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Federal Agricultural Mortgage Corp

AGM

Federal & Federally-Sponsored Credit Agencies

Mkt Cap

$1.969B

PE

11.39

Debt

$34.67B

Cash

$888.7M

EV

$35.75B

FCF

-

Market Cap

$1.969B

P/E Ratio

11.39

Debt

$34.67B

Cash

$888.7M

EV

$35.75B

FCF

-
Charts data: {"Earnings":[{"time":"2014-12-30","value":38251000},{"time":"2015-12-30","value":47371000},{"time":"2016-12-30","value":64152000},{"time":"2017-12-30","value":71300000},{"time":"2018-12-30","value":94898000},{"time":"2019-12-30","value":93650000},{"time":"2020-12-30","value":89176000},{"time":"2021-12-30","value":107583000},{"time":"2022-12-30","value":150979000},{"time":"2023-12-30","value":172838000}],"Sales":[],"Net Margins":[],"Assets":[{"time":"2014-12-30","value":14287821000},{"time":"2015-12-30","value":15540354000},{"time":"2016-12-30","value":15606020000},{"time":"2017-12-30","value":17792274000},{"time":"2018-12-30","value":18694328000},{"time":"2019-12-30","value":21709374000},{"time":"2020-12-30","value":24355501000},{"time":"2021-12-30","value":24013911000},{"time":"2022-12-30","value":27333110000},{"time":"2023-12-30","value":29524382000}],"Stockholders Equity":[{"time":"2014-12-30","value":781829000},{"time":"2015-12-30","value":553720000},{"time":"2016-12-30","value":643647000},{"time":"2017-12-30","value":708146000},{"time":"2018-12-30","value":752557000},{"time":"2019-12-30","value":799276000},{"time":"2020-12-30","value":997935000},{"time":"2021-12-30","value":1213700000},{"time":"2022-12-30","value":1271958000},{"time":"2023-12-30","value":1411863000}],"ROE":[{"time":"2014-12-30","value":0.04892502068866721},{"time":"2015-12-30","value":0.08555045871559633},{"time":"2016-12-30","value":0.0996695393593072},{"time":"2017-12-30","value":0.10068545187009459},{"time":"2018-12-30","value":0.12610074718592745},{"time":"2019-12-30","value":0.11716853752646145},{"time":"2020-12-30","value":0.08936052949340388},{"time":"2021-12-30","value":0.0886405207217599},{"time":"2022-12-30","value":0.11869810166687894},{"time":"2023-12-30","value":0.12241839328603413}],"ROA":[{"time":"2014-12-30","value":0.017065303379710593},{"time":"2015-12-30","value":0.015900152596266467},{"time":"2016-12-30","value":0.01864556113602315},{"time":"2017-12-30","value":0.02099624814680799},{"time":"2018-12-30","value":0.027060079399484165},{"time":"2019-12-30","value":0.028126513459116785},{"time":"2020-12-30","value":0.018491879924785782},{"time":"2021-12-30","value":0.006979829316432463},{"time":"2022-12-30","value":0.008256616243083938},{"time":"2023-12-30","value":0.008572609580786483}]}

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through Corporate AgFinance, Farm & Ranch, Rural Utilities, and Renewable Energy segments. The company's Agricultural Finance line of business engages in purchasing and retaining eligible loans and securities; guaranteeing the payment of principal and interest on securities that represent interests in or obligations secured by pools of eligible loans; servicing eligible loans; and issuing LTSPCs for eligible loans. Its Rural Infrastructure Finance line of business is involved in the purchase of rural utilities loans and renewable energy loans and guarantees of securities backed by loans, as well as LTSPCs for pools of eligible rural utilities loans; by loans for electric or telecommunications facilities by lenders organized as cooperatives to borrowers; and other financial institutions that are secured by pools of eligible loans. The company was founded in 1987 and is headquartered in Washington, the District of Columbia.

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In the chart Earnings are multiplied by this value.

Earnings Growth 16%
Earnings Stability 90%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Net Margin----------
ROA1.6%1.9%2.1%2.7%2.8%1.8%0.7%0.83%0.86%0.86%
ROE8.6%10%10%13%12%8.9%8.9%12%12%12%

What is the average Net Margin?

The average Net Margin over the past 5 years is -.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +1.62%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.47%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +11.04%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -0.04%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201512-201612-201712-201812-201912-202012-202112-202212-2023TTM
Debt FCF----------
Debt Equity25.4321.2321.9221.5836.4332.6124.5125.9724.5624.56
MIN
Graham Stability--100%100%100%100%100%100%100%100%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -.

What is the Graham’s Stability?

Graham’s Stability measure stands at 1.00.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201812-202012-2022Trend
Revenue-----
Net Income15%13%25%14%-0.69%
Stockholders Equity12%13%12%11%2.8%
FCF-----

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +12.74%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -0.69%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +13.41%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +2.8%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is -.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.