AGNC Investment Corp.

Listed Company

AGNCNCIK 0001423689NasdaqLarge AcceleratedReal Estate Investment TrustsFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$1.67B

Total Assets

$115.08B

Equity

$12.39B

Shares Out

1.11B

Op. Cash Flow

$653.00M

Business

AGNC Investment Corp. is a real estate investment trust that provides private capital to the U.S. housing market by investing primarily, on a leveraged basis, in Agency residential mortgage-backed securities. It offers investment exposure to Agency RMBS and CMOs, TBAs, credit risk transfer securities, non-Agency RMBS and CMBS, and related mortgage and real estate assets, and funds positions through repurchase agreements and TBA dollar roll transactions. The company is internally managed and operates a captive broker-dealer, Bethesda Securities, to support portfolio management, funding and hedging activities. It focuses on U.S. mortgage and real estate markets and distributes funding through bilateral and tri-party repo markets, FICC services and broker-dealer channels.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest Income, Operating	3,523	2,949	2,041	1,590	—
Interest Expense, Operating	2,848	2,931	2,287	625	—
Net interest income	675	18	−246	965	1,286
Dividends declared per common share	1.44	1.44	1.44	1.44	1.44
Net gain (loss) on sale of investment securities	−529	−188	−1,567	−2,916	−57
Unrealized gain (loss) on investment securities measured at fair value through net income, net	2,733	−885	1,678	−3,795	−1,502
(Loss) gain on derivative instruments and other securities, net	−1,082	2,028	386	4,630	1,110
Nonoperating Income (Expense)	1,122	955	497	−2,081	−449
Labor and Related Expense	87	74	62	41	54
General and administrative expenses	40	36	34	33	34
Total expenses	127	110	96	74	88
Net income	1,670	863	155	−1,190	749
Dividend on preferred stock	161	132	123	105	100
Net income available to common stockholders	1,509	731	32	−1,295	649
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, after Tax	268	−74	155	−973	−418
Comprehensive income	1,938	789	310	−2,163	331
Comprehensive income available to common stockholders	1,777	657	187	−2,268	231
Weighted average number of common shares outstanding - basic	1,020	783	618	537	528
Weighted average number of common shares outstanding - diluted	1,024	786	620	537	530
Earnings Per Share, Basic	1.48	0.93	0.05	−2.41	1.23
Net income per common share - diluted	1.47	0.93	0.05	−2.41	1.22

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-09-30	FY 2022 2022-12-31
Agency securities, at fair value (including pledged securities of $74,149 and $59,952, respectively)	81,003	65,367	53,673	—	39,346
Agency securities transferred to consolidated variable interest entities, at fair value (pledged securities)	85	97	121	—	144
Credit risk transfer securities, at fair value (including pledged securities of $558 and $590, respectively)	606	633	723	—	757
Non-Agency securities, at fair value, and other mortgage credit investments (including pledged securities of $13 and $206, respectively)	95	315	351	—	682
U.S. Treasury securities, at fair value (including pledged securities of $13,056 and $1,565, respectively)	13,477	1,575	1,540	—	353
Cash and cash equivalents	450	505	518	—	1,018
Restricted cash	1,292	1,266	1,253	—	1,316
Derivative assets, at fair value	169	205	185	—	617
Receivable for investment securities sold (including pledged securities of $149 and $0, respectively)	152	0	0	—	120
Receivable under reverse repurchase agreements	16,615	17,137	11,618	—	6,622
Goodwill and other intangible assets, net	526	526	526	—	526
Other assets	607	389	1,088	—	247
Total assets	115,077	88,015	71,596	—	51,748
Repurchase Agreements	85,300	60,800	50,400	—	36,300
Debt of consolidated variable interest entities, at fair value	56	64	80	—	95
Payable for investment securities purchased	193	74	210	—	302
Derivative liabilities, at fair value	6	94	362	—	99
Dividends payable	182	143	115	—	100
Other liabilities	509	404	1,252	—	486
Total liabilities	102,684	78,253	63,339	—	43,878
Preferred Stock - aggregate liquidation preference of $2,033 and $1,688, respectively	1,968	1,634	1,634	—	1,634
Common stock - $0.01 par value; 2,250 and 1,500 shares authorized, respectively; 1,107.6 and 897.4 shares issued and outstanding, respectively	11	9	7	—	6
Additional paid-in capital	19,261	17,264	15,281	—	14,186
Retained deficit	−8,524	−8,554	−8,148	—	−7,284
Accumulated other comprehensive loss	−323	−591	−517	—	−672
Total stockholders' equity	12,393	9,762	8,257	11,079	7,870
Total liabilities and stockholders' equity	115,077	88,015	71,596	—	51,748
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value	16,452	16,676	10,894	—	6,534

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	2,793	2,899	2,246	557	89
Amortization of premiums and discounts on mortgage-backed securities, net	177	123	201	13	369
Stock based compensation	26	18	11	2	19
Unrealized (gain) loss on investment securities measured at fair value through net income, net	−2,733	885	−1,678	3,795	1,502
(Gain) loss on derivative instruments and other securities, net	1,082	−2,028	−386	−4,630	−1,110
(Increase) decrease in other assets	−151	738	−892	38	−29
Increase (decrease) in other liabilities	53	−701	904	69	−17
Net cash provided by (used in) operating activities	653	86	−118	1,013	1,540
Purchases of Agency mortgage-backed securities	−45,583	−41,762	−32,216	−26,842	−45,345
Purchases of credit risk transfer and non-Agency securities and other mortgage credit investments	−69	−251	−364	−1,173	−2,031
Proceeds from sale of Agency mortgage-backed securities	24,756	22,825	13,608	25,978	34,595
Proceeds from sale of credit risk transfer and non-Agency securities	270	286	732	1,199	1,434
Principal collections on Agency mortgage-backed securities	7,480	5,832	4,327	6,525	15,042
Principal collections on credit risk transfer and non-Agency securities	31	121	68	209	84
Payments on U.S. Treasury securities	−52,439	−18,831	−30,535	−27,494	−22,055
Proceeds from Sale of U.S. Treasury securities	38,688	24,601	33,229	25,878	19,795
Net proceeds from (payments on) reverse repurchase agreements	1,407	−4,793	−4,510	4,001	1,272
Net proceeds from (payments on) derivative instruments	−405	803	989	2,907	1,045
Net cash used in investing activities	−25,864	−11,169	−14,672	11,188	3,836
Proceeds from repurchase arrangements	7,175,107	5,600,336	3,282,218	2,360,328	2,189,555
Payments on repurchase agreements	−7,150,619	−5,589,964	−3,268,054	−2,371,447	−2,194,540
Payments on debt of consolidated variable interest entities	−12	−15	−17	−24	−49
Net proceeds from common stock issuance	1,973	1,967	1,085	526	0
Cash dividends paid	−1,601	−1,241	−1,005	−869	−860
Net cash provided by financing activities	25,182	11,083	14,227	−11,392	−6,175
Net change in cash and cash equivalents	−29	0	−563	809	−799

Filings

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