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AGNC Investment AGNC

AGNC Investment scores good on business quality (7.2 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$8.67Oct 9, 2026
Business qualityGood
Next earningsOct 26, 2026
Insiders, 90 daysSelling

Why it matters

  1. What AGNC Investment does

    AGNC Investment Corp operates as a real estate investment trust, generating revenue primarily by investing in agency mortgage-backed securities on a leveraged basis. The company pays returns to investors through high-yield monthly dividends funded by spread income between asset yields and borrowing costs.

  2. What it does best

    AGNC delivers exceptional scale in agency mortgage-backed security investments, supported by an operating margin of 42.4%. This scale provides liquidity that smaller peers struggle to match, though the strategy remains inherently vulnerable to interest rate volatility.

  3. The main risk

    Rapid interest rate volatility poses the most severe threat, directly eroding book value and narrowing the net interest spread. Because the portfolio relies on high leverage with a debt-to-equity ratio of 8.2, sudden rate spikes force asset sales or margin calls.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin sits at a strong 42.4% with an ROE of 18.6%, driven by leveraged spread income. Profitability remains highly dependent on financing costs rather than operational scale efficiencies.

MoatWeak

The company lacks a durable economic moat, scoring in the bottom quartile for gross margins at 45.0%. Competitors can easily replicate its agency securities strategy since the underlying assets trade in highly liquid public markets.

GrowthFast

Revenue grew 18.9% to $5.3 billion over the latest period, accelerating compared to historical volatility. This top-line expansion tracks larger portfolio positioning and favorable agency mortgage spreads.

Financial healthStrong

Debt-to-equity stands at 8.2, reflecting heavy reliance on repo borrowings. Net income reached $2.1 billion against operating cash flow of $886 million. The balance sheet requires constant hedging to manage interest rate exposure.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

1 sold $221K outside pre-planned sales.

Our sealed record on AGNC

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is AGNC a good business?

AGNC Investment scores good on the Cluenex quality check (7.2 of 10), measured against its own industry. Profitability is strong, moat weak, growth fast and financial health strong.

Are insiders buying AGNC?

In the last 90 days of SEC Form 4 filings: 1 sold $221K outside pre-planned sales.

When does AGNC report earnings?

Oct 26, 2026.

For members

See AGNC today

  • Today's verdict on AGNC, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “AGNC Investment (AGNC)”, https://cluenex.com/stocks/agnc/, data as of Oct 10, 2026.