Operating Income for Agree Realty (ADC)
According to Agree Realty's latest reported financial statements, the company's current operating income (TTM) is $360.25M USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
ADC
Currently viewingRevenueSwitch metric
TTM (last 4 quarters)
$360.25M
YoY change
+12.6%
5Y CAGR
+20.7%
Peak year (2025)
$340.39M
Cumulative operating income
$2.14B
Operating Income history chart for Agree Realty (ADC) from 1994 to 2025
Operating Income history table for Agree Realty (ADC) from 1994 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | $340.39M | +12.6% | ||
| 2024 | $302.24M | +18.8% | ||
| 2023 | $254.39M | +16.6% | ||
| 2022 | $218.09M | +14.6% | ||
| 2021 | $190.27M | +42.9% | ||
| 2020 | $133.13M | +16.4% | ||
| 2019 | $114.39M | +56.7% | ||
| 2018 | $73.01M | +16.0% | ||
| 2017 | $62.96M | +21.9% | ||
| 2016 | $51.66M | +28.8% | ||
| 2015 | $40.11M | +43.8% | ||
| 2014 | $27.89M | +9.7% | ||
| 2013 | $25.42M | +31.2% | ||
| 2012 | $19.37M | +26.4% | ||
| 2011 | $15.33M | +74.1% | ||
| 2010 | $8.81M | -57.2% | ||
| 2009 | $20.59M | -4.0% | ||
| 2008 | $21.46M | +3.8% | ||
| 2007 | $20.68M | +4.3% | ||
| 2006 | $19.82M | +8.9% | ||
| 2005 | $18.21M | +3.3% | ||
| 2004 | $17.62M | +17.5% | ||
| 2003 | $14.99M | -4.0% | ||
| 2002 | $15.62M | +3.4% | ||
| 2001 | $15.10M | +2.7% | ||
| 2000 | $14.71M | +8.5% | ||
| 1999 | $13.56M | +9.5% | ||
| 1998 | $12.38M | +7.1% | ||
| 1997 | $11.56M | +14.7% | ||
| 1996 | $10.08M | -45.2% | ||
| 1995 | $18.40M | +41.5% | ||
| 1994 | $13.00M | — |
Operating Income values are taken from Agree Realty's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
As of the 2025 fiscal year, Agree Realty (ADC) reported operating income of $340.39M – grew 12.6% year-over-year.
Across 2020–2025 (5 years), Agree Realty operating income produced a CAGR of +20.7% – sustaining 15 straight years of year-over-year growth.
2025 marks the peak operating income at $340.39M, with the historical low of $8.81M recorded in 2010.
Among 8 Real Estate peers, Agree Realty (ADC) ranks 9th; the peer median for operating income is $2.05B.
Agree Realty Operating Income by Year
Agree Realty Operating Income 2025: $340.39M
Agree Realty operating income in 2025 was $340.39M, grew 12.6% from 2024. This figure represents the highest annual value in the available history.
Agree Realty Operating Income 2024: $302.24M
Agree Realty operating income in 2024 was $302.24M, grew 18.8% from 2023.
Agree Realty Operating Income 2023: $254.39M
Agree Realty operating income in 2023 was $254.39M, grew 16.6% from 2022.
Agree Realty Operating Income 2022: $218.09M
Agree Realty operating income in 2022 was $218.09M, grew 14.6% from 2021.
Agree Realty Operating Income 2021: $190.27M
Agree Realty operating income in 2021 was $190.27M.
See more financial history for Agree Realty (ADC).
Sector peers — Operating Income
Companies in the same sector as Agree Realty, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| American Tower Corporation (AMT) | $4.88B | Real Estate |
| Prologis, Inc. (PLD) | $3.54B | Real Estate |
| Simon Property Group, Inc. (SPG) | $3.18B | Real Estate |
| Public Storage (PSA) | $2.25B | Real Estate |
| Equinix, Inc. (EQIX) | $1.85B | Real Estate |
| Realty Income Corporation (O) | $1.63B | Real Estate |
| Digital Realty Trust, Inc. (DLR) | $658.49M | Real Estate |
| Welltower Inc. (WELL) | $355.17M | Real Estate |
Frequently asked questions
What is Agree Realty's operating income?
- Latest reported operating income for Agree Realty (ADC) is $360.25M (period ending March 31, 2026).
How has Agree Realty operating income changed year-over-year?
- Agree Realty (ADC) operating income changed +12.6% year-over-year on the latest annual filing.
What is the long-term growth rate of Agree Realty operating income?
- Agree Realty (ADC) operating income compound annual growth rate is +20.7% over the most recent 5 years available.
When did Agree Realty operating income hit its highest annual value?
- Agree Realty operating income reached its highest annual value of $340.39M in 2025.
What was Agree Realty operating income in 2024?
- Agree Realty (ADC) operating income in 2024 was $302.24M.
What was Agree Realty operating income in 2025?
- Agree Realty (ADC) operating income in 2025 was $340.39M.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
Explore more
ADC Overview
Company profile, financial tools, and key metrics
ADC Revenue Counter
Earns $23.78 every second. See per minute, hour, and day.
ADC Earnings Counter
Earns $6.96 per second net profit. See per minute, hour, and day.
ADC Economic Scale
Exceeds Dominica's GDP. Compare with world economies.
ADC What If Invested
What if you had invested $1,000? See historical returns from any date.
ADC How It Makes Money
Discover visual breakdown of $750.04M in revenue — where it comes from and where it goes.
ADC Stock Seasonality
Best and worst months to invest. Historical monthly returns heatmap.
ADC Price Target Scenarios
Model bear, base, and bull cases with EPS growth and exit P/E — pre-filled from analysts and history.
ADC Daily Price Character
Steady · 49.1% historical win rate (green days). Streaks & record days.
ADC Buybacks
0.07% TTM buyback yield. Shareholder yield & SBC comparison.
ADC Dividend Profile
Yield: 4.07%. Safety: 4/8. See full history.
ADC Dividend Calculator
How much dividend income would $1,000 have earned? Calculate from any date.
ADC Dividend Forecast
Project future income with DRIP, growth assumptions, and optional monthly contributions.