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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and Bandwidth Inc. (BAND). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $107.5M, roughly 1.9× FEDERAL AGRICULTURAL MORTGAGE CORP). On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 6.1%). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 7.1%).
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
AGM vs BAND — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $208.8M |
| Net Profit | — | $4.0M |
| Gross Margin | — | 37.3% |
| Operating Margin | 56.3% | 60.5% |
| Net Margin | — | 1.9% |
| Revenue YoY | 6.1% | 20.1% |
| Net Profit YoY | — | 200.0% |
| EPS (diluted) | $3.69 | $-0.08 |
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 | — | $208.8M | ||
| Q4 25 | $107.5M | $207.7M | ||
| Q3 25 | $104.0M | $191.9M | ||
| Q2 25 | $102.6M | $180.0M | ||
| Q1 25 | $94.3M | $174.2M | ||
| Q4 24 | $101.3M | $210.0M | ||
| Q3 24 | $90.3M | $193.9M | ||
| Q2 24 | $89.9M | $173.6M |
| Q1 26 | — | $4.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | $-1.2M | ||
| Q2 25 | $54.8M | $-4.9M | ||
| Q1 25 | $49.7M | $-3.7M | ||
| Q4 24 | $56.5M | — | ||
| Q3 24 | $49.8M | $413.0K | ||
| Q2 24 | $47.1M | $4.1M |
| Q1 26 | — | 37.3% | ||
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 38.5% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 41.0% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 37.3% |
| Q1 26 | — | 60.5% | ||
| Q4 25 | 56.3% | -1.9% | ||
| Q3 25 | 64.1% | -1.0% | ||
| Q2 25 | 63.8% | -2.1% | ||
| Q1 25 | 66.9% | -2.7% | ||
| Q4 24 | 67.5% | -1.3% | ||
| Q3 24 | 69.0% | -0.5% | ||
| Q2 24 | 65.9% | -3.5% |
| Q1 26 | — | 1.9% | ||
| Q4 25 | — | — | ||
| Q3 25 | 52.9% | -0.6% | ||
| Q2 25 | 53.4% | -2.7% | ||
| Q1 25 | 52.6% | -2.1% | ||
| Q4 24 | 55.8% | — | ||
| Q3 24 | 55.2% | 0.2% | ||
| Q2 24 | 52.4% | 2.3% |
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $3.69 | $-0.10 | ||
| Q3 25 | $4.44 | $-0.04 | ||
| Q2 25 | $4.48 | $-0.16 | ||
| Q1 25 | $4.01 | $-0.13 | ||
| Q4 24 | $4.62 | $0.27 | ||
| Q3 24 | $3.86 | $0.01 | ||
| Q2 24 | $3.68 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $47.3M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $405.7M |
| Total Assets | $35.4B | $984.2M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $47.3M | ||
| Q4 25 | — | $111.3M | ||
| Q3 25 | — | $80.4M | ||
| Q2 25 | — | $68.1M | ||
| Q1 25 | — | $41.7M | ||
| Q4 24 | — | $83.8M | ||
| Q3 24 | $842.1M | $79.9M | ||
| Q2 24 | $923.0M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | $30.8B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $28.9B | — | ||
| Q1 25 | $28.0B | — | ||
| Q4 24 | $27.5B | — | ||
| Q3 24 | $27.2B | — | ||
| Q2 24 | $26.8B | — |
| Q1 26 | — | $405.7M | ||
| Q4 25 | $1.7B | $400.0M | ||
| Q3 25 | $1.7B | $392.7M | ||
| Q2 25 | $1.5B | $384.5M | ||
| Q1 25 | $1.5B | $345.4M | ||
| Q4 24 | $1.5B | $312.5M | ||
| Q3 24 | $1.5B | $336.6M | ||
| Q2 24 | $1.5B | $307.4M |
| Q1 26 | — | $984.2M | ||
| Q4 25 | $35.4B | $1.1B | ||
| Q3 25 | $33.4B | $1.0B | ||
| Q2 25 | $33.0B | $1.0B | ||
| Q1 25 | $31.8B | $964.4M | ||
| Q4 24 | $31.3B | $989.2M | ||
| Q3 24 | $30.6B | $1.0B | ||
| Q2 24 | $30.2B | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | 17.93× | — | ||
| Q3 25 | 17.31× | — | ||
| Q2 25 | 18.70× | — | ||
| Q1 25 | 18.39× | — | ||
| Q4 24 | 18.48× | — | ||
| Q3 24 | 18.60× | — | ||
| Q2 24 | 17.87× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.1M | — |
| Free Cash FlowOCF − Capex | — | $-1.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $80.1M | $38.6M | ||
| Q3 25 | $74.2M | $22.2M | ||
| Q2 25 | $-47.7M | $31.7M | ||
| Q1 25 | $-49.8M | $-3.1M | ||
| Q4 24 | $612.6M | $36.5M | ||
| Q3 24 | $-44.4M | $20.5M | ||
| Q2 24 | $56.1M | $24.4M |
| Q1 26 | — | $-1.0M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $607.4M | — | ||
| Q3 24 | $-44.4M | — | ||
| Q2 24 | $52.6M | — |
| Q1 26 | — | -0.5% | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 599.8% | — | ||
| Q3 24 | -49.2% | — | ||
| Q2 24 | 58.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 4.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | -0.87× | — | ||
| Q1 25 | -1.00× | — | ||
| Q4 24 | 10.84× | — | ||
| Q3 24 | -0.89× | 49.55× | ||
| Q2 24 | 1.19× | 6.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
