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Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
AGREE REALTY CORPORATION’s top-line, gross profit, operating income, and bottom-line conversion. Values are shown in USD millions.
CAGR 20.6% (FY2021 to FY2025)
CAGR 17.6% (FY2021 to FY2025)
CAGR 15.7% (FY2021 to FY2025)
CAGR 13.7% (FY2021 to FY2025)
Change vs FY2021: -499 bps
Change vs FY2021: -869 bps
Change vs FY2021: -759 bps
Profitability profile tracked across FY2021 through FY2025.
Side-by-side read of gross, operating, and net margin.
Read the shape of profitability with either a discrete bar view or a cleaner line trajectory.
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
FY2025 versus FY2024
Negative values are highlighted to make slowdowns obvious.
The most direct way to see whether the business is accelerating or rolling over.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Compounded annual growth across FY2021 to FY2025.
Over the past five years, Agree Realty Corporation has shown strong and consistent revenue growth, with revenue increasing from approximately 339 million USD in 2021 to over 718 million USD in 2025. This represents a compound growth that is most pronounced in the jump from 2021 to 2022, where revenue surged by nearly 27%, hinting at a period of rapid expansion possibly driven by an uptick in market demand or successful property acquisitions. Gross profit has similarly risen from about 175 million USD to 335 million USD over the period, although the margin appears to have slightly compressed over time (from roughly 51.6% in 2021 to 46.6% in 2025). Operating income has tracked a parallel upward trend, growing from 190 million USD to 340 million USD, while net income increased from 122 million USD to 204 million USD. The most substantial year-over-year increase for net income was observed from 2021 to 2022, with an improvement of approximately 25%. Overall, the data reflects a robust financial performance with steady expansion in all key metrics. The operating income’s consistent climb underscores efficient management of core operations despite modest margin compressions likely due to scaling costs or increased operating expenditures. Even though net income growth moderated slightly in the later years, the company maintained its ability to translate increased revenue into profitability. This performance, contextualized within the real estate industry, suggests that Agree Realty Corporation is well-positioned in its market, demonstrating both resilience and sound operational execution.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.