Agree Realty Corp
ADCReal Estate·REIT - Retail·USA·Mid·NYSE·Nov 12 • 3:59 PM ET
Price
ADC against its 20, 50 and 200-day averages15.8% under the 52-week high of 82.08 on 3 Mar 2026. 52-week low 64.34 on 21 Oct 2026. Last 15 sessions, 7.8% high to low
Volume 0.00× normal · the session has not printed · the line is the 50-bar volume average
Setup. RS line 6
CANSLIM 2 of 6 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); 52-Week High/Low: 0-10% below High; Performance: Year +50%
VCP 3 of 6 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200; 52-Week High/Low: 0-10% below High
Minervini 0 of 4 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200; 52-Week High/Low: 0-10% below High; Performance: Year +50%
Zanger 2 of 5 — fails: Performance: Week +10%; Relative Volume: Over 1.5; 200-Day Simple Moving Average: Price above SMA200
Leaders 2 of 5 — fails: 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%; 52-Week High/Low: 0-10% below High
Breakout 1 of 4 — fails: 52-Week High/Low: New High; Relative Volume: Over 2; 200-Day Simple Moving Average: Price above SMA200
Growth 0 of 4 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); EPS Growth Next Year: High (>25%); Return on Equity: Over +15%
Quality 2 of 5 — fails: Return on Equity: Over +15%; Debt/Equity: Low (<0.1); P/E: Under 25
Value 1 of 4 — fails: P/E: Under 15; Return on Equity: Over +15%; Debt/Equity: Low (<0.1)
Income 2 of 4 — fails: Payout Ratio: Low (<20%); P/E: Under 25
Small Cap 1 of 4 — fails: Float: Under 100M; 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Accumulation 1 of 4 — fails: Institutional Transactions: Over +10%; 200-Day Simple Moving Average: Price above SMA200; Performance: Year Up
Relative Strength 1 of 3 — fails: Performance: Year +100%; 200-Day Simple Moving Average: Price above SMA200
Profile
ADCAgree Realty Corp. is a real estate investment trust, which engages in the ownership, acquisition, development, and management of retail properties net leased to industry tenants. It focuses on the long-term, fee simple ownership of properties net leased to national and large regional retailers. The company was founded by Richard Agree in 1971 and is headquartered in Royal Oak, MI.
| Index | RUI |
|---|---|
| Employees | 90 |
| IPO | Apr 15, 1994 |
| Beta | 0.39 |
| ATR, 14d | 1.24 |
| Rel volume | 0.00 |
| Short float | 7.05% |
| Insider own | 2.16% |
| Inst own | 109.17% |
Snapshot
6 groupsValuation
| Index | RUI |
|---|---|
| Market Cap | $8.99B |
| Enterprise Value | 12.89B |
| Income | 233.25M |
| Sales | 810.28M |
| Book / share | 52.02 |
| Cash / share | 0.70 |
| Dividend Est. | 3.20 (4.64%) |
| Dividend TTM | 3.18 (4.61%) |
| Dividend Ex-Date | Nov 30, 2026 |
| Dividend Gr. 3/5Y | 3.11% 5.12% |
| Payout | 174.38% |
| Employees | 90 |
| IPO | Apr 15, 1994 |
Ratios
| Price / earnings | 35.63 |
|---|---|
| Forward price / earnings | 34.68 |
| Price / earnings / growth | 6.31 |
| Price / sales | 11.09 |
| Price / book | 1.33 |
| Price / cash | 98.27 |
| Price / free cash flow | 15.87 |
| Value / cash profit | 19.38 |
| Value / sales | 15.90 |
| Quick Ratio | 3.97 |
| Current Ratio | 3.97 |
| Debt / equity | 0.55 |
| Long-term debt / equity | 0.55 |
| Options and short | Yes / Yes |
Earnings
| Earnings / share | 1.94 |
|---|---|
| Earnings next year | 1.99 |
| Earnings next quarter | 0.48 |
| Earnings this year | 8.67% |
| Earnings next year | 3.58% |
| Earnings growth, 5 years | 5.50% |
| Past earnings growth | -1.11% 0.32% |
| Past sales growth | 18.68% 23.65% |
| Earnings vs last year | 13.11% |
| Sales vs last year | 17.61% |
| Earnings vs last quarter | 18.48% |
| Sales vs last quarter | 16.73% |
| Earnings | Oct 20 AMC |
| Surprise | 12.07% 1.12% |
Ownership
| Insiders own | 2.16% |
|---|---|
| Insider trades | 3.60% |
| Institutions own | 109.17% |
| Institution trades | 0.97% |
| Return on assets | 2.36% |
| Return on equity | 3.76% |
| Return on capital | 2.24% |
| Gross Margin | 54.13% |
| Operating margin | 48.34% |
| Profit Margin | 28.79% |
| 20-day average | 1.61% |
| 50-day average | 1.60% |
| 200-day average | -7.12% |
Technical
| Shares out | 130.10M |
|---|---|
| Shares floating | 127.29M |
| Short / float | 7.05% |
| Short ratio | 5.32 |
| Short interest | 8.97M |
| 52-week high | 82.08 -15.8% |
| 52-week low | 64.34 +7.4% |
| Volatility | 1.44% 1.88% |
| Average range | 1.24 |
| Strength index | 54.02 |
| Market sensitivity | 0.39 |
| Relative volume | 0.00 |
| Avg Volume | 1.69M |
| Volume | 0 |
Performance
| Perf Week | -1.93% |
|---|---|
| Perf Month | 5.37% |
| Perf Quarter | -7.55% |
| Perf Half Y | -8.21% |
| Perf YTD | -4.07% |
| Perf Year | -5.78% |
| Perf 3Y | 21.98% |
| Perf 5Y | -1.10% |
| Perf 10Y | 59.88% |
| Recommendation | 1.81 |
| Target Price | 77.76 |
| Prev Close | 69.10 |
| Price | 69.10 |
| Change % | 0.00% |
Analyst ratings
latest 10 of 20| Date | Action | Analyst | Rating change | Target | Implied |
|---|---|---|---|---|---|
| Oct 02, 2026 | Resumed | Truist | Buy | $75 | +8.5% |
| Jul 15, 2026 | Initiated | Huntington | Outperform | $84 | +21.6% |
| Jun 01, 2026 | Resumed | Jefferies | Buy | $84 | +21.6% |
| Apr 17, 2026 | Downgrade | BMO Capital Markets | Outperform → Market Perform | $86 | +24.5% |
| Jul 11, 2025 | Downgrade | Morgan Stanley | Overweight → Equal-Weight | $75 | +8.5% |
| May 07, 2025 | Downgrade | BTIG Research | Buy → Neutral | ||
| Mar 04, 2025 | Upgrade | Barclays | Underweight → Equal Weight | $74 → $75 | +8.5% |
| Dec 17, 2024 | Initiated | Barclays | Underweight | $76 | +10.0% |
| Dec 17, 2024 | Downgrade | JMP Securities | Mkt Outperform → Mkt Perform | ||
| Dec 12, 2024 | Initiated | Evercore ISI | Outperform | $82 | +18.7% |
Peers
Mkt cap| Ticker | Company | Mkt cap |
|---|---|---|
| NNN | NNN REIT Inc | 7.94B |
| O | Realty Income Corp | 56.32B |
| EPRT | Essential Properties Realty Trust Inc | 6.14B |
| NTST | Netstreit Corp | 2.32B |
| FCPT | Four Corners Property Trust Inc | 2.53B |
| GTY | Getty Realty Corp | 1.90B |
| PINE | Alpine Income Property Trust Inc | 299.43M |
| WPC | W. P. Carey Inc | 14.60B |
| BNL | Broadstone Net Lease Inc | 3.36B |
| FVR | FrontView REIT Inc | 583.47M |
Insider trading
14 filings| Insider | Relationship | Date | Transaction | Cost | Shares | Value | Total held | Form |
|---|---|---|---|---|---|---|---|---|
| Erlich Craig | CHIEF GROWTH OFFICER | Sep 21 '26 | Buy | 67.55 | 1,000 | 67,550 | 60,388 | Sep 23 07:00 AM |
| RAKOLTA JOHN JR | Director | Sep 16 '26 | Buy | 68.78 | 20,000 | 1,375,600 | 654,602 | Sep 17 07:00 AM |
| Agree Joey | PRESIDENT & CEO | Sep 16 '26 | Buy | 68.06 | 7,360 | 500,922 | 682,465 | Sep 17 07:00 AM |
| RAKOLTA JOHN JR | Director | Aug 31 '26 | Buy | 72.42 | 10,000 | 724,200 | 632,197 | Sep 02 04:05 PM |
| RAKOLTA JOHN JR | Director | Aug 27 '26 | Buy | 73.23 | 20,000 | 1,464,600 | 622,061 | Aug 31 07:00 AM |
| RAKOLTA JOHN JR | Director | Aug 28 '26 | Buy | 73.52 | 136 | 9,999 | 622,197 | Aug 31 07:00 AM |
| AGREE RICHARD | EXECUTIVE CHAIRMAN OF BOARD | Jun 04 '26 | Buy | 71.41 | 5,000 | 357,050 | 90,512 | Jun 08 07:00 AM |
| RAKOLTA JOHN JR | Director | May 15 '26 | Buy | 74.57 | 20,000 | 1,491,400 | 595,798 | May 19 04:05 PM |
| Lehmkuhl Greg | Director | May 14 '26 | Buy | 75.09 | 750 | 56,318 | 34,465 | May 18 07:00 AM |
| Agree Joey | PRESIDENT & CEO | May 14 '26 | Buy | 75.41 | 13,295 | 1,002,576 | 675,105 | May 18 07:00 AM |
| RAKOLTA JOHN JR | Director | Apr 01 '26 | Buy | 75.69 | 146 | 11,051 | 146 | Apr 03 04:29 PM |
| Coughenour Peter | CHIEF FINANCIAL OFFICER | Jan 09 '26 | Buy | 69.80 | 500 | 34,900 | 18,544 | Jan 13 06:59 AM |
| AGREE RICHARD | EXECUTIVE CHAIRMAN OF BOARD | Jan 09 '26 | Buy | 70.67 | 24,000 | 1,696,080 | 159,855 | Jan 12 07:09 AM |
| RAKOLTA JOHN JR | Director | Dec 24 '25 | Buy | 72.18 | 15,000 | 1,082,700 | 562,606 | Dec 29 04:30 PM |
Held by
AUM| Ticker | Company | AUM |
|---|---|---|
| VNQ | Vanguard Real Estate Index Fund ETF | AUM: 39.24B |
| IJH | iShares Core S&P Mid-Cap ETF | AUM: 125.56B |
| VTI | Vanguard Morningstar Total Stock Market ETF | AUM: 696.31B |
| VB | Vanguard Morningstar Small-Cap ETF | AUM: 80.23B |
| VBR | Vanguard Morningstar Small-Cap Value ETF | AUM: 37.88B |
| VXF | Vanguard Extended Market Index ETF | AUM: 30.79B |
| SCHH | Schwab U.S. REIT ETF | AUM: 11.93B |
| MDY | State Street SPDR S&P MIDCAP 400 ETF Trust | AUM: 26.08B |
| DFAR | DFA Real Estate Securities Portfolio ETF Class Shares | AUM: 1.82B |
| SPMD | State Street SPDR Portfolio S&P 400TM Mid Cap ETF | AUM: 19.06B |
News
latest 14 of 196- Agree Realty Declares Monthly Common and Preferred Dividends (Business Wire)
- Agree Realty Beats And Edges Up AFFO Guidance, But Slowing Per-Share Growth And A Smaller Investment Pipeline Signal A Defensive Turn (Earnings Whispers)
- Agree Realty: Q3 Earnings Snapshot (Associated Press)
- Agree Realty Corporation Reports Third Quarter 2026 Results (Business Wire)
- Agree Realty Declares Increased Monthly Common Dividend (Business Wire)
- Agree Realty Announces Third Quarter 2026 Earnings Release Date and Conference Call Information (Business Wire)
- Agree Realty Announces Pricing of $400 Million of 5.650% Senior Unsecured Notes Due 2036 (Business Wire)
- Agree Realty Publishes Sixth Annual Sustainability Report (Business Wire)
- Agree Realty Declares Monthly Common and Preferred Dividends (Business Wire)
- Agree Realty Corp's Dividend Analysis (GuruFocus.com)
- Agree Realty Declares Monthly Common and Preferred Dividends (Business Wire)
- Agree Realty Corp (ADC) (Q2 2026) Earnings Call Highlights: Record Investment Volume and Raised ... (GuruFocus.com)
- Agree Realty Corp's Dividend Analysis (GuruFocus.com)
- Agree Realty: Q2 Earnings Snapshot (Associated Press)
Quarterly earnings
2026Q3 EPS 0.530 beat 0.473, from 0.450 a year earlier. Sales 213.88 beat 211.52, from 183.22 a year earlier
The outline behind the bar is the estimate. The filled bar is the print. Green beat it, red missed it.
| Period | Reported | EPS adjusted | EPS est | EPS reported | Sales act, USD m | Sales est, USD m | Surprise | Year-ago quarter | Analysts | Next session |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026Q3ended 2026-09-30 | 2026-10-20 16:30 | 0.530 | 0.473 | 0.530 | 213.88 | 211.52 | EPS +12.1% · sales +1.1% | vs 2025Q3, year-ago quarter · EPS +17.8% · sales +16.7% | 8 EPS · 14 sales | Open +0.18% vs SPY +0.28%. Close -3.86% vs SPY +0.53% |
| 2026Q2ended 2026-06-30 | 2026-07-30 16:30 | 0.440 | 0.476 | 0.437 | 205.1 | 204.53 | EPS -7.6% · sales +0.3% | vs 2025Q2, year-ago quarter · EPS +2.3% · sales +16.8% | 8 EPS · 14 sales | Open -1.17% vs SPY +0.40%. Close -0.78% vs SPY +0.72% |
| 2026Q1ended 2026-03-31 | 2026-04-21 16:30 | 0.500 | 0.479 | 0.499 | 200.81 | 195.86 | EPS +4.4% · sales +2.5% | vs 2025Q1, year-ago quarter · EPS +19.0% · sales +18.7% | 5 EPS · 12 sales | Open +1.45% vs SPY +0.72%. Close -2.78% vs SPY +1.01% |
| 2025Q4ended 2025-12-31 | 2026-02-10 16:30 | 0.470 | 0.470 | 0.470 | 190.49 | 185.71 | EPS -0.1% · sales +2.6% | vs 2024Q4, year-ago quarter · EPS +14.6% · sales +18.5% | 7 EPS · 16 sales | Open +0.64% vs SPY +0.62%. Close +0.31% vs SPY -0.02% |
| 2025Q3ended 2025-09-30 | 2025-10-21 16:30 | 0.450 | 0.450 | 0.450 | 183.22 | 180.18 | EPS +0.1% · sales +1.7% | vs 2024Q3, year-ago quarter · EPS +7.1% · sales +18.7% | 8 EPS · 14 sales | Open +2.39% vs SPY +0.11%. Close +0.19% vs SPY -0.52% |
| 2025Q2ended 2025-06-30 | 2025-07-31 16:30 | 0.430 | 0.454 | 0.428 | 175.53 | 173.17 | EPS -5.2% · sales +1.4% | vs 2024Q2, year-ago quarter · EPS -17.3% · sales +15.0% | 8 EPS · 14 sales | Open +3.67% vs SPY -0.91%. Close +2.83% vs SPY -1.64% |
| 2025Q1ended 2025-03-31 | 2025-04-22 16:30 | 0.420 | 0.423 | 0.419 | 169.16 | 164.62 | EPS -0.6% · sales +2.8% | vs 2024Q1, year-ago quarter · EPS -2.3% · sales +13.2% | 8 EPS · 15 sales | Open -0.15% vs SPY +2.50%. Close -2.40% vs SPY +1.55% |
| 2024Q4ended 2024-12-31 | 2025-02-11 16:30 | 0.410 | 0.431 | 0.413 | 160.73 | 158.25 | EPS -4.8% · sales +1.6% | vs 2023Q4, year-ago quarter · EPS -6.8% · sales +11.5% | 8 EPS · 14 sales | Open -2.04% vs SPY -1.01%. Close -1.65% vs SPY -0.32% |
| 2024Q3ended 2024-09-30 | 2024-10-22 16:30 | 0.420 | 0.434 | 0.417 | 154.33 | 152.83 | EPS -3.2% · sales +1.0% | vs 2023Q3, year-ago quarter · EPS +2.4% · sales +12.8% | 6 EPS · 11 sales | Open -0.91% vs SPY -0.35%. Close +2.09% vs SPY -0.91% |
| 2024Q2ended 2024-06-30 | 2024-07-23 16:30 | 0.520 | 0.442 | 0.525 | 152.58 | 150.35 | EPS +17.8% · sales +1.5% | vs 2023Q2, year-ago quarter · EPS +23.8% · sales +17.5% | 7 EPS · 12 sales | Open +0.30% vs SPY -0.89%. Close +1.74% vs SPY -2.27% |
| 2024Q1ended 2024-03-31 | 2024-04-23 16:30 | 0.430 | 0.446 | 0.427 | 149.45 | 147.95 | EPS -3.6% · sales +1.0% | vs 2023Q1, year-ago quarter · EPS -2.3% · sales +18.0% | 5 EPS · 10 sales | Open +0.76% vs SPY +0.18%. Close +1.41% vs SPY -0.05% |
| 2023Q4ended 2023-12-31 | 2024-02-13 16:30 | 0.440 | 0.448 | 0.438 | 144.17 | 140.63 | EPS -1.8% · sales +2.5% | vs 2022Q4, year-ago quarter · EPS 0.0% · sales +23.7% | 5 EPS · 10 sales | Open -1.10% vs SPY +0.55%. Close -1.94% vs SPY +0.91% |
| 2023Q3ended 2023-09-30 | 2023-10-24 16:30 | 0.410 | 0.418 | 0.406 | 136.81 | 134.47 | EPS -1.9% · sales +1.7% | vs 2022Q3, year-ago quarter · EPS -10.9% · sales +24.3% | 5 EPS · 10 sales | - |
| 2023Q2ended 2023-06-30 | 2023-08-01 16:30 | 0.420 | 0.433 | 0.418 | 129.9 | 129.54 | EPS -2.9% · sales +0.3% | vs 2022Q2, year-ago quarter · EPS -6.7% · sales +23.9% | 4 EPS · 9 sales | - |
| 2023Q1ended 2023-03-31 | 2023-05-04 16:30 | 0.440 | 0.438 | 0.438 | 126.62 | 121.06 | EPS +0.5% · sales +4.6% | vs 2022Q1, year-ago quarter · EPS -8.3% · sales +28.8% | 5 EPS · 10 sales | - |
| 2022Q4ended 2022-12-31 | 2023-02-14 16:30 | 0.440 | 0.424 | 0.439 | 116.53 | 115.09 | EPS +3.8% · sales +1.2% | vs 2021Q4, year-ago quarter · EPS 0.0% · sales +27.5% | 5 EPS · 10 sales | - |
Annual earnings
2025FY EPS 1.770 missed 1.786, from 1.780 a year earlier. Sales 718.4 beat 717.2, from 617.1 a year earlier
Reported years only. The outline behind the bar is the estimate. A later year with no print stays in the table.
earnings feed, not the snapshot. Not the statement ratio.
| Period | EPS adjusted | EPS est | EPS reported | Sales act, USD m | Sales est, USD m | P/E, earnings feed |
|---|---|---|---|---|---|---|
| 2030FYestimate | - | 2.190 | - | - | 1,195 | 31.55 |
| 2029FYestimate | - | 2.195 | - | - | 1,129 | 31.48 |
| 2028FYestimate | - | 2.078 | - | - | 1,002 | 33.25 |
| 2027FYestimate | - | 1.992 | - | - | 925.99 | 34.68 |
| 2026FYestimate | - | 1.924 | - | - | 839.22 | 35.92 |
| 2025FY | 1.770 | 1.786 | 1.770 | 718.4 | 717.2 | 40.70 |
| 2024FY | 1.780 | 1.789 | 1.779 | 617.1 | 615.36 | 39.58 |
| 2023FY | 1.700 | 1.722 | 1.699 | 537.5 | 534.62 | 37.03 |
| 2022FY | 1.830 | 1.806 | 1.827 | 429.81 | 428.39 | 38.76 |
| 2021FY | 1.780 | 1.820 | 1.784 | 339.32 | 336.61 | 40.09 |
| 2020FY | 1.740 | 1.758 | 1.738 | 248.57 | 247.13 | 38.26 |
| 2019FY | 1.930 | 1.884 | 1.933 | 187.48 | 186.04 | 36.36 |
| 2018FY | 1.780 | 1.797 | 1.784 | 148.2 | 147.36 | 33.21 |
| 2017FY | 2.080 | 1.927 | 2.098 | 116.56 | 116.52 | 24.73 |
| 2016FY | 1.970 | 1.822 | 1.970 | 91.53 | 90.95 | 23.38 |
| 2015FY | 2.160 | 2.028 | 2.160 | 69.97 | 69.37 | 31.99 |
| 2014FY | 1.230 | 1.220 | 1.240 | 53.56 | 53.28 | 56.18 |
| 2013FY | 1.400 | 1.460 | 1.500 | 43.52 | 44.60 | 49.36 |
| 2012FY | 1.300 | 1.510 | 1.620 | 35.79 | 37.08 | 53.15 |
| 2011FY | 1.320 | 0.970 | 0.990 | 36.32 | 44.20 | 52.35 |
| 2010FY | 1.640 | 2.460 | 1.640 | 36.11 | 37.25 | 42.13 |
Quarterly results
2026Q3 revenue 213.88, from 183.22 a year earlier. Operating margin 48.3%, from 48.7% a year earlier
From the quarterly statement. Not an estimate.
Estimate revisions
Latest snapshot of each period and type. 2026Q4 E 0.48 per share.
| Period | Type | Scale | Date | Mean | vs prior date |
|---|---|---|---|---|---|
| 2026Q4 | E | per share | 2026-10-31 | 0.48 | 0.0% |
| 2026FY | E | per share | 2026-10-30 | 1.92 | +0.5% |
| 2026FY | S | - | 2026-10-30 | 839.22 | 0.0% |
| 2026Q4 | S | - | 2026-10-30 | 219.32 | -0.1% |
| 2026FY | R | per share | 2026-10-23 | 1.90 | +0.8% |
| 2026Q4 | R | per share | 2026-10-23 | 0.47 | -1.0% |
| 2026Q3 | E | per share | 2026-10-19 | 0.48 | -0.2% |
| 2026Q3 | R | per share | 2026-10-19 | 0.48 | -2.2% |
| 2026Q3 | S | - | 2026-10-19 | 211.57 | +0.1% |
| 2026Q2 | S | - | 2026-07-22 | 204.53 | 0.0% |
| 2026Q2 | E | per share | 2026-07-20 | 0.48 | 0.0% |
| 2026Q2 | R | per share | 2026-07-20 | 0.49 | 0.0% |
| 2026Q1 | S | - | 2026-04-16 | 195.86 | 0.0% |
| 2026Q1 | E | per share | 2026-04-12 | 0.48 | 0.0% |
| 2026Q1 | R | per share | 2026-03-30 | 0.49 | +1.8% |
| 2025Q4 | S | - | 2026-02-04 | 185.71 | 0.0% |
| 2025FY | E | per share | 2026-01-29 | 1.79 | +0.0% |
| 2025Q4 | E | per share | 2026-01-29 | 0.47 | -0.3% |
| 2025FY | R | per share | 2026-01-19 | 1.78 | -0.1% |
| 2025Q4 | R | per share | 2026-01-19 | 0.48 | -0.6% |
| 2025FY | S | - | 2026-01-19 | 717.2 | 0.0% |
| 2025Q3 | E | per share | 2025-10-21 | 0.45 | 0.0% |
| 2025Q3 | S | - | 2025-10-18 | 180.18 | 0.0% |
| 2025Q3 | R | per share | 2025-09-26 | 0.46 | +0.1% |
| 2025Q2 | E | per share | 2025-07-30 | 0.45 | 0.0% |
| 2025Q2 | S | - | 2025-07-15 | 173.17 | 0.0% |
| 2025Q2 | R | per share | 2025-07-12 | 0.46 | 0.0% |
| 2025Q1 | E | per share | 2025-04-17 | 0.42 | -1.1% |
| 2025Q1 | R | per share | 2025-04-17 | 0.44 | -4.0% |
| 2025Q1 | S | - | 2025-04-17 | 164.69 | +0.0% |
| 2024FY | S | - | 2025-02-07 | 615.36 | +0.0% |
| 2024Q4 | S | - | 2025-02-07 | 158.25 | +0.0% |
| 2024FY | E | per share | 2025-01-31 | 1.79 | -0.1% |
| 2024Q4 | E | per share | 2025-01-31 | 0.43 | -0.4% |
| 2024FY | R | per share | 2025-01-31 | 1.81 | -1.8% |
| 2024Q4 | R | per share | 2025-01-31 | 0.44 | -3.8% |
| 2024Q3 | E | per share | 2024-10-18 | 0.43 | -1.5% |
| 2024Q3 | S | - | 2024-10-18 | 152.83 | -0.2% |
| 2024Q3 | R | per share | 2024-10-02 | 0.45 | -2.2% |
| 2024Q2 | E | per share | 2024-07-23 | 0.44 | 0.0% |
| 2024Q2 | S | - | 2024-07-23 | 150.35 | 0.0% |
| 2024Q2 | R | per share | 2024-06-10 | 0.45 | - |
| 2024Q1 | S | - | 2024-04-23 | 147.95 | +0.1% |
| 2024Q1 | E | per share | 2024-04-13 | 0.45 | 0.0% |
| 2023FY | S | - | 2024-02-10 | 534.62 | 0.0% |
| 2023FY | E | per share | 2024-02-09 | 1.72 | 0.0% |
Estimate history
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | MRQ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EPS per share | 2.098 | 1.784 | 1.933 | 1.738 | 1.784 | 1.827 | 1.699 | 1.779 | 1.767 | 1.9396 | - |
| Sales USD millions | 117 | 137 | 187 | 249 | 339 | 430 | 537 | 617 | 718 | 810 | - |
| Shares million shares | 31 | 38 | 46 | 60 | 71 | 90 | 101 | 107 | 120 | - | 130 |
| Metric | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|
| EPS per share | 0.417 | 0.413 | 0.419 | 0.428 | 0.45 | 0.47 | 0.499 | 0.437 | 0.533 |
| Sales USD millions | 155 | 161 | 169 | 176 | 183 | 190 | 201 | 205 | 214 |
| Shares million shares | 104 | 107 | 110 | 111 | 114 | 120 | 120 | 124 | 130 |
Income statement, annual
| Metric | TTM | 2025FY12/31/2025 | 2024FY12/31/2024 | 2023FY12/31/2023 | 2022FY12/31/2022 | 2021FY12/31/2021 | 2020FY12/31/2020 | 2019FY12/31/2019 | 2018FY12/31/2018 |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 810.28 | 718.40+16.3% | 617.50+14.9% | 537.50+25.1% | 429.81+26.7% | 339.32+36.5% | 248.57+32.6% | 187.48+36.7% | 137.12 |
| Total Expenses | 418.61 | 371.52+16.3% | 319.47+16.4% | 274.45+29.0% | 212.74+31.1% | 162.25+31.4% | 123.44+42.9% | 86.39+34.7% | 64.12 |
| Operating Income | 391.67 | 346.88+16.4% | 298.03+13.3% | 263.04+21.2% | 217.08+22.6% | 177.08+41.5% | 125.13+23.8% | 101.09+38.5% | 73.01 |
| Unusual Expense | 8.90 | 11.87+64.4% | 7.22+0.7% | 7.17+609.9% | 1.01-93.9% | 16.53 | 0.00 | 0.00 | 0.00 |
| Net Income Before Taxes | 243.30 | 206.72+6.5% | 194.14+9.8% | 176.78+11.1% | 159.13+27.0% | 125.28+34.6% | 93.06+14.5% | 81.30+37.1% | 59.31 |
| Income Taxes | 1.51 | 1.74-59.6% | 4.31+48.1% | 2.91+1.7% | 2.86+19.2% | 2.40+120.2% | 1.09+101.9% | 0.54+3.8% | 0.52 |
| Consolidated Net Income | 241.79 | 204.99+8.0% | 189.83+11.6% | 170.14+11.5% | 152.66+24.6% | 122.51+33.6% | 91.67+14.0% | 80.38+37.6% | 58.43 |
| Net Income From Continuing Operations | 241.09 | 204.35+8.0% | 189.20+11.6% | 169.55+11.5% | 152.06+24.7% | 121.90+33.8% | 91.08+14.3% | 79.70+37.9% | 57.80 |
| Net Income | 233.25 | 196.47+8.4% | 181.28+11.8% | 162.12+12.1% | 144.62+20.8% | 119.76+31.5% | 91.08+14.3% | 79.70+37.9% | 57.80 |
| EPS (Recurring) per share | 1.92 | 1.84+0.5% | 1.83+4.6% | 1.75-4.9% | 1.84-6.1% | 1.96+12.6% | 1.74-9.8% | 1.93+8.4% | 1.78 |
| EPS (Basic, Before Extraordinaries) per share | 1.95 | 1.77-1.1% | 1.79+5.3% | 1.70-7.6% | 1.84+2.8% | 1.79+1.7% | 1.76-10.2% | 1.96+8.9% | 1.80 |
| EPS (Diluted) per share | 1.94 | 1.77-0.6% | 1.78+4.7% | 1.70-7.1% | 1.83+2.8% | 1.78+2.3% | 1.74-9.8% | 1.93+8.4% | 1.78 |
| Non-Operating Income (Expense) | 8.54 | 0.11-97.1% | 3.78 | -3.07-152.7% | 5.82-81.3% | 31.08+146.9% | 12.59-4.5% | 13.19+19.5% | 11.04 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | -0.41 | -0.38 | -0.37 | -0.30 | -0.38 | -0.37 |
| Stock Option Compensation Expense | 11.30 | 10.30+20.3% | 8.56+29.7% | 6.60+114.3% | 3.08+20.3% | 2.56-25.6% | 3.44+17.4% | 2.93+25.8% | 2.33 |
| Price To Earnings Ratio ratio statement ratio, not the snapshot | 35.63 | 35.63 | 38.98 | 37.01 | 38.64 | 40.05 | 38.14 | 36.87 | 33.30 |
| Price To Sales Ratio ratio | 10.27 | 11.15 | 11.62 | 11.18 | 13.06 | 14.12 | 14.03 | 15.43 | 13.97 |
| Gross Margin % | 54.13 | 54.42 | 54.36 | 55.41 | 57.51 | 59.69 | 60.37 | 63.08 | 63.51 |
| Operating Margin % | 48.34 | 48.29 | 48.26 | 48.94 | 50.50 | 52.19 | 50.34 | 53.92 | 53.24 |
| Net Margin % | 28.79 | 27.35 | 29.36 | 30.16 | 33.65 | 35.29 | 36.64 | 42.51 | 42.15 |
| Shares Outstanding million shares | 130.10 | 120.03+11.9% | 107.25+6.7% | 100.52+11.5% | 90.17+26.5% | 71.29+18.8% | 60.02+31.7% | 45.57+21.4% | 37.55 |
| Market Capitalization | 8,989.98 | 8,989.98+23.3% | 7,293.20+15.3% | 6,327.73+0.7% | 6,282.50+23.5% | 5,086.92+38.0% | 3,686.57+23.9% | 2,976.12+46.0% | 2,038.58 |
Income statement, quarterly
| Metric | 2026Q39/30/2026 | 2026Q26/30/2026 | 2026Q13/31/2026 | 2025Q412/31/2025 | 2025Q39/30/2025 | 2025Q26/30/2025 | 2025Q13/31/2025 | 2024Q412/31/2024 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 213.88+16.7% | 205.10+16.8% | 200.81+18.6% | 190.49+18.4% | 183.22+18.5% | 175.53+15.0% | 169.26+13.3% | 160.93+11.6% |
| Total Expenses | 110.61+17.6% | 106.41+15.6% | 103.08+18.5% | 98.50+14.5% | 94.04+18.6% | 92.07+18.4% | 87.00+15.0% | 86.03+17.8% |
| Operating Income | 103.28+15.8% | 98.69+18.2% | 97.73+18.8% | 91.98+22.8% | 89.18+18.4% | 83.46+11.6% | 82.25+11.4% | 74.91+5.3% |
| Unusual Expense | 0.00-100.0% | 5.90+99.3% | 1.40-67.7% | 1.60 | 2.98+10.8% | 2.96 | 4.33-4.4% | 0.00-100.0% |
| Net Income Before Taxes | 68.92+31.3% | 55.18+10.8% | 62.73+30.8% | 56.47+21.6% | 52.50+15.1% | 49.78-11.0% | 47.97+2.1% | 46.45-2.5% |
| Income Taxes | 0.38+65.2% | 0.38-9.5% | 0.50-39.0% | 0.26-75.7% | 0.23-78.7% | 0.42-58.0% | 0.82-28.7% | 1.07+50.7% |
| Consolidated Net Income | 68.54+31.1% | 54.81+11.1% | 62.23+32.0% | 56.21+23.9% | 52.28+17.4% | 49.35-10.1% | 47.15+5.0% | 45.38-1.3% |
| Net Income From Continuing Operations | 68.35+31.1% | 54.65+11.1% | 62.05+32.0% | 56.04+23.9% | 52.12+17.4% | 49.20-10.1% | 47.00+5.1% | 45.24-1.3% |
| Net Income | 66.39+32.4% | 52.71+11.6% | 60.09+33.5% | 54.06+24.9% | 50.15+18.3% | 47.23-10.4% | 45.02+5.0% | 43.27-1.6% |
| EPS (Recurring) per share | 0.53+12.8% | 0.47+4.4% | 0.51+13.3% | 0.48+17.1% | 0.47+6.8% | 0.45-13.5% | 0.45-2.2% | 0.41-10.9% |
| EPS (Basic, Before Extraordinaries) per share | 0.53+17.8% | 0.44+2.3% | 0.50+19.0% | 0.47+11.9% | 0.45+7.1% | 0.43-18.9% | 0.42-2.3% | 0.42-4.5% |
| EPS (Diluted) per share | 0.53+17.8% | 0.44+2.3% | 0.50+19.0% | 0.47+14.6% | 0.45+7.1% | 0.43-17.3% | 0.42-2.3% | 0.41-6.8% |
| Non-Operating Income (Expense) | 5.07 | 1.29+12800.0% | 1.21 | 0.96 | -0.26 | 0.01-99.8% | -0.60 | -1.11 |
| Other After Tax Adjustments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock Option Compensation Expense | 2.88+10.3% | 2.98+16.0% | 2.79+13.0% | 2.64-12.9% | 2.61+37.4% | 2.57+35.3% | 2.47+28.6% | 3.03+77.2% |
| Price To Earnings Ratio ratio statement ratio, not the snapshot | 35.63 | 41.01 | 42.67 | 42.14 | 42.37 | 41.19 | 43.31 | 38.98 |
| Price To Sales Ratio ratio | 10.27 | 11.71 | 12.10 | 11.53 | 11.50 | 12.21 | 13.02 | 11.94 |
| Gross Margin % | 54.08 | 53.95 | 54.38 | 54.10 | 54.62 | 54.00 | 55.02 | 52.20 |
| Operating Margin % | 48.29 | 48.12 | 48.67 | 48.29 | 48.68 | 47.55 | 48.60 | 46.54 |
| Net Margin % | 31.04 | 25.70 | 29.92 | 28.38 | 27.37 | 26.91 | 26.60 | 26.89 |
| Shares Outstanding million shares | 130.10+14.0% | 124.38+12.4% | 120.10+9.2% | 120.03+11.9% | 114.13+10.2% | 110.67+10.0% | 110.02+9.3% | 107.25+6.7% |
| Market Capitalization | 8,989.98+14.4% | 9,096.60+13.2% | 9,047.71+9.2% | 8,278.70+13.5% | 7,861.71+3.7% | 8,037.99+29.0% | 8,286.58+44.3% | 7,293.20+15.3% |
Balance sheet, annual
| Metric | 2025FY12/31/2025 | 2024FY12/31/2024 | 2023FY12/31/2023 | 2022FY12/31/2022 | 2021FY12/31/2021 | 2020FY12/31/2020 | 2019FY12/31/2019 | 2018FY12/31/2018 | 2017FY12/31/2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 20.62+222.2% | 6.40-55.9% | 14.52-49.8% | 28.91-36.1% | 45.25+468.5% | 7.96-81.1% | 42.16-21.9% | 53.98-8.2% | 58.78 |
| Short Term Receivables | 122.48+15.1% | 106.42+28.3% | 82.95+26.0% | 65.84+23.2% | 53.44+41.3% | 37.81+41.0% | 26.81+24.4% | 21.55+39.2% | 15.48 |
| Investments | 8,578.67+15.4% | 7,435.63+10.3% | 6,743.32+17.5% | 5,741.07+31.4% | 4,368.98+32.1% | 3,306.47+49.0% | 2,219.16+33.4% | 1,663.87+36.7% | 1,217.20 |
| Investment in Unconsolidated Affiliates | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Property, Plant & Equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Intangible Assets | 1,029.34+15.6% | 890.50+1.9% | 873.84+7.0% | 816.47+17.0% | 698.13+30.7% | 533.96+41.9% | 376.40+30.3% | 288.79+42.1% | 203.18 |
| Total Assets | 9,797.61+15.5% | 8,486.45+9.2% | 7,774.84+15.8% | 6,713.19+28.4% | 5,226.91+34.5% | 3,886.18+45.8% | 2,664.53+31.4% | 2,028.19+35.7% | 1,494.63 |
| Total Debt | 3,381.67+18.4% | 2,856.64+15.6% | 2,470.74+23.5% | 2,000.75+14.6% | 1,745.70+39.2% | 1,254.00+39.5% | 898.97+20.2% | 747.63+36.0% | 549.91 |
| Long Term Debt | 2,738.86-2.4% | 2,804.82+13.6% | 2,469.77+23.8% | 1,995.22+14.3% | 1,744.85+39.3% | 1,253.00+40.0% | 895.25+19.7% | 747.63+43.3% | 521.58 |
| Provision for Risks Charges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | 0.470.0% | 0.47 |
| Other Liabilities | 144.79+21.5% | 119.15+14.6% | 103.95+26.7% | 82.05+32.6% | 61.89-41.6% | 105.94+43.2% | 74.00+75.9% | 42.08+27.3% | 33.06 |
| Total Liabilities | 3,526.46+18.5% | 2,975.78+15.6% | 2,574.68+23.6% | 2,082.80+15.2% | 1,807.59+32.9% | 1,359.93+39.8% | 972.97+23.2% | 789.70+35.4% | 583.44 |
| Preferred Stock - Carrying Value | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% | 175.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Common Equity | 6,095.98+14.3% | 5,335.05+6.2% | 5,024.21+12.8% | 4,454.00+37.4% | 3,242.69+28.4% | 2,524.49+49.4% | 1,689.33+36.7% | 1,236.08+36.0% | 908.66 |
| Total Shareholders Equity | 6,270.98+13.8% | 5,510.05+6.0% | 5,199.21+12.3% | 4,629.00+35.4% | 3,417.69+35.4% | 2,524.49+49.4% | 1,689.33+36.7% | 1,236.08+36.0% | 908.66 |
| Accumulated Minority Interest | 0.17-72.1% | 0.61-35.1% | 0.94-32.4% | 1.39-14.7% | 1.63-7.4% | 1.76-21.1% | 2.23-7.5% | 2.41-4.7% | 2.53 |
| Total Equity | 6,271.15+13.8% | 5,510.66+6.0% | 5,200.15+12.3% | 4,630.39+35.4% | 3,419.32+35.4% | 2,526.25+49.3% | 1,691.56+36.6% | 1,238.49+35.9% | 911.19 |
| Total Liabilities & Stockholders Equity | 9,797.61+15.5% | 8,486.45+9.2% | 7,774.84+15.8% | 6,713.19+28.4% | 5,226.91+34.5% | 3,886.18+45.8% | 2,664.53+31.4% | 2,028.19+35.7% | 1,494.63 |
| Book Value Per Share per share | 50.79+2.1% | 49.74-0.5% | 49.98+1.2% | 49.39+8.6% | 45.49+8.2% | 42.06+13.5% | 37.07+12.6% | 32.92+12.3% | 29.31 |
| Tangible Book Value Per Share per share | 42.45+1.8% | 41.68+0.5% | 41.49+2.4% | 40.53+12.4% | 36.06+5.5% | 34.17+15.7% | 29.53+16.0% | 25.46+10.6% | 23.01 |
| Full-Time Employees people | 90+20.0% | 75+4.2% | 72-5.3% | 76+33.3% | 57+16.3% | 49+19.5% | 41+13.9% | 36+12.5% | 32 |
| Price to Book Ratio ratio | 1.33 | 1.42 | 1.25 | 1.44 | 1.57 | 1.58 | 1.89 | 1.80 | 1.83 |
| Return on Assets % | 2.24 | 2.33 | 2.34 | 2.55 | 2.68 | 2.78 | 3.40 | 3.28 | 4.46 |
| Return on Equity % | 3.47 | 3.53 | 3.45 | 3.78 | 4.10 | 4.32 | 5.45 | 5.39 | 7.30 |
| Return on Invested Capital % | 2.27 | 2.28 | 2.21 | 2.30 | 2.36 | 2.41 | 3.08 | 2.91 | 4.06 |
| Quick Ratio ratio | 0.21 | 1.43 | 3.82 | 3.40 | 5.89 | 1.32 | 2.53 | 3.59 | 1.26 |
| Current Ratio ratio | 0.21 | 1.43 | 3.82 | 3.40 | 5.89 | 1.32 | 2.53 | 3.59 | 1.26 |
Cash flow, annual
| Metric | TTM | 2025FY12/31/2025 | 2024FY12/31/2024 | 2023FY12/31/2023 | 2022FY12/31/2022 | 2021FY12/31/2021 | 2020FY12/31/2020 | 2019FY12/31/2019 | 2018FY12/31/2018 |
|---|---|---|---|---|---|---|---|---|---|
| Funds from Operations | 568.85 | 496.94+17.6% | 422.60+10.4% | 382.63+11.2% | 344.02+30.7% | 263.26+66.3% | 158.31+9.7% | 144.27+50.6% | 95.81 |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | -2.53 | 0.34 | -2.57-147.4% | 5.42-73.9% | 20.74 | -8.71 | -11.27 | -7.62 | -4.39 |
| Cash from Operating Activities | 566.32 | 497.28+18.4% | 420.02+8.2% | 388.05+6.4% | 364.75+43.3% | 254.55+73.1% | 147.04+7.6% | 136.65+49.5% | 91.42 |
| Capital Expenditures | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | -1,703.68 | -1,583.53 | -977.33 | -1,288.39 | -1,660.39 | -1,442.15 | -1,346.31 | -732.57 | -632.61 |
| Purchase of Investments | -1,703.68 | -1,583.53 | -977.33 | -1,288.39 | -1,660.39 | -1,442.15 | -1,346.31 | -732.57 | -632.61 |
| Sale Or Maturity of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Uses | -1.54 | -1.67 | -2.40 | -0.45 | -0.50 | -0.47 | -1.23 | -0.41 | -1.34 |
| Other Sources | 87.08 | 42.07-55.4% | 94.33+581.6% | 13.84-69.2% | 44.91-19.8% | 56.00+17.4% | 47.70-27.1% | 65.46-0.6% | 65.83 |
| Cash from Investing Activities | -1,618.14 | -1,543.13 | -885.41 | -1,275.00 | -1,615.97 | -1,386.62 | -1,299.84 | -667.52 | -568.12 |
| Cash Dividends Paid | -387.06 | -348.09 | -311.04 | -285.11 | -227.74 | -195.82 | -116.11 | -90.26 | -67.64 |
| Change in Capital Stock | 1,160.49 | 900.57+124.8% | 400.66-41.7% | 687.21-45.3% | 1,255.91+37.5% | 913.34+2.1% | 894.48+89.8% | 471.34+39.2% | 338.60 |
| Repurchase of Common Pref Stock | -6.18 | -3.74 | -2.28 | -2.68 | -1.91 | -1.81 | -1.64 | -1.41 | -1.15 |
| Sale of Common Pref Stock | 1,166.67 | 904.31+124.4% | 402.94-41.6% | 689.90-45.2% | 1,257.82+37.4% | 915.15+2.1% | 896.12+89.6% | 472.75+39.2% | 339.74 |
| Proceedsfrom Stock Options | 1,166.67 | 904.31+124.4% | 402.94-41.6% | 689.90-45.2% | 1,257.82+37.4% | 915.15+2.1% | 896.12+89.6% | 472.75+39.2% | 339.74 |
| Issuance or Reduction of Debt, Net | 354.10 | 508.66+38.0% | 368.68-21.8% | 471.47+121.3% | 213.02-54.5% | 467.82+34.0% | 349.06+129.6% | 152.05-24.6% | 201.66 |
| Change in Long Term Debt | 354.10 | 508.66+38.0% | 368.68-21.8% | 471.47+121.3% | 213.02-54.5% | 467.82 | -0.68-102.5% | 27.05-64.7% | 76.66 |
| Issuance of Long Term Debt | 67,006.97 | 29,355.28+1835.4% | 1,516.72-4.1% | 1,581.00+18.6% | 1,332.51+88.0% | 708.62+23520.7% | 3.00-95.7% | 70.00-33.3% | 105.00 |
| Reduction of Long Term Debt | -66,652.87 | -28,846.62 | -1,148.04 | -1,109.53 | -1,119.49 | -240.80 | -3.68 | -42.95 | -28.34 |
| Net Financing Active Other Cash Flow | -1.10 | -1.07 | -1.04 | -1.01 | -0.97 | -1.04 | -0.82 | -0.78 | -0.74 |
| Other Financing Activities Uses | -1.10 | -1.07 | -1.04 | -1.01 | -0.97 | -1.04 | -0.82 | -0.78 | -0.74 |
| Cash from Financing Activities | 1,126.43 | 1,060.08+131.8% | 457.26-47.6% | 872.56-29.6% | 1,240.22+4.7% | 1,184.30+5.1% | 1,126.60+111.6% | 532.35+12.8% | 471.89 |
| Net Change in Cash | 74.61 | 14.22 | -8.12 | -14.38 | -16.34-143.8% | 37.30 | -34.20 | -11.82 | -4.81 |
| Free Cash Flow | 566.32 | 497.28+18.4% | 420.02+8.2% | 388.05+6.4% | 364.75+43.3% | 254.55+73.1% | 147.04+7.6% | 136.65+49.5% | 91.42 |
| Preferred Dividends (Cash Flow) | - | -7.44 | -7.44 | -7.44 | -7.44 | -1.53 | 0.00 | 0.00 | 0.00 |
| Price to Free Cash Flow ratio | 46.44 | 53.69 | 65.86 | 58.36 | 40.98 | 81.58 | 112.79 | 62.35 | 80.54 |
Balance sheet, quarterly
| Metric | 2026Q39/30/2026 | 2026Q26/30/2026 | 2026Q13/31/2026 | 2025Q412/31/2025 | 2025Q39/30/2025 | 2025Q26/30/2025 | 2025Q13/31/2025 | 2024Q412/31/2024 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 91.48+441.9% | 21.19+137.8% | 31.20+179.3% | 20.62+222.2% | 16.88+27.5% | 8.91-63.3% | 11.17-27.6% | 6.40-55.9% |
| Short Term Receivables | 140.71+19.7% | 131.21+21.4% | 129.62+22.9% | 122.48+15.1% | 117.60+19.8% | 108.12+14.0% | 105.48+15.5% | 106.42+28.3% |
| Investments | 9,545.11+15.0% | 9,263.63+16.4% | 8,895.98+15.5% | 8,578.67+15.4% | 8,298.61+16.4% | 7,958.62+14.4% | 7,704.37+12.8% | 7,435.63+10.3% |
| Investment in Unconsolidated Affiliates | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Property, Plant & Equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Intangible Assets | 1,127.01+12.1% | 1,123.90+16.7% | 1,076.34+15.7% | 1,029.34+15.6% | 1,005.24+13.8% | 963.09+11.7% | 930.55+6.5% | 890.50+1.9% |
| Total Assets | 10,950.92+15.5% | 10,586.83+16.5% | 10,180.24+15.7% | 9,797.61+15.5% | 9,484.03+15.9% | 9,084.74+13.5% | 8,800.58+11.8% | 8,486.45+9.2% |
| Total Debt | 3,813.81+10.7% | 3,916.38+18.8% | 3,780.15+25.0% | 3,381.67+18.4% | 3,445.32+25.5% | 3,295.69+20.8% | 3,024.30+17.5% | 2,856.64+15.6% |
| Long Term Debt | 3,813.55+43.0% | 2,921.77-4.1% | 2,839.72-4.5% | 2,738.86-2.4% | 2,666.77-2.6% | 3,047.60+12.0% | 2,972.68+15.5% | 2,804.82+13.6% |
| Provision for Risks Charges | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 194.50+17.5% | 150.32+11.6% | 161.16+22.7% | 144.79+21.5% | 165.47+13.9% | 134.65+23.7% | 131.36+14.1% | 119.15+14.6% |
| Total Liabilities | 4,008.31+11.0% | 4,066.70+18.6% | 3,941.32+24.9% | 3,526.46+18.5% | 3,610.79+25.0% | 3,430.34+20.9% | 3,155.66+17.3% | 2,975.78+15.6% |
| Preferred Stock - Carrying Value | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% | 175.000.0% |
| Common Equity | 6,767.63+18.8% | 6,345.14+15.8% | 6,063.84+10.9% | 6,095.98+14.3% | 5,697.98+11.3% | 5,479.04+9.9% | 5,469.45+9.3% | 5,335.05+6.2% |
| Total Shareholders Equity | 6,942.63+18.2% | 6,520.14+15.3% | 6,238.84+10.5% | 6,270.98+13.8% | 5,872.98+10.9% | 5,654.04+9.5% | 5,644.45+9.0% | 5,510.05+6.0% |
| Accumulated Minority Interest | -0.01-103.8% | -0.01-102.8% | 0.09-80.9% | 0.17-72.1% | 0.26-61.2% | 0.36-56.1% | 0.47-46.6% | 0.61-35.1% |
| Total Equity | 6,942.61+18.2% | 6,520.13+15.3% | 6,238.93+10.5% | 6,271.15+13.8% | 5,873.24+10.9% | 5,654.40+9.5% | 5,644.92+9.0% | 5,510.66+6.0% |
| Total Liabilities & Stockholders Equity | 10,950.92+15.5% | 10,586.83+16.5% | 10,180.24+15.7% | 9,797.61+15.5% | 9,484.03+15.9% | 9,084.74+13.5% | 8,800.58+11.8% | 8,486.45+9.2% |
| Book Value Per Share per share | 52.02+4.2% | 51.01+3.0% | 50.49+1.6% | 50.79+2.1% | 49.92+1.0% | 49.51-0.1% | 49.710.0% | 49.74-0.5% |
| Tangible Book Value Per Share per share | 43.68+5.4% | 42.34+2.8% | 41.88+0.8% | 42.45+1.8% | 41.45+0.2% | 41.17-0.2% | 41.56+0.5% | 41.68+0.5% |
| Full-Time Employees people | - | - | - | 90+20.0% | - | - | - | 75+4.2% |
| Price to Book Ratio ratio | 1.33 | 1.50 | 1.48 | 1.44 | 1.43 | 1.47 | 1.55 | 1.42 |
| Return on Assets % | 2.36 | 2.29 | 2.31 | 2.24 | 2.19 | 2.18 | 2.30 | 2.33 |
| Return on Equity % | 3.76 | 3.69 | 3.69 | 3.47 | 3.47 | 3.44 | 3.54 | 3.53 |
| Return on Invested Capital % | 0.64 | 0.58 | 0.68 | 0.62 | 0.61 | 0.57 | 0.55 | 0.54 |
| Quick Ratio ratio | 3.97 | 0.16 | 0.13 | 0.21 | 0.17 | 0.42 | 1.49 | 1.43 |
| Current Ratio ratio | 3.97 | 0.16 | 0.13 | 0.21 | 0.17 | 0.42 | 1.49 | 1.43 |
Cash flow, quarterly
| Metric | 2026Q39/30/2026 | 2026Q26/30/2026 | 2026Q13/31/2026 | 2025Q412/31/2025 | 2025Q39/30/2025 | 2025Q26/30/2025 | 2025Q13/31/2025 | 2024Q412/31/2024 |
|---|---|---|---|---|---|---|---|---|
| Funds from Operations | 162.74+30.6% | 139.49+7.8% | 139.30+20.5% | 127.33+14.3% | 124.62+20.9% | 129.39+25.5% | 115.59+10.1% | 111.40+9.1% |
| Extraordinary Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in Working Capital | 19.11-10.7% | -8.87 | 5.69-47.5% | -18.46 | 21.41-27.5% | -13.44 | 10.83 | -19.98 |
| Cash from Operating Activities | 181.84+24.5% | 130.62+12.7% | 144.99+14.7% | 108.87+19.1% | 146.03+10.1% | 115.95+24.8% | 126.43+22.6% | 91.42-6.7% |
| Capital Expenditures | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Assets From Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sale of Fixed Assets and Businesses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchase or Sale of Investments | -358.89 | -511.79 | -441.22 | -391.77 | -458.08 | -350.57 | -383.11 | -378.26 |
| Purchase of Investments | -358.89 | -511.79 | -441.22 | -391.77 | -458.08 | -350.57 | -383.11 | -378.26 |
| Sale Or Maturity of Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Uses | -0.15 | -0.56 | -0.31 | -0.53 | -0.84 | -0.17 | -0.13 | -0.84 |
| Other Sources | 26.91+84.2% | 29.52+410.7% | 11.35+376.9% | 19.30-37.3% | 14.61+112.0% | 5.78-83.7% | 2.38-88.7% | 30.76+190.7% |
| Cash from Investing Activities | -332.13 | -482.83 | -430.17 | -373.01 | -444.31 | -344.96 | -380.86 | -348.34 |
| Cash Dividends Paid | -101.49 | -97.46 | -96.79 | -91.32 | -87.02 | -86.02 | -83.73 | -80.12 |
| Preferred Dividends (Cash Flow) | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 | -1.86 |
| Change in Capital Stock | 425.45+69.0% | 312.86+661.2% | -6.06-103.4% | 428.24+88.0% | 251.79+43.8% | 41.10 | 179.44 | 227.79 |
| Repurchase of Common Pref Stock | -0.09 | -0.01 | -6.06 | -0.03 | -0.06 | -0.01 | -3.65 | -0.02 |
| Sale of Common Pref Stock | 425.54+69.0% | 312.87+661.2% | 0.00-100.0% | 428.26+88.0% | 251.85+43.8% | 41.10 | 183.09 | 227.81 |
| Proceedsfrom Stock Options | 425.54+69.0% | 312.87+661.2% | 0.00-100.0% | 428.26+88.0% | 251.85+43.8% | 41.10 | 183.09 | 227.81 |
| Issuance or Reduction of Debt, Net | -103.10-172.7% | 127.08-53.3% | 398.88+143.6% | -68.76-167.0% | 141.74+2360.8% | 271.93+72.7% | 163.75+59.3% | 102.68-42.2% |
| Change in Long Term Debt | -103.10-172.7% | 127.08-53.3% | 398.88+143.6% | -68.76-167.0% | 141.74+2360.8% | 271.93+72.7% | 163.75+59.3% | 102.68-42.2% |
| Issuance of Long Term Debt | 13,909.21+8.7% | 30,500.70+386.1% | 12,790.74+2598.5% | 9,806.32+1968.8% | 12,800.53+4588.8% | 6,274.44+1001.3% | 474.00+137.0% | 474.00+109.7% |
| Reduction of Long Term Debt | -14,012.32 | -30,373.62 | -12,391.86 | -9,875.08 | -12,658.78 | -6,002.51 | -310.25 | -371.32 |
| Net Financing Active Other Cash Flow | -0.28 | -0.28 | -0.27 | -0.27 | -0.27 | -0.27 | -0.26 | -0.26 |
| Other Financing Activities Uses | -0.28 | -0.28 | -0.27 | -0.27 | -0.27 | -0.27 | -0.26 | -0.26 |
| Cash from Financing Activities | 220.58-28.0% | 342.20+50.9% | 295.76+14.1% | 267.88+7.1% | 306.25+196.7% | 226.75+182.8% | 259.20+990.9% | 250.09+146.5% |
| Net Change in Cash | 70.29+781.9% | -10.02 | 10.58+121.8% | 3.74 | 7.97 | -2.26-125.6% | 4.77+424.2% | -6.84-184.0% |
| Free Cash Flow | 181.84+24.5% | 130.62+12.7% | 144.99+14.7% | 108.87+19.1% | 146.03+10.1% | 115.95+24.8% | 126.43+22.6% | 91.42-6.7% |
| Price to Free Cash Flow ratio | 46.44 | 57.79 | 58.66 | 55.52 | 55.42 | 57.94 | 66.35 | 67.68 |
Revenue breakdown
USD millions, so a column adds up to the income statement. Share is of the latest year in that split. The change is versus the older year shown, not TTM.
| Name | 2024 | 2025 | vs 2024 | 2025 share |
|---|---|---|---|---|
| Real Estate Investment Trusts | 617.10 | 718.40 | +16.4% | 100.0% |
| Total | 617.10 | 718.40 | +16.4% | 100.0% |
| Name | 2024 | 2025 | vs 2024 | 2025 share |
|---|---|---|---|---|
| United States | 617.10 | 718.40 | +16.4% | 100.0% |
| Total | 617.10 | 718.40 | +16.4% | 100.0% |
Short interest
shares short against float, oldest to newest| Settlement | Of float | Shares short | Float | Avg volume |
|---|---|---|---|---|
| 2026-10-30 | 7.05% | 9.0M | 127.3M | 1.63M |
| 2026-10-15 | 6.24% | 7.9M | 127.3M | 1.55M |
| 2026-09-30 | 6.37% | 7.8M | 121.7M | 1.42M |
| 2026-09-15 | 5.56% | 6.8M | 121.7M | 1.32M |
| 2026-08-31 | 5.10% | 6.2M | 121.7M | 1.30M |
| 2026-08-14 | 11.60% | 14.1M | 121.8M | 1.22M |
| 2026-07-31 | 11.78% | 14.3M | 121.8M | 1.16M |
| 2026-07-15 | 12.20% | 14.3M | 117.6M | 1.15M |
| 2026-06-30 | 12.38% | 14.6M | 117.6M | 1.13M |
| 2026-06-15 | 13.47% | 15.8M | 117.2M | 1.16M |
| 2026-05-29 | 12.92% | 15.2M | 117.5M | 1.18M |
| 2026-05-15 | 12.47% | 14.6M | 117.5M | 1.15M |
| 2026-04-30 | 12.26% | 14.4M | 117.9M | 1.25M |
| 2026-04-15 | 12.04% | 14.2M | 117.9M | 1.25M |
| 2026-03-31 | 12.73% | 15.0M | 117.5M | 1.37M |
| 2026-03-13 | 11.78% | 13.8M | 117.5M | 1.34M |
| 2026-02-27 | 11.35% | 13.3M | 117.5M | 1.28M |
| 2026-02-13 | 11.05% | 13.0M | 117.5M | 1.27M |
| 2026-01-30 | 4.77% | 5.4M | 112.9M | 1.19M |
| 2026-01-15 | 4.37% | 4.9M | 112.9M | 1.18M |
Option chain
expiry 2026-11-20| Type | Strike | Bid | Ask | Last | IV | Open int | Volume | Delta | Theta | Vega |
|---|---|---|---|---|---|---|---|---|---|---|
| call | 35.00 | 32.70 | 36.40 | 0.00 | 4.415 | 0.00 | 0.00 | 0.992 | -0.020 | 0.002 |
| call | 40.00 | 28.50 | 31.40 | 0.00 | 3.719 | 0.00 | 0.00 | 0.991 | -0.020 | 0.002 |
| call | 45.00 | 23.50 | 26.40 | 0.00 | 3.103 | 0.00 | 0.00 | 0.970 | -0.066 | 0.007 |
| call | 50.00 | 19.00 | 21.40 | 0.00 | 2.545 | 0.00 | 0.00 | 0.963 | -0.063 | 0.008 |
| call | 55.00 | 14.00 | 16.40 | 0.00 | 2.025 | 0.00 | 0.00 | 0.952 | -0.059 | 0.010 |
| call | 60.00 | 9.00 | 11.00 | 9.91 | 1.394 | 3.00 | 0.00 | 0.933 | -0.053 | 0.013 |
| call | 65.00 | 3.20 | 5.80 | 5.01 | 0.857 | 19.00 | 0.00 | 0.819 | -0.079 | 0.027 |
| call | 70.00 | 0.40 | 1.10 | 0.90 | 0.370 | 1,665 | 4.00 | 0.445 | -0.127 | 0.040 |
| call | 75.00 | 0.00 | 2.55 | 0.15 | 0.427 | 46.00 | 0.00 | 0.116 | -0.057 | 0.020 |
| call | 80.00 | 0.00 | 2.60 | 0.00 | 0.507 | 0.00 | 0.00 | 0.026 | -0.020 | 0.006 |
| call | 85.00 | 0.00 | 2.60 | 0.00 | 0.676 | 0.00 | 0.00 | 0.020 | -0.022 | 0.005 |
| call | 90.00 | 0.00 | 0.05 | 0.00 | 0.756 | 0.00 | 0.00 | 0.018 | -0.020 | 0.005 |
| call | 95.00 | 0.00 | 1.80 | 0.00 | 0.970 | 0.00 | 0.00 | 0.015 | -0.024 | 0.004 |
| call | 100 | 0.00 | 2.60 | 0.00 | 1.101 | 0.00 | 0.00 | 0.013 | -0.025 | 0.003 |
| call | 105 | 0.00 | 3.40 | 0.00 | 1.223 | 0.00 | 0.00 | 0.012 | -0.025 | 0.003 |
| put | 35.00 | 0.00 | 0.05 | 0.00 | 1.914 | 0.00 | 0.00 | -0.007 | -0.022 | 0.002 |
| put | 40.00 | 0.00 | 0.05 | 0.00 | 1.573 | 0.00 | 0.00 | -0.008 | -0.022 | 0.002 |
| put | 45.00 | 0.00 | 3.00 | 0.00 | 1.644 | 0.00 | 0.00 | -0.029 | -0.070 | 0.007 |
| put | 50.00 | 0.00 | 0.75 | 0.00 | 1.294 | 0.00 | 0.00 | -0.036 | -0.066 | 0.008 |
| put | 55.00 | 0.00 | 0.20 | 0.28 | 0.969 | 10.00 | 10.00 | -0.047 | -0.061 | 0.010 |
| put | 60.00 | 0.00 | 0.20 | 0.05 | 0.660 | 137 | 0.00 | -0.066 | -0.055 | 0.013 |
| put | 65.00 | 0.05 | 0.25 | 0.07 | 0.377 | 208 | 12.00 | -0.181 | -0.081 | 0.027 |
| put | 70.00 | 0.60 | 3.20 | 1.15 | 0.671 | 11.00 | 0.00 | -0.556 | -0.128 | 0.040 |
| put | 75.00 | 4.20 | 7.20 | 0.00 | 0.833 | 0.00 | 0.00 | -0.882 | -0.058 | 0.020 |
| put | 80.00 | 9.10 | 11.40 | 0.00 | 0.838 | 0.00 | 0.00 | -0.973 | -0.020 | 0.006 |
| put | 85.00 | 13.70 | 17.30 | 0.00 | 1.447 | 0.00 | 0.00 | -0.979 | -0.021 | 0.005 |
| put | 90.00 | 19.40 | 22.30 | 0.00 | 1.687 | 0.00 | 0.00 | -0.982 | -0.022 | 0.004 |
| put | 95.00 | 23.60 | 26.30 | 0.00 | 1.389 | 0.00 | 0.00 | -0.984 | -0.022 | 0.004 |
| put | 100 | 28.60 | 32.30 | 0.00 | 2.101 | 0.00 | 0.00 | -0.986 | -0.022 | 0.003 |
| put | 105 | 33.60 | 36.60 | 0.00 | 1.924 | 0.00 | 0.00 | -0.987 | -0.022 | 0.003 |
Latest SEC filings
30| Filed | Form | Description | Period | Link |
|---|---|---|---|---|
| 2026-10-27 | SCHEDULE 13G | SEC | ||
| 2026-10-23 | 4 | Statement of changes in beneficial ownership of securities | 2026-10-21 | SEC |
| 2026-10-23 | 4 | Statement of changes in beneficial ownership of securities | 2026-10-21 | SEC |
| 2026-10-20 | 10-Q | Quarterly report pursuant to Section 13 or 15(d) | 2026-09-30 | SEC |
| 2026-10-20 | 8-K | Current report | 2026-10-20 | SEC |
| 2026-10-02 | 8-K | Current report | 2026-10-02 | SEC |
| 2026-09-23 | 4 | Statement of changes in beneficial ownership of securities | 2026-09-21 | SEC |
| 2026-09-22 | 8-K | Current report | 2026-09-17 | SEC |
| 2026-09-18 | 424B5 | SEC | ||
| 2026-09-17 | FWP | Filing under Securities Act Rule 163/433 of free writing prospectuses. | SEC | |
| 2026-09-17 | FWP | Filing under Securities Act Rule 163/433 of free writing prospectuses. | SEC | |
| 2026-09-17 | 424B5 | SEC | ||
| 2026-09-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-09-16 | SEC |
| 2026-09-17 | 4 | Statement of changes in beneficial ownership of securities | 2026-09-16 | SEC |
| 2026-09-02 | 4 | Statement of changes in beneficial ownership of securities | 2026-08-31 | SEC |
| 2026-08-31 | 4 | Statement of changes in beneficial ownership of securities | 2026-08-27 | SEC |
| 2026-08-21 | 4 | Statement of changes in beneficial ownership of securities | 2026-08-19 | SEC |
| 2026-08-14 | SCHEDULE 13G/A | SEC | ||
| 2026-07-30 | 10-Q | Quarterly report pursuant to Section 13 or 15(d) | 2026-06-30 | SEC |
| 2026-07-30 | 8-K | Current report | 2026-07-30 | SEC |
| 2026-07-02 | 8-K | Current report | 2026-07-02 | SEC |
| 2026-06-08 | 4 | Statement of changes in beneficial ownership of securities | 2026-06-04 | SEC |
| 2026-05-19 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-15 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
| 2026-05-18 | 4 | Statement of changes in beneficial ownership of securities | 2026-05-14 | SEC |
Insider activity by month
| Month | Bought | Buys | Sold | Sells |
|---|---|---|---|---|
| 2026-11 | 0 | 0 | 0 | 0 |
| 2026-10 | 0 | 0 | 0 | 0 |
| 2026-09 | 1.94M | 3 | 0 | 0 |
| 2026-08 | 2.20M | 3 | 0 | 0 |
| 2026-07 | 0 | 0 | 0 | 0 |
| 2026-06 | 357.05K | 1 | 0 | 0 |
| 2026-05 | 2.55M | 3 | 0 | 0 |
| 2026-04 | 11.05K | 1 | 0 | 0 |
| 2026-03 | 0 | 0 | 0 | 0 |
| 2026-02 | 0 | 0 | 0 | 0 |
| 2026-01 | 1.73M | 2 | 0 | 0 |
| 2025-12 | 1.08M | 1 | 0 | 0 |
| 2025-11 | 0 | 0 | 0 | 0 |
Institutional holders
| Manager | % owned |
|---|---|
| BlackRock, Inc. | 15.91% |
| COHEN & STEERS, INC. | 13.66% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 8.82% |
| STATE STREET CORP | 4.95% |
| VANGUARD CAPITAL MANAGEMENT LLC | 4.50% |
| PRINCIPAL FINANCIAL GROUP INC | 3.64% |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | 3.11% |
| TWO SIGMA INVESTMENTS, LP | 2.94% |
| GEODE CAPITAL MANAGEMENT, LLC | 2.31% |
| Daiwa Securities Group Inc. | 2.04% |
Funds
| Fund | % owned |
|---|---|
| Columbia Adaptive Risk Allocation Fund | 112.35% |
| Columbia Real Estate Equity Fund | 14.85% |
| Bond Fund | 11.77% |
| VANGUARD REAL ESTATE INDEX FUND | 3.80% |
| iShares Core S&P Mid-Cap ETF | 3.42% |
| VANGUARD TOTAL STOCK MARKET INDEX FUND | 3.18% |
| MEDIUM-DURATION BOND FUND | 2.83% |
| Empower Short Duration Bond Fund | 2.82% |
| Short Duration Bond Fund | 2.73% |
| Cohen & Steers Institutional Realty Shares | 2.37% |
OakChart. ADC. Cached 15 minutes. Terms