WallStSmart

Agree Realty Corporation (ADC)vsWelltower Inc (WELL)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Welltower Inc generates 1469% more annual revenue ($11.77B vs $750.04M). ADC leads profitability with a 29.2% profit margin vs 12.0%. 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: 8.0Profit: 7.0Value: 8.0Quality: 4.0
Piotroski: 3/9Altman Z: 1.16

WELL

Buy

57

out of 100

Grade: C

Growth: 10.0Profit: 5.5Value: 2.0Quality: 7.0
Piotroski: 4/9Altman Z: 1.20
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ADCUndervalued (+79.8%)

Margin of Safety

+79.8%

Fair Value

$380.37

Current Price

$73.41

$306.96 discount

UndervaluedFair: $380.37Overvalued
WELLSignificantly Overvalued (-78.3%)

Margin of Safety

-78.3%

Fair Value

$116.05

Current Price

$200.84

$84.79 premium

UndervaluedFair: $116.05Overvalued

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
48.7%10/10

Strong operational efficiency at 48.7%

Profit MarginProfitability
29.2%9/10

Keeps 29 of every $100 in revenue as profit

Revenue GrowthGrowth
18.7%8/10

18.7% revenue growth

WELL3 strengths · Avg: 9.7/10
Revenue GrowthGrowth
38.3%10/10

Revenue surging 38.3% year-over-year

EPS GrowthGrowth
157.9%10/10

Earnings expanding 157.9% YoY

Market CapQuality
$137.90B9/10

Large-cap with strong market position

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
3/93/10

Weak financial health signals

P/E RatioValuation
41.0x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-267.18M2/10

Negative free cash flow — burning cash

WELL4 concerns · Avg: 2.3/10
Return on EquityProfitability
3.2%3/10

ROE of 3.2% — below average capital efficiency

PEG RatioValuation
3.622/10

Expensive relative to growth rate

P/E RatioValuation
94.4x2/10

Premium valuation, high expectations priced in

Altman Z-ScoreHealth
1.202/10

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 29.2% and operating margin at 48.7%. Revenue growth of 18.7% demonstrates continued momentum.

Bull Case : WELL

The strongest argument for WELL centers on Revenue Growth, EPS Growth, Market Cap. Revenue growth of 38.3% 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 41.0x leaves little room for execution misses.

Bear Case : WELL

The primary concerns for WELL are Return on Equity, PEG Ratio, P/E Ratio. A P/E of 94.4x leaves little room for execution misses.

Key Dynamics to Monitor

WELL carries more volatility with a beta of 0.82 — expect wider price swings.

WELL is growing revenue faster at 38.3% — sustainability is the question.

WELL generates stronger free cash flow (282M), providing more financial flexibility.

Monitor REIT - RETAIL industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ADC scores higher overall (68/100 vs 57/100), backed by strong 29.2% margins and 18.7% 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.

Welltower Inc

REAL ESTATE · REIT - HEALTHCARE FACILITIES · USA

Welltower Inc. is a real estate investment trust that invests in healthcare infrastructure.

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