Agree Realty Corporation (ADC)
NYSE: ADC · Real-Time Price · USD
66.70
-0.37 (-0.55%)
At close: Oct 23, 2026, 4:00 PM EDT
67.23
+0.53 (0.79%)
After-hours: Oct 23, 2026, 7:30 PM EDT
Agree Realty Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
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 |
Rental Revenue | 809.93 | 718.16 | 616.82 | 537.4 | 429.63 | 339.07 |
Other Revenue | 0.36 | 0.24 | 0.27 | 0.09 | 0.18 | 0.26 |
| 810.28 | 718.4 | 617.1 | 537.5 | 429.81 | 339.32 | |
Revenue Growth (YoY | 17.66% | 16.42% | 14.81% | 25.05% | 26.67% | 36.51% |
Property Expenses | 100.56 | 88.15 | 74.85 | 66.72 | 52.28 | 41.06 |
Selling, General & Administrative | 46.9 | 44.06 | 37.23 | 34.79 | 30.12 | 25.46 |
Depreciation & Amortization | 271.14 | 239.31 | 206.99 | 176.28 | 133.57 | 95.73 |
Total Operating Expenses | 418.61 | 371.52 | 319.07 | 277.78 | 215.97 | 162.25 |
Operating Income | 391.68 | 346.88 | 298.03 | 259.71 | 213.84 | 177.08 |
Interest Expense | -153.61 | -134.61 | -108.9 | -81.12 | -63.44 | -50.38 |
Other Non-Operating Income | 1.04 | 0.94 | 0.8 | 0.19 | 1.25 | - |
EBT Excluding Unusual Items | 239.11 | 213.21 | 189.92 | 178.78 | 151.65 | 126.7 |
Gain (Loss) on Sale of Assets | 13.1 | 5.39 | 11.44 | 1.85 | 5.26 | 15.11 |
Asset Writedown | -8.9 | -11.87 | -7.22 | -7.18 | -1.02 | -1.92 |
Other Unusual Items | - | - | - | - | - | -14.61 |
Pretax Income | 243.3 | 206.72 | 194.14 | 173.46 | 155.9 | 125.28 |
Income Tax Expense | 1.51 | 1.74 | 4.31 | 2.91 | 2.86 | 2.4 |
Earnings From Continuing Operations | 241.79 | 204.99 | 189.83 | 170.55 | 153.04 | 122.88 |
Minority Interest in Earnings | -0.7 | -0.64 | -0.64 | -0.59 | -0.6 | -0.6 |
Net Income | 241.09 | 204.35 | 189.2 | 169.96 | 152.44 | 122.27 |
Preferred Dividends & Other Adjustments | 7.85 | 7.88 | 7.92 | 7.84 | 7.81 | 2.52 |
Net Income to Common | 233.25 | 196.47 | 181.28 | 162.12 | 144.62 | 119.76 |
Net Income Growth | 25.62% | 8.38% | 11.82% | 12.10% | 20.77% | 31.48% |
Basic Shares Outstanding | 120 | 111 | 101 | 95 | 79 | 67 |
Diluted Shares Outstanding | 120 | 111 | 102 | 95 | 79 | 67 |
Shares Change | 10.66% | 9.15% | 6.75% | 20.56% | 17.91% | 28.14% |
EPS (Basic) | 1.95 | 1.77 | 1.79 | 1.70 | 1.84 | 1.79 |
EPS (Diluted) | 1.94 | 1.77 | 1.78 | 1.70 | 1.83 | 1.78 |
EPS Growth | 13.29% | -0.56% | 4.71% | -7.10% | 2.81% | 2.30% |
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 |
Dividend Per Share | 3.174 | 3.081 | 3.000 | 2.919 | 2.805 | 2.604 |
Dividend Growth | 3.93% | 2.70% | 2.77% | 4.06% | 7.72% | 8.27% |
Operating Margin | 48.34% | 48.28% | 48.30% | 48.32% | 49.75% | 52.19% |
Profit Margin | 28.79% | 27.35% | 29.38% | 30.16% | 33.65% | 35.29% |
EBITDA | 703.37 | 619.75 | 536.07 | 466.82 | 378.6 | 269.26 |
EBITDA Margin | 86.81% | 86.27% | 86.87% | 86.85% | 88.08% | 79.35% |
D&A For Ebitda | 311.7 | 272.87 | 238.04 | 207.1 | 164.75 | 92.19 |
EBIT | 391.68 | 346.88 | 298.03 | 259.71 | 213.84 | 177.08 |
EBIT Margin | 48.34% | 48.28% | 48.30% | 48.32% | 49.75% | 52.19% |
Funds From Operations (FFO) | 498.53 | 441.02 | 383.14 | 343.02 | 274.15 | 202.65 |
FFO Per Share | 4.14 | 3.95 | 3.75 | 3.58 | 3.45 | 3.00 |
Adjusted Funds From Operations (AFFO) | 547.88 | 482.8 | 422.82 | 378.74 | 304.92 | 236.97 |
AFFO Per Share | 4.54 | 4.33 | 4.14 | 3.95 | 3.83 | 3.51 |
FFO Payout Ratio | 76.15% | 77.24% | 79.24% | 80.95% | 80.36% | 95.88% |
Effective Tax Rate | 0.62% | 0.84% | 2.22% | 1.68% | 1.84% | 1.92% |
Revenue as Reported | 810.28 | 718.4 | 617.1 | 537.5 | 429.81 | 339.32 |