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Federal Agricultural Mortgage Corporation

AGM Financial Credit Services

Federal Agricultural Mortgage Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, roughly unchanged from fiscal 2024.

Revenue
+12.9%
EPS
+20.7%
Free cash flow
+188.6%
Total debt
+3.07%

Quarter to June 2026, against a year earlier

179.40 18.57 −9.38%
Market cap
$2.1B
P/E
10.8×
Fwd P/E
9.8×
Dividend yield
3.18%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 15.94%

Capital & Financial Ratios $m

Size
Market Cap 2,090.00
Revenue ttm 1,721.12
Net income ttm 229.00
Free cash flow ttm 312.24
Net debt Q 1,235.00
Valuation
P/E 10.79
Forward P/E 9.76
Price / sales 1.25
Forward P/S Powerpack
Price / FCF 6.89
Price / book 1.72
Financial health
Current ratio Q 0.56
Debt / equity Q 1.23
Interest coverage Q —
Growth
Revenue growth Q +12.93% (above 0%: growing)
Operating income growth Q +25.07% (above 0%: growing)
EPS, this year +24.23% (at or above 15%: strong)
EPS, next year A +11.48%
Revenue, next year A −70.50% (below 0%: weak)
EPS, past 5 yrs +14.98%
EPS, next 5 yrs A +14.30%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 68.54%
10-year low 10-year high
P/S against its own 10 years 19.66%
10-year low 10-year high
P/B against its own 10 years 65.35%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.18%
Annual rate
6.30
Payout ratio
34.4%
Growth, 2017–25
+19.5%/yr
  1. 1.44 ’17
  2. 2.32 ’18 +61
  3. 2.80 ’19 +21
  4. 3.20 ’20 +14
  5. 3.52 ’21 +10
  6. 3.80 ’22 +8
  7. 4.40 ’23 +16
  8. 5.60 ’24 +27
  9. 6.00 ’25 +7
  10. 6.45 ’26e +7
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 890 1,024 931 1,038
Receivables — — — —
Inventory — — — —
Other — — — —
12,266 14,590 17,667 19,652
2023 2024 2025 Q'26
Payables 77 213 — —
ST’ Debt — — — —
Other — — — —
26,595 27,566 31,056 34,962

Compound Annual Growth %

10y 5y 3y
Sales 19.05% 25.34% 29.21%
Cash Flow (8.03%) 0.00% (53.75%)
Earnings 14.44% 13.97% 6.52%
Book Value 11.99% 11.61% 10.56%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 4.98 Actual 5.40

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 4.43 4.52 Beat by 0.09
Q4 FY25 4.50 3.66 Miss by 0.84
Q1 FY26 4.52 4.74 Beat by 0.22
Q2 FY26 4.98 5.40 Beat by 0.42
Q3 FY26 5.22 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 4.75 5.41 — — —
’25 4.01 4.48 4.44 3.71 16.62
’24 4.28 3.68 3.86 4.63 16.44
’23 3.69 3.70 4.69 3.73 15.81
’22 3.77 3.60 3.18 3.36 13.87
’21 2.58 2.35 2.24 2.75 9.92
’20 0.87 2.94 1.73 2.73 8.27
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 424 457 — — —
’25 385 405 421 419 1,630
’24 404 406 411 404 1,625
’23 321 350 391 354 1,416
’22 137 147 198 273 756
’21 116 108 112 114 449
’20 145 139 111 132 527
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 92 40 — — —
’25 (50) (48) 74 103 80
’24 233 56 (44) 368 613
’23 61 119 363 (167) 376
’22 269 257 180 103 809
’21 398 (92) 127 3 436
’20 (330) 23 82 131 (95)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 92 42 — — —
’25 (49) (48) 74 104 81
’24 232 53 (44) 368 607
’23 61 119 363 (167) 376
’22 269 257 180 103 809
’21 398 (92) 127 3 436
’20 (328) 23 82 133 (90)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 332 418 556 666 527 449 756 1,416 1,625 1,630 1,721 +19.3% 481 543 560 (30.0%)
Gross margin, % 48.36 41.90 33.47 29.14 40.60 54.57 40.98 24.80 23.09 25.06 25.89 (23.3) pt
EBT 119 131 136 139 145 172 226 253 258 256 280 +8.8%
EBT margin, % 35.91 31.26 24.47 20.82 27.46 38.41 29.87 17.88 15.89 15.69 16.29 (20.2) pt
Net income 77 84 108 110 114 136 178 200 207 207 229 +11.6%
Per share, $
Per share, $ Revenue 31.72 39.46 52.18 62.27 49.11 41.74 70.02 130.74 149.41 149.38 158.64 +18.8%
Earnings 6.12 6.73 8.91 8.76 8.31 10.00 14.00 15.97 16.59 16.73 18.39 +11.8%
Cash flow 20.30 16.52 18.78 (1.84) (8.81) 40.57 75.00 34.70 56.34 7.34 28.58 (10.7%)
Capex 0.03 0.76 0.01 0.00 0.39 0.00 0.00 0.00 (0.48) 0.10 0.20 +14.6%
Free cash flow 20.33 17.28 18.79 (1.84) (8.42) 40.57 75.00 34.70 55.86 7.43 28.78 (10.6%)
Book value 61.43 66.84 70.64 74.73 92.51 112.82 117.87 130.38 136.93 157.54 170.93 +11.0%
Shares, m 10 11 11 11 11 11 11 11 11 11 11 +0.5%
Valuation, ×
Valuation, × P/E 9.47 11.79 6.78 9.53 8.94 12.39 8.10 11.71 11.86 10.50 10.79 10.1
P/S 1.83 2.00 1.16 1.34 1.51 2.97 1.62 1.43 1.32 1.18 1.25 1.6
P/B 1.38 1.66 1.18 1.56 1.27 1.83 1.56 2.18 1.99 1.58 1.72 1.6
EV/Sales 4.52 4.70 3.20 2.92 2.12 3.22 2.11 1.79 1.91 2.09 — 2.9
EV/FCF 7.05 10.72 8.80 (108.20) (12.34) 3.28 1.96 6.67 5.10 41.98 — (3.5)
Cash, $m
Cash, $m Operating cash flow 213 175 200 (20) (95) 436 809 376 613 80 310 (10.3%)
Capex 0 8 0 — 4 — — — (5) 1 2 +15.1%
Free cash flow 213 183 200 (20) (90) 436 809 376 607 81 312 (10.2%)
Balance, $m
Balance, $m Working capital (8,768) (9,835) (10,182) (11,404) (12,171) (12,471) (13,311) (14,329) (12,977) (13,390) (15,311) +4.8%
Net debt 894 1,128 1,132 1,049 319 112 366 509 954 1,489 1,235 +5.8%
Shareholders’ equity 644 708 753 799 992 1,214 1,272 1,412 1,489 1,719 1,854 +11.5%
Returns, %
Returns, % ROA 0.41 0.43 0.52 0.46 0.41 0.45 0.58 0.61 0.59 0.55 0.55 +0.1 pt
ROIC 4.85 4.45 4.51 4.69 6.90 8.13 8.61 8.24 6.60 4.98 5.67 +0.1 pt
ROE 16.29 15.13 18.06 16.74 15.82 16.40 19.91 20.16 18.00 15.95 16.79 (0.3) pt
People
People Employees 81 88 103 103 121 153 158 185 191 212 — +11.3%
Revenue/emp, $m 4.10 4.75 5.40 6.47 4.35 2.93 4.78 7.65 8.51 7.69 — +7.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Federal Agricultural Mortgage Corporation vs peers in Credit Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BFH Bread Financial Holdings, Inc. $3.9B 8.0× 8.0× +2.96% (above 0%: growing) −1.26% (below 0%: shrinking) +0.17% (above 0%: growing) 100.00% 76.97% Compare
SLM SLM Corporation $3.2B 6.3× 8.9× −21.40% (below 0%: shrinking) n/m −115.63% (below 0%: shrinking) 57.53% 0.00% Compare
ECPG Encore Capital Group Inc $2.7B 7.8× 7.4× +18.29% (above 0%: growing) +80.12% (above 0%: growing) +41.19% (above 0%: growing) 100.00% 0.00% Compare
WU The Western Union Company $2.2B 6.5× 5.7× −2.26% (below 0%: shrinking) −41.86% (below 0%: shrinking) −69.40% (below 0%: shrinking) 33.98% 12.96% Compare
UPST Upstart Holdings, Inc. $2.2B 38.2× 33.9× −25.21% (below 0%: shrinking) −0.30% (below 0%: shrinking) +107.56% (above 0%: growing) 82.03% 8.54% Compare
AGM Federal Agricultural Mortgage Corporation $2.1B 10.8× 9.8× +12.93% (above 0%: growing) +20.67% (above 0%: growing) +188.57% (above 0%: growing) 27.34% 0.00%
EZPW EZCORP, Inc. $1.8B 11.2× 13.8× +34.65% (above 0%: growing) +37.78% (above 0%: growing) +27.86% (above 0%: growing) 58.79% 13.09% Compare
ATLC Atlanticus Holdings Corporation $1.5B 6.8× 9.2× +56.84% (above 0%: growing) +307.33% (above 0%: growing) +135.83% (above 0%: growing) 84.79% 0.00% Compare
JCAP Jefferson Capital, Inc. $1.2B 8.5× 7.0× +16.26% (above 0%: growing) −96.40% (below 0%: shrinking) −45.57% (below 0%: shrinking) 63.06% 45.87% Compare
Median of peers $2.2B 7.9× 8.4× +9.61% −0.30% +14.02% 72.55% 10.75%

All 53 Credit Services stocks →

Pay and ownership Proxy statement filed 13 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 4.03m 3.38m 277.00
2024 3.26m 5.26m 281.00
2023 5.63m 8.78m 284.00
2022 3.53m 3.09m 152.00
2021 3.21m 5.06m 161.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Federal Agricultural Mortgage Corporation (AGM) Latest News

6 Nov

Impact 3 · · MarketBeat

5 Nov

Impact 3 · · PR Newswire

22 Sep

Impact 3 · · Zacks

11 Aug

Impact 4 ·

31 Jul

Impact 3 · · MarketBeat transcript
Impact 3 ·

30 Jul

Impact 4 ·
Impact 3 ·
Impact 3 ·

11 Jun

Impact 3 ·

15 May

Impact 3 · · StockStory

14 May

Impact 3 · · Zacks

12 May

Impact 4 · · PR Newswire

9 May

Impact 4 · · Simply Wall St.

6 May

Impact 3 · · MarketBeat

5 May

Impact 4 · · Zacks
Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · PR Newswire
Impact 3 · · StockStory

4 May

Impact 3 · · StockStory

25 Apr

Impact 3 · · Simply Wall St.

2 Apr

Impact 3 · · StockStory

23 Mar

Impact 4 · · MarketBeat

28 Feb

Impact 3 · · Simply Wall St.

21 Feb

Impact 4 · · Moby

20 Feb

Impact 4 · · StockStory
Impact 4 · · MarketBeat
Impact 4 · · GuruFocus.com

19 Feb

Impact 3 · · ZacksAssociated Press FinanceStockStory

AGM metrics, ten years each

stockrow.com/AGM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com