(ADC) Agree Realty - Overview
Sector: Real Estate | Industry: REIT - Retail | Exchange: NYSE (USA) | Market Cap: 9.116m USD | Total Return: 4% in 12m
Avg Turnover: 72.0M
EPS Trend: 70.9%
Qual. Beats: 0
Rev. Trend: 99.7%
Qual. Beats: 1
Warnings
Altman Z'' -0.16 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Agree Realty Corporation (ADC) is a Maryland-incorporated Real Estate Investment Trust (REIT) focused on the acquisition and development of retail properties across the United States. As of late 2025, the company managed a portfolio of 2,674 properties totaling approximately 55.5 million square feet of leasable area across all 50 states.
The company utilizes a triple-net lease business model, which shifts the responsibility for property taxes, insurance, and maintenance costs from the landlord to the tenant. This structure typically provides the REIT with more predictable cash flows and lower operational volatility compared to gross lease models. ADC specifically targets omni-channel retailers, focusing on tenants that integrate physical storefronts with robust e-commerce capabilities to mitigate risks associated with shifting consumer habits.
For a more granular look at the companys historical performance and valuation metrics, consider reviewing the data on ValueRay. The firms common stock remains listed on the New York Stock Exchange, continuing its operations as a specialist in the Retail REIT sub-industry.
- Investment grade tenant concentration mitigates rental income volatility during economic downturns
- Interest rate fluctuations impact cost of capital and acquisition cap rate spreads
- Strategic focus on omni-channel retailers drives long-term lease stability and occupancy
- Continued portfolio expansion through acquisitions fuels adjusted funds from operations growth
- Macroeconomic shifts in consumer spending affect underlying retail tenant credit profiles
| Net Income: 219.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -4.14 > 1.0 |
| NWC/Revenue: -4.20% < 20% (prev -6.32%; Δ 2.12% < -1%) |
| CFO/TA 0.05 > 3% & CFO 522.6m > Net Income 219.6m |
| Net Debt (6.68b) to EBITDA (613.3m): 10.89 < 3 |
| Current Ratio: 0.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (120.4m) vs 12m ago 11.93% < -2% |
| Gross Margin: 87.64% > 18% (prev 0.88%; Δ 8.68k% > 0.5%) |
| Asset Turnover: 7.90% > 50% (prev 7.24%; Δ 0.67% > 0%) |
| Interest Coverage Ratio: 2.40 > 6 (EBITDA TTM 613.3m / Interest Expense TTM 139.8m) |
| A: -0.00 (Total Current Assets 154.7m - Total Current Liabilities 186.2m) / Total Assets 10.2b |
| B: -0.06 (Retained Earnings -653.4m / Total Assets 10.2b) |
| C: 0.04 (EBIT TTM 335.2m / Avg Total Assets 9.49b) |
| D: -0.16 (Book Value of Equity -612.8m / Total Liabilities 3.95b) |
| Altman-Z'' = -0.16 = B |
| DSRI: 1.04 (Receivables 129.6m/105.5m, Revenue 750.0m/636.8m) |
| GMI: 1.00 (GM 87.64% / 87.95%) |
| AQI: 1.05 (AQ_t 0.11 / AQ_t-1 0.11) |
| SGI: 1.18 (Revenue 750.0m / 636.8m) |
| TATA: -0.03 (NI 219.6m - CFO 522.6m) / TA 10.2b) |
| Beneish M = -2.86 (Cap -4..+1) = A |
As of May 27, 2026, the stock is trading at USD 75.51 with a total of 645,843 shares traded.
Over the past week, the price has changed by -0.34%,
over one month by -0.27%,
over three months by -4.37% and
over the past year by +3.99%.
Agree Realty has received a consensus analysts rating of 4.29. Therefore, it is recommended to buy ADC.
- StrongBuy: 12
- Buy: 3
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 85 | 12.6% |
P/E Trailing = 40.9081
P/E Forward = 39.8406
P/S = 12.1535
P/B = 1.4989
P/EG = 0.1254
Revenue TTM = 750.0m USD
EBIT TTM = 335.2m USD
EBITDA TTM = 613.3m USD
Long Term Debt = 3.69b USD (from longTermDebt, last quarter)
Short Term Debt = 2.95b USD (from shortTermDebt, last fiscal year)
Debt = 6.70b USD (corrected: LT Debt 3.69b + ST Debt 2.95b) + Leases 61.8m
Net Debt = 6.68b USD (calculated: Debt 6.70b - CCE 25.1m)
Enterprise Value = 15.8b USD (9.12b + Debt 6.70b - CCE 25.1m)
Interest Coverage Ratio = 2.40 (Ebit TTM 335.2m / Interest Expense TTM 139.8m)
EV/FCF = 143.2x (Enterprise Value 15.8b / FCF TTM 110.3m)
FCF Yield = 0.70% (FCF TTM 110.3m / Enterprise Value 15.8b)
FCF Margin = 14.71% (FCF TTM 110.3m / Revenue TTM 750.0m)
Net Margin = 29.28% (Net Income TTM 219.6m / Revenue TTM 750.0m)
Gross Margin = 87.64% ((Revenue TTM 750.0m - Cost of Revenue TTM 92.7m) / Revenue TTM)
Gross Margin QoQ = 87.60% (prev 87.40%)
Tobins Q-Ratio = 1.55 (Enterprise Value 15.8b / Total Assets 10.2b)
Interest Expense / Debt = 2.09% (Interest Expense 139.8m / Debt 6.70b)
Taxrate = 0.51% (500k / 98.6m)
NOPAT = 333.5m (EBIT 335.2m * (1 - 0.51%))
Current Ratio = 0.83 (Total Current Assets 154.7m / Total Current Liabilities 186.2m)
Debt / Equity = 1.07 (Debt 6.70b / totalStockholderEquity, last quarter 6.24b)
Debt / EBITDA = 10.89 (Net Debt 6.68b / EBITDA 613.3m)
Debt / FCF = 60.53 (Net Debt 6.68b / FCF TTM 110.3m)
Total Stockholder Equity = 6.01b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.31% (Net Income 219.6m / Total Assets 10.2b)
RoE = 3.30% (Net Income TTM 219.6m / Total Stockholder Equity 6.66b)
RoCE = 3.24% (EBIT 335.2m / Capital Employed (Equity 6.66b + L.T.Debt 3.69b))
RoIC = 2.58% (NOPAT 333.5m / Invested Capital 12.9b)
WACC = 3.86% (E(9.12b)/V(15.8b) * Re(5.18%) + D(6.70b)/V(15.8b) * Rd(2.09%) * (1-Tc(0.01)))
Discount Rate = 5.18% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.39 | Cagr: 8.40%
[DCF] Terminal Value 73.10% ; FCFF base≈250.0m ; Y1≈219.2m ; Y5≈177.1m
[DCF] Fair Price = N/A (negative equity: EV 2.84b - Net Debt 6.68b = -3.83b; debt exceeds intrinsic value)
EPS Correlation: 70.90 | EPS CAGR: 3.30% | SUE: 0.46 | # QB: 0
Revenue Correlation: 99.67 | Revenue CAGR: 16.25% | SUE: 3.55 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.46 | Chg30d=-3.13% | Revisions=+0% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.47 | Chg30d=-3.60% | Revisions=-20% | Analysts=3
EPS current Year (2026-12-31): EPS=1.90 | Chg30d=-0.77% | Revisions=-20% | GrowthEPS=+4.1% | GrowthRev=+16.9%
EPS next Year (2027-12-31): EPS=1.96 | Chg30d=-2.12% | Revisions=-33% | GrowthEPS=+2.8% | GrowthRev=+12.7%
[Analyst] Revisions Ratio: -33%