Agree Realty Corporation (ADC)

ADC Cash Flow Statement

Operating, investing, and financing cash flow analysis

ADC Quarterly Cash Flow Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Cash from Operations (CFO)	522.635M	145.156M	111.315M	146.519M	119.645M	126.657M	91.397M	128.613M	112.812M
Net Income	219.583M	62.231M	56.037M	52.117M	49.198M	46.996M	45.239M	44.375M	54.724M
Depreciation & Amortization	278.120M	66.699M	73.423M	70.523M	67.475M	64.301M	64.916M	59.798M	58.751M
Stock-Based Compensation	13.396M	3.534M	3.297M	3.306M	3.259M	3.129M	2.812M	2.780M	2.788M
Change in Accounts Receivable	477.813M	129.617M	122.477M	117.602M	108.117M	105.485M	106.416M	98.205M	94.853M
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	-5.475M	5.014M	-18.461M	21.413M	-13.441M	10.833M	-19.979M	22.040M	1.271M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-412.335M	-412.335M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-6.153M	-6.058M	-25K	-61K	-9K	-3.645M	-19K	-72K	-7K
Dividends Paid	-361.146M	-96.789M	-91.321M	-87.020M	-86.016M	-83.732M	-80.122M	-77.328M	-77.027M
Free Cash Flow (FCF)	110.300M	-267.179M	111.315M	146.519M	119.645M	126.657M	91.397M	128.613M	112.812M
Net Change in Cash	20.036M	10.583M	3.744M	7.967M	-2.258M	4.770M	-6.838M	-11.017M	8.820M

ADC Annual Cash Flow Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Cash from Operations (CFO)	504.136M	431.972M	391.598M	362.121M	246.315M	142.956M	126.707M	93.247M
Net Income	204.349M	189.197M	169.959M	152.437M	122.273M	91.381M	80.081M	58.172M
Depreciation & Amortization	275.722M	240.223M	209.373M	166.907M	120.013M	82.643M	59.204M	43.698M
Stock-Based Compensation	12.991M	10.805M	8.338M	6.464M	5.467M	4.995M	4.106M	2.948M
Change in Accounts Receivable	122.477M	106.416M	82.954M	65.841M	53.442M	37.808M	26.808M	21.547M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	344K	-2.638M	5.419M	20.738M	-8.708M	-11.270M	-7.615M	-4.391M
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-3.740M	-2.281M	-2.684M	-1.912M	-1.813M	-1.641M	-1.406M	-1.145M
Dividends Paid	-348.089M	-311.041M	-285.113M	-227.742M	-195.825M	-116.112M	-90.257M	-67.638M
Free Cash Flow (FCF)	504.136M	431.972M	391.598M	362.121M	246.315M	142.956M	126.707M	93.247M
Net Change in Cash	14.223M	-8.125M	-14.385M	-16.341M	37.295M	-34.202M	-11.818M	-4.807M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Agree Realty Corporation

Agree Realty Corporation functions as a publicly traded Real Estate Investment Trust (REIT), concentrating its efforts on the acquisition and development of commercial properties. These assets are primarily net-leased to leading companies within the retail sector. As of September 30, 2020, the firm oversaw a substantial portfolio of 1,027 properties, which were distributed across 45 U.S. states and encompassed a total gross leasable area of approximately 21.0 million square feet. Shares of Agree Realty's common stock are available for trade on the New York Stock Exchange, identified by the ticker symbol ADC.

Royal Oak, MI

75 employees

www.agreerealty.com

Real Estate / REIT - Retail

Sector: Real Estate
Industry: REIT - Retail
CEO: Joel N. Agree

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