AGREE REALTY CORP

ADC · XNYS

CIK 917251fmd_0R1CNTWQ0EYZPXXVPRQNJFQDYKFinance, Insurance and Real Estate · Real Estate Investment TrustsTemplate: Real estate

Coverage: Jan 01, 2009 to Sep 30, 2026, 67 periods

Income Statement · Annual · Millions · USD
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	92	112	137	187	249	339	430	537	617	718
Rental revenue	–	–	–	194	257	353	450	558	638	738
Property operating expenses	2	4	6	–	–	–	–	–	–	–
Real estate taxes	5	8	11	16	21	26	32	40	47	52
Depreciation and amortization	23	27	33	46	67	96	134	176	207	239
Gain on sale of real estate	10	14	11	13	8	15	5	2	12	5
Impairment of real estate	0	0	1	–	–	2	1	7	7	12
Funds from operations (NAREIT definition, derived)	59	71	81	112	150	205	282	352	392	450
Operating income	52	63	73	114	133	190	218	254	302	340
Interest expense	15	18	25	33	40	50	63	81	109	135
Other non-operating income (expense)	–	0	0	0	0	0	1	0	1	1
Income tax expense	0	0	1	1	1	2	3	3	4	2
Net income from continuing operations	46	–	–	–	–	–	–	–	–	–
Net income	45	58	58	80	91	122	152	170	189	204
Net income to common shareholders	45	58	58	80	91	120	145	163	182	197