Saturday 17 October 2026 Export ADC’s income statement to Excel — free account

Agree Realty Corporation

Agree Realty Corporation’s revenue for fiscal 2025 (year ended December 2025) was $718.4 million, up 16.4% from fiscal 2024. In the quarter to June 2026, revenue grew 16.9%, EPS grew 2.33%, free cash flow fell 56.3% and total debt rose 18.7%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for ten, operating cash flow growth for ten; insiders bought in the last twelve months.

66.97 0.41 +0.62%

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Market cap: $8.3B
P/E: 36.0×
Fwd P/E: 37.9×
Dividend yield: 4.74%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
P/E ratio Full definition →	40.69	39.14	37.14	38.36	40.09	37.83	35.80	32.48	24.61	23.58
Piotroski F-Score Full definition →	5	6	4	4	6	3	6	3	4	5
P/S ratio Full definition →	11.10	11.54	11.25	12.92	14.05	13.89	15.19	13.83	12.74	11.55
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P/Operating CF Full definition →	71.65	77.93	61.68	59.58	78.99	66.24	74.61	65.39	52.59	66.46
P/B ratio Full definition →	1.31	1.33	1.20	1.25	1.47	1.37	1.68	1.53	1.56	1.54
Price to Tangible BV Full definition →	1.57	1.59	1.45	1.52	1.85	1.68	2.11	1.98	1.98	1.94
EV/Sales Full definition →	15.67	16.05	15.71	17.37	18.89	18.76	19.76	18.69	16.94	15.56
EV/EBITDA Full definition →	18.05	18.04	18.03	19.18	20.51	21.47	21.18	21.76	19.75	18.79
EV/Operating CF Full definition →	22.32	22.92	21.57	20.61	26.03	32.62	29.23	27.48	22.99	23.07
EV/FCF Full definition →	(10.85)	(21.95)	(9.57)	(5.96)	(5.62)	(4.04)	(6.85)	(5.41)	(8.00)	(6.06)
Quick Ratio Full definition →	0.81	0.78	0.74	0.88	1.11	0.41	0.57	1.79	2.15	2.15
Current Ratio Full definition →	0.81	0.78	0.74	0.88	1.11	0.41	0.57	1.79	2.15	2.15
Net Debt/EBITDA Full definition →	5.26	5.06	5.12	4.92	5.26	5.58	4.90	5.66	4.90	4.85
Debt/Assets Full definition →	33.63%	32.82%	31.01%	28.90%	32.29%	31.35%	32.74%	35.52%	34.76%	35.11%
Debt/Equity Full definition →	0.53	0.51	0.46	0.42	0.49	0.48	0.52	0.58	0.57	0.58
Asset Turnover Full definition →	0.08	0.08	0.07	0.07	0.07	0.08	0.08	0.08	0.08	0.09
Operating CF/Net income Full definition →	2.56	2.38	2.41	2.50	2.05	1.56	1.58	1.60	1.41	1.37
Capex/Depreciation Full definition →	(5.44)	(3.58)	(5.95)	(9.45)	(11.33)	(15.44)	(11.03)	(12.66)	(9.73)	(12.30)
Interest Coverage Full definition →	2.53	2.78	3.14	3.44	3.78	3.32	3.46	2.94	3.47	3.37
ROE Full definition →	3.44%	3.51%	3.43%	3.77%	4.16%	4.33%	5.47%	5.41%	7.28%	7.92%
ROA Full definition →	2.15%	2.24%	2.24%	2.43%	2.64%	2.79%	3.41%	3.30%	4.41%	4.67%
ROIC Full definition →	2.23%	2.28%	2.09%	2.08%	2.35%	2.23%	2.81%	2.40%	2.85%	3.07%
Return on Tangible Assets Full definition →	2.31%	2.46%	2.42%	2.53%	2.74%	2.82%	3.66%	3.43%	4.65%	4.63%
Average Days of Receivables Full definition →	62.23	62.94	56.33	55.91	57.49	55.52	52.19	57.36	50.66	46.00
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	6.13%	6.03%	6.47%	7.01%	7.50%	8.37%	8.30%	8.57%	8.45%	8.59%
Intangible Assets out of Total Assets Full definition →	0.10	0.10	0.11	0.12	0.13	0.12	0.13	0.14	0.13	0.12
Share Based Compensation of Revenue Full definition →	1.81%	1.75%	1.55%	1.50%	1.41%	1.89%	2.12%	2.15%	2.15%	2.47%
Graham Net Nets Full definition →	(0.42)	(0.40)	(0.41)	(0.36)	(0.36)	(0.38)	(0.33)	(0.38)	(0.36)	(0.39)
Graham Number Full definition →	46.83	46.23	45.07	48.42	44.10	43.93	42.88	39.77	39.38	36.36
Earnings Yield Full definition →	2.46%	2.56%	2.69%	2.61%	2.49%	2.64%	2.79%	3.08%	4.06%	4.24%
Free Cash Flow Yield Full definition →	(13.01%)	(6.33%)	(14.60%)	(22.58%)	(23.91%)	(33.48%)	(18.98%)	(24.98%)	(16.63%)	(22.25%)
Revenue per Share Full definition →	6.49	6.10	5.65	5.46	5.08	4.80	4.62	4.28	4.04	4.00
Operating CF per Share Full definition →	4.55	4.27	4.11	4.60	3.69	2.76	3.12	2.91	2.98	2.70
Capex per Share Full definition →	(13.92)	(8.73)	(13.39)	(20.54)	(20.75)	(25.05)	(16.44)	(17.67)	(11.53)	(12.98)
Free Cash Flow per Share Full definition →	(9.37)	(4.46)	(9.28)	(15.93)	(17.06)	(22.29)	(13.32)	(14.77)	(8.55)	(10.28)
Cash per Share Full definition →	0.15	0.06	0.11	0.35	0.65	0.12	0.38	1.68	1.84	1.46
Shareholders Equity per Share Full definition →	56.64	54.51	54.63	58.87	51.19	48.73	41.69	38.62	32.98	29.98
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	56.64	54.51	54.63	58.87	51.19	48.73	41.69	38.62	32.98	29.98
Free Cash Flow Full definition →	(1,037.33)	(451.03)	(882.95)	(1,253.35)	(1,139.83)	(1,155.66)	(540.40)	(473.53)	(236.33)	(235.13)
Working Capital Full definition →	(32.77)	(31.30)	(33.07)	(12.46)	9.81	(61.99)	(31.59)	33.43	35.40	24.05
Capital Expenditures Full definition →	(1,541.46)	(883.00)	(1,274.55)	(1,615.47)	(1,386.15)	(1,298.61)	(667.11)	(566.78)	(318.53)	(296.87)
Net Current Asset Value Full definition →	(3,387.69)	(2,862.97)	(2,480.82)	(1,989.19)	(1,710.90)	(1,315.99)	(930.56)	(714.20)	(517.16)	(411.53)
EV/EBIT Full definition →	33.06	32.76	33.20	34.23	33.70	35.03	32.38	35.10	30.01	27.57
Capex to Sales Full definition →	2.15	1.43	2.37	3.76	4.09	5.22	3.56	4.13	2.86	3.24
Price to Operating Income Full definition →	23.43	23.57	23.77	25.46	25.05	25.92	24.89	25.97	22.57	20.46
Other line items
Depreciation/Fixed assets Full definition →	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Cash ROIC Full definition →	(10.83%)	(5.43%)	(11.58%)	(19.00%)	(22.13%)	(30.81%)	(20.95%)	(23.53%)	(15.95%)	(21.00%)
Accounts Receivable Turnover Full definition →	6.28	6.52	7.22	7.21	7.44	7.69	7.75	7.41	8.26	9.66
Accounts Payable Turnover Full definition →	0.69	0.69	0.72	0.68	0.58	0.53	0.67	1.06	1.49	2.04
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	577.16	567.00	554.75	584.51	622.29	820.65	760.51	451.56	326.88	235.36
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	114.45	94.69	74.40	59.64	45.63	32.31	24.18	18.51	13.51	9.48
Average Payables Full definition →	127.83	108.84	92.56	76.86	70.70	60.19	35.02	16.11	8.35	4.21
Average Assets Full definition →	9,142.03	8,130.64	7,244.01	5,970.05	4,556.54	3,275.36	2,346.36	1,761.41	1,318.30	965.94
Average Common Equity Full definition →	5,715.91	5,180.41	4,740.27	3,849.85	2,885.28	2,108.90	1,465.02	1,074.84	798.35	569.56

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