FEDERAL AGRICULTURAL MORTGAGE CORP
FEDERAL AGRICULTURAL MORTGAGE CORP
FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) — SEC Financial Statements & Analysis
FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debt Securities | - | - | -18 | 444 | 6,230 | 5,953 | 0 | 0 | 19 | 4,919 | 0 | 0 | |||||
U S Government Agencies Debt Securities | - | - | -0 | -0 | 1 | 1 | -0 | -0 | 1 | 1 | -0 | -0 | |||||
Cash And Cash Equivalents At Carrying Value | 774 | 931 | 901 | 1,030 | 1,048 | 1,024 | 842 | 923 | 745 | 889 | 782 | 874 | |||||
Debt Securities Available For Sale Excluding Accru… | 13,971 | 13,580 | - | - | - | 11,468 | - | - | - | - | - | - | |||||
Investments | |||||||||||||||||
Investments | 18,219 | 17,550 | - | - | - | 16,577 | - | - | - | - | - | - | |||||
Other Investments | 17 | 16 | - | - | - | 12 | - | - | - | - | - | - | |||||
Assets | |||||||||||||||||
Notes Receivable Net | |||||||||||||||||
Assets | 36,729 | 35,370 | 33,380 | 32,996 | 31,804 | 31,325 | 30,615 | 30,194 | 29,772 | 29,524 | 28,311 | 27,660 | |||||
Loans Held For Sale Fair Value Disclosure | - | 0 | 0 | 8 | 6 | 6 | - | - | - | 0 | - | - | |||||
Financing Receivable Excluding Accrued Interest Be… | 14,861 | 13,877 | 13,192 | 12,227 | 11,637 | 11,183 | 10,669 | 10,042 | 9,838 | 9,623 | 9,131 | 9,129 | |||||
Financing Receivable Allowance For Credit Loss Exc… | -40 | -38 | -35 | -30 | -25 | -23 | -20 | -17 | -14 | -16 | -17 | -17 | |||||
Financing Receivable Excluding Accrued Interest Af… | 17,212 | 16,321 | 15,362 | 14,480 | 13,623 | 13,205 | 12,367 | 11,787 | 11,233 | 11,039 | 10,537 | 10,561 | |||||
Derivative Assets | 15 | 45 | 33 | 31 | 28 | 28 | 49 | 54 | 31 | 37 | 29 | 27 | |||||
Interest Receivable | 304 | 357 | 285 | 313 | 263 | 311 | 253 | 286 | 245 | 287 | 231 | 234 | |||||
Guaranty Assets | 57 | 57 | 51 | 50 | 50 | 50 | 46 | 47 | 48 | 50 | 50 | 46 | |||||
Deferred Income Tax Assets Net | 5 | 0 | 3 | 4 | 0 | 2 | 0 | 0 | 0 | 8 | 5 | 3 | |||||
Prepaid Expense And Other Assets | 143 | 108 | 130 | 121 | 87 | 129 | 94 | 173 | 145 | 133 | 214 | 214 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Derivative Liabilities | 46 | 22 | 29 | 54 | 63 | 77 | 64 | 118 | 129 | 117 | 188 | 189 | |||||
Interest Payable Current And Noncurrent | 255 | 234 | 239 | 211 | 222 | 195 | 215 | 194 | 203 | 182 | 172 | 144 | |||||
Guaranty Liabilities | 54 | 55 | 48 | 47 | 48 | 48 | 44 | 45 | 46 | 48 | 48 | 46 | |||||
Accounts Payable And Other Accrued Liabilities | 145 | 153 | 89 | 137 | 71 | 214 | 82 | 125 | 75 | 77 | 59 | 65 | |||||
Deferred Income Tax Liabilities Net | - | - | - | - | 2 | - | 1 | 4 | 4 | - | - | - | |||||
Liabilities | 35,012 | 33,651 | 31,692 | 31,452 | 30,278 | 29,836 | 29,153 | 28,693 | 28,292 | 28,113 | 26,926 | 26,313 | |||||
Additional Paid In Capital | 139 | 139 | 138 | 136 | 135 | 136 | 135 | 134 | 134 | 133 | 131 | 130 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -15 | 13 | -5 | -18 | -2 | -12 | -3 | -9 | -4 | -40 | -36 | -34 | |||||
Stockholders Equity Inclu… | |||||||||||||||||
Retained Earnings Accumulated Deficit | 1,075 | 1,047 | 1,036 | 1,004 | 971 | 943 | 908 | 881 | 855 | 824 | 795 | 755 | |||||
Stockholders Equity | 1,717 | 1,719 | 1,687 | 1,544 | 1,526 | 1,489 | 1,462 | 1,501 | 1,480 | 1,412 | 1,385 | 1,347 | |||||
Preferred Stock Number Of… | |||||||||||||||||
Liabilities And Stockholders Equity | 36,729 | 35,370 | 33,380 | 32,996 | 31,804 | 31,325 | 30,615 | 30,194 | 29,772 | 29,524 | 28,311 | 27,660 | |||||
Debt Securities Available For Sale | - | - | -41 | 427 | 6,329 | 6,105 | 531 | 5,447 | -37 | 5,060 | 17 | 18 | |||||
Mortgage Backed Securities Issued By U S Governmen… | - | - | 100 | 83 | 5,860 | 5,836 | 184 | -56 | 5,811 | 5,825 | -2,623 | -406 | |||||
Common Stock Number Of Sh… | |||||||||||||||||
Variable Interest Entity Primary Beneficiary | 26 | 41 | -9 | 15 | 17 | 29 | -7 | 12 | 10 | 17 | -5 | 6 | |||||
Series D Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Series E Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Series F Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Series G Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Series H Preferred Stock | 0 | 0 | 0 | - | - | 0 | - | - | - | - | - | - | |||||
Common Class A | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Class B | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Series C Preferred Stock | - | - | - | - | - | 0 | -0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Class C | 9 | 9 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Restricted Cash | 27 | 24 | 17 | 13 | 16 | 16 | - | - | - | 5 | - | - | |||||
Debt Securities Available For Sale Amortized Cost … | 14,270 | 13,814 | - | - | - | 11,941 | - | - | - | - | - | - | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.80% | 14.82% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 0.46% | 7.39% | -4.59% | 21.84% | 1.31% | -4.33% | 8.64% | 13.26% | 9.20% | -12.92% | -8.15% | 5.10% |
| 2024 | -5.71% | -1.59% | 17.11% | 5.32% | -0.14% | -1.44% | 17.15% | 8.97% | 8.31% | -5.45% | -19.07% | -10.12% |
| 2023 | 8.59% | 11.67% | 24.35% | 2.10% | -6.95% | -12.59% | 4.80% | 19.53% | 18.25% | 5.02% | 1.48% | 0.14% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Leverage & Debt | |||||||||||||||||
| Interest Coverage TTM | -0.35 | -0.35 | -0.30 | -0.29 | -0.29 | 0.52 | 0.85 | 1.08 | 1.22 | 1.24 | 1.22 | 1.24 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 19.71 | 18.89 | 20.00 | 19.44 | 18.59 | 18.88 | 16.78 | 18.24 | 18.23 | 18.29 | 15.42 | 13.92 | |||||
| Free Cash Flow Per Share TTM | 20.47 | 7.34 | 31.48 | 20.63 | 29.91 | 55.86 | 6.71 | 44.16 | 50.42 | 34.70 | 59.57 | 42.73 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 24.36% | 24.24% | 23.85% | 23.23% | 22.56% | 22.07% | 6.83% | 7.00% | 6.70% | 6.56% | 24.38% | 26.70% | |||||
| Operating Profit Margin TTM | 16.03% | 15.86% | 16.56% | 16.36% | 15.92% | 16.10% | 16.04% | 17.03% | 17.73% | 18.18% | 18.94% | 20.23% | |||||
| Net Profit Margin TTM | 13.07% | 12.86% | 13.79% | 13.45% | 12.86% | 12.92% | 11.80% | 13.03% | 13.57% | 14.37% | 12.89% | 13.56% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 3.66% | 0.54% | 2.08% | 3.31% | 7.82% | 15.17% | 19.14% | 36.82% | 60.80% | 94.22% | 136.99% | 140.07% | |||||
| Net Income Growth (1Y) | 5.41% | 0.11% | 19.28% | 6.64% | 2.15% | 3.59% | 9.10% | 31.53% | 36.41% | 32.47% | 16.47% | 9.54% | |||||
| EPS Growth (1Y) | 5.91% | -0.23% | 18.73% | 6.11% | 1.69% | 3.17% | 8.66% | 30.97% | 35.84% | 32.01% | 16.04% | 9.17% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 7.41 | 9.06 | 8.14 | 9.62 | 9.58 | 9.82 | 10.46 | 9.22 | 9.92 | 9.55 | 9.09 | 9.33 | |||||
| P/B | 0.93 | 1.09 | 1.06 | 1.33 | 1.28 | 1.37 | 1.32 | 1.23 | 1.34 | 1.35 | 1.11 | 1.05 | |||||
| P/S TTM | 0.97 | 1.17 | 1.12 | 1.29 | 1.23 | 1.27 | 1.23 | 1.20 | 1.35 | 1.37 | 1.17 | 1.27 | |||||
| Market Cap | 1.59B | 1.88B | 1.79B | 2.05B | 1.96B | 2.03B | 1.92B | 1.84B | 1.98B | 1.91B | 1.53B | 1.42B | |||||
| Enterprise Value | 820.64M | 947.70M | 885.48M | 1.02B | 908.07M | 1.01B | 1.08B | 919.47M | 1.24B | 1.02B | 750.69M | 543.78M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 221.93M | 80.06M | 344.18M | 225.57M | 325.86M | 607.37M | 72.99M | 480.40M | 546.93M | 375.80M | 645.66M | 462.92M | |||||
| Net Debt | -773.94M | -931.07M | -901.02M | -1.03B | -1.05B | -1.02B | -842.06M | -922.96M | -745.11M | -888.71M | -782.32M | -874.09M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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Insider Transactions
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