Stocks · Real Estate · REIT - Retail
Agree Realty Corporation ADC
$65.88 +1.31% Close, Oct 2, 2026 · NYSE · Market cap $7.91B
Strong growthHigh qualityLow risk
Next earnings report: Oct 20, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- The diluted share count rose 12.0% in a year.
- Net debt is 6.2× EBITDA, a high level of leverage.
- The shares trade at 35.4× trailing earnings, lower than 86% of the company's own readings over the past five years.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 24%
- EPS growth (TTM, YoY)Top 49%
- FCF growth (TTM, YoY)Top 33%
- Revenue growth, 3-year CAGRTop 15%
- Revenue growth accelerationBottom 48%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 9%
- Gross marginTop 25%
- Operating marginTop 19%
- Cash conversion (OCF / net income)Top 38%
- Accruals (lower is better)Bottom 44%
- Net debt / EBITDA (lower is better)Bottom 45%
- Interest coverTop 23%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 49%
- Free-cash-flow yieldTop 38%
- EBITDA / enterprise valueBottom 34%
- Sales / enterprise valueBottom 15%
- P/E vs own 5-year history (lower is better)Top 30%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 48%
- 6-month returnBottom 27%
- 1-year return vs S&P 500Bottom 48%
- Distance from 52-week highTop 47%
- Trend checklist (0–4)Bottom 22%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 46%
- Consecutive EPS beatsBottom 18%
- Share of analysts rating BuyTop 16%
- Upside to consensus price targetTop 46%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 9%
- Maximum drawdown, 3 yearsTop 10%
- Beta vs S&P 500 (lower is better)Top 3%
- Net debt / EBITDA (lower is better)Bottom 45%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 17.8% | 18.2% | ↑ |
| EPS growth (YoY) | 5.1% | 10.1% | ↑ |
| Gross margin | 87.7% | 69.9% | ↓ |
| Operating margin | 47.1% | 48.3% | ↑ |
| FCF margin | 70.7% | 68.5% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 18.2% | 17.8% | ↑ | Top 24% |
| EPS growth (TTM, YoY) | 10.1% | 5.1% | ↑ | Top 49% |
| Gross margin | 69.9% | 87.7% | ↓ | Top 25% |
| Operating margin | 48.3% | 47.1% | ↑ | Top 19% |
| Net margin | 28.9% | 28.2% | ↑ | — |
| Free-cash-flow margin | 68.5% | 70.7% | ↓ | — |
| Return on invested capital | 30.8% | — | Top 9% | |
| Revenue growth, 3-year CAGR | 18.7% | — | Top 15% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 2.37×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -2.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.8%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +3.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 6.21×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 4.61%
- Net buyback yield (TTM)
- -12.47%
- Shareholder yield
- -7.86%
- Share count change, 1 year
- +12.0%
- Share count change, 3-year CAGR
- +9.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 30, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 2 of 8
- Average EPS surprise, last 4
- -0.8%
- Average 2-day reaction, last 8
- -0.5%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $81.00
- Target vs current price
- +23.0%
- Analysts with a rating
- 32
- Share rating Buy or Strong Buy
- 72%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | -7.6% | -2.5% | -5.4% | -8.4% | — |
| Apr 21, 2026 | +4.4% | -0.9% | -4.5% | -4.8% | +1.5% |
| Feb 10, 2026 | -0.1% | +1.6% | +5.1% | +6.9% | +1.6% |
| Oct 21, 2025 | +0.1% | -1.0% | -1.1% | -2.6% | -4.9% |
| Jul 31, 2025 | -3.0% | -1.6% | +1.1% | -0.1% | +3.1% |
| Apr 22, 2025 | -0.6% | +0.5% | -2.9% | -3.8% | -8.7% |
| Feb 11, 2025 | -2.3% | -0.3% | -2.4% | +4.3% | +4.6% |
| Oct 22, 2024 | -3.2% | +0.2% | -0.7% | +2.4% | -3.4% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | $0.44 | $0.48 | -7.6% | $205.1M |
| Apr 21, 2026 | $0.50 | $0.48 | +4.4% | $200.8M |
| Feb 10, 2026 | $0.47 | $0.47 | -0.1% | $190.5M |
| Oct 21, 2025 | $0.45 | $0.45 | +0.1% | $183.2M |
| Jul 31, 2025 | $0.44 | $0.45 | -3.0% | $175.5M |
| Apr 22, 2025 | $0.42 | $0.42 | -0.6% | $169.2M |
| Feb 11, 2025 | $0.42 | $0.43 | -2.3% | $160.7M |
| Oct 22, 2024 | $0.42 | $0.43 | -3.2% | $154.3M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 35.4× | 40.5× | 14th | Bottom 49% |
| P/E (forward) | 34.7× | — | — | — |
| EV / EBITDA | 18.8× | — | — | Bottom 34% |
| EV / Sales | 15.16× | — | — | Bottom 15% |
| Free-cash-flow yield | 6.75% | — | — | Top 38% |
| Earnings yield | 2.82% | — | — | Bottom 49% |
P/E over the past five years
Range 31.9× – 45.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -8.1%
- Earnings per share growth (TTM)
- +10.1%
- Change in P/E multiple
- -0.6%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -5.0%
- 200-day average slope (20 days)
- -0.6%
- Distance from 50-day average
- -9.5%
- Distance from 200-day average
- -12.2%
- RSI (14)
- 25.2
- Relative volume
- 0.97×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 16.0%
- Volatility vs own 5-year history
- 25th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.03
- Correlation with S&P 500
- 0.02
- Current drawdown from 1-year high
- -19.6%
- Maximum drawdown, 3 years
- -20.6%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Aug 15, 2022 | Oct 2, 2023 | -33.0% | 284 days | 603 days (Feb 27, 2026) |
| Mar 3, 2026 | Oct 1, 2026 | -20.6% | 147 days | Not yet recovered |
| Jul 27, 2021 | Feb 10, 2022 | -17.3% | 138 days | 108 days (Jul 19, 2022) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $7.91B
- P/E (TTM)
- 35.4
- EPS, diluted (TTM)
- $1.86
- Revenue (TTM)
- $779.6M
- Dividend yield
- 4.82%
- 52-week range
- $64.98 – $82.08
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $339.3M | $429.8M | $537.5M | $617.1M | $718.4M |
| Gross profit | $298.3M | $377.5M | $470.8M | $542.2M | $630.3M |
| Operating income | $190.3M | $218.1M | $254.4M | $302.2M | $340.4M |
| Net income | $122.3M | $152.4M | $170.0M | $189.2M | $204.3M |
| EPS (diluted) | $1.78 | $1.83 | $1.70 | $1.78 | $1.77 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $154.3M | $160.7M | $169.2M | $175.5M | $183.2M | $190.5M | $200.8M | $205.1M |
| Net income | $44.4M | $45.2M | $47.0M | $49.2M | $52.1M | $56.0M | $62.2M | $54.7M |
| EPS (diluted) | $0.42 | $0.41 | $0.42 | $0.44 | $0.45 | $0.47 | $0.50 | $0.44 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $246.3M | $362.1M | $391.6M | $432.0M | $504.1M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Free cash flow | $246.3M | $362.1M | $391.6M | $432.0M | $504.1M |
| Dividends paid | -$194.3M | -$220.3M | -$277.7M | -$303.6M | -$340.7M |
| Net share buybacks | $743.0M | $1.26B | $687.2M | $400.7M | $900.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $12.5M
- Total assets
- $10.59B
- Total liabilities
- $4.07B
- Total debt
- $3.92B
- Net debt
- $3.90B
- Shareholders’ equity
- $6.52B
As of Jun 30, 2026 (filed Jul 30, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 30, 2026 | $0.27 | Oct 14, 2026 |
| Aug 31, 2026 | $0.27 | Sep 15, 2026 |
| Jul 31, 2026 | $0.27 | Aug 14, 2026 |
| Jun 30, 2026 | $0.27 | Jul 15, 2026 |
| May 29, 2026 | $0.27 | Jun 12, 2026 |
| Apr 30, 2026 | $0.27 | May 14, 2026 |
| Mar 31, 2026 | $0.26 | Apr 15, 2026 |
| Feb 27, 2026 | $0.26 | Mar 13, 2026 |
Short interest
- Shares sold short
- 6,771,227
- Days to cover
- 4.87
- Change vs previous report
- +9.1%
FINRA short interest, settlement date Sep 15, 2026.