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Federal Agricultural
(NYSE:AGM)
Federal Agricultural (AGM) vs. SPDR S&P 500 ETF (SPY)
Federal Agricultural Business Overview & Revenue Model
Federal Agricultural Earnings Call Summary
Federal Agricultural Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.48B | 1.62B | 1.42B | 755.02M | 447.70M | 519.84M |
| Gross Profit | 571.38M | 363.69M | 350.20M | 308.31M | 245.88M | 198.84M |
| EBITDA | 446.80M | 258.10M | 253.10M | 225.68M | 172.59M | 137.43M |
| Net Income | 216.00M | 207.19M | 200.00M | 178.14M | 136.09M | 108.65M |
Balance Sheet | ||||||
| Total Assets | 33.38B | 31.32B | 29.52B | 27.33B | 25.15B | 24.36B |
| Cash, Cash Equivalents and Short-Term Investments | 7.58B | 7.00B | 5.87B | 13.05B | 11.07B | 11.84B |
| Total Debt | 29.20B | 29.30B | 27.69B | 25.65B | 23.70B | 23.17B |
| Total Liabilities | 31.69B | 29.84B | 28.11B | 26.06B | 23.94B | 23.36B |
| Stockholders Equity | 1.69B | 1.49B | 1.41B | 1.27B | 1.21B | 992.48M |
Cash Flow | ||||||
| Free Cash Flow | 344.18M | 607.37M | 375.80M | 809.27M | 436.41M | -94.55M |
| Operating Cash Flow | 344.18M | 612.65M | 375.80M | 809.27M | 436.41M | -94.55M |
| Investing Cash Flow | -2.69B | -1.68B | -1.96B | -3.04B | -1.10B | -1.74B |
| Financing Cash Flow | 2.41B | 1.21B | 1.61B | 2.19B | 534.63M | 2.26B |
Federal Agricultural Technical Analysis
Federal Agricultural Risk Analysis
Federal Agricultural Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $3.17B | 11.29 | 23.81% | ― | 21.10% | 76.12% | |
76 Outperform | $1.50B | 3.99 | 18.75% | 4.60% | 8.41% | 34.76% | |
69 Neutral | $2.08B | 20.43 | 7.40% | ― | 9.68% | 94.85% | |
68 Neutral | $1.73B | 9.24 | 13.72% | 3.64% | 27.36% | 12.55% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $2.82B | 3.85 | 97.70% | 10.33% | -2.51% | 17.47% | |
52 Neutral | $2.43B | ― | ― | ― | ― | ― |
Federal Agricultural Corporate Events
Farmer Mac’s recent earnings call painted an optimistic picture of its financial health, marked by record net effective spread and core earnings. The company showcased significant growth in its renewable energy and broadband segments and celebrated a successful preferred stock issuance. However, it also acknowledged challenges such as increased operating expenses and credit provisions. Despite these hurdles, the overall sentiment remained positive, emphasizing continued growth and financial resilience.
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, is a secondary market provider that enhances the accessibility of financing for American agriculture and rural infrastructure, playing a crucial role in supporting liquidity for these sectors.
On November 3, 2025, Farmer Mac reported its third-quarter financial results, highlighting a record net effective spread and core earnings. The company achieved a business volume growth surpassing $31 billion, with a 13% increase in net interest income and a 14% rise in net effective spread compared to the previous year. Farmer Mac maintained a strong capital position, exceeding statutory requirements by 75%, and issued $100 million of Tier 1 capital through a public offering. These results underscore Farmer Mac’s robust financial health and strategic agility in a dynamic market, benefiting stakeholders by ensuring continued support for rural infrastructure and agriculture.
The most recent analyst rating on (AGM) stock is a Hold with a $199.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On September 30, 2025, the White House nominated Jeffrey Kaufmann to the Federal Agricultural Mortgage Corporation’s Board of Directors, replacing Chester Culver. Culver, who had rejoined the Board in May 2022, was informed that his position had ended effective immediately. His departure marks the end of his roles as chair of the Public Policy and Corporate Social Responsibility Committee and as a member of other key committees. Farmer Mac expressed gratitude for Culver’s contributions during his tenure.
The most recent analyst rating on (AGM) stock is a Hold with a $199.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On September 30, 2025, the White House nominated Jeffrey Kaufmann to the Federal Agricultural Mortgage Corporation’s Board of Directors, replacing Chester Culver. Culver, who had rejoined the Board in May 2022, was informed that his position had ended effective immediately. His departure marks the end of his roles as chair of the Public Policy and Corporate Social Responsibility Committee and as a member of other key committees. Farmer Mac expressed gratitude for Culver’s contributions during his tenure.
The most recent analyst rating on (AGM) stock is a Hold with a $199.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On September 25, 2025, Farmer Mac announced the retirement of its CEO, Bradford T. Nordholm, effective March 31, 2027. Concurrently, Zachary N. Carpenter was appointed as the new President and Chief Operating Officer, with plans to succeed Nordholm as CEO by April 1, 2027. Carpenter, who has been with Farmer Mac since 2019, brings extensive experience from previous roles at CoBank, Goldman Sachs, and Johnson & Johnson. The transition is part of a strategic leadership change, with Carpenter’s compensation and employment terms outlined to ensure continuity and stability in Farmer Mac’s operations.
The most recent analyst rating on (AGM) stock is a Hold with a $199.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On September 25, 2025, Farmer Mac announced the planned retirement of its CEO, Bradford T. Nordholm, effective March 31, 2027. The company also appointed Zachary N. Carpenter as President and COO, who will succeed Nordholm as CEO, indicating a strategic leadership transition aimed at ensuring continuity and stability in its operations.
The most recent analyst rating on (AGM) stock is a Hold with a $199.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On September 10, 2025, Farmer Mac’s Board of Directors declared a quarterly dividend for its 6.500% Non-Cumulative Preferred Stock, Series H, amounting to $0.2347222 per share. This dividend covers the period from August 25, 2025, to October 17, 2025, and will be payable on October 17, 2025, to shareholders of record as of October 1, 2025. This announcement follows a previous declaration of dividends on other classes of common and preferred stock on August 14, 2025, indicating Farmer Mac’s ongoing commitment to returning value to its shareholders.
The most recent analyst rating on (AGM) stock is a Hold with a $220.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On August 25, 2025, Farmer Mac completed the issuance of 4,000,000 shares of 6.500% Non-Cumulative Preferred Stock, Series H, through an exempt public offering. This strategic financial move, executed with RBC Capital Markets, LLC, is likely to strengthen Farmer Mac’s capital base and enhance its ability to support agricultural lending, potentially impacting its market position and stakeholders positively.
The most recent analyst rating on (AGM) stock is a Hold with a $211.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
On August 18, 2025, Farmer Mac announced the retirement of its Executive Vice President – General Counsel and Secretary, Stephen Mullery, effective April 3, 2026, after 25 years of service. Geraldine Hayhurst will succeed him as Executive Vice President – Chief Legal Officer and Secretary starting September 8, 2025. The transition plan includes a transition agreement ensuring Mr. Mullery’s advisory role and compensation until his retirement. This leadership change is expected to maintain Farmer Mac’s commitment to ethical governance and operational strength, with Ms. Hayhurst bringing extensive legal and strategic experience to the role.
The most recent analyst rating on (AGM) stock is a Hold with a $205.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.
Farmer Mac’s recent earnings call painted a picture of robust financial health and strategic growth, tempered by some challenges. The company reported record-breaking financial results, driven by significant growth in diversified portfolio segments, particularly in infrastructure and renewable energy. However, the call also highlighted increased operating expenses and credit provisions as areas of concern, alongside uncertainties in the renewable energy market due to policy changes.
The Federal Agricultural Mortgage Corporation, commonly known as Farmer Mac, operates as a secondary market provider that enhances the availability of financing to support American agriculture and rural infrastructure. The company is a key player in the financial services sector, offering liquidity solutions to agricultural and infrastructure businesses across the United States.
On August 7, 2025, Farmer Mac announced record results for the second quarter of 2025, with core earnings and net effective spread growing by 19% and 12% year-over-year, respectively. The company surpassed $30 billion in total outstanding business volume for the first time, reflecting a strong capital position and diversified portfolio, while increasing its share repurchase program authorization to $50 million.
The most recent analyst rating on (AGM) stock is a Hold with a $205.00 price target. To see the full list of analyst forecasts on Federal Agricultural stock, see the AGM Stock Forecast page.