Agree Realty Income Statement
ADC / Real Estate|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
At a glance
Revenue
$718M
FY2025
Gross Profit
N/A
FY2025
Operating Income
$340M
FY2025
Net Income
$204M
FY2025
Agree Realty reported $718M in revenue and $204M in net income for FY2025. Revenue has grown at a 25.4% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score NaN (distress zone, below 1.23 threshold)
- Cash-backed earnings: Operating cash flow exceeds net income
- Profit margin: 28.4% of revenue retained as profit
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $718.4M | $617.1M | $537.5M | $429.8M | $339.3M | $248.6M | $187.5M | $137.1M | $111.5M | $91.5M | $70.0M | $53.6M | $43.5M | $34.6M | $30.3M |
| SG&A Expense | $44.1M | $37.2M | $34.8M | $30.1M | $25.5M | $20.8M | $15.6M | $11.8M | $9.4M | $7.9M | $7.0M | $6.6M | $6.0M | $5.7M | $5.7M |
| Operating Income | $340.4M | $302.2M | $254.4M | $218.1M | $190.3M | $133.1M | $114.4M | $73.0M | $63.0M | $51.7M | $40.1M | $27.9M | $25.4M | $19.4M | $15.3M |
| Interest Expense | - | - | $81.1M | $63.4M | $50.4M | $40.1M | $33.1M | $24.9M | $18.1M | $15.3M | $12.3M | $8.6M | $6.5M | $5.1M | $4.0M |
| Income Tax | $1.7M | $4.3M | $2.9M | $2.9M | $2.4M | $1.1M | $538.0K | $516.0K | $227.0K | $153.0K | - | - | - | - | - |
| Net Income | $204.3M | $189.2M | $170.0M | $152.4M | $122.3M | $91.4M | $80.1M | $58.2M | $58.1M | $45.1M | $39.0M | $18.5M | $19.7M | $18.0M | $9.6M |
| EPS (Basic) | $1.70 | $1.84 | $1.79 | $1.76 | $1.96 | $1.80 | $2.09 | $1.97 | $2.17 | $1.24 | $1.51 | $1.63 | $0.99 | $1.65 | $2.15 |
| EPS (Diluted) | $1.70 | $1.83 | $1.78 | $1.74 | $1.93 | $1.78 | $2.08 | $1.97 | $2.16 | $1.24 | $1.50 | $1.62 | $0.99 | $1.64 | $2.14 |
| Shares Outstanding | 107.2M | 100.5M | 90.2M | 71.3M | 60.0M | 45.6M | 37.5M | 31.0M | 26.2M | 20.6M | 17.5M | 14.9M | 11.4M | 9.9M | 9.8M |
| Operating Margin | 47.4% | 49.0% | 47.3% | 50.7% | 56.1% | 53.6% | 61.0% | 53.2% | 56.5% | 56.4% | 57.3% | 52.1% | 58.4% | 56.0% | 50.7% |
| Profit Margin | 28.4% | 30.7% | 31.6% | 35.5% | 36.0% | 36.8% | 42.7% | 42.4% | 52.1% | 49.3% | 55.8% | 34.5% | 45.2% | 52.1% | 31.6% |