Phillips Edison & Company, Inc. (PECO) 10-Year Financial Performance & Capital Metrics

PECO • • REIT / Real Estate

Real EstateRetail REITsOpen-Air Shopping Centers

AboutPhillips Edison & Company, Inc. (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States. Through its vertically-integrated operating platform, the Company manages a portfolio of 309 properties, including 283 wholly-owned properties comprising approximately 31.7 million square feet across 31 states (as of September 30, 2020). PECO has generated strong operating results over its 29+ year history and has partnered with leading institutional commercial real estate investors, including TPG Real Estate and The Northwestern Mutual Life Insurance Company. The Company remains exclusively focused on creating great grocery-anchored shopping experiences and improving the communities it serves one center at a time.Show more

Revenue $661M +8.4%
FFO $301M +6.4%
FFO/Share 2.20 +3.4%
FFO Payout 44.49% -7.2%
FFO per Share 2.20 +3.4%
NOI Margin 71.22% -0.1%
FFO Margin 45.54% -1.8%
ROE 2.37% +9.5%
ROA 1.26% +6.8%
Debt/Assets 41.9% -1.9%
Net Debt/EBITDA 3.18 -5.5%
Book Value/Share 19.25 -3.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 12.6% TTM
✓Sustainable FFO payout ratio of 44.5%
✓High NOI margin of 71.2%
✓Healthy dividend yield of 2.5%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.1%
✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.39%

5Y4.27%

3Y7.47%

TTM28.13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y60.64%

TTM41.06%

EPS CAGR

10Y-

5Y-

3Y57.72%

TTM43.33%

ROCE

10Y Avg7.07%

5Y Avg7.91%

3Y Avg8.58%

Latest9.05%

Peer Comparison

Open-Air Shopping Centers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CDR-PBCedar Realty Trust, Inc.	259.82M	18.94	135.29	-0.24%	16.76%	88.23%		2.54
CDR-PCCedar Realty Trust, Inc.	247.61M	18.05	128.93	-0.24%	16.76%	88.23%		2.54
PECOPhillips Edison & Company, Inc.	4.94B	39.28	77.02	8.4%	9.95%	3.18%	4.85%	0.80
CURBCurbline Properties Corp.	2.93B	27.81	75.16	52.25%	21.73%	2.08%	3.66%	0.29
KIMKimco Realty Corporation	16B	23.55	42.82	14.22%	27.29%	5.54%	4.26%	0.79
REGRegency Centers Corporation	14.4B	79.00	37.44	9.74%	26.36%	5.83%	5.49%	0.73
BRXBrixmor Property Group Inc.	9.27B	30.27	24.22	6.73%	28.16%	12.83%	7.04%
IVTInvenTrust Properties Corp.	2.42B	31.20	21.97	9.2%	37.3%	6.21%	6.41%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	242.1M	257.73M	311.54M	430.39M	536.71M	498.02M	532.85M	575.37M	610.12M	661.39M
Revenue Growth %	28.63%	6.46%	20.88%	38.15%	24.7%	-7.21%	6.99%	7.98%	6.04%	8.4%
Property Operating Expenses	79.09M	78.52M	97.28M	132.54M	161.06M	154.51M	158.29M	163.22M	175.12M	190.32M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	15.83M	36.31M	60.91M	50.41M	48.52M	41.38M	48.82M	45.23M	44.37M	45.61M
G&A Expenses	15.83M	36.31M	60.91M	50.41M	48.52M	41.38M	48.82M	45.23M	44.37M	45.61M
EBITDA+	244.73M	244.98M	281.42M	434.77M	559.8M	523.63M	543.58M	591.85M	616.78M	663.99M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	97.55M	102.07M	128.07M	187.33M	232.69M	221.51M	217.85M	224.93M	226.14M	238.52M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	147.18M	142.91M	153.35M	247.44M	327.12M	302.13M	325.73M	366.91M	390.64M	425.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	32.39M	32.46M	45.66M	72.64M	103.17M	85.3M	76.37M	71.2M	83.86M	95.7M
Interest Coverage	4.54x	4.40x	3.36x	3.41x	3.17x	3.54x	4.27x	5.15x	4.66x	4.45x
Non-Operating Income	101.48M	106.09M	130.67M	191.28M	236.87M	224.68M	221.43M	236.22M	236.44M	253.02M
Pretax Income+	13.56M	9.04M	-41.72M	46.98M	-72.83M	5.46M	17.23M	54.53M	64.2M	71.52M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	0	438K	1.82M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	13.36M	8.93M	-38.39M	39.14M	-63.53M	4.77M	15.12M	48.32M	56.85M	62.69M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	159.02%	-33.14%	-529.81%	201.95%	-262.33%	107.51%	216.87%	219.58%	17.64%	10.27%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	105.37%	0.09%	-19.21%	152.53%	-25.31%	33.77%	2.96%	17.29%	3.56%	6.44%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.22	0.15	-0.64	0.59	-0.67	0.05	0.13	0.42	0.48	0.51
EPS Growth %	156.41%	-31.82%	-526.67%	192.19%	-213.56%	107.33%	164.77%	223.08%	14.29%	6.25%
EPS (Basic)	0.22	0.15	-0.63	0.60	-0.67	0.05	0.15	0.42	0.48	0.51
Diluted Shares Outstanding	62.13M	62.22M	65.5M	80.46M	109.04M	111.16M	116.67M	130.33M	132.97M	136.82M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	2.23B	2.38B	3.53B	5.16B	4.83B	4.68B	4.67B	4.74B	4.87B	5.05B
Asset Growth %	3.91%	6.51%	48.14%	46.44%	-6.49%	-3.1%	-0.21%	1.43%	2.75%	3.71%
Real Estate & Other Assets+	-164.19M	37.55M	37.41M	-209.88M	126.25M	4.37B	4.37B	4.52B	4.65B	43.89M
PP&E (Net)	2.12B	2.25B	10.31M	14.31M	19.43M	21.58M	24.82M	23.05M	24.07M	4.58B
Investment Securities	22K	-1000K	902K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	47.51M	49.95M	97.19M	106.79M	101.15M	211.67M	200.32M	115.07M	125.08M	145.59M
Cash & Equivalents	40.68M	8.22M	5.72M	16.79M	17.82M	104.3M	92.58M	5.48M	4.87M	4.88M
Receivables	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	6.83M	44.71M	21.73M	67.51M	1.14M	18.95M	11.29M	-2.7M	4.01M	21.35M
Intangible Assets	233.55M	43.03M	55.1M	14.05M	2.44M	6.8M	6.71M	6.69M	6.69M	206.65M
Total Liabilities	943.02M	1.16B	2.05B	2.75B	2.66B	2.66B	2.19B	2.14B	2.21B	2.41B
Total Debt+	854.08M	1.06B	1.81B	2.51B	2.47B	2.39B	2B	2.01B	2.08B	2.11B
Net Debt	813.4M	1.05B	1.8B	2.5B	2.45B	2.29B	1.91B	2B	2.07B	2.11B
Long-Term Debt	845.96M	879.19M	1.81B	2.44B	2.35B	2.29B	1.89B	1.82B	1.79B	2.07B
Short-Term Borrowings	0	0	61.57M	73.36M	0	0	0	79M	181M	37.64M
Capital Lease Obligations	39.78M	43.03M	0	132.66M	112.76M	101.91M	108.29M	110.38M	108.53M	4.75M
Total Current Liabilities+	49.16M	56.21M	149.78M	126.67M	140.01M	191.52M	116.66M	210.67M	315.82M	195.64M
Accounts Payable	49.16M	56.21M	102.64M	123.04M	124.05M	176.94M	97.23M	113.19M	116.46M	145.38M
Deferred Revenue	-141M	-176.97M	2.05B	14.03M	15.96M	14.58M	19.14M	18.48M	18.36M	22.91M
Other Liabilities	0	181.57M	90.62M	38.4M	37.02M	76.76M	76.53M	137.89M	0	140.44M
Total Equity+	1.29B	1.22B	1.48B	2.41B	2.17B	2.02B	2.48B	2.6B	2.65B	2.63B
Equity Growth %	-6.27%	-5.19%	20.73%	63.18%	-10.12%	-7.05%	22.84%	4.89%	2.15%	-0.73%
Shareholders Equity	1.27B	1.2B	1.05B	2B	1.81B	1.69B	2.15B	2.24B	2.31B	2.32B
Minority Interest	25.18M	23.41M	432.44M	414.91M	354.79M	325.57M	326.81M	360.95M	343.04M	314.06M
Common Stock	1.81M	1.85M	1.85M	2.8M	2.89M	2.8M	1.13M	1.17M	1.22M	1.25M
Additional Paid-in Capital	1.59B	1.63B	1.63B	2.67B	2.78B	2.74B	3.26B	3.38B	3.55B	3.65B
Retained Earnings	-323.76M	-438.15M	-601.24M	-692.04M	-947.25M	-999.49M	-1.09B	-1.17B	-1.25B	-1.33B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.61%	0.39%	-1.3%	0.9%	-1.27%	0.1%	0.32%	1.03%	1.18%	1.26%
Return on Equity (ROE)	1%	0.71%	-2.84%	2.01%	-2.77%	0.23%	0.67%	1.9%	2.17%	2.37%
Debt / Assets	38.22%	44.37%	51.25%	48.65%	51.08%	51.18%	42.82%	42.37%	42.7%	41.9%
Debt / Equity	0.66x	0.86x	1.22x	1.04x	1.14x	1.19x	0.81x	0.77x	0.78x	0.80x
Net Debt / EBITDA	3.32x	4.28x	6.40x	5.74x	4.37x	4.37x	3.51x	3.38x	3.36x	3.18x
Book Value per Share	20.79	19.68	22.58	29.99	19.89	18.14	21.22	19.93	19.95	19.25

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	106.07M	103.08M	108.86M	153.29M	226.88M	210.58M	262.9M	290.89M	290.97M	334.71M
Operating CF Growth %	40.18%	-2.83%	5.61%	40.81%	48%	-7.18%	24.85%	10.65%	0.03%	15.03%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	13.56M	9.04M	-41.72M	46.98M	-72.83M	5.46M	17.23M	54.53M	56.85M	62.69M
Depreciation & Amortization	98.37M	103.28M	128.94M	187.33M	232.69M	221.51M	217.85M	231.9M	236.44M	253.02M
Stock-Based Compensation	0	0	27.44M	5.1M	7.72M	5.86M	16.39M	15.41M	9.4M	9.7M
Other Non-Cash Items	1.64M	-5.31M	20.61M	-66.23M	71.58M	5.38M	26.39M	-10.75M	-2.31M	-429K
Working Capital Changes	-7.5M	-3.94M	1.03M	-19.88M	-12.28M	-15.89M	4.01M	-192K	-9.41M	9.74M
Cash from Investing+	-110.77M	-226.22M	-620.75M	-258.87M	64.18M	-44.09M	-180.49M	-331.25M	-353.39M	-392.94M
Acquisitions (Net)	0	0	-456.7M	-201.67M	-11.69M	3.45M	5.04M	4.15M	0	0
Purchase of Investments	-91.17M	-201.11M	-159.7M	-87.07M	0	-41.48M	-8.51M	-3M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	0	1000K
Other Investing	2.24M	1.01M	37.8M	-8.21M	151.36M	0	-177.02M	-279.92M	-258.12M	-303.71M
Cash from Financing+	29.73M	90.69M	509.38M	162.44M	-280.25M	-129.66M	-98.82M	-57.83M	53.95M	58.01M
Dividends Paid	-59.39M	-64.27M	-74.2M	-80.73M	-123.14M	-49.33M	-106.7M	-127.08M	-135.75M	-134.02M
Common Dividends	-59.39M	-64.27M	-74.2M	-80.73M	-123.14M	-49.33M	-106.7M	-127.08M	-135.75M	-134.02M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K
Share Repurchases	-74.47M	-20.3M	-46.54M	-53.15M	-34.67M	-5.27M	-77.77M	0	0	0
Other Financing	-8.39M	-4.84M	-26.1M	-36.3M	-29.68M	-10.08M	-15.01M	-17.95M	-17.93M	-16.1M
Net Change in Cash+	25.03M	-32.46M	-2.51M	56.86M	10.8M	36.83M	-16.41M	-98.18M	-8.47M	-229K
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	15.65M	40.68M	8.22M	27.45M	84.3M	95.11M	131.94M	115.53M	17.35M	8.88M
Cash at End	40.68M	8.22M	5.72M	84.3M	95.11M	131.94M	115.53M	17.35M	8.88M	8.65M
Free Cash Flow+	-6.94M	-124.15M	-92.98M	104.31M	151.38M	146.61M	187.87M	186.4M	195.71M	239.63M
FCF Growth %	98.93%	-1689.19%	25.11%	212.18%	45.13%	-3.15%	28.14%	-0.78%	5%	22.44%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.79	1.78	1.37	2.81	1.55	2.04	2	2.1	2.13	2.2
FFO Payout Ratio	53.55%	57.9%	82.73%	35.65%	72.8%	21.8%	45.8%	46.51%	47.97%	44.49%
NOI Margin	67.33%	69.54%	68.77%	69.2%	69.99%	68.98%	70.29%	71.63%	71.3%	71.22%
Net Debt / EBITDA	3.32x	4.28x	6.40x	5.74x	4.37x	4.37x	3.51x	3.38x	3.36x	3.18x
Debt / Assets	38.22%	44.37%	51.25%	48.65%	51.08%	51.18%	42.82%	42.37%	42.7%	41.9%
Interest Coverage	4.54x	4.40x	3.36x	3.41x	3.17x	3.54x	4.27x	5.15x	4.66x	4.45x
Book Value / Share	20.79	19.68	22.58	29.99	19.89	18.14	21.22	19.93	19.95	19.25
Revenue Growth	28.63%	6.46%	20.88%	38.15%	24.7%	-7.21%	6.99%	7.98%	6.04%	8.4%

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Phillips Edison & Company, Inc. (PECO) 10-Year Financial Performance & Capital Metrics

PECO • • REIT / Real Estate

Real EstateRetail REITsOpen-Air Shopping Centers

Revenue $661M +8.4%
FFO $301M +6.4%
FFO/Share 2.20 +3.4%
FFO Payout 44.49% -7.2%
FFO per Share 2.20 +3.4%
NOI Margin 71.22% -0.1%
FFO Margin 45.54% -1.8%
ROE 2.37% +9.5%
ROA 1.26% +6.8%
Debt/Assets 41.9% -1.9%
Net Debt/EBITDA 3.18 -5.5%
Book Value/Share 19.25 -3.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FFO growing 12.6% TTM
✓Sustainable FFO payout ratio of 44.5%
✓High NOI margin of 71.2%
✓Healthy dividend yield of 2.5%
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 2.1%
✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.39%

5Y4.27%

3Y7.47%

TTM28.13%

Profit (Net Income) CAGR

10Y-

5Y-

3Y60.64%

TTM41.06%

EPS CAGR

10Y-

5Y-

3Y57.72%

TTM43.33%

ROCE

10Y Avg7.07%

5Y Avg7.91%

3Y Avg8.58%

Latest9.05%

Peer Comparison

Open-Air Shopping Centers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CDR-PBCedar Realty Trust, Inc.	259.82M	18.94	135.29	-0.24%	16.76%	88.23%		2.54
CDR-PCCedar Realty Trust, Inc.	247.61M	18.05	128.93	-0.24%	16.76%	88.23%		2.54
PECOPhillips Edison & Company, Inc.	4.94B	39.28	77.02	8.4%	9.95%	3.18%	4.85%	0.80
CURBCurbline Properties Corp.	2.93B	27.81	75.16	52.25%	21.73%	2.08%	3.66%	0.29
KIMKimco Realty Corporation	16B	23.55	42.82	14.22%	27.29%	5.54%	4.26%	0.79
REGRegency Centers Corporation	14.4B	79.00	37.44	9.74%	26.36%	5.83%	5.49%	0.73
BRXBrixmor Property Group Inc.	9.27B	30.27	24.22	6.73%	28.16%	12.83%	7.04%
IVTInvenTrust Properties Corp.	2.42B	31.20	21.97	9.2%	37.3%	6.21%	6.41%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	242.1M	257.73M	311.54M	430.39M	536.71M	498.02M	532.85M	575.37M	610.12M	661.39M
Revenue Growth %	28.63%	6.46%	20.88%	38.15%	24.7%	-7.21%	6.99%	7.98%	6.04%	8.4%
Property Operating Expenses	79.09M	78.52M	97.28M	132.54M	161.06M	154.51M	158.29M	163.22M	175.12M	190.32M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	15.83M	36.31M	60.91M	50.41M	48.52M	41.38M	48.82M	45.23M	44.37M	45.61M
G&A Expenses	15.83M	36.31M	60.91M	50.41M	48.52M	41.38M	48.82M	45.23M	44.37M	45.61M
EBITDA+	244.73M	244.98M	281.42M	434.77M	559.8M	523.63M	543.58M	591.85M	616.78M	663.99M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	97.55M	102.07M	128.07M	187.33M	232.69M	221.51M	217.85M	224.93M	226.14M	238.52M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	147.18M	142.91M	153.35M	247.44M	327.12M	302.13M	325.73M	366.91M	390.64M	425.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	32.39M	32.46M	45.66M	72.64M	103.17M	85.3M	76.37M	71.2M	83.86M	95.7M
Interest Coverage	4.54x	4.40x	3.36x	3.41x	3.17x	3.54x	4.27x	5.15x	4.66x	4.45x
Non-Operating Income	101.48M	106.09M	130.67M	191.28M	236.87M	224.68M	221.43M	236.22M	236.44M	253.02M
Pretax Income+	13.56M	9.04M	-41.72M	46.98M	-72.83M	5.46M	17.23M	54.53M	64.2M	71.52M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	0	438K	1.82M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	13.36M	8.93M	-38.39M	39.14M	-63.53M	4.77M	15.12M	48.32M	56.85M	62.69M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	159.02%	-33.14%	-529.81%	201.95%	-262.33%	107.51%	216.87%	219.58%	17.64%	10.27%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	105.37%	0.09%	-19.21%	152.53%	-25.31%	33.77%	2.96%	17.29%	3.56%	6.44%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.22	0.15	-0.64	0.59	-0.67	0.05	0.13	0.42	0.48	0.51
EPS Growth %	156.41%	-31.82%	-526.67%	192.19%	-213.56%	107.33%	164.77%	223.08%	14.29%	6.25%
EPS (Basic)	0.22	0.15	-0.63	0.60	-0.67	0.05	0.15	0.42	0.48	0.51
Diluted Shares Outstanding	62.13M	62.22M	65.5M	80.46M	109.04M	111.16M	116.67M	130.33M	132.97M	136.82M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	2.23B	2.38B	3.53B	5.16B	4.83B	4.68B	4.67B	4.74B	4.87B	5.05B
Asset Growth %	3.91%	6.51%	48.14%	46.44%	-6.49%	-3.1%	-0.21%	1.43%	2.75%	3.71%
Real Estate & Other Assets+	-164.19M	37.55M	37.41M	-209.88M	126.25M	4.37B	4.37B	4.52B	4.65B	43.89M
PP&E (Net)	2.12B	2.25B	10.31M	14.31M	19.43M	21.58M	24.82M	23.05M	24.07M	4.58B
Investment Securities	22K	-1000K	902K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	47.51M	49.95M	97.19M	106.79M	101.15M	211.67M	200.32M	115.07M	125.08M	145.59M
Cash & Equivalents	40.68M	8.22M	5.72M	16.79M	17.82M	104.3M	92.58M	5.48M	4.87M	4.88M
Receivables	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	6.83M	44.71M	21.73M	67.51M	1.14M	18.95M	11.29M	-2.7M	4.01M	21.35M
Intangible Assets	233.55M	43.03M	55.1M	14.05M	2.44M	6.8M	6.71M	6.69M	6.69M	206.65M
Total Liabilities	943.02M	1.16B	2.05B	2.75B	2.66B	2.66B	2.19B	2.14B	2.21B	2.41B
Total Debt+	854.08M	1.06B	1.81B	2.51B	2.47B	2.39B	2B	2.01B	2.08B	2.11B
Net Debt	813.4M	1.05B	1.8B	2.5B	2.45B	2.29B	1.91B	2B	2.07B	2.11B
Long-Term Debt	845.96M	879.19M	1.81B	2.44B	2.35B	2.29B	1.89B	1.82B	1.79B	2.07B
Short-Term Borrowings	0	0	61.57M	73.36M	0	0	0	79M	181M	37.64M
Capital Lease Obligations	39.78M	43.03M	0	132.66M	112.76M	101.91M	108.29M	110.38M	108.53M	4.75M
Total Current Liabilities+	49.16M	56.21M	149.78M	126.67M	140.01M	191.52M	116.66M	210.67M	315.82M	195.64M
Accounts Payable	49.16M	56.21M	102.64M	123.04M	124.05M	176.94M	97.23M	113.19M	116.46M	145.38M
Deferred Revenue	-141M	-176.97M	2.05B	14.03M	15.96M	14.58M	19.14M	18.48M	18.36M	22.91M
Other Liabilities	0	181.57M	90.62M	38.4M	37.02M	76.76M	76.53M	137.89M	0	140.44M
Total Equity+	1.29B	1.22B	1.48B	2.41B	2.17B	2.02B	2.48B	2.6B	2.65B	2.63B
Equity Growth %	-6.27%	-5.19%	20.73%	63.18%	-10.12%	-7.05%	22.84%	4.89%	2.15%	-0.73%
Shareholders Equity	1.27B	1.2B	1.05B	2B	1.81B	1.69B	2.15B	2.24B	2.31B	2.32B
Minority Interest	25.18M	23.41M	432.44M	414.91M	354.79M	325.57M	326.81M	360.95M	343.04M	314.06M
Common Stock	1.81M	1.85M	1.85M	2.8M	2.89M	2.8M	1.13M	1.17M	1.22M	1.25M
Additional Paid-in Capital	1.59B	1.63B	1.63B	2.67B	2.78B	2.74B	3.26B	3.38B	3.55B	3.65B
Retained Earnings	-323.76M	-438.15M	-601.24M	-692.04M	-947.25M	-999.49M	-1.09B	-1.17B	-1.25B	-1.33B
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.61%	0.39%	-1.3%	0.9%	-1.27%	0.1%	0.32%	1.03%	1.18%	1.26%
Return on Equity (ROE)	1%	0.71%	-2.84%	2.01%	-2.77%	0.23%	0.67%	1.9%	2.17%	2.37%
Debt / Assets	38.22%	44.37%	51.25%	48.65%	51.08%	51.18%	42.82%	42.37%	42.7%	41.9%
Debt / Equity	0.66x	0.86x	1.22x	1.04x	1.14x	1.19x	0.81x	0.77x	0.78x	0.80x
Net Debt / EBITDA	3.32x	4.28x	6.40x	5.74x	4.37x	4.37x	3.51x	3.38x	3.36x	3.18x
Book Value per Share	20.79	19.68	22.58	29.99	19.89	18.14	21.22	19.93	19.95	19.25

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	106.07M	103.08M	108.86M	153.29M	226.88M	210.58M	262.9M	290.89M	290.97M	334.71M
Operating CF Growth %	40.18%	-2.83%	5.61%	40.81%	48%	-7.18%	24.85%	10.65%	0.03%	15.03%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	13.56M	9.04M	-41.72M	46.98M	-72.83M	5.46M	17.23M	54.53M	56.85M	62.69M
Depreciation & Amortization	98.37M	103.28M	128.94M	187.33M	232.69M	221.51M	217.85M	231.9M	236.44M	253.02M
Stock-Based Compensation	0	0	27.44M	5.1M	7.72M	5.86M	16.39M	15.41M	9.4M	9.7M
Other Non-Cash Items	1.64M	-5.31M	20.61M	-66.23M	71.58M	5.38M	26.39M	-10.75M	-2.31M	-429K
Working Capital Changes	-7.5M	-3.94M	1.03M	-19.88M	-12.28M	-15.89M	4.01M	-192K	-9.41M	9.74M
Cash from Investing+	-110.77M	-226.22M	-620.75M	-258.87M	64.18M	-44.09M	-180.49M	-331.25M	-353.39M	-392.94M
Acquisitions (Net)	0	0	-456.7M	-201.67M	-11.69M	3.45M	5.04M	4.15M	0	0
Purchase of Investments	-91.17M	-201.11M	-159.7M	-87.07M	0	-41.48M	-8.51M	-3M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	0	1000K	1000K	1000K	0	1000K
Other Investing	2.24M	1.01M	37.8M	-8.21M	151.36M	0	-177.02M	-279.92M	-258.12M	-303.71M
Cash from Financing+	29.73M	90.69M	509.38M	162.44M	-280.25M	-129.66M	-98.82M	-57.83M	53.95M	58.01M
Dividends Paid	-59.39M	-64.27M	-74.2M	-80.73M	-123.14M	-49.33M	-106.7M	-127.08M	-135.75M	-134.02M
Common Dividends	-59.39M	-64.27M	-74.2M	-80.73M	-123.14M	-49.33M	-106.7M	-127.08M	-135.75M	-134.02M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K
Share Repurchases	-74.47M	-20.3M	-46.54M	-53.15M	-34.67M	-5.27M	-77.77M	0	0	0
Other Financing	-8.39M	-4.84M	-26.1M	-36.3M	-29.68M	-10.08M	-15.01M	-17.95M	-17.93M	-16.1M
Net Change in Cash+	25.03M	-32.46M	-2.51M	56.86M	10.8M	36.83M	-16.41M	-98.18M	-8.47M	-229K
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	15.65M	40.68M	8.22M	27.45M	84.3M	95.11M	131.94M	115.53M	17.35M	8.88M
Cash at End	40.68M	8.22M	5.72M	84.3M	95.11M	131.94M	115.53M	17.35M	8.88M	8.65M
Free Cash Flow+	-6.94M	-124.15M	-92.98M	104.31M	151.38M	146.61M	187.87M	186.4M	195.71M	239.63M
FCF Growth %	98.93%	-1689.19%	25.11%	212.18%	45.13%	-3.15%	28.14%	-0.78%	5%	22.44%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.79	1.78	1.37	2.81	1.55	2.04	2	2.1	2.13	2.2
FFO Payout Ratio	53.55%	57.9%	82.73%	35.65%	72.8%	21.8%	45.8%	46.51%	47.97%	44.49%
NOI Margin	67.33%	69.54%	68.77%	69.2%	69.99%	68.98%	70.29%	71.63%	71.3%	71.22%
Net Debt / EBITDA	3.32x	4.28x	6.40x	5.74x	4.37x	4.37x	3.51x	3.38x	3.36x	3.18x
Debt / Assets	38.22%	44.37%	51.25%	48.65%	51.08%	51.18%	42.82%	42.37%	42.7%	41.9%
Interest Coverage	4.54x	4.40x	3.36x	3.41x	3.17x	3.54x	4.27x	5.15x	4.66x	4.45x
Book Value / Share	20.79	19.68	22.58	29.99	19.89	18.14	21.22	19.93	19.95	19.25
Revenue Growth	28.63%	6.46%	20.88%	38.15%	24.7%	-7.21%	6.99%	7.98%	6.04%	8.4%

Phillips Edison & Company, Inc. (PECO) 10-Year Financial Performance & Capital Metrics

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Phillips Edison & Company, Inc. (PECO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare PECO vs Peers

vs KIM

vs REG

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

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Financial Ratios