Filing Flows › Agree Realty (ADC) › How it makes money
How Agree Realty (ADC) makes money
Agree Realty (ADC) made $214M of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Of every dollar of revenue, 51¢ was left as operating profit, 32¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $214M | 100.0% |
| Operating profit | $110M | 51.2% |
| Income tax | $375K | 0.2% |
| Net earnings | $68.5M | 32.0% |
| Operating cash flow | $185M | 86.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $214M | +17% |
| Q2 2026 | $205M | +17% |
| Q1 2026 | $201M | +19% |
| Q4 2025 | $190M | +18% |
| Q3 2025 | $183M | +19% |
| Q2 2025 | $176M | +15% |
| Q1 2025 | $169M | +13% |
From Agree Realty's 10-Q filed Oct 20, 2026 (on EDGAR).
Questions
How does Agree Realty make money?
Agree Realty (ADC) made $214M of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Of every dollar of revenue, 51¢ was left as operating profit, 32¢ was left as net earnings.
What is Agree Realty's profit margin?
Net earnings were $68.5M, 32.0% of revenue, in the third quarter 2026; the operating margin was 51.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.