Real Estate · REIT - Mortgage
Price
$10.90
Market Cap
$12.5B
Employees
53
Beta
1.31
Avg Volume
14,963,222
CEO
Peter J. Federico
Business Description
AGNC Investment Corp. functions as a U.S.-based real estate investment trust (REIT). The firm primarily concentrates its investments on residential mortgage-backed securities (RMBS) and collateralized mortgage obligations (CMOs). A defining feature of these securities is that their principal and interest payments are secured by guarantees from either U.S. government-sponsored entities or federal government agencies. To fund these investments, AGNC largely depends on secured borrowings, specifically organized as repurchase agreements. The company has opted for REIT tax status under the 1986 Internal Revenue Code, which exempts it from federal corporate income taxes, contingent on distributing a minimum of 90% of its taxable profits to its shareholders. Originally established in 2008, the entity, with its headquarters in Bethesda, Maryland, operated as American Capital Agency Corp. until it adopted its current name, AGNC Investment Corp., in September 2016.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
7.36
Stock Price: $10.90
EPS (Diluted): 1.48
EPS (Diluted): 1.48
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.88
Stock Price: $10.90
Total Equity: $12.39B
Shares: 1,023,700,000
Total Equity: $12.39B
Shares: 1,023,700,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
23.64
Market Cap: $12.51B
Total Debt: $101.79B
Cash: $1.74B
EBITDA: $4.70B
Total Debt: $101.79B
Cash: $1.74B
EBITDA: $4.70B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$111.0B
Market Cap: $12.51B
Total Debt: $101.79B
Cash: $1.74B
Total Debt: $101.79B
Cash: $1.74B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
100.0%
Gross Profit: $1.91B
Revenue: $1.91B
Revenue: $1.91B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
236.3%
Operating Income: $4.52B
Revenue: $1.91B
Revenue: $1.91B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
87.3%
Net Income: $1.67B
Revenue: $1.91B
Revenue: $1.91B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
13.5%
Net Income: $1.67B
Total Equity: $12.39B
Total Equity: $12.39B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
4.0%
Operating Income: $4.52B
Tax Rate: 0.0%
Equity: $12.39B
Total Debt: $101.79B
Cash: $1.74B
Tax Rate: 0.0%
Equity: $12.39B
Total Debt: $101.79B
Cash: $1.74B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.00
Current Assets: $0.00
Current Liabilities: $102.62B
Current Liabilities: $102.62B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
8.21
Short-Term Debt: $101.74B
Long-Term Debt: $56.00M
Total Debt: $101.79B
Total Equity: $12.39B
Long-Term Debt: $56.00M
Total Debt: $101.79B
Total Equity: $12.39B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$1.87
Revenue: $1.91B
Shares: 1,023,700,000
Shares: 1,023,700,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$12.11
Total Equity: $12.39B
Shares: 1,023,700,000
Shares: 1,023,700,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.64
Operating CF: $653.00M
CapEx: $0.00
Shares: 1,023,700,000
CapEx: $0.00
Shares: 1,023,700,000
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
14.6%
Last Dividend: N/A
Stock Price: $10.90
Stock Price: $10.90
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.67B
Net Income: $1.67B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares AGNC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:14pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.4B | $3.3B | $1.0B | $4.9B | $1.9B |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $2.4B | $3.3B | $1.0B | $4.9B | $1.9B |
| Operating Expenses | $1.6B | $3.9B | -$1.6B | $995.0M | -$2.6B |
| Operating Income | $824.0M | -$565.0M | $2.6B | $3.9B | $4.5B |
| Net Income | $749.0M | -$1.2B | $155.0M | $863.0M | $1.7B |
| EBITDA | $1.2B | -$552.0M | $2.4B | $3.8B | $4.7B |
| EPS | $1.23 | $-2.41 | $0.05 | $0.93 | $1.48 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:14pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.5B | $2.3B | $518.0M | $505.0M | $1.7B |
| Total Current Assets | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $68.1B | $51.7B | $71.6B | $88.0B | $115.1B |
| Current Liabilities | $57.6B | $43.7B | $0 | $0 | $102.6B |
| Long-Term Debt | $126.0M | $95.0M | $80.0M | $64.0M | $56.0M |
| Total Liabilities | $57.9B | $43.9B | $63.3B | $78.3B | $102.7B |
| Total Equity | $10.3B | $7.9B | $8.3B | $9.8B | $12.4B |
| Retained Earnings | -$5.2B | -$7.3B | -$8.1B | -$8.6B | -$8.5B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:14pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $1.5B | $1.0B | -$118.0M | $86.0M | $653.0M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $1.5B | $1.0B | -$118.0M | $86.0M | $653.0M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$281.0M | -$51.0M | $0 | $0 | $0 |
| Net Change in Cash | -$799.0M | $809.0M | -$563.0M | $0 | -$29.0M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 9:51pm (12h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$3.5B $3.0B – $4.1B
|
$4.2B $3.3B – $5.2B
|
$4.2B $3.2B – $5.3B
|
$2.2B $1.6B – $2.6B
|
| EBITDA |
$2.2B $1.8B – $2.5B
|
$2.6B $2.0B – $3.2B
|
$2.6B $2.0B – $3.3B
|
$1.3B $1.0B – $1.6B
|
| Net Income |
$1.6B $1.6B – $1.6B
|
$1.6B $1.6B – $1.6B
|
$1.5B $1.5B – $1.6B
|
$1.8B $1.1B – $2.0B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:14pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +36.9% | -69.6% | +384.7% | -60.8% |
| Gross Profit Growth | +36.9% | -69.6% | +384.7% | -60.8% |
| Operating Income Growth | -168.6% | +558.1% | +50.0% | +16.4% |
| Net Income Growth | -258.9% | +113.0% | +456.8% | +93.5% |
| EBITDA Growth | -146.3% | +542.4% | +55.4% | +23.7% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:14pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-06-30 | $0.12 | 2026-06-11 | 2026-06-30 | 2026-07-10 |
| 2026-05-29 | $0.12 | 2026-05-07 | 2026-05-29 | 2026-06-09 |
| 2026-04-30 | $0.12 | 2026-04-08 | 2026-04-30 | 2026-05-11 |
| 2026-03-31 | $0.12 | 2026-03-12 | 2026-03-31 | 2026-04-10 |
| 2026-02-27 | $0.12 | 2026-02-11 | 2026-02-27 | 2026-03-10 |
| 2026-01-30 | $0.12 | 2026-01-08 | 2026-01-30 | 2026-02-10 |
| 2025-12-31 | $0.12 | 2025-12-09 | 2025-12-31 | 2026-01-12 |
| 2025-11-28 | $0.12 | 2025-11-12 | 2025-11-28 | 2025-12-09 |
| 2025-10-31 | $0.12 | 2025-10-08 | 2025-10-31 | 2025-11-12 |
| 2025-09-30 | $0.12 | 2025-09-11 | 2025-09-30 | 2025-10-09 |
| 2025-08-29 | $0.12 | 2025-08-07 | 2025-08-29 | 2025-09-10 |
| 2025-07-31 | $0.12 | 2025-07-09 | 2025-07-31 | 2025-08-11 |
| 2025-06-30 | $0.12 | 2025-06-12 | 2025-06-30 | 2025-07-10 |
| 2025-05-30 | $0.12 | 2025-05-07 | 2025-05-30 | 2025-06-10 |
| 2025-04-30 | $0.12 | 2025-04-09 | 2025-04-30 | 2025-05-09 |
| 2025-03-31 | $0.12 | 2025-03-13 | 2025-03-31 | 2025-04-09 |
| 2025-02-28 | $0.12 | 2025-02-13 | 2025-02-28 | 2025-03-11 |
| 2025-01-31 | $0.12 | 2025-01-08 | 2025-01-31 | 2025-02-11 |
| 2024-12-31 | $0.12 | 2024-12-11 | 2024-12-31 | 2025-01-10 |
| 2024-11-29 | $0.12 | 2024-11-07 | 2024-11-29 | 2024-12-10 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for AGNC — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30