ADC Agree Realty margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 75

Gross margin

87.9%

Operating margin

48.9%

EBITDA margin

82.4%

Net margin

29.8%

Based on the latest figures, Agree Realty reports a gross margin of 87.9%, an operating margin of 48.9%, an EBITDA margin of 82.4%, and a net margin of 29.8%. Operating margin led the available margin improvements with a 2 percentage-point increase, while gross margin fell by 0.1 percentage points.

ADC margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Agree Realty recorded average margins of 88.04% gross, 48.05% operating, 81.36% EBITDA, and 29.96% net. Right now, operating and EBITDA margins are above their three-year averages, while gross and net margins are below their three-year averages.

ADC margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 2 percentage points, EBITDA margin by 1.7 percentage points, and net margin by 1.7 percentage points, but gross margin contracted by 0.1 percentage points.

Gross margin expansion

-0.1pp

Operating margin expansion

2pp

EBITDA margin expansion

1.7pp

Net margin expansion

1.7pp

ADC Gross margin

Across the last 3 years, Agree Realty recorded an average gross margin of 88.04%. Agree Realty's current gross margin is 87.9% and is 0.1 percentage points below its three-year average. The highest gross margin for Agree Realty was 88.3% in Jun 2024, while the lowest was 87.9% in Dec 2023.

ADC Operating margin

Reviewing the last 3 years, Agree Realty recorded an average operating margin of 48.05%. Agree Realty currently reports an operating margin of 48.9%, 0.9 percentage points above its three-year average. The highest operating margin for Agree Realty was 49.3% in Sep 2024, while the lowest was 46.9% in Sep 2025.

ADC EBITDA margin

Over the last 3 years, the average EBITDA margin for Agree Realty was 81.36%. The latest EBITDA margin for Agree Realty is 82.4%, 1 percentage points above its three-year average. Agree Realty's EBITDA margin ranged from a low of 80% in Mar 2024 to a high of 82.5% in Dec 2024.

ADC Net margin

Agree Realty recorded an average net margin of 29.96% across the last 3 years. The current net margin of 29.8% is 0.2 percentage points below its three-year average. During this period, net margin reached a high of 32.1% in Jun 2024 and a low of 28.1% in Sep 2025.

ADC margin group comparison

Margins compared with peer-group, industry and sector averages

Agree Realty's gross margin of 87.9% is higher than the Real Estate sector, the industry and its peers average. Looking at the Real Estate sector average of 62.7%, Agree Realty's gross margin is 40% higher.

ADC margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Agree Realty's gross margin?

As of Sep 30, 2026, ADC has a gross margin of 87.9%.

What is Agree Realty's operating margin?

As of Sep 30, 2026, ADC has an operating margin of 48.9%.

What is Agree Realty's EBITDA margin?

The current EBITDA margin for ADC is 82.4% as of Sep 30, 2026.

What is Agree Realty's net margin?

For the period ending Sep 30, 2026, ADC recorded a net margin of 29.8%.

What are the average margins of ADC?

Over the last 3 years, Agree Realty's margins averaged 88.0% gross, 48.1% operating, 81.4% EBITDA, and 30.0% net.

What are the highest historical margins of ADC?

Looking back across 5 years, ADC reached 88.4% gross in Dec 2021, 56.1% operating in Dec 2021, 82.5% EBITDA in Dec 2024, and 37.1% net in Jun 2022.

What are the lowest historical margins of ADC?

Across the 5-year period, ADC posted its lowest margins at 87.9% gross in Dec 2023, 46.9% operating in Sep 2025, 79.4% EBITDA in Mar 2022, and 28.1% net in Sep 2025.