Federal Agricultural Mortgage Corp. Class C Common Stock (AGM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$4.87	$5.4	+10.9%	—	$125M	—
Q1 26	$4.44	$4.74	+6.8%	—	$109.1M	—
Q4 25	$4.53	$3.66	-19.2%	—	$107.5M	—
Q3 25	$4.58	$4.44	-3.1%	—	$103.9M	—
Q2 25	$4.29	$4.32	+0.7%	—	$102.7M	—
Q1 25	$4.06	$4.19	+3.2%	—	$94.2M	—
Q4 24	$4.17	$3.97	-4.8%	—	$101.4M	—
Q3 24	$4.11	$4.1	-0.2%	—	$90.3M	—
Q2 24	$4.08	$3.63	-11.0%	—	$89.9M	—
Q1 24	$4.06	$3.96	-2.5%	—	$93.6M	—
Q4 23	$4.05	$4.1	+1.2%	—	$85M	—
Q3 23	$4	$4.13	+3.2%	—	$97.1M	—
Q2 23	$3.23	$3.86	+19.5%	—	$84.6M	—
Q1 23	$2.88	$3.56	+23.6%	—	$84.6M	—
Q4 22	$2.92	$3.16	+8.2%	—	$78.6M	—
Q3 22	$2.9	$3.07	+5.9%	—	$71.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$16.7	—	—	$408.4M	—
FY24	—	$16.6	—	—	$375.2M	—
FY23	—	$16	—	—	$351.3M	—
FY22	—	$14	—	—	$309.1M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$160.7M	$175.2M	$186.2M	$194.1M	$206.9M	$243.7M	$309.1M	$351.3M	$375.2M	$408.4M
YoY change	+10.1%	+8.97%	+6.29%	+4.24%	+6.6%	+17.8%	+26.8%	+13.7%	+6.79%	+8.85%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	160.7M	175.2M	186.2M	194.1M	206.9M	243.7M	309.1M	351.3M	375.2M	408.4M
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	37.9M	40.2M	47.2M	49.1M	58.5M	70.4M	78.5M	93.9M	102.2M	115.9M
Operating expenses	37.9M	40.2M	47.2M	49.1M	58.5M	70.4M	78.5M	93.9M	102.2M	115.9M
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	119.4M	130.7M	136M	138.7M	137.4M	172.5M	225.7M	253.1M	258.1M	255.7M
Income tax	42.1M	46.4M	27.9M	29.1M	28.8M	36.4M	47.5M	53.1M	50.9M	48.3M
Net income	77.3M	84.3M	108.1M	109.5M	108.6M	136.1M	178.1M	200M	207.2M	207.4M
Net margin	48.1%	48.1%	58.1%	56.4%	52.5%	55.8%	57.6%	56.9%	55.2%	50.8%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	6.12	6.73	8.91	8.76	8.31	10	14	16	16.6	16.7
Diluted EPS	5.97	6.6	8.83	8.69	8.27	9.92	13.9	15.8	16.4	16.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	97.1M	85M	93.6M	89.9M	90.3M	101.4M	94.2M	102.7M	103.9M	107.5M	109.1M	125M
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	23.2M	24.4M	26.5M	23.7M	23.9M	28.1M	28.5M	28.5M	28.8M	30.1M	32.5M	35.3M
Operating expenses	23.2M	24.4M	26.5M	23.7M	23.9M	28.1M	28.5M	28.5M	28.8M	30.1M	32.5M	35.3M
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	73.3M	60.4M	68.2M	59.2M	62.2M	68.4M	63.1M	65.4M	66.7M	60.5M	71.4M	81.8M
Income tax	15.1M	12.8M	14.5M	12.1M	12.4M	11.9M	13.5M	10.6M	11.7M	12.5M	12.3M	14.9M
Net income	58.1M	47.6M	53.7M	47.1M	49.8M	56.5M	49.7M	54.8M	55M	47.9M	59.1M	67M
Net margin	59.9%	56%	57.4%	52.4%	55.2%	55.8%	52.7%	53.4%	52.9%	44.6%	54.2%	53.6%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	4.74	3.77	4.33	3.71	3.89	4.67	4.04	4.5	4.45	3.73	4.78	5.43
Diluted EPS	4.69	3.73	4.28	3.68	3.86	4.63	4.01	4.48	4.44	3.71	4.75	5.41

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	600.3M	828.9M	643.7M	893.1M	796.6M	1.3B	1.2B	2.1B	2.1B	1.9B	2.3B
Enterprise value	7.8B	9.8B	9.8B	20.9B	12.1B	14B	13.8B	18.4B	19B	32.7B	38.9B
Shares outstanding	10.5M	10.6M	10.7M	10.7M	10.7M	10.8M	10.8M	10.8M	10.9M	10.9M	10.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	7.77	9.83	5.96	8.15	7.33	9.8	6.83	10.4	10.3	9.24	11.8
P/S	3.73	4.73	3.46	4.6	3.85	5.47	3.93	5.89	5.71	4.69	5.72
P/B	0.93	1.17	0.86	1.12	0.8	1.1	0.96	1.47	1.44	1.11	1.87
EV/Sales	48.3	55.8	52.6	107.8	58.6	57.3	44.7	52.4	50.6	80.1	95.1
Earnings yield	12.9%	10.2%	16.8%	12.3%	13.6%	10.2%	14.6%	9.66%	9.67%	10.8%	8.48%
FCF yield	35.4%	21.1%	31.1%	-2.21%	-11.9%	32.7%	66.5%	18.1%	28.4%	4.18%	7.8%
PEG	—	—	—	—	—	—	—	—	—	—	0.57

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	69.7%
Net margin	48.1%	48.1%	58.1%	56.4%	52.5%	55.8%	57.6%	56.9%	55.2%	50.8%	56%
ROE	12%	11.9%	14.4%	13.7%	10.9%	11.2%	14%	14.2%	13.9%	12.1%	13.5%
ROA	—	—	—	—	—	—	—	—	0.66%	0.59%	0.63%
Return on tangible assets	—	—	—	—	—	—	—	—	0.66%	0.59%	0.58%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	1.5
Debt / equity	23	23.9	23.6	38.5	23.3	19.5	20.2	19.6	19.7	19.3	19.9
Debt / assets	—	—	—	—	—	—	—	—	0.94	0.94	0.94
Effective tax rate	35.2%	35.5%	20.5%	21%	20.9%	21.1%	21.1%	21%	19.7%	18.9%	18.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	15.3	16.5	17.5	18.1	19.3	22.7	28.6	32.4	34.5	37.4	37.6
EPS (basic)	6.12	6.73	8.91	8.76	8.31	10	14	16	16.6	16.7	16.7
EPS (diluted)	5.97	6.6	8.83	8.69	8.27	9.92	13.9	15.8	16.4	16.6	18.3
Book value per share	61.4	66.8	70.7	74.7	92.5	112.8	117.9	130.4	136.9	157.5	115.2
FCF per share	20.3	16.5	18.8	-1.84	-8.81	40.6	75	34.7	55.9	7.34	28.5
Cash per share	728.3	754.1	809.1	1K	1.1K	1K	1.2K	1K	1.1K	219.6	97.1
Capex per share	—	—	—	—	—	—	—	—	0.48	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	1.41%	—	—
Capex / operating cash flow	—	—	—	—	—	—	—	—	1.36%	—	—
Payout ratio	31.1%	33.7%	35.1%	40.1%	46.6%	45.1%	38.3%	37.4%	41.5%	42.9%	33.9%
Dividend yield	4.01%	3.43%	5.89%	4.91%	6.36%	4.6%	5.6%	3.61%	4.02%	4.65%	2.96%

Yield

2.96%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.60

ex-dividend Sep 15, 2026

Payout ratio

34%

of earnings

Dividend growth

14 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$1.60
Jun 15, 2026	$1.60
Mar 16, 2026	$1.60

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$97.1M	$85M	$93.6M	$89.9M	$90.3M	$101.4M	$94.2M	$102.7M	$103.9M	$107.5M	$109.1M	$125M
YoY change	+35.1%	+8.11%	+10.6%	+6.26%	-7.02%	+19.2%	+0.65%	+14.3%	+15.1%	+6.07%	+15.8%	+21.7%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.6B	8B	8.6B	10.7B	11.8B	11.1B	13B	11.3B	12.5B	2.4B
Receivables	122.8M	155.3M	180.1M	199.2M	186.4M	165.6M	229.1M	287.1M	310.6M	357.2M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	—	—	—	—	—	—	—	—	31.3B	35.4B
Accounts payable	59.1M	89.5M	108.6M	129M	121.6M	130.7M	186.8M	258.5M	407.6M	233.7M
Short-term debt	8.4B	8.1B	7.8B	10B	—	7B	8B	8.1B	10.4B	11.3B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	6.4B	8.8B	10B	20.7B	23.2B	16.7B	17.6B	19.6B	18.9B	21.9B
Total liabilities	—	—	—	—	—	—	—	—	29.8B	33.7B
Shareholders' equity	643.6M	708.1M	752.6M	799.3M	992.5M	1.2B	1.3B	1.4B	1.5B	1.7B
Total debt	14.8B	16.9B	17.8B	30.7B	23.2B	23.7B	25.7B	27.7B	29.3B	33.2B
Net debt	14.5B	16.6B	17.3B	30.1B	22.1B	22.8B	24.8B	26.8B	28.3B	32.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	10.7B	11.3B	11.2B	11.6B	12.5B	12.5B	2.4B	2.6B	2.5B	2.4B	2.2B	2.7B
Receivables	230.5M	287.1M	245.2M	285.8M	253.1M	310.6M	262.8M	313.4M	284.8M	357.2M	303.7M	374.1M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	—	—	29.8B	30.2B	30.6B	31.3B	31.8B	33B	33.4B	35.4B	36.7B	39.3B
Accounts payable	230.9M	258.5M	277.7M	319.4M	296.3M	407.6M	293.2M	347.5M	327.5M	233.7M	254.8M	268.4M
Short-term debt	8B	8.1B	—	9B	9.9B	10.4B	10.1B	10.3B	10.1B	11.3B	11.5B	12.9B
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	18.5B	19.6B	27.8B	19.2B	18.8B	18.9B	19.8B	20.7B	21.1B	21.9B	23B	24B
Total liabilities	—	—	28.3B	28.7B	29.2B	29.8B	30.3B	31.5B	31.7B	33.7B	35B	37.4B
Shareholders' equity	1.4B	1.4B	1.5B	1.5B	1.5B	1.5B	1.5B	1.5B	1.7B	1.7B	1.7B	1.9B
Total debt	26.5B	27.7B	27.8B	28.2B	28.7B	29.3B	29.9B	31B	31.3B	33.2B	34.5B	36.9B
Net debt	25.7B	26.8B	27.1B	27.3B	27.9B	28.3B	28.8B	30B	30.4B	32.3B	33.8B	35.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	77.3M	84.3M	108.1M	109.5M	108.6M	136.1M	178.1M	200M	207.2M	207.4M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	3.3M	2.7M	2.5M	2.3M	4.1M	4.3M	4.6M	6.8M	8.1M	8.3M
Change in working capital	36.2M	-150K	-11.9M	-10.2M	-485K	29.6M	-130.5M	43.6M	144.6M	22.4M
Operating cash flow	191M	159M	193.4M	156.8M	124.6M	215.3M	98M	281.5M	388.5M	80.1M
Capital expenditure	—	—	—	—	—	—	—	—	-5.3M	—
Investing cash flow	22.7M	-1B	-253.8M	-907.6M	-278.3M	-361.8M	-1.8B	-1.2B	531M	-720.6M
Dividends paid	-24.1M	-28.4M	-37.9M	-43.9M	-50.6M	-61.3M	-68.2M	-74.8M	-86.1M	-89M
Share repurchases	-9.3M	0	0	-75M	-60.2M	0	0	—	-75M	-12.9M
Financing cash flow	94.5B	53.7B	42.2B	67.2B	70.8B	61.6B	2.2B	1.6B	1.2B	3.6B
Net change in cash	94.7B	52.8B	42.2B	66.5B	70.7B	61.5B	502.9M	733.9M	2.1B	3B
Free cash flow	212.7M	175M	200M	-19.7M	-94.5M	436.4M	809.3M	375.8M	607.4M	80.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	58.1M	47.6M	53.7M	47.1M	49.8M	56.5M	49.7M	54.8M	55M	47.9M	59.1M	67M
Depreciation & amortization	—	—	—	—	—	—	—	—	—	—	—	—
Stock-based compensation	1.2M	2.1M	3.5M	1.6M	1.5M	1.6M	3.5M	1.7M	1.4M	1.7M	3M	2.3M
Change in working capital	28.4M	40.3M	34.8M	-31.4M	101M	40.1M	-29.6M	-41.5M	-746K	61.9M	19M	-24.2M
Operating cash flow	88M	92.5M	107.5M	19.4M	162.3M	99.4M	44.7M	-47.7M	74.2M	103.4M	92.1M	40.4M
Capital expenditure	0	—	-1.6M	-3.6M	-66K	0	0	—	—	—	—	—
Investing cash flow	-942.2M	-313.4M	-295.6M	439.3M	249.2M	138.1M	13.8M	-215.5M	397.8M	-916.7M	-731.4M	-1.3B
Dividends paid	-18.7M	-18.7M	-22M	-22M	-22M	-20M	-22M	-22.1M	-22.1M	-22.9M	-24.6M	-24.7M
Share repurchases	—	—	—	—	—	0	—	—	0	-12.9M	-7.1M	0
Financing cash flow	543.2M	948.2M	148.5M	230.1M	304.1M	597.4M	419.8M	1.1B	324.7M	1.8B	1.3B	2.5B
Net change in cash	-310.9M	727.3M	-39.5M	688.8M	715.6M	834.8M	478.3M	803.3M	796.7M	1B	681M	1.3B
Free cash flow	363M	-166.8M	231.7M	52.6M	-44.4M	367.5M	-49.8M	-47.7M	74.2M	103.4M	92.1M	40.4M

Federal Agricultural Mortgage Corp. Class C Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history