AGNC posts FY 2025 economic return on tangible common equity of 22.7% and net income of USD 1.67B

AGNC reported FY 2025 comprehensive income of USD 1.94 billion and net income of USD 1.67 billion, with net income available to common stockholders of USD 1.51 billion. Comprehensive income per diluted common share was USD 1.74 and net income per diluted common share was USD 1.47. Dividends declared were USD 1.44 per common share, and economic return on tangible common equity was 22.7%. Net interest income was USD 675 million in FY 2025, as interest income rose to USD 3.52 billion (+19%) and interest expense was USD 2.85 billion. Net spread and dollar roll income available to common stockholders was USD 1.54 billion, or USD 1.50 per diluted common share (down 20%), which AGNC said was primarily driven by lower swap income following maturities of legacy low fixed pay-rate swaps and a timing mismatch related to issuance and deployment of USD 345 million of new preferred equity and USD 2.00 billion of new common equity capital. At Dec. 31, 2025, AGNC’s investment portfolio totaled USD 94.8 billion, including USD 81.1 billion of Agency RMBS and a USD 13.0 billion net TBA position, with 30-year fixed-rate Agency RMBS and TBAs representing 95% of the portfolio. Tangible net book value per common share was USD 8.88, with “at risk” leverage of 7.2x and unencumbered cash and Agency RMBS liquidity of USD 7.6 billion (64% of tangible equity). AGNC reported a 77% hedge ratio at year-end and said it increased its receiver swaption position by USD 6.90 billion during 2025 to add protection in a declining rate environment.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AGNC Investment Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001423689-26-000043), on February 23, 2026, and is solely responsible for the information contained therein.