Agree Realty Corporation Net Assets
Agree Realty Corporation net assets. Based on the latest financial reports, Agree Realty Corporation (ADC) has net assets worth $6.23 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.18 Billion) and total liabilities ($3.95 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. See debt-free asset ratio of Agree Realty Corporation to measure how much of total assets are equity-financed.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $6.23 Billion |
| % of Total Assets | 61.24% |
| Annual Growth Rate | 18.41% |
| 5-Year Change | 83.4% |
| 10-Year Change | 814.82% |
| Growth Volatility | 25.0 |
Net Assets of Agree Realty Corporation (1994–2025)
Net assets of Agree Realty Corporation from 1994 to 2025. This chart illustrates how Agree Realty Corporation's net assets have evolved over time, based on quarterly financial data. Also explore Agree Realty Corporation annual equity growth to track the company's year-over-year net asset growth rate.
Annual Net Assets for Agree Realty Corporation (1994–2025)
The table below shows the annual net assets of Agree Realty Corporation from 1994 to 2025. For live market cap and overall valuation, see Agree Realty Corporation market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $6.27 Billion | +13.80% |
| 2024-12-31 | $5.51 Billion | +5.97% |
| 2023-12-31 | $5.20 Billion | +12.30% |
| 2022-12-31 | $4.63 Billion | +35.42% |
| 2021-12-31 | $3.42 Billion | +35.35% |
| 2020-12-31 | $2.53 Billion | +49.34% |
| 2019-12-31 | $1.69 Billion | +36.58% |
| 2018-12-31 | $1.24 Billion | +35.92% |
| 2017-12-31 | $911.19 Million | +32.92% |
| 2016-12-31 | $685.51 Million | +51.12% |
| 2015-12-31 | $453.62 Million | +27.41% |
| 2014-12-31 | $356.04 Million | +21.84% |
| 2013-12-31 | $292.22 Million | +47.61% |
| 2012-12-31 | $197.97 Million | +22.03% |
| 2011-12-31 | $162.22 Million | -2.94% |
| 2010-12-31 | $167.13 Million | +19.53% |
| 2009-12-31 | $139.83 Million | +1.34% |
| 2008-12-31 | $137.98 Million | +0.34% |
| 2007-12-31 | $137.51 Million | +0.89% |
| 2006-12-31 | $136.30 Million | -0.23% |
| 2005-12-31 | $136.61 Million | +31.98% |
| 2004-12-31 | $103.51 Million | +1.47% |
| 2003-12-31 | $102.01 Million | +74.64% |
| 2002-12-31 | $58.41 Million | +1.88% |
| 2001-12-31 | $57.33 Million | +0.34% |
| 2000-12-31 | $57.13 Million | -1.31% |
| 1999-12-31 | $57.89 Million | -2.66% |
| 1998-12-31 | $59.47 Million | -1.89% |
| 1997-12-31 | $60.62 Million | +99.98% |
| 1996-12-31 | $30.31 Million | -3.47% |
| 1995-12-31 | $31.40 Million | -5.71% |
| 1994-12-31 | $33.30 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Agree Realty Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 61557500000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Agree Realty Corporation Net Assets Breakdown (December 2025)
Agree Realty Corporation net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $12.00K | 0.00% |
| Other Comprehensive Income | $35.51 Million | 0.57% |
| Other Components | $6.85 Billion | 109.30% |
| Total Equity | $6.27 Billion | 100.00% |
Agree Realty Corporation Competitors by Market Cap
The table below lists competitors of Agree Realty Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Equinox Gold Corp
TO:EQX
|
$8.12 Billion |
|
360 Security Technology Inc
SHG:601360
|
$8.13 Billion |
|
Commerce Bancshares Inc
NASDAQ:CBSH
|
$8.14 Billion |
|
Brown-Forman Corporation
NYSE:BF-B
|
$8.14 Billion |
|
NEW ORIENT.EDU.+TE.ADR/10
F:N1UA
|
$8.11 Billion |
|
Compania de Minas Buenaventura SAA ADR
NYSE:BVN
|
$8.11 Billion |
|
Wayfair Inc
NYSE:W
|
$8.10 Billion |
|
Equatorial Energia S.A
SA:EQTL3
|
$8.10 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Agree Realty Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 5,510,046,000 to 6,270,985,000, a change of 760,939,000 (13.8%).
- Net income of 204,349,000 contributed positively to equity growth.
- Dividend payments of 348,089,000 reduced retained earnings.
- Share repurchases of 3,740,000 reduced equity.
- New share issuances of 904,311,000 increased equity.
- Other comprehensive income decreased equity by 4,570,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $204.35 Million | +3.26% |
| Dividends Paid | $348.09 Million | -5.55% |
| Share Repurchases | $3.74 Million | -0.06% |
| Share Issuances | $904.31 Million | +14.42% |
| Other Comprehensive Income | $-4.57 Million | -0.07% |
| Other Changes | $8.68 Million | +0.14% |
| Total Change | $- | 13.81% |
Book Value vs Market Value Analysis
This analysis compares Agree Realty Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.20x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 8.11x to 1.20x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $8.34 | $67.61 | x |
| 1995-12-31 | $9.72 | $67.61 | x |
| 1996-12-31 | $9.23 | $67.61 | x |
| 1997-12-31 | $14.90 | $67.61 | x |
| 1998-12-31 | $12.26 | $67.61 | x |
| 1999-12-31 | $11.94 | $67.61 | x |
| 2000-12-31 | $11.66 | $67.61 | x |
| 2001-12-31 | $11.69 | $67.61 | x |
| 2002-12-31 | $11.82 | $67.61 | x |
| 2003-12-31 | $18.28 | $67.61 | x |
| 2004-12-31 | $15.10 | $67.61 | x |
| 2005-12-31 | $17.42 | $67.61 | x |
| 2006-12-31 | $17.08 | $67.61 | x |
| 2007-12-31 | $17.06 | $67.61 | x |
| 2008-12-31 | $15.84 | $67.61 | x |
| 2009-12-31 | $16.25 | $67.61 | x |
| 2010-12-31 | $16.83 | $67.61 | x |
| 2011-12-31 | $16.76 | $67.61 | x |
| 2012-12-31 | $17.78 | $67.61 | x |
| 2013-12-31 | $22.21 | $67.61 | x |
| 2014-12-31 | $23.79 | $67.61 | x |
| 2015-12-31 | $25.11 | $67.61 | x |
| 2016-12-31 | $29.86 | $67.61 | x |
| 2017-12-31 | $32.89 | $67.61 | x |
| 2018-12-31 | $38.22 | $67.61 | x |
| 2019-12-31 | $40.98 | $67.61 | x |
| 2020-12-31 | $48.18 | $67.61 | x |
| 2021-12-31 | $50.90 | $67.61 | x |
| 2022-12-31 | $58.49 | $67.61 | x |
| 2023-12-31 | $54.48 | $67.61 | x |
| 2024-12-31 | $54.09 | $67.61 | x |
| 2025-12-31 | $56.39 | $67.61 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Agree Realty Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.26%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.45%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 1.56x
- Recent ROE (3.26%) is below the historical average (8.76%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 1.12% | 3.16% | 0.11x | 3.35x | $-2.38 Million |
| 1995 | 12.65% | 23.19% | 0.13x | 4.30x | $670.00K |
| 1996 | 15.28% | 22.92% | 0.13x | 4.97x | $1.29 Million |
| 1997 | 9.50% | 28.37% | 0.14x | 2.37x | $-276.38K |
| 1998 | 11.39% | 30.74% | 0.13x | 2.80x | $744.17K |
| 1999 | 13.08% | 31.08% | 0.14x | 3.04x | $1.60 Million |
| 2000 | 13.80% | 31.47% | 0.14x | 3.23x | $1.96 Million |
| 2001 | 15.62% | 36.35% | 0.13x | 3.24x | $2.90 Million |
| 2002 | 16.67% | 38.04% | 0.13x | 3.39x | $3.51 Million |
| 2003 | 10.89% | 39.93% | 0.14x | 1.99x | $853.00K |
| 2004 | 13.44% | 45.35% | 0.13x | 2.21x | $3.36 Million |
| 2005 | 12.29% | 50.82% | 0.14x | 1.71x | $2.98 Million |
| 2006 | 10.71% | 42.46% | 0.15x | 1.71x | $932.31K |
| 2007 | 11.76% | 44.92% | 0.14x | 1.82x | $2.32 Million |
| 2008 | 11.32% | 42.12% | 0.14x | 1.98x | $1.75 Million |
| 2009 | 13.16% | 52.31% | 0.13x | 1.91x | $4.32 Million |
| 2010 | 9.17% | 54.94% | 0.10x | 1.74x | $-1.36 Million |
| 2011 | 5.89% | 31.56% | 0.10x | 1.81x | $-6.67 Million |
| 2012 | 9.12% | 52.13% | 0.09x | 1.87x | $-1.75 Million |
| 2013 | 6.73% | 45.21% | 0.09x | 1.58x | $-9.55 Million |
| 2014 | 5.19% | 34.52% | 0.09x | 1.67x | $-17.12 Million |
| 2015 | 8.60% | 55.77% | 0.09x | 1.75x | $-6.34 Million |
| 2016 | 6.58% | 49.29% | 0.08x | 1.62x | $-23.43 Million |
| 2017 | 6.38% | 52.11% | 0.07x | 1.64x | $-33.01 Million |
| 2018 | 4.70% | 42.42% | 0.07x | 1.64x | $-65.68 Million |
| 2019 | 4.74% | 42.71% | 0.07x | 1.58x | $-88.85 Million |
| 2020 | 3.62% | 36.76% | 0.06x | 1.54x | $-161.07 Million |
| 2021 | 3.58% | 36.03% | 0.06x | 1.53x | $-219.50 Million |
| 2022 | 3.29% | 35.47% | 0.06x | 1.45x | $-310.60 Million |
| 2023 | 3.27% | 31.62% | 0.07x | 1.50x | $-349.96 Million |
| 2024 | 3.43% | 30.66% | 0.07x | 1.54x | $-361.81 Million |
| 2025 | 3.26% | 28.45% | 0.07x | 1.56x | $-422.75 Million |
Industry Comparison
This section compares Agree Realty Corporation's net assets metrics with peer companies in the REIT - Retail industry.
Industry Context
- Industry: REIT - Retail
- Average net assets among peers: $654,590,778
- Average return on equity (ROE) among peers: 4.54%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Agree Realty Corporation (ADC) | $6.23 Billion | 1.12% | 0.63x | $8.12 Billion |
| Acadia Realty Trust (AKR) | $83.00 Million | 4.58% | 2.01x | $2.62 Billion |
| Alexander & Baldwin Holdings Inc (ALEX) | $1.04 Billion | -4.89% | 0.73x | $1.52 Billion |
| Alexanders Inc (ALX) | $236.50 Million | 24.37% | 4.91x | $1.26 Billion |
| Saul Centers Inc (BFS) | $339.26 Million | 13.84% | 2.73x | $720.61 Million |
| Brixmor Property (BRX) | $2.28 Billion | -5.38% | 3.22x | $8.31 Billion |
| CBL & Associates Properties Inc (CBL) | $434.82 Million | 0.00% | 3.46x | $993.50 Million |
| Curbline Properties Corp. (CURB) | $862.64 Million | 3.60% | 0.07x | $3.31 Billion |
| Essential Properties Realty Trust Inc (EPRT) | $181.40 Million | 3.47% | 4.19x | $5.78 Billion |
| Four Corners Property Trust Inc (FCPT) | $441.64 Million | 1.29% | 1.10x | $2.45 Billion |
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2025, the Company owned and operated a portfolio of 2,674 properties, located in all 50 states and containing approximately 55.5 million square feet of gross l… Read more