Stock Analysis Report

Federal Agricultural Mortgage

Executive Summary

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States.



Established dividend payer and slightly overvalued.

Similar Companies

Share Price & News

How has Federal Agricultural Mortgage's share price performed over time and what events caused price changes?

Latest Share Price and Events

Market Performance

7 Day Return




US Mortgage


US Market

1 Year Return




US Mortgage


US Market

Shareholder returns

7 Day-1.9%1.6%0.4%
30 Day-3.2%1.0%-1.2%
90 Day-3.2%4.0%-0.4%
1 Year3.8%-2.8%17.7%15.2%9.3%6.9%
3 Year11.9%-7.8%41.2%31.8%45.8%36.4%
5 Year37.5%-0.7%71.5%53.4%62.9%45.1%

Price Volatility Vs. Market

How volatile is Federal Agricultural Mortgage's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Federal Agricultural Mortgage undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Undervalued: AGM.PRB ($25.25) is trading above our estimate of fair value ($13.4)

Significantly Undervalued: AGM.PRB is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: AGM.PRB is good value based on its PE Ratio (8.2x) compared to the Mortgage industry average (14.4x).

PE vs Market: AGM.PRB is good value based on its PE Ratio (8.2x) compared to the US market (17.6x).

Price to Earnings Growth Ratio

Low PEG Ratio: AGM.PRB is poor value based on its PEG Ratio (1.7x)

Price to Book Ratio

PB vs Industry: AGM.PRB is overvalued based on its PB Ratio (1.4x) compared to the US Mortgage industry average (1.1x).

Next Steps

Future Growth

How is Federal Agricultural Mortgage forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGM.PRB's forecast earnings growth (5% per year) is above the savings rate (2.7%).

Earnings vs Market: AGM.PRB's earnings (5% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: AGM.PRB's earnings are forecast to grow, but not significantly.

Revenue vs Market: AGM.PRB's revenue (6.2% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: AGM.PRB's revenue (6.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Information is not available.

Next Steps

Past Performance

How has Federal Agricultural Mortgage performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Past Earnings Growth Analysis

Earnings Trend: AGM.PRB's earnings have grown by 17.9% per year over the past 5 years.

Accelerating Growth: AGM.PRB's earnings growth over the past year (25.3%) exceeds its 5-year average (17.9% per year).

Earnings vs Industry: AGM.PRB earnings growth over the past year (25.3%) underperformed the Mortgage industry 31.5%.

Return on Equity

High ROE: AGM.PRB's Return on Equity (14.1%) is considered low.

Return on Assets

ROA vs Industry: AGM.PRB's Return on Assets is below or equal to the Mortgage industry average last year.

Return on Capital Employed

ROCE Improving: Insufficient data to calculate AGM.PRB's Return on Capital Employed to determine if it has improved over the past 3 years.

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Financial Health

How is Federal Agricultural Mortgage's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Information is not available.

Information is not available.

Financial Institutions Analysis

Asset Level: AGM.PRB's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if AGM.PRB has a sufficient allowance for bad loans.

Low Risk Liabilities: AGM.PRB reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if AGM.PRB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AGM.PRB has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if AGM.PRB has an appropriate level of bad loans.

Next Steps


What is Federal Agricultural Mortgage's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Stability and Growth of Payments

Notable Dividend: AGM.PRB's dividend (3.85%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: AGM.PRB's dividend (3.85%) is in the top 25% of dividend payers in the US market (3.73%)

Stable Dividend: AGM.PRB's dividends per share have been stable in the past 10 years.

Growing Dividend: AGM.PRB's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.6%), AGM.PRB's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


What is the CEO of Federal Agricultural Mortgage's salary, the management and board of directors tenure and is there insider trading?


Average management tenure


Bradford Nordholm (62yo)





Mr. Bradford T. Nordholm has been President and Chief Executive Officer of Federal Agricultural Mortgage Corporation since October 15, 2018. Prior to being appointed as an executive officer of Farmer Mac,  ...

CEO Compensation Analysis

Information is not available.

Compensation vs Earnings: Insufficient data to compare Bradford's compensation with company performance.

Management Age and Tenure


Average Tenure


Average Age

Experienced Management: AGM.PRB's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.

Board Age and Tenure


Average Tenure


Average Age

Experienced Board: AGM.PRB's board of directors are considered experienced (9.8 years average tenure).

Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Management Team

  • R. Lynch (51yo)

    Executive VP

    • Tenure: 6.3yrs
    • Compensation: US$1.16m
  • Steve Mullery (51yo)

    Executive VP

    • Tenure: 6.9yrs
    • Compensation: US$868.64k
  • Curt Covington (62yo)

    Executive VP & Chief Credit Officer

    • Tenure: 1.3yrs
    • Compensation: US$890.24k
  • Brian Brinch (41yo)

    Senior Vice President of Business Strategy & Financial Research

    • Tenure: 1.1yrs
    • Compensation: US$475.71k
  • Bradford Nordholm (62yo)

    President & CEO

    • Tenure: 0.6yrs
    • Compensation: US$560.84k
  • Jalpa Nazareth

    Manager - Equity Investor Relations

    • Tenure: 0yrs
  • Mario Morais

    Vice President of Operations & Technology

    • Tenure: 1.1yrs
  • Megan Murray-Pelaez

    Director of Marketing & Communications

    • Tenure: 1.2yrs
  • Grace Wu Plaza

    Director of Compliance & Corporate Integrity

    • Tenure: 1.1yrs
  • Kerry Willie

    Vice President of Human Capital

    • Tenure: 0.9yrs

Board Members

  • Mitchell Johnson (76yo)


    • Tenure: 21.9yrs
    • Compensation: US$118.46k
  • Lowell Junkins (74yo)


    • Tenure: 10.7yrs
    • Compensation: US$1.16m
  • Dennis Brack (65yo)


    • Tenure: 17.9yrs
    • Compensation: US$124.28k
  • Denny Everson (67yo)


    • Tenure: 14.9yrs
    • Compensation: US$118.46k
  • Doug Wilhelm (68yo)


    • Tenure: 6.9yrs
    • Compensation: US$122.67k
  • James Engebretsen (62yo)


    • Tenure: 10.9yrs
    • Compensation: US$118.46k
  • Dick Davidson (73yo)


    • Tenure: 8.9yrs
    • Compensation: US$128.46k
  • Myles Watts (67yo)

    Vice Chairman of the Board

    • Tenure: 7.1yrs
    • Compensation: US$138.46k
  • Chester Culver (52yo)


    • Tenure: 7.1yrs
    • Compensation: US$118.46k
  • Bruce Sherrick (55yo)


    • Tenure: 7.1yrs
    • Compensation: US$130.46k

Company Information

Federal Agricultural Mortgage Corporation's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Federal Agricultural Mortgage Corporation
  • Ticker: AGM.PRB
  • Exchange: NYSE
  • Founded: 1987
  • Industry: Thrifts and Mortgage Finance
  • Sector: Banks
  • Market Cap: US$808.634m
  • Shares outstanding: 10.70m
  • Website: https://www.farmermac.com

Number of Employees


  • Federal Agricultural Mortgage Corporation
  • 1999 K Street, NW
  • 4th Floor
  • Washington
  • District Of Columbia
  • 20006
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AGM.ANYSE (New York Stock Exchange)Class A Common StockUSUSDDec 1993
AGMNYSE (New York Stock Exchange)YesClass C Common StockUSUSDJan 1994
A35DB (Deutsche Boerse AG)YesClass C Common StockDEEURJan 1994
AGM.PRANYSE (New York Stock Exchange)PFD A 5.875%NONUSUSDJan 2013
AGM.PRBNYSE (New York Stock Exchange)NCUM PFD SER BUSUSDMar 2014
AGM.PRCNYSE (New York Stock Exchange)PFD C FIX TO FLTUSUSDJun 2014


Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. It operates through four segments: Farm & Ranch, USDA Guarantees, Rural Utili ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/05/14 00:54
End of Day Share Price2019/05/13 00:00
Annual Earnings2018/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.