Federal Agricultural Mortgage Corporation (AGM) Income Statement
AGM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAGM revenue and net income
Where AGM's revenue goes
2025Each bar shows an amount and its share of revenue. AGM kept 15.7% of revenue as net income.
AGM profit margins
AGM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −18.9% | +20.4% | +44.8% | +24.6% |
| Gross profit | +6.8% | +8.0% | +13.4% | +10.3% |
| Operating income | −0.9% | +4.3% | +13.2% | +0.6% |
| Net income | +0.1% | +5.2% | +13.8% | +11.7% |
| EPS (diluted) | +6.1% | +13.3% | +12.2% | +14.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AGM quarterly EPS vs estimates
Federal Agricultural Mortgage beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 2, 2026 (estimate $5.22).
AGM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.32B | $1.62B | $1.42B | $755.0M | $447.7M | $206.9M | $194.1M | $186.2M | $175.2M | $160.7M |
| Cost of revenue | $929.8M | $1.26B | $1.07B | $446.7M | $201.8M | $300.4M | $458.3M | $355.9M | $228.8M | $156.8M |
| Gross profit | $388.6M | $363.7M | $350.2M | $308.3M | $245.9M | $206.9M | $194.1M | $186.2M | $175.2M | $160.7M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $129.8M | $102.2M | $93.9M | $78.5M | $70.4M | $58.5M | $49.1M | $47.2M | $40.2M | $37.9M |
| Total operating expenses | $132.8M | $105.6M | $97.1M | $82.6M | $73.4M | −$69.5M | −$55.4M | $420.0M | $287.0M | $213.0M |
| Operating income | $255.7M | $258.1M | $253.1M | $225.7M | $172.5M | $137.4M | $138.7M | $505.9M | $373.7M | $291.0M |
| Interest income | $1.61B | $1.60B | $1.39B | $716.8M | $424.8M | $503.5M | $645.1M | $544.3M | $400.5M | $311.9M |
| Interest expense | $909.6M | $1.25B | $1.06B | $445.9M | $204.0M | $312.9M | $472.0M | $369.8M | $242.9M | $171.6M |
| Income before taxes | $255.7M | $258.1M | $253.1M | $225.7M | $172.5M | $137.4M | $138.7M | $136.0M | $130.7M | $119.4M |
| Income taxes | $48.3M | $50.9M | $53.1M | $47.5M | $36.4M | $28.8M | $29.1M | $27.9M | $46.4M | $42.1M |
| Net income | $207.4M | $207.2M | $200.0M | $178.1M | $136.1M | $108.6M | $109.5M | $108.1M | $84.5M | $77.3M |
| EBITDA | $255.7M | $258.1M | $253.1M | $226.4M | $172.6M | $145.8M | $128.3M | $505.9M | $373.7M | $291.0M |
| EPS (diluted) | $16.61 | $15.66 | $15.65 | $11.43 | $10.16 | $9.34 | $8.70 | $7.81 | $6.15 | $5.01 |
| Gross margin | 29.5% | 22.4% | 24.7% | 40.8% | 54.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 19.4% | 15.9% | 17.9% | 29.9% | 38.5% | 66.4% | 71.4% | 271.7% | 213.4% | 181.0% |
| Net margin | 15.7% | 12.8% | 14.1% | 23.6% | 30.4% | 52.5% | 56.4% | 58.1% | 48.2% | 48.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $450.3M | $423.7M | $107.9M | $420.8M | $405.0M | $384.7M | $403.8M | $411.2M | $406.3M | $403.6M | $85.0M | $391.3M |
| Cost of revenue | $332.2M | $318.9M | $3.4M | $324.3M | $310.0M | $292.1M | $306.3M | $324.2M | $322.6M | $308.1M | $7.8M | $294.0M |
| Gross profit | $118.1M | $104.8M | $104.5M | $96.5M | $94.9M | $92.6M | $97.5M | $87.0M | $83.7M | $95.5M | $85.0M | $97.3M |
| Sales, general & admin | $11.6M | $32.5M | $44.1M | $28.8M | $28.5M | $28.5M | $28.1M | $23.9M | $23.7M | $26.5M | $24.4M | $23.2M |
| Total operating expenses | $43.2M | $33.4M | $44.1M | $29.8M | $29.5M | $29.5M | $29.1M | $24.8M | $24.5M | $27.2M | $25.2M | $24.0M |
| Operating income | $74.9M | $71.4M | $60.5M | $66.7M | $65.4M | $63.1M | $68.4M | $62.2M | $59.2M | $68.2M | $60.4M | $73.2M |
| Interest income | $450.3M | $416.0M | $416.5M | $415.3M | $399.0M | $381.4M | $395.8M | $407.7M | $403.7M | $396.3M | $351.4M | $2.7M |
| Interest expense | $332.2M | $314.6M | $187.5M | $316.9M | $302.2M | $290.5M | $302.4M | $320.9M | $316.4M | $309.9M | $269.2M | $294.2M |
| Income before taxes | $81.8M | $71.4M | $60.5M | $66.7M | $65.4M | $63.1M | $68.4M | $62.2M | $59.2M | $68.2M | $60.4M | $73.2M |
| Income taxes | $14.9M | $12.3M | $12.6M | $11.7M | $10.6M | $13.5M | $11.9M | $12.4M | $12.1M | $14.5M | $12.8M | $15.1M |
| Net income | $67.0M | $59.1M | $47.9M | $55.0M | $54.8M | $49.7M | $56.5M | $49.8M | $47.1M | $53.7M | $47.6M | $58.1M |
| EBITDA | $81.9M | $71.4M | $60.5M | $66.7M | $65.4M | $63.1M | $68.4M | $62.2M | $59.2M | $68.2M | $60.4M | $348.2M |
| EPS (diluted) | $5.40 | $4.74 | $3.66 | $4.44 | $4.32 | $4.19 | $3.97 | $4.10 | $3.63 | $3.96 | $4.10 | $4.13 |
| Gross margin | 26.2% | 24.7% | 96.9% | 22.9% | 23.4% | 24.1% | 24.1% | 21.2% | 20.6% | 23.7% | 100.0% | 24.9% |
| Operating margin | 16.6% | 16.9% | 56.0% | 15.8% | 16.2% | 16.4% | 16.9% | 15.1% | 14.6% | 16.9% | 71.1% | 18.7% |
| Net margin | 14.9% | 14.0% | 44.4% | 13.1% | 13.5% | 12.9% | 14.0% | 12.1% | 11.6% | 13.3% | 56.0% | 14.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AGM's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AGM financial results
In fiscal year 2025 (ended December 31, 2025), Federal Agricultural Mortgage reported revenue of $1.3 billion, down 18.9% from the year before. It had net income of $207.4 million (up 0.1%), a net profit margin of 15.7%. Diluted earnings per share came to $16.61. Over five years revenue grew at an average rate of 44.8% a year.
See the AGM stock overview for the latest quote and news, or the AGM chart for price history and technical indicators.
AGM income statement FAQ
What is Federal Agricultural Mortgage's annual revenue?
Federal Agricultural Mortgage reported total revenue of $1.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 18.9% from $1.6 billion the previous year.
Is Federal Agricultural Mortgage profitable?
Yes. Federal Agricultural Mortgage reported net income of $207.4 million in fiscal 2025, a net profit margin of 15.7%; its operating margin was 19.4%.
What is Federal Agricultural Mortgage's gross margin?
Federal Agricultural Mortgage's gross margin was 29.5% in fiscal 2025: for every $100 of revenue, Federal Agricultural Mortgage kept $29 after the direct cost of its products and services.
How fast is Federal Agricultural Mortgage growing?
Revenue grew 44.8% a year on average over the last five fiscal years, from $206.9 million to $1.3 billion.
What are Federal Agricultural Mortgage's earnings per share?
Federal Agricultural Mortgage earned $16.61 per diluted share in fiscal 2025, compared with $15.66 a year earlier.
When will Federal Agricultural Mortgage report its next earnings?
Federal Agricultural Mortgage is expected to report results for the quarter ending September 30, 2026 on November 2, 2026.
When does Federal Agricultural Mortgage's fiscal year end?
Federal Agricultural Mortgage's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.