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Federal Agricultural Mortgage

NYSE:AGM
Snowflake Description

Average dividend payer and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AGM
NYSE
$760M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. The last earnings update was 71 days ago. More info.


Add to Portfolio Compare Print
AGM Share Price and Events
7 Day Returns
5.3%
NYSE:AGM
1.1%
US Mortgage
0.9%
US Market
1 Year Returns
-9.6%
NYSE:AGM
-15.3%
US Mortgage
-8%
US Market
AGM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Federal Agricultural Mortgage (AGM) 5.3% 27.9% 8.7% -9.6% 155.2% 129.4%
US Mortgage 1.1% 3.5% -4.3% -15.3% 23.3% 20%
US Market 0.9% -0.3% -8.1% -8% 37.1% 32.9%
1 Year Return vs Industry and Market
  • AGM outperformed the Mortgage industry which returned -15.3% over the past year.
  • AGM underperformed the Market in United States of America which returned -8% over the past year.
Price Volatility
AGM
Industry
5yr Volatility vs Market

AGM Value

 Is Federal Agricultural Mortgage undervalued based on future cash flows and its price relative to the stock market?

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Federal Agricultural Mortgage.

NYSE:AGM Discounted Cash Flow Data Sources
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
= $43.51 * 12.7%
$5.51
Book Value of Equity per Share Median Book Value from the past 5 years. $43.51
Discount Rate (Cost of Equity) See below 9.1%
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.

Calculation of Discount Rate/ Cost of Equity for NYSE:AGM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.756 (1 + (1- 21%) (2276.78%))
0.882
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.882 * 7.27%)
9.14%

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.

NYSE:AGM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.7% – 9.14%) * $43.51)
$1.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.53 / (9.14% - 2.73%)
$23.90
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $43.51 + $23.90
$67.41
NYSE:AGM Discount to Share Price
Calculation Result
Value per share (USD) From above. $67.41
Current discount Discount to share price of $72.33
= -1 x ($72.33 - $67.41) / $67.41
-7.3%

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.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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?
Raw Data
NYSE:AGM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $8.65
NYSE:AGM Share Price ** NYSE (2019-01-18) in USD $72.33
United States of America Mortgage Industry PE Ratio Median Figure of 133 Publicly-Listed Mortgage Companies 16.97x
United States of America Market PE Ratio Median Figure of 3,018 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Federal Agricultural Mortgage.

NYSE:AGM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AGM Share Price ÷ EPS (both in USD)

= 72.33 ÷ 8.65

8.36x

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?
Raw Data
NYSE:AGM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-3.8%per year
United States of America Mortgage Industry PEG Ratio Median Figure of 51 Publicly-Listed Mortgage Companies 1.22x
United States of America Market PEG Ratio Median Figure of 2,101 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

NYSE:AGM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.36x ÷ -3.8%

-2.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Federal Agricultural Mortgage earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Federal Agricultural Mortgage's assets?
Raw Data
NYSE:AGM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $53.69
NYSE:AGM Share Price * NYSE (2019-01-18) in USD $72.33
United States of America Mortgage Industry PB Ratio Median Figure of 143 Publicly-Listed Mortgage Companies 1.09x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.72x
NYSE:AGM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AGM Share Price ÷ Book Value per Share (both in USD)

= 72.33 ÷ 53.69

1.35x

* 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.
X
Value checks
We assess Federal Agricultural Mortgage's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. 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

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

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!
Annual Growth Rate
-3.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Federal Agricultural Mortgage expected to grow at an attractive rate?
  • Federal Agricultural Mortgage's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Federal Agricultural Mortgage's earnings are expected to decrease over the next 1-3 years, this is below 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
Raw Data
NYSE:AGM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AGM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -3.8%
NYSE:AGM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 2%
United States of America Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 8.7%
United States of America Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 6.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*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
Raw Data
NYSE:AGM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AGM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2019-12-31 186 89 1
2018-12-31 173 97 1
NYSE:AGM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 186 270 92
2018-06-30 180 247 84
2018-03-31 172 190 75
2017-12-31 172 175 71
2017-09-30 185 249 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
2016-03-31 144 149 56
2015-12-31 146 185 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Federal Agricultural Mortgage's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Federal Agricultural Mortgage's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AGM 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 1 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.

NYSE:AGM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2019-12-31 8.32 8.32 8.32 1.00
2018-12-31 9.00 9.00 9.00 1.00
NYSE:AGM Past Financials Data
Date (Data in USD Millions) EPS *
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
2016-03-31 5.16
2015-12-31 4.33

*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.
X
Future performance checks
We assess Federal Agricultural Mortgage's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Federal Agricultural Mortgage has a total score of 0/6, 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
Below we compare Federal Agricultural Mortgage's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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 (15% vs 11.1%)
  • Federal Agricultural Mortgage's earnings growth has not exceeded the US Mortgage industry average in the past year (15% vs 15.8%).
Earnings and Revenue History
Federal Agricultural Mortgage's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Federal Agricultural Mortgage Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AGM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 185.64 92.05 46.34
2018-06-30 179.55 84.06 45.09
2018-03-31 172.20 75.21 43.56
2017-12-31 171.75 71.30 42.69
2017-09-30 184.73 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
2012-06-30 48.69 8.20 30.26
2012-03-31 63.69 17.66 30.36

*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.
X
Past performance checks
We assess Federal Agricultural Mortgage's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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

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

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.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Federal Agricultural Mortgage's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
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.
Raw Data

All data from Federal Agricultural Mortgage Company Filings, last reported 3 months ago.

NYSE:AGM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
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
2012-06-30 582.03 11,349.10 937.65
2012-03-31 576.86 11,628.89 1,200.13
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • 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.
X
Financial health checks
We assess Federal Agricultural Mortgage's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Federal Agricultural Mortgage has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
3.21%
Current annual income from Federal Agricultural Mortgage dividends. Estimated to be 3.53% next year.
If you bought $2,000 of Federal Agricultural Mortgage shares you are expected to receive $64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Federal Agricultural Mortgage's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).
  • Federal Agricultural Mortgage's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
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.
Raw Data
NYSE:AGM Annualized Past and Future Dividends
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 1 Analyst Estimates (S&P Global) See Below
United States of America Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 95 Stocks 3.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1986 Stocks 2.7%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
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.

NYSE:AGM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2019-12-31 2.55 1.00
2018-12-31 2.32 1.00
NYSE:AGM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-10-31 2.320 3.577
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
2009-01-20 0.400 11.758

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Federal Agricultural Mortgage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Federal Agricultural Mortgage's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. Federal Agricultural Mortgage has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AGM Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bradford Nordholm
AGE 62
TENURE AS CEO 0.3 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.
  • Insufficient data for Bradford to establish whether their remuneration is reasonable compared to 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:

0.8
Average Tenure
56.5
Average Age
  • The average tenure for the Federal Agricultural Mortgage management team is less than 2 years, this suggests a new team.
Management Team

R. Lynch

TITLE
Executive VP
COMPENSATION
$1M
AGE
51
TENURE
5.9 yrs

Steve Mullery

TITLE
Executive VP
COMPENSATION
$896K
AGE
51
TENURE
6.6 yrs

Curt Covington

TITLE
Executive VP & Chief Credit Officer
COMPENSATION
$907K
AGE
62
TENURE
1 yrs

Bradford Nordholm

TITLE
President & CEO
AGE
62
TENURE
0.3 yrs

Mario Morais

TITLE
Vice President of Operations & Technology
TENURE
0.8 yrs

Charles Grote

TITLE
Senior Vice President of Finance & Investor Relations
TENURE
0.8 yrs

Jalpa Nazareth

TITLE
Manager - Equity Investor Relations

Grace Wu Plaza

TITLE
Director of Compliance & Corporate Integrity
TENURE
0.8 yrs

Megan Murray-Pelaez

TITLE
Director of Marketing & Communications
TENURE
0.8 yrs

Kerry Willie

TITLE
Vice President of Human Capital
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the Federal Agricultural Mortgage board of directors in years:

10.5
Average Tenure
66
Average Age
  • The average tenure for the Federal Agricultural Mortgage board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Lowell Junkins

TITLE
Chairman
COMPENSATION
$153K
AGE
74
TENURE
10.3 yrs

Myles Watts

TITLE
Vice Chairman of the Board
COMPENSATION
$133K
AGE
67
TENURE
6.8 yrs

Dennis Brack

TITLE
Director
COMPENSATION
$125K
AGE
65
TENURE
17.6 yrs

Denny Everson

TITLE
Director
COMPENSATION
$113K
AGE
67
TENURE
14.6 yrs

James Engebretsen

TITLE
Director
COMPENSATION
$113K
AGE
62
TENURE
10.6 yrs

Dick Davidson

TITLE
Director
COMPENSATION
$123K
AGE
73
TENURE
8.6 yrs

Chester Culver

TITLE
Director
COMPENSATION
$113K
AGE
52
TENURE
6.8 yrs

Bruce Sherrick

TITLE
Director
COMPENSATION
$114K
AGE
55
TENURE
6.8 yrs

Mitchell Johnson

TITLE
Director
COMPENSATION
$113K
AGE
76
TENURE
21.6 yrs

Clark Maxwell

TITLE
Director
COMPENSATION
$113K
AGE
46
TENURE
10.6 yrs
Who owns this company?
Recent Insider Trading
  • Federal Agricultural Mortgage insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) 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
05. Jun 18 Sell John Covington Individual 05. Jun 18 05. Jun 18 -1,300 $94.51 $-122,382
04. Jun 18 Sell Sara Faivre-Davis Individual 04. Jun 18 04. Jun 18 -450 $95.10 $-42,795
01. Jun 18 Sell James Engebretsen Individual 31. May 18 31. May 18 -1,000 $92.70 $-92,701
31. May 18 Sell Gregory Ramsay Individual 30. May 18 30. May 18 -476 $91.40 $-43,506
31. May 18 Sell Charles Grote Individual 30. May 18 30. May 18 -595 $93.14 $-55,416
23. May 18 Sell Mitchell Johnson Individual 22. May 18 22. May 18 -1,000 $91.25 $-91,250
23. May 18 Sell John Covington Individual 21. May 18 21. May 18 -4,396 $90.45 $-397,232
21. May 18 Sell Mitchell Johnson Individual 17. May 18 21. May 18 -1,500 $91.25 $-136,147
21. May 18 Sell Dennis Brack Individual 17. May 18 17. May 18 -2,000 $92.31 $-183,071
18. May 18 Sell Bruce Sherrick Individual 16. May 18 16. May 18 -635 $90.38 $-57,391
17. May 18 Sell Myles Watts Individual 17. May 18 17. May 18 -869 $92.00 $-79,948
17. May 18 Sell Thomas Hill Individual 16. May 18 16. May 18 -300 $90.60 $-27,181
17. May 18 Sell Sara Faivre-Davis Individual 15. May 18 15. May 18 -200 $88.77 $-17,755
16. May 18 Sell Dennis Everson Individual 14. May 18 14. May 18 -1,000 $87.91 $-87,910
16. May 18 Sell Mitchell Johnson Individual 14. May 18 16. May 18 -2,500 $90.75 $-224,308
X
Management checks
We assess Federal Agricultural Mortgage's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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

External News
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Simply Wall St News

Federal Agricultural Mortgage Corporation (NYSE:AGM) Insiders Have Been Selling

So we'll take a look at whether insiders have been buying or selling shares in Federal Agricultural Mortgage Corporation (NYSE:AGM). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In total, Federal Agricultural Mortgage insiders sold more than they bought over the last year

Simply Wall St -

2 Days Left Until Federal Agricultural Mortgage Corporation (NYSE:AGM) Trades Ex-Dividend

If you are interested in cashing in on Federal Agricultural Mortgage Corporation's (NYSE:AGM) upcoming dividend of US$0.58 per share, you only have 2 days left to buy the shares before its ex-dividend date, 13 December 2018, in time for dividends payable on the 31 December 2018. … Should you diversify into Federal Agricultural Mortgage and boost your portfolio income stream? … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

Is Federal Agricultural Mortgage Corporation (NYSE:AGM) A Smart Choice For Dividend Investors?

Historically, Federal Agricultural Mortgage Corporation (NYSE:AGM) has been paying a dividend to shareholders. … Does Federal Agricultural Mortgage tick all the boxes of a great dividend stock? … Check out our latest analysis for Federal Agricultural Mortgage

Simply Wall St -

What Are The Drivers Of Federal Agricultural Mortgage Corporation's (NYSE:AGM) Risks?

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. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

Why Are Insiders Pessimistic About Federal Agricultural Mortgage Corporation's (NYSE:AGM) Stock?

Federal Agricultural Mortgage Corporation provides a secondary market for various loans made to borrowers in the United States. … Federal Agricultural Mortgage is one of United States’s. … A research published in The MIT Press (1998) concluded that stocks following insider selling fell 2.7% compared to the market

Simply Wall St -

Is Federal Agricultural Mortgage Corporation's (NYSE:AGM) PE Ratio A Signal To Buy For Investors?

Federal Agricultural Mortgage Corporation (NYSE:AGM) is currently trading at a trailing P/E of 13.6x, which is lower than the industry average of 21.7x. … While this makes AGM appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio. … See our latest analysis for Federal Agricultural Mortgage

Simply Wall St -

What To Know Before Buying Federal Agricultural Mortgage Corporation (NYSE:AGM) For Its Dividend

In the past 10 years Federal Agricultural Mortgage Corporation (NYSE:AGM) has returned an average of 2.00% per year to investors in the form of dividend payouts. … Does Federal Agricultural Mortgage tick all the boxes of a great dividend stock? … View out our latest analysis for Federal Agricultural Mortgage

Simply Wall St -

Federal Agricultural Mortgage Corporation (NYSE:AGM) Delivered A Better ROE Than The Industry, Here’s Why

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between Federal Agricultural Mortgage Corporation (NYSE:AGM)’s return fundamentals and stock market performance. … With an ROE of 11.84%, Federal Agricultural Mortgage Corporation (NYSE:AGM) outpaced its own industry which delivered a less exciting 5.71% over the past year.

Simply Wall St -

Only 5 Days Left Before Federal Agricultural Mortgage Corporation (NYSE:AGM) Will Start Trading Ex-Dividend, Should You Buy?

Federal Agricultural Mortgage Corporation (NYSE:AGM) will be distributing its dividend of $0.58 per share on the 29 June 2018, and will start trading ex-dividend in 5 days time on the 14 June 2018. … Should you diversify into Federal Agricultural Mortgage and boost your portfolio income stream? … View out our latest analysis for Federal Agricultural Mortgage?

Simply Wall St -

Is Federal Agricultural Mortgage Corporation (NYSE:AGM) An Attractive Dividend Stock?

In the past 10 years Federal Agricultural Mortgage Corporation (NYSE:AGM) has returned an average of 2.00% per year to investors in the form of dividend payouts. … Check out our latest analysis for Federal Agricultural Mortgage 5 checks you should do on a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … NYSE:AGM Historical Dividend Yield Mar 8th 18 Does Federal Agricultural Mortgage pass our checks?

Simply Wall St -

AGM Company Info

Map
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 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 electric and telephone loans. The Institutional Credit segment engages in purchasing and guaranteeing general obligations of institutions that are secured by types 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
$759,973,000
10,668,631
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.PRB NCUM PFD SER B New York Stock Exchange US USD 24. Mar 2014
NYSE AGM.PRC PFD C FIX TO FLT New York Stock Exchange US USD 20. Jun 2014
Number of employees
Current staff
Staff numbers
88
Federal Agricultural Mortgage employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/18 23:36
End of day share price update: 2019/01/18 00:00
Last estimates confirmation: 2018/11/14
Last earnings filing: 2018/11/08
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.