Agree Realty Corporation (ADC)

Agree Realty Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Property, Plant & Equipment	8,343	7,466	6,804	5,802	4,427	3,349
Cash & Equivalents	13.7	6.4	10.91	27.76	43.25	6.14
Accounts Receivable	117.6	106.42	82.95	65.84	53.44	37.81
Restricted Cash	3.18	-	3.62	1.15	2	1.82
Other Current Assets	0.71	-	3.64	-	5.68	1.2
Trading Asset Securities	1.37	17.53	-	-	1.87	2.29
Deferred Long-Term Charges	966.96	864.94	854.09	799.45	672.02	473.59
Other Long-Term Assets	37.57	25.56	16.11	17.02	21.84	14.66
Total Assets	9,484	8,486	7,775	6,713	5,227	3,886
Current Portion of Long-Term Debt	-	50	-	4.62	-	-
Current Portion of Leases	0.23	0.61	-	-	-	-
Long-Term Debt	3,366	2,735	2,415	1,935	1,691	1,235
Long-Term Leases	22.27	20.44	23	23.6	24.1	17.3
Accounts Payable	107.01	62.13	52	42.02	29.07	37.11
Other Current Liabilities	31.32	33.38	25.53	22.35	16.88	34.55
Long-Term Unearned Revenue	29	33.1	21.9	18.1	13.5	-
Other Long-Term Liabilities	55.39	40.72	36.83	36.71	33.08	35.7
Total Liabilities	3,611	2,976	2,575	2,083	1,808	1,360
Preferred Stock, Redeemable	175	175	175	175	175	-
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	6,248	5,766	5,354	4,659	3,396	2,652
Distributions in Excess of Earnings	-581.16	-470.62	-346.47	-228.13	-147.37	-91.34
Comprehensive Income & Other	31.53	40.08	16.55	23.55	-5.5	-36.27
Total Common Equity	5,698	5,335	5,024	4,454	3,243	2,524
Minority Interest	0.26	0.62	0.94	1.39	1.63	1.76
Shareholders' Equity	5,873	5,511	5,200	4,630	3,419	2,526
Total Liabilities & Equity	9,484	8,486	7,775	6,713	5,227	3,886
Total Debt	3,388	2,806	2,438	1,964	1,715	1,253
Net Cash (Debt)	-3,373	-2,783	-2,428	-1,936	-1,670	-1,244
Net Cash Per Share	-31.05	-27.31	-25.44	-24.45	-24.87	-23.75
Filing Date Shares Outstanding	114.74	107.03	100.33	89.99	71.11	63.3
Total Common Shares Outstanding	113.94	107.03	100.33	89.99	71.11	59.85
Book Value Per Share	50.01	49.85	50.08	49.49	45.60	42.18
Tangible Book Value	5,698	5,335	5,024	4,454	3,243	2,524
Tangible Book Value Per Share	50.01	49.85	50.08	49.49	45.60	42.18
Land	2,787	2,514	2,282	1,942	1,559	1,095
Buildings	6,124	5,413	4,862	4,055	3,034	2,372
Construction In Progress	64.05	55.81	33.23	65.93	7.15	10.65

Updated Oct 21, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q