← AGREE REALTY CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $91.5m $116.6m $148.2m $187.5m $248.6m $339.3m $429.8m $537.5m $617.1m $718.4m
Revenues:
Revenue from Contract with Customer, Including Assessed Tax — — — $187.3m $248.3m $339.1m $429.6m $537.4m $616.8m $718.2m
Revenue Not from Contract with Customer, Other — — — $199k $259k $256k $182k $92k $273k $235k
Operating expenses:
Operating Income (Loss) $51.5m $62.4m $73.0m $101.1m $125.1m $190.3m $218.1m $254.4m $302.2m $340.4m
Additional Financial Items
Operating Lease, Lease Income — — — $193.8m $257.4m $352.8m $450.4m $558.2m $637.8m $737.6m
Gains (Losses) on Sales of Investment Real Estate $10.0m $14.2m $11.2m $13.3m $8.0m $14.9m $5.3m $1.8m $11.5m $5.4m
Income (Loss) from Continuing Operations, Per Basic Share $2 — — — — — — — — —
Income (Loss) from Continuing Operations, Per Diluted Share $2 — — — — — — — — —
Other Income $32k $485k $233k — — — — — — —
Preferred Stock Dividends, Income Statement Impact — — — — — $2.1m $7.4m $7.4m $7.4m $7.4m
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent — — — — — $13.4m — — — —
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax $0 — — — — — — — — —
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $45.8m — — — — — — — — —
Net Income (Loss) Attributable to Parent $45.1m $58.1m $58.2m $80.1m $91.4m $122.3m $152.4m $170.0m $189.2m $204.3m
Net Income (Loss) Available to Common Stockholders, Basic — — $57.8m $79.7m $91.1m $120.1m $145.0m $162.5m $181.8m $196.9m
Net Income (Loss) Attributable to Noncontrolling Interest $679k $678k $626k $682k $591k $603k $598k $588k $635k $640k
Earnings Per Share, Basic $1.97 $2.09 $1.80 $1.96 $1.76 $1.79 $1.84 $1.70 $1.79 $1.77
Earnings Per Share, Diluted $1.97 $2.08 $1.78 $1.93 $1.74 $1.78 $1.83 $1.70 $1.78 $1.77
Common Stock, Dividends, Per Share, Declared — — — — — — — $2.92 $3.00 $3.08
Weighted Average Number of Shares Outstanding, Basic 22.9m 27.6m 32.1m 40.6m 51.8m 66.8m 78.7m 95.2m 101.1m 110.7m
Weighted Average Number of Shares Outstanding, Diluted 23.0m 27.7m 32.4m 41.2m 52.4m 67.1m 79.2m 95.4m 101.9m 111.2m
General and Administrative Expense $8.0m $9.9m $12.2m $15.6m $20.8m $25.5m $30.1m $34.8m $37.2m $44.1m
Other Nonoperating Income (Expense) — — $4k — $23k $0 $1.2m $189k $799k $941k
Interest Expense (non-operating) — — — — — — — — $108.9m $134.6m
Current Income Tax Expense (Benefit) $8k $227k $516k — — — — — — —
Direct Costs of Leased and Rented Property or Equipment $2.5m $3.6m $5.6m — — — — — — —
Interest Expense $15.3m $18.1m $24.9m $33.1m $40.1m $50.4m $63.4m $81.1m — —
Operating Lease, Expense — — — $1.2m $1.3m $1.6m $1.6m $1.7m $1.6m $2.1m
Real Estate Tax Expense $5.5m $8.2m $10.7m $15.5m $21.4m $25.5m $32.1m $40.1m $46.9m $52.2m
Income Tax Expense (Benefit) — — $516k $538k $1.1m $2.4m $2.9m $2.9m $4.3m $1.7m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.