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Agree Realty vs Copt Defense Properties: ADC and CDP compared
Agree Realty is the larger company: $214M of revenue in its latest quarter (Q3 2026) against $209M for Copt Defense Properties (Q3 2026). Agree Realty is growing faster (+17% against +11% a year earlier). Agree Realty is more profitable, with an operating margin of 51.2% against 30.3%.
Where the money goes: ADC and CDP
Agree Realty (ADC) · Q3 2026
Agree Realty, Q3 2026: revenue $214M (+17% year over year), operating margin 51.2%, net earnings $68.5M, operating cash flow $185M. The chart follows the revenue to costs, profit and cash.
Copt Defense Properties (CDP) · Q3 2026
Copt Defense Properties, Q3 2026: revenue $209M (+11% year over year), operating margin 30.3%, net earnings $47.5M, operating cash flow $86.4M. The chart follows the revenue to costs, profit and cash.
| Agree Realty (ADC) | Copt Defense Properties (CDP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $214M | $209M |
| Revenue growth, Y/Y | +17% | +11% |
| Operating margin | 51.2% | 30.3% |
| Net earnings | $68.5M | $47.5M |
| Net margin | 32.0% | 22.8% |
| Operating cash flow | $185M | $86.4M |
| Free cash flow | — | $47.8M |
| Market value | $8.4B | $3.9B |
| P/E | 34.6× | 22.8× |
| Analysts’ mean target | $77.75 | $39.12 |
Questions
Which is bigger, Agree Realty or Copt Defense Properties?
Agree Realty is the larger company: $214M of revenue in its latest quarter (Q3 2026) against $209M for Copt Defense Properties (Q3 2026).
Is Agree Realty or Copt Defense Properties growing faster?
Agree Realty is growing faster (+17% against +11% a year earlier).
Which is more profitable, Agree Realty or Copt Defense Properties?
Agree Realty is more profitable, with an operating margin of 51.2% against 30.3%.
More: Agree Realty earnings · how Agree Realty makes money · Copt Defense Properties earnings · how Copt Defense Properties makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 20, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.