Agree Realty Financial Statements
NYSE: ADCReal EstateReal Estate Investment TrustsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Agree Realty revenue and earnings
In fiscal 2025, Agree Realty generated $718.4 million in revenue, up 16.4% from fiscal 2024, its 15th consecutive year of revenue growth. Net income was $204.3 million (+8.0% year over year), for a net margin of 28.4% versus a median of 35.5% in the prior 5 years. Operating margin was 47.4%.
Diluted earnings per share came in at $1.77, down from $1.78. Over the last 5 fiscal years, ADC's revenue has grown at a 23.6% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Agree Realty income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 718.40M | 617.10M | 537.50M | 429.81M | 339.32M | 248.57M | 187.48M | 137.12M | 111.52M | 91.53M |
| Revenue growth (YoY) | +16.42% | +14.81% | +25.05% | +26.67% | +36.51% | +32.59% | +36.72% | +22.96% | +21.84% | +30.82% |
| Operating Income | 340.39M | 302.24M | 254.39M | 218.09M | 190.27M | 133.13M | 114.39M | 73.01M | 62.96M | 51.66M |
| Interest Expense | 134.61M | 108.90M | 81.12M | 63.44M | 50.38M | 40.10M | 33.09M | 24.87M | 18.14M | 15.34M |
| Other Income (Expense) | 941.00K | 799.00K | 189.00K | 1.25M | 0 | 23.00K | 0 | 0 | 347.00K | 0 |
| Income Tax | 1.74M | 4.31M | 2.91M | 2.86M | 2.40M | 1.09M | 538.00K | 516.00K | 227.00K | 153.00K |
| Net Income | 204.35M | 189.20M | 169.96M | 152.44M | 122.27M | 91.38M | 80.08M | 58.17M | 58.11M | 45.12M |
| Net Income growth (YoY) | +8.01% | +11.32% | +11.49% | +24.67% | +33.81% | +14.11% | +37.66% | +0.10% | +28.80% | +15.63% |
| EPS (Basic) | 1.77 | 1.79 | 1.70 | 1.84 | 1.79 | 1.76 | 1.96 | 1.80 | 2.09 | 1.97 |
| EPS (Diluted) | 1.77 | 1.78 | 1.70 | 1.83 | 1.78 | 1.74 | 1.93 | 1.78 | 2.08 | 1.97 |
| Shares Outstanding (Basic) | 110.72M | 101.10M | 95.19M | 78.66M | 66.80M | 51.84M | 40.58M | 32.07M | 27.63M | 22.87M |
| Shares Outstanding (Diluted) | 111.20M | 101.88M | 95.44M | 79.16M | 67.14M | 52.40M | 41.22M | 32.40M | 27.70M | 22.96M |
| EBITDA | 579.70M | 509.23M | 430.66M | 351.65M | 286.00M | 199.89M | 160.10M | 106.04M | 89.62M | 75.07M |
| Operating Margin | 47.38% | 48.98% | 47.33% | 50.74% | 56.07% | 53.56% | 61.02% | 53.24% | 56.46% | 56.44% |
| Net Margin | 28.45% | 30.66% | 31.62% | 35.47% | 36.03% | 36.76% | 42.71% | 42.42% | 52.11% | 49.29% |
This table shows 10 annual periods of Agree Realty's income statement, from FY 2025 back to FY 2016, across 13 line items including revenue, operating income, interest expense. Values in USD; B = billions, M = millions. Fiscal periods follow ADC's reporting calendar. What is a income statement?