AGNC Investment Corp. (AGNC) Key Metrics
AGNC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $10.34B
- Enterprise value
- $83.10B
- P/E (TTM)
- 4.4 10-yr median 10.2
- Forward P/E
- 6.6
- PEG ratio
- 3.48
- Price / sales
- 4.3 10-yr median 5.1
- Price / book
- 1.1 10-yr median 0.8
- EV / EBITDA
- — 10-yr median 55.2
- Dividend yield
- 16.51% $1.44 a year
- Beta
- 1.34
AGNC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAGNC valuation Price multiples at each fiscal year-end price.
AGNC returns How much profit the business earns on the capital it uses.
AGNC per-share figures Results divided by the shares outstanding at year-end.
AGNC financial health Debt, liquidity and how easily interest is covered.
AGNC efficiency & capital use Working capital cycle and where the cash goes.
AGNC valuation history
AGNC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AGNC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AGNC cash returned to shareholders
AGNC price vs earnings per share
AGNC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $10.97B | $7.24B | $6.81B | $5.56B | $7.97B | $8.60B | $9.57B | $7.74B | $7.24B | $6.02B |
| Enterprise value | $112.32B | $6.80B | $6.37B | $46.11B | $73.96B | $83.59B | $107.60B | $104.33B | $67.34B | $54.06B |
| P/E ratio | 6.6 | 8.4 | 43.9 | — | 10.6 | — | 13.9 | 60.0 | 9.4 | 9.7 |
| Price / sales | 5.7 | 1.5 | 6.8 | 2.2 | 9.5 | — | 12.4 | 4.0 | 4.6 | — |
| Price / book | 0.9 | 0.7 | 0.8 | 0.7 | 0.8 | 0.8 | 0.9 | 0.8 | 0.8 | 0.8 |
| Price / free cash flow | 16.8 | 84.2 | — | 5.5 | 5.2 | 4.9 | 8.1 | 7.0 | 5.7 | — |
| Price / operating cash flow | 16.8 | 84.2 | — | 5.5 | 5.2 | 4.9 | 8.1 | 7.0 | 5.7 | 4.5 |
| EV / sales | 58.7 | 1.4 | 6.3 | 18.1 | 88.4 | — | 139.6 | 54.3 | 42.3 | — |
| EV / EBITDA | 23.9 | 1.8 | 2.6 | — | 66.2 | 102.4 | 156.4 | 78.6 | 51.9 | 55.2 |
| EV / free cash flow | 172.0 | 79.0 | — | 45.5 | 48.0 | 47.8 | 91.2 | 93.7 | 53.4 | — |
| Earnings yield | 15.2% | 11.9% | 2.3% | −21.4% | 9.4% | −3.1% | 7.2% | 1.7% | 10.6% | 10.4% |
| Free cash flow yield | 6.0% | 1.2% | −1.7% | 18.2% | 19.3% | 20.3% | 12.3% | 14.4% | 17.4% | −77.3% |
| Dividend yield | 14.6% | 17.1% | 14.8% | 15.6% | 10.8% | 11.3% | 11.9% | 12.6% | 11.0% | 13.3% |
| Shareholder yield (dividends + buybacks) | 14.6% | 17.1% | 14.8% | 16.6% | 14.3% | 15.7% | 14.8% | 12.6% | 13.4% | 15.2% |
| Share price at fiscal year-end | $10.72 | $9.21 | $9.81 | $10.35 | $15.04 | $15.60 | $17.68 | $17.54 | $20.19 | $18.13 |
| Per share | ||||||||||
| Revenue per share | $1.87 | $6.20 | $1.45 | $4.75 | $1.58 | $0.00 | $1.42 | $4.35 | $4.44 | $0.00 |
| Earnings per share | $1.63 | $1.10 | $0.22 | −$2.22 | $1.41 | −$0.48 | $1.27 | $0.29 | $2.15 | $1.88 |
| Operating cash flow per share | $0.64 | $0.11 | −$0.17 | $1.89 | $2.91 | $3.17 | $2.18 | $2.52 | $3.51 | $4.07 |
| Free cash flow per share | $0.64 | $0.11 | −$0.17 | $1.89 | $2.91 | $3.17 | $2.18 | $2.52 | $3.51 | −$14.01 |
| Cash per share | $0.44 | $0.64 | $0.75 | $4.35 | $1.88 | $1.84 | $1.53 | $2.09 | $2.92 | $3.64 |
| Book value per share | $12.11 | $12.42 | $11.89 | $14.66 | $19.42 | $20.09 | $20.39 | $22.44 | $24.40 | $22.16 |
| Tangible book value per share | $11.59 | $11.75 | $11.13 | $13.68 | $18.42 | $19.13 | $19.42 | $20.06 | $21.33 | $18.82 |
| Dividends per share | $1.56 | $1.58 | $1.45 | $1.62 | $1.62 | $1.76 | $2.10 | $2.21 | $2.22 | $2.41 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $18.09 |
| Debt per share | $99.44 | $0.08 | $0.12 | $79.87 | $126.39 | $137.78 | $182.59 | $220.90 | $170.47 | $148.38 |
| Shares outstanding | 1.02B | 786.0M | 694.3M | 537.0M | 530.0M | 551.6M | 541.4M | 441.4M | 358.7M | 331.9M |
| Change in shares outstanding | +30.2% | +13.2% | +29.3% | +1.3% | −3.9% | +1.9% | +22.7% | +23.1% | +8.1% | −4.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.1% | 9.6% | 1.9% | −13.1% | 7.0% | −2.4% | 6.6% | 1.4% | 9.6% | 8.1% |
| Return on invested capital (ROIC) | 5.8% | 35.8% | 7.3% | −0.7% | 0.8% | −0.2% | 0.6% | 1.2% | 1.0% | 0.9% |
| Return on assets (ROA) | 1.6% | 1.1% | 0.3% | −2.0% | 1.0% | −0.3% | 0.6% | 0.1% | 1.2% | 1.1% |
| Return on tangible assets | 1.5% | 1.0% | 0.2% | −2.3% | 1.1% | −0.3% | 0.6% | 0.1% | 1.1% | 1.1% |
| Free cash flow margin | 34.2% | 1.8% | −11.7% | 39.7% | 184.0% | — | 153.0% | 58.0% | 79.2% | — |
| Income quality (OCF / net income) | 0.39 | 0.10 | −0.76 | — | 2.06 | — | 1.72 | 8.63 | 1.63 | 2.17 |
| Financial health | ||||||||||
| Total debt | $101.79B | $64.0M | $80.0M | $42.89B | $66.99B | $76.00B | $98.86B | $97.51B | $61.15B | $49.25B |
| Cash & short-term investments | $450.0M | $505.0M | $518.0M | $2.33B | $998.0M | $1.02B | $831.0M | $921.0M | $1.05B | $1.21B |
| Net debt | $101.34B | −$441.0M | −$438.0M | $40.56B | $65.99B | $74.98B | $98.03B | $96.59B | $60.10B | $48.04B |
| Debt / equity | 8.21 | 0.01 | 0.01 | 5.45 | 6.51 | 6.86 | 8.95 | 9.84 | 6.99 | 6.69 |
| Debt / assets | 0.88 | 0.00 | 0.00 | 0.83 | 0.98 | 0.93 | 0.87 | 0.89 | 0.87 | 0.87 |
| Net debt / EBITDA | 21.59 | −0.12 | −0.18 | — | 59.02 | 91.89 | 142.48 | 72.79 | 46.30 | 49.02 |
| Current ratio | 0.02 | 88.08 | 0.01 | 0.22 | 2.50 | 5.60 | 1.96 | 0.23 | 0.75 | 1.12 |
| Quick ratio | 0.02 | 88.08 | −0.02 | 0.01 | −1.32 | −59.61 | −1.06 | 0.23 | 0.92 | 1.12 |
| Interest coverage | 1.6 | 1.3 | 1.1 | -0.9 | 10.0 | -0.4 | 0.3 | 1.1 | 2.5 | 2.5 |
| Working capital | −$100.37B | $18.90B | −$60.80B | −$33.99B | $598.0M | $1.01B | $407.0M | −$76.33B | −$15.61B | $5.88B |
| Invested capital | $113.74B | $9.32B | $7.82B | $48.43B | $76.28B | $86.06B | $109.07B | $106.49B | $68.86B | $55.40B |
| Tangible asset value | $11.87B | $9.24B | $7.73B | $7.34B | $9.77B | $10.55B | $10.52B | $8.85B | $7.65B | $6.25B |
| Net current asset value | −$100.94B | −$59.14B | −$62.82B | −$34.19B | −$56.86B | −$69.51B | −$101.21B | −$76.60B | −$15.96B | $5.42B |
| Graham number | $21.08 | $17.52 | $7.73 | — | $24.85 | — | $24.15 | $12.15 | $34.36 | $30.59 |
| Graham net-net per share | −$87.58 | −$82.56 | −$76.66 | −$59.50 | −$91.02 | −$113.17 | −$171.65 | −$222.13 | −$161.24 | −$145.53 |
| Capital allocation | ||||||||||
| Dividends paid | $1.60B | $1.24B | $1.00B | $869.0M | $860.0M | $970.0M | $1.14B | $974.0M | $795.0M | $799.0M |
| Share buybacks (net) | — | $0 | $0 | $51.0M | $281.0M | $378.0M | $278.0M | $0 | $173.0M | $116.0M |
| Dividend payout ratio | 95.9% | 143.8% | 648.4% | — | 114.8% | — | 165.6% | 755.0% | 103.1% | 128.3% |
| Dividends + buybacks / free cash flow | 245.2% | — | — | 90.8% | 74.1% | 77.2% | 120.1% | 87.5% | 76.8% | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | — |
| Capex / operating cash flow | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 444.0% |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3,001.50 |
| Stock-based compensation / revenue | 1.4% | 0.4% | 1.1% | 0.1% | 2.3% | — | 1.7% | 0.3% | 0.3% | — |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | — |
| SG&A / revenue | 4.6% | 1.5% | 6.2% | 1.6% | 6.5% | — | 6.1% | 2.3% | 2.6% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 3,236.1 | 1,076.2 | 3,330.7 | 1,232.7 | 2,329.8 | — | 2,525.6 | 1,088.3 | 1,259.7 | — |
| Days of inventory on hand | — | — | 20,620.6 | 26,144.4 | 32,781.6 | 10,678.3 | 217.7 | — | -333,397.1 | — |
| Days payables outstanding | — | — | 973.3 | 1,731.3 | 1,283.7 | 441.2 | 80.0 | 2,982.1 | 15,512.5 | 12,410.0 |
| Cash conversion cycle (days) | — | — | 22,978.0 | 25,645.8 | 33,827.6 | — | 2,663.4 | -1,893.7 | -347,649.9 | — |
| Receivables turnover | 0.11 | 0.34 | 0.11 | 0.30 | 0.16 | 0.00 | 0.14 | 0.34 | 0.29 | 0.00 |
| Payables turnover | — | — | 0.38 | 0.21 | 0.28 | 0.83 | 4.56 | 0.12 | 0.02 | 0.03 |
| Inventory turnover | — | — | 0.02 | 0.01 | 0.01 | 0.03 | 1.68 | — | — | — |
| Asset turnover | 0.02 | 0.06 | 0.02 | 0.04 | 0.01 | 0.00 | 0.01 | 0.02 | 0.03 | 0.00 |
| Average receivables | $16.95B | $14.38B | $9.18B | $8.61B | $5.34B | $5.20B | $5.33B | $5.72B | $5.49B | $867.0M |
| Average payables | — | — | $256.0M | $351.0M | $309.5M | $321.5M | $471.0M | $408.5M | $255.0M | $136.0M |
| Average inventory | — | — | $5.42B | $5.30B | $7.90B | $7.78B | $1.28B | — | −$5.48B | $0 |
| Intangibles / total assets | 0.5% | 0.6% | 0.7% | 1.0% | 0.8% | 0.6% | 0.5% | 1.0% | 1.6% | 1.9% |
Computed from AGNC's annual financial statements (latest annual report filed February 23, 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.
AGNC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), AGNC Investment traded at 6.6 times earnings, against a 10-year median of 10.2. Based on the latest twelve months, the trailing P/E is 4.4 and the forward P/E is 6.6. AGNC Investment earned a return on equity of 15.1% and a return on invested capital of 5.8% in fiscal 2025. It ended the year with $101.8 billion of debt and $450.0 million in cash and short-term investments, net debt of $101.3 billion. It returned $1.6 billion to shareholders: $1.6 billion in dividends and $0 in share buybacks, 245% of free cash flow. The share count rose 208.4% from 331.9M to 1.02B over 9 years.
See the AGNC income statement, the AGNC chart for price history, or the AGNC stock overview for the latest quote and news.
AGNC key metrics FAQ
What is AGNC Investment's P/E ratio?
AGNC Investment's trailing P/E ratio is 4.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.6. At the end of fiscal 2025 it was 6.6, compared with a 10-year median of 10.2.
What is AGNC Investment's EV/EBITDA?
AGNC Investment's enterprise value was 23.9 times EBITDA at the end of fiscal 2025 (enterprise value $112.3 billion, EBITDA $4.7 billion).
What is AGNC Investment's return on equity?
AGNC Investment's return on equity (ROE) was 15.1% in fiscal 2025: net income of $1.7 billion on average shareholders' equity of $11.1 billion.
What is AGNC Investment's ROIC?
AGNC Investment's return on invested capital was 5.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does AGNC Investment have?
AGNC Investment had total debt of $101.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 8.21 and $101.3 billion of net debt (21.59 times EBITDA).
What is AGNC Investment's dividend yield?
AGNC Investment's forward dividend yield is 16.51%. AGNC Investment paid $1.6 billion in dividends in fiscal 2025 ($1.56 per share), a payout ratio of 95.9%.
What is AGNC Investment's free cash flow yield?
AGNC Investment generated $653.0 million of free cash flow in fiscal 2025, a free cash flow yield of 6.0% on its market value at year-end ($11.0 billion).
What is AGNC Investment's current ratio?
AGNC Investment's current ratio was 0.02 at the end of fiscal 2025: current assets were 0.02 times current liabilities.