Agree Realty Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $718.4M | $617.1M | $537.5M | $429.8M | $339.3M | $248.6M | $187.5M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | $44.1M | $37.2M | $34.8M | $30.1M | $25.5M | $20.8M | $15.6M |
| Operating Income | — | $340.4M | $302.2M | $254.4M | $218.1M | $190.3M | $133.1M | $114.4M |
| Operating Margin | — | 47.4% | 49.0% | 47.3% | 50.7% | 56.1% | 53.6% | 61.0% |
| Interest Expense | — | — | — | $81.1M | $63.4M | $50.4M | $40.1M | $33.1M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | $1.7M | $4.3M | $2.9M | $2.9M | $2.4M | $1.1M | $538.0K |
| Net Income | — | $204.3M | $189.2M | $170.0M | $152.4M | $122.3M | $91.4M | $80.1M |
| Net Margin | — | 28.4% | 30.7% | 31.6% | 35.5% | 36.0% | 36.8% | 42.7% |
| EPS (Basic) | — | $1.77 | $1.79 | $1.70 | $1.84 | $1.79 | $1.76 | $1.96 |
| EPS (Diluted) | — | $1.77 | $1.78 | $1.70 | $1.83 | $1.78 | $1.74 | $1.93 |
| Shares Outstanding (Basic) | 120.0M | 110.7M | 101.1M | 95.2M | 78.7M | 66.8M | 51.8M | 40.6M |
| Shares Outstanding (Diluted) | 120.0M | 111.2M | 101.9M | 95.4M | 79.2M | 67.1M | 52.4M | 41.2M |
| Dividends Per Share | — | $3.08 | $3.00 | $2.92 | $2.81 | $2.41 | — | — |