Agree Realty Corporation (ADC)
NYSE: ADC · Real-Time Price · USD
66.00
-1.00 (-1.49%)
Oct 28, 2026, 3:16 PM EDT - Market open
Agree Realty Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 241.09 | 204.35 | 189.2 | 169.96 | 152.44 | 122.27 |
Depreciation & Amortization | 314 | 274.97 | 239.64 | 208.8 | 166.35 | 92.19 |
Other Amortization | 9.28 | 8.17 | 6.91 | 5.31 | 4.62 | 31.44 |
Gain (Loss) on Sale of Assets | -11.31 | -5.39 | -11.44 | -1.85 | -5.34 | -14.94 |
Gain (Loss) on Sale of Investments | 19.38 | 13.55 | 4.36 | - | 28.41 | 16.75 |
Asset Writedown | 8.9 | 11.87 | 7.22 | 7.18 | 1.02 | 1.92 |
Stock-Based Compensation | 14.26 | 12.99 | 10.81 | 8.34 | 6.46 | 4.8 |
Change in Accounts Receivable | -4.58 | 1.18 | -12.09 | -5.09 | 0.8 | -4.45 |
Change in Accounts Payable | 6.87 | 5.74 | 14.25 | 10.38 | 15.05 | 10.83 |
Change in Other Net Operating Assets | -4.82 | -6.58 | -4.8 | 0.12 | 4.89 | -3.23 |
Other Operating Activities | -21.03 | -16.72 | -12.08 | -11.55 | -12.58 | -11.25 |
Operating Cash Flow | 572.04 | 504.14 | 431.97 | 391.6 | 362.12 | 246.32 |
Operating Cash Flow Growth | 18.14% | 16.71% | 10.31% | 8.14% | 47.02% | 72.30% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Acquisition of Real Estate Assets | -1,704 | -1,584 | -977.33 | -1,288 | -1,660 | -1,442 |
Sale of Real Estate Assets | 84.03 | 42.07 | 94.33 | 13.84 | 44.91 | 56 |
Net Sale / Acq. of Real Estate Assets | -1,620 | -1,541 | -883 | -1,275 | -1,615 | -1,386 |
Investing Cash Flow | -1,618 | -1,543 | -885.41 | -1,275 | -1,616 | -1,387 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 29,355 | 1,517 | 1,581 | 1,333 | 1,235 |
Long-Term Debt Repaid | - | -28,847 | -1,148 | -1,110 | -1,119 | -766.8 |
Net Debt Issued (Repaid) | 354.1 | 508.66 | 368.68 | 471.47 | 213.02 | 467.82 |
Issuance of Common Stock | 1,167 | 904.31 | 402.94 | 689.9 | 1,258 | 744.85 |
Repurchase of Common Stock | -6.18 | -3.74 | -2.28 | -2.68 | -1.91 | -1.81 |
Preferred Stock Issued | - | - | - | - | - | 170.31 |
Common Dividends Paid | -379.62 | -340.65 | -303.6 | -277.68 | -220.3 | -194.3 |
Preferred Dividends Paid | -7.44 | -7.44 | -7.44 | -7.44 | -7.44 | -1.53 |
Total Dividends Paid | -387.06 | -348.09 | -311.04 | -285.11 | -227.74 | -195.83 |
Other Financing Activities | -6.82 | -7.93 | -12.99 | -4.56 | -3.68 | -7.75 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Cash Flow | 74.61 | 14.22 | -8.13 | -14.39 | -16.34 | 37.3 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Levered Free Cash Flow | 478.11 | 433.69 | 371.83 | 324.01 | 283.99 | 162.29 |
Unlevered Free Cash Flow | 565.68 | 510.41 | 433.57 | 369.97 | 319.57 | 190.16 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 142.72 | 129.15 | 101.81 | 70.79 | 58.78 | 56.15 |
Cash Income Tax Paid | 1.44 | 1.61 | 3.71 | 3.07 | 2.4 | 1.82 |
Change in Working Capital | -2.53 | 0.34 | -2.64 | 5.42 | 20.74 | 3.15 |