AGREE REALTY CORPORATION
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2016 | — | 56.4% | 49.3% |
| FY2017 | — | 56.5% | 52.1% |
| FY2018 | — | 53.2% | 42.4% |
| FY2019 | — | 61.0% | 42.7% |
| FY2020 | — | 53.6% | 36.8% |
| FY2021 | — | 56.1% | 36.0% |
| FY2022 | — | 50.7% | 35.5% |
| FY2023 | — | 47.3% | 31.6% |
| FY2024 | — | 49.0% | 30.7% |
| FY2025 | — | 47.4% | 28.4% |