Financial Statements

Agree Realty Corporation (ADC)

$56.68

+0.93 (+1.66%)

Cash Flow Statement

All numbers are in thousands
Year XLSX
2023
XLSX
2022
XLSX
2021
XLSX
2020
XLSX
2019
Operating Cash Flow 388,052362,121246,315142,956126,707
Net Income 169,554153,035122,87691,97280,763
Depreciation & Amortization 174,613166,907120,01382,64359,204
Deferred income taxes -352,266-3,726-26,535-10,909
Stock-based compensation 8,3386,4644,7984,7023,980
Change in working capital 5,41920,738-8,708-11,270-7,615
Other non-cash items 382,39414,9773,6101,4441,284
Investing Cash Flow -1,274,997-1,615,975-1,386,615-1,299,842-667,519
Investment purchases -1,288,393-1,660,386-1,442,149-1,346,313-732,572
Other Investing Activites 13,39644,41155,53446,47165,053
Financing Cash Flow 872,5601,237,5131,177,5951,122,684528,994
Debt repayment -471,473-1,119,490-240,799-3,683-42,947
Dividends payments -285,113-227,742-195,825-116,112-90,257
Common Stock Repurchased -2,684-1,912-1,813-1,641-1,406
Common Stock Issuance 689,8961,257,823744,847896,118472,746
Other Financing Activites 941,9341,328,834871,185348,002190,858
Accounts receivables -5,086799-16,304-11,983-6,071
Accounts payables 10,38415,0486062,216606
Inventory ---606-2,216-606
Other working capital 1214,8917,596713-1,544
Cash at beginning of period 28,90945,2507,95542,15753,975
Cash at end of period 14,52428,90945,2507,95542,157
Net cash flow / Change in cash -14,385-16,34137,295-34,202-11,818
Free Cash Flow 388,052362,121246,315142,956126,707

Agree Realty Corporation income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes Agree Realty Corporation FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.