AGNC Investment Corp. Depositary Shares Each Representing a 1/1000th Interest in a Share of 6.125% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (AGNCP)

FairStock Score: 68/100 — STEADY

Key Financials

AI Analysis

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

I approach AGNCP first as a preferred claim on AGNC Investment Corp., not as a common-stock bargain. The issuer owns government-sponsored-enterprise- and agency-guaranteed residential mortgage securities, so credit risk is lower than raw mortgage lending but interest-rate, prepayment and leverage risk remain high. It is a spread business with no durable moat I can identify; 54 employees and a $29.0B market cap show how capital-intensive and rate-sensitive the model is. Filed results are improving but lumpy: in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $654.0M and diluted EPS $0.52, after a fiscal Q1 2026 net loss of $148.0M and diluted EPS -$0.17. For FY2025, net income was $1.7B and diluted EPS $1.47, versus $863.0M and $0.93 in FY2024 and $155.0M and $0.05 in FY2023. FairStock labels it a TURNAROUND, returned to profit after a loss within the last three years, and that fits the swing, but a Piotroski score of 4/9 and D/E of 7.17 argue for caution. At the 2026-10-26 close, FairStock calculated P/B of 2.70 and P/E of -13.17; ROE was 19.80% and ROCE 2.02%, all of which need mortgage-REIT context. For the preferred, the 6.125% coupon and $24.49 price near the 52-week high of $25.54 leave little cushion. CET1, NIM and combined ratio are not in the data, so bank-style capital and spread checks are unavailable. I would want a wider discount to par and evidence that cumulative preferred dividends are covered through a full rate cycle.

In plain English: AGNC Investment Corp. provides private capital to the U.S. housing market by owning home-loan investments that are mostly guaranteed by government-related agencies. The preferred shares pay a 6.125% dividend, but the company uses a lot of borrowed money, so results and dividend safety depend on interest rates and mortgage markets. At $24.49, the preferred shares sit near the top of their recent range, so the price looks full rather than cheap against the stated dividend and the company's uneven earnings.

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Data as of 2026-10-26 close · note generated 2026-10-28 · 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