NYSE : AGM
Federal Agricultural Mortgage Corporation — Financial statements
Financials · Credit Services · United States
Last price 202.16 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 2.19B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 1.70B | 1.61B | 1.60B | 1.39B | 716.85M | 425.96M |
| Total Interest Expense | 1.27B | 1.22B | 1.25B | 1.07B | 440.51M | 202.90M |
| Net Interest Income | 423.37M | 387.51M | 354.91M | 327.10M | 276.33M | 223.07M |
| Gain (Loss) on Sale of Loans & Receivables | 6.54M | |||||
| Gain (Loss) on Sale of Investments | 11.00K | 11.00K | 15.00K | 6.00K | 222.00K | |
| Other Revenue | 20.09M | 17.68M | 17.33M | 20.04M | 30.28M | 12.17M |
| Revenue Before Loan Losses | 443.48M | 405.20M | 372.26M | 347.14M | 306.62M | 242.00M |
| Provision for Loan Losses | 34.79M | 32.86M | 11.58M | 858.00K | 1.32M | -860.00K |
| Revenue | 408.69M | 372.34M | 360.68M | 346.28M | 305.29M | 242.86M |
| Salaries & Employee Benefits | 80.91M | 71.33M | 63.98M | 58.91M | 48.77M | 42.85M |
| Cost of Services Provided | 49.44M | 48.48M | 41.41M | 38.19M | 33.04M | 30.57M |
| Other Operating Expenses | -2.08M | -3.17M | -2.81M | -3.92M | -2.19M | -3.02M |
| Total Operating Expenses | 128.26M | 116.63M | 102.57M | 93.18M | 79.61M | 70.39M |
| Operating Income | 280.43M | 255.71M | 258.10M | 253.10M | 225.68M | 172.46M |
| EBT Excluding Unusual Items | 280.43M | 255.71M | 258.10M | 253.10M | 225.68M | 172.46M |
| Pretax Income | 280.43M | 255.71M | 258.10M | 253.10M | 225.68M | 172.46M |
| Income Tax Expense | 51.42M | 48.30M | 50.91M | 53.10M | 47.53M | 36.37M |
| Earnings From Continuing Ops. | 229.00M | 207.41M | 207.19M | 200.00M | 178.14M | 136.09M |
| Net Income | 229.00M | 207.41M | 207.19M | 200.00M | 178.14M | 136.09M |
| Preferred Dividends & Other Adjustments | 28.95M | 24.92M | 26.77M | 27.16M | 27.16M | 24.68M |
| Net Income to Common | 200.05M | 182.49M | 180.43M | 172.84M | 150.98M | 111.41M |
| Shares Outstanding (Basic) | 10.88M | 10.91M | 10.87M | 10.83M | 10.79M | 10.76M |
| Shares Outstanding (Diluted) | 10.95M | 10.98M | 10.97M | 10.94M | 10.88M | 10.85M |
| EPS (Basic) | 18.39 | 16.73 | 16.59 | 15.96 | 13.99 | 10.36 |
| EPS (Diluted) | 18.27 | 16.62 | 16.44 | 15.81 | 13.87 | 10.27 |
| Free Cash Flow | 310.06M | 80.06M | 607.37M | 375.80M | 809.27M | 436.41M |
| Free Cash Flow Per Share | 28.32 | 7.29 | 55.34 | 34.36 | 74.36 | 40.24 |
| Dividend Per Share | 6.20 | 6.00 | 5.60 | 4.40 | 3.80 | 3.52 |
| Operating Margin | 68.62% | 68.68% | 71.56% | 73.09% | 73.92% | 71.01% |
| Profit Margin | 48.95% | 49.01% | 50.02% | 49.91% | 49.45% | 45.88% |
| Free Cash Flow Margin | 75.87% | 21.50% | 168.40% | 108.52% | 265.08% | 179.70% |
| Effective Tax Rate | 18.34% | 18.89% | 19.73% | 20.98% | 21.06% | 21.09% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.01B | 906.59M | 1.01B | 883.60M | 861.00M | 908.78M |
| Long-Term Investments | 19.43B | 17.55B | 16.58B | 17.08B | 15.67B | 14.68B |
| Trading Asset Securities | 42.41M | 44.88M | 27.79M | 38.72M | 39.18M | 10.48M |
| Loans & Lease Receivables | 18.18B | 16.32B | 13.20B | 11.04B | 10.21B | 9.25B |
| Other Receivables | 374.12M | 357.15M | 310.59M | 287.13M | 229.06M | 165.60M |
| Restricted Cash | 26.98M | 24.48M | 16.19M | 5.11M | ||
| Other Current Assets | 218.97M | 165.23M | 179.28M | 182.79M | 313.92M | 90.87M |
| Long-Term Deferred Tax Assets | 10.60M | 173.00K | 1.54M | 8.47M | 18.00M | 15.87M |
| Total Assets | 39.29B | 35.37B | 31.32B | 29.52B | 27.33B | 25.12B |
| Accounts Payable | 76.66M | 68.86M | 71.73M | |||
| Accrued Expenses | 268.43M | 233.71M | 195.11M | 181.84M | 117.89M | 59.00M |
| Short-Term Debt | 2.19B | 2.64B | 2.24B | 1.85B | 740.90M | 2.20B |
| Current Portion of Long-Term Debt | 10.80B | 8.66B | 8.27B | 6.35B | 7.47B | 4.82B |
| Long-Term Debt | 23.99B | 21.92B | 18.86B | 19.60B | 17.62B | 16.71B |
| Other Long-Term Liabilities | 186.59M | 207.87M | 262.48M | 49.27M | 48.02M | 45.88M |
| Total Liabilities | 37.44B | 33.65B | 29.84B | 28.11B | 26.06B | 23.91B |
| Common Stock | 10.85M | 10.86M | 10.89M | 10.84M | 10.80M | 10.77M |
| Additional Paid-In Capital | 140.84M | 139.37M | 135.89M | 132.92M | 128.94M | 125.99M |
| Retained Earnings | 1.12B | 1.05B | 943.24M | 823.72M | 698.53M | 588.56M |
| Comprehensive Income & Other | -18.23M | 13.38M | -12.15M | -40.15M | -50.84M | 3.85M |
| Total Common Equity | 1.25B | 1.21B | 1.08B | 927.33M | 787.43M | 729.17M |
| Shareholders' Equity | 1.85B | 1.72B | 1.49B | 1.41B | 1.27B | 1.21B |
| Total Liabilities & Equity | 39.29B | 35.37B | 31.32B | 29.52B | 27.33B | 25.12B |
| Total Debt | 36.98B | 33.21B | 29.38B | 27.80B | 25.83B | 23.73B |
| Net Cash (Debt) | -35.93B | -32.26B | -28.34B | -26.88B | -24.93B | -22.81B |
| Net Cash Per Share | -3,281.77 | -2,937.10 | -2,582.46 | -2,457.93 | -2,290.38 | -2,103.21 |
| Filing Date Shares Outstanding | 10.85M | 10.86M | 10.89M | 10.85M | 10.80M | 10.77M |
| Total Common Shares Outstanding | 10.85M | 10.86M | 10.89M | 10.84M | 10.80M | 10.77M |
| Working Capital | 6.60B | 6.29B | 4.04B | 3.97B | 3.25B | 3.27B |
| Book Value Per Share | 115.18 | 111.54 | 98.97 | 85.53 | 72.90 | 67.73 |
| Tangible Book Value | 1.25B | 1.21B | 1.08B | 927.33M | 787.43M | 729.17M |
| Tangible Book Value Per Share | 115.18 | 111.54 | 98.97 | 85.53 | 72.90 | 67.73 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 229.00M | 207.41M | 207.19M | 200.00M | 178.14M | 136.09M |
| Gain on Sale of Loans & Receivables | -20.84M | -21.55M | -23.88M | -17.02M | 720.00K | 10.78M |
| Loss (Gain) From Sale of Investments | 49.06M | -165.74M | 214.32M | 78.25M | 690.00M | 205.45M |
| Provision for Credit Losses | 35.71M | 32.91M | 11.49M | 1.14M | 806.00K | -2.19M |
| Stock-Based Compensation | 8.39M | 8.34M | 8.09M | 6.80M | 4.62M | 4.31M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 33.61M | 40.27M | 29.22M | 24.38M | 33.31M | 46.97M |
| Change in Accounts Payable | 57.82M | 38.60M | 13.27M | 63.95M | 58.88M | -9.53M |
| Change in Other Net Operating Assets | 68.14M | 42.92M | 192.37M | 43.61M | -125.60M | 34.65M |
| Other Operating Activities | -80.84M | -43.98M | -7.53M | 38.63M | 32.06M | 5.15M |
| Operating Cash Flow | 310.06M | 80.06M | 612.65M | 375.80M | 809.27M | 436.41M |
| Capital Expenditures | -5.27M | |||||
| Investment in Securities | -2.51B | -721.66M | 536.32M | -1.15B | -1.78B | -361.79M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -3.78B | -3.09B | -2.21B | -800.47M | -1.26B | -734.40M |
| Investing Cash Flow | -6.29B | -3.81B | -1.68B | -1.96B | -3.04B | -1.10B |
| Short-Term Debt Issued | 52.47B | 61.11B | ||||
| Long-Term Debt Issued | 90.67B | 68.87B | 57.79B | 9.29B | 11.17B | |
| Total Debt Issued | 97.29B | 90.67B | 68.87B | 57.79B | 61.76B | 72.29B |
| Short-Term Debt Repaid | -54.09B | -60.74B | ||||
| Long-Term Debt Repaid | -87.02B | -67.50B | -56.10B | -5.42B | -11.07B | |
| Total Debt Repaid | -91.37B | -87.02B | -67.50B | -56.10B | -59.50B | -71.81B |
| Net Debt Issued (Repaid) | 5.91B | 3.65B | 1.37B | 1.68B | 2.26B | 475.80M |
| Issuance of Preferred Stock | 193.61M | 96.84M | 121.33M | |||
| Preferred Share Repurchases | -75.00M | |||||
| Issuance of Common Stock | 250.00K | 288.00K | 287.00K | 233.00K | 192.00K | 117.00K |
| Repurchase of Common Stock | -24.02M | -18.00M | -5.35M | -3.01M | -1.83M | -1.30M |
| Common Dividends Paid | -60.91M | -47.65M | -41.01M | |||
| Preferred Dividends Paid | -25.15M | -27.16M | -27.16M | |||
| Total Dividends Paid | -89.04M | -86.05M | -74.82M | -68.17M | -61.31M | |
| Other Financing Activities | -94.24M | |||||
| Financing Cash Flow | 5.99B | 3.64B | 1.21B | 1.61B | 2.19B | 534.63M |
| Net Cash Flow | 7.76M | -92.94M | 135.30M | 27.70M | -47.78M | -125.16M |
| Free Cash Flow | 310.06M | 80.06M | 607.37M | 375.80M | 809.27M | 436.41M |
| Free Cash Flow Margin | 75.87% | 21.50% | 168.40% | 108.52% | 265.08% | 179.70% |
| Free Cash Flow Per Share | 28.32 | 7.29 | 55.34 | 34.36 | 74.36 | 40.24 |
| Cash Interest Paid | 910.56M | 910.56M | 819.96M | 582.96M | 269.33M | 198.59M |
| Cash Income Tax Paid | 39.20M | 48.00M | 33.80M | 36.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.27B | 1.87B | 2.09B | 2.04B | 1.20B | 1.33B |
| PE Ratio | 11.45 | 10.25 | 11.61 | 11.79 | 7.92 | 11.94 |
| PS Ratio | 5.46 | 5.02 | 5.81 | 5.88 | 3.92 | 5.48 |
| PB Ratio | 1.76 | 1.09 | 1.41 | 1.44 | 0.94 | 1.10 |
| P/FCF Ratio | 7.20 | 23.36 | 3.45 | 5.42 | 1.48 | 3.05 |
| P/OCF Ratio | 7.20 | 23.36 | 3.42 | 5.42 | 1.48 | 3.05 |
| Debt / Equity Ratio | 19.94 | 19.32 | 19.73 | 19.69 | 20.30 | 19.55 |
| Debt / FCF Ratio | 119.27 | 414.80 | 48.37 | 73.99 | 31.91 | 54.38 |
| Net Debt / Equity Ratio | 19.37 | 18.77 | 19.03 | 19.04 | 19.60 | 18.80 |
| Net Debt / FCF Ratio | 115.87 | 402.92 | 46.66 | 71.53 | 30.80 | 52.27 |
| Quick Ratio | 1.48 | 1.53 | 1.36 | 1.45 | 1.35 | 1.45 |
| Current Ratio | 1.50 | 1.55 | 1.38 | 1.47 | 1.39 | 1.46 |
| Asset Turnover | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Return on Equity (ROE) | 13.48% | 12.93% | 14.29% | 14.90% | 14.33% | 12.34% |
| Return on Assets (ROA) | 0.63% | 0.62% | 0.68% | 0.70% | 0.68% | 0.55% |
| Return on Invested Capital (ROIC) | 0.61% | 0.63% | 0.69% | 0.71% | 0.69% | 0.55% |
| Earnings Yield | 8.73% | 11.09% | 9.89% | 9.81% | 14.89% | 10.23% |
| FCF Yield | 13.90% | 4.28% | 29.00% | 18.44% | 67.65% | 32.81% |
| Dividend Yield | 3.06% | 3.48% | 2.91% | 2.34% | 3.43% | 2.85% |
| Payout Ratio | 35.03% | 42.93% | 41.53% | 37.41% | 38.27% | 45.05% |
| Buyback Yield / Dilution | 0.28% | -0.07% | -0.35% | -0.50% | -0.34% | -0.56% |
| Total Shareholder Return | 3.45% | 3.41% | 2.56% | 1.85% | 3.09% | 2.29% |