Financials Agree Realty Corporation

Equities

ADC

US0084921008

Commercial REITs

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
57.77 USD -0.48% Intraday chart for Agree Realty Corporation +2.14% -8.23%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,962 3,675 5,431 6,269 6,315 5,800 - -
Enterprise Value (EV) 1 3,819 4,887 7,076 8,181 8,715 8,581 8,725 8,951
P/E ratio 36.4 x 38.3 x 40.1 x 38.8 x 37 x 30.6 x 31.7 x 31.7 x
Yield 3.25% 3.61% 3.65% 3.95% 4.64% 5.19% 5.47% 5.64%
Capitalization / Revenue 15.8 x 14.8 x 16 x 14.6 x 11.7 x 9.43 x 8.69 x 7.81 x
EV / Revenue 20.4 x 19.7 x 20.9 x 19 x 16.2 x 14 x 13.1 x 12.1 x
EV / EBITDA 25.9 x 25 x 26 x 23.6 x 20 x 16.2 x 14.9 x 13.6 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book - - - 1.38 x 1.22 x 1.17 x 1.18 x 1.19 x
Nbr of stocks (in thousands) 42,211 55,190 76,110 88,386 100,323 100,395 - -
Reference price 2 70.17 66.58 71.36 70.93 62.95 57.77 57.77 57.77
Announcement Date 2/20/20 2/18/21 2/22/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 187.5 248.6 339.3 429.8 537.5 614.8 667.3 742.5
EBITDA 1 147.7 195.4 272.2 346.8 436 530.7 585.6 659.1
EBIT 1 101.1 125.1 177.1 213.8 259.7 208.2 302.6 339.6
Operating Margin 53.92% 50.34% 52.19% 49.75% 48.32% 33.86% 45.35% 45.74%
Earnings before Tax (EBT) 1 - 91.97 - 155.9 173.5 197.9 215.2 245.1
Net income 1 80.08 91.38 120.1 145 162.5 186.7 214.3 239.6
Net margin 42.71% 36.76% 35.4% 33.74% 30.24% 30.37% 32.11% 32.27%
EPS 2 1.930 1.740 1.780 1.830 1.700 1.890 1.822 1.825
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.280 2.405 2.604 2.805 2.919 2.997 3.160 3.257
Announcement Date 2/20/20 2/18/21 2/22/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 91.41 98.34 104.9 110.1 116.5 126.6 129.9 136.8 144.2 149.5 151.2 154.6 158.2 163.6 167.3
EBITDA 1 73.44 78.05 84.14 89.43 95.19 101 105.2 111.8 117.5 121.3 127.5 130.3 132.6 137.5 140.4
EBIT 1 - 49.67 52.35 54.43 57.4 60.51 - 63.08 70.29 72.99 66.92 68.3 68.83 65.85 66.98
Operating Margin - 50.51% 49.91% 49.45% 49.25% 47.79% - 46.1% 48.76% 48.84% 44.26% 44.18% 43.51% 40.25% 40.03%
Earnings before Tax (EBT) 1 - - - - - - - 42.37 46.81 43.78 50.71 52.08 52.26 50.74 52.2
Net income 1 31.29 34.25 34.11 37.57 39.07 39.76 39.01 39.66 44.1 43 45 47 47 50.88 52.34
Net margin 34.23% 34.83% 32.53% 34.13% 33.52% 31.4% 30.03% 28.99% 30.59% 28.77% 29.77% 30.4% 29.71% 31.1% 31.28%
EPS 2 0.4400 0.4800 0.4500 0.4600 0.4400 0.4400 0.4200 0.4100 0.4400 0.4300 0.4525 0.4550 0.4525 0.4500 0.4500
Dividend per Share 2 0.6810 0.6810 0.7020 0.7020 0.7200 0.7200 0.7290 0.7290 0.7410 - 0.7500 0.7525 0.7600 0.7580 0.7720
Announcement Date 2/22/22 5/3/22 8/2/22 11/1/22 2/14/23 5/4/23 8/1/23 10/24/23 2/13/24 4/23/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 857 1,212 1,644 1,912 2,400 2,781 2,925 3,151
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.799 x 6.202 x 6.041 x 5.514 x 5.505 x 5.24 x 4.995 x 4.78 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) - - 4.04% 3.6% 3.31% 3.64% 3.81% 3.85%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 - - - 51.30 51.70 49.40 48.90 48.50
Cash Flow per Share 2 - - 3.670 4.570 - 4.080 4.320 -
Capex 1 - - - - - 91.5 101 -
Capex / Sales - - - - - 14.89% 15.09% -
Announcement Date 2/20/20 2/18/21 2/22/22 2/14/23 2/13/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
57.77 USD
Average target price
65.91 USD
Spread / Average Target
+14.08%
Consensus
  1. Stock Market
  2. Equities
  3. ADC Stock
  4. Financials Agree Realty Corporation