Agree Realty Corporation
$12.54B- Market cap
- $9.03B
- Debt
- +$3.53B
- Cash
- −$16.30M
Capital structure 72% equity / 28% debt · EV / Revenue 17.46x · EV / EBITDA 37.41x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: ADC stock price vs GNL: inconclusive Relative valuation is incomplete for this pair. Review the available filing metrics before drawing a conclusion.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at GNL's multiple
Needs GNL P/E.
Implied fair value · at ADC's multiple
Needs EPS (TTM) is negative, ADC P/E.
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ADC FY 2025 (ended Dec 31, 2025) · GNL FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 72% equity / 28% debt · EV / Revenue 17.46x · EV / EBITDA 37.41x
Capital structure 42% equity / 58% debt · EV / Revenue 8.83x · EV / EBITDA 22.17x
ADC carries the larger enterprise value at $12.54B against $4.37B; GNL trades on the lower EV / Revenue multiple (8.83x vs 17.46x); GNL on the lower EV / EBITDA (22.17x vs 37.41x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
AGREE REALTY CORPORATION · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Global Net Lease, Inc. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.56x
1.58x
Net debt / EBITDA
Leverage against operating earnings
10.47x
12.41x
Cash and equivalents
Liquid reserves on the balance sheet
$16.30M
$180.11M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$3.53B
$2.63B
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