AGNC Investment

AGNC

REIT - Mortgage · Real Estate

Also trades as: 0H6E.L

Price

$10.89

-0.03 (-0.27%)

Market Cap

$12.50B

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Good

Stability

Weak

Valuation

Good

Dividends

Good

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Share count rising — dilution

+93.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 530.0M (2021) → 1.02B (2025)

Winston Score History

The full picture

AGNC Investment Corp. is a real estate investment trust (REIT) that does not own physical buildings. Instead, it buys mortgage-backed securities (MBS) — basically bundles of home loans packaged into investments. Almost all of its holdings are agency MBS, meaning they are backed by the US government or government-sponsored entities like Fannie Mae and Freddie Mac, which reduces the risk of borrowers defaulting.

AGNC makes money by borrowing at short-term interest rates and using that money to buy higher-yielding mortgage securities, pocketing the difference — a strategy called a "carry trade." It operates entirely in the US and is one of the largest publicly traded agency mortgage REITs, with a portfolio worth tens of billions of dollars. Because it is required by law to pay out at least 90% of taxable income as dividends, it attracts income-focused investors, but its biggest risk is rising or volatile interest rates, which can squeeze the spread between its borrowing costs and investment returns.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+405.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$100.5B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

AGNC Investment's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

3.4%

Weak — 3.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+43.8%

Fast-growing sales (+43.8% YoY)

Profit growth

EPS YoY

+490.4%

Earnings growing fast (+490.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

38%

Weak — only 38% of profit becomes cash

Spare cash per sale

FCF Margin

27.5%

Converts sales into free cash efficiently (27.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

7.16

Heavy debt load (7.16)

Covers its interest

Interest Cover

1.19x

Dangerous — barely covers interest (1.2x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

5.5x

Attractive valuation — P/E 5.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-1.2

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

13.14%

Healthy income — 13.14% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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