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AGM-A

Federal Agricultural Mortgage Corporation

AGM-A

Federal Agricultural Mortgage Corporation • NYSE
$130.48 ▲ 0.00% (+0.00)
Market Cap $1.81 B
52w High $167.00
52w Low $117.01
Dividend Yield 5.90%
P/E 7.43
Volume 158
Outstanding Shares 13.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $420.782M ▲ $29.795M ▲ $55.003M ▲ 13.072% ▼ $4.45 ▼ $66.69M ▲
Q2-2025 $404.958M ▲ $29.49M ▼ $54.837M ▲ 13.541% ▲ $4.5 ▲ $65.431M ▲
Q1-2025 $384.693M ▼ $29.51M ▲ $49.651M ▼ 12.907% ▼ $4.04 ▼ $63.125M ▼
Q4-2024 $403.752M ▼ $29.093M ▲ $56.514M ▲ 13.997% ▲ $4.67 ▲ $68.39M ▲
Q3-2024 $411.227M $24.783M $49.828M 12.117% $3.89 $62.249M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $2.516B ▼ $33.38B ▲ $31.692B ▲ $1.687B ▲
Q2-2025 $2.615B ▲ $32.996B ▲ $31.452B ▲ $1.544B ▲
Q1-2025 $2.41B ▼ $31.804B ▲ $30.278B ▲ $1.526B ▲
Q4-2024 $12.475B ▼ $31.325B ▲ $29.836B ▲ $1.489B ▲
Q3-2024 $12.482B $30.615B $29.153B $1.462B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $55.003M ▲ $74.193M ▲ $-528.236M ▲ $324.737M ▼ $-129.306M ▼ $74.193M ▲
Q2-2025 $54.837M ▲ $-47.722M ▲ $-1.037B ▼ $1.066B ▲ $-17.806M ▼ $-47.722M ▲
Q1-2025 $49.651M ▼ $-49.819M ▼ $-345.878M ▲ $419.825M ▼ $24.128M ▼ $-49.819M ▼
Q4-2024 $56.514M ▲ $367.531M ▲ $-782.945M ▼ $597.365M ▲ $181.951M ▲ $367.531M ▲
Q3-2024 $49.828M $-44.351M $-265.676M $229.122M $-80.905M $-44.417M

Five-Year Company Overview

Income Statement

Income Statement Earnings have grown steadily over the past five years, with both revenue and profit moving up at a healthy pace. Profit margins have generally held up well as the company has scaled, suggesting it has been able to grow without sacrificing much efficiency. The strongest growth has come in the last few years, indicating momentum in its core lending and fee-based activities. Overall, the income statement reflects a mature but still expanding financial institution with consistent profitability and rising earnings per share.

Balance Sheet

Balance Sheet The balance sheet shows a steadily expanding book of assets and matching liabilities, which is typical for a credit-focused, government‑sponsored enterprise. Debt levels are high relative to equity, but that structure is normal for this type of funding model. Importantly, the company’s equity base has been building over time, which strengthens its capital cushion. Cash balances have remained fairly stable, indicating no obvious liquidity stress, though the business model relies more on capital markets access than on large cash reserves.

Cash Flow

Cash Flow Cash flow from operations has been mostly positive over the period but can swing meaningfully from year to year, reflecting the nature of a lending business where loan growth, repayments, and funding flows can be lumpy. Free cash flow largely mirrors operating cash flow because the company spends very little on traditional capital expenditures. The overall pattern suggests the company can generate cash from its core activities, but the timing of those flows can be volatile, which is normal for balance‑sheet‑intensive financial firms.

Competitive Edge

Competitive Edge Farmer Mac benefits from a strong niche and a meaningful moat. Its status as a government‑sponsored enterprise gives it funding advantages and credibility that most private lenders cannot easily match. It plays a specialized role in the secondary market for agricultural and rural loans, providing liquidity and risk transfer to banks and other lenders. Deep expertise in agricultural credit further differentiates it from generalist competitors. It does face competition from the Farm Credit System, commercial banks, and insurers, but its charter, funding model, and partnership approach give it a durable position in the agricultural finance ecosystem.

Innovation and R&D

Innovation and R&D While not a traditional tech company, Farmer Mac has been active in targeted innovation. Its AgPower underwriting platform and the large STARS systems upgrade are aimed at making lending faster, more accurate, and easier for partner institutions. The firm is also leaning into sustainability and new markets through programs like the Sustainable Agriculture Incentive, as well as growing exposure to renewable energy projects and rural broadband financing. Ongoing digital transformation, supported by new technology leadership, suggests a focus on staying relevant and efficient in a changing agricultural and rural infrastructure landscape.

Summary

Overall, Federal Agricultural Mortgage Corporation shows a picture of steady growth, consistent profitability, and a strengthening capital base, all built around a specialized role in U.S. agricultural finance. Its government‑sponsored status, sector expertise, and tailored products create a meaningful competitive moat, even in the face of capable rivals. Cash generation is generally solid but naturally uneven due to the nature of the lending business. Looking ahead, the company’s push into technology, sustainable farming incentives, renewable energy, and rural broadband financing provides clear avenues for continued expansion, while key uncertainties remain around credit quality, agricultural cycles, and interest‑rate conditions.

NEWS

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September 25, 2025 · 4:15 PM UTC

Farmer Mac Announces Retirement of Chief Executive Officer Bradford T. Nordholm and Appoints Zachary N.

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September 10, 2025 · 4:15 PM UTC

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