Federal Agricultural Mortgage
Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. The last earnings update was 77 days ago. More info.
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AGM Share Price and Events
7 Day Returns
1 Year Returns
AGM Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Federal Agricultural Mortgage (AGM) | 2.9% | 5.2% | 0.7% | -20.4% | 97% | 157.7% |
| US Mortgage | -1.1% | 0.8% | 0.9% | 0.6% | 32.3% | 42.9% |
| US Market | -0.3% | 2.9% | 2.1% | 3.4% | 36.2% | 41.3% |
1 Year Return vs Industry and Market
- AGM underperformed the Mortgage industry which returned 0.6% over the past year.
- AGM underperformed the Market in United States of America which returned 3.4% over the past year.
AGM Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Federal Agricultural Mortgage
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Federal Agricultural Mortgage.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity = $46.11 * 12.7% |
$5.86 |
| Book Value of Equity per Share | Median Book Value from the past 5 years. | $46.11 |
| Discount Rate (Cost of Equity) | See below | 14.7% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Mortgage Unlevered Beta | Simply Wall St/ S&P Global | 0.86 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.858 (1 + (1- 21%) (2371.94%)) |
11.675 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
2 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%) |
14.65% |
Discounted Cash Flow Calculation for NYSE:AGM using Excess Returns Model Model
The calculations below outline how an intrinsic value for Federal Agricultural Mortgage is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (12.7% – 14.65%) * $46.11) |
$-0.89 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $-0.89 / (14.65% - 2.73%) |
$-7.50 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $46.11 + $-7.50 |
$38.61 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $38.61 |
| Current discount | Discount to share price of
$75.40
= -1 x ($75.40 - $38.61) / $38.61 |
-95.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Federal Agricultural Mortgage is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Federal Agricultural Mortgage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Federal Agricultural Mortgage's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $8.84 |
| NYSE:AGM Share Price ** | NYSE (2019-07-18) in USD | $75.4 |
| United States of America Mortgage Industry PE Ratio | Median Figure of 129 Publicly-Listed Mortgage Companies | 14.33x |
| United States of America Market PE Ratio | Median Figure of 3,083 Publicly-Listed Companies | 17.88x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Federal Agricultural Mortgage.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:AGM Share Price ÷ EPS (both in USD) = 75.4 ÷ 8.84 |
8.53x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Agricultural Mortgage is good value based on earnings compared to the US Mortgage industry average.
- Federal Agricultural Mortgage is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Federal Agricultural Mortgage's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.53x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
4.6%per year |
| United States of America Mortgage Industry PEG Ratio | Median Figure of 50 Publicly-Listed Mortgage Companies | 1.23x |
| United States of America Market PEG Ratio | Median Figure of 2,124 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 8.53x ÷ 4.6% |
1.84x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Agricultural Mortgage is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Federal Agricultural Mortgage's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $52.25 |
| NYSE:AGM Share Price * | NYSE (2019-07-18) in USD | $75.4 |
| United States of America Mortgage Industry PB Ratio | Median Figure of 145 Publicly-Listed Mortgage Companies | 1.13x |
| United States of America Market PB Ratio | Median Figure of 5,245 Publicly-Listed Companies | 1.8x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:AGM Share Price ÷ Book Value per Share (both in USD) = 75.4 ÷ 52.25 |
1.44x |
* Primary Listing of Federal Agricultural Mortgage.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Federal Agricultural Mortgage is overvalued based on assets compared to the US Mortgage industry average.
Value checks
We assess Federal Agricultural Mortgage's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check) Federal Agricultural Mortgage has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
AGM Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Federal Agricultural Mortgage's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Federal Agricultural Mortgage's earnings growth is positive but not above the United States of America market average.
- Federal Agricultural Mortgage's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:AGM Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | 4.6% |
| NYSE:AGM Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 5.7% |
| United States of America Mortgage Industry Earnings Growth Rate | Market Cap Weighted Average | 10.7% |
| United States of America Mortgage Industry Revenue Growth Rate | Market Cap Weighted Average | 4.5% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.1% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 202 | 99 | 2 | |
| 2019-12-31 | 187 | 90 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 185 | 101 | 94 |
| 2018-12-31 | 184 | 200 | 95 |
| 2018-09-30 | 185 | 270 | 92 |
| 2018-06-30 | 178 | 247 | 84 |
| 2018-03-31 | 171 | 190 | 75 |
| 2017-12-31 | 171 | 175 | 71 |
| 2017-09-30 | 184 | 249 | 80 |
| 2017-06-30 | 181 | 264 | 78 |
| 2017-03-31 | 172 | 262 | 72 |
| 2016-12-31 | 160 | 213 | 64 |
| 2016-09-30 | 142 | 140 | 54 |
| 2016-06-30 | 130 | 110 | 46 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Federal Agricultural Mortgage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 9.19 | 9.38 | 9.00 | 2.00 |
| 2019-12-31 | 8.37 | 8.37 | 8.36 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 8.84 |
| 2018-12-31 | 8.91 |
| 2018-09-30 | 8.65 |
| 2018-06-30 | 7.91 |
| 2018-03-31 | 7.09 |
| 2017-12-31 | 6.73 |
| 2017-09-30 | 7.57 |
| 2017-06-30 | 7.40 |
| 2017-03-31 | 6.90 |
| 2016-12-31 | 6.12 |
| 2016-09-30 | 5.09 |
| 2016-06-30 | 4.28 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Federal Agricultural Mortgage will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Federal Agricultural Mortgage's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Federal Agricultural Mortgage has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
AGM Past Performance
How has Federal Agricultural Mortgage performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Federal Agricultural Mortgage's year on year earnings growth rate has been positive over the past 5 years.
- Federal Agricultural Mortgage's 1-year earnings growth exceeds its 5-year average (25.3% vs 17.9%)
- Federal Agricultural Mortgage's earnings growth has not exceeded the US Mortgage industry average in the past year (25.3% vs 39%).
Earnings and Revenue History
All data from Federal Agricultural Mortgage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 185.31 | 94.25 | 51.09 | |
| 2018-12-31 | 184.43 | 94.90 | 49.80 | |
| 2018-09-30 | 184.63 | 92.05 | 46.34 | |
| 2018-06-30 | 177.91 | 84.06 | 45.09 | |
| 2018-03-31 | 170.56 | 75.21 | 43.56 | |
| 2017-12-31 | 170.68 | 71.30 | 42.69 | |
| 2017-09-30 | 183.74 | 80.06 | 43.40 | |
| 2017-06-30 | 180.97 | 77.93 | 42.42 | |
| 2017-03-31 | 172.28 | 72.45 | 41.17 | |
| 2016-12-31 | 159.73 | 64.15 | 40.34 | |
| 2016-09-30 | 141.68 | 53.72 | 38.65 | |
| 2016-06-30 | 129.50 | 45.71 | 38.64 | |
| 2016-03-31 | 143.68 | 55.87 | 38.37 | |
| 2015-12-31 | 145.74 | 47.37 | 37.57 | |
| 2015-09-30 | 134.62 | 37.99 | 36.90 | |
| 2015-06-30 | 143.74 | 41.21 | 35.80 | |
| 2015-03-31 | 126.91 | 39.26 | 34.86 | |
| 2014-12-31 | 106.67 | 38.25 | 33.59 | |
| 2014-09-30 | 128.65 | 45.09 | 32.75 | |
| 2014-06-30 | 125.55 | 48.92 | 32.28 | |
| 2014-03-31 | 142.06 | 56.46 | 31.39 | |
| 2013-12-31 | 161.44 | 71.83 | 31.76 | |
| 2013-09-30 | 139.93 | 68.95 | 33.29 | |
| 2013-06-30 | 139.22 | 69.92 | 33.07 | |
| 2013-03-31 | 94.24 | 37.88 | 32.99 | |
| 2012-12-31 | 123.85 | 43.89 | 32.59 | |
| 2012-09-30 | 106.96 | 47.62 | 30.13 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Federal Agricultural Mortgage has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Federal Agricultural Mortgage used its assets less efficiently than the US Mortgage industry average last year based on Return on Assets.
- Unable to establish if Federal Agricultural Mortgage improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess Federal Agricultural Mortgage's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Federal Agricultural Mortgage has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
AGM Health
This company is a bank or financial institution.Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Balance sheet
Assets
Liabilities and shares
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Federal Agricultural Mortgage Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 763.30 | 18,840.30 | 391.66 |
| 2018-12-31 | 752.56 | 17,792.29 | 442.74 |
| 2018-09-30 | 777.59 | 17,302.93 | 454.40 |
| 2018-06-30 | 766.21 | 17,661.25 | 449.57 |
| 2018-03-31 | 745.27 | 17,510.18 | 509.96 |
| 2017-12-31 | 708.15 | 16,954.16 | 322.63 |
| 2017-09-30 | 694.17 | 16,876.90 | 383.65 |
| 2017-06-30 | 680.93 | 16,424.31 | 341.83 |
| 2017-03-31 | 666.02 | 15,162.03 | 334.92 |
| 2016-12-31 | 643.65 | 14,863.96 | 308.80 |
| 2016-09-30 | 600.88 | 15,284.44 | 341.70 |
| 2016-06-30 | 585.15 | 15,916.89 | 1,797.94 |
| 2016-03-31 | 544.02 | 15,521.77 | 1,763.85 |
| 2015-12-31 | 553.72 | 14,869.23 | 1,243.37 |
| 2015-09-30 | 540.55 | 14,205.27 | 1,556.05 |
| 2015-06-30 | 576.29 | 14,231.28 | 1,724.99 |
| 2015-03-31 | 582.50 | 14,159.34 | 1,599.29 |
| 2014-12-31 | 781.83 | 13,334.20 | 1,408.56 |
| 2014-09-30 | 782.40 | 11,989.29 | 2,307.58 |
| 2014-06-30 | 772.27 | 12,121.95 | 2,079.11 |
| 2014-03-31 | 678.98 | 12,777.18 | 929.97 |
| 2013-12-31 | 574.47 | 12,677.42 | 828.30 |
| 2013-09-30 | 605.25 | 12,328.23 | 734.69 |
| 2013-06-30 | 602.32 | 12,226.38 | 748.54 |
| 2013-03-31 | 628.83 | 11,823.18 | 1,008.04 |
| 2012-12-31 | 592.96 | 11,920.41 | 922.17 |
| 2012-09-30 | 600.31 | 11,804.76 | 1,030.16 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- Unable to establish if Federal Agricultural Mortgage has an acceptable proportion of non-loan assets without balance sheet data.
- Unable to establish if Federal Agricultural Mortgage's liabilities are primarily made up of low risk funding sources without deposits or liabilities data.
- Federal Agricultural Mortgage reports no customer deposits, loans are made up entirely of borrowed funds.
- Federal Agricultural Mortgage's level of assets compared to its equity is very high (i.e. bank has borrowed heavily to fund lending).
- Unable to establish if Federal Agricultural Mortgage has a sufficient allowance for bad loans without relevant financial data.
- Unable to establish if Federal Agricultural Mortgage has an acceptable level of bad loans without bad loans data.
Financial health checks
We assess Federal Agricultural Mortgage's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Federal Agricultural Mortgage has a total score of 0/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
AGM Dividends
What is Federal Agricultural Mortgage's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Federal Agricultural Mortgage
shares you are expected to receive
$74
in your first year as a dividend.
Dividend Amount
- Federal Agricultural Mortgage's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
- Federal Agricultural Mortgage's dividend is below the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| United States of America Mortgage Industry Average Dividend Yield | Market Cap Weighted Average of 95 Stocks | 3.1% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2017 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | 3.07 | 2.00 |
| 2019-12-31 | 2.80 | 2.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-17 | 2.800 | 3.906 |
| 2019-05-02 | 2.800 | 3.684 |
| 2019-02-21 | 2.800 | 3.668 |
| 2018-10-31 | 2.320 | 3.479 |
| 2018-08-02 | 2.320 | 3.075 |
| 2018-05-02 | 2.320 | 2.509 |
| 2018-03-08 | 2.320 | 2.678 |
| 2017-11-01 | 1.440 | 1.881 |
| 2017-08-03 | 1.440 | 2.065 |
| 2017-05-03 | 1.440 | 2.238 |
| 2017-03-09 | 1.440 | 2.518 |
| 2016-11-02 | 1.040 | 1.898 |
| 2016-08-03 | 1.040 | 2.573 |
| 2016-05-04 | 1.040 | 2.834 |
| 2016-03-10 | 1.040 | 2.737 |
| 2015-11-04 | 0.640 | 2.075 |
| 2015-08-06 | 0.640 | 2.403 |
| 2015-06-03 | 0.640 | 2.212 |
| 2015-02-05 | 0.640 | 2.043 |
| 2014-12-03 | 0.560 | 1.982 |
| 2014-08-08 | 0.560 | 1.750 |
| 2014-06-04 | 0.560 | 1.849 |
| 2014-02-06 | 0.560 | 1.723 |
| 2013-11-13 | 0.480 | 1.452 |
| 2013-11-12 | 0.480 | 1.366 |
| 2013-08-08 | 0.480 | 1.415 |
| 2013-05-09 | 0.480 | 1.585 |
| 2013-03-18 | 0.480 | 1.526 |
| 2012-11-08 | 0.400 | 1.199 |
| 2012-08-09 | 0.400 | 1.550 |
| 2012-05-10 | 0.400 | 1.565 |
| 2012-03-15 | 0.400 | 1.773 |
| 2011-11-09 | 0.200 | 1.062 |
| 2011-08-09 | 0.200 | 1.052 |
| 2011-05-10 | 0.200 | 1.009 |
| 2011-03-16 | 0.200 | 1.082 |
| 2010-11-09 | 0.200 | 1.227 |
| 2010-08-09 | 0.200 | 1.699 |
| 2010-05-10 | 0.200 | 1.341 |
| 2010-03-17 | 0.200 | 1.416 |
| 2010-03-16 | 0.200 | 2.135 |
| 2009-11-09 | 0.200 | 2.715 |
| 2009-08-10 | 0.200 | 2.439 |
| 2009-05-12 | 0.200 | 3.649 |
| 2009-03-16 | 0.200 | 6.582 |
| 2008-11-10 | 0.400 | 11.315 |
| 2008-08-12 | 0.400 | 5.311 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Federal Agricultural Mortgage's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Federal Agricultural Mortgage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Federal Agricultural Mortgage has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
AGM Management
CEO
| COMPENSATION | $560,836 |
| AGE | 63 |
| TENURE AS CEO | 0.8 years |
CEO Bio
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, Mr. Nordholm was employed by Starwood Energy Group Global LLC (“Starwood Energy”), an affiliate of Starwood Capital Group, in various capacities since 2006, including serving as its first Chief Executive Officer & Managing Director from 2006 to 2016, its Co-Head & Senior Managing Director from 2016 to 2017, and its Vice Chairman & Senior Managing Director since 2017. In his role as Chief Executive Officer & Managing Director at Starwood Energy, Mr. Nordholm led talent recruitment and development efforts to build a team of energy investment professionals; raised blind pool private equity capital for deployment into energy infrastructure projects; developed a network of core investors; established and executed on investment strategies for energy infrastructure assets focused on renewable power, including solar, wind, and biomass and natural gas power generation and transmission; developed an investment and asset management platform; and implemented appropriate operational and risk management infrastructure within the organization. In his other roles at Starwood Energy, Mr. Nordholm was responsible for investor relations and corporate development efforts, including implementing new initiatives involving credit products. He also participated on internal investment, asset management, and valuation committees. Prior to joining Starwood Energy, Mr. Nordholm served from 2002 to 2006 in dual capacities as the Co-Founder and Chief Executive Officer of Tyr Energy (an energy infrastructure management firm) and as the Chairman of Tyr Capital (a capital investment firm). From 1995 to 1998, Mr. Nordholm served as the Chief Executive Officer of U.S. Central, which was a wholesale financial cooperative for corporate credit unions in the United States. Mr. Nordholm also served in senior-level positions at Aquila, which was later acquired by Kansas City Power & Light, from 1999 to 2002, and at National Cooperative Bank from 1984 to 1995. He was also employed in various capacities by Federal Land Bank of St. Paul (reorganized into AgriBank FCB) and Interregional Service Corporation of Minneapolis (acquired by an entity in the Farm Credit System) from 1980 to 1984. Mr. Nordholm currently serves on the board of directors of Starwood Sustainable Credit and one of its portfolio companies. He previously served on the board of directors of the following entities: American Council on Renewable Energy from 2017 to 2018; Kansas City Life Insurance Company from 2004 to 2013; and Generations Bank from 1999 to 2004. Mr. Nordholm received his Bachelor of Arts in Economics from Carleton College in 1978.
CEO Compensation
- Insufficient data for Bradford to compare compensation growth.
- Bradford's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Federal Agricultural Mortgage management team in years:
- The average tenure for the Federal Agricultural Mortgage management team is less than 2 years, this suggests a new team.
Management Team
Bradford Nordholm
President & CEO
$561K
63
0.8 yrs
Steve Mullery
Executive VP
$869K
52
7.1 yrs
Curt Covington
Executive VP & Chief Credit Officer
$890K
63
1.5 yrs
Brian Brinch
Senior Vice President of Rural Infrastructure
$476K
42
1.3 yrs
Gregory Ramsey
VP, Controller
55
Mario Morais
Vice President of Operations & Technology
1.3 yrs
Jalpa Nazareth
Director of Investor Relations
Grace Wu Plaza
Director of Compliance & Corporate Integrity
1.3 yrs
Megan Murray-Pelaez
Director of Marketing & Communications
1.3 yrs
Kerry Willie
Vice President of Human Capital
1.1 yrs
Board of Directors Tenure
Average tenure and age of the Federal Agricultural Mortgage board of directors in years:
- The tenure for the Federal Agricultural Mortgage board of directors is about average.
Board of Directors
Lowell Junkins
Chairman
$1M
75
10.8 yrs
Myles Watts
Vice Chairman of the Board
$138K
68
7.3 yrs
James Engebretsen
Director
$118K
63
11.1 yrs
Dick Davidson
Director
$128K
74
9.1 yrs
Chester Culver
Director
$118K
53
7.3 yrs
Bruce Sherrick
Director
$130K
56
7.3 yrs
Mitchell Johnson
Director
$118K
77
22.1 yrs
Dennis Brack
Director
$124K
66
18.1 yrs
Clark Maxwell
Director
$118K
47
11.1 yrs
Sara Faivre-Davis
Director
$118K
54
8.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. Dec 18 | Buy | Thomas Hill | Individual | 06. Dec 18 | 07. Dec 18 | 300 | $62.00 | $18,501 | ||
| 30. Nov 18 | Sell | John Covington | Individual | 28. Nov 18 | 28. Nov 18 | -2,000 | $67.98 | $-132,822 | ||
Management checks
We assess Federal Agricultural Mortgage's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Federal Agricultural Mortgage has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
AGM News
Simply Wall St News
Is Federal Agricultural Mortgage Corporation (NYSE:AGM) A Volatile Stock?
If you own shares in Federal Agricultural Mortgage Corporation (NYSE:AGM) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … What this means for you: Since Federal Agricultural Mortgage has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.
Simply Wall St - – Full articleWhat Kind Of Shareholder Appears On The Federal Agricultural Mortgage Corporation's (NYSE:AGM) Shareholder Register?
The big shareholder groups in Federal Agricultural Mortgage Corporation (NYSE:AGM) have power over the company. … View our latest analysis for Federal Agricultural Mortgage NYSE:AGM Ownership Summary, June 26th 2019 What Does The Institutional Ownership Tell Us About Federal Agricultural Mortgage? … Insider Ownership Of Federal Agricultural Mortgage The definition of an insider can differ slightly between different countries, but members of the board of directors always count.
Simply Wall St - – Full articleCould Federal Agricultural Mortgage Corporation's (NYSE:AGM) Investor Composition Influence The Stock Price?
With a market capitalization of US$721m, Federal Agricultural Mortgage is a small cap stock, so it might not be well known by many institutional investors. … See our latest analysis for Federal Agricultural Mortgage NYSE:AGM Ownership Summary, June 26th 2019 What Does The Institutional Ownership Tell Us About Federal Agricultural Mortgage? … As you can see, institutional investors own 66% of Federal Agricultural Mortgage.
Simply Wall St - – Full articleDid Federal Agricultural Mortgage Corporation (NYSE:AGM) Insiders Sell Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Federal Agricultural Mortgage Corporation (NYSE:AGM). … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' Check out our latest analysis for Federal Agricultural Mortgage The Last 12 Months Of Insider Transactions At Federal Agricultural Mortgage In the last twelve months, the biggest single sale by an insider was when the Executive VP & Chief Credit Officer, John Covington, sold US$133k worth of shares at a price of US$67.98 per share. … Insiders own 1.9% of Federal Agricultural Mortgage shares, worth about US$14m.
Simply Wall St - – Full articleWhy Federal Agricultural Mortgage Corporation (NYSE:AGM) Could Be Worth Watching
Federal Agricultural Mortgage Corporation (NYSE:AGM), operating in the financial services industry based in United States, received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $82.86 at one point, and dropping to the lows of $69.37. … Great news for investors – Federal Agricultural Mortgage is still trading at a fairly cheap price. … However, given that Federal Agricultural Mortgage’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future.
Simply Wall St - – Full articleWhy Federal Agricultural Mortgage Corporation (NYSE:AGM) Is A Dividend Rockstar
On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.. … With Federal Agricultural Mortgage yielding 3.6% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1
Simply Wall St - – Full articleDividend Hunters Should Consider Federal Agricultural Mortgage Corporation (NYSE:AGM), With A 3.8% Yield
Over the past 10 years Federal Agricultural Mortgage Corporation (NYSE:AGM) has grown its dividend payouts from $0.20 to $2.8. … With a market cap of US$786m, Federal Agricultural Mortgage pays out 26% of its earnings, leading to a 3.8% yield. … See our latest analysis for Federal Agricultural Mortgage?
Simply Wall St - – Full articleIntroducing Federal Agricultural Mortgage (NYSE:AGM), The Stock That Zoomed 116% In The Last Five Years
But on a lighter note, a good company can see its share price rise well over 100%. … One great example is Federal Agricultural Mortgage Corporation (NYSE:AGM) which saw its share price drive 116% higher over five years. … During five years of share price growth, Federal Agricultural Mortgage achieved compound earnings per share (EPS) growth of 6.0% per year.
Simply Wall St - – Full articleFederal Agricultural Mortgage Corporation (NYSE:AGM): What Does Its Beta Value Mean For Your Portfolio?
If you're interested in Federal Agricultural Mortgage Corporation (NYSE:AGM), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).
Simply Wall St - – Full articleHow Many Federal Agricultural Mortgage Corporation (NYSE:AGM) Shares Do Institutions Own?
The big shareholder groups in Federal Agricultural Mortgage Corporation (NYSE:AGM) have power over the company. … Federal Agricultural Mortgage isn't enormous, but it's not particularly small either. … Taking a look at our data on the ownership groups (below), it's seems that.
Simply Wall St - – Full articleAGM Company Info
Description
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 Utilities, and Institutional Credit. The Farm & Ranch segment purchases and retains eligible mortgage loans that are secured by first liens on agricultural real estate; securitizes eligible mortgage loans, and guarantees the timely payment of principal and interest on securities representing interests in or obligations secured by pools of mortgage loans; and issues long-term standby purchase commitments (LTSPC) on designated eligible mortgage loans. The USDA Guarantees segment purchases portions of certain agricultural, rural development, business and industry, and community facilities loans guaranteed by the United States Department of Agriculture (USDA). The Rural Utilities segment purchases and guarantees securities that are backed by eligible rural utilities loans; and issues LTSPCs for pools of eligible rural utilities loans. The Institutional Credit segment engages in purchasing and guaranteeing general obligations of lenders that are secured by pools of loans eligible under the Farm & Ranch, USDA Guarantees, or Rural Utilities lines of business. Federal Agricultural Mortgage Corporation was founded in 1987 and is headquartered in Washington, District of Columbia.
Details
| Name: | Federal Agricultural Mortgage Corporation |
| AGM | |
| Exchange: | NYSE |
| Founded: | 1987 |
| $794,299,726 | |
| 10,698,529 | |
| Website: | http://www.farmermac.com |
| Address: |
Federal Agricultural Mortgage Corporation 1999 K Street, NW, 4th Floor, Washington, District Of Columbia, 20006, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | AGM | Class C Common Stock | New York Stock Exchange | US | USD | 26. Jan 1994 | |
| DB | A35 | Class C Common Stock | Deutsche Boerse AG | DE | EUR | 26. Jan 1994 | |
| NYSE | AGM.A | Class A Common Stock | New York Stock Exchange | US | USD | 13. Dec 1993 | |
| NYSE | AGM.PRA | PFD A 5.875%NON | New York Stock Exchange | US | USD | 23. Jan 2013 | |
| NYSE | AGM.PRC | PFD C FIX TO FLT | New York Stock Exchange | US | USD | 20. Jun 2014 | |
| NYSE | AGM.PRD | 5.7% NCUM PFD D | New York Stock Exchange | US | USD | 09. May 2019 |
Number of employees
Current staff
Industry
| Thrifts and Mortgage Finance | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/18 23:39 |
| End of day share price update: | 2019/07/18 00:00 |
| Last estimates confirmation: | 2019/07/10 |
| Last earnings filing: | 2019/05/02 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
