Federal Agricultural Mortgage (AGM)
Market Price (2/26/2026): $162.5 | Market Cap: $1.8 BilSector: Financials | Industry: Consumer Finance
Federal Agricultural Mortgage (AGM)
Market Price (2/26/2026): $162.5Market Cap: $1.8 BilSector: FinancialsIndustry: Consumer Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.9%, FCF Yield is 19% | Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -43% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1622% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 86%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 86% | Key risksAGM key risks include [1] heightened credit losses driven by the inherent volatility of the agricultural sector and loan portfolio concentrations, Show more. | |
| Low stock price volatilityVol 12M is 33% | ||
| Megatrend and thematic driversMegatrends include Agricultural & Rural Financial Systems. Themes include Agricultural Mortgage Finance, and Rural Capital Access. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.9%, FCF Yield is 19% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 86%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 86% |
| Low stock price volatilityVol 12M is 33% |
| Megatrend and thematic driversMegatrends include Agricultural & Rural Financial Systems. Themes include Agricultural Mortgage Finance, and Rural Capital Access. |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -43% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1622% |
| Key risksAGM key risks include [1] heightened credit losses driven by the inherent volatility of the agricultural sector and loan portfolio concentrations, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Mixed Q4 2025 Financial Results: While Federal Agricultural Mortgage reported record full-year 2025 revenue of $410 million (up 13%) and core earnings of $183 million, its Q4 2025 earnings per share of $3.66 missed the Zacks Consensus Estimate of $4.50 by 18.58%. This combination of strong annual performance, a raised quarterly dividend to $1.60 per share, and a quarterly earnings miss likely created a balanced sentiment, preventing significant stock price movement in either direction.
2. Significant Business Volume Growth Counterbalanced by Elevated Credit Loss Provisions: The company achieved a record net new business volume of $3.8 billion in 2025, increasing total outstanding business volume to $33.4 billion at year-end, driven by growth in Infrastructure Finance, Farm & Ranch, and AgVantage segments. However, this growth was accompanied by a notable rise in the provision for credit losses, totaling $32.9 million for the year, with $19.6 million attributed to specific credit deteriorations within its Corporate AgFinance and Broadband Infrastructure portfolios. This indicates a trade-off between strong growth and increasing credit risks, contributing to the stock's stable trend.
Show more
Stock Movement Drivers
Fundamental Drivers
The 3.3% change in AGM stock from 10/31/2025 to 2/26/2026 was primarily driven by a 3.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 157.33 | 162.50 | 3.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 389 | 402 | 3.6% |
| Net Income Margin (%) | 54.3% | 53.7% | -1.1% |
| P/E Multiple | 8.2 | 8.2 | 0.8% |
| Shares Outstanding (Mil) | 11 | 11 | 0.0% |
| Cumulative Contribution | 3.3% |
Market Drivers
10/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| AGM | 3.1% | |
| Market (SPY) | 1.1% | 5.8% |
| Sector (XLF) | 0.2% | 16.5% |
Fundamental Drivers
The -4.2% change in AGM stock from 7/31/2025 to 2/26/2026 was primarily driven by a -9.6% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 169.55 | 162.50 | -4.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 376 | 402 | 7.1% |
| Net Income Margin (%) | 54.0% | 53.7% | -0.7% |
| P/E Multiple | 9.1 | 8.2 | -9.6% |
| Shares Outstanding (Mil) | 11 | 11 | -0.3% |
| Cumulative Contribution | -4.2% |
Market Drivers
7/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| AGM | -4.3% | |
| Market (SPY) | 9.4% | 9.5% |
| Sector (XLF) | 0.6% | 25.4% |
Fundamental Drivers
The -15.2% change in AGM stock from 1/31/2025 to 2/26/2026 was primarily driven by a -21.8% change in the company's P/E Multiple.| (LTM values as of) | 1312025 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 191.57 | 162.50 | -15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 359 | 402 | 12.2% |
| Net Income Margin (%) | 55.3% | 53.7% | -2.9% |
| P/E Multiple | 10.5 | 8.2 | -21.8% |
| Shares Outstanding (Mil) | 11 | 11 | -0.5% |
| Cumulative Contribution | -15.2% |
Market Drivers
1/31/2025 to 2/26/2026| Return | Correlation | |
|---|---|---|
| AGM | -15.3% | |
| Market (SPY) | 15.5% | 37.8% |
| Sector (XLF) | 3.1% | 43.3% |
Fundamental Drivers
The 33.7% change in AGM stock from 1/31/2023 to 2/26/2026 was primarily driven by a 37.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312023 | 2262026 | Change |
|---|---|---|---|
| Stock Price ($) | 121.50 | 162.50 | 33.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 292 | 402 | 37.8% |
| Net Income Margin (%) | 57.7% | 53.7% | -7.0% |
| P/E Multiple | 7.8 | 8.2 | 5.7% |
| Shares Outstanding (Mil) | 11 | 11 | -1.2% |
| Cumulative Contribution | 33.7% |
Market Drivers
1/31/2023 to 2/26/2026| Return | Correlation | |
|---|---|---|
| AGM | 33.5% | |
| Market (SPY) | 75.9% | 42.7% |
| Sector (XLF) | 50.2% | 53.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AGM Return | 73% | -6% | 75% | 6% | -8% | -9% | 153% |
| Peers Return | 40% | -17% | 13% | 34% | 26% | -1% | 119% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| AGM Win Rate | 67% | 42% | 75% | 33% | 58% | 0% | |
| Peers Win Rate | 67% | 42% | 55% | 60% | 63% | 20% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| AGM Max Drawdown | 0% | -25% | 0% | -10% | -19% | -15% | |
| Peers Max Drawdown | -3% | -28% | -20% | -6% | -18% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JPM, BAC, WFC, PNC, USB. See AGM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/26/2026 (YTD)
How Low Can It Go
| Event | AGM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -33.7% | -25.4% |
| % Gain to Breakeven | 50.8% | 34.1% |
| Time to Breakeven | 236 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -48.5% | -33.9% |
| % Gain to Breakeven | 94.2% | 51.3% |
| Time to Breakeven | 328 days | 148 days |
| 2018 Correction | ||
| % Loss | -42.6% | -19.8% |
| % Gain to Breakeven | 74.2% | 24.7% |
| Time to Breakeven | 814 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -93.3% | -56.8% |
| % Gain to Breakeven | 1385.9% | 131.3% |
| Time to Breakeven | 1,544 days | 1,480 days |
Compare to JPM, BAC, WFC, PNC, USB
In The Past
Federal Agricultural Mortgage's stock fell -33.7% during the 2022 Inflation Shock from a high on 11/8/2021. A -33.7% loss requires a 50.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Federal Agricultural Mortgage (AGM)
AI Analysis | Feedback
```htmlThe Fannie Mae or Freddie Mac of farm and rural utility loans.
```AI Analysis | Feedback
- Agricultural Real Estate and Rural Utility Loan Purchases: Farmer Mac purchases qualified agricultural real estate and rural utility loans from originators, providing liquidity and capital to lenders.
- Agricultural Real Estate and Rural Utility Loan Guarantees: Farmer Mac guarantees the timely payment of principal and interest on eligible agricultural real estate and rural utility loans, enhancing their credit quality for investors.
- Standby Letters of Credit: Farmer Mac issues standby letters of credit to provide credit enhancement for bonds and other obligations related to agriculture and rural utilities.
AI Analysis | Feedback
Federal Agricultural Mortgage (symbol: AGM), also known as Farmer Mac, primarily sells its financial products and services to other companies, specifically a broad network of agricultural and rural housing lenders.
Farmer Mac operates as a government-sponsored enterprise (GSE) that provides a secondary market for agricultural real estate and rural housing mortgage loans. Its customers are the financial institutions that originate these loans and seek to sell them to Farmer Mac, or use them as collateral for securities guaranteed by Farmer Mac, to manage their capital and liquidity.
Farmer Mac's business model involves serving a diverse and extensive network of lenders rather than relying on a few dominant major customers. As such, Farmer Mac does not publicly disclose a list of specific "major customer companies" by name. However, the types of financial institutions that utilize Farmer Mac's services include:
- Commercial Banks: This includes a wide range of institutions from small community banks to larger regional banks that originate agricultural and rural housing loans.
- Farm Credit System Institutions: These are a nationwide network of borrower-owned lending institutions that specialize in providing credit to farmers, ranchers, and rural businesses.
- Credit Unions: Some credit unions that serve rural communities and offer agricultural or rural housing loans are also Farmer Mac customers.
- Insurance Companies: Certain insurance companies that are involved in agricultural lending or investment also utilize Farmer Mac's services.
- Other Non-Bank Agricultural Lenders: Various other financial institutions specializing in agricultural finance also participate in Farmer Mac's programs.
AI Analysis | Feedback
AI Analysis | Feedback
Bradford T. Nordholm, Chief Executive Officer
Bradford T. Nordholm was appointed Chief Executive Officer of Federal Agricultural Mortgage Corporation (Farmer Mac) in October 2018. Under his leadership, Farmer Mac has seen its annual earnings double, its outstanding business volume grow to over $30 billion, and has delivered top-tier total shareholder returns among S&P Financials. He is slated to retire on March 31, 2027.
Zachary N. Carpenter, President and Principal Operating Officer
Zachary N. Carpenter was appointed President and Chief Operating Officer in September 2025, with plans to succeed Bradford T. Nordholm as CEO upon Nordholm's retirement in March 2027. He joined Farmer Mac in May 2019 and previously held roles with increasing responsibility at Johnson & Johnson, Goldman Sachs, and CoBank. Mr. Carpenter has been instrumental in diversifying Farmer Mac's loan portfolio into new business segments, including renewable energy, broadband infrastructure, and corporate agribusiness.
Gregory N. Ramsey, Vice President, Controller, Principal Accounting Officer and Interim Chief Financial Officer
Gregory N. Ramsey was appointed interim principal financial officer for Farmer Mac effective August 1, 2025, following the resignation of the previous CFO. He has served as Farmer Mac's principal accounting officer since October 2013, was promoted to Vice President – Controller in May 2018, and to his current role as Vice President and Chief Accounting Officer in April 2023. Mr. Ramsey previously served as interim principal financial officer from July 2019 through January 2020. Prior to joining Farmer Mac, he held positions as a Senior Manager at PricewaterhouseCoopers from 2010 to 2013, Vice President of Accounting Policy at Fannie Mae from 2004 to 2010, and Professional Accounting Fellow at the Office of the Comptroller of the Currency from 2002 to 2004. He is a Certified Public Accountant.
Kerry T. Willie, Senior Vice President and Chief Human Resources Officer
Kerry T. Willie serves as Senior Vice President and Chief Human Resources Officer for Federal Agricultural Mortgage Corporation. Further detailed background information beyond her title at Farmer Mac was not available in the provided search results.
Marc J. Crady, Senior Vice President and Chief Credit Officer
Marc J. Crady holds the position of Senior Vice President and Chief Credit Officer at Federal Agricultural Mortgage Corporation. Further detailed background information beyond his title at Farmer Mac was not available in the provided search results.
AI Analysis | Feedback
Federal Agricultural Mortgage (symbol: AGM), also known as Farmer Mac, faces several key risks inherent to its business as a Government-Sponsored Enterprise (GSE) in the agricultural finance sector. The most significant risks include credit risk, interest rate risk, and risks related to its regulatory and governmental relationship.Key Risks for Federal Agricultural Mortgage (AGM):
1. Credit Risk: As a financial institution providing a secondary market for agricultural loans, Farmer Mac is highly susceptible to credit risk. A decline in the value of collateral securing its loans or a decrease in the financial health of its borrowers could lead to increased losses in the event of default. This risk is exacerbated by concentrations in its loan portfolio, which may be tied to specific commodities, geographic regions, or collateral types. Economic stressors within the agricultural sector, such as fluctuating farm incomes, volatile commodity prices, and adverse weather conditions like droughts or floods, can directly impair borrowers' repayment capacity and reduce collateral values. While Farmer Mac typically maintains low loan-to-value (LTV) ratios on its loans, sustained credit losses could significantly impact its financial condition. The company continuously monitors market conditions to adjust its operations and mitigate these credit risks.
2. Interest Rate Risk: Fluctuations in interest rates pose a substantial risk to Farmer Mac's net interest income, liquidity, and overall financial performance. The timing differences between the cash flows of its assets and liabilities create exposure to interest rate changes, which can lead to volatility in financial results and capital levels. Significant shifts in interest rates may also necessitate Farmer Mac to post additional collateral, thereby affecting its liquidity position. The company employs financial derivatives to hedge against these interest rate risks, but these measures do not eliminate all potential for volatility.
3. Regulatory and Governmental Relationship Risk: As a Government-Sponsored Enterprise, Farmer Mac's operations are closely tied to its federal charter and regulatory framework. Any adverse changes to its GSE status or new governmental laws and regulations could have a material impact on its business model, competitive landscape, and capital requirements. Farmer Mac's charter also limits its business activities to secondary market operations, which influences its competitive standing. Historically, there has also been some uncertainty surrounding its line of credit with the U.S. Treasury, highlighting the sensitivity of its business to governmental support and policy.
AI Analysis | Feedback
nullAI Analysis | Feedback
The Federal Agricultural Mortgage Corporation (AGM), commonly known as Farmer Mac, operates in the secondary market for agricultural real estate mortgage loans, rural housing mortgage loans, and rural utility cooperative loans within the United States. The addressable markets for its main products and services in the U.S. are as follows:Agricultural Real Estate Mortgage Loans
The addressable market for agricultural real estate debt in the U.S. is substantial and has shown consistent growth. This market covers loans secured by farm and ranch real estate.
- In 2021, U.S. farm real estate debt amounted to $345 billion.
- Forecasts indicated that debt tied to real estate could reach $375.9 billion in 2023.
- The USDA Economic Research Service estimated that the inflation-adjusted volume of all farm loans secured by real estate exceeded $353 billion in 2023 and is expected to increase to nearly $360 billion in 2024.
- Looking ahead, farm real estate debt is projected to reach $386.4 billion in 2025.
Agricultural Non-Real Estate (Operating) Loans
This market segment includes financing for agricultural businesses, encompassing operating loans and other non-real estate-backed agricultural debt, under which Farmer Mac's Corporate AgFinance product falls.
- Total U.S. farm sector debt in 2021 was $503.7 billion. Of this, farm real estate debt was $344.5 billion, implying that non-real estate (operating) debt was approximately $159.2 billion.
- Non-real estate debt was projected at $158.6 billion in 2018.
- Farm non-real estate debt is expected to reach $205.4 billion in 2025.
Rural Utilities Loans (including Rural Infrastructure, Broadband, and Renewable Energy)
Farmer Mac provides financing for rural electric cooperatives, telecommunications providers, and water/wastewater facilities, as well as broader rural infrastructure, broadband, and renewable energy projects. While a singular aggregated market size for all private lending in this diverse sector is not readily available, significant government investment and Farmer Mac's business volumes highlight the scale of this market in the U.S.
- The Rural Utilities Service (RUS) approved $1.6 billion in long-term financing for rural utility projects across 21 states in 2020.
- In 2023, the U.S. Department of Agriculture (USDA) announced nearly $11 billion in grants and loan opportunities for rural energy and utility providers, with $9.7 billion specifically for eligible rural electric cooperatives through the "Empowering Rural America (New ERA) program" and $1 billion for the "Powering Affordable Clean Energy (PACE) program" to finance renewable energy projects.
- In 2015, RUS committed $3.4 billion in loans and loan guarantees, with an expectation of $6.25 billion in 2016 for generation, transmission, and distribution infrastructure.
AI Analysis | Feedback
Expected drivers of future revenue growth for Federal Agricultural Mortgage (AGM) over the next 2-3 years include:
- Expansion of Infrastructure Finance: Federal Agricultural Mortgage is experiencing continued growth in its infrastructure finance segments, particularly in broadband, renewable energy, data centers, and power and utility projects. This growth is driven by increasing demand for rural connectivity and energy needs, contributing significantly to new business volume.
- Growth in Higher-Spread Farm & Ranch Loan Purchases: The company has observed strong loan purchase volume in its Farm & Ranch segment, which is generally more accretive and carries higher spreads. This shift in business composition to higher-spread activities is a key contributor to increased net effective spread.
- New AgVantage Security and Farm Securitization Transactions: Federal Agricultural Mortgage is pursuing new AgVantage security and farm securitization transactions to address ongoing demand in agricultural finance. These transactions are designed to support future funding opportunities and enhance the company's market offerings.
- Strategic Diversification of the Loan Portfolio: A key strategic decision for Federal Agricultural Mortgage has been to diversify its loan portfolio into newer lines of business, such as renewable energy, broadband infrastructure, and corporate Ag finance. This diversification strategy is intended to leverage competitive advantages and mitigate risks across varying market cycles, contributing to overall revenue growth.
AI Analysis | Feedback
Share Repurchases
- The board of directors authorized up to $50 million in share repurchases through August 2027.
- Federal Agricultural Mortgage Corporation had not repurchased shares since a small tranche in 2020, as of September 2025.
- Subsequent to the third quarter of 2025, the company repurchased approximately 30,000 shares of Class C common stock for a total amount of about $5 million.
Share Issuance
- Federal Agricultural Mortgage Corporation successfully issued $100 million of Series H preferred stock in August 2025, which increased its Tier 1 capital.
Capital Expenditures
- Federal Agricultural Mortgage Corporation has been making investments in technology, business platforms, and human capital to support long-term growth and scalability.
Latest Trefis Analyses
Trade Ideas
Select ideas related to AGM.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 01302026 | FDS | FactSet Research Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -18.8% | -18.8% | -25.3% |
| 01302026 | PFSI | PennyMac Financial Services | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -6.9% | -6.9% | -9.3% |
| 01302026 | ALLY | Ally Financial | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | -1.9% | -1.9% | -5.5% |
| 01232026 | FIS | Fidelity National Information Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -18.9% | -18.9% | -22.6% |
| 01022026 | MORN | Morningstar | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -18.1% | -18.1% | -26.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 124.10 |
| Mkt Cap | 177.5 |
| Rev LTM | 55,814 |
| Op Inc LTM | - |
| FCF LTM | 2,886 |
| FCF 3Y Avg | 8,343 |
| CFO LTM | 2,886 |
| CFO 3Y Avg | 8,343 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 5.9% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.9% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 29.6% |
| CFO/Rev 3Y Avg | 35.5% |
| FCF/Rev LTM | 29.6% |
| FCF/Rev 3Y Avg | 35.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 177.5 |
| P/S | 3.7 |
| P/EBIT | - |
| P/E | 12.8 |
| P/CFO | 5.7 |
| Total Yield | 10.2% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 11.0% |
| D/E | 0.8 |
| Net D/E | -0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.1% |
| 3M Rtn | -0.2% |
| 6M Rtn | 4.5% |
| 12M Rtn | 19.9% |
| 3Y Rtn | 60.6% |
| 1M Excs Rtn | -0.2% |
| 3M Excs Rtn | -1.0% |
| 6M Excs Rtn | -1.7% |
| 12M Excs Rtn | 4.4% |
| 3Y Excs Rtn | -11.1% |
Segment Financials
Assets by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Farm & Ranch | 18,809 | 14,624 | 13,112 | 12,374 | 5,408 |
| Power & Utilities | 6,980 | 5,868 | 5,345 | 4,761 | 1,717 |
| Unallocated assets | 5,764 | ||||
| Corporate AgFinance | 1,694 | 1,541 | 1,508 | 1,664 | |
| Broadband Infrastructure | 501 | ||||
| Renewable Energy | 488 | 220 | 88 | 73 | |
| Funding | 0 | 0 | |||
| Investments | 0 | 4,806 | 5,013 | 5,441 | |
| Off-balance sheet assets under management | -4,710 | ||||
| Corporate | 275 | 56 | 43 | 3,665 | |
| Reconciling Adjustments | 0 | ||||
| Institutional Credit | 8,607 | ||||
| United States Department of Agriculture (USDA) Guarantees | 2,312 | ||||
| Total | 29,524 | 27,333 | 25,121 | 24,356 | 21,709 |
Price Behavior
| Market Price | $162.24 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 08/18/1995 | |
| Distance from 52W High | -21.4% | |
| 50 Days | 200 Days | |
| DMA Price | $172.78 | $176.77 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | -6.1% | -8.2% |
| 3M | 1YR | |
| Volatility | 38.7% | 32.9% |
| Downside Capture | -1.41 | 78.57 |
| Upside Capture | -34.90 | 46.86 |
| Correlation (SPY) | 2.6% | 40.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.19 | 1.01 | 0.64 | 0.50 | 0.70 | 0.90 |
| Up Beta | 3.34 | 2.43 | 0.78 | 1.30 | 0.73 | 0.91 |
| Down Beta | 0.84 | 0.92 | 0.13 | 0.02 | 0.61 | 0.87 |
| Up Capture | 40% | 62% | 106% | 37% | 50% | 67% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 19 | 31 | 62 | 113 | 380 |
| Down Capture | 154% | 96% | 70% | 58% | 92% | 98% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 22 | 30 | 63 | 138 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AGM | |
|---|---|---|---|---|
| AGM | -17.9% | 32.8% | -0.56 | - |
| Sector ETF (XLF) | 4.1% | 19.7% | 0.09 | 45.5% |
| Equity (SPY) | 17.1% | 19.4% | 0.69 | 40.2% |
| Gold (GLD) | 79.3% | 25.7% | 2.25 | -11.1% |
| Commodities (DBC) | 10.9% | 16.8% | 0.45 | 4.1% |
| Real Estate (VNQ) | 6.6% | 16.6% | 0.21 | 37.2% |
| Bitcoin (BTCUSD) | -23.4% | 45.1% | -0.46 | 11.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AGM | |
|---|---|---|---|---|
| AGM | 18.0% | 30.2% | 0.59 | - |
| Sector ETF (XLF) | 12.0% | 18.8% | 0.51 | 59.5% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 47.7% |
| Gold (GLD) | 23.6% | 17.2% | 1.12 | -0.8% |
| Commodities (DBC) | 10.8% | 19.0% | 0.45 | 7.7% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.19 | 43.2% |
| Bitcoin (BTCUSD) | 4.0% | 57.0% | 0.29 | 19.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AGM | |
|---|---|---|---|---|
| AGM | 21.7% | 34.8% | 0.66 | - |
| Sector ETF (XLF) | 14.0% | 22.2% | 0.58 | 57.5% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 48.5% |
| Gold (GLD) | 15.1% | 15.6% | 0.81 | -2.7% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 13.3% |
| Real Estate (VNQ) | 6.6% | 20.7% | 0.28 | 42.1% |
| Bitcoin (BTCUSD) | 66.3% | 66.8% | 1.06 | 13.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/19/2026 | -14.1% | -6.8% | |
| 11/3/2025 | 4.7% | 3.0% | 11.3% |
| 8/7/2025 | 3.3% | 9.4% | 18.3% |
| 5/9/2025 | 4.7% | 10.8% | 7.9% |
| 2/21/2025 | 6.3% | 3.1% | -1.4% |
| 11/4/2024 | 6.2% | 17.2% | 18.6% |
| 8/5/2024 | -6.0% | -5.0% | 0.6% |
| 5/6/2024 | -4.6% | -7.6% | -10.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 15 |
| # Negative | 11 | 10 | 9 |
| Median Positive | 3.7% | 5.8% | 7.9% |
| Median Negative | -5.5% | -4.6% | -8.1% |
| Max Positive | 8.0% | 17.2% | 20.4% |
| Max Negative | -14.1% | -9.1% | -26.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ramsey, Gregory | Principal Accounting Officer | Direct | Sell | 8282025 | 206.71 | 1,500 | 310,065 | 637,701 | Form |
| 2 | Nordholm, Bradford T | President and CEO | Direct | Sell | 8282025 | 206.12 | 4,224 | 870,649 | 6,754,629 | Form |
| 3 | Carpenter, Zachary | EVP - Chief Business Officer | Direct | Sell | 8282025 | 205.09 | 293 | 60,090 | 2,159,972 | Form |
| 4 | Nordholm, Bradford T | President and CEO | Direct | Sell | 6122025 | 191.28 | 8,102 | 1,549,754 | 7,076,315 | Form |
| 5 | McKissack, Eric T | Direct | Sell | 6092025 | 192.37 | 728 | 140,046 | 453,420 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.