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PECOPhillips Edison & Company, Inc.
$40.69$5.1B
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PECO logoPhillips Edison & Company, Inc.(PECO)Earnings, Financials & Key Ratios

PECO•NASDAQ•REIT / Real Estate
45.7× P/E·Price updated Jun 19, 2026
SectorReal EstateIndustryRetail REITsSub-IndustryOpen-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$732M+10.7%
  • FFO$378M+25.4%
  • FFO/Share2.72+23.5%
  • FFO Payout41.64%-6.4%
  • FFO per Share2.72+23.5%
  • NOI Margin-1.39%-102.0%
  • FFO Margin51.57%+13.2%
  • ROE4.26%+79.7%
  • ROA2.15%+70.3%

PECO Key Insights

Phillips Edison & Company, Inc. (PECO) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 87.7%
  • ✓FFO growing 20.8% TTM
  • ✓Sustainable FFO payout ratio of 41.6%
  • ✓Healthy dividend yield of 2.8%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak 3Y average ROE of 2.9%
  • ✗Low NOI margin of -1.4%
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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PECO Price & Volume

Phillips Edison & Company, Inc. (PECO) stock price & volume — 10-year historical chart

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PECO Growth Metrics

Phillips Edison & Company, Inc. (PECO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years11.7%
5 Years8.02%
3 Years8.37%
TTM8.94%

Profit CAGR

10 Years23.61%
5 Years87.74%
3 Years32.06%
TTM61.72%

EPS CAGR

10 Years15%
5 Years78.51%
3 Years28.44%
TTM61.44%

Return on Capital

10 Years6.79%
5 Years7.4%
3 Years7.23%
Last Year4.04%

PECO Recent Earnings

Phillips Edison & Company, Inc. (PECO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 23, 2026
Metric
Actual
Est
EPS
$0.24+39.1%
$0.17
Rev
$186M+1.4%
$184M
Q1 2026
Feb 5, 2026
Metric
Actual
Est
EPS
$0.38+135.3%
$0.16
Rev
$183M+9.3%
$168M
Q4 2025
Oct 23, 2025
Metric
Actual
Est
EPS
$0.20-68.8%
$0.64
Rev
$294M+60.8%
$183M
Q3 2025
Jul 24, 2025
Metric
Actual
Est
EPS
$0.10-84.1%
$0.63
Rev
$178M+0.9%
$176M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 23, 2026
$0.24vs $0.17+39.1%
$186Mvs $184M+1.4%
Q1 2026Feb 5, 2026
$0.38vs $0.16+135.3%
$183Mvs $168M+9.3%
Q4 2025Oct 23, 2025
$0.20vs $0.64-68.8%
$294Mvs $183M+60.8%
Q3 2025Jul 24, 2025
$0.10vs $0.63-84.1%
$178Mvs $176M+0.9%
Based on last 12 quarters of dataView full earnings history →

PECO Peer Comparison

Phillips Edison & Company, Inc. (PECO) competitors in Open-Air Shopping Centers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
KIM logoKIMKimco Realty CorporationDirect Competitor16.44B24.3829.375.06%28.51%5.81%0.82
REG logoREGRegency Centers CorporationDirect Competitor14.08B76.8827.263.39%37.4%9%0.83
WHLR logoWHLRWheeler Real Estate Investment Trust, Inc.Direct Competitor1.26M3.47-0.00-4.9%5.9%6.31%5.11
SITC logoSITCSITE Centers Corp.Direct Competitor250.31M4.771.41-55.61%187.87%47.95%0.22
SPG logoSPGSimon Property Group, Inc.Product Competitor68.65B211.3314.956.72%70.4%97.99%4.35
BRX logoBRXBrixmor Property Group Inc.Product Competitor9.48B30.9124.736.73%31.99%14.85%1.95
AKR logoAKRAcadia Realty TrustProduct Competitor2.77B21.13222.4214.2%37.72%5.8%0.73
UE logoUEUrban Edge PropertiesProduct Competitor2.81B22.2730.096.06%22.2%7.8%1.21

Compare PECO vs Peers

Phillips Edison & Company, Inc. (PECO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KIM

Most directly comparable listed peer for PECO.

Scale Benchmark

vs WMT

Larger-name benchmark to compare PECO against a more recognizable public peer.

Peer Set

Compare Top 5

vs KIM, REG, WHLR, SITC

PECO Income Statement

Phillips Edison & Company, Inc. (PECO) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Revenue
311.54M430.39M536.71M498.02M532.85M575.37M610.12M661.39M732.3M739.02M
Revenue Growth %
20.88%38.15%24.7%-7.21%6.99%7.98%6.04%8.4%10.72%8.94%
Property Operating Expenses
97.28M132.54M161.06M154.51M158.29M163.22M175.12M190.32M742.48M213.78M
Net Operating Income (NOI)
214.26M▲ 0%
297.85M▲ 39.0%
375.64M▲ 26.1%
343.51M▼ 8.6%
374.55M▲ 9.0%
412.15M▲ 10.0%
435M▲ 5.5%
471.07M▲ 8.3%
-10.19M▼ 102.2%
525.25M▲ 0%
NOI Margin %
68.77%69.2%69.99%68.98%70.29%71.63%71.3%71.22%-1.39%71.07%
Operating Expenses
60.91M50.41M48.52M41.38M48.82M45.23M44.37M45.61M-209.03M247.63M
G&A Expenses
60.91M50.41M48.52M41.38M48.82M45.23M44.37M45.61M51.64M51.49M
EBITDA
281.42M434.77M559.8M523.63M543.58M591.85M616.78M663.99M465.22M542.12M
EBITDA Margin %
90.33%101.02%104.3%105.14%102.02%102.86%101.09%100.39%63.53%73.36%
Depreciation & Amortization
128.07M187.33M232.69M221.51M217.85M224.93M226.14M238.52M266.37M264.5M
D&A / Revenue %
41.11%43.53%43.35%44.48%40.88%39.09%37.06%36.06%36.38%35.79%
Operating Income
153.35M▲ 0%
247.44M▲ 61.4%
327.12M▲ 32.2%
302.13M▼ 7.6%
325.73M▲ 7.8%
366.91M▲ 12.6%
390.64M▲ 6.5%
425.46M▲ 8.9%
198.85M▼ 53.3%
277.62M▲ 0%
Operating Margin %
49.22%57.49%60.95%60.67%61.13%63.77%64.03%64.33%27.15%37.57%
Interest Expense
45.66M72.64M103.17M85.3M76.37M71.2M83.86M95.7M110.25M2M
Interest Coverage
0.50x0.77x0.87x0.91x1.37x1.84x1.84x1.80x2.17x-
Non-Operating Income
130.67M191.28M236.87M224.68M221.43M236.22M236.44M253.02M-40.53M39.48M
Pretax Income
-41.72M▲ 0%
46.98M▲ 212.6%
-72.83M▼ 255.0%
5.46M▲ 107.5%
17.23M▲ 215.5%
54.53M▲ 216.4%
64.2M▲ 17.7%
71.52M▲ 11.4%
124.28M▲ 73.8%
124.91M▲ 0%
Pretax Margin %
-13.39%10.91%-13.57%1.1%3.23%9.48%10.52%10.81%16.97%16.9%
Income Tax
000000438K1.82M1.31M453K
Effective Tax Rate %
0%0%0%0%0%0%0.68%2.55%1.05%0.36%
Net Income
-38.39M▲ 0%
39.14M▲ 201.9%
-63.53M▼ 262.3%
4.77M▲ 107.5%
15.12M▲ 216.9%
48.32M▲ 219.6%
56.85M▲ 17.6%
62.69M▲ 10.3%
111.3M▲ 77.6%
115.35M▲ 0%
Net Margin %
-12.32%9.09%-11.84%0.96%2.84%8.4%9.32%9.48%15.2%15.61%
Net Income Growth %
-529.81%201.95%-262.33%107.51%216.87%219.58%17.64%10.27%77.56%61.72%
Funds From Operations (FFO)
89.68M▲ 0%
226.47M▲ 152.5%
169.15M▼ 25.3%
226.28M▲ 33.8%
232.97M▲ 3.0%
273.26M▲ 17.3%
282.99M▲ 3.6%
301.21M▲ 6.4%
377.68M▲ 25.4%
379.85M▲ 0%
FFO Margin %
28.79%52.62%31.52%45.44%43.72%47.49%46.38%45.54%51.57%51.4%
FFO Growth %
-19.21%152.53%-25.31%33.77%2.96%17.29%3.56%6.44%25.39%87.74%
FFO per Share
1.372.811.552.042.002.102.132.202.723.04
FFO Payout Ratio %
82.73%35.65%72.8%21.8%45.8%46.51%47.97%44.49%41.64%27.83%
EPS (Diluted)
-0.64▲ 0%
0.59▲ 192.2%
-0.67▼ 213.6%
0.05▲ 107.3%
0.13▲ 164.8%
0.42▲ 223.1%
0.48▲ 14.3%
0.51▲ 6.3%
0.89▲ 74.5%
0.92▲ 0%
EPS Growth %
-526.67%192.19%-213.56%107.33%164.77%223.08%14.29%6.25%74.51%61.44%
EPS (Basic)
-0.630.60-0.670.050.150.420.480.510.90-
Diluted Shares Outstanding
65.5M80.46M109.04M111.16M116.67M130.33M132.97M136.82M138.9M125M

PECO Balance Sheet

Phillips Edison & Company, Inc. (PECO) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Assets
3.53B5.16B4.83B4.68B4.67B4.74B4.87B5.05B5.29B7.02B
Asset Growth %
48.14%46.44%-6.49%-3.1%-0.21%1.43%2.75%3.71%4.76%54.43%
Real Estate & Other Assets
37.41M-209.88M126.25M4.37B4.37B4.52B4.65B43.89M4.98B0
PP&E (Net)
10.31M14.31M19.43M21.58M24.82M23.05M24.07M4.58B30.06M625.24M
Investment Securities
902K1000K1000K1000K1000K1000K1000K1000K1000K0
Total Current Assets
97.19M106.79M101.15M211.67M200.32M115.07M125.08M145.59M193.89M3.14M
Cash & Equivalents
5.72M16.79M17.82M104.3M92.58M5.48M4.87M4.88M3.54M3.14M
Receivables
1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Assets
21.73M67.51M1.14M18.95M11.29M-2.7M4.01M21.35M39.77M0
Intangible Assets
55.1M14.05M2.44M6.8M6.71M6.69M6.69M206.65M6.7M0
Total Liabilities
2.05B2.75B2.66B2.66B2.19B2.14B2.21B2.41B2.7B2.77B
Total Debt
1.81B2.51B2.47B2.39B2B2.01B2.08B2.11B2.49B0
Net Debt
1.8B2.5B2.45B2.29B1.91B2B2.07B2.11B2.49B-3.14M
Long-Term Debt
1.81B2.44B2.35B2.29B1.89B1.82B1.79B2.07B2.28B0
Short-Term Borrowings
61.57M73.36M00079M181M37.64M92M0
Capital Lease Obligations
0132.66M112.76M101.91M108.29M110.38M108.53M4.75M118.84M358.38M
Total Current Liabilities
149.78M126.67M140.01M191.52M116.66M210.67M315.82M195.64M295.38M23.25M
Accounts Payable
102.64M123.04M124.05M176.94M97.23M113.19M116.46M145.38M180.33M0
Deferred Revenue
2.05B14.03M15.96M14.58M19.14M18.48M18.36M22.91M23.04M23.25M
Other Liabilities
90.62M38.4M37.02M76.76M76.53M00140.44M02.75B
Total Equity
1.48B▲ 0%
2.41B▲ 63.2%
2.17B▼ 10.1%
2.02B▼ 7.0%
2.48B▲ 22.8%
2.6B▲ 4.9%
2.65B▲ 2.2%
2.63B▼ 0.7%
2.59B▼ 1.7%
2.58B▲ 0%
Equity Growth %
20.73%63.18%-10.12%-7.05%22.84%4.89%2.15%-0.73%-1.69%-4.03%
Shareholders Equity
1.05B2B1.81B1.69B2.15B2.24B2.31B2.32B2.29B2.28B
Minority Interest
432.44M414.91M354.79M325.57M326.81M360.95M343.04M314.06M302.81M301.19M
Common Stock
1.85M2.8M2.89M2.8M1.13M1.17M1.22M1.25M1.26M1.26M
Additional Paid-in Capital
1.63B2.67B2.78B2.74B3.26B3.38B3.55B3.65B3.66B0
Retained Earnings
-601.24M-692.04M-947.25M-999.49M-1.09B-1.17B-1.25B-1.33B-1.38B-1.39B
Preferred Stock
0000000000
Return on Assets (ROA)
-1.3%0.9%-1.27%0.1%0.32%1.03%1.18%1.26%2.15%2.02%
Return on Equity (ROE)
-2.84%2.01%-2.77%0.23%0.67%1.9%2.17%2.37%4.26%4.46%
Debt / Assets
51.25%48.65%51.08%51.18%42.82%42.37%42.7%41.9%47.17%0%
Debt / Equity
1.22x1.04x1.14x1.19x0.81x0.77x0.78x0.80x0.96x0.00x
Net Debt / EBITDA
6.40x5.74x4.37x4.37x3.51x3.38x3.36x3.18x5.35x-0.01x
Book Value per Share
22.5829.9919.8918.1421.2219.9319.9519.2518.6420.64

PECO Cash Flow Statement

Phillips Edison & Company, Inc. (PECO) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
108.86M153.29M226.88M210.58M262.9M290.89M290.97M334.71M348.15M343.16M
Operating CF Growth %
5.61%40.81%48%-7.18%24.85%10.65%0.03%15.03%4.02%16.09%
Operating CF / Revenue %
34.94%35.62%42.27%42.28%49.34%50.56%47.69%50.61%47.54%46.43%
Net Income
-41.72M46.98M-72.83M5.46M17.23M54.53M56.85M62.69M122.97M115.35M
Depreciation & Amortization
128.94M187.33M232.69M221.51M217.85M231.9M236.44M253.02M257.73M259.93M
Stock-Based Compensation
27.44M5.1M7.72M5.86M16.39M15.41M9.4M9.7M11.68M11.69M
Other Non-Cash Items
20.61M-66.23M71.58M5.38M26.39M-10.75M-2.31M-429K-41.55M-77.9M
Working Capital Changes
1.03M-19.88M-12.28M-15.89M4.01M-192K-9.41M9.74M-2.68M24.99M
Cash from Investing
-620.75M-258.87M64.18M-44.09M-180.49M-331.25M-353.39M-392.94M-392.29M-356.58M
Acquisitions (Net)
-456.7M-201.67M-11.69M3.45M5.04M4.15M00-11.83M-8.7M
Purchase of Investments
-159.7M-87.07M0-41.48M-8.51M-3M00-8.31M-6.81M
Sale of Investments
37.8M78.65M057.9M75.03M52.02M05.85M133K963K
Other Investing
37.8M-8.21M151.36M0-177.02M-279.92M-258.12M-303.71M-236.14M-205.79M
Cash from Financing
509.38M162.44M-280.25M-129.66M-98.82M-57.83M53.95M58.01M78.8M27.92M
Dividends Paid
-74.2M-80.73M-123.14M-49.33M-106.7M-127.08M-135.75M-134.02M-157.28M-105.73M
Common Dividends
-74.2M-80.73M-123.14M-49.33M-106.7M-127.08M-135.75M-134.02M-157.28M-105.73M
Debt Issuance (Net)
1000K1000K-1000K-1000K-1000K-1000K1000K1000K1000K-1000K
Share Repurchases
-46.54M-53.15M-34.67M-5.27M-77.77M00000
Other Financing
-26.1M-36.3M-29.68M-10.08M-15.01M-17.95M-17.93M-16.1M-16.63M40.53M
Net Change in Cash
-2.51M▲ 0%
56.86M▲ 2367.1%
10.8M▼ 81.0%
36.83M▲ 240.9%
-16.41M▼ 144.6%
-98.18M▼ 498.4%
-8.47M▲ 91.4%
-229K▲ 97.3%
34.66M▲ 15236.7%
14.51M▲ 0%
Exchange Rate Effect
0000000000
Cash at Beginning
8.22M27.45M84.3M95.11M131.94M115.53M17.35M8.88M8.65M43.31M
Cash at End
5.72M84.3M95.11M131.94M115.53M17.35M8.88M8.65M43.31M22.36M
Free Cash Flow
-92.98M▲ 0%
104.31M▲ 212.2%
151.38M▲ 45.1%
146.61M▼ 3.2%
187.87M▲ 28.1%
186.4M▼ 0.8%
195.71M▲ 5.0%
239.63M▲ 22.4%
212M▼ 11.5%
206.92M▲ 0%
FCF Growth %
25.11%212.18%45.13%-3.15%28.14%-0.78%5%22.44%-11.53%-7.46%
FCF / Revenue %
-29.85%24.24%28.21%29.44%35.26%32.4%32.08%36.23%28.95%28%

PECO Key Ratios

Phillips Edison & Company, Inc. (PECO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
FFO per Share
1.372.811.552.0422.12.132.22.723.04
FFO Payout Ratio
82.73%35.65%72.8%21.8%45.8%46.51%47.97%44.49%41.64%27.83%
NOI Margin
68.77%69.2%69.99%68.98%70.29%71.63%71.3%71.22%-1.39%71.07%
Net Debt / EBITDA
6.40x5.74x4.37x4.37x3.51x3.38x3.36x3.18x5.35x-0.01x
Debt / Assets
51.25%48.65%51.08%51.18%42.82%42.37%42.7%41.9%47.17%0%
Interest Coverage
0.50x0.77x0.87x0.91x1.37x1.84x1.84x1.80x2.17x-
Book Value / Share
22.5829.9919.8918.1421.2219.9319.9519.2518.6420.64
Revenue Growth
20.88%38.15%24.7%-7.21%6.99%7.98%6.04%8.4%10.72%8.94%
Related:PECO Dividend History·PECO Revenue History·PECO Price History·PECO P/E History·PECO Financial Ratios·PECO Institutional Holders

PECO SEC Filings & Documents

Phillips Edison & Company, Inc. (PECO) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 23, 2026·SEC

Material company update

Feb 26, 2026·SEC

Material company update

Feb 12, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 10, 2026·SEC

FY 2025

Feb 11, 2025·SEC

FY 2024

Feb 12, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 24, 2026·SEC

FY 2025

Oct 24, 2025·SEC

FY 2025

Jul 25, 2025·SEC

PECO Frequently Asked Questions

Phillips Edison & Company, Inc. (PECO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Phillips Edison & Company, Inc. (PECO) reported $739.0M in revenue for fiscal year 2025. This represents a 4111% increase from $17.6M in 2012.

Phillips Edison & Company, Inc. (PECO) grew revenue by 10.7% over the past year. This is steady growth.

Yes, Phillips Edison & Company, Inc. (PECO) is profitable, generating $115.3M in net income for fiscal year 2025 (15.2% net margin).

Dividend & Returns

Yes, Phillips Edison & Company, Inc. (PECO) pays a dividend with a yield of 2.78%. This makes it attractive for income-focused investors.

Phillips Edison & Company, Inc. (PECO) has a return on equity (ROE) of 4.3%. This is below average, suggesting room for improvement.

Industry Metrics

Phillips Edison & Company, Inc. (PECO) generated Funds From Operations (FFO) of $379.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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