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Agree Realty (NYSE:ADC) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Agree Realty Net Cash per Share Related Terms
Agree Realty Net Cash per Share Historical Data
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The historical data trend for Agree Realty's Net Cash per Share can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ADC vs BRX, NNN, FRT: Net Cash per Share Comparison
For the REIT - Retail subindustry, Agree Realty's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Agree Realty Price-to-Net-Cash vs REITs Industry
For the REITs industry and Real Estate sector, Agree Realty's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Agree Realty's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
Agree Realty's Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Agree Realty (ADC) has a Net Cash per Share of $-32.59 as of Jun. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Agree Realty and its competitors. According to the industry distribution chart, Agree Realty ranks #999999 out of 99 companies in the REITs industry.
Is Agree Realty's Net Cash per Share too high?
Agree Realty's current Net Cash per Share is $-32.59. Based on the distribution chart, Agree Realty ranks #999999 out of 99 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Agree Realty has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Agree Realty's Net Cash per Share compare to BRX and NNN?
According to the REITs industry distribution chart, Agree Realty ranks #999999 out of 99 companies for Net Cash per Share. This places Agree Realty in the lower half of its industry. The industry median Net Cash per Share is 20.30. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a REITs company?
The median Net Cash per Share among REITs companies is 20.30, based on 99 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Agree Realty and its competitors. For the REITs industry, the median Net Cash per Share is 20.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Agree Realty's current Net Cash per Share is $-32.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Agree Realty stock overvalued right now?
Based on GuruFocus' analysis, Agree Realty (ADC) is currently considered Fairly Valued. The stock's GF Value™ is $78.97, compared to a current price of $73.88 — trading 6.4% below its estimated fair value. The current Net Cash per Share is $-32.59. Agree Realty's overall GF Score™ is 91/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Agree Realty (ADC), the current Net Cash per Share is $-32.59 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Agree Realty (ADC) Overvalued in 2026?
Based on GuruFocus' analysis, Agree Realty stock appears to be undervalued.
The current stock price of $73.88 is trading 6.4% below its estimated GF Value™ of $78.97.
GuruFocus considers Agree Realty to be Fairly Valued.
Key valuation signals for ADC:
Net Cash per Share: $-32.59
GF Value™: $78.97 vs. price of $73.88 (6.4% below fair value)
No single metric tells the full story. See the ADC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Agree Realty Corporation operates as a fully integrated real estate investment trust mainly focused on the ownership, acquisition, development and management of retail properties net leased to industry-tenants. The Company is mainly in the business of acquiring, developing and managing retail real estate. Some of its properties in the portfolio include Walmart, 7-Eleven, Wawa, Gerber Collision and others.
91GF Score
Get the complete analysis for ADC
Net Cash per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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