WallStSmart

Agree Realty Corporation (ADC)vsFour Corners Property Trust Inc (FCPT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Agree Realty Corporation generates 144% more annual revenue ($718.40M vs $294.13M). FCPT leads profitability with a 38.2% profit margin vs 28.4%. FCPT trades at a lower P/E of 22.3x. 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

FCPT

Buy

56

out of 100

Grade: C

Growth: 5.3Profit: 7.5Value: 5.7Quality: 5.0
Piotroski: 4/9Altman Z: 0.98
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCSignificantly Overvalued (-48.5%)

Margin of Safety

-48.5%

Fair Value

$51.68

Current Price

$75.24

$23.56 premium

UndervaluedFair: $51.68Overvalued
FCPTSignificantly Overvalued (-108.3%)

Margin of Safety

-108.3%

Fair Value

$12.12

Current Price

$23.90

$11.78 premium

UndervaluedFair: $12.12Overvalued

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

FCPT3 strengths · Avg: 9.3/10
Profit MarginProfitability
38.2%10/10

Keeps 38 of every $100 in revenue as profit

Operating MarginProfitability
56.3%10/10

Strong operational efficiency at 56.3%

Price/BookValuation
1.6x8/10

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
43.0x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-1.47B2/10

Negative free cash flow — burning cash

FCPT3 concerns · Avg: 3.0/10
EPS GrowthGrowth
2.7%4/10

2.7% earnings growth

Return on EquityProfitability
7.3%3/10

ROE of 7.3% — below average capital efficiency

Altman Z-ScoreHealth
0.982/10

Distress zone — elevated risk

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 : FCPT

The strongest argument for FCPT centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 38.2% and operating margin at 56.3%. Revenue growth of 10.7% demonstrates continued momentum.

Bear Case : ADC

The primary concerns for ADC are Return on Equity, Piotroski F-Score, P/E Ratio. A P/E of 43.0x leaves little room for execution misses.

Bear Case : FCPT

The primary concerns for FCPT are EPS Growth, Return on Equity, Altman Z-Score.

Key Dynamics to Monitor

ADC profiles as a growth stock while FCPT is a mature play — different risk/reward profiles.

FCPT carries more volatility with a beta of 0.83 — expect wider price swings.

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

FCPT generates stronger free cash flow (48M), providing more financial flexibility.

Bottom Line

ADC scores higher overall (68/100 vs 56/100), 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.

Four Corners Property Trust Inc

REAL ESTATE · REIT - RETAIL · USA

Four Corners Property Trust Inc. (FCPT) is a prominent real estate investment trust (REIT) specializing in the acquisition and management of high-quality retail and restaurant properties across the United States. With a diversified portfolio primarily composed of single-tenant assets, FCPT is strategically positioned to deliver consistent cash flow and attractive returns to its shareholders. The company maintains robust relationships with leading restaurant brands, which not only reinforces its market presence but also enhances its growth prospects in an evolving retail environment. Through diligent asset management and a strong lease framework, FCPT is dedicated to maximizing long-term value for its investors while adapting to changing consumer trends.

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