Agree Realty Corporation logo ADC - Agree Realty Corporation

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 22
HOLD 9
SELL 0
STRONG
SELL
0
| PRICE TARGET: $83.94 DETAILS
HIGH: $91.00
LOW: $80.00
MEDIAN: $83.50
CONSENSUS: $83.94
UPSIDE: 11.06%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Revenue
Revenue 718.4 617.1 537.5 429.8 339.3 248.6 187.5 137.1 111.5 91.5 70.0 53.6 43.5 34.6 30.3 27.4 34.4 35.7 34.5 32.9 31.6 28.9 26.2 23.1 22.2 22.6 21.9 19.8 18.4 16.3 13.8 9.5
Cost of Revenue 88.1 74.8 66.7 52.3 41.1 31.8 23.5 17.0 12.5 8.6 6.4 4.9 3.7 3.3 3.5 3.1 3.9 2.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 630.3 542.2 470.8 377.5 298.3 216.8 164.0 120.1 99.0 82.9 63.6 48.6 39.9 31.3 26.8 24.3 30.5 33.1 34.5 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 44.1 37.2 34.8 30.1 25.5 20.8 15.6 12.2 9.9 8.0 7.0 6.6 6.0 5.7 5.7 5.0 5.4 4.4 4.5 4.0 4.2 2.8 2.3 2.0 1.8 1.6 1.4 1.2 1.1 1.1 1 0.7
Other Expenses 245.8 202.8 181.6 129.3 82.5 62.9 34.0 35.3 26.7 23.3 16.4 14.0 8.5 0 5.8 10.5 5.4 7.3 6.9 9.1 9.2 8.5 9.0 5.4 5.3 6.3 6.9 6.2 5.7 5.1 12.8 8.8
Operating Expenses 289.9 240.0 216.4 159.4 108.0 83.7 49.6 47.1 36.1 31.3 23.5 20.8 14.4 11.9 11.5 15.5 9.9 11.6 13.8 13.1 13.4 11.3 11.2 7.4 7.1 7.8 8.3 7.4 6.8 6.2 13.8 9.5
Operating Income
Operating Income 340.4 302.2 254.4 218.1 190.3 133.1 114.4 73.0 63.0 51.7 40.1 27.9 25.4 19.4 15.3 8.8 20.6 21.5 20.7 19.8 18.2 17.6 15.0 15.6 15.1 14.7 13.6 12.4 11.6 10.1 18.4 13
Interest Expense 134.6 108.9 81.1 63.4 50.4 40.1 33.1 24.9 18.1 15.3 12.3 8.6 6.5 5.1 4.7 4.7 4.6 5.2 4.9 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.8 1.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 617.1 543.3 463.9 386.2 295.7 215.8 161.9 119.0 94.7 75.1 56.6 42.0 34.2 26.9 23.1 21.2 26.6 27.0 25.9 24.8 23.2 21.9 19.8 31.6 30.3 21.6 32.7 29.4 27.2 13.1 21 15
EBIT 341.3 303.0 254.6 219.3 175.7 133.2 102.7 75.3 63.0 51.7 40.1 30.9 25.4 19.4 15.9 15.0 20.6 21.5 20.7 19.8 18.2 17.6 15.0 27.3 26.0 17.5 28.9 25.9 24 10.1 18.4 13
Income Before Tax 206.7 194.1 173.5 155.9 125.3 93.1 81.3 59.3 59.0 46.0 39.8 18.8 18.9 14.2 13.7 5.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Income Tax Expense 1.7 4.3 2.9 2.9 2.4 1.1 0.5 0.5 0 0 0 8.9 (0.7) (3.1) 9.7 6.5 (9.8) (13.2) 5.2 5.8 6.6 5.0 7.1 6.9 6.8 7.6 6.8 6.3 6.3 6.3 15.2 12.7
Net Income 204.3 189.2 170.0 152.4 122.3 91.4 80.1 58.2 58.1 45.1 39.0 18.5 19.7 18.0 9.6 15.1 18.0 15.0 15.5 14.0 16.0 13.1 10.5 8.8 8.1 7.1 6.8 6.1 5.2 3.7 3.2 0.3
Per Share Data
EPS (Basic) 1.77 1.79 1.70 1.84 1.79 1.76 1.96 1.81 2.09 1.97 2.17 1.24 1.51 1.63 0.99 1.54 2.20 1.91 2.02 1.84 2.15 2.03 1.63 1.99 1.81 1.61 1.56 1.40 1.41 1.41 1.23 0.08
EPS (Diluted) 1.77 1.78 1.70 1.83 1.78 1.74 1.93 1.80 2.08 1.97 2.16 1.24 1.50 1.62 0.99 1.54 2.14 1.91 2.01 1.83 2.14 2.03 1.63 1.97 1.81 1.61 1.56 1.40 1.41 1.41 1.23 0.08
Shares Outstanding 110.7 101.1 95.2 78.7 66.8 51.8 40.6 32.1 27.6 22.9 18.0 14.9 13.1 11.1 9.6 9.8 7.9 7.7 7.7 7.6 7.5 6.5 4.9 4.4 4.4 4.4 4.4 4.4 3.7 2.6 2.6 3.2
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Current Assets
Cash & Cash Equivalents 16.3 6.4 10.9 27.8 43.3 6.1 15.6 54.0 50.8 33.4 0.7 0.7 0.6 1.0 1.1 1.1 1.1 1.1 1.0 1.8 0.3 0 0
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.3
Net Receivables 122.5 106.4 83.0 65.8 53.4 37.8 26.8 21.5 15.5 11.5 2.0 1.0 0.6 0 0.8 0.7 0.7 0.6 0.6 0.5 0.6 0 0
Inventory 0 0 0 0 0 0 3.8 0 2.4 (1.4) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 4.3 0 7.3 1.1 7.7 3.0 26.6 0.0 10.4 0 0 0 (1.2) 0 0 0 0 0 0 0 0 0 0
Total Current Assets 143.1 112.8 101.1 94.8 104.4 47.0 72.7 75.5 76.7 44.9 2.7 1.6 0 0 1.9 1.8 1.9 1.6 1.6 2.3 0.9 0 0.3
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 1,661.3 1,214.0 950.3 256.4 252.8 211.6 182.7 173.5 162.9 161.1 153.5 143.9 122.7 115.1 103.6 84.3
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 1,001.0 864.9 854.1 799.4 672.0 473.6 343.5 280.2 195.2 109.8 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 (1,661.3) (1,214.0) (950.3) 0 0 0 0.3 0.3 0.3 0.3 0.4 1.1 1.8 1.8 0 0
Other Non-Current Assets 8,653.5 7,508.7 6,819.6 5,819.0 4,450.5 3,365.6 2,248.3 1,672.0 1,222.3 956.5 (702.3) (702.6) (211.6) (183.1) (173.8) (163.1) (161.4) (154.0) (145.0) (124.5) (117.0) (103.6) (84.3)
Total Non-Current Assets 9,654.5 8,373.6 7,673.7 6,618.4 5,122.5 3,839.2 2,591.8 1,952.7 1,418.0 1,067.0 259.1 255.3 211.6 183.1 173.8 163.1 161.4 154.0 145.0 124.5 117.0 0 84.3
Total Assets 9,797.6 8,486.4 7,774.8 6,713.2 5,226.9 3,886.2 2,664.5 2,028.2 1,494.6 1,111.9 261.8 262.2 215.7 191.7 178.2 167.5 166.1 158.2 149.6 130.5 121.4 108.9 89.7
Current Liabilities
Account Payables 139.4 116.3 101.4 83.7 70.0 71.4 49.0 21.0 11.2 5.5 1.9 1.3 1.8 2.0 1.8 1.8 2.1 2.2 2.2 2.1 1.3 0 0
Short-Term Debt 0 0 0 0 160 92 89 19 14 14 29 0 0 0 0 0 0 0 41.3 51.0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 4.6 1.8 1.8 10.0 10,724.9 (307.9) 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 0 0 0 (160) (92) (89) (19) 2.3 (0.2) 0 32.9 (5.6) (5.6) 5.8 5.8 5.7 6.0 (45.8) (55.4) 5.9 0 0
Total Current Liabilities 171.5 144.1 126.9 106.1 86.9 105.9 74.0 35.7 30.9 20.9 45.5 6.8 25.1 11.5 10.2 10.2 10.5 10.8 10.9 10.3 9 0 0
Non-Current Liabilities
Long-Term Debt 3,294.7 2,785.4 2,410.9 1,940.0 1,687.6 1,218.3 872.3 720.4 491.2 400.9 75.6 0 93.0 84.0 115.3 105.7 87.5 95.4 77.6 65.2 77.3 73.6 54.3
Deferred Tax Liabilities 0 0 0 0 0 0 0 0.5 0.5 0.7 0.7 0.7 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 0 0 0 0 35.7 26.7 (385.4) 59.0 (28.0) 0.1 57.0 (106.5) (84.0) (115.3) (105.7) (87.5) (95.4) (77.6) (65.2) (77.3) (73.6) (54.3)
Total Non-Current Liabilities 3,354.9 2,831.7 2,447.7 1,976.7 1,720.7 1,254.0 899.0 754.0 552.6 405.5 76.4 112.1 93 84 115.3 105.7 104.1 95.4 85.3 65.2 87.9 73.6 54.3
Total Liabilities 3,526.5 2,975.8 2,574.7 2,082.8 1,807.6 1,359.9 973.0 789.7 583.4 426.4 122.0 124.3 112.2 89.7 119.8 110.2 108.9 100.3 90.2 69.9 91.1 77.5 56.4
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0
Retained Earnings (618.7) (470.6) (346.5) (228.1) (147.4) (91.3) (57.1) (42.9) (28.8) (28.6) (10.6) (11.3) (10.7) (11.2) (11.1) (11.7) (11.7) (10.7) (9.4) (7.5) (5.6) (4.6) (3.1)
Accumulated Other Comprehensive Income 35.5 40.1 16.6 23.6 (5.5) (36.3) (6.5) 1.4 1.4 (0.5) (0.1) (58.5) (41.7) (38.5) (37.5) (33.6) (29.9) (26.3) (23.0) (20.0) (17.3) 0 0
Total Stockholders' Equity 6,271.0 5,510.0 5,199.2 4,629.0 3,417.7 2,524.5 1,689.3 1,236.1 908.7 683.0 136.8 132.6 97.6 96.2 52.6 51.6 51.4 52.0 53.4 55.0 24.4 25.3 26.8
Total Liabilities & Equity 9,797.6 8,486.4 7,774.8 6,713.2 5,226.9 3,886.2 2,664.5 2,028.2 1,494.6 1,111.9 261.8 262.2 215.7 191.7 178.2 167.5 166.1 158.2 149.6 130.5 121.4 108.9 89.7
Debt Metrics
Total Debt 3,354.9 2,831.7 2,447.7 1,976.7 1,880.7 1,310.3 961.3 720.4 519.6 400.9 104.6 32.9 93.0 84.0 115.3 105.7 87.5 80.1 76.5 59.6 77.3 73.6 54.3
Net Debt 3,338.6 2,825.3 2,436.8 1,949.0 1,837.5 1,304.2 945.7 666.5 468.8 367.5 103.9 32.3 92.4 83.0 114.2 104.6 86.4 79.0 75.5 57.8 77.0 73.6 54.3
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Operating Activities
Net Income 205.0 189.8 170.5 153.0 122.9 92.0 80.8 58.8 58.8 45.8 16.0 13.1 10.5 8.8 8.1 7.1 6.8 6.1 5.2 3.7 3.2 2.4
Depreciation & Amortization 275.7 240.2 209.4 166.9 120.0 82.6 59.2 43.7 31.8 23.4 0.2 4.6 4.8 4.2 4.2 4.1 3.8 3.5 3.2 3.0 2.6 2
Stock-Based Compensation 13.0 10.8 8.3 6.5 5.5 5.0 4.1 2.9 2.4 2.3 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital 0.3 (2.6) 5.4 20.7 (8.7) (11.3) (7.6) (4.4) 2.5 (0.8) (0.8) (0.5) 0.3 (0.5) 0.5 (0.2) 0.4 0.2 0.1 0.2 0.2 (2.6)
Other Non-Cash Items 10.1 (6.2) (2.1) 15.0 3.6 1.4 1.3 1.1 (13.0) 0.7 4.2 1.1 0.0 1.2 0.3 0.6 1.0 1.3 0.7 0.8 0.6 (0.9)
Operating Cash Flow 504.1 432.0 391.6 362.1 246.3 143.0 126.7 93.2 82.2 61.7 19.6 18.3 15.7 13.7 13.0 11.6 12.1 11.2 9.2 7.7 6.6 0.9
Investing Activities
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 (15.1) (21.7) (20.1) (13.9) (4.8) (10.1) (11.6) (13.7) (8.7) (13.6) (19.9) 0
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0.2 0.4 0.7 0.7 0.7 0 0 0 0 0 0
Purchases of Investments 0 0 0 (1,660.4) (1,442.1) (1,346.3) (732.6) 0 0 0 0 0 0 0 0 0 0 0 0 (1.8) 0 (0.3)
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.3 0
Other Investing Activities (1,543.1) (885.4) (1,275.0) 44.4 55.5 46.5 65.1 (568.1) (319.1) (297.6) 9.6 6.4 3.9 0 0.3 0 0.7 0.7 0.2 0.1 0 0
Investing Cash Flow (1,543.1) (885.4) (1,275.0) (1,616.0) (1,386.6) (1,299.8) (667.5) (568.1) (319.1) (297.6) (5.5) (15.1) (15.8) (13.2) (3.9) (9.4) (10.9) (13.0) (8.5) (15.2) (19.6) (0.3)
Financing Activities
Net Debt Issuance 508.7 368.7 471.5 213.0 467.8 349.1 152.1 201.7 96.8 84.5 (23.9) 10.5 (11.6) 9.2 0.6 8.2 9.7 10.4 (22.7) 26.2 19.3 (41)
Stock Repurchased (3.7) (2.3) (2.7) (1.9) (1.8) (1.6) (1.4) (1.1) (1.1) (0.7) (0.1) (0.2) 0 0 0 (0.1) 0 0 0 0 0 0
Dividends Paid (348.1) (311.0) (285.1) (227.7) (195.8) (116.1) (90.3) (67.6) (55.1) (42.1) (15.8) (13.9) (10.8) (9.4) (9.4) (9.3) (9.3) (9.2) (7.5) (5.9) (5.9) (2.6)
Other Financing Activities (7.9) (13.0) (4.6) (3.7) (7.7) (4.7) (4.1) (2.6) (1.0) (3.2) (0.7) (0.6) (20.8) (0.2) (0.5) (1.0) (1.5) (0.1) (0.9) (13.8) (0.8) (0.9)
Financing Cash Flow 1,053.2 445.3 869.0 1,237.5 1,177.6 1,122.7 529.0 470.1 262.3 266.5 (9.0) (3.6) 0.0 (0.4) (9.2) (2.2) (1.1) 1.1 0.8 6.5 12.6 1.1
Cash Position
Net Change in Cash 14.2 (8.1) (14.4) (16.3) 37.3 (34.2) (11.8) (4.8) 25.4 30.7 5.1 (0.4) (0.1) (0.0) (0.0) 0.1 0.1 (0.8) 1.5 (1.0) (0.4) 1.1
Cash at Beginning 6.4 14.5 28.9 45.2 8.0 42.2 54.0 58.8 33.4 2.7 0.6 1.0 1.1 1.1 1.1 1.1 1.0 1.8 0.3 1.3 1.7 0.6
Cash at End 20.6 6.4 14.5 28.9 45.2 8.0 42.2 54.0 58.8 33.4 5.7 0.6 1.0 1.1 1.1 1.1 1.1 1.0 1.8 0.3 1.3 1.7
Free Cash Flow 504.1 432.0 391.6 362.1 246.3 143.0 126.7 93.2 82.2 61.7 4.5 (3.4) (4.5) (0.2) 8.2 1.5 0.4 (2.5) 0.6 (5.9) (13.3) 0.9
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Income Statement
Revenue 718.4 617.1 537.5 429.8 339.3 248.6 187.5 137.1 111.5 91.5 70.0 53.6 43.5 34.6 30.3 27.4 34.4 35.7 34.5 32.9 31.6 28.9 26.2 23.1 22.2 22.6 21.9 19.8 18.4 16.3 13.8 9.5
Gross Profit 630.3 542.2 470.8 377.5 298.3 216.8 164.0 120.1 99.0 82.9 63.6 48.6 39.9 31.3 26.8 24.3 30.5 33.1 34.5 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Income 340.4 302.2 254.4 218.1 190.3 133.1 114.4 73.0 63.0 51.7 40.1 27.9 25.4 19.4 15.3 8.8 20.6 21.5 20.7 19.8 18.2 17.6 15.0 15.6 15.1 14.7 13.6 12.4 11.6 10.1 18.4 13
Net Income 204.3 189.2 170.0 152.4 122.3 91.4 80.1 58.2 58.1 45.1 39.0 18.5 19.7 18.0 9.6 15.1 18.0 15.0 15.5 14.0 16.0 13.1 10.5 8.8 8.1 7.1 6.8 6.1 5.2 3.7 3.2 0.3
EPS (Diluted) 1.77 1.78 1.70 1.83 1.78 1.74 1.93 1.80 2.08 1.97 2.16 1.24 1.50 1.62 0.99 1.54 2.14 1.91 2.01 1.83 2.14 2.03 1.63 1.97 1.81 1.61 1.56 1.40 1.41 1.41 1.23 0.08
Balance Sheet
Cash & Equivalents 16.3 6.4 10.9 27.8 43.3 6.1 15.6 54.0 50.8 33.4 0.7 0.7 0.6 1.0 1.1 1.1 1.1 1.1 1.0 1.8 0.3 0 0
Total Assets 9,797.6 8,486.4 7,774.8 6,713.2 5,226.9 3,886.2 2,664.5 2,028.2 1,494.6 1,111.9 261.8 262.2 215.7 191.7 178.2 167.5 166.1 158.2 149.6 130.5 121.4 108.9 89.7
Total Debt 3,354.9 2,831.7 2,447.7 1,976.7 1,880.7 1,310.3 961.3 720.4 519.6 400.9 104.6 32.9 93.0 84.0 115.3 105.7 87.5 80.1 76.5 59.6 77.3 73.6 54.3
Stockholders' Equity 6,271.0 5,510.0 5,199.2 4,629.0 3,417.7 2,524.5 1,689.3 1,236.1 908.7 683.0 136.8 132.6 97.6 96.2 52.6 51.6 51.4 52.0 53.4 55.0 24.4 25.3 26.8
Cash Flow
Operating Cash Flow 504.1 432.0 391.6 362.1 246.3 143.0 126.7 93.2 82.2 61.7 19.6 18.3 15.7 13.7 13.0 11.6 12.1 11.2 9.2 7.7 6.6 0.9
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 (15.1) (21.7) (20.1) (13.9) (4.8) (10.1) (11.6) (13.7) (8.7) (13.6) (19.9) 0
Free Cash Flow 504.1 432.0 391.6 362.1 246.3 143.0 126.7 93.2 82.2 61.7 4.5 (3.4) (4.5) (0.2) 8.2 1.5 0.4 (2.5) 0.6 (5.9) (13.3) 0.9