FEDERAL AGRICULTURAL MORTGAGE CORP AGM

Financials SIC 6111 - Federal & Federally-Sponsored Credit Agencies NAICS Finance and Insurance › Credit Intermediation and Related Activities › Nondepository Credit Intermediation › Other Nondepository Credit Intermediation derived NYSE

Farmer Mac is a stockholder-owned, federally chartered corporation that combines private capital and public sponsorship to serve a public purpose. Congress has charged Farmer Mac, in our charter, with the mission of providing a secondary market for a variety of loans made to borrowers in rural America. A secondary market is an economic arrangement in which the owners of financial assets, such as the originators of loans, may sell all or part of those assets or pay a fee to offset some or all of the inherent risks of holding the assets. To fulfill our mission to increase the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, our secondary market activities include:

Last close 199.64 2026-10-23
Market cap $2.17B estimated share count
52-week range 136.57 - 248.28

Valuation FY2025 figures against the last close

P/S1.3x
P/E12.0x
P/FCF27.1x
EV/EBITDA—
Dividend yield—
Diluted EPS16.62

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.61B$1.60B$1.39B$716.8M$426.0M$508.8M$645.1M$544.3M$400.5M$311.9M
SG&A $44.6M$38.2M$35.0M$29.8M$27.5M$22.0M$20.3M$19.7M$16.0M$15.1M
Interest expense $390.7M$353.9M$327.5M$270.9M$204.0M$312.9M$472.0M$369.8M$242.9M$171.6M
Pre-tax income $255.7M$258.1M$253.1M$225.7M$172.5M$144.7M$138.7M$136.0M$130.7M$119.4M
Income tax $48.3M$50.9M$53.1M$47.5M$36.4M$30.3M$29.1M$27.9M$46.4M$42.1M
Net income $207.4M$207.2M$200.0M$178.1M$136.1M$114.4M$109.5M$108.1M$84.5M$77.3M
EPS, basic 16.7316.5915.9714.0010.368.858.768.916.736.12
EPS, diluted 16.6216.4415.8113.8710.278.808.698.836.605.97
Shares, diluted (wtd. avg.) 11.0M11.0M10.9M10.9M10.8M10.8M10.8M10.7M10.8M10.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $931.1M$1.02B$888.7M$861.0M$908.8M$1.03B$604.4M$425.3M$302.0M$265.2M
Total assets $35.37B$31.32B$29.52B$27.33B$25.12B$24.33B$21.71B$18.69B$17.79B—
Short-term debt $11.27B$10.44B$8.09B$8.03B$6.99B$10.75B$10.02B$7.76B——
Long-term debt $19.54B$27.52B$26.59B$25.00B$22.76B$11.05B$9.07B$8.49B——
Total liabilities $33.65B$29.84B$28.11B$26.06B$23.91B$23.36B$20.91B$17.94B——
Retained earnings $1.05B$943.2M$823.7M$698.5M$588.6M$509.6M$457.0M$393.4M——
Total equity $1.72B$1.49B$1.41B$1.27B$1.21B$997.9M$799.0M$752.6M$708.6M$643.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $80.1M$612.6M$375.8M$809.3M$436.4M-$94.5M-$19.7M$200.0M$175.0M$212.7M
Stock-based compensation $8.3M$8.1M$6.8M$4.6M$4.3M$4.1M$2.3M$2.5M$2.7M$3.3M
Capital expenditure $0$5.3M$0$0——————
Investing cash flow -$3.81B-$1.68B-$1.96B-$3.04B-$1.10B-$1.74B-$2.38B-$591.5M-$1.84B-$593.4M
Financing cash flow $3.64B$1.21B$1.61B$2.19B$534.6M$2.26B$2.58B$514.7M$1.70B-$564.1M
Buybacks $12.9M$0$0$0$0$235.0K$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000845877-26-000078.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B 2B Revenue, FY2016: 311.9M Net income, FY2016: 77.3M Revenue, FY2017: 400.5M Net income, FY2017: 84.5M Revenue, FY2018: 544.3M Net income, FY2018: 108.1M Revenue, FY2019: 645.1M Net income, FY2019: 109.5M Revenue, FY2020: 508.8M Net income, FY2020: 114.4M Revenue, FY2021: 426M Net income, FY2021: 136.1M Revenue, FY2022: 716.8M Net income, FY2022: 178.1M Revenue, FY2023: 1.4B Net income, FY2023: 200M Revenue, FY2024: 1.6B Net income, FY2024: 207.2M Revenue, FY2025: 1.6B Net income, FY2025: 207.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $311.9M $400.5M $544.3M $645.1M $508.8M $426.0M $716.8M $1.39B $1.60B $1.61B
Gross profit — — — — — — — — — —
Net income $77.3M $84.5M $108.1M $109.5M $114.4M $136.1M $178.1M $200.0M $207.2M $207.4M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.