AGNC Investment Corp. Depositary Shares rep 6.875% Series D Fixed-to-Floating Cumulative Redeemable Preferred Stock (AGNCM)

FairStock Score: 60/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

AGNC is a mortgage REIT that invests in agency residential mortgage pass-through securities and CMOs. The government guarantee reduces credit risk, but this is still a leveraged spread business: the data show debt-to-equity of 7.17, so profits depend on funding costs and hedges more than on underwriting skill. There is no wide moat; scale helps, but capital is fungible. Earnings are volatile. In fiscal Q2 2026, the quarter ended 2026-06-30, net income was $654.0M and diluted EPS was $0.52. In fiscal Q1 2026, the quarter ended 2026-03-31, the company lost $148.0M, or $0.17 per diluted share. FY2025 net income was $1.7B and diluted EPS $1.47, versus FY2024 $863.0M/$0.93 and FY2023 $155.0M/$0.05. FairStock calculates ROE of 19.80%, ROCE of 2.02%, P/B of 2.72, a negative P/E of -13.26, a Piotroski F-Score of 4/9, and an overall score of 60/100. Its Lynch category is TURNAROUND, because the company returned to profit after a loss within the last three years. For the 6.875% Series D cumulative preferred, the key is whether the leveraged book covers the dividend; I lack preferred coverage, CET1, NIM, combined ratio, tangible book, repo funding and hedge details. At $24.67 on 2026-10-13, inside a $23.63-$25.54 range, it looks closer to fair than bargain. I'd wait for clearer dividend coverage.

In plain English: AGNC invests in U.S. home mortgage securities that are government-backed. Its earnings have swung between losses and profits, and it relies heavily on borrowed money. The Series D preferred shares pay a fixed 6.875% coupon and later a floating rate; at $24.67 they sit near the top of their 52-week range, so the price looks close to fair rather than clearly cheap or expensive based on what is given.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer