Federal Agricultural Mortgage C (AGM) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Federal Agricultural Mortgage C

NYSE•Financial Services•Credit Services

$223.96+3.31(0.02%)Market open

Market Cap

$2.40B

P/E

10.5x

P/S

5.4x

P/B

1.3x

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through seven segments: Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. The Farm & Ranch segment includes the USDA Securities portfolio, Farm & Ranch loans, and AgVantage securities secured by Farm & Ranch loans. The Corporate AgFinance segment includes loans and AgVantage securities to larger and more complex farming operations, agribusinesses focused on food and fiber processing, and other supply chain production. The Power & Utilities segment includes loans to rural electric generation and transmission cooperatives and distribution cooperatives, as well as AgVantage securities secured by those types of loans. The Broadband Infrastructure segment includes loans to rural fiber, cable/broadband, tower, wireless, local exchange carrier, and data center projects. The Renewable Energy segment includes rural electric, solar, wind, and gas projects. The Funding segment includes debt issuance, hedging, asset/liability management, and capital allocation. The Investments segment includes an investment portfolio, which is held for liquidity purposes. The company is involved in a line of agricultural finance business, including purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in, or obligations secured by pools of eligible loans; servicing eligible loans; and issuing long-term standby purchase commitments for designated eligible loans. Federal Agricultural Mortgage Corporation was incorporated in 1987 and is headquartered in Washington, District Of Columbia.

How this company scores

WeakMetricSide Score: 67/100

Grade capped at D — Interest coverage below 1× (0.2x) — earnings cannot cover interest. Strongest: Profitability (23/25); weakest: Balance Sheet & Red Flags (3/25).

Profitability23/25

Growth21/25

Balance Sheet & Red Flags3/25

Cash & Earnings Quality20/25

Strengths

Rising free cash flowStrong marginsProfit converts from growthConsistent growth

Grade capped at D

Interest coverage below 1× (0.2x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.5x5y range 6.2x – 10.5x

Currently near its 20-quarter median.

P/S · 5.4x5y range 3.6x – 5.9x

Currently near its 20-quarter median.

P/B · 1.3x5y range 0.9x – 1.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 6.2% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $2.40B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $445.56M
Q. Revenue: $125.01M
TTM EBITDA: $257.34M
TTM Op. Income: $257.34M
Q. Op. Income: $74.90M
TTM Net Income: $229.00M
Q. Net Income: $66.95M
EPS: $5.43
Shares Out.: $10.85M

$445.56M in TTM revenue grew 14.6% YoY, reaching $125.01M last quarter. TTM EBITDA of $257.34M and TTM operating income of $257.34M show growth is flowing through to the bottom line. TTM net income of $229.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 59.9%
Op. Margin: 59.9%
Net Margin: 53.6%

Op. margin of 59.9% is up 1.8% YoY — cost efficiency is improving. Net margin at 53.6% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.5x
P/S Ratio: 5.4x
P/B Ratio: 1.3x

At 10.5x P/E, the stock trades below typical market levels. P/S of 5.4x and P/B of 1.3x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 4% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $39.29B
Cash: $1.04B
Long-Term Debt: $21.86B
Book Value: $1.85B
D/E Ratio: 11.8
Debt/EBITDA: 291.9

With $39.29B in assets and $21.86B in long-term debt, D/E is 11.8and book value is $1.85B — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is down 2% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $40.40M
TTM Free Cash Flow: $310.06M
FCF Margin: 69.6%
FCF / Net Income: 1.4

TTM FCF of $310.06M on $40.40M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.