Comprehensive Stock Comparison
Compare Agree Realty Corporation (ADC) vs NETSTREIT Corp. (NTST) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | NTST | 30.0% revenue growth vs ADC's 16.4% |
| Value | ADC | Lower P/E (41.3x vs 63.6x) |
| Quality / Margins | ADC | 27.6% net margin vs NTST's 0.1% |
| Stability / Safety | ADC | Beta 0.06 vs NTST's 0.16 |
| Dividends | NTST | 4.0% yield, vs ADC's 0.1% |
| Momentum (1Y) | NTST | +44.5% vs ADC's +13.6% |
| Efficiency (ROA) | ADC | 2.0% ROA vs NTST's 0.0%, ROIC 2.9% vs 2.1% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Agree Realty Corporation is a retail-focused real estate investment trust that acquires and develops single-tenant properties leased to national retail tenants. It generates revenue primarily through long-term net leases — where tenants pay most property expenses — with its portfolio heavily weighted toward investment-grade tenants like Walmart, Dollar General, and Tractor Supply. The company's competitive advantage lies in its disciplined acquisition strategy focused on recession-resistant retail sectors and its relationships with creditworthy tenants that provide stable, predictable cash flows.
NETSTREIT is a real estate investment trust that acquires and manages single-tenant net lease retail properties across the United States. It generates revenue primarily through rental income from long-term leases—typically 10+ years—with national retailers in e-commerce resistant sectors like grocery stores, pharmacies, and convenience stores. The company's competitive advantage lies in its disciplined acquisition strategy focused on essential retail tenants with strong credit profiles and its internal management structure that aligns interests with shareholders.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ADC leads in 4 of 6 categories (Valuation Metrics, Profitability & Efficiency). NTST leads in 1 (Analyst Outlook). 1 tied.
Financial Metrics (TTM)
ADC is the larger business by revenue, generating $689M annually — 3.9x NTST's $176M. ADC is the more profitable business, keeping 27.6% of every revenue dollar as net income compared to NTST's 0.1%. On growth, NTST holds the edge at +27.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| RevenueTrailing 12 months | $689M | $176M |
| EBITDAEarnings before interest/tax | $581M | $133M |
| Net IncomeAfter-tax profit | $190M | $185,000 |
| Free Cash FlowCash after capex | $484M | $106M |
| Gross MarginGross profit ÷ Revenue | +89.0% | +92.4% |
| Operating MarginEBIT ÷ Revenue | +46.9% | +27.7% |
| Net MarginNet income ÷ Revenue | +27.6% | +0.1% |
| FCF MarginFCF ÷ Revenue | +70.3% | +59.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.7% | +27.7% |
| EPS Growth (YoY)Latest quarter vs prior year | +7.1% | +110.6% |
Valuation Metrics
At 45.5x trailing earnings, ADC trades at a 82% valuation discount to NTST's 259.6x P/E. Adjusting for growth (PEG ratio), NTST offers better value at 4.44x vs ADC's 120.54x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| Market CapShares × price | $236M | $1.7B |
| Enterprise ValueMkt cap + debt − cash | $3.2B | $1.7B |
| Trailing P/EPrice ÷ TTM EPS | 45.47x | 259.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 41.29x | 63.58x |
| PEG RatioP/E ÷ EPS growth rate | 120.54x | 4.44x |
| EV / EBITDAEnterprise value multiple | 5.46x | 12.59x |
| Price / SalesMarket cap ÷ Revenue | 0.33x | 8.89x |
| Price / BookPrice ÷ Book value/share | 1.43x | 1.20x |
| Price / FCFMarket cap ÷ FCF | 0.47x | 15.83x |
Profitability & Efficiency
ADC delivers a 3.2% return on equity — every $100 of shareholder capital generates $3 in annual profit, vs $0 for NTST.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| ROE (TTM)Return on equity | +3.2% | +0.0% |
| ROA (TTM)Return on assets | +2.0% | +0.0% |
| ROICReturn on invested capital | +2.9% | +2.1% |
| ROCEReturn on capital employed | +4.5% | +2.1% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.47x | — |
| Net DebtTotal debt minus cash | $2.9B | -$14M |
| Cash & Equiv.Liquid assets | $16M | $14M |
| Total DebtShort + long-term debt | $2.9B | $0 |
| Interest CoverageEBIT ÷ Interest expense | — | — |
Total Returns (with DRIP)
A $10,000 investment in ADC five years ago would be worth $14,667 today (with dividends reinvested), compared to $13,826 for NTST. Over the past 12 months, NTST leads with a +44.5% total return vs ADC's +13.6%. The 3-year compound annual growth rate (CAGR) favors ADC at 8.1% vs NTST's 4.8% — a key indicator of consistent wealth creation.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| YTD ReturnYear-to-date | +12.3% | +16.9% |
| 1-Year ReturnPast 12 months | +13.6% | +44.5% |
| 3-Year ReturnCumulative with dividends | +26.5% | +15.2% |
| 5-Year ReturnCumulative with dividends | +46.7% | +38.3% |
| 10-Year ReturnCumulative with dividends | +186.6% | +41.7% |
| CAGR (3Y)Annualised 3-year return | +8.1% | +4.8% |
Risk & Volatility
ADC is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than NTST's 0.16 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.06x | 0.16x |
| 52-Week HighHighest price in past year | $81.17 | $21.13 |
| 52-Week LowLowest price in past year | $68.98 | $14.00 |
| % of 52W HighCurrent price vs 52-week peak | +99.1% | +98.3% |
| RSI (14)Momentum oscillator 0–100 | 70.6 | 71.2 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 1.3M |
Analyst Outlook
Wall Street rates ADC as "Buy" and NTST as "Buy". Consensus price targets imply 1.1% upside for NTST (target: $21) vs 0.7% for ADC (target: $81). NTST is the only dividend payer here at 4.02% yield — a key consideration for income-focused portfolios.
| Metric | ADCAgree Realty Corp… | NTSTNETSTREIT Corp. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $81.06 | $21.00 |
| # AnalystsCovering analysts | 32 | 18 |
| Dividend YieldAnnual dividend ÷ price | +0.1% | +4.0% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.07 | $0.83 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | +0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Sep 20 | Feb 26 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 100 | 107.25 | +7.2% |
| NETSTREIT Corp. (NTST) | 103.1 | 104.68 | +1.5% |
Agree Realty Corpor… (ADC) returned +47% over 5 years vs NETSTREIT Corp. (NTST)'s +38%. A $10,000 investment in ADC 5 years ago would be worth $14,667 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | $92M | $718M | +684.9% |
| NETSTREIT Corp. (NTST) | $24M | $195M | +718.4% |
Agree Realty Corporation's revenue grew from $92M (2016) to $718M (2025) — a 25.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 49.3% | 27.4% | -44.4% |
| NETSTREIT Corp. (NTST) | -85.2% | 3.5% | +104.2% |
Agree Realty Corporation's net margin went from 49% (2016) to 27% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 24.7 | 40.7 | +64.8% |
| NETSTREIT Corp. (NTST) | 286.3 | 220.5 | -23.0% |
Agree Realty Corporation has traded in a 25x–41x P/E range over 9 years; current trailing P/E is ~45x. NETSTREIT Corp. has traded in a 115x–286x P/E range over 4 years; current trailing P/E is ~260x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Agree Realty Corpor… (ADC) | 1.97 | 1.77 | -10.2% |
| NETSTREIT Corp. (NTST) | -0.84 | 0.08 | +109.5% |
Agree Realty Corporation's EPS grew from $1.97 (2016) to $1.77 (2025) — a -1% CAGR.
Chart 6Free Cash Flow — 5 Years
Agree Realty Corporation generated $504M FCF in 2025 (+105% vs 2021). NETSTREIT Corp. generated $110M FCF in 2025 (+256% vs 2021).
ADC vs NTST: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is ADC or NTST a better buy right now?
Agree Realty Corporation (ADC) offers the better valuation at 45.5x trailing P/E (41.3x forward), making it the more compelling value choice. Analysts rate Agree Realty Corporation (ADC) a "Buy" — based on 32 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ADC or NTST?
On trailing P/E, Agree Realty Corporation (ADC) is the cheapest at 45.5x versus NETSTREIT Corp. at 259.6x. On forward P/E, Agree Realty Corporation is actually cheaper at 41.3x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: NETSTREIT Corp. wins at 1.09x versus Agree Realty Corporation's 120.54x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — ADC or NTST?
Over the past 5 years, Agree Realty Corporation (ADC) delivered a total return of +46.7%, compared to +38.3% for NETSTREIT Corp. (NTST). A $10,000 investment in ADC five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ADC returned +186.6% versus NTST's +41.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ADC or NTST?
By beta (market sensitivity over 5 years), Agree Realty Corporation (ADC) is the lower-risk stock at 0.06β versus NETSTREIT Corp.'s 0.16β — meaning NTST is approximately 159% more volatile than ADC relative to the S&P 500.
05Which has better profit margins — ADC or NTST?
Agree Realty Corporation (ADC) is the more profitable company, earning 27.4% net margin versus 3.5% for NETSTREIT Corp. — meaning it keeps 27.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ADC leads at 47.4% versus 25.7% for NTST. At the gross margin level — before operating expenses — NTST leads at 99.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is ADC or NTST more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, NETSTREIT Corp. (NTST) is the more undervalued stock at a PEG of 1.09x versus Agree Realty Corporation's 120.54x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Agree Realty Corporation (ADC) trades at 41.3x forward P/E versus 63.6x for NETSTREIT Corp. — 22.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NTST: 1.1% to $21.00.
07Which pays a better dividend — ADC or NTST?
In this comparison, NTST (4.0% yield) pays a dividend. ADC does not pay a meaningful dividend and should not be held primarily for income.
08Is ADC or NTST better for a retirement portfolio?
For long-horizon retirement investors, NETSTREIT Corp. (NTST) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.16), 4.0% yield). Both have compounded well over 10 years (NTST: +41.7%, ADC: +186.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between ADC and NTST?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: ADC is a small-cap quality compounder stock; NTST is a small-cap income-oriented stock. NTST pays a dividend while ADC does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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