StockData

Agree Realty Corp (ADC.PA) stock analysis

ADC.PANYSEReal Estate Investment TrustsFiscal year ends December 31Also trades as ADC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 20, 2026Score 12/3013% above fair value
$15.76−0.18 (-1.13%)

Close on Oct 30, 2026Market cap $8.34BP/E 36.1Yield 4.58%

StockData Score

Prices as of Oct 30, 2026How the score works

Value2Growth3Performance3Health0Dividend4

Mixed12 of 30 checks passed

Agree Realty passes 12 of the 30 checks behind our score; 6 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
3/6
Past performance
3/6
Financial health
0/6
Dividend
4/6

What stands out

  • Earnings grew over 5 years

    Net income grew 17.5% a year on average over the last five fiscal years.

  • Revenue growing 10%+ a year

    Revenue grew 18.7% a year over the last three fiscal years.

  • Earnings growth accelerating

    Net income grew 21.0% over the last twelve months, against a 5-year average of 17.5% a year.

  • P/E below its 5-year median

    Agree Realty's P/E of 36.1 is below its own 5-year median of 39.3.

What to watch

  • Margin of safety under 20%

    The price is 13.2% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $67.07 is above our fair value estimate of $59.27.

  • Return on equity under 15%

    Return on equity was 3.7% over the last twelve months and averaged 3.7% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.9%, below the 10% that usually covers the cost of capital.

Valuation2/6

  • P/E below its 5-year median

    Agree Realty's P/E of 36.1 is below its own 5-year median of 39.3.

  • P/E above the industry

    Agree Realty's P/E of 36.1 is above the Miscellaneous Investing median of 25.0.

  • EV/EBITDA below its 5-year median

    Agree Realty's EV/EBITDA of 13.1 is below its 5-year median of 15.7.

  • P/B above the industry

    Agree Realty's price-to-book of 1.28 is above the Miscellaneous Investing median of 1.20.

  • Trading above fair value

    The share price of $67.07 is above our fair value estimate of $59.27.

  • Margin of safety under 20%

    The price is 13.2% above fair value, so there is no margin of safety.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 18.7% a year over the last three fiscal years.

  • EPS growing under 10% a year

    Diluted EPS grew -1.1% a year over the last three fiscal years.

  • Earnings growth accelerating

    Net income grew 21.0% over the last twelve months, against a 5-year average of 17.5% a year.

  • Growing faster than the industry

    Revenue grew 18.2% over the last twelve months; the Miscellaneous Investing median is 4.4%.

  • Guidance lowered

    Agree Realty lowered its 2026 Income and other tax expense outlook on Oct 20, 2026.

  • Gross margin trend

    This company does not report gross profit.

Past performance3/6

  • Return on equity under 15%

    Return on equity was 3.7% over the last twelve months and averaged 3.7% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 4.9%, below the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Agree Realty's return on equity of 3.7% is above the Miscellaneous Investing median of 3.4%.

  • Earnings grew over 5 years

    Net income grew 17.5% a year on average over the last five fiscal years.

  • Net margin below its 5-year average

    Net margin was 28.8% over the last twelve months, against a 5-year average of 32.4%.

  • Net margin above the industry

    Agree Realty's net margin of 28.8% is above the Miscellaneous Investing median of 11.4%.

Financial health0/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense 2.5 times; we look for at least 5.

  • Short-term liquidity

    The balance sheet is not split into current and non-current items.

  • Elevated bankruptcy risk

    The Altman Z-score is 1.42; above 3 is the safe zone and below 1.8 the distress zone.

Dividend4/6

  • Pays a dividend

    Agree Realty paid dividends worth 4.7% of the share price over the last twelve months.

  • Yield above Treasuries

    The 4.7% yield is above the 4.4% on a 1-year Treasury.

  • Yield in the top quarter

    The top quarter of US dividend payers yield 4.0% or more; Agree Realty yields 4.7%.

  • Dividend not cut

    The dividend per share has not fallen by more than 10% in any of the last 5 fiscal years.

  • Not covered by earnings

    Dividends take 162% of net income, leaving little room.

  • Cash-flow cover

    Needs dividends paid and free cash flow.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$59.27

The share price is 13% above this estimate.

20%+ below
Near fair value
20%+ above
$67.07Price$59.27Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E32.2×39.3×25.0×$59.8840%
EV/EBITDA13.1×15.7×10.5×$66.9135%
P/B1.3×1.4×1.2×$68.2010%
Earnings power7.5% cost of equity––$33.8415%
Fair value$59.27100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 39.3
  • Miscellaneous Investing median 25.0

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$115.99M
Value traded per 1% price move
$116.90M

Downside

Low risk

Typical loss in a bad month
9.4%
Volatility (annualized)
17%
Sharpe ratio, 1 year
-0.73
Beta to the S&P 500 (5Y)
0.30

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Operating margin

47.4%−6.2 pts over 5 years

Net margin

28.4%−8.3 pts over 5 years