ADC vs WPC vs FCPT Stock Comparison

Agree Realty, W. P. Carey and Four Corners Property Trust Prices as of Nov 2, 2026 Peers: Industry group
ADC Agree Realty Corp
$68.49 +3.9% 1M -6.2% 1Y
Market cap
$8.91B
P/E
36.5x
Revenue (TTM)
$810.28M
Div. yield
4.67%
Net Lease REITs Real Estate
4 wins
WPC W. P. Carey Inc.
$64.76 +0.4% 1M -1.9% 1Y
Market cap
$14.90B
P/E
23.0x
Revenue (TTM)
$1.83B
Div. yield
5.78%
Net Lease REITs Real Estate
3 wins

Head to Head

12 decided of 12

Four Corners Property Trust leads on 5 of the 12 questions below (Four Corners Property Trust 5, Agree Realty 4, W. P. Carey 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionADCWPCFCPTLeader
Larger companyMarket capitalisation $8.91B $14.90B $2.55B WPC
Cheaper on earningsLower P/E, profitable companies only 36.5x 23.0x 21.4x FCPT
Cheaper on forward earningsLower price / next fiscal year consensus EPS 38.0x 20.2x 21.5x WPC
Faster revenue growthRevenue growth, trailing twelve months +17.7% +9.0% +10.2% ADC
More profitableNet margin, trailing twelve months 28.8% 35.6% 37.5% FCPT
Better return on capitalReturn on invested capital 3.7% 5.4% 5.3% WPC
Less leveragedLower net debt / EBITDA 5.8x 5.5x 4.7x FCPT
Higher dividend yieldTrailing dividend yield 4.67% 5.78% 6.88% FCPT
Better 1-year returnPrice return, last 12 months -6.2% -1.9% -1.8% FCPT
Better 5-year returnAnnualised price return, 5 years -0.6%/yr -3.4%/yr -4.3%/yr ADC
Less volatileAnnualised volatility, 1 year 17.9% 18.4% 20.1% ADC
Higher overall scoreMean of the five percentile scores vs peers 52/100 43/100 50/100 ADC

Percentile Scorecard

ADCWPCFCPT

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisADCWPCFCPT
Valuation 8 #134 of 145 35 #95 of 145 22 #114 of 145
Growth 84 #24 of 144 31 #100 of 144 67 #48 of 144
Profitability 63 #53 of 140 73 #38 of 140 66 #49 of 140
Financial Health 80 #30 of 146 57 #64 of 146 72 #42 of 146
Shareholder Returns 27 #97 of 132 21 #104 of 132 26 #98 of 132
Overall 52 43 50
  • ADC ranked among 149 companies in Property REITs
  • WPC ranked among 149 companies in Property REITs
  • FCPT ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodADCWPCFCPTSPY
1 month +3.9%+0.4%+7.7% -2.3%
3 months -11.0%-11.2%-8.3% -0.7%
6 months -9.9%-10.6%-7.5% +4.8%
Year to date -4.9%+0.6%+0.7% +10.3%
1 year -6.2%-1.9%-1.8% +10.3%
3 years +16.1%+17.6%+4.0% +73.0%
3 years, per year +5.1%+5.6%+1.3% +20.1%
5 years -2.7%-15.7%-19.8% +61.9%
5 years, per year -0.6%-3.4%-4.3% +10.1%
10 years +48.1%+12.6%+18.0% +258.6%
10 years, per year +4.0%+1.2%+1.7% +13.6%

Risk

MeasureADCWPCFCPTSPY
Volatility, 1Y 17.9%18.4%20.1% 12.8%
Downside volatility, 1Y 18.8%19.4%19.6% 12.8%
Beta vs S&P 500, 1Y -0.25-0.08-0.12 1.00
Return / volatility, 1Y -0.35-0.10-0.09 0.80
Max drawdown, 5Y -33.0%-41.5%-31.3% -25.4%
From 52-week high -16.4%-15.6%-12.4% -3.5%
52-week high $81.92$76.72$26.49 $779.14
52-week low $64.51$62.57$21.03 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleADCWPCFCPT
P/E now vs peer median 36.5xmedian 26.3x 23.0xmedian 26.3x 21.4xmedian 26.3x
P/S now vs peer median 11.0xmedian 4.2x 8.2xmedian 4.2x 8.1xmedian 4.2x
EV/EBITDA now vs peer median 19.9xmedian 14.4x 15.0xmedian 14.4x 17.4xmedian 14.4x
P/FCF now vs peer median -9.3xmedian 23.9x -15.7xmedian 23.9x -8.3xmedian 23.9x
P/B now vs peer median 1.3xmedian 1.3x 1.7xmedian 1.3x 1.6xmedian 1.3x
PEG now vs peer median 7.23median 1.98 -2.91median 1.98 15.17median 1.98

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsADCWPCFCPT
Revenue $810.28M $1.83B $315.93M
Gross profit – – $270.97M
Operating income $395.87M – $130.49M
Net income $241.79M $657.85M $118.71M
Free cash flow -$957.20M -$948.07M -$306.98M
EPS (diluted) $1.88 $2.81 $1.08
Cash & equivalents $80.56M $143.39M $7.20M
Total debt $3.72B $8.78B $946.38M
Shares (diluted) 124.60M 231.70M 109.84M
Enterprise value $8.78B $14.22B $2.48B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricADCWPCFCPT
P/E 36.5x 23.0x 21.4x
P/FCF -9.3x -15.7x -8.3x
P/Operating cash flow 15.6x 12.0x 12.3x
P/S 11.0x 8.2x 8.1x
P/B 1.3x 1.7x 1.6x
P/Tangible book 1.5x 1.7x 1.7x
EV/EBITDA 19.9x 15.0x 17.4x
EV/EBIT 31.7x 23.4x 26.7x
EV/Revenue 15.5x 12.9x 11.0x
EV/FCF -13.1x -24.8x -11.4x
EV/Operating cash flow 21.9x 18.9x 16.8x
PEG (3Y EPS CAGR) 7.23 -2.91 15.17

Growth

14 metrics
MetricADCWPCFCPT
Revenue growth (1Y) 17.7% 9.0% 10.2%
Revenue CAGR (3Y) 16.7% 1.8% 9.2%
Gross profit growth (1Y) – – 11.0%
Gross profit CAGR (3Y) – – 10.1%
Operating income growth (1Y) 22.4% – 11.5%
Operating income CAGR (3Y) 17.7% – 12.1%
Net income growth (1Y) 24.5% 80.0% 8.7%
Net income CAGR (3Y) 13.5% -5.3% 8.1%
EPS growth (1Y) 12.4% 70.1% 3.1%
EPS CAGR (3Y) 5.0% -7.9% 1.4%
Operating cash flow growth (1Y) 18.1% -2.4% 16.5%
Operating cash flow CAGR (3Y) 13.9% 3.7% 8.6%
Free cash flow growth (1Y) -0.7% -11,395% -64.2%
Free cash flow CAGR (3Y) 5.5% -194.3% -1.7%

Profitability

14 metrics
MetricADCWPCFCPT
Gross margin – – 85.8%
EBITDA margin 78.0% 85.8% 63.5%
Operating margin 48.9% – 41.3%
Pretax margin 29.9% 38.0% 23.1%
Net margin 28.8% 35.6% 37.5%
FCF margin -118.1% -51.9% -97.2%
Operating cash flow margin 70.6% 68.0% 65.5%
Return on equity 3.6% 7.5% 7.3%
Return on assets 2.2% 3.5% 3.8%
Return on invested capital 3.7% 5.4% 5.3%
Return on capital employed – – –
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) 2.4x 1.9x 1.7x
Stock comp / revenue 1.8% 2.2% 2.9%

Financial Health

11 metrics
MetricADCWPCFCPT
Debt / assets 33.9% 47.1% 28.7%
Debt / equity 0.5x 1.0x 0.6x
Net debt / EBITDA 5.8x 5.5x 4.7x
Debt / FCF -3.9x -9.3x -3.1x
Liabilities / assets 36.6% 53.0% 50.6%
Equity / assets 63.4% 47.0% 49.4%
Interest coverage 2.6x 3.2x 2.3x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricADCWPCFCPT
Dividend yield 4.7% 5.8% 6.9%
Net buyback yield -13.0% -5.0% -5.6%
Shareholder yield -8.4% 0.8% 1.3%
Payout ratio (earnings) 157.0% 126.2% –
Payout ratio (FCF) -39.7% -87.5% –
Dividend growth (1Y) 15.2% 6.1% –
Dividend CAGR (3Y) 12.5% -3.0% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusADCWPCFCPT
Forward P/E 38.0xFY2026 20.2xFY2026 21.5xFY2026
EPS, next fiscal year $1.80FY2026 $3.20FY2026 $1.08FY2026
EPS growth, next FY +1.7%FY2026 +31.7%FY2026 -0.9%FY2026
EPS growth, the year after +15.0% 0.0% +10.2%
Revenue, next fiscal year $784.46MFY2026 $1.79BFY2026 $341.68MFY2026
Revenue growth, next FY +9.2%FY2026 +4.2%FY2026 +16.2%FY2026
Revenue growth, the year after +22.0% +16.0% -6.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersADCWPCFCPT
Held by institutions 100.0% 78.4% 100.0%
Institutions holding 500 899 352
Change in shares held, QoQ +2.2% +4.2% +0.4%
Institutions buying 248 453 179
Institutions selling 159 296 99
Buyers to sellers 1.56 1.53 1.81

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ADCWPCFCPT
ADC 1.00 0.76 0.76
WPC 0.76 1.00 0.68
FCPT 0.76 0.68 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ADC, WPC and FCPT?

W. P. Carey (WPC) is the largest by market capitalisation: Agree Realty (ADC) $8.91B, W. P. Carey (WPC) $14.90B, Four Corners Property Trust (FCPT) $2.55B.

Which stock is cheaper, ADC, WPC and FCPT?

Four Corners Property Trust (FCPT) trades on the lowest price-to-earnings ratio (Agree Realty (ADC) 36.5x, W. P. Carey (WPC) 23.0x, Four Corners Property Trust (FCPT) 21.4x). On next year's consensus earnings, W. P. Carey (WPC) is cheapest (Agree Realty (ADC) 38.0x, W. P. Carey (WPC) 20.2x, Four Corners Property Trust (FCPT) 21.5x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Agree Realty (ADC) grew revenue fastest over the trailing twelve months: Agree Realty (ADC) +17.7%, W. P. Carey (WPC) +9.0%, Four Corners Property Trust (FCPT) +10.2%.

Which company is more profitable?

Four Corners Property Trust (FCPT) has the highest net margin (Agree Realty (ADC) 28.8%, W. P. Carey (WPC) 35.6%, Four Corners Property Trust (FCPT) 37.5%). On return on invested capital, W. P. Carey (WPC) leads (Agree Realty (ADC) 3.7%, W. P. Carey (WPC) 5.4%, Four Corners Property Trust (FCPT) 5.3%).

Which stock has performed better?

Over the past year Four Corners Property Trust (FCPT) returned the most: Agree Realty (ADC) -6.2%, W. P. Carey (WPC) -1.9%, Four Corners Property Trust (FCPT) -1.8%. Over five years, Agree Realty (ADC) compounded fastest (Agree Realty (ADC) -0.6%/yr, W. P. Carey (WPC) -3.4%/yr, Four Corners Property Trust (FCPT) -4.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Four Corners Property Trust (FCPT) has the highest dividend yield: Agree Realty (ADC) 4.67%, W. P. Carey (WPC) 5.78%, Four Corners Property Trust (FCPT) 6.88%.

Which stock is riskier?

By one-year price volatility, Agree Realty (ADC) has been the steadiest (Agree Realty (ADC) 17.9%, W. P. Carey (WPC) 18.4%, Four Corners Property Trust (FCPT) 20.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ADC, WPC and FCPT?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Four Corners Property Trust (FCPT) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.