Agree Realty Corp
Research Agree Realty Corp (ADC) on Bullrun: valuation model: 5.7% overvalued, market cap USD 9.24B, P/E 40.0, dividend yield 4.0%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerADC
- ExchangeNYSE
- CountryUnited States
- SectorReal Estate
- IndustryREIT-Retail
- CurrencyUSD
- Valuation signal5.7% overvalued
- Market capUSD 9.24B
- P/E40.0
- Dividend yield4.0%
- Financial periodQ2 2026
- RevenueUSD 205.10M
- Net incomeUSD 54.65M
- Free cash flowUSD 130.97M
- Gross margin87.6%
Valuation Snapshot
Bullrun's latest valuation model marks Agree Realty Corp as 5.7% overvalued; latest market cap is USD 9.24B; P/E is 40.0; dividend yield is 4.0%.
Peer valuation comparison
Latest P/E is 40.03x versus a Real Estate sector median of 14.84x (169.8% above).
Latest dividend yield is 3.96% versus a Real Estate sector median of 4.71% (15.8% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 718.40M | USD 204.35M | USD 504.14M | 87.7% | 1.77 | USD 16.30M | USD 3.35B | USD 6.27B |
| FY2024 | USD 617.10M | USD 189.20M | -USD 442.53M | 87.9% | 1.78 | USD 6.40M | USD 2.83B | USD 5.51B |
| FY2023 | USD 537.50M | USD 169.96M | -USD 808.40M | 87.6% | 1.7 | USD 10.91M | USD 2.45B | USD 5.20B |
| FY2022 | USD 429.81M | USD 152.44M | -USD 1.24B | n/a | 1.83 | USD 27.76M | USD 1.94B | USD 4.63B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 9.24B | 40.0 | 4.2% | 3.16 |
| 2025 | 2025-12-31 | USD 8.65B | 40.7 | 4.3% | 3.09 |
| 2024 | 2024-12-31 | USD 7.56B | 39.6 | 4.3% | 3 |
| 2023 | 2023-12-29 | USD 6.33B | 37.0 | 4.6% | 2.91 |
| 2022 | 2022-12-30 | USD 6.28B | 38.5 | 3.9% | 2.79 |
| 2021 | 2021-12-31 | USD 5.09B | 40.1 | 3.7% | 2.64 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 3.16 USD, yield 4.0%.
| Year | Dividends/share |
|---|---|
| FY2025 | 3.08 USD |
| FY2024 | 3 USD |
| FY2023 | 2.92 USD |
| FY2022 | 2.81 USD |
About Agree Realty Corp
Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of June 30, 2026, the Company owned and operated a portfolio of 2,825 properties, located in all 50 states and containing approximately 59.6 million square feet of gross leasable area. Agree Realty Corporation was incorporated in 1971 and is based in Royal Oak, United States.
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Frequently asked questions
Is Agree Realty Corp overvalued or undervalued?
Bullrun's valuation model currently marks Agree Realty Corp as 5.7% overvalued.
What is Agree Realty Corp's market cap?
Agree Realty Corp's market capitalization is USD 9.24B.
What is Agree Realty Corp's P/E ratio?
Agree Realty Corp's price-to-earnings (P/E) ratio is 40.0.
Does Agree Realty Corp pay a dividend?
Agree Realty Corp has a dividend yield of 4.0%.
What does Agree Realty Corp do?
Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of June 30, 2026, the Company owned and operated a portfolio of 2,825 properties, located in all 50 states and containing approximately 59.6 million square feet of gross leasable area. Agree Realty Corporation was incorporated in 1971 and is based in Royal Oak, United States.