FEDERAL AGRICULTURAL MORTGAGE CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $408.4M | $375.1M | $351.1M | $309.6M | $245.0M | $213.9M | $194.1M | $186.1M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $44.6M | $38.2M | $35.0M | $29.8M | $27.5M | $22.0M | $20.3M | $19.7M |
| Operating Income | $255.7M | $258.1M | $1.32B | $671.6M | $376.5M | $457.6M | $610.6M | $505.9M |
| Operating Margin | 62.6% | 68.8% | 375.4% | 216.9% | 153.7% | 214.0% | 314.6% | 271.9% |
| Interest Expense | — | — | $1.06B | $445.9M | $204.0M | $312.9M | $472.0M | $369.8M |
| Pretax Income | $255.7M | $258.1M | $253.1M | $225.7M | $172.5M | $144.7M | $138.7M | $136.0M |
| Income Tax Expense | $48.3M | $50.9M | $53.1M | $47.5M | $36.4M | $30.3M | $29.1M | $27.9M |
| Net Income | $207.4M | $207.2M | $200.0M | $178.1M | $136.1M | $114.4M | $109.5M | $108.1M |
| Net Margin | 50.8% | 55.2% | 57.0% | 57.5% | 55.5% | 53.5% | 56.4% | 58.1% |
| EPS (Basic) | $16.73 | $16.59 | $15.97 | $14.00 | $10.36 | $8.85 | $8.76 | $8.91 |
| EPS (Diluted) | $16.62 | $16.44 | $15.81 | $13.87 | $10.27 | $8.80 | $8.69 | $8.83 |
| Shares Outstanding (Basic) | 10.9M | 10.9M | 10.8M | 10.8M | 10.8M | 10.7M | 10.7M | 10.7M |
| Shares Outstanding (Diluted) | 11.0M | 11.0M | 10.9M | 10.9M | 10.8M | 10.8M | 10.8M | 10.7M |
| Dividends Per Share | $1.50 | $1.40 | $1.10 | $0.95 | $0.88 | $0.80 | $0.70 | $0.58 |