Agree Realty (ADC) Operating Expenses (2010 - 2026)
Agree Realty (ADC) posted Operating Expenses of $112.31 million for Q2 2026, up 18.2% from $95.03 million a year earlier and up 7.5% from the prior quarter.
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Analysis
Agree Realty (ADC) Operating Expenses (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Agree Realty was $413.92 million, up 17.0% year-over-year; for FY2025, it came in at $383.39 million, up 17.5% from FY2024.
- Annual Operating Expenses has increased for 14 consecutive years, with a five-year compound annual growth rate of 25.4% (FY2020 to FY2025).
- In prior years, Agree Realty's Operating Expenses was $326.29 million in FY2024 (+14.5%), $284.96 million in FY2023 (+31.3%), $216.99 million in FY2022 (+32.2%) and $164.17 million in FY2021 (+33.0%).
- The Q2 2026 figure stands as the highest quarterly Operating Expenses in data going back to Q2 2010.
- On a year-over-year basis, Operating Expenses has increased in each of the last 34 quarters, with growth averaging 15.7% over the last eight quarters.
- Over the past five years, the year-over-year growth in Operating Expenses ranged from 10.8% (Q3 2024) to 36.6% (Q3 2022).
- According to Business Quant data, Operating Expenses for the three prior quarters was $104.48 million (Q1 2026), $100.1 million (Q4 2025) and $97.02 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 167.95 Bn | 150.46 Bn | 1.39 Bn | 3.22 Bn |
| 2 | Prologis | 123.54 Bn | 127.93 Bn | - | 1.47 Bn |
| 3 | Simon Property | 66.76 Bn | 68.02 Bn | - | 900.79 Mn |
| 4 | Realty Income | 52.37 Bn | 54.76 Bn | - | 1.19 Bn |
| 5 | Public Storage | 50.03 Bn | 49.11 Bn | - | 766.20 Mn |
| 6 | Ventas | 44.65 Bn | 43.84 Bn | - | 1.68 Bn |
| 7 | Extra Space Storage | 27.81 Bn | 27.81 Bn | 642.43 Mn | 481.97 Mn |
| 8 | Vici Properties | 25.53 Bn | 23.65 Bn | 1.05 Bn | 315.61 Mn |
| 9 | Vivmark Residential | 23.01 Bn | 23.20 Bn | - | 566.18 Mn |
| 10 | Agree Realty | 8.37 Bn | 8.31 Bn | - | 112.31 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 112.31 Mn |
| Mar 31, 2026 | 104.48 Mn |
| Dec 31, 2025 | 100.10 Mn |
| Sep 30, 2025 | 97.02 Mn |
| Jun 30, 2025 | 95.03 Mn |
| Mar 31, 2025 | 91.24 Mn |
| Dec 31, 2024 | 85.83 Mn |
| Sep 30, 2024 | 81.68 Mn |
| Jun 30, 2024 | 77.78 Mn |
| Mar 31, 2024 | 81.00 Mn |
| Dec 31, 2023 | 76.54 Mn |
| Sep 30, 2023 | 73.72 Mn |
| Jun 30, 2023 | 68.59 Mn |
| Mar 31, 2023 | 66.11 Mn |
| Dec 31, 2022 | 59.14 Mn |
| Sep 30, 2022 | 55.64 Mn |
| Jun 30, 2022 | 52.53 Mn |
| Mar 31, 2022 | 49.69 Mn |
| Dec 31, 2021 | 46.30 Mn |
| Sep 30, 2021 | 40.72 Mn |
API Access
Agree Realty Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ADC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ADC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ADC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();