Complete financial analysis of Agree Realty Corporation (ADC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Agree Realty Corporation, a leading company in the REIT – Retail industry within the Real Estate sector.
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Agree Realty Corporation (ADC)
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol ADC.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 537.50M | 463.15M | 363.61M | 248.57M | 187.48M | 148.20M | 116.56M | 91.53M | 69.97M | 53.56M | 43.52M | 35.79M | 36.32M | 36.11M | 37.26M | 35.65M | 34.47M | 32.91M | 31.58M | 29.93M | 27.47M | 25.82M | 24.68M | 23.73M | 21.93M | 19.67M | 18.23M | 16.29M | 13.80M | 9.50M |
| Cost of Revenue | 239.67M | 85.62M | 65.34M | 31.75M | 23.51M | 17.01M | 12.47M | 8.60M | 6.38M | 4.92M | 3.66M | 3.58M | 4.91M | 3.85M | 2.43M | 64.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 297.83M | 377.53M | 298.26M | 216.82M | 163.97M | 131.18M | 104.09M | 82.93M | 63.59M | 48.64M | 39.86M | 32.21M | 31.41M | 32.26M | 34.83M | 35.59M | 34.47M | 32.91M | 31.58M | 29.93M | 27.47M | 25.82M | 24.68M | 23.73M | 21.93M | 19.67M | 18.23M | 16.29M | 13.80M | 9.50M |
| Gross Profit Ratio | 55.41% | 81.51% | 82.03% | 87.23% | 87.46% | 88.52% | 89.30% | 90.61% | 90.88% | 90.82% | 91.60% | 90.00% | 86.48% | 89.34% | 93.49% | 99.82% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.37 | 0.37 | 0.37 | 0.43 | 0.43 | 0.50 | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 34.79M | 30.12M | 25.46M | 20.79M | 15.57M | 12.17M | 9.95M | 8.02M | 6.99M | 6.63M | 5.95M | 5.68M | 5.66M | 5.00M | 4.56M | 6.94M | 4.46M | 4.02M | 4.19M | 2.85M | 2.28M | 2.01M | 1.81M | 1.56M | 1.42M | 1.17M | 1.11M | 1.10M | 1.00M | 700.00K |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 88.00 | -384.00 | 859.00K | -2.58M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 34.79M | 30.12M | 25.46M | 20.79M | 15.57M | 12.17M | 9.95M | 8.02M | 6.99M | 6.63M | 5.95M | 5.68M | 5.66M | 5.00M | 5.42M | 4.36M | 4.46M | 4.02M | 4.19M | 2.85M | 2.28M | 2.01M | 1.81M | 1.56M | 1.42M | 1.17M | 1.11M | 1.10M | 1.00M | 700.00K |
| Other Expenses | 0.00 | 133.57M | 95.73M | 66.76M | 45.70M | 4.00K | 347.00K | 23.41M | 16.49M | 11.10M | 8.49M | 6.47M | 6.50M | 5.69M | 7.65M | 7.25M | 9.33M | 9.07M | 9.19M | 8.96M | 7.58M | 8.19M | 7.99M | 7.46M | 6.95M | 6.12M | 5.57M | 5.11M | -5.60M | -4.20M |
| Operating Expenses | 216.39M | 163.69M | 121.19M | 87.55M | 61.27M | 55.86M | 41.70M | 31.42M | 23.47M | 17.73M | 14.44M | 12.15M | 12.16M | 10.69M | 14.63M | 19.37M | 13.79M | 13.09M | 13.38M | 11.81M | 9.86M | 10.20M | 9.79M | 9.02M | 8.37M | 7.29M | 6.67M | 6.21M | -4.60M | -3.50M |
| Cost & Expenses | 283.11M | 249.31M | 186.53M | 119.30M | 84.78M | 72.87M | 54.17M | 40.02M | 29.85M | 22.65M | 18.10M | 15.73M | 17.07M | 14.54M | 14.63M | 19.37M | 13.79M | 13.09M | 13.38M | 11.81M | 9.86M | 10.20M | 9.79M | 9.02M | 8.37M | 7.29M | 6.67M | 6.21M | -4.60M | -3.50M |
| Interest Income | 0.00 | 63.44M | 50.38M | 40.10M | 33.09M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 770.18K | 1.25M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 81.12M | 63.44M | 66.35M | 44.66M | 32.98M | 0.00 | 0.00 | 0.00 | 0.00 | 8.59M | 6.48M | 5.13M | 4.73M | 4.71M | 4.64M | 5.18M | 4.90M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 209.37M | 212.74M | 162.25M | 123.44M | 86.39M | 64.12M | 54.17M | 40.02M | 16.49M | 11.10M | 8.49M | 6.47M | 6.50M | 5.69M | 5.71M | 5.39M | 5.20M | 4.99M | 207.04K | 4.62M | 4.82M | 4.22M | 4.22M | 4.06M | 3.80M | 3.51M | 3.19M | 3.03M | 2.60M | 2.00M |
| EBITDA | 463.95M | 386.24M | 295.67M | 192.16M | 161.45M | 118.63M | 94.14M | 74.92M | 56.60M | 42.01M | 34.05M | 26.19M | 19.73M | 14.85M | 28.34M | 21.67M | 25.88M | 24.81M | 23.15M | 17.57M | 19.81M | 19.17M | 17.97M | 18.24M | 17.29M | 15.89M | 14.75M | 13.11M | 21.00M | 15.00M |
| EBITDA Ratio | 86.32% | 74.08% | 75.47% | 77.31% | 72.92% | 74.33% | 68.59% | 71.33% | 63.81% | 78.44% | 77.92% | 74.12% | 74.44% | 96.81% | 76.05% | 60.77% | 72.05% | 75.39% | 72.28% | 75.26% | 87.07% | 74.23% | 72.83% | 76.87% | 78.84% | 80.75% | 80.91% | 76.46% | 152.17% | 157.89% |
| Operating Income | 254.39M | 218.09M | 190.27M | 125.13M | 101.09M | 73.00M | 62.39M | 51.51M | 40.11M | 27.89M | 25.42M | 20.06M | 15.60M | 13.87M | 22.63M | 16.28M | 20.68M | 19.82M | 18.21M | 18.12M | 16.65M | 15.62M | 15.10M | 14.71M | 13.56M | 12.38M | 11.56M | 10.08M | 18.40M | 13.00M |
| Operating Income Ratio | 47.33% | 47.09% | 52.33% | 50.34% | 53.92% | 49.26% | 53.53% | 56.28% | 57.33% | 52.07% | 58.41% | 56.05% | 42.94% | 38.42% | 60.73% | 45.67% | 59.99% | 60.23% | 57.65% | 60.54% | 60.61% | 60.50% | 61.20% | 61.98% | 61.83% | 62.93% | 63.40% | 61.88% | 133.33% | 136.84% |
| Total Other Income/Expenses | -80.93M | -62.19M | -64.99M | -40.07M | -33.09M | -13.69M | -3.37M | -5.71M | -351.00K | -9.12M | -6.47M | -5.13M | 506.14K | -4.71M | 0.00 | -14.46M | 1.04M | -4.62M | 12.79K | -4.29M | 176.08K | 673.58K | 1.13M | 522.34K | 68.61K | 0.00 | 0.00 | 653.07K | 0.00 | 0.00 |
| Income Before Tax | 173.46M | 155.90M | 125.28M | 93.06M | 81.30M | 59.31M | 58.79M | 45.80M | 39.76M | 18.78M | 18.95M | 14.92M | 9.55M | 15.07M | 15.48M | 15.48M | 21.72M | 0.00 | 18.22M | 18.34M | 15.17M | 16.30M | 16.23M | 15.23M | 13.63M | 0.00 | 0.00 | 10.73M | 0.00 | 0.00 |
| Income Before Tax Ratio | 32.27% | 33.66% | 34.45% | 37.44% | 43.37% | 40.02% | 50.44% | 50.04% | 56.83% | 35.05% | 43.54% | 41.70% | 26.30% | 41.72% | 41.55% | 43.42% | 63.02% | 0.00% | 57.69% | 61.27% | 55.21% | 63.11% | 65.78% | 64.18% | 62.14% | 0.00% | 0.00% | 65.89% | 0.00% | 0.00% |
| Income Tax Expense | 2.91M | 2.86M | 2.40M | 1.09M | 538.00K | 516.00K | 4.62M | 6.39M | 1.10M | 8.87M | -728.73K | -3.13M | 9.70M | 6.51M | -9.83M | -13.20M | 5.20M | 5.84M | 6.58M | 5.00M | 7.14M | 6.85M | 6.82M | 7.61M | 6.75M | 6.29M | 6.34M | 6.35M | 15.20M | 12.70M |
| Net Income | 169.96M | 152.44M | 122.27M | 91.38M | 80.08M | 58.17M | 58.11M | 45.12M | 39.02M | 18.49M | 19.68M | 18.05M | 9.55M | 15.07M | 17.99M | 15.02M | 15.48M | 13.97M | 16.05M | 13.12M | 10.47M | 8.77M | 8.07M | 7.10M | 6.81M | 6.09M | 5.22M | 3.73M | 3.20M | 300.00K |
| Net Income Ratio | 31.62% | 32.91% | 33.63% | 36.76% | 42.71% | 39.25% | 49.86% | 49.29% | 55.77% | 34.52% | 45.21% | 50.43% | 26.30% | 41.72% | 48.29% | 42.12% | 44.92% | 42.46% | 50.82% | 43.85% | 38.12% | 33.97% | 32.68% | 29.91% | 31.04% | 30.94% | 28.63% | 22.92% | 23.19% | 3.16% |
| EPS | 1.70 | 1.84 | 1.79 | 1.76 | 1.96 | 1.81 | 2.09 | 1.97 | 2.17 | 1.24 | 1.51 | 1.63 | 0.99 | 1.54 | 2.20 | 1.91 | 2.02 | 1.84 | 2.15 | 2.03 | 1.63 | 1.99 | 1.81 | 1.61 | 1.56 | 1.40 | 1.41 | 1.41 | 1.23 | 0.08 |
| EPS Diluted | 1.70 | 1.83 | 1.78 | 1.74 | 1.93 | 1.80 | 2.08 | 1.97 | 2.16 | 1.24 | 1.50 | 1.62 | 0.99 | 1.54 | 2.14 | 1.91 | 2.01 | 1.83 | 2.14 | 2.03 | 1.63 | 1.97 | 1.81 | 1.61 | 1.56 | 1.40 | 1.41 | 1.41 | 1.23 | 0.08 |
| Weighted Avg Shares Out | 95.19M | 78.66M | 66.80M | 51.84M | 40.58M | 32.07M | 27.63M | 22.87M | 18.00M | 14.88M | 13.07M | 11.07M | 9.64M | 9.76M | 7.90M | 7.68M | 7.65M | 7.59M | 7.46M | 6.46M | 4.88M | 4.45M | 4.42M | 4.41M | 4.36M | 4.36M | 3.69M | 2.65M | 2.60M | 3.21M |
| Weighted Avg Shares Out (Dil) | 95.44M | 79.16M | 67.14M | 52.40M | 41.22M | 32.40M | 27.70M | 22.96M | 18.07M | 14.97M | 13.16M | 11.14M | 9.68M | 9.76M | 8.42M | 8.38M | 7.72M | 7.64M | 7.50M | 6.46M | 5.26M | 4.45M | 4.42M | 4.41M | 4.36M | 4.36M | 3.69M | 2.65M | 2.60M | 3.21M |
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