Logotype for AGNC Investment Corp

AGNC Investment (AGNC) investor relations material

AGNC Investment Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for AGNC Investment Corp
Q2 2025 earnings summary22 Jul, 2025

Executive summary

  • Reported a comprehensive loss of $(0.13) per common share for Q2 2025, with an economic return of -1.0% and tangible net book value per share declining to $7.81 from $8.25.

  • Net spread and dollar roll income was $0.38 per share, while $0.36 per share was declared in dividends.

  • Raised $799 million in accretive capital through ATM offerings, with less than half deployed by quarter-end, mainly into higher-coupon specified pools.

  • Investment portfolio grew to $82.3 billion, primarily in 30-year fixed-rate Agency MBS, with a weighted average coupon of 5.13%.

  • Dividend yield stood at 15.7% as of June 30, 2025.

Financial highlights

  • Net loss attributable to common stockholders was $(178) million for Q2 2025; comprehensive loss was $(130) million.

  • Net interest income was $162 million for Q2 2025.

  • Tangible net book value per share decreased by $0.44 sequentially.

  • Leverage increased to 7.6x tangible equity at quarter end, with average leverage for the quarter at 7.5x.

  • Unencumbered cash and Agency MBS stood at $6.4 billion, representing 65% of tangible equity.

Outlook and guidance

  • Management maintains a favorable outlook for levered and hedged Agency MBS, expecting high-teen ROEs and stable or improving spreads.

  • Anticipates increased bank and foreign investor demand for Agency MBS as regulatory changes take effect and supply dynamics improve.

  • Portfolio and hedging strategies will remain dynamic in response to market conditions; duration gap at quarter-end was 0.2 years.

  • Net spread and dollar roll income expected to remain in the mid-to-high $0.30s to low $0.40s per share.

  • Confident in ability to operate with current or slightly higher leverage, given strong liquidity and risk management.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next AGNC Investment earnings date

Logotype for AGNC Investment Corp
Q3 202521 Oct, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next AGNC Investment earnings date

Logotype for AGNC Investment Corp
Q3 202521 Oct, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

AGNC Investment Corp invests in agency residential mortgage-backed securities (RMBS) on a leveraged basis; and non-agency RMBS, as well as markets its investment portfolios in the secondary market. The company qualifies to be taxed as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholder.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage