 15,000 $11.07 $0.2M Form 4
Jul 28, 2026 Bernice BellEVP, CFO Sold 5,000 $11.00 $0.1M Form 4
May 12, 2026 Bernice BellEVP, CFO Sold 10,000 $10.79 $0.1M Form 4
May 6, 2026 Donna BlankDirector Sold 22,000 $10.78 $0.2M Form 4
May 4, 2026 Paul E MullingsDirector Sold 6,800 $10.74 $0.1M Form 4
Apr 28, 2026 Peter J FedericoDirector, President, CEO, CIO, Director Sold plan 64,412 $11.08 $0.7M Form 4
Apr 27, 2026 Peter J FedericoDirector, President, CEO, CIO, Director Sold plan 64,411 $11.03 $0.7M Form 4
Apr 24, 2026 Peter J FedericoDirector, President, CEO, CIO, Director Sold plan 64,411 $10.91 $0.7M Form 4
Feb 19, 2026 Bernice BellEVP, CFO Sold 15,000 $11.36 $0.2M Form 4
Feb 17, 2026 Bernice BellEVP, CFO Sold 35,397 $11.29 $0.4M Form 4
Jan 29, 2026 Gary D KainDirector, Executive Chair, Director Sold 700,000 $11.91 $8.3M Form 4
Jan 28, 2026 Kenneth L. PollackEVP and General Counsel Sold 50,000 $12.11 $0.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✕ ✓ ✓
Return on assets rose ✓ ✓ ✓
Cash from operations exceeds net income ✕ ✕ ✕
Debt fell relative to assets — — —
Current ratio rose — — —
Share count didn't rise ✕ ✕ ✕
Gross margin rose — — —
Revenue rose relative to assets ✓ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio 0.4%1.0%1.0%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
AGNC Investment AGNC $10.3B 19.5% — — — 4.6x —
Annaly Capital Management NLY $13.6B 23.1% — — — 4.5x — Compare →
Starwood Property Trust STWD $4.6B −5.3% — 5.4% — 21.3x — Compare →
Virtu Financial VIRT $4.9B 26.3% — 13.6% 37.9% 9.3x — Compare →
FirstCash FCFS $7.6B 8.0% — 14.5% 10.7% 19.7x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.3B $1.3B $1.9B $2.8B $1.5B $1.4B $1.6B $2.0B $2.9B $3.5B
Interest expense $394M $524M $1.2B $2.1B $674M $75.0M $625M $2.3B $2.9B $2.8B
Net income $623M $771M $129M $688M −$266M $749M −$1.2B $155M $863M $1.7B
Diluted EPS $1.79 $2.04 $0.21 $1.16 −$0.66 $1.22 −$2.41 $0.05 $0.93 $1.47
Diluted shares 0.33B 0.36B 0.44B 0.54B 0.55B 0.53B 0.54B 0.62B 0.79B 1.02B
Cash flow
Cash from operations $1.4B $1.3B $1.1B $1.2B $1.7B $1.5B $1.0B −$118M $86.0M $653M
Stock-based compensation $1.0M $4.0M $6.0M $13.0M $18.0M $19.0M $2.0M $11.0M $18.0M $26.0M
Acquisitions $555M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $116M $0.0M $0.0M $103M $378M $281M $51.0M $0.0M $0.0M $0.0M
Dividends paid $799M $795M $974M $1.1B $970M $860M $869M $1.0B $1.2B $1.6B
Dividends and buybacks $915M $795M $974M $1.2B $1.3B $1.1B $920M $1.0B $1.2B $1.6B
Balance sheet
Cash and short-term investments $1.2B $1.0B $921M $831M $1.0B $998M $1.0B $518M $505M $450M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $56.9B $70.4B $109.2B $113.1B $81.8B $68.1B $51.7B $71.6B $88.0B $115.1B
Total liabilities $49.5B $61.6B $99.3B $102.0B $70.7B $57.9B $43.9B $63.3B $78.3B $102.7B
Shareholders' equity $7.4B $8.8B $9.9B $11.0B $11.1B $10.3B $7.9B $8.3B $9.8B $12.4B
Margins
Net margin 47.2% 59.6% 6.6% 24.2% −17.5% 55.0% −74.8% 7.6% 29.3% 47.4%
Returns
Return on equity 8.1% 9.6% 1.4% 6.6% −2.4% 7.0% −13.1% 1.9% 9.6% 15.1%
Return on assets 1.1% 1.2% 0.1% 0.6% −0.3% 1.0% −2.0% 0.3% 1.1% 1.6%
Growth
Revenue growth −9.9% −2.1% 50.7% 45.8% −46.6% −10.4% 16.8% 28.4% 44.5% 19.5%
Net income growth 189.8% 23.8% −83.3% 433.3% −138.7% — −258.9% — 456.8% 93.5%
EPS growth 231.5% 14.0% −89.7% 452.4% −156.9% — −297.5% — 1,760.0% 58.1%
Share count change −4.8% 8.1% 23.1% 22.7% 1.9% −3.9% 1.3% 15.4% 26.9% 30.2%
Capital allocation
Stock comp / revenue 0.1% 0.3% 0.3% 0.5% 1.2% 1.4% 0.1% 0.5% 0.6% 0.7%
Quality scores
Accruals ratio −1.3% −0.8% −1.1% −0.4% −2.1% −1.1% −3.7% 0.4% 1.0% 1.0%

Source: SEC EDGAR XBRL filings (CIK 0001423689). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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