कंपनी का अवलोकन
Agree Realty Corporation operates as a publicly traded real estate investment trust focused on the acquisition and development of properties that are net leased to industry-leading, omni-channel retail tenants. The firm is actively rethinking the retail sector by building a portfolio designed to support the evolving needs of modern retail operations. This entity functions within the broader Real Estate sector and specifically within the REIT - Retail industry, a classification that denotes its obligation to distribute most of its taxable income to shareholders while owning income-generating real estate assets. As of December 31, 2025, the company owned and operated a portfolio comprising 2,674 properties, demonstrating significant operational scale. The total market capitalization stands at $9.39 billion, indicating a substantial valuation in the capital markets, while the trailing twelve-month revenue is recorded at $718.40 million. With an employee count of 90, the organization maintains a lean operational structure relative to its asset base and revenue generation. These financial metrics collectively suggest that the company holds a significant position within the retail real estate landscape, leveraging its extensive property portfolio to generate consistent cash flows for its shareholder base.
वित्तीय स्वास्थ्य
The company reported a trailing twelve-month revenue of $718.40 million, generating net income of $196.46 million and an EBITDA of $619.75 million. The substantial gap between the EBITDA figure and the net income reveals a cost structure where interest expenses, taxes, and depreciation significantly impact the bottom line, reducing the operating earnings to the final net profit. Free cash flow for the period was $433.69 million, which indicates strong financial flexibility allowing the firm to service its obligations or potentially fund future acquisitions without immediate external financing. The gross margin stands at 87.7%, reflecting the net lease model where operating expenses are largely borne by tenants, while the operating margin of 48.3% demonstrates efficient management of overhead costs. The profit margin is 28.4%, showing the final percentage of revenue retained as profit after all expenses. In terms of balance sheet leverage, total debt amounts to $3.32 billion against available cash of $22.27 million, resulting in a debt-to-equity ratio of 52.95%. This high leverage ratio indicates that the company relies heavily on debt financing to fund its property acquisitions, making it a leveraged entity sensitive to interest rate changes. The current ratio is 0.34, which suggests that short-term liquid assets are insufficient to cover short-term liabilities without relying on debt repayment or asset liquidation. Return on equity is 3.5% and return on assets is 2.4%, metrics that reveal limited effectiveness in generating high returns relative to the capital invested and the total asset base respectively.
मूल्यांकन आकलन
The trailing twelve-month P/E ratio is 44.05, whereas the forward P/E is 39.00. The difference between these two ratios implies that the market expects earnings to grow, as the forward multiple is lower than the trailing multiple, suggesting an anticipated improvement in profitability over the coming year. The price-to-book ratio is 1.53, which indicates that the market values the company at a 53% premium over its book value, reflecting investor confidence in the quality of its property assets and brand. The price-to-sales ratio stands at 13.07, while the EV/EBITDA multiple is 20.68. These alternative valuation metrics suggest that the company is priced at a significant premium relative to its sales and operating cash generation, typical for specialized REITs with strong tenant coverage. The 52-week high price is $82.08 and the 52-week low is $68.98. Without a specific current stock price provided in the available facts to calculate the exact percentage, the trading range is defined by these bounds, with the stock exhibiting a beta of 0.53. This beta value signifies that the stock's price volatility is lower than the broader market, moving at approximately half the intensity of the overall market index during periods of fluctuation.
Growth & Income
Revenue growth year over year is 18.5%, while earnings growth year over year is 14.0%. Earnings are growing at a slower pace than revenue, which implies that while top-line expansion is robust, the company is experiencing some pressure on profit margins or increased costs that prevent a one-to-one translation of revenue gains into net earnings. For dividend payers, the dividend yield is 4.0% with a payout ratio of 174.1%. This payout ratio indicates that the company is distributing more in dividends than its reported net income, relying on other sources of cash flow or prior retained earnings to fund the dividend, which may present sustainability challenges if earnings do not increase significantly. The company reinvests earnings into growth rather than paying dividends to the extent that the payout ratio exceeds 100%, prioritizing asset expansion and portfolio optimization over immediate shareholder cash distribution. The overall growth and income profile presents a high-yield opportunity with moderate top-line expansion, though the high payout ratio and slower earnings growth relative to revenue require careful monitoring of future profitability trends.