# Agree Realty Corp: financial statements, quarterly

ADC · NYSE · CIK 917251 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/adc.md) · [Financials](/companies/adc/financials.md) · [Filings](/companies/adc/filings.md) · [Insiders](/companies/adc/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/adc/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [144 d](/filings/0000917251-26-000013.md) | [149](/filings/0001558370-25-005142.md) | [153](/filings/0001558370-25-009887.md) | [154](/filings/0001104659-25-101233.md) | [161 d](/filings/0000917251-26-000013.md) | [169](/filings/0000917251-26-000047.md) | [176](/filings/0000917251-26-000063.md) | [183](/filings/0000917251-26-000076.md) | [190 d](/filings/0000917251-26-000013.md) | [201](/filings/0000917251-26-000047.md) | [205](/filings/0000917251-26-000063.md) | [214](/filings/0000917251-26-000076.md) |
| Operating income | $m | [69.2 d](/filings/0000917251-26-000013.md) | [70.5](/filings/0001558370-25-005142.md) | [82.0](/filings/0001558370-25-009887.md) | [74.4](/filings/0001104659-25-101233.md) | [75.3 d](/filings/0000917251-26-000013.md) | [78.7](/filings/0000917251-26-000047.md) | [82.0](/filings/0000917251-26-000063.md) | [87.3](/filings/0000917251-26-000076.md) | [92.4 d](/filings/0000917251-26-000013.md) | [98.6](/filings/0000917251-26-000047.md) | [95.3](/filings/0000917251-26-000063.md) | [110](/filings/0000917251-26-000076.md) |
| Interest expense | $m | [22.4 d](/filings/0001558370-24-001056.md) | [24.5](/filings/0001558370-24-005482.md) | [26.4](/filings/0001558370-25-009887.md) | [28.9](/filings/0001104659-25-101233.md) | [29.1 d](/filings/0000917251-26-000013.md) | [30.8](/filings/0000917251-26-000047.md) | [32.3](/filings/0000917251-26-000063.md) | [35.2](/filings/0000917251-26-000076.md) | [36.4 d](/filings/0000917251-26-000013.md) | [36.0](/filings/0000917251-26-000047.md) | [40.3](/filings/0000917251-26-000063.md) | [41.0](/filings/0000917251-26-000076.md) |
| Income tax | $m | [0.7 d](/filings/0000917251-26-000013.md) | [1.1](/filings/0001558370-25-005142.md) | [1.0](/filings/0001558370-25-009887.md) | [1.1](/filings/0001104659-25-101233.md) | [1.1 d](/filings/0000917251-26-000013.md) | [0.8](/filings/0000917251-26-000047.md) | [0.4](/filings/0000917251-26-000063.md) | [0.2](/filings/0000917251-26-000076.md) | [0.3 d](/filings/0000917251-26-000013.md) | [0.5](/filings/0000917251-26-000047.md) | [0.4](/filings/0000917251-26-000063.md) | [0.4](/filings/0000917251-26-000076.md) |
| Net income | $m | [46.0 d](/filings/0000917251-26-000013.md) | [44.9](/filings/0001558370-25-005142.md) | [54.7](/filings/0001558370-25-009887.md) | [44.4](/filings/0001104659-25-101233.md) | [45.2 d](/filings/0000917251-26-000013.md) | [47.0](/filings/0000917251-26-000047.md) | [49.2](/filings/0000917251-26-000063.md) | [52.1](/filings/0000917251-26-000076.md) | [56.0 d](/filings/0000917251-26-000013.md) | [62.1](/filings/0000917251-26-000047.md) | [54.7](/filings/0000917251-26-000063.md) | [68.4](/filings/0000917251-26-000076.md) |
| Diluted EPS | $ per share | not reported | [0.43](/filings/0001558370-25-005142.md) | [0.52](/filings/0001558370-25-009887.md) | [0.42](/filings/0001104659-25-101233.md) | not reported | [0.42](/filings/0000917251-26-000047.md) | [0.43](/filings/0000917251-26-000063.md) | [0.45](/filings/0000917251-26-000076.md) | not reported | [0.50](/filings/0000917251-26-000047.md) | [0.44](/filings/0000917251-26-000063.md) | [0.53](/filings/0000917251-26-000076.md) |
| Basic EPS | $ per share | not reported | [0.43](/filings/0001558370-25-005142.md) | [0.53](/filings/0001558370-25-009887.md) | [0.42](/filings/0001104659-25-101233.md) | not reported | [0.42](/filings/0000917251-26-000047.md) | [0.43](/filings/0000917251-26-000063.md) | [0.45](/filings/0000917251-26-000076.md) | not reported | [0.50](/filings/0000917251-26-000047.md) | [0.44](/filings/0000917251-26-000063.md) | [0.53](/filings/0000917251-26-000076.md) |

- Revenue: us-gaap:Revenues
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [0.0](/filings/0001558370-25-000803.md) | [0.0](/filings/0001558370-24-005482.md) | [0.0](/filings/0001558370-24-009974.md) | [0.0](/filings/0001558370-24-013452.md) | [0.0](/filings/0000917251-26-000013.md) | [0.0](/filings/0001558370-25-005142.md) | [0.0](/filings/0001558370-25-009887.md) | [0.0](/filings/0001104659-25-101233.md) | [0.0](/filings/0000917251-26-000076.md) | [0.0](/filings/0000917251-26-000047.md) | [0.0](/filings/0000917251-26-000063.md) | [0.1](/filings/0000917251-26-000076.md) |
| Total assets | $bn | [7.8](/filings/0001558370-25-000803.md) | [7.9](/filings/0001558370-24-005482.md) | [8.0](/filings/0001558370-24-009974.md) | [8.2](/filings/0001558370-24-013452.md) | [8.5](/filings/0000917251-26-000013.md) | [8.8](/filings/0001558370-25-005142.md) | [9.1](/filings/0001558370-25-009887.md) | [9.5](/filings/0001104659-25-101233.md) | [9.8](/filings/0000917251-26-000076.md) | [10.2](/filings/0000917251-26-000047.md) | [10.6](/filings/0000917251-26-000063.md) | [11.0](/filings/0000917251-26-000076.md) |
| Total liabilities | $bn | [2.6](/filings/0001558370-25-000803.md) | [2.7](/filings/0001558370-24-005482.md) | [2.8](/filings/0001558370-24-009974.md) | [2.9](/filings/0001558370-24-013452.md) | [3.0](/filings/0000917251-26-000013.md) | [3.2](/filings/0001558370-25-005142.md) | [3.4](/filings/0001558370-25-009887.md) | [3.6](/filings/0001104659-25-101233.md) | [3.5](/filings/0000917251-26-000076.md) | [3.9](/filings/0000917251-26-000047.md) | [4.1](/filings/0000917251-26-000063.md) | [4.0](/filings/0000917251-26-000076.md) |
| Long-term debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Short-term borrowings | $bn | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001558370-25-005142.md) | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [5.2](/filings/0001558370-25-000803.md) | [5.2](/filings/0001558370-24-005482.md) | [5.2](/filings/0001558370-24-009974.md) | [5.3](/filings/0001558370-24-013452.md) | [5.5](/filings/0000917251-26-000013.md) | [5.6](/filings/0001558370-25-005142.md) | [5.7](/filings/0001558370-25-009887.md) | [5.9](/filings/0001104659-25-101233.md) | [6.3](/filings/0000917251-26-000076.md) | [6.2](/filings/0000917251-26-000047.md) | [6.5](/filings/0000917251-26-000063.md) | [6.9](/filings/0000917251-26-000076.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Total assets: us-gaap:Assets
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Short-term borrowings: us-gaap:CommercialPaper
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [98.0 d](/filings/0000917251-26-000013.md) | [99.2](/filings/0001558370-25-005142.md) | [113 d](/filings/0001558370-25-009887.md) | [129 d](/filings/0001104659-25-101233.md) | [91.4 d](/filings/0000917251-26-000013.md) | [127](/filings/0000917251-26-000047.md) | [120 d](/filings/0000917251-26-000063.md) | [147 d](/filings/0000917251-26-000076.md) | [111 d](/filings/0000917251-26-000013.md) | [145](/filings/0000917251-26-000047.md) | [131 d](/filings/0000917251-26-000063.md) | [185 d](/filings/0000917251-26-000076.md) |
| Capital expenditure | $m | [190 d](/filings/0001558370-25-000803.md) | [128](/filings/0001558370-24-005482.md) | [188](/filings/0001558370-24-009974.md) | [216](/filings/0001558370-24-013452.md) | [343 d](/filings/0001558370-25-000803.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Dividends paid | $m | [74.1 d](/filings/0000917251-26-000013.md) | [74.7](/filings/0001558370-25-005142.md) | [75.2 d](/filings/0001558370-25-009887.md) | [75.5 d](/filings/0001104659-25-101233.md) | [78.3 d](/filings/0000917251-26-000013.md) | [81.9](/filings/0000917251-26-000047.md) | [84.2 d](/filings/0000917251-26-000063.md) | [85.2 d](/filings/0000917251-26-000076.md) | [89.5 d](/filings/0000917251-26-000013.md) | [94.9](/filings/0000917251-26-000047.md) | [95.6 d](/filings/0000917251-26-000063.md) | [99.6 d](/filings/0000917251-26-000076.md) |
| Share repurchases | $m | [0.0 d](/filings/0000917251-26-000013.md) | [2.2](/filings/0001558370-25-005142.md) | [0.0 d](/filings/0001558370-25-009887.md) | [0.1 d](/filings/0001104659-25-101233.md) | [0.0 d](/filings/0000917251-26-000013.md) | [3.6](/filings/0000917251-26-000047.md) | [0.0 d](/filings/0000917251-26-000063.md) | [0.1 d](/filings/0000917251-26-000076.md) | [0.0 d](/filings/0000917251-26-000013.md) | [6.1](/filings/0000917251-26-000047.md) | [0.0 d](/filings/0000917251-26-000063.md) | [0.1 d](/filings/0000917251-26-000076.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [90.5](/filings/0001558370-24-005482.md) | [93.1](/filings/0001558370-24-009974.md) | [97.3](/filings/0001558370-24-013452.md) | [100](/filings/0001558370-25-005142.md) | [100](/filings/0001558370-25-009887.md) | [102](/filings/0001104659-25-101233.md) | [108](/filings/0000917251-26-000047.md) | [110](/filings/0000917251-26-000063.md) | [112](/filings/0000917251-26-000076.md) | [120](/filings/0000917251-26-000047.md) | [120](/filings/0000917251-26-000063.md) | [125](/filings/0000917251-26-000076.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 130,101,031 at 2026-10-19, from the cover of the [10-Q filed 2026-10-20](/filings/0000917251-26-000076.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:28 ET. No prices; not investment advice.