AGNC Investment Corp. (AGNC) Financial Ratios
18 years of historical data (2008–2025) · Real Estate · REIT - Mortgage
EV/EBITDA
↓
2.13
↓-90% vs avg
5yr avg: 20.83
30Y Low1.8·High77.2
P/FCF
↑
17.85
↓-36% vs avg
5yr avg: 27.91
30Y Low2.9·High84.2
P/B Ratio
↑
0.86
+12% vs avg
5yr avg: 0.77
30Y Low0.1·High1.2
ROE
↑
15.1%
↓+268% vs avg
5yr avg: 4.1%
30Y Low-13%·High29%
Debt/EBITDA
↓
0.01
↓-100% vs avg
5yr avg: 17.37
30Y Low0.0·High22.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AGNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AGNC Investment Corp. trades at 7.1x earnings, 87% below its 5-year average of 56.4x, sitting at the 33rd percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a discount of 71%. On a free-cash-flow basis, the stock trades at 17.9x P/FCF, 36% below the 5-year average of 27.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $11.7B | $11.0B | $7.2B | $6.1B | $5.6B | $8.0B | $8.6B | $9.6B | $7.7B | $7.2B | $6.0B |
| Enterprise Value | $10.0B | $9.3B | $6.8B | $5.6B | $46.1B | $63.7B | $70.6B | $8.6B | $7.1B | $6.6B | $8.3B |
| P/E Ratio → | 7.06 | 7.29 | 9.90 | 196.20 | — | 12.33 | — | 15.24 | 83.52 | 9.90 | 10.13 |
| P/S Ratio | 6.10 | 5.74 | 1.48 | 6.04 | 1.68 | 3.30 | 25.23 | 8.85 | 4.03 | 4.55 | — |
| P/B Ratio | 0.86 | 0.89 | 0.74 | 0.74 | 0.71 | 0.77 | 0.78 | 0.87 | 0.07 | 0.11 | 0.11 |
| P/FCF | 17.85 | 16.81 | 84.18 | — | 5.49 | 5.18 | 4.93 | 8.11 | 6.96 | 5.75 | — |
| P/OCF | 17.85 | 16.81 | 84.18 | — | 5.49 | 5.18 | 4.93 | 8.11 | 6.96 | 5.75 | 4.45 |
P/E links to full P/E history page with 30-year chart
AGNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
AGNC Investment Corp.'s enterprise value stands at 2.1x EBITDA, 90% below its 5-year average of 20.8x. The Real Estate sector median is 17.0x, placing the stock at a 87% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.86 | 1.39 | 5.61 | 13.96 | 26.37 | 206.89 | 7.92 | 3.70 | 4.12 | — |
| EV / EBITDA | 2.13 | 1.98 | 1.79 | 2.31 | — | 77.25 | 172.92 | 3.02 | 5.35 | 5.05 | 8.48 |
| EV / EBIT | 2.21 | 2.06 | 1.79 | 2.31 | — | 77.25 | 172.92 | 3.02 | 5.45 | 5.06 | 8.49 |
| EV / FCF | — | 14.24 | 79.05 | — | 45.52 | 41.33 | 40.38 | 7.26 | 6.38 | 5.20 | — |
AGNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
AGNC Investment Corp. earns an operating margin of 236.3%, significantly above the Real Estate sector average of 24.8%. Operating margins have compressed from 257.3% to 236.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 15.1% indicates solid capital efficiency. ROIC of 33.8% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 97.4% | 99.6% | 136.4% |
| Operating Margin | 236.3% | 236.3% | 79.6% | 257.3% | -17.1% | 34.1% | 162.5% | 262.2% | 67.8% | 81.4% | -8972.7% |
| Net Profit Margin | 87.3% | 87.3% | 17.7% | 15.4% | -36.0% | 31.0% | -78.0% | 63.6% | 6.7% | 48.5% | -5663.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.1% | 15.1% | 9.6% | 1.9% | -13.1% | 7.0% | -2.4% | 1.2% | 0.1% | 1.2% | 2.0% |
| ROA | 1.6% | 1.6% | 1.1% | 0.3% | -2.0% | 1.0% | -0.3% | 0.6% | 0.1% | 1.2% | 1.1% |
| ROIC | 33.8% | 33.8% | 34.0% | 6.9% | -0.7% | 0.9% | 1.0% | 3.7% | 1.1% | 1.6% | 2.2% |
| ROCE | 36.3% | 36.3% | 4.9% | 4.2% | -6.1% | 7.6% | 4.4% | 23.8% | 13.5% | 15.3% | 12.0% |
AGNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
AGNC Investment Corp. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 7.9x). The company holds a net cash position — cash of $1.7B exceeds total debt of $64M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 1.6x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 5.45 | 5.56 | 5.80 | 0.02 | 0.00 | 0.01 | 0.06 |
| Debt / EBITDA | 0.01 | 0.01 | 0.02 | 0.03 | — | 69.42 | 157.52 | 0.10 | 0.21 | 0.28 | 3.57 |
| Net Debt / Equity | — | -0.14 | -0.05 | -0.05 | 5.15 | 5.41 | 5.59 | -0.09 | -0.01 | -0.01 | 0.04 |
| Net Debt / EBITDA | -0.36 | -0.36 | -0.12 | -0.18 | — | 67.57 | 151.83 | -0.35 | -0.49 | -0.53 | 2.34 |
| Debt / FCF | — | -2.57 | -5.13 | — | 40.04 | 36.16 | 35.46 | -0.85 | -0.58 | -0.55 | — |
| Interest Coverage | 1.59 | 1.59 | 1.29 | 1.07 | -0.90 | 10.99 | 0.61 | 1.32 | 1.11 | 2.47 | 2.48 |
Net cash position: cash ($1.7B) exceeds total debt ($64M)
AGNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — | — | — | — | 0.23 | 0.75 | 1.12 |
| Quick Ratio | — | — | — | — | — | — | — | — | 0.23 | 0.92 | 1.12 |
| Cash Ratio | 0.02 | 0.02 | — | — | 0.05 | 0.03 | 0.03 | 0.01 | 0.01 | 0.02 | 0.02 |
| Asset Turnover | — | 0.02 | 0.06 | 0.01 | 0.06 | 0.04 | 0.00 | 0.01 | 0.02 | 0.02 | -0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
AGNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AGNC Investment Corp. returns 15.1% to shareholders annually primarily through dividends. The payout ratio of 95.9% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 14.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 15.1% | 14.6% | 17.1% | 16.5% | 15.6% | 10.8% | 11.3% | 11.9% | 12.6% | 11.0% | 13.3% |
| Payout Ratio | 95.9% | 95.9% | 143.8% | 648.4% | — | 114.8% | — | 165.6% | 755.0% | 103.1% | 128.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 14.2% | 13.7% | 10.1% | 0.5% | — | 8.1% | — | 6.6% | 1.2% | 10.1% | 9.9% |
| FCF Yield | 5.6% | 6.0% | 1.2% | — | 18.2% | 19.3% | 20.3% | 12.3% | 14.4% | 17.4% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 3.5% | 4.4% | 2.9% | 0.0% | 2.4% | 1.9% |
| Total Shareholder Yield | 15.1% | 14.6% | 17.1% | 16.5% | 16.6% | 14.3% | 15.7% | 14.8% | 12.6% | 13.4% | 15.2% |
| Shares Outstanding | — | $1.0B | $786M | $620M | $537M | $530M | $552M | $541M | $441M | $359M | $332M |
Peer Comparison
Compare AGNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AGNCYou | $12B | 7.1 | 2.1 | 17.9 | 100.0% | 236.3% | 15.1% | 33.8% | 0.0 |
 NLY | $16B | 7.6 | 18.3 | — | 99.9% | 102.6% | 14.1% | 6.4% | 16.3 |
 TWO | $1B | -2.8 | 197.9 | 14.6 | 97.9% | 68.7% | -23.2% | 3.1% | 188.0 |
 EARN | $165M | 18.3 | 98.1 | 18.1 | 31.3% | 14.0% | 4.0% | 0.7% | 79.3 |
 ARR | $2B | 5.1 | 20.7 | 16.7 | 97.0% | 73.9% | 17.8% | 6.8% | 18.6 |
 MFA | $973M | 5.7 | 17.0 | 12.8 | 96.2% | 78.8% | 9.6% | 4.4% | 15.9 |
 IVR | $575M | 5.2 | 19.1 | 3.7 | 96.7% | 94.5% | 13.3% | 4.0% | 17.5 |
 PMT | $892M | 10.4 | 210.1 | — | 15.4% | 9.1% | 6.7% | 0.4% | 203.5 |
 RWT | $645M | -8.2 | 21.2 | — | 95.6% | 95.3% | -6.5% | 3.9% | 20.8 |
 MITT | $252M | 8.8 | 18.3 | 4.2 | 94.7% | 96.9% | 8.8% | 4.5% | 17.9 |
 ORC | $1B | 5.4 | 22.7 | 8.4 | 97.8% | 88.6% | 15.6% | 2.1% | 22.0 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 18 years · Updated daily
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AGNC — Frequently Asked Questions
Quick answers to the most common questions about buying AGNC stock.
What is AGNC Investment Corp.'s P/E ratio?
AGNC Investment Corp.'s current P/E ratio is 7.1x. The historical average is 27.4x. This places it at the 33th percentile of its historical range.
What is AGNC Investment Corp.'s EV/EBITDA?
AGNC Investment Corp.'s current EV/EBITDA is 2.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.7x.
What is AGNC Investment Corp.'s ROE?
AGNC Investment Corp.'s return on equity (ROE) is 15.1%. The historical average is 7.8%.
Is AGNC stock overvalued?
Based on historical data, AGNC Investment Corp. is trading at a P/E of 7.1x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is AGNC Investment Corp.'s dividend yield?
AGNC Investment Corp.'s current dividend yield is 15.07% with a payout ratio of 95.9%.
What are AGNC Investment Corp.'s profit margins?
AGNC Investment Corp. has 100.0% gross margin and 236.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does AGNC Investment Corp. have?
AGNC Investment Corp.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.