Agree RealtyADC +0.11%90 Pretax Margin % is 31.24% as of Mar. 2026, which is 16% below its 10-year median of 37.18. GuruFocus rates ADC with a GF Score™ of 90/100 and a GF Value™ of $77.97 (Fairly Valued). The stock has 9 warning signs investors should review. Among 927 REITs companies, Agree Realty ranks worse than 65.59% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Agree Realty's Pre-Tax Income for the
three
months ended in Mar. 2026 was $62.7 Mil. Agree Realty's Revenue for the
three
months ended in Mar. 2026 was $200.8 Mil. Therefore, Agree Realty's pretax margin for the quarter that ended in Mar. 2026 was 31.24%.
The historical rank and industry rank for Agree Realty's Pretax Margin % or its related term are showing as below:
ADC'
s Pretax Margin % Range Over the Past 10 Years
Min: 28.78 Med: 37.18 Max: 52.92
Current: 29.53
ADC's Pretax Margin % is ranked worse than 65.59% of 927
companies
in the REITs industry
Industry Median: 46.93
vs ADC: 29.53
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Agree Realty Pretax Margin % Related Terms
Agree Realty Pretax Margin % Historical Data
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The historical data trend for Agree Realty's Pretax Margin % 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.
For the REIT - Retail subindustry, Agree Realty's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Agree Realty's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Agree Realty's Pretax Margin % falls into.
* 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 Pretax Margin % of 31.24% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Agree Realty and its competitors. This is 16% below median its historical median of 37.18. Over the past decade, Agree Realty's Pretax Margin % has ranged from 28.78 to 52.92. According to the industry distribution chart, Agree Realty ranks #608 out of 927 companies in the REITs industry, placing it in the top 65.6%.
Is Agree Realty's Pretax Margin % too high?
Agree Realty's current Pretax Margin % of 31.24% is 16% below median its 10-year median of 37.18. Over the past 10 years, this metric has ranged from a low of 28.78 to a high of 52.92. The REITs industry median Pretax Margin % is 46.93. Agree Realty's value of 31.24% is 33.4% below this industry median. Based on the distribution chart, Agree Realty ranks #608 out of 927 companies in the REITs industry, which is below the industry midpoint. Overall, Agree Realty has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Agree Realty's Pretax Margin % compare to NNN and BRX?
According to the REITs industry distribution chart, Agree Realty ranks #608 out of 927 companies for Pretax Margin %. This places Agree Realty in the lower half of its industry. The industry median Pretax Margin % is 46.93. Agree Realty's value of 31.24% is 33.4% below this benchmark. Historically, Agree Realty's own Pretax Margin % has ranged from 28.78 to 52.92 over the past decade. While the company's 10-year median is 37.18 vs. the industry median of 46.93, Agree Realty has consistently been below 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 Pretax Margin % for a REITs company?
The median Pretax Margin % among REITs companies is 46.93, based on 927 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Agree Realty's current Pretax Margin % of 31.24% is 33.4% below 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Agree Realty and its competitors. For the REITs industry, the median Pretax Margin % is 46.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Agree Realty's current Pretax Margin % is 31.24%, which is 16% below median its own 10-year median of 37.18. 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 $77.97, compared to a current price of $75.40 — trading 3.3% below its estimated fair value. The current Pretax Margin % is 31.24%, which is 16% below median its 10-year median of 37.18 and 33.4% below the REITs industry median of 46.93. Agree Realty's overall GF Score™ is 90/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Agree Realty (ADC), the current Pretax Margin % is 31.24% as of Mar. 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 $75.40 is trading 3.3% below its estimated GF Value™ of $77.97.
GuruFocus considers Agree Realty to be Fairly Valued.
Key valuation signals for ADC:
Pretax Margin %: 31.24% (16% below median its 10-year median of 37.18)
GF Value™: $77.97 vs. price of $75.40 (3.3% below fair value)
Industry Position: 33.4% below the REITs median (#608 of 927)
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.
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