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Side-by-side financial comparison of AGREE REALTY CORP (ADC) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $200.8M, roughly 2.1× AGREE REALTY CORP). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 31.0%, a 26.0% gap on every dollar of revenue. On growth, AGREE REALTY CORP posted the faster year-over-year revenue change (18.7% vs 6.3%). Over the past eight quarters, AGREE REALTY CORP's revenue compounded faster (14.7% CAGR vs 5.0%).
Duke Realty was a real estate investment trust (REIT) based in Indianapolis, Indiana, that invested in industrial properties. As of December 31, 2021, it owned or jointly controlled 548 primarily industrial properties containing 162.7 million rentable square feet. In October 2022, it was acquired by Prologis.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
ADC vs GLPI — Head-to-Head
Income Statement — Q1 2026 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $200.8M | $420.0M |
| Net Profit | $62.2M | $239.4M |
| Gross Margin | — | — |
| Operating Margin | 49.1% | 79.4% |
| Net Margin | 31.0% | 57.0% |
| Revenue YoY | 18.7% | 6.3% |
| Net Profit YoY | 32.0% | 40.5% |
| EPS (diluted) | $1.04 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $200.8M | $420.0M | ||
| Q4 25 | $190.5M | $407.0M | ||
| Q3 25 | $183.2M | $397.6M | ||
| Q2 25 | $175.5M | $394.9M | ||
| Q1 25 | $169.2M | $395.2M | ||
| Q4 24 | $160.7M | $389.6M | ||
| Q3 24 | $154.3M | $385.3M | ||
| Q2 24 | $152.6M | $380.6M |
| Q1 26 | $62.2M | $239.4M | ||
| Q4 25 | $56.0M | $267.3M | ||
| Q3 25 | $52.1M | $241.2M | ||
| Q2 25 | $49.2M | $151.4M | ||
| Q1 25 | $47.0M | $165.2M | ||
| Q4 24 | $45.2M | $217.2M | ||
| Q3 24 | $44.4M | $184.7M | ||
| Q2 24 | $54.7M | $208.3M |
| Q1 26 | 49.1% | 79.4% | ||
| Q4 25 | 48.5% | 89.3% | ||
| Q3 25 | 47.6% | 84.8% | ||
| Q2 25 | 46.7% | 61.3% | ||
| Q1 25 | 46.5% | 65.5% | ||
| Q4 24 | 46.9% | 79.1% | ||
| Q3 24 | 48.2% | 70.4% | ||
| Q2 24 | 53.7% | 77.1% |
| Q1 26 | 31.0% | 57.0% | ||
| Q4 25 | 29.4% | 65.7% | ||
| Q3 25 | 28.4% | 60.7% | ||
| Q2 25 | 28.0% | 38.4% | ||
| Q1 25 | 27.8% | 41.8% | ||
| Q4 24 | 28.1% | 55.8% | ||
| Q3 24 | 28.8% | 47.9% | ||
| Q2 24 | 35.9% | 54.7% |
| Q1 26 | $1.04 | — | ||
| Q4 25 | $0.47 | $0.96 | ||
| Q3 25 | $0.45 | $0.85 | ||
| Q2 25 | $0.43 | $0.54 | ||
| Q1 25 | $0.42 | $0.60 | ||
| Q4 24 | $0.41 | $0.79 | ||
| Q3 24 | $0.42 | $0.67 | ||
| Q2 24 | $0.52 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $25.1M | $274.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.2B | $5.0B |
| Total Assets | $10.2B | $13.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $25.1M | $274.5M | ||
| Q4 25 | $16.3M | — | ||
| Q3 25 | $13.7M | — | ||
| Q2 25 | $5.8M | — | ||
| Q1 25 | $7.9M | — | ||
| Q4 24 | $6.4M | $560.8M | ||
| Q3 24 | $13.2M | $554.1M | ||
| Q2 24 | $9.6M | $347.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | $6.2B | $5.0B | ||
| Q4 25 | $6.3B | $4.6B | ||
| Q3 25 | $5.9B | $4.6B | ||
| Q2 25 | $5.7B | $4.6B | ||
| Q1 25 | $5.6B | $4.2B | ||
| Q4 24 | $5.5B | $4.3B | ||
| Q3 24 | $5.3B | $4.3B | ||
| Q2 24 | $5.2B | $4.1B |
| Q1 26 | $10.2B | $13.8B | ||
| Q4 25 | $9.8B | $12.9B | ||
| Q3 25 | $9.5B | $12.8B | ||
| Q2 25 | $9.1B | $12.5B | ||
| Q1 25 | $8.8B | $12.1B | ||
| Q4 24 | $8.5B | $13.1B | ||
| Q3 24 | $8.2B | $12.7B | ||
| Q2 24 | $8.0B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
