AGNC Investment Corp.

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

AGNC Investment Corp. trades at $25.2, between stages. That is +1.6% against its own 200-day average. It sits at 99% of a 52-week range of $24 to $25. On relative strength it is currently behind the S&P 500 on a trailing-13-week view (20 weeks and counting).

Today the stock is between stages. At $25.2 it trades +1.6% versus its 200-day average and sits at 99% of its 52-week range ($24–$25).

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved +2% while the S&P 500 moved +23% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (20 weeks and counting; last ahead the week of 2026-04-02) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.

AGNC Investment Corp. trades at 6.3× P/E, against too little history to rank. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 6.3× is against too little history to rank. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +58.1% against a +0.0% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: Turning around Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

AGNC Investment Corp. reads as turning around on its fundamental arc. Turning around — profit growth swung from −27.0% at the trough to +212.8%, a 3-quarter improving streak, ROE lifting at 13.5%. The read is built from 8 quarters across 3 curves, on partial evidence.

Why it matters: growth inflections are where re-ratings start — the curves say a turn is forming, so the question becomes whether the next quarters confirm it.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

4-Factor Sector Score

No sector-relative score — AGNC Investment Corp. is not among the largest members shown in this industry comparison for REIT - Mortgage.

The score is a rank WITHIN a peer set: every metric is scored by percentile against the other members. Without the peer set there is no score to state, so none is invented here.

Revenue Revenue is the top line: everything the company billed its customers in the period.

AGNC Investment Corp. reported $−0.1 B of revenue in the Mar 26 quarter, −237.5% year on year. Over 4 years it has compounded at 21.0% a year. The last full year, FY25, came in at $1.8 B. The last four reported quarters add to $1.6 B.

FY25 revenue came in at $1.8 B (+85.6% on the year), capping 4 years at 21.0% compound. The latest quarter (Mar 26) printed $−0.1 B, −237.5% year on year.

Pace check: the last four quarters averaged +147.9% growth against the decade's 21.0% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +172.9% over the last 4 quarters against +37.6%/yr over the last 8 — accelerating; TTM profit +212.8% vs +40.0%/yr — accelerating.

Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

A clean operating margin is not in our numbers for AGNC Investment Corp. — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.

This company's accounts do not report the operating-profit line this section reads — common for lenders and holding companies classified outside the financial bucket. The revenue and net-profit sections are the cleaner reads for AGNC Investment Corp..

Why: the numbers show the operating margin move clearly, but the cost lines behind it sit below what we hold — so we state the move without inventing its driver.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

AGNC Investment Corp. posted a net loss of $0.1 B in the Mar 26 quarter. Full-year FY25 profit was $1.7 B. The 4-year compound rate is 22.2%. That loss is 136.4% of the quarter's revenue. The same quarter a year earlier earned $0.1 B. 4 of the last 12 reported quarters were loss-making.

Mar 26 profit was $−0.1 B, −400.0% year on year. On the full year, FY25 printed $1.7 B (+94.2%), and the 4-year compound rate is 22.2%.

Pace comparison, last four quarters: profit +141.0% vs revenue +147.9%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 23% of AGNC Investment Corp.'s reported profit arrived as operating cash — a gap worth watching. In FY25 that was $0.7 B of operating cash against $1.7 B of profit. Cash resolution here is annual, because quarterly cash statements are not published.

FY25: operating cash of $0.7 B against reported profit of $1.7 B. Across the last 3 fiscal years the conversion rate is 23% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

AGNC Investment Corp. does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Nothing is estimated in place of the missing day-counts, so no cash-cycle chart is drawn.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.

AGNC Investment Corp. earns a ROE of 14% in FY25. That is up from a trough of −15% in FY22. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 92.8% net margin on 0.02× asset turns.

FY25 ROE is 14%, recovered from a FY22 trough of −15% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY25): 92.8% net margin × 0.02× asset turns × 9.29× balance-sheet leverage ≈ 17.2% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

Dividend

AGNC Investment Corp. pays no dividend. Across the last 12 reported quarters it has declared no dividend per share, so there is no payout history to chart and no yield to quote. Companies at this stage typically reinvest earnings rather than distribute them, which makes the cash-flow and reinvestment sections the place that cash shows up.

AGNC Investment Corp. does not currently pay a dividend. Across the last 12 reported quarters the company has declared no dividend per share, so there is no payout history to chart and no yield to quote. Companies at this stage typically reinvest earnings instead of distributing them.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Debt-to-equity is 7.17 at the latest reading — carrying real leverage; a full borrowings history is not in our numbers.

We hold only the latest reading here: a debt-to-equity of 7.17 — a level of leverage that amplifies both the returns above and the risk. A year-by-year borrowings ladder is not in our numbers for this stock, so we say that rather than draw a chart we cannot support.

Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.

0.0% of AGNC Investment Corp.'s tradable float is currently sold short — the crowd is not positioned against this stock. At typical trading volumes those positions would take about 0.6 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.

The latest reading: 0.0% of the float is sold short, and at typical trading volumes it would take about 0.6 days to buy those positions back. The crowd is not positioned against this stock. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.

Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

AGNC Investment Corp.: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Frequently asked questions