Using the industry peer median P/E Multiples multiple (trailing + forward), Federal Agricultural Mortgage Corporation (AGM) has a fair value of $261.74 based on 8 comparable companies in the Financial - Credit Services industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Federal Agricultural Mortgage CorporationAGM | 1,988 | 10.9x | 10.9x |
| Nicolet Bankshares, Inc. | 2,312 | 15.0x | 20.8x |
| Northwest Bancshares, Inc. | 2,032 | 15.1x | 17.3x |
| OFG Bancorp | 1,981 | 10.2x | 11.3x |
| LendingClub Corporation | 1,918 | 14.5x | 36.1x |
| Horace Mann Educators Corporation | 1,797 | 11.4x | 22.6x |
| Tri-Continental Corporation | 1,786 | 7.2x | — |
| City Holding Company | 1,736 | 13.8x | 15.8x |
| Morgan Stanley Direct Lending Fund | 1,320 | 11.1x | 6.1x |
| Industry Median | 12.6x | 17.3x | |
| (*) Profit after tax | 207 | 182 | |
| Equity Value | 2,610 | 3,139 | |
| (/) Outstanding shares | 11 | 11 | |
| Fair Price | $238 | $286 | |
Using the PEG framework with historical EPS growth of 17.3% plus 4.5% dividend yield, the company has a fair value of $287.58 based on TTM EPS (FY2025) of $16.62. The current PEG ratio is 0.63.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
PEG works well for steady growers with predictable earnings.
| EPS Growth RateHistorical | 12.8% |
| Dividend Yield | +4.5% |
| Adjusted Growth (clamped 8–25%) | 17.3% |
| Fair P/E | 17.3x |
| TTM EPS (FY2025) | $16.62 |
| Fair Value | $287.58 |
No analyst estimates available.
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2021 | $136.1M | $10.27 | — |
| FY2022 | $178.1M | $13.87 | +35.1% |
| FY2023 | $200.0M | $15.80 | +13.9% |
| FY2024 | $207.2M | $16.44 | +4.1% |
| FY2025 | $207.4M | $16.62 | +1.1% |
4Y Historical EPS CAGR: 12.8%
Using the Two-Stage Dividend Discount Model with a Cost of Equity of 26.8% and projected dividend growth of 9.4%, the fair value is $43.08 per share. The DDM range is $37.13 – $50.49 based on sensitivity analysis across Cost of Equity and growth rate assumptions.
| Year | DPS | Payout Ratio | YoY Growth |
|---|---|---|---|
| 2025 | $8.11 | 42.9% | +3.4% |
| 2024 | $7.84 | 41.5% | +14.6% |
| 2023 | $6.84 | 37.4% | +9.2% |
| 2022 | $6.26 | 38.3% | +10.8% |
| 2021 | $5.65 | 45.1% | — |
| Year | Projected DPS | Growth | Discount Factor | Present Value |
|---|---|---|---|---|
| 2026 | $8.87 | 9.4% | 0.7889 | $7.00 |
| 2027 | $9.71 | 9.4% | 0.6224 | $6.04 |
| 2028 | $10.62 | 9.4% | 0.4910 | $5.22 |
| 2029 | $11.63 | 9.4% | 0.3874 | $4.50 |
| 2030 | $12.72 | 9.4% | 0.3056 | $3.89 |
| Terminal Value | $13.04 DPS | 2.5% | $16.43 |
Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.
| Ke \ Growth | 7.4% | 8.4% | 9.4% | 10.4% | 11.4% |
|---|---|---|---|---|---|
| 24.8% | $44 | $46 | $47 | $49 | $50 |
| 25.8% | $42 | $44 | $45 | $47 | $48 |
| 26.8% | $40 | $42 | $43 | $45 | $46 |
| 27.8% | $39 | $40 | $41 | $43 | $44 |
| 28.8% | $37 | $38 | $40 | $41 | $42 |
Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.