Federal Agricultural Mortgage Corporation (AGM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 92.05M | 103.41M | 74.19M | -47.72M | -49.82M | 367.53M | -44.35M | 56.13M | 233.34M | -166.85M | 362.99M | 119.1M | 60.56M | 103.01M | 180.25M | 256.7M | 269.31M | 3.19M | 127.45M | -92.02M |
| Operating CF Margin % | 22.13% | 95.84% | 17.63% | -11.78% | -12.95% | 91.03% | -10.79% | 13.82% | 57.82% | -47.11% | 92.77% | 34.05% | 18.88% | 37.77% | 91.12% | 174.68% | 196.32% | 2.8% | 114.28% | -85.69% |
| Operating CF Growth % | 284.77% | -71.86% | 267.29% | -185.02% | -121.35% | 320.28% | -112.22% | -52.87% | 285.29% | -261.97% | 101.38% | -53.6% | -77.51% | 3126.21% | 41.43% | 378.96% | -32.3% | -97.56% | 56.31% | -493.82% |
| Net Income | 59.12M | 47.92M | 55M | 54.84M | 49.65M | 56.51M | 49.83M | 47.1M | 53.75M | 47.62M | 58.14M | 47.21M | 47.03M | 43.42M | 40.99M | 45.9M | 47.84M | 36.68M | 31.06M | 31.29M |
| Depreciation & Amortization | -5.09M | -4.96M | -11.8M | 0 | -4.78M | 0 | -11.8M | 0 | 0 | -259.31M | 274.96M | 132.62M | -2.34M | -6.47M | 2.46M | 2.82M | 1.91M | 17.31M | 54.1M | -116.7M |
| Stock-Based Compensation | 3M | 1.71M | 1.36M | 1.75M | 3.53M | 1.56M | 1.49M | 1.55M | 3.48M | 2.1M | 1.22M | 1.22M | 2.25M | 817K | 832K | 862K | 2.11M | 1M | 749K | 892K |
| Deferred Taxes | 0 | 3.47M | -1.57M | -1.89M | 0 | 768K | -4.8M | 1.34M | 2.69M | -2.61M | -1.01M | -2.12M | 12.44M | -2.41M | 11.05M | 1.55M | 2.22M | -658K | -1.27M | -1.41M |
| Other Non-Cash Items | 35.02M | -11.48M | -39.95M | -60.91M | -68.57M | 268.57M | -180.06M | 37.5M | 138.59M | 5.01M | 1.25M | 754K | -34.27M | 40.96M | 221.85M | 232.74M | 248.32M | -40.84M | 14.68M | 4.69M |
| Working Capital Changes | 0 | 66.76M | 71.15M | -41.5M | -29.65M | 40.12M | 101M | -31.38M | 34.83M | 40.34M | 28.43M | -60.58M | 35.44M | 26.7M | -96.94M | -27.16M | -33.1M | -10.31M | 28.13M | -10.78M |
| Change in Receivables | 0 | -75.4M | 9.71M | -53.22M | 43.51M | -59.24M | 28.51M | -41.19M | 40.28M | -56.9M | 1.54M | -39.81M | 29.52M | -61.79M | -415K | -29.81M | 29.28M | -33.66M | 16.41M | -19.54M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 11.34M | -11.34M | 0 | -19.53M | 20.47M | 0 | 21.05M | 9.69M | 28.17M | 2.04M | 24.05M | 27.07M | 21.99M | 4.06M | 5.77M | 729K | 1.2M | -3.16M |
| Cash from Investing | -1.57B | -1.9B | -528.24M | -1.04B | -345.88M | -782.95M | -265.68M | -108.38M | -525.47M | -674.98M | -997.98M | 178.88M | -461.31M | -992.07M | -628.77M | -705.3M | -716.82M | -344.49M | -541.77M | -274.53M |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | 0 | -66K | -3.57M | -1.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | 0.02% | 0.88% | 0.41% | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 35.45B | 35.15B | 32.01B | 31.48B | 30.36B | 29.81B | 29.38B | 28.76B | 28.59B | 28.16B | 27.03B | 26.29B | 26.67B | 25.91B | 25.15B | 24.63B | 24.58B | 23.94B | 23.62B | 23.12B |
| Other Investing | 384.95M | 698.9M | 1.38B | -821.09M | 235.15M | -921.06M | -514.9M | -1.44B | -229.91M | -361.61M | -55.81M | -259.74M | -123.3M | -225.78M | -304.68M | -477.06M | -254.41M | -241.36M | -194.35M | -298.85M |
| Cash from Financing | 1.32B | 1.83B | 324.74M | 1.07B | 419.82M | 597.37M | 229.12M | 230.1M | 148.54M | 948.22M | 543.22M | -288.49M | 404.35M | 881.82M | 407.32M | 467.98M | 428.77M | 351.03M | 484.98M | 182.42M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | -97.11M | 96.95M | 80K | 79K | 78K | -74.92M | -1.04M | 64K | 64K | 64K | 54K | 51K | 52K | 48K | 46K | 46K | 46K | 46K | -1.18M |
| Dividends Paid | -24.63M | -22.89M | -22.07M | -22.07M | -22.02M | -20M | -22.05M | -22.02M | -21.98M | -18.72M | -18.71M | -18.71M | -18.67M | -17.05M | -17.05M | -17.05M | -17.02M | -16.27M | -15.59M | -14.74M |
| Share Repurchases | -7.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1.34B | 3.73B | -72K | -76K | -4.96M | -963K | -482K | 67K | -2.86M | -166K | -507K | -2.36M | 18K | -46K | -329K | -1.34M | -119K | 0 | 0 | 121.34M |
| Net Change in Cash | -157.13M | 30.04M | -129.31M | -17.81M | 24.13M | 181.95M | -80.91M | 177.86M | -143.6M | 106.39M | -91.77M | 9.5M | 3.59M | -7.23M | -41.2M | 19.38M | -18.74M | 9.73M | 70.65M | -184.14M |
| Free Cash Flow | 92.05M | 103.41M | 74.19M | -47.72M | -49.82M | 367.53M | -44.42M | 52.56M | 231.7M | -166.85M | 362.99M | 119.1M | 60.56M | 103.01M | 180.25M | 256.7M | 269.31M | 3.19M | 127.45M | -92.02M |
| FCF Margin % | 22.13% | 95.84% | 17.63% | -11.78% | -12.95% | 91.03% | -10.8% | 12.94% | 57.41% | -47.11% | 92.77% | 34.05% | 18.88% | 37.77% | 91.12% | 174.68% | 196.32% | 2.8% | 114.28% | -85.69% |
| FCF Growth % | 284.77% | -71.86% | 267.04% | -190.79% | -121.5% | 320.28% | -112.24% | -55.87% | 282.58% | -261.97% | 101.38% | -53.6% | -77.51% | 3126.21% | 41.43% | 378.96% | -32.3% | -97.56% | 56.31% | -493.82% |
| FCF per Share | 7.13 | 8.01 | 6.76 | -4.35 | -4.54 | 33.50 | -4.05 | 4.80 | 21.12 | -15.23 | 33.19 | 10.91 | 5.55 | 9.46 | 16.58 | 23.63 | 24.74 | 0.29 | 11.75 | -8.49 |
| FCF Conversion (FCF/Net Income) | 1.78x | 2.16x | 1.35x | -0.87x | -1.00x | 6.50x | -0.89x | 1.19x | 4.34x | -3.50x | 6.24x | 2.52x | 1.29x | 2.37x | 4.35x | 6.13x | 5.23x | 0.09x | 3.61x | -2.94x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |