AGM
Financial ServicesFederal Agricultural Mortgage Corporation · Financial - Credit Services · $2B
What is Federal Agricultural Mortgage Corporation?
Federal Agricultural Mortgage Corporation — commonly known as Farmer Mac — operates a government-sponsored secondary market for agricultural and rural loans across the United States. Founded in 1987 and headquartered in Washington, D.C., it plays a unique role in rural finance.
Farmer Mac creates liquidity for lenders by purchasing, guaranteeing, and securitizing loans tied to agricultural real estate, USDA-backed rural development, rural utilities infrastructure, and institutional credit. Lenders originate eligible loans, then sell or pledge them to Farmer Mac, freeing up capital to make new loans. The corporation earns income through guarantee fees, net interest spread, and related financial services — functioning somewhat like a Fannie Mae or Freddie Mac, but focused exclusively on the agricultural and rural sectors.
Farmer Mac was established in 1987 and is headquartered in Washington, D.C.
- Farm & Ranch mortgage loan purchases and securitization
- USDA-guaranteed agricultural and rural development loan purchases
- Rural utilities loan guarantees for electric and telecom cooperatives
- Institutional Credit guarantees backed by pools of eligible loans
- Long-term standby purchase commitments for lenders
Is AGM a Good Stock to Buy?
UQS Score rates AGM as Below Average overall, reflecting meaningful headwinds across several key dimensions.
Valuation stands out as the relative bright spot in AGM's profile, rated Good — suggesting the stock may be priced more reasonably than many peers in the financial services sector. Quality and Moat both register as Neutral, indicating the business model has some structural stability through its government-sponsored charter, even if it lacks a dominant competitive edge.
Growth and Risk are both rated Weak, which are significant concerns — pointing to limited earnings expansion potential and elevated exposure to credit, interest rate, or sector-specific risks.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does AGM pay dividends?
Yes — Federal Agricultural Mortgage Corporation pays a dividend.
AGM pays a regular dividend, consistent with its role as a government-sponsored financial intermediary generating steady net interest income. Income-oriented investors often find Farmer Mac's dividend cadence appealing relative to higher-growth peers that reinvest all earnings. That said, the Weak Risk pillar warrants attention — dividend sustainability depends on credit quality and interest rate conditions in the agricultural lending market.
When does AGM report earnings?
Federal Agricultural Mortgage Corporation reports earnings on a quarterly cadence, typical for US-listed financial services equities.
Farmer Mac's results tend to reflect movements in agricultural credit demand, interest rate spreads, and USDA program activity. The Weak Growth pillar suggests recent earnings momentum has been limited relative to sector peers. Investors should monitor net effective spread trends and outstanding business volume as key indicators.
For the most recent quarter's results and guidance, visit Federal Agricultural Mortgage Corporation's official investor relations page.
AGM Price History
+98.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Federal Agricultural Mortgage Corporation?
Based on Federal Agricultural Mortgage Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
AGM Long-term Outlook
The combination of a Weak Growth pillar and Weak Risk pillar suggests a cautious fundamental outlook for AGM in the near term. While the government-sponsored structure provides a degree of stability, agricultural credit cycles and interest rate sensitivity create meaningful uncertainty. The Good Valuation rating may offer some downside cushion, but it does not offset the structural growth constraints visible in the UQS profile.
Growth drivers
- Expansion of outstanding loan volume across Farm & Ranch and Rural Utilities segments
- Increased USDA-guaranteed loan activity tied to rural development policy
- Potential spread income improvement if interest rate conditions stabilize
Key risks
- Agricultural credit quality deterioration driven by commodity price swings or weather events
- Interest rate sensitivity compressing net effective spread income
- Limited pricing power as a government-sponsored entity operating within regulatory constraints
AGM vs Peers
Farmer Mac operates in a distinct niche, but it competes broadly within the specialty finance and alternative lending space alongside these peers.
Qfin operates a technology-driven consumer credit platform in China, contrasting sharply with Farmer Mac's government-sponsored agricultural focus in the U.S.
EZCORP provides pawn-based consumer lending and retail services, serving a very different borrower profile than Farmer Mac's agricultural and rural institutional clients.
LendingClub is a digital marketplace lender focused on personal and small business loans, operating without the government-sponsored charter that defines Farmer Mac's model.
Frequently Asked Questions
What does Federal Agricultural Mortgage Corporation do?
Farmer Mac operates a secondary market for agricultural and rural loans in the United States. It purchases, guarantees, and securitizes loans from lenders — covering farm real estate, USDA-backed rural development, rural utilities, and institutional credit. This process provides liquidity to rural lenders so they can continue originating new loans.
Does AGM pay dividends?
Yes, Federal Agricultural Mortgage Corporation pays a regular dividend. Its government-sponsored structure and net interest income model support consistent dividend distributions. Investors should review the company's investor relations page for the current dividend rate and payment schedule, and weigh the Weak Risk pillar when assessing sustainability.
When does AGM report earnings?
AGM reports on a standard quarterly cadence, as is typical for U.S.-listed financial services companies. For the exact timing of upcoming earnings releases, check Federal Agricultural Mortgage Corporation's investor relations page directly.
Is AGM a good stock to buy?
UQS Score rates AGM as Below Average overall. The Valuation pillar is rated Good, which may appeal to value-oriented investors, but the Weak Growth and Weak Risk ratings highlight meaningful concerns. Whether AGM fits a portfolio depends on individual risk tolerance and investment goals — the full pillar breakdown is available to Pro members.
Is AGM overvalued?
The UQS Valuation pillar for AGM is rated Good, suggesting the stock is not obviously overpriced relative to its fundamentals and sector peers. However, valuation alone does not tell the full story — the Weak Growth and Risk ratings are important context. Pro members can view the complete valuation metrics behind this rating.
How does AGM compare to its competitors?
Farmer Mac occupies a unique niche as a government-sponsored agricultural secondary market operator, which distinguishes it from peers like LendingClub, EZCORP, and Qfin Holdings. Those companies serve consumer or technology-driven lending markets without a government charter. AGM's competitive position is shaped more by regulatory structure than by direct product competition.
What is AGM's market cap bracket?
Federal Agricultural Mortgage Corporation is classified as a small-cap company. This places it in a segment of the market that can offer differentiated exposure but may also carry lower liquidity and higher volatility compared to large- or mega-cap financial services firms.
Who founded Federal Agricultural Mortgage Corporation?
Federal Agricultural Mortgage Corporation was established by an act of the U.S. Congress in 1987 as a government-sponsored enterprise to support liquidity in agricultural lending markets. It is headquartered in Washington, D.C. Detailed founding history is publicly available through the company's official disclosures.
Is AGM a long-term quality investment?
As a long-term quality indicator, AGM's UQS profile presents a mixed picture. The Neutral Quality and Moat ratings suggest a structurally stable but not particularly differentiated business. The Weak Growth and Risk pillars temper long-term confidence. Investors focused on long-term compounding may want to review the full analysis available to Pro members.
What is the main competitive advantage of Federal Agricultural Mortgage Corporation?
Farmer Mac's primary structural advantage is its government-sponsored enterprise status, which grants it access to capital markets on favorable terms and a congressionally authorized mandate in agricultural secondary markets. This charter creates a meaningful barrier to entry that most private-sector lenders cannot replicate, though it also comes with regulatory constraints.
What sector does AGM belong to?
AGM operates in the Financial Services sector, specifically within the specialty finance and government-sponsored enterprise segment. Its focus on agricultural and rural lending markets makes it a relatively niche player compared to broader banking or consumer finance companies in the same sector.
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Pro Analysis
AGM — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 44.4 | 69.4 | 42.0 | 28.0 | 0.0 | 72.9 | 0.0 |
| May 21, 2026 | 44.4 | 69.4 | 42.0 | 28.0 | 0.0 | 73.1 | -0.1 |
| May 20, 2026 | 44.5 | 69.4 | 42.0 | 28.0 | 0.0 | 73.3 | +0.1 |
| May 19, 2026 | 44.4 | 69.4 | 42.0 | 28.0 | 0.0 | 73.1 | 0.0 |
| May 16, 2026 | 44.4 | 69.4 | 42.0 | 28.0 | 0.0 | 73.2 | 0.0 |
| May 15, 2026 | 44.4 | 69.4 | 42.0 | 28.0 | 0.0 | 73.1 | +0.2 |
| May 14, 2026 | 44.2 | 69.4 | 42.0 | 26.5 | 0.0 | 73.3 | +0.1 |
| May 12, 2026 | 44.1 | 69.4 | 42.0 | 26.5 | 0.0 | 72.9 | 0.0 |
| May 11, 2026 | 44.1 | 69.4 | 42.0 | 26.5 | 0.0 | 72.7 | +3.1 |
| May 7, 2026 | 41.0 | 57.3 | 42.0 | 26.2 | 0.0 | 72.8 | 0.0 |
AGM — Pillar Breakdown
Quality
— 69.4/100 (25%)Federal Agricultural Mortgage Corporation shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 28.0/100 (20%)Federal Agricultural Mortgage Corporation faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 0.0/100 (15%)Federal Agricultural Mortgage Corporation presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 72.9/100 (15%)Federal Agricultural Mortgage Corporation trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 42/100 (25%)Federal Agricultural Mortgage Corporation possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for AGM.
Score Composition
Financial Data
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How is the AGM UQS Score Calculated?
The UQS (Unified Quality Score) for Federal Agricultural Mortgage Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Federal Agricultural Mortgage Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Federal Agricultural Mortgage Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.