Agree Realty Corporation (ADC)
NYSE: ADC · Real-Time Price · USD
75.30
+0.56 (0.75%)
At close: Feb 9, 2026, 4:00 PM EST
75.76
+0.46 (0.61%)
After-hours: Feb 9, 2026, 7:00 PM EST
Agree Realty Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 | Q4 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 | Dec '20 Dec 31, 2020 |
Net Income | 52.12 | 49.2 | 47 | 45.24 | 44.38 | 54.72 | 44.86 | 45.96 | 41.52 | 40.87 | 41.61 | 40.93 | 39.43 | 35.97 | 36.11 | 33.15 | 36.66 | 22.35 | 30.11 | 23.62 |
Depreciation & Amortization | 70.52 | 67.48 | 64.3 | 64.33 | 59.8 | 58.75 | 56.76 | 54.17 | 53.92 | 51.46 | 49.26 | 2.83 | 43.53 | 40.26 | 36.74 | 33.67 | 31.1 | 28.45 | 26.25 | 23.56 |
Other Amortization | 1.92 | 1.79 | 1.7 | 2.3 | 1.96 | 1.39 | 1.27 | 1.84 | 1.24 | 1.11 | 1.11 | 44.68 | 1.05 | 0.82 | 1.06 | 1.33 | 0.63 | 1.77 | 0.43 | 0.88 |
Gain (Loss) on Sale of Assets | -0.93 | -1.51 | -0.77 | -0.41 | -1.85 | -7.16 | -2.1 | -1.55 | 0.02 | -0.32 | - | -0.02 | -3 | -0.02 | -2.31 | -1.76 | -3.47 | -6.77 | -2.95 | -0.44 |
Gain (Loss) on Sale of Investments | - | 13.55 | - | - | - | 4.36 | - | - | - | - | - | - | 28.41 | - | - | - | - | 16.25 | 0.5 | 0.5 |
Asset Writedown | 2.98 | 2.96 | 4.33 | - | 2.69 | - | 4.53 | 2.67 | 3.2 | 1.32 | - | - | - | - | 1.02 | 1.92 | - | - | - | 0.14 |
Stock-Based Compensation | 3.31 | 3.26 | 3.13 | 2.81 | 2.78 | 2.79 | 2.43 | 2.16 | 2.17 | 2.18 | 1.83 | 1.57 | 1.51 | 1.74 | 1.64 | 1.32 | 0.51 | 1.48 | 1.5 | 1.23 |
Change in Accounts Receivable | -4.54 | 1.16 | 4.94 | -5.51 | -0.23 | -0.68 | -5.68 | -2.01 | -4.03 | 3.15 | -2.21 | 16.03 | -13.67 | 1.28 | -2.85 | 11.2 | -6.27 | -6.45 | -2.93 | 1.5 |
Change in Accounts Payable | 28.43 | -7.82 | 13.46 | -22.25 | 24.94 | 0.19 | 11.43 | -10.22 | 12.04 | -6.91 | 15.47 | -2.77 | 12.36 | 7.74 | -2.27 | -7.06 | 12.31 | 19.66 | -14.08 | 1.1 |
Change in Other Net Operating Assets | -2.48 | -6.78 | -7.57 | 7.78 | -2.67 | 1.75 | -11.66 | 8.05 | 2.44 | -0.34 | -10.02 | -6.43 | 12.27 | 3.76 | -4.71 | -1.72 | -3.63 | -4.69 | 6.8 | -0.14 |
Other Operating Activities | -4.82 | -3.63 | -3.86 | -2.9 | -3.18 | -3.31 | -2.69 | -3.05 | -2.66 | -2.96 | -2.88 | -3.64 | -3.04 | -2.94 | -2.96 | -11.7 | 0.17 | 0.11 | 0.17 | 0.15 |
Operating Cash Flow | 146.52 | 119.65 | 126.66 | 91.4 | 128.61 | 112.81 | 99.15 | 98.01 | 109.86 | 89.56 | 94.17 | 93.18 | 118.86 | 88.62 | 61.47 | 60.35 | 68.02 | 72.15 | 45.8 | 52.1 |
Operating Cash Flow Growth | 13.92% | 6.06% | 27.74% | -6.75% | 17.07% | 25.97% | 5.29% | 5.19% | -7.57% | 1.05% | 53.21% | 54.40% | 74.73% | 22.83% | 34.22% | 15.83% | 194.77% | 84.61% | 59.59% | 36.52% |
Acquisition of Real Estate Assets | -458.08 | -350.57 | -383.11 | -378.26 | -241.01 | -215.29 | -142.78 | -201.59 | -420.39 | -335.34 | -331.07 | -433.29 | -381.82 | -398.88 | -446.39 | -326.56 | -345.49 | -373.06 | -397.04 | -367 |
Sale of Real Estate Assets | 14.61 | 5.78 | 2.38 | 30.76 | 6.89 | 35.56 | 21.12 | 10.58 | 0.2 | 3.07 | - | 0.99 | 20 | 16.28 | 7.64 | 9.17 | 11.45 | 25.27 | 10.11 | 1.72 |
Net Sale / Acq. of Real Estate Assets | -443.47 | -344.79 | -380.72 | -347.5 | -234.12 | -179.72 | -121.67 | -191.02 | -420.2 | -332.27 | -331.07 | -432.3 | -361.82 | -382.6 | -438.75 | -317.39 | -334.04 | -347.79 | -386.94 | -365.28 |
Investing Cash Flow | -444.31 | -344.96 | -380.86 | -348.34 | -234.98 | -180.11 | -121.97 | -191.3 | -420.33 | -332.27 | -331.11 | -432.43 | -361.99 | -382.76 | -438.79 | -317.42 | -334.18 | -347.84 | -387.18 | -366.12 |
Long-Term Debt Issued | - | - | 474 | - | - | - | 200 | - | - | - | 385 | - | - | - | 330 | - | - | - | 146 | - |
Total Debt Issued | 12,801 | 6,274 | 474 | 474 | 273 | 569.72 | 200 | 226 | 719 | 251 | 385 | 110 | 542.51 | 350 | 330 | 160 | - | 928.62 | 146 | 3 |
Long-Term Debt Repaid | - | - | -310.25 | - | - | - | -97.24 | - | - | - | -289.22 | - | - | - | -170.21 | - | - | - | -0.2 | - |
Total Debt Repaid | -12,659 | -6,003 | -310.25 | -371.32 | -267.24 | -412.24 | -97.24 | -48.23 | -627.85 | -144.22 | -289.22 | -33.86 | -615.22 | -300.21 | -170.21 | -0.21 | -0.2 | -766.2 | -0.2 | 68.79 |
Net Debt Issued (Repaid) | 141.74 | 271.93 | 163.75 | 102.68 | 5.76 | 157.48 | 102.77 | 177.77 | 91.15 | 106.78 | 95.78 | 76.14 | -72.7 | 49.79 | 159.79 | 159.8 | -0.2 | 162.43 | 145.81 | 71.79 |
Issuance of Common Stock | 251.85 | 41.11 | 183.09 | 227.81 | 175.13 | - | - | - | 289.75 | 205.1 | 195.13 | 105.94 | 601.09 | 300.11 | 250.68 | 93.99 | 55.88 | 336.88 | 258.11 | 266.53 |
Repurchase of Common Stock | -0.06 | -0.01 | -3.65 | -0.02 | -0.07 | -0.01 | -2.18 | -0.1 | -0.06 | -0.01 | -2.61 | -0.03 | -0.07 | -0.08 | -1.75 | -0.01 | -0.03 | - | -1.78 | -0 |
Preferred Stock Issued | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.02 | 170.29 | - | - | - |
Common Dividends Paid | -85.16 | -84.16 | -81.87 | -78.26 | -75.47 | -75.17 | -74.71 | -74.08 | -70.48 | -67.91 | -65.2 | -63.24 | -56.05 | -52.25 | -48.77 | -47.16 | -45.02 | -41.15 | -60.96 | -32.31 |
Preferred Dividends Paid | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.53 | - | - | - | - |
Total Dividends Paid | -87.02 | -86.02 | -83.73 | -80.12 | -77.33 | -77.03 | -76.56 | -75.94 | -72.34 | -69.77 | -67.06 | -65.1 | -57.91 | -54.11 | -50.63 | -48.69 | -45.02 | -41.15 | -60.96 | -32.31 |
Other Financing Activities | -0.75 | -3.96 | -0.5 | -0.24 | -8.13 | -4.33 | -0.29 | -0.3 | -3.89 | -0.08 | -0.28 | -0.31 | -2.87 | -0.24 | -0.26 | -5.6 | -0.33 | -1.45 | -0.38 | -0.26 |
Net Cash Flow | 7.97 | -2.26 | 4.77 | -6.84 | -11.02 | 8.82 | 0.91 | 8.14 | -5.86 | -0.69 | -15.97 | -222.61 | 224.41 | 1.34 | -19.48 | -57.56 | -85.57 | 181.01 | -0.59 | -8.28 |
Cash Interest Paid | 13.12 | 47.05 | 12.27 | 60.52 | 12.7 | 32.07 | 11.75 | 39.65 | 0.78 | 40 | 7.04 | 13.08 | 17.2 | 15.14 | 13.37 | 25.35 | 11.98 | 2.99 | 15.84 | 12.36 |
Cash Income Tax Paid | - | 1.83 | 0.76 | 0.02 | - | 1.41 | 2.69 | 0.02 | 0.03 | 2.74 | 0.28 | 0.02 | 0.04 | 1 | 1.34 | 0.02 | - | - | 1.79 | 0.01 |
Levered Free Cash Flow | 133.54 | 100.11 | 109.39 | 89.42 | 115.87 | 78.75 | 93.29 | 65.23 | 99.14 | 74.96 | 84.67 | 74.75 | 59.58 | 71.38 | 78.27 | 41.39 | 54.95 | 56.73 | 9.35 | 44.67 |
Unlevered Free Cash Flow | 153.63 | 118.5 | 126.92 | 105.89 | 132 | 93.87 | 107.3 | 77.94 | 110.9 | 86.32 | 94.81 | 84.15 | 69.25 | 80.26 | 85.92 | 48.8 | 62.48 | 62.8 | 16.21 | 51.63 |
Change in Working Capital | 21.41 | -13.44 | 10.83 | -19.98 | 22.04 | 1.27 | -5.9 | -4.17 | 10.45 | -4.1 | 3.24 | 6.83 | 10.96 | 12.78 | -9.83 | 2.42 | 2.42 | 8.52 | -10.21 | 2.46 |
Updated Oct 21, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.