Federal Agricultural Mortgage Corporation (AGM) Key Metrics
AGM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.21B
- Enterprise value
- $38.75B
- P/E (TTM)
- 11.2 10-yr median 8.8
- Forward P/E
- 9.4
- PEG ratio
- 0.72
- Price / sales
- 5.4 10-yr median 3.2
- Price / book
- 1.9 10-yr median 1.1
- EV / EBITDA
- — 10-yr median 67.0
- Dividend yield
- 2.65% $6.30 a year
- Beta
- 1.07
AGM key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAGM valuation Price multiples at each fiscal year-end price.
AGM returns How much profit the business earns on the capital it uses.
AGM per-share figures Results divided by the shares outstanding at year-end.
AGM financial health Debt, liquidity and how easily interest is covered.
AGM efficiency & capital use Working capital cycle and where the cash goes.
AGM valuation history
AGM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AGM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AGM cash returned to shareholders
AGM price vs earnings per share
AGM key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.93B | $2.16B | $2.09B | $1.23B | $1.34B | $800.9M | $900.0M | $649.5M | $845.2M | $615.4M |
| Enterprise value | $14.27B | $18.99B | $18.44B | $13.83B | $13.97B | $12.14B | $19.34B | $9.80B | $9.78B | $7.79B |
| P/E ratio | 9.3 | 10.4 | 10.5 | 6.9 | 9.9 | 7.4 | 8.2 | 6.0 | 10.0 | 8.0 |
| Price / sales | 1.5 | 1.3 | 1.5 | 1.6 | 3.0 | 3.9 | 4.6 | 3.5 | 4.8 | 3.8 |
| Price / book | 1.1 | 1.5 | 1.5 | 1.0 | 1.1 | 0.8 | 1.1 | 0.9 | 1.2 | 1.0 |
| Price / free cash flow | 24.1 | 3.6 | 5.6 | 1.5 | 3.1 | — | — | 3.2 | 4.8 | 3.0 |
| Price / operating cash flow | 24.1 | 3.5 | 5.6 | 1.5 | 3.1 | — | — | 3.2 | 4.8 | 3.0 |
| EV / sales | 10.8 | 11.7 | 13.0 | 18.3 | 31.2 | 58.7 | 99.6 | 52.7 | 55.9 | 48.4 |
| EV / EBITDA | 55.8 | 73.6 | 72.9 | 61.1 | 80.9 | 83.3 | 150.8 | 19.4 | 26.2 | 26.8 |
| EV / free cash flow | 178.2 | 31.3 | 49.1 | 17.1 | 32.0 | — | — | 49.0 | 55.9 | 37.3 |
| Earnings yield | 10.8% | 9.6% | 9.6% | 14.5% | 10.1% | 13.6% | 12.2% | 16.6% | 10.0% | 12.6% |
| Free cash flow yield | 4.2% | 28.1% | 18.0% | 66.0% | 32.5% | −11.8% | −2.2% | 30.8% | 20.7% | 33.9% |
| Dividend yield | 4.6% | 4.0% | 3.6% | 5.6% | 4.6% | 6.3% | 4.9% | 5.8% | 3.4% | 3.9% |
| Shareholder yield (dividends + buybacks) | 5.3% | 7.5% | 3.7% | 5.6% | 4.6% | 13.8% | 13.2% | 5.8% | 3.4% | 5.4% |
| Share price at fiscal year-end | $175.57 | $196.95 | $191.22 | $112.71 | $123.93 | $74.25 | $83.50 | $60.44 | $78.24 | $57.27 |
| Per share | ||||||||||
| Revenue per share | $120.03 | $148.05 | $129.48 | $69.38 | $41.28 | $19.18 | $18.01 | $17.32 | $16.21 | $14.96 |
| Earnings per share | $18.88 | $18.88 | $18.29 | $16.37 | $12.55 | $10.07 | $10.16 | $10.06 | $7.82 | $7.20 |
| Operating cash flow per share | $7.29 | $55.82 | $34.36 | $74.36 | $40.24 | −$8.77 | −$1.83 | $18.61 | $16.20 | $19.41 |
| Free cash flow per share | $7.29 | $55.34 | $34.36 | $74.36 | $40.24 | −$8.77 | −$1.83 | $18.61 | $16.20 | $19.41 |
| Cash per share | $1,682.73 | $1,136.71 | $1,036.39 | $1,198.92 | $1,021.00 | $1,097.29 | $993.44 | $801.86 | $739.55 | $710.48 |
| Book value per share | $156.51 | $135.67 | $129.09 | $116.88 | $111.90 | $92.02 | $74.16 | $70.02 | $65.55 | $59.88 |
| Tangible book value per share | $156.51 | $135.67 | $118.49 | $108.77 | $105.19 | $81.61 | $68.63 | $68.81 | $64.10 | $58.73 |
| Dividends per share | $8.11 | $7.84 | $6.84 | $6.26 | $5.65 | $4.70 | $4.07 | $3.53 | $2.63 | $2.24 |
| Capex per share | $0.00 | $0.48 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.75 | $0.03 |
| Debt per share | $2,806.39 | $2,669.78 | $2,531.55 | $2,356.98 | $2,184.69 | $2,148.41 | $2,704.10 | $1,653.73 | $1,566.93 | $1,377.80 |
| Shares outstanding | 11.0M | 11.0M | 10.9M | 10.9M | 10.8M | 10.8M | 10.8M | 10.7M | 10.8M | 10.7M |
| Change in shares outstanding | +0.1% | +0.3% | +0.5% | +0.3% | +0.6% | +0.1% | +0.3% | −0.5% | +0.5% | −5.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.9% | 14.3% | 14.9% | 14.3% | 12.3% | 12.1% | 14.1% | 14.8% | 12.5% | 12.9% |
| Return on invested capital (ROIC) | 1.3% | 1.1% | 1.3% | 1.3% | 1.0% | 0.7% | 0.8% | 4.1% | 2.8% | 2.9% |
| Return on assets (ROA) | 0.6% | 0.7% | 0.7% | 0.7% | 0.6% | 0.5% | 0.5% | 0.6% | 0.5% | 0.5% |
| Return on tangible assets | 0.6% | 0.7% | 0.7% | 0.7% | 0.5% | 0.4% | 0.5% | 0.6% | 0.5% | 0.5% |
| Free cash flow margin | 6.1% | 37.4% | 26.5% | 107.2% | 97.5% | −45.7% | −10.2% | 107.4% | 99.9% | 129.8% |
| Income quality (OCF / net income) | 0.39 | 2.96 | 1.88 | 4.54 | 3.21 | −0.87 | −0.18 | 1.85 | 2.07 | 2.70 |
| Financial health | ||||||||||
| Total debt | $30.82B | $29.30B | $27.69B | $25.65B | $23.70B | $23.17B | $29.14B | $17.77B | $16.93B | $14.81B |
| Cash & short-term investments | $18.48B | $12.48B | $11.34B | $13.05B | $11.07B | $11.84B | $10.71B | $8.62B | $7.99B | $7.63B |
| Net debt | $12.34B | $16.83B | $16.35B | $12.60B | $12.62B | $11.34B | $18.44B | $9.16B | $8.94B | $7.17B |
| Debt / equity | 17.93 | 19.68 | 19.61 | 20.17 | 19.52 | 23.35 | 36.46 | 23.62 | 23.90 | 23.01 |
| Debt / assets | 0.87 | 0.94 | 0.94 | 0.94 | 0.94 | 0.95 | 1.34 | 0.95 | 0.95 | 0.95 |
| Net debt / EBITDA | 48.26 | 65.19 | 64.61 | 55.67 | 73.13 | 77.77 | 143.76 | 18.10 | 23.92 | 24.64 |
| Current ratio | 0.12 | 1.18 | 1.40 | 1.65 | 1.59 | 99.36 | 1.08 | 0.36 | 0.33 | 0.34 |
| Quick ratio | 0.12 | 1.18 | 1.26 | 1.55 | 1.43 | 89.02 | 1.08 | 0.36 | 0.33 | 0.34 |
| Interest coverage | 0.3 | 0.2 | 0.2 | 0.5 | 0.8 | 0.4 | 0.3 | 1.4 | 1.5 | 1.7 |
| Working capital | −$9.93B | $1.99B | $3.33B | $5.37B | $4.21B | $11.96B | $796.8M | −$5.06B | −$5.53B | −$5.69B |
| Invested capital | $14.06B | $18.31B | $17.76B | $13.88B | $13.84B | $12.33B | $19.24B | $9.91B | $9.65B | $7.81B |
| Tangible asset value | $1.72B | $1.49B | $1.30B | $1.18B | $1.14B | $880.2M | $739.7M | $739.5M | $692.4M | $631.4M |
| Net current asset value | −$32.45B | −$17.00B | −$16.44B | −$12.47B | −$12.58B | −$11.28B | −$9.97B | −$15.07B | −$14.37B | −$12.06B |
| Graham number | $257.87 | $240.06 | $230.47 | $207.47 | $177.74 | $144.41 | $130.23 | $125.88 | $107.40 | $98.46 |
| Graham net-net per share | −$1,365.87 | −$1,557.13 | −$1,457.15 | −$1,137.16 | −$1,117.03 | −$994.93 | −$930.02 | −$852.22 | −$828.32 | −$670.54 |
| Capital allocation | ||||||||||
| Dividends paid | $89.0M | $86.1M | $74.8M | $68.2M | $61.3M | $50.6M | $43.9M | $37.9M | $28.4M | $24.1M |
| Share buybacks (net) | $12.9M | $75.0M | $3.0M | $0 | $0 | $60.2M | $75.0M | $0 | $0 | $9.3M |
| Dividend payout ratio | 42.9% | 41.5% | 37.4% | 38.3% | 45.1% | 46.6% | 40.1% | 35.1% | 33.7% | 31.1% |
| Dividends + buybacks / free cash flow | 127.3% | 26.5% | 20.7% | 8.4% | 14.0% | — | — | 18.9% | 16.2% | 16.0% |
| Capex / revenue | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 4.6% | 0.2% |
| Capex / operating cash flow | 0.0% | 0.9% | 0.0% | 0.0% | 0.0% | — | — | 0.1% | 4.6% | 0.1% |
| Capex / depreciation | — | — | — | 0.00 | 0.00 | — | — | — | 4.66 | 0.16 |
| Stock-based compensation / revenue | 0.6% | 0.5% | 0.5% | 0.6% | 1.0% | 2.0% | 1.2% | 1.4% | 1.5% | 2.1% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 9.8% | 6.3% | 6.6% | 10.4% | 15.7% | 28.3% | 25.3% | 25.4% | 22.9% | 23.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 107.3 | 78.4 | 79.0 | 117.8 | 177.2 | 406.8 | 430.8 | 407.4 | 371.8 | 357.1 |
| Days of inventory on hand | — | — | 348.7 | 809.3 | 2,149.7 | 765.0 | 0.8 | 0.1 | 1.3 | 4,614.4 |
| Days payables outstanding | 6,130.0 | 96.4 | 76.2 | 129.7 | 228.2 | 152.3 | 94.6 | 101.6 | 118.6 | 158.1 |
| Cash conversion cycle (days) | -6,022.7 | -18.0 | 351.5 | 797.4 | 2,098.8 | 1,019.6 | 336.9 | 305.9 | 254.6 | 4,813.4 |
| Receivables turnover | 3.40 | 4.66 | 4.62 | 3.10 | 2.06 | 0.90 | 0.85 | 0.90 | 0.98 | 1.02 |
| Payables turnover | 0.06 | 3.79 | 4.79 | 2.81 | 1.60 | 2.40 | 3.86 | 3.59 | 3.08 | 2.31 |
| Inventory turnover | — | — | 1.05 | 0.45 | 0.17 | 0.48 | 482.92 | 2,665.71 | 274.47 | 0.08 |
| Asset turnover | 0.04 | 0.05 | 0.05 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Average receivables | $387.7M | $349.0M | $306.6M | $243.7M | $217.3M | $230.6M | $229.0M | $207.8M | $178.4M | $157.3M |
| Average payables | $15.62B | $333.1M | $222.6M | $158.7M | $126.2M | $125.3M | $118.8M | $99.1M | $74.3M | $67.9M |
| Average inventory | — | — | $1.02B | $990.5M | $1.19B | $629.6M | $949,000 | $133,500 | $833,500 | $1.98B |
| Intangibles / total assets | 0.0% | 0.0% | 0.4% | 0.3% | 0.3% | 0.5% | 0.3% | 0.1% | 0.1% | 0.1% |
Computed from AGM's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AGM valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Federal Agricultural Mortgage traded at 9.3 times earnings, against a 10-year median of 8.8. Based on the latest twelve months, the trailing P/E is 11.2 and the forward P/E is 9.4. Federal Agricultural Mortgage earned a return on equity of 12.9% and a return on invested capital of 1.3% in fiscal 2025. It ended the year with $30.8 billion of debt and $18.5 billion in cash and short-term investments, net debt of $12.3 billion. It returned $101.9 million to shareholders: $89.0 million in dividends and $12.9 million in share buybacks, 127% of free cash flow.
See the AGM income statement, the AGM chart for price history, or the AGM stock overview for the latest quote and news.
AGM key metrics FAQ
What is Federal Agricultural Mortgage's P/E ratio?
Federal Agricultural Mortgage's trailing P/E ratio is 11.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.4. At the end of fiscal 2025 it was 9.3, compared with a 10-year median of 8.8.
What is Federal Agricultural Mortgage's EV/EBITDA?
Federal Agricultural Mortgage's enterprise value was 55.8 times EBITDA at the end of fiscal 2025 (enterprise value $14.3 billion, EBITDA $255.7 million).
What is Federal Agricultural Mortgage's return on equity?
Federal Agricultural Mortgage's return on equity (ROE) was 12.9% in fiscal 2025: net income of $207.4 million on average shareholders' equity of $1.6 billion.
What is Federal Agricultural Mortgage's ROIC?
Federal Agricultural Mortgage's return on invested capital was 1.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Federal Agricultural Mortgage have?
Federal Agricultural Mortgage had total debt of $30.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 17.93 and $12.3 billion of net debt (48.26 times EBITDA).
What is Federal Agricultural Mortgage's dividend yield?
Federal Agricultural Mortgage's forward dividend yield is 2.65%. Federal Agricultural Mortgage paid $89.0 million in dividends in fiscal 2025 ($8.11 per share), a payout ratio of 42.9%.
Does Federal Agricultural Mortgage buy back its shares?
Yes. Federal Agricultural Mortgage spent $12.9 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.1% over the year, to 11.0M..
What is Federal Agricultural Mortgage's free cash flow yield?
Federal Agricultural Mortgage generated $80.1 million of free cash flow in fiscal 2025, a free cash flow yield of 4.2% on its market value at year-end ($1.9 billion).
What is Federal Agricultural Mortgage's current ratio?
Federal Agricultural Mortgage's current ratio was 0.12 at the end of fiscal 2025: current assets were 0.12 times current liabilities.