WallStSmart

Agree Realty Corporation (ADC)vsAlexander & Baldwin Holdings Inc (ALEX)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Agree Realty Corporation generates 234% more annual revenue ($718.40M vs $214.96M). ALEX leads profitability with a 30.1% profit margin vs 28.4%. ADC appears more attractively valued with a PEG of 0.13. ADC earns a higher WallStSmart Score of 68/100 (B-).

ADC

Strong Buy

68

out of 100

Grade: B-

Growth: 7.3Profit: 7.0Value: 7.3Quality: 3.8
Piotroski: 2/9Altman Z: 1.25

ALEX

Buy

51

out of 100

Grade: C-

Growth: 2.0Profit: 7.0Value: 4.7Quality: 5.0
Piotroski: 4/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCSignificantly Overvalued (-48.5%)

Margin of Safety

-48.5%

Fair Value

$51.68

Current Price

$74.22

$22.54 premium

UndervaluedFair: $51.68Overvalued
ALEXSignificantly Overvalued (-243.8%)

Margin of Safety

-243.8%

Fair Value

$6.05

Current Price

$20.84

$14.79 premium

UndervaluedFair: $6.05Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ADC5 strengths · Avg: 9.4/10
PEG RatioValuation
0.1310/10

Growing faster than its price suggests

Price/BookValuation
1.5x10/10

Reasonable price relative to book value

Operating MarginProfitability
48.3%10/10

Strong operational efficiency at 48.3%

Profit MarginProfitability
28.4%9/10

Keeps 28 of every $100 in revenue as profit

Revenue GrowthGrowth
18.5%8/10

18.5% revenue growth

ALEX3 strengths · Avg: 9.3/10
Profit MarginProfitability
30.1%10/10

Keeps 30 of every $100 in revenue as profit

Operating MarginProfitability
30.9%10/10

Strong operational efficiency at 30.9%

Price/BookValuation
1.5x8/10

Reasonable price relative to book value

Areas to Watch

ADC4 concerns · Avg: 2.5/10
Return on EquityProfitability
3.5%3/10

ROE of 3.5% — below average capital efficiency

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

P/E RatioValuation
42.5x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-1.47B2/10

Negative free cash flow — burning cash

ALEX4 concerns · Avg: 2.5/10
Market CapQuality
$1.52B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
6.5%3/10

ROE of 6.5% — below average capital efficiency

PEG RatioValuation
4.482/10

Expensive relative to growth rate

Revenue GrowthGrowth
-17.6%2/10

Revenue declined 17.6%

Comparative Analysis Report

WallStSmart Research

Bull Case : ADC

The strongest argument for ADC centers on PEG Ratio, Price/Book, Operating Margin. Profitability is solid with margins at 28.4% and operating margin at 48.3%. Revenue growth of 18.5% demonstrates continued momentum.

Bull Case : ALEX

The strongest argument for ALEX centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 30.1% and operating margin at 30.9%.

Bear Case : ADC

The primary concerns for ADC are Return on Equity, Piotroski F-Score, P/E Ratio. A P/E of 42.5x leaves little room for execution misses.

Bear Case : ALEX

The primary concerns for ALEX are Market Cap, Return on Equity, PEG Ratio.

Key Dynamics to Monitor

ADC profiles as a growth stock while ALEX is a declining play — different risk/reward profiles.

ALEX carries more volatility with a beta of 0.95 — expect wider price swings.

ADC is growing revenue faster at 18.5% — sustainability is the question.

ALEX generates stronger free cash flow (-21M), providing more financial flexibility.

Bottom Line

ADC scores higher overall (68/100 vs 51/100), backed by strong 28.4% margins and 18.5% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Agree Realty Corporation

REAL ESTATE · REIT - RETAIL · USA

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of net leased properties to industry leading retail tenants.

Alexander & Baldwin Holdings Inc

REAL ESTATE · REIT - RETAIL · USA

Alexander & Baldwin, Inc. (A&B) is Hawaii's leading commercial real estate company and the largest neighborhood grocery shopping center owner in the state.

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