← AGREE REALTY CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $45.1m |
$58.1m
+28.80%
|
$58.2m
+0.10%
|
$80.1m
+37.66%
|
$91.4m
+14.11%
|
$122.3m
+33.81%
|
$152.4m
+24.67%
|
$170.0m
+11.49%
|
$189.2m
+11.32%
|
$204.3m
+8.01%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | $57.8m |
$79.7m
+37.89%
|
$91.1m
+14.28%
|
$120.1m
+31.88%
|
$145.0m
+20.71%
|
$162.5m
+12.08%
|
$181.8m
+11.84%
|
$196.9m
+8.34%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $45.8m | $58.8m | $58.8m | $80.8m | $92.0m | $122.9m | $153.0m | $170.5m | $189.8m | $205.0m | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $679k | $678k | $626k | $682k | $591k | $603k | $598k | $588k | $635k | $640k | — | |
| Depreciation and amortization | $23.4m | $31.8m | $43.7m | $45.7m | $66.8m | $95.7m | $133.6m | $176.3m | $207.0m | $239.3m | $301.7m | |
| Amortization of Debt Issuance Costs and Discounts | $720k | $979k | $1.1m | $1.3m | $1.4m | $2.4m | $4.1m | $4.7m | $6.3m | $7.4m | — | |
| Amortization | $8.1m | $12.2m | $19.0m | — | — | — | — | — | — | — | $41.2m | |
| Amortization of Deferred Charges | $8.4m | $12.4m | $19.1m | $24.1m | $33.3m | $52.1m | $76.9m | $91.5m | $99.8m | $113.5m | — | |
| Depreciation | $15.3m | $19.6m | $24.7m | $45.7m | $66.8m | $95.7m | $133.6m | $176.3m | $207.0m | $239.3m | $260.4m | |
| Amortization Cash Flow | — | — | — | — | — | — | $33.3m | $33.1m | $33.2m | $36.4m | — | |
| Amortization Of Intangibles | — | — | — | — | — | — | $33.3m | $33.1m | $33.2m | $36.4m | $41.2m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $166.9m | $209.4m | $240.2m | $275.7m | $301.7m | |
| Share-based Payment Arrangement, Noncash Expense | $2.3m | $2.4m | $2.9m | $4.0m | $4.7m | $4.8m | $6.5m | $8.3m | $10.8m | $13.0m | $13.9m | |
| Asset Impairment Charge | — | — | — | — | — | — | $1.0m | $7.2m | $7.2m | $11.9m | $11.9m | |
| Other Nonoperating Income (Expense) | — | — | $4k | — | $23k | $0 | $1.2m | $189k | $799k | $941k | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | $20.7m | $5.4m | ($2.6m) | $344k | ($228k) | |
| Increase (Decrease) in Accounts Receivable | $4.1m | $4.2m | $6.9m | $6.1m | $12.0m | $16.3m | ($799k) | $5.1m | $12.1m | ($1.2m) | ($4.6m) | |
| Change In Receivables | — | — | — | — | — | — | $799k | ($5.1m) | ($12.1m) | $1.2m | ($4.6m) | |
| Changes In Account Receivables | — | — | — | — | — | — | $799k | ($5.1m) | ($12.1m) | $1.2m | ($4.6m) | |
| Increase (Decrease) in Accounts Payable | $2.0m | $5.3m | ($1.3m) | $606k | $2.2m | $10.8m | $15.0m | $10.4m | $14.3m | $5.7m | $12.8m | |
| Increase (Decrease) in Other Operating Assets | $109k | ($444k) | $463k | $2.1m | $1.5m | $3.2m | ($4.9m) | ($121k) | $4.8m | $6.6m | — | |
| Change In Other Current Assets | — | — | — | — | — | — | $4.9m | $121k | ($4.8m) | ($6.6m) | ($1.4m) | |
| Net Cash Provided by (Used in) Operating Activities | $61.7m |
$82.2m
+33.15%
|
$93.2m
+13.44%
|
$126.7m
+35.88%
|
$143.0m
+12.82%
|
$246.3m
+72.30%
|
$362.1m
+47.02%
|
$391.6m
+8.14%
|
$432.0m
+10.31%
|
$504.1m
+16.71%
|
$534.0m
+5.92%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | — | — | $702.9m | $1.3b | $1.4b | $1.6b | $1.2b | $874.5m | — | — | |
| Net Other Investing Changes | — | — | — | — | — | — | $44.4m | $13.4m | $91.9m | $40.4m | $72.5m | |
| Net Cash Provided by (Used in) Investing Activities | ($297.6m) | ($327.1m) | ($568.1m) | ($667.5m) | ($1.3b) | ($1.4b) | ($1.6b) | ($1.3b) | ($885.4m) | ($1.5b) | ($1.7b) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | ($333k) | $0 | $0 | — | — | — | — | — | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | — | $1.3b | $1.6b | $1.5b | $29.4b | $65.9b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $1.3b | $1.6b | $1.5b | $29.4b | $65.9b | |
| Long Term Debt Payments | — | — | — | — | — | — | ($1.1b) | ($1.1b) | ($1.1b) | ($28.8b) | ($65.3b) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $213.0m | $471.5m | $368.7m | $508.7m | $598.9m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $213.0m | $471.5m | $368.7m | $508.7m | $598.9m | |
| Net Short Term Debt Issuance | — | — | — | — | — | $68.0m | ($60.0m) | $127.0m | — | — | ($260.0m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($1.1b) | ($1.1b) | ($1.1b) | ($28.8b) | ($65.3b) | |
| Short Term Debt Issuance | — | — | — | — | — | $594.0m | $1.0b | $1.2b | — | — | $920.0m | |
| Short Term Debt Payments | — | — | — | — | — | ($526.0m) | ($1.1b) | ($1.1b) | — | — | ($1.2b) | |
| Payments for Repurchase of Common Stock | $712k | $1.1m | $1.1m | $1.4m | $1.6m | $1.8m | $1.9m | $2.7m | $2.3m | $3.7m | — | |
| Payments of Ordinary Dividends, Common Stock | $42.1m | $55.1m | $67.6m | $90.3m | $116.1m | $194.3m | $220.3m | $277.7m | $303.6m | $340.7m | ($372.6m) | |
| Proceeds from Issuance of Common Stock | $228.0m | $222.7m | $339.7m | $472.7m | $896.1m | $744.8m | $1.3b | $689.9m | $402.9m | $904.3m | $993.0m | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($220.3m) | ($277.7m) | ($303.6m) | ($340.7m) | ($365.2m) | |
| Common Stock Issuance | — | — | — | — | — | — | $1.3b | $689.9m | $402.9m | $904.3m | $993.0m | |
| Common Stock Payments | — | — | — | — | — | — | ($1.9m) | ($2.7m) | ($2.3m) | ($3.7m) | ($6.2m) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $1.3b | $689.9m | $402.9m | $904.3m | $993.0m | |
| Net Common Stock Issuance | — | — | — | — | — | — | $1.3b | $687.2m | $400.7m | $900.6m | $986.8m | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($1.9m) | ($2.7m) | ($2.3m) | ($3.7m) | ($6.2m) | |
| Dividends Payable | $13.1m | $16.3m | $21.0m | $25.0m | $34.5m | $16.9m | $22.3m | $25.5m | $27.8m | $32.2m | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($227.7m) | ($285.1m) | ($311.0m) | ($348.1m) | ($372.6m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($7.4m) | ($7.4m) | ($7.4m) | ($7.4m) | ($7.4m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($3.7m) | ($4.6m) | ($13.0m) | ($7.9m) | ($4.5m) | |
| Net Cash Provided by (Used in) Financing Activities | $266.5m |
$262.3m
-1.58%
|
$470.1m
+79.22%
|
$529.0m
+12.54%
|
$1.1b
+112.23%
|
$1.2b
+4.89%
|
$1.2b
+5.09%
|
$869.0m
-29.78%
|
$445.3m
-48.76%
|
$1.1b
+136.51%
|
$1.2b
+14.76%
|
|
| Beginning Cash Position | — | — | — | — | — | — | $45.2m | $28.9m | $14.5m | $6.4m | $8.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $54.0m | $42.2m | $8.0m | $45.2m | $28.9m | $14.5m | $6.4m | $20.6m | $21.2m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Payments of Financing Costs | $2.5m | $309k | $1.8m | $3.4m | $3.9m | $6.7m | $2.7m | $3.5m | $11.9m | $6.9m | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $13.8m | $17.3m | $23.0m | $29.9m | $37.7m | $56.1m | $58.8m | $87.5m | $123.7m | $129.1m | — | |
| Income Taxes Paid, Net | $8k | $257k | $452k | $666k | $1.1m | $1.8m | $2.4m | $3.1m | $3.7m | $1.6m | — | |
| Additional Financial Items | ||||||||||||
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $0 | — | — | — | — | — | — | — | — | — | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | $0 | — | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Disposition of Assets | $10.0m | $14.2m | $11.2m | $13.3m | $8.0m | $14.9m | $5.3m | $1.8m | $11.5m | $5.4m | — | |
| Gains (Losses) on Sales of Investment Real Estate | $10.0m | $14.2m | $11.2m | $13.3m | $8.0m | $14.9m | $5.3m | $1.8m | $11.5m | $5.4m | — | |
| General and Administrative Expense | $8.0m | $9.9m | $12.2m | $15.6m | $20.8m | $25.5m | $30.1m | $34.8m | $37.2m | $44.1m | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $45.8m | — | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | — | — | $516k | $538k | $1.1m | $2.4m | $2.9m | $2.9m | $4.3m | $1.7m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $108.9m | $134.6m | — | |
| Operating Lease, Expense | — | — | — | $1.2m | $1.3m | $1.6m | $1.6m | $1.7m | $1.6m | $2.1m | — | |
| Operating Lease, Lease Income | — | — | — | $193.8m | $257.4m | $352.8m | $450.4m | $558.2m | $637.8m | $737.6m | — | |
| Real Estate Tax Expense | $5.5m | $8.2m | $10.7m | $15.5m | $21.4m | $25.5m | $32.1m | $40.1m | $46.9m | $52.2m | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | — | $187.3m | $248.3m | $339.1m | $429.6m | $537.4m | $616.8m | $718.2m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $1.2b | $869.0m | $445.3m | $1.1b | $1.2b | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($1.6b) | ($1.3b) | ($885.4m) | ($1.5b) | ($1.7b) | |
| Change In Account Payable | — | — | — | — | — | — | $15.0m | $10.4m | $14.3m | $5.7m | $12.8m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($16.3m) | ($14.4m) | ($8.1m) | $14.2m | — | |
| Change In Payable | — | — | — | — | — | — | $15.0m | $10.4m | $14.3m | $5.7m | $12.8m | |
| Changes In Cash | — | — | — | — | — | — | ($16.3m) | ($14.4m) | ($8.1m) | $14.2m | $12.3m | |
| End Cash Position | — | — | — | — | — | — | $28.9m | $14.5m | $6.4m | $20.6m | $21.2m | |
| Financing Cash Flow | — | — | — | — | — | — | $1.2b |
$869.0m
-29.78%
|
$445.3m
-48.76%
|
$1.1b
+136.51%
|
$1.2b
+14.76%
|
|
| Free Cash Flow | — | — | — | — | — | — | $362.1m | $391.6m | $432.0m | $504.1m | $534.0m | |
| Gain Loss On Investment Securities | — | — | — | — | — | $16.7m | $28.4m | — | $4.4m | $13.6m | $13.6m | |
| Investing Cash Flow | — | — | — | — | — | — | ($1.6b) | ($1.3b) | ($885.4m) | ($1.5b) | ($1.7b) | |
| Net Investment Properties Purchase And Sale | — | — | — | — | — | — | ($1.7b) | ($1.3b) | ($977.3m) | ($1.6b) | ($1.8b) | |
| Net Preferred Stock Issuance | — | — | — | — | — | $170.3m | $0 | $0 | — | — | — | |
| Operating Gains Losses | — | — | — | — | — | — | $23.1m | ($1.8m) | ($7.1m) | $8.2m | ($6.8m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($9.1m) | ($7.4m) | ($6.4m) | ($9.9m) | — | |
| Purchase Of Investment Properties | — | — | — | — | — | — | ($1.7b) | ($1.3b) | ($977.3m) | ($1.6b) | ($1.8b) | |
| Stock Based Compensation | — | — | — | — | — | — | $6.5m | $8.3m | $10.8m | $13.0m | $13.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.