Agree Realty Corporation (ADC) Income Statement Analysis

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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)

Industry: REIT - Retail

Sector: Real Estate

Website: https://www.agreerealty.com

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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