Agree Realty Corporation (ADC) Earnings History
Profitable32 years of earnings data (1994–2025) · Positive TTM net income
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Agree Realty Corporation (ADC) Earnings Overview
As of June 21, 2026, Agree Realty Corporation (ADC) reported trailing twelve-month net income of $220M, reflecting -0.6% year-over-year growth. The company earned $1.82 per diluted share over the past four quarters, with a net profit margin of 28.4%.
Looking at the long-term picture, ADC's 5-year EPS compound annual growth rate (CAGR) stands at +0.3%, reflecting modest earnings expansion. The company achieved its highest annual net income of $204M in fiscal 2025, representing a new all-time high.
Agree Realty Corporation maintains industry-leading profitability with a gross margin of 87.7%, operating margin of 47.4%, and net margin of 28.4%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including NNN ($387M net income, 42.1% margin), O ($1.12B net income, 18.4% margin), EPRT ($257M net income, 45.0% margin), ADC has room to improve margins relative to the peer group. Compare ADC vs NNN →
ADC Earnings vs Peers
Earnings metrics vs comparable public companies
ADC Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $204M | +8.0% | $340M | $1.77 | 28.4% | 47.4% |
| 2024 | $189M | +11.3% | $302M | $1.78 | 30.7% | 49.0% |
| 2023 | $170M | +11.5% | $254M | $1.70 | 31.6% | 47.3% |
| 2022 | $152M | +24.7% | $218M | $1.83 | 35.5% | 50.7% |
| 2021 | $122M | +33.8% | $190M | $1.78 | 36.0% | 56.1% |
| 2020 | $91M | +14.1% | $133M | $1.74 | 36.8% | 53.6% |
| 2019 | $80M | +37.7% | $114M | $1.93 | 42.7% | 61.0% |
| 2018 | $58M | +0.1% | $73M | $1.80 | 42.4% | 53.2% |
| 2017 | $58M | +28.8% | $63M | $2.08 | 52.1% | 56.5% |
| 2016 | $45M | +15.6% | $52M | $1.97 | 49.3% | 56.4% |
| 2015 | $39M | +111.0% | $40M | $2.16 | 55.8% | 57.3% |
| 2014 | $18M | -6.0% | $28M | $1.24 | 34.5% | 52.1% |
| 2013 | $20M | +9.0% | $25M | $1.50 | 45.2% | 58.4% |
| 2012 | $18M | +89.0% | $19M | $1.62 | 52.1% | 56.0% |
| 2011 | $10M | -36.6% | $15M | $0.99 | 31.6% | 50.7% |
| 2010 | $15M | -16.3% | $9M | $1.54 | 54.9% | 32.1% |
| 2009 | $18M | +19.8% | $21M | $2.14 | 52.3% | 59.9% |
| 2008 | $15M | -3.0% | $21M | $1.91 | 42.1% | 60.2% |
| 2007 | $15M | +10.8% | $21M | $2.01 | 44.9% | 60.0% |
| 2006 | $14M | -12.9% | $20M | $1.83 | 42.5% | 60.2% |
| 2005 | $16M | +22.3% | $18M | $2.14 | 50.8% | 57.7% |
| 2004 | $13M | +25.3% | $18M | $2.03 | 45.3% | 60.9% |
| 2003 | $10M | +19.4% | $15M | $1.63 | 39.9% | 57.2% |
| 2002 | $9M | +8.8% | $16M | $1.97 | 38.0% | 67.7% |
| 2001 | $8M | +13.6% | $15M | $1.81 | 36.3% | 68.1% |
| 2000 | $7M | +4.3% | $15M | $1.61 | 31.5% | 65.2% |
| 1999 | $7M | +11.8% | $14M | $1.56 | 31.1% | 61.9% |
| 1998 | $6M | +16.6% | $12M | $1.40 | 30.7% | 62.5% |
| 1997 | $5M | +39.8% | $12M | $1.41 | 28.4% | 62.8% |
| 1996 | $4M | +16.7% | $10M | $1.41 | 22.9% | 61.9% |
| 1995 | $3M | +966.7% | $18M | $1.23 | 23.2% | 133.3% |
| 1994 | $300,000 | - | $13M | $0.08 | 3.2% | 136.8% |
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ADC — Frequently Asked Questions
Quick answers to the most common questions about buying ADC stock.
What is ADC earnings per share (EPS)?
ADC trailing twelve-month (TTM) diluted EPS is $1.82, reflecting -0.6% year-over-year growth. The 5-year EPS CAGR is +0.3%. Complete EPS history from 1994 to 2025 is available in the table on this page.
What is Agree Realty Corporation's net income?
Agree Realty Corporation (ADC) trailing twelve-month net income is $220M as of 2025. Earnings declined -0.6% year-over-year. Agree Realty Corporation has been profitable for 32 consecutive years.
Is ADC profitable?
Yes, ADC is profitable with a TTM net income of $220M and a net profit margin of +28.4%. Agree Realty Corporation has generated profits for 32 consecutive years.
What is ADC's earnings growth rate?
ADC compound annual EPS growth rates (CAGR): 1-Year: -0.6%, 3-Year: -1.1%, 5-Year: +0.3%, 10-Year: -2.0%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1994 to 2025.
What are ADC's profit margins?
Agree Realty Corporation net profit margin is +28.4%, operating margin is +47.4%, and gross margin is +87.7%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +3.5%.
Is ADC growing earnings?
ADC earnings growth is slowing. Current YoY EPS growth of -0.6% trails the 5-year CAGR of +0.3%. TTM net income is $220M.
What was ADC's best earnings year?
Agree Realty Corporation's highest annual net income on record is $204M, achieved in fiscal year 2025. Earnings history on this page spans 1994 to 2025 and includes all annual and quarterly figures.
What were ADC's earnings last quarter?
ADC's most recent reported quarter was Q1 2026. Net income was $62M with diluted EPS of $0.50. For a full breakdown of all quarters, see the quarterly earnings table on this page.