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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR). Click either name above to swap in a different company.

FEDERAL AGRICULTURAL MORTGAGE CORP is the larger business by last-quarter revenue ($107.5M vs $66.7M, roughly 1.6× INNOVATIVE INDUSTRIAL PROPERTIES INC). On growth, FEDERAL AGRICULTURAL MORTGAGE CORP posted the faster year-over-year revenue change (6.1% vs -13.1%). Over the past eight quarters, FEDERAL AGRICULTURAL MORTGAGE CORP's revenue compounded faster (7.1% CAGR vs -6.0%).

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.

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

AGM vs IIPR — Head-to-Head

Bigger by revenue
AGM
AGM
1.6× larger
AGM
$107.5M
$66.7M
IIPR
Growing faster (revenue YoY)
AGM
AGM
+19.3% gap
AGM
6.1%
-13.1%
IIPR
Faster 2-yr revenue CAGR
AGM
AGM
Annualised
AGM
7.1%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AGM
AGM
IIPR
IIPR
Revenue
$107.5M
$66.7M
Net Profit
$31.8M
Gross Margin
Operating Margin
56.3%
47.8%
Net Margin
47.8%
Revenue YoY
6.1%
-13.1%
Net Profit YoY
-20.4%
EPS (diluted)
$3.69
$1.07

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.

Revenue
AGM
AGM
IIPR
IIPR
Q4 25
$107.5M
$66.7M
Q3 25
$104.0M
$64.7M
Q2 25
$102.6M
$62.9M
Q1 25
$94.3M
$71.7M
Q4 24
$101.3M
$76.7M
Q3 24
$90.3M
$76.5M
Q2 24
$89.9M
$79.8M
Q1 24
$93.7M
$75.5M
Net Profit
AGM
AGM
IIPR
IIPR
Q4 25
$31.8M
Q3 25
$55.0M
$29.3M
Q2 25
$54.8M
$26.0M
Q1 25
$49.7M
$31.1M
Q4 24
$56.5M
$40.0M
Q3 24
$49.8M
$40.2M
Q2 24
$47.1M
$42.0M
Q1 24
$53.7M
$39.4M
Operating Margin
AGM
AGM
IIPR
IIPR
Q4 25
56.3%
47.8%
Q3 25
64.1%
45.5%
Q2 25
63.8%
45.9%
Q1 25
66.9%
47.4%
Q4 24
67.5%
54.7%
Q3 24
69.0%
54.8%
Q2 24
65.9%
53.1%
Q1 24
72.8%
55.7%
Net Margin
AGM
AGM
IIPR
IIPR
Q4 25
47.8%
Q3 25
52.9%
45.3%
Q2 25
53.4%
41.4%
Q1 25
52.6%
43.3%
Q4 24
55.8%
52.2%
Q3 24
55.2%
52.6%
Q2 24
52.4%
52.6%
Q1 24
57.4%
52.3%
EPS (diluted)
AGM
AGM
IIPR
IIPR
Q4 25
$3.69
$1.07
Q3 25
$4.44
$0.97
Q2 25
$4.48
$0.86
Q1 25
$4.01
$1.03
Q4 24
$4.62
$1.35
Q3 24
$3.86
$1.37
Q2 24
$3.68
$1.44
Q1 24
$4.28
$1.36

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AGM
AGM
IIPR
IIPR
Cash + ST InvestmentsLiquidity on hand
$47.6M
Total DebtLower is stronger
$30.8B
$393.7M
Stockholders' EquityBook value
$1.7B
$1.8B
Total Assets
$35.4B
$2.4B
Debt / EquityLower = less leverage
17.93×
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AGM
AGM
IIPR
IIPR
Q4 25
$47.6M
Q3 25
$41.9M
Q2 25
$104.9M
Q1 25
$133.3M
Q4 24
$151.2M
Q3 24
$842.1M
$172.4M
Q2 24
$923.0M
$160.9M
Q1 24
$745.1M
$173.5M
Total Debt
AGM
AGM
IIPR
IIPR
Q4 25
$30.8B
$393.7M
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 24
$26.8B
Stockholders' Equity
AGM
AGM
IIPR
IIPR
Q4 25
$1.7B
$1.8B
Q3 25
$1.7B
$1.9B
Q2 25
$1.5B
$1.9B
Q1 25
$1.5B
$1.9B
Q4 24
$1.5B
$1.9B
Q3 24
$1.5B
$1.9B
Q2 24
$1.5B
$1.9B
Q1 24
$1.5B
$2.0B
Total Assets
AGM
AGM
IIPR
IIPR
Q4 25
$35.4B
$2.4B
Q3 25
$33.4B
$2.3B
Q2 25
$33.0B
$2.3B
Q1 25
$31.8B
$2.4B
Q4 24
$31.3B
$2.4B
Q3 24
$30.6B
$2.4B
Q2 24
$30.2B
$2.4B
Q1 24
$29.8B
$2.4B
Debt / Equity
AGM
AGM
IIPR
IIPR
Q4 25
17.93×
0.21×
Q3 25
17.31×
Q2 25
18.70×
Q1 25
18.39×
Q4 24
18.48×
Q3 24
18.60×
Q2 24
17.87×
Q1 24
18.11×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AGM
AGM
IIPR
IIPR
Operating Cash FlowLast quarter
$80.1M
$198.2M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
6.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AGM
AGM
IIPR
IIPR
Q4 25
$80.1M
$198.2M
Q3 25
$74.2M
$45.6M
Q2 25
$-47.7M
$48.4M
Q1 25
$-49.8M
$54.2M
Q4 24
$612.6M
$258.4M
Q3 24
$-44.4M
$64.9M
Q2 24
$56.1M
$64.2M
Q1 24
$233.3M
$71.6M
Free Cash Flow
AGM
AGM
IIPR
IIPR
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$607.4M
Q3 24
$-44.4M
Q2 24
$52.6M
Q1 24
$231.7M
FCF Margin
AGM
AGM
IIPR
IIPR
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
599.8%
Q3 24
-49.2%
Q2 24
58.5%
Q1 24
247.3%
Capex Intensity
AGM
AGM
IIPR
IIPR
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 24
1.7%
Cash Conversion
AGM
AGM
IIPR
IIPR
Q4 25
6.22×
Q3 25
1.35×
1.56×
Q2 25
-0.87×
1.86×
Q1 25
-1.00×
1.75×
Q4 24
10.84×
6.46×
Q3 24
-0.89×
1.61×
Q2 24
1.19×
1.53×
Q1 24
4.34×
1.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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