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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and OneSpan Inc. (OSPN). 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 $65.9M, roughly 1.6× OneSpan Inc.). On growth, FEDERAL AGRICULTURAL MORTGAGE CORP posted the faster year-over-year revenue change (6.1% vs 4.1%). Over the past eight quarters, FEDERAL AGRICULTURAL MORTGAGE CORP's revenue compounded faster (7.1% CAGR vs 4.0%).
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.
OneSpan Inc. is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.
AGM vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $65.9M |
| Net Profit | — | $11.6M |
| Gross Margin | — | 73.6% |
| Operating Margin | 56.3% | 22.5% |
| Net Margin | — | 17.5% |
| Revenue YoY | 6.1% | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | $3.69 | $0.39 |
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 | — | $65.9M | ||
| Q4 25 | $107.5M | $62.9M | ||
| Q3 25 | $104.0M | $57.1M | ||
| Q2 25 | $102.6M | $59.8M | ||
| Q1 25 | $94.3M | $63.4M | ||
| Q4 24 | $101.3M | $61.2M | ||
| Q3 24 | $90.3M | $56.2M | ||
| Q2 24 | $89.9M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | — | $43.5M | ||
| Q3 25 | $55.0M | $6.5M | ||
| Q2 25 | $54.8M | $8.3M | ||
| Q1 25 | $49.7M | $14.5M | ||
| Q4 24 | $56.5M | $28.8M | ||
| Q3 24 | $49.8M | $8.3M | ||
| Q2 24 | $47.1M | $6.6M |
| Q1 26 | — | 73.6% | ||
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 74.3% | ||
| Q4 24 | — | 74.0% | ||
| Q3 24 | — | 73.9% | ||
| Q2 24 | — | 66.2% |
| Q1 26 | — | 22.5% | ||
| Q4 25 | 56.3% | 19.9% | ||
| Q3 25 | 64.1% | 14.4% | ||
| Q2 25 | 63.8% | 17.6% | ||
| Q1 25 | 66.9% | 27.1% | ||
| Q4 24 | 67.5% | 19.3% | ||
| Q3 24 | 69.0% | 20.0% | ||
| Q2 24 | 65.9% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | — | 69.2% | ||
| Q3 25 | 52.9% | 11.4% | ||
| Q2 25 | 53.4% | 13.9% | ||
| Q1 25 | 52.6% | 22.9% | ||
| Q4 24 | 55.8% | 47.1% | ||
| Q3 24 | 55.2% | 14.7% | ||
| Q2 24 | 52.4% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $3.69 | $1.13 | ||
| Q3 25 | $4.44 | $0.17 | ||
| Q2 25 | $4.48 | $0.21 | ||
| Q1 25 | $4.01 | $0.37 | ||
| Q4 24 | $4.62 | $0.73 | ||
| Q3 24 | $3.86 | $0.21 | ||
| 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 | — | $49.8M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $272.0M |
| Total Assets | $35.4B | $383.1M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | — | $70.5M | ||
| Q3 25 | — | $85.6M | ||
| Q2 25 | — | $92.9M | ||
| Q1 25 | — | $105.2M | ||
| Q4 24 | — | $83.2M | ||
| Q3 24 | $842.1M | $77.5M | ||
| Q2 24 | $923.0M | $63.8M |
| 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 | — | $272.0M | ||
| Q4 25 | $1.7B | $271.8M | ||
| Q3 25 | $1.7B | $238.3M | ||
| Q2 25 | $1.5B | $242.5M | ||
| Q1 25 | $1.5B | $231.1M | ||
| Q4 24 | $1.5B | $212.5M | ||
| Q3 24 | $1.5B | $194.6M | ||
| Q2 24 | $1.5B | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $35.4B | $397.7M | ||
| Q3 25 | $33.4B | $343.5M | ||
| Q2 25 | $33.0B | $357.1M | ||
| Q1 25 | $31.8B | $333.8M | ||
| Q4 24 | $31.3B | $338.7M | ||
| Q3 24 | $30.6B | $289.3M | ||
| Q2 24 | $30.2B | $286.9M |
| 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 | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $80.1M | $12.6M | ||
| Q3 25 | $74.2M | $11.3M | ||
| Q2 25 | $-47.7M | $6.2M | ||
| Q1 25 | $-49.8M | $29.4M | ||
| Q4 24 | $612.6M | $12.4M | ||
| Q3 24 | $-44.4M | $14.0M | ||
| Q2 24 | $56.1M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.6M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | — | $4.4M | ||
| Q1 25 | — | $27.7M | ||
| Q4 24 | $607.4M | $10.5M | ||
| Q3 24 | $-44.4M | $12.0M | ||
| Q2 24 | $52.6M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | 599.8% | 17.1% | ||
| Q3 24 | -49.2% | 21.4% | ||
| Q2 24 | 58.5% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 4.7% | ||
| Q3 25 | 0.0% | 4.4% | ||
| Q2 25 | 0.0% | 3.1% | ||
| Q1 25 | 0.0% | 2.6% | ||
| Q4 24 | 5.2% | 3.2% | ||
| Q3 24 | 0.1% | 3.5% | ||
| Q2 24 | 4.0% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | 1.35× | 1.74× | ||
| Q2 25 | -0.87× | 0.75× | ||
| Q1 25 | -1.00× | 2.02× | ||
| Q4 24 | 10.84× | 0.43× | ||
| Q3 24 | -0.89× | 1.69× | ||
| Q2 24 | 1.19× | 0.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGM
Segment breakdown not available.
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
