What is Agree Realty's net debt?

Agree Realty (ADC) reported net debt of $3.77B in Q1 2026.

How has Agree Realty's net debt changed year-over-year?

Agree Realty's net debt increased by 31832.5% year-over-year, from $11.79M to $3.77B.

What is the long-term trend for Agree Realty's net debt?

Over 5 years (2020 to 2025), Agree Realty's net debt has grown at a -24.4% compound annual growth rate (CAGR), from $10.73M to $2.66M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Agree Realty ADC Net debt

Discontinued — last reported Q1 '26

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LAD

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Other financials

Income statement

See full

Revenue$200.8M+18.7%

Operating income$98.6M+25.2%

Net income$62.1M+32.0%

EPS (diluted)$0.50+19.0%

Balance sheet

See full

Cash & equivalents$31.2M+179%

Total debt$3.8B+16,437%

Total equity$6.2B+10.5%

Total assets$10.2B+15.7%

Cash flow

See full

Operating cash flow$145.2M+14.6%

Valuation

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Market cap$8.8B+9.3%

Enterprise value$12.56B+54.6%

P/E40.1×-2.0×

P/S11.7×-0.9×

Profitability

See full

Operating margin48%-0.7pp

Net margin29.3%-0.8pp

Returns & leverage

See full

Return on equity3.7%+0.2pp

Debt / equity0.6×+0.6×

Where this comes from

Calculated from Agree Realty’s reported figures.

$3.8Btotal debt−$31.2Mcash and equivalents=$3.77B

The official record: Agree Realty’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Agree Realty's net debt?: Agree Realty (ADC) reported net debt of $3.77B in Q1 2026.
How has Agree Realty's net debt changed year-over-year?: Agree Realty's net debt increased by 31832.5% year-over-year, from $11.79M to $3.77B.
What is the long-term trend for Agree Realty's net debt?: Over 5 years (2020 to 2025), Agree Realty's net debt has grown at a -24.4% compound annual growth rate (CAGR), from $10.73M to $2.66M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.