AGNC Investment Corp. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AGNC Investment Corp. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
General and administrative	34	31	55	36	37	34	33	34	36	40
Operating expenses	105	73	100	83	93	88	74	96	110	127
Interest expense	394	524	1,173	2,149	674	75	625	2,287
Other non-operating income			-547	78	-1,018	-449	-2,081	497	955	1,122
Net income	623	771	129	688	-266	749	-1,190	155	863	1,670
EPS, basic	1.79	2.04	0.21	1.16	-0.66	1.23	-2.41	0.05	0.93	1.48
EPS, diluted	1.79	2.04	0.21	1.16	-0.66	1.22	-2.41	0.05	0.93	1.47
Shares, basic (weighted)	332	359	441	541	552	528	537	618	783	1,020
Shares, diluted (weighted)	332	359	441	541	552	530	537	620	786	1,024
Dividend per share	2.30	2.16	2.16	2.00	1.56	1.44	1.44	1.44	1.44	1.44

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,208	1,046	921	831	1,017	998	1,018	518	505	450
Goodwill	526	526	526	526	526	526	526	526	526	526
Intangible assets	28	25
Total assets	56,880	70,376	109,241	113,082	81,817	68,149	51,748	71,596	88,015	115,077
Total liabilities	49,524	61,622	99,335	102,041	70,738	57,858	43,878	63,339	78,253	102,684
Paid-in capital	9,932	11,173	13,793	13,893	13,972	13,710	14,186	15,281	17,264	19,261
Retained earnings	-2,518	-2,562	-3,433	-3,886	-5,106	-5,214	-7,284	-8,148	-8,554	-8,524
Other comprehensive income	-397	-345	-943	97	719	301	-672	-517	-591	-323
Shareholders' equity	7,356	8,754	9,906	11,041	11,079	10,291	7,870	8,257	9,762	12,393
Total equity	7,356	8,754	9,906	11,041	11,079	10,291	7,870	8,257	9,762	12,393
Total liabilities and equity	56,880	70,376	109,241	113,082	81,817	68,149	51,748	71,596	88,015	115,077
Shares outstanding	331	391	536	541	540	522	575	694	897	1,108

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	623	771	129	688	-266	749	-1,190	155	863	1,670
Stock-based compensation	1	4	6	13	18	19	2	11	18	26
Change in payables	46	81	121	-9	-224	-17	69	904	-701	53
Cash from operations	1,352	1,260	1,113	1,180	1,747	1,540	1,013	-118	86	653
Acquisitions	-555	0	0
Purchases of investments	0	-28
Sales and maturities of investments	39	0		723	2,391	5,008	744	461	0	370
Cash from investing	3,201	-11,061	-27,936	-14,218	36,525	3,836	11,188	-14,672	-11,169	-25,864
Stock issued	0	1,238	2,611	190	439	0	526	1,085	1,967	1,973
Share buybacks	-116	0	0	-103	-378	-281	-51	0	0
Dividends paid	-799	-795	-974	-1,139	-970	-860	-869	-1,005	-1,241	-1,601
Cash from financing	-5,662	9,882	26,980	12,800	-37,230	-6,175	-11,392	14,227	11,083	25,182
Net change in cash	98	-162	157	-238	1,042	-799	809	-563	0	-29
Interest paid	332	474	1,090	2,097	866	89	557	2,246	2,899	2,793
Income taxes paid	0	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $25.70 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	18.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.9%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	93.5%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	58.1%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	659.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-13.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-17.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-1.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	27.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	16.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	30.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	30.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	30.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	24.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	13.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	89.7%	Total liabilities / total assets.
Tangible book value	$12.54B	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.95	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$0.76	Cash from operations / diluted weighted shares.
Book value per share	$10.77	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$10.77	Tangible book value / shares outstanding.
Cash per share	$0.39	(Cash + short-term investments) / shares outstanding.
Payout ratio	77.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$30.47B	Share price x shares outstanding.
Enterprise value	$30.01B	Market cap + total debt - cash - short-term investments.
P/E	13.4x	Market cap / net income. Only when net income is positive.
P/B	2.43x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.43x	Market cap / tangible book value, when positive.
P/OCF	34.4x	Market cap / cash from operations, when positive.
Earnings yield	7.4%	Net income / market cap (the inverse of P/E).
Dividend yield	5.8%	Dividends paid over the period / market cap.
Shareholder yield	5.8%	(Dividends paid + share buybacks) / market cap.

Was AGNC Investment Corp. profitable in fiscal 2025?

Yes. Net income was $1.67B, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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