Agricultural finance company Farmer Mac (NYSE: AGM) announced better-than-expected revenue in Q3 2026, with revenue up 29.2% year on year to $122.7 million. Its non-GAAP profit of $4.82 per share was 7.3% below analysts’ consensus estimates.

For more on Farmer Mac, read the full research report for free.

Revenue growth

Reviewing a company’s long-term revenue performance reveals insights into its quality. Even a bad business can perform well for one or two quarters, but a top-tier one grows for years. Farmer Mac’s revenue grew at a solid 12.9% compounded annual growth rate over the last five years. Its growth beat the average financials company and shows its offerings resonate with customers.

Long-term growth matters most, but within financials, a half-decade historical view may miss recent interest rate changes, market returns and industry trends. Farmer Mac’s annualized revenue growth of 12.1% over the last two years aligns with its five-year trend, suggesting its demand was predictably strong. Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, Farmer Mac reported strong year-on-year revenue growth of 29.2%, and its $122.7 million in revenue topped Wall Street’s consensus estimates by 1.2%.

Key takeaways from Farmer Mac’s Q3 results

Farmer Mac delivered a weaker quarter overall, with revenue narrowly beating analysts’ consensus estimates but EPS falling short. Shares remained flat at $197.82 immediately after the release.

Farmer Mac underperformed this quarter. To assess whether the stock is a buy, consider the bigger picture of valuation and business quality as well as the latest earnings. For more on Farmer Mac, read the full research report here (it’s free).