FEDERAL AGRICULTURAL MORTGAGE NON (AGM)
Financials · Agricultural secondary market / mortgage GSE · NYSE
Farmer Mac is a government-sponsored secondary market lender that purchases agricultural and rural loans from originators, securitizes them, and provides liquidity to the farm lending market.
What FEDERAL AGRICULTURAL MORTGAGE NON does
Federal Agricultural Mortgage Corporation (Farmer Mac) is a government-sponsored enterprise that operates a secondary market for agricultural and rural loans, purchasing eligible loans from originators and providing liquidity to rural lenders. The company purchases agricultural real estate loans, USDA-guaranteed loans, and rural development loans directly from lenders, while also guaranteeing and securitizing pools of eligible loans into Farmer Mac Guaranteed Securities and AgVantage securities. Revenue comes primarily from net interest income on its loan portfolio and guarantee/commitment fees on outstanding securities and long-term standby purchase commitments.
Themes: ["Agricultural finance / secondary market","Rural credit / rural development","Mortgage-backed securities","Government-sponsored enterprise","Farm lending / agricultural lending","Infrastructure financing (rural broadband, renewable energy)"]
Fundamentals
- Price$199.86 as of 2026-07-09 close
- Market cap$2.1B as of 2026-07-10
- 1-year return+1.0% as of 2026-07-09 close
- P/E9.59 as of 2026-07-10
- Net margin+13.2% as of 2026-07-10
- Gross margin+25.6% as of 2026-07-10
- ROE+13.0% as of 2026-07-10
- Debt / equity20.10 as of 2026-07-10
- Revenue growth (YoY)+3.7% as of 2026-07-10
- Beta1.04 as of 2026-07-10
Dividend: yield +3.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Portfolio credit risk exposure to agricultural and rural borrowers, concentrated in commodity-dependent sectors vulnerable to price volatility and weather-related losses","Interest rate risk from duration mismatch between assets and funding obligations, with exposure to capital markets volatility affecting debt issuance costs","Regulatory and legislative risk as a government-sponsored enterprise subject to Farm Credit Administration oversight and Congressional charter amendments"]
Competitors & peers
- Farm Credit System institutions (FCB banks and PCA associations)
- Freddie Mac (residential mortgage secondary market analogue)
- Fannie Mae (residential mortgage secondary market analogue)
- Agricultural Credit Associations
- Commercial banks with agricultural lending divisions
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.