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Federal Agricultural MortgageAGM -0.42%64 Owner Earnings per Share (TTM) is 24.46 as of Jun. 2026, which is 286% above its 10-year median of 6.34. GuruFocus rates AGM with a GF Score™ of 64/100 and a GF Value™ of $239.90 (Fairly Valued). The stock has 8 warning signs investors should review. Among 208 Credit Services companies, Federal Agricultural Mortgage ranks worse than 50.48% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Federal Agricultural Mortgage's Owner Earnings per Share (TTM) ended in Jun. 2026 was $24.46. It's Price-to-Owner-Earnings ratio for today is 9.47.
The historical rank and industry rank for Federal Agricultural Mortgage's Owner Earnings per Share (TTM) or its related term are showing as below:
AGM'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 4.41 Med: 6.34 Max: 9.58
Current: 9.47
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Federal Agricultural Mortgage Owner Earnings per Share (TTM) Related Terms
Federal Agricultural Mortgage Owner Earnings per Share (TTM) Historical Data
* 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.
Federal Agricultural Mortgage Owner Earnings per Share (TTM) Chart
AGM vs ECPG, EZPW, WU: Owner Earnings per Share (TTM) Comparison
For the Credit Services subindustry, Federal Agricultural Mortgage's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.
Federal Agricultural Mortgage Price-to-Owner-Earnings vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Federal Agricultural Mortgage's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Federal Agricultural Mortgage's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Federal Agricultural Mortgage's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was $-89.2 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $7.0 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Federal Agricultural Mortgage's 5-Year Average Maintenance Capital Expenditure = $7.0 Mil
5. "Change In Working Capital" is from cashflow statement. Federal Agricultural Mortgage's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was $56.0 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 24.46 mean?
Federal Agricultural Mortgage (AGM) has a Owner Earnings per Share (TTM) of 24.46 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Federal Agricultural Mortgage. This is 286% above median its historical median of 6.34. Over the past decade, Federal Agricultural Mortgage's Owner Earnings per Share (TTM) has ranged from 4.41 to 9.58. According to the industry distribution chart, Federal Agricultural Mortgage ranks #105 out of 208 companies in the Credit Services industry, placing it in the top 50.5%.
Is Federal Agricultural Mortgage's Owner Earnings per Share (TTM) too high?
Federal Agricultural Mortgage's current Owner Earnings per Share (TTM) of 24.46 is 286% above median its 10-year median of 6.34. Over the past 10 years, this metric has ranged from a low of 4.41 to a high of 9.58. The Credit Services industry median Owner Earnings per Share (TTM) is 9.42. Federal Agricultural Mortgage's value of 24.46 is 159.8% above this industry median. Based on the distribution chart, Federal Agricultural Mortgage ranks #105 out of 208 companies in the Credit Services industry, which is below the industry midpoint. Overall, Federal Agricultural Mortgage has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Federal Agricultural Mortgage's Owner Earnings per Share (TTM) compare to ECPG and EZPW?
According to the Credit Services industry distribution chart, Federal Agricultural Mortgage ranks #105 out of 208 companies for Owner Earnings per Share (TTM). This places Federal Agricultural Mortgage in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 9.42. Federal Agricultural Mortgage's value of 24.46 is 159.8% above this benchmark. Historically, Federal Agricultural Mortgage's own Owner Earnings per Share (TTM) has ranged from 4.41 to 9.58 over the past decade. While the company's 10-year median is 6.34 vs. the industry median of 9.42, Federal Agricultural Mortgage has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Credit Services company?
The median Owner Earnings per Share (TTM) among Credit Services companies is 9.42, based on 208 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Federal Agricultural Mortgage's current Owner Earnings per Share (TTM) of 24.46 is 159.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Federal Agricultural Mortgage. For the Credit Services industry, the median Owner Earnings per Share (TTM) is 9.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Federal Agricultural Mortgage's current Owner Earnings per Share (TTM) is 24.46, which is 286% above median its own 10-year median of 6.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Federal Agricultural Mortgage stock overvalued right now?
Based on GuruFocus' analysis, Federal Agricultural Mortgage (AGM) is currently considered Fairly Valued. The stock's GF Value™ is $239.90, compared to a current price of $231.72 — trading 3.4% below its estimated fair value. The current Owner Earnings per Share (TTM) is 24.46, which is 286% above median its 10-year median of 6.34 and 159.8% above the Credit Services industry median of 9.42. Federal Agricultural Mortgage's overall GF Score™ is 64/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Federal Agricultural Mortgage (AGM), the current Owner Earnings per Share (TTM) is 24.46 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 Federal Agricultural Mortgage (AGM) Overvalued in 2026?
Based on GuruFocus' analysis, Federal Agricultural Mortgage stock appears to be undervalued.
The current stock price of $231.72 is trading 3.4% below its estimated GF Value™ of $239.90.
GuruFocus considers Federal Agricultural Mortgage to be Fairly Valued.
Key valuation signals for AGM:
Owner Earnings per Share (TTM): 24.46 (286% above median its 10-year median of 6.34)
GF Value™: $239.90 vs. price of $231.72 (3.4% below fair value)
Industry Position: 159.8% above the Credit Services median (#105 of 208)
No single metric tells the full story. See the AGM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Federal Agricultural Mortgage Corp provides agricultural real estate and rural housing mortgage loans in the secondary market in the U.S. Its operations consist of seven reportable segments: Farm & Ranch, which generates maximum revenue, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. The company purchases eligible mortgage loans secured by first liens on agricultural real estate and rural housing under the Farm & Ranch line of business. Its subsidiary purchases portions of certain agricultural, rural development, business and industry, and community facilities loans guaranteed by the USDA. Geographically, the company's operations are spread across different regions in the United States.
64GF Score
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