Agree Realty
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
25.0215.6823.3424.4532.5935.5537.7638.9836.6035.2537.1532.59
Price/Sales ratio
8.638.7411.5012.1912.7915.1813.8813.1112.0411.1412.1115.18
Price/Book Value ratio
1.301.351.541.561.531.681.361.391.201.151.331.68
Price/Cash Flow ratio
13.1813.6917.0517.2820.3322.4724.1419.3515.4015.3016.2422.47
Price/Free Cash Flow ratio
13.1813.7117.0517.2820.3322.4724.1419.3515.4015.3016.7522.47
Price/Earnings Growth ratio
-1.390.20-2.534.01-2.434.29-3.7022.8713.10-4.6315.82-2.43
Dividend Yield
5.48%5.39%3.99%3.88%3.56%3.16%3.36%4.10%4.08%4.75%3.90%3.56%
Profitability Indicator Ratios
Gross Profit Margin
90.81%90.88%90.60%89.30%88.52%87.45%87.22%82.02%81.51%55.41%63.23%87.45%
Operating Profit Margin
52.07%57.33%56.27%53.52%49.26%53.92%50.33%52.32%47.08%47.32%48.43%53.92%
Pretax Profit Margin
35.05%56.83%50.03%50.43%40.02%43.36%37.43%34.45%33.65%32.27%32.52%43.36%
Net Profit Margin
34.51%55.76%49.29%49.85%39.25%42.71%36.76%33.62%32.91%31.62%31.62%42.71%
Effective Tax Rate
47.26%2.75%13.95%7.86%0.86%0.66%1.16%1.91%1.83%1.67%2.01%0.86%
Return on Assets
3.11%4.92%4.05%3.88%2.86%3.00%2.35%2.33%2.27%2.18%2.32%3.00%
Return On Equity
5.22%8.64%6.60%6.39%4.70%4.74%3.61%3.57%3.29%3.26%3.64%4.74%
Return on Capital Employed
4.76%5.15%4.72%4.26%3.66%3.90%3.30%3.70%3.30%3.30%3.62%3.90%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.74N/A
Quick Ratio
1.260.692.212.402.110.93-0.01-0.02-0.011.130.740.93
Cash ratio
0.670.181.591.641.510.210.050.490.260.120.070.21
Days of Sales Outstanding
30.7138.6946.0048.4653.0652.1955.5153.6451.8856.3359.6853.06
Days of Inventory outstanding
-20.34-5.60-59.8270.85N/A58.21560.74594.14408.81N/AN/A58.21
Operating Cycle
10.3733.09-13.82119.3153.06110.40616.26647.78460.7056.3359.6853.06
Days of Payables Outstanding
214.15164.84235.36326.88451.55760.50820.65391.03356.9179.21235.07760.50
Cash Conversion Cycle
-203.77-131.75-249.19-207.56-398.48-650.09-204.39256.75103.78-22.87-175.38-398.48
Debt Ratios
Debt Ratio
0.390.400.370.330.360.320.310.320.280.300.320.32
Debt Equity Ratio
0.660.700.600.550.590.510.480.490.410.460.500.51
Long-term Debt to Capitalization
0.380.410.360.350.360.330.320.330.290.310.330.33
Total Debt to Capitalization
0.400.410.370.350.370.340.320.330.290.310.330.34
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A2.90N/A
Cash Flow to Debt Ratio
0.140.130.140.160.120.140.110.140.180.160.160.12
Company Equity Multiplier
1.671.751.621.641.641.571.531.521.451.491.541.57
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.650.630.670.700.620.670.570.670.780.720.720.62
Free Cash Flow / Operating Cash Flow Ratio
10.991111111111
Cash Flow Coverage Ratio
0.140.130.140.160.120.140.110.140.180.160.160.12
Short Term Coverage Ratio
2.33N/A4.405.874.9034.11143.24289.7878.34N/AN/A34.11
Dividend Payout Ratio
137.40%84.55%93.21%94.89%116.27%112.70%127.06%160.15%149.40%167.75%161.57%116.27%