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Agree Realty Corp (ADC)

Also trades as ADC-PA. Every security a company lists rests on one set of financial statements, so these figures cover the whole company.

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SEC name AGREE REALTY CORP · CIK 0000917251 · NYSE · Real Estate Investment Trusts

  • Sector Finance & Real Estate
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Agree Realty Corp reported revenue of $718.40M. Revenue grew 16.4% from the prior annual period. Over the twelve months to 2026-09-30, revenue was $810.28M.

Key ratios (year ended 2025-12-31)

47.4%
Operating margin
28.4%
Net margin
3.3%
Return on year-end equity
16.4%
Revenue growth (YoY)

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Latest selected filing: Form 8-K (current report) · 2026-10-02

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-09-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-09-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Revenue$810.28M$718.40M$617.10M$537.50M$429.81M$339.32M$248.57M$187.48M$137.12M$111.52M$91.53M
Operating Income$395.87M$340.39M$302.24M$254.39M$218.09M$190.27M$133.13M$114.39M$73.01M$62.96M$51.66M
Depreciation & Amortization$271.14M$239.31M$206.99M$176.28M$133.57M$95.73M$66.76M$45.70M$33.03M$26.66M$23.41M
EBITDA$667.02M$579.70M$509.23M$430.66M$351.65M$286.00M$199.89M$160.10M$106.04M$89.62M$75.07M
Net Income$241.09M$204.35M$189.20M$169.96M$152.44M$122.27M$91.38M$80.08M$58.17M$58.11M$45.12M
EPS (Diluted)n/a$1.77$1.78$1.70$1.83$1.78$1.74$1.93$1.78$2.08$1.97
Total Assets$10.95B$9.80B$8.49B$7.77B$6.71B$5.23B$3.89B$2.66B$2.03B$1.49B$1.14B
Total Liabilities$4.01B$3.53B$2.98B$2.57B$2.08B$1.81B$1.36B$972.97M$789.70M$583.44M$456.46M
Long-Term Debtn/an/an/an/an/a$1.69B$1.23Bn/a$724.06M$522.40M$404.05M
Shareholders' Equity$6.94B$6.27B$5.51B$5.20B$4.63B$3.42B$2.52B$1.69B$1.24B$908.66M$682.98M
Cash & Equivalents$80.56M$16.30M$6.40M$10.91M$27.76M$43.25M$6.14M$15.60M$53.95M$50.81M$33.40M
Operating Cash Flow$572.04M$504.14M$431.97M$391.60M$362.12M$246.31M$142.96M$126.71M$93.25M$82.20M$61.73M
Capital Expendituresn/an/a$874.50M$1.20B$1.60B$1.39B$1.31B$702.90M$608.30Mn/an/a
Free Cash Flown/an/a-$442.53M-$808.40M-$1.24B-$1.14B-$1.17B-$576.19M-$515.05Mn/an/a
Share Repurchases$6.18M$3.74M$2.28M$2.68M$1.91M$1.81M$1.64M$1.41M$1.15M$1.11M$712.0K
Dividends Paid$379.62M$340.65M$303.60M$277.68M$220.30M$194.30M$116.11M$90.26M$67.64M$55.15M$42.06M
Shares Outstanding130.10M120.03M107.25M100.52M90.17M71.29M60.02M45.57M37.55M31.00M26.16M
Dividends Per Sharen/a$3.08$3.00$2.92$2.81$2.41n/an/an/an/an/a
Weighted Average Diluted Sharesn/a111.20M101.88M95.44M79.16M67.14M52.40M41.22M32.40M27.70M22.96M
EPS (Basic)n/a$1.77$1.79$1.70$1.84$1.79$1.76$1.96$1.80$2.09$1.97

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