# Agree Realty Corporation (ADC-PA)

> Source: Nexqual · https://nexqual.com/ADC-PA · data as of 2026-10-15 19:15 UTC · cite as "Nexqual, Agree Realty Corporation (ADC-PA), nexqual.com/ADC-PA" · informational, not investment advice.

**Price:** USD 15.94 (+0.57% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 15.94 · day 15.92–15.96 · 52w 15.34–18.12 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $780M, net income $225M (28.8% margin) (SEC filings).
- Total return with dividends: 1Y -6.8% vs S&P 500 +18.1%; 5Y -14.2% vs S&P 500 +85.1%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $339M | $430M | $537M | $617M | $718M | $780M |
| Operating income | $190M | $218M | $254M | $302M | $340M | $374M |
| Net income | $122M | $152M | $170M | $189M | $204M | $225M |
| EPS (diluted) | $1.78 | $1.83 | $1.70 | $1.78 | $1.77 | — |
| Free cash flow | -$1.14B | -$1.24B | -$808M | -$443M | — | — |
| Operating margin | 56.1% | 50.7% | 47.3% | 49.0% | 47.4% | 47.9% |
| Net margin | 36.0% | 35.5% | 31.6% | 30.7% | 28.4% | 28.8% |
| Revenue growth | +36.5% | +26.7% | +25.1% | +14.8% | +16.4% | — |
| Cash + short-term investments | $43.3M | $27.8M | $10.9M | $6.4M | $16.3M | — |
| Total debt | $1.69B | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 9.3x, Dec 2024 9.9x, Dec 2023 10.5x.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | -6.8% | -14.2% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | -6.9% | -3.0% |
| Volatility (annualized) | 9.3% | 17.0% |
| Max drawdown | -9.3% (Oct 2025→Sep 2026) | -33.4% (Nov 2021→Oct 2022) |

## Peers (REIT - Retail)
SPG (Simon Property Group, Inc.) USD 203.39 +1.37% · O (Realty Income Corporation) USD 55.55 +1.02% · KIM (Kimco Realty Corporation (HC)) USD 22.67 +0.98% · REG (Regency Centers Corporation) USD 73.04 +1.94% · FRT (Federal Realty Investment Trust) USD 105.68 -0.07% · BRX (Brixmor Property Group Inc.) USD 27.43 +0.55%

## More
Full page: https://nexqual.com/ADC-PA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt