Agree Realty Corporation
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $116.6M | $91.5M | $70.0M | $53.6M | $43.5M | $34.6M | $36.3M | $33.7M |
| Minimum Rents | $105.1M | $84.0M | $64.3M | $49.4M | $40.9M | $32.6M | $32.7M | $30.4M |
| Percentage Rents | $244.0K | $197.0K | $180.0K | $159.7K | $36.1K | $24.5K | $34.4K | $34.5K |
| Operating Cost Reimbursement | $10.8M | $7.3M | $5.3M | $3.8M | $2.6M | $2.0M | $2.6M | $2.6M |
| Development Fee Income | — | — | — | — | — | — | $894.7K | $589.5K |
| Other Income (Legacy) | $485.0K | $32.0K | $231.0K | $171.0K | $19.0K | $60.0K | $150.4K | $97.6K |
| Rental Income (Combined) | — | — | — | — | — | — | — | — |
| Other Revenue (Combined) | — | — | — | — | — | — | — | — |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $9.4M | $7.9M | $7.0M | $6.6M | $6.0M | $5.7M | $5.7M | $5.0M |
| Operating Income | $63.0M | $51.7M | $40.1M | $27.9M | $25.4M | $19.4M | $15.3M | $8.8M |
| Operating Margin | 54.0% | 56.4% | 57.3% | 52.1% | 58.4% | 56.0% | 42.2% | 26.1% |
| Interest Expense | $18.1M | $15.3M | $12.3M | $8.6M | $6.5M | $5.1M | $4.0M | $3.5M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | $227.0K | $153.0K | — | — | — | — | — | — |
| Net Income | $58.1M | $45.1M | $39.0M | $18.5M | $19.7M | $18.0M | $9.6M | $15.1M |
| Net Margin | 49.9% | 49.3% | 55.8% | 34.5% | 45.2% | 52.1% | 26.3% | 44.7% |
| EPS (Basic) | $2.09 | $1.97 | $2.17 | $1.24 | $1.51 | $1.63 | $0.99 | $1.65 |
| EPS (Diluted) | $2.08 | $1.97 | $2.16 | $1.24 | $1.50 | $1.62 | $0.99 | $1.64 |
| Shares Outstanding (Basic) | 27.6M | 22.9M | 18.0M | 14.9M | 13.1M | 11.1M | 9.6M | 9.2M |
| Shares Outstanding (Diluted) | 27.7M | 23.0M | 18.1M | 15.0M | 13.2M | 11.1M | 9.7M | 9.2M |
| Dividends Per Share | — | — | — | — | $1.64 | $1.60 | $1.60 | $2.04 |