Tanger Inc.(SKT)Earnings, Financials & Key Ratios

SKT•NYSE•REIT / Real Estate

$36.20

$4.15B mkt cap·36.2× P/E·Price updated May 6, 2026

SectorReal Estate IndustryRetail REITs Sub-IndustryMalls and Outlet Centers

AboutTanger Inc. (NYSE: SKT) is a leading owner and operator of outlet and open-air retail shopping destinations, with over 43 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers, one adjacent managed center and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in 20 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 700 different brand name companies.Show more

Revenue$582M+10.5%
FFO$266M+12.0%
FFO/Share2.32+8.6%
FFO Payout49.75%-1.8%
FFO per Share2.32+8.6%
NOI Margin17.73%-74.6%
FFO Margin45.7%+1.3%
ROE16.23%+4.6%
ROA4.56%+8.7%
Debt/Assets63.57%+0.4%
Net Debt/EBITDA5.12+1.3%
Book Value/Share6.42+4.9%

Technical→

SKT Key Insights

Tanger Inc. (SKT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓FFO growing 12.0% TTM
✓Sustainable FFO payout ratio of 49.7%
✓Good 3Y average ROE of 16.6%
✓Healthy dividend yield of 3.2%
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 2.3x
✗Low NOI margin of 17.7%

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

SKT Price & Volume

Tanger Inc. (SKT) stock price & volume — 10-year historical chart

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SKT Growth Metrics

Tanger Inc. (SKT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years2.84%

5 Years8.32%

3 Years9.53%

TTM10.55%

Profit CAGR

10 Years-5.92%

5 Years-

3 Years11.83%

TTM16.41%

EPS CAGR

10 Years-7.58%

5 Years-

3 Years9.1%

TTM14.94%

Return on Capital

10 Years6.88%

5 Years6.23%

3 Years6.78%

Last Year7.38%

SKT Recent Earnings

Tanger Inc. (SKT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 11/12 qtrs (92%)●Beat Revenue 10/12 qtrs (83%)

Q2 2026Latest

Apr 30, 2026

EPS

$0.59

Est $0.24

+145.8%

Revenue

$144M

Est $143M

+0.4%

Q1 2026

Feb 24, 2026

EPS

$0.63

Est $0.26

+145.6%

Revenue

$151M

Est $143M

+5.5%

Q4 2025

Nov 4, 2025

EPS

$0.60

Est $0.58

+3.4%

Revenue

$145M

Est $146M

-0.5%

Q3 2025

Aug 4, 2025

EPS

$0.58

Est $0.56

+3.6%

Revenue

$141M

Est $139M

+1.3%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 30, 2026	$0.59vs $0.24+145.8%	$144Mvs $143M+0.4%
Q1 2026	Feb 24, 2026	$0.63vs $0.26+145.6%	$151Mvs $143M+5.5%
Q4 2025	Nov 4, 2025	$0.60vs $0.58+3.4%	$145Mvs $146M-0.5%
Q3 2025	Aug 4, 2025	$0.58vs $0.56+3.6%	$141Mvs $139M+1.3%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
SPGSimon Property Group, Inc.Direct Competitor	65.79B	202.31	14.31	6.72%	72.51%	68.82%		4.47
MACThe Macerich CompanyDirect Competitor	5.51B	21.49	-27.55	10.43%	-19.44%
CBLCBL & Associates Properties, Inc.Direct Competitor	1.35B	43.78	10.09	12.18%	23.51%	42.94%	5.3%	5.95
ORealty Income CorporationProduct Competitor	59.37B	63.57	54.33	9.07%	18.41%	2.64%	6.73%
NNNNNN REIT, Inc.Product Competitor	8.45B	44.41	21.45	6.55%	41.38%	8.81%	7.9%	1.09
KIMKimco Realty CorporationProduct Competitor	15.88B	23.54	28.36	5.06%	28.51%	5.81%	4.87%	0.82
REGRegency Centers CorporationProduct Competitor	14.44B	78.89	27.98	3.39%	37.4%	9%	2.73%	0.83
BRXBrixmor Property Group Inc.Product Competitor	9.24B	30.12	24.10	6.73%	31.99%	14.85%	7.05%	1.95

Compare SKT vs Peers

Tanger Inc. (SKT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SPG

Most directly comparable listed peer for SKT.

Scale Benchmark

vs AMT

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

Peer Set

Compare Top 5

vs SPG, MAC, CBL, O

SKT Income Statement

Tanger Inc. (SKT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Revenue	488.23M	494.68M	486.19M	389.99M	426.52M	442.61M	464.41M	526.06M	581.56M
Revenue Growth %	4.81%	1.32%	-1.72%	-19.79%	9.37%	3.77%	4.92%	13.28%	10.55%
Property Operating Expenses	155.24M	160.46M	131.71M	137.13M	140.74M	143.94M	145.55M	158.73M	478.45M
Net Operating Income (NOI)	333M▲ 0%	334.22M▲ 0.4%	354.48M▲ 6.1%	252.86M▼ 28.7%	285.79M▲ 13.0%	298.68M▲ 4.5%	318.86M▲ 6.8%	367.33M▲ 15.2%	103.11M▼ 71.9%
NOI Margin %	68.2%	67.56%	72.91%	64.84%	67%	67.48%	68.66%	69.83%	17.73%
Operating Expenses	171.75M	175.89M	75.44M	252.86M	175.82M	183.44M	185.02M	216.71M	-72.25M
G&A Expenses	73.05M	71.23M	75.44M	47.73M	65.82M	71.53M	76.13M	78.02M	78.72M
EBITDA	487.71M	429.86M	390.08M	142.27M	219.97M	227.15M	242.73M	289.31M	326.34M
EBITDA Margin %	99.89%	86.9%	80.23%	36.48%	51.57%	51.32%	52.27%	55%	56.11%
Depreciation & Amortization	326.98M	336.35M	111.05M	117.14M	110.01M	111.9M	108.89M	138.69M	150.98M
D&A / Revenue %	66.97%	67.99%	22.84%	30.04%	25.79%	25.28%	23.45%	26.36%	25.96%
Operating Income	160.72M▲ 0%	93.51M▼ 41.8%	279.03M▲ 198.4%	0▼ 100.0%	109.96M▲ 0%	115.24M▲ 4.8%	133.84M▲ 16.1%	150.62M▲ 12.5%	175.36M▲ 16.4%
Operating Margin %	32.92%	18.9%	57.39%	0%	25.78%	26.04%	28.82%	28.63%	30.15%
Interest Expense	64.83M	64.82M	61.67M	63.14M	52.87M	46.97M	47.93M	60.64M	65.86M
Interest Coverage	2.11x	1.70x	2.52x	0.40x	1.18x	2.83x	3.17x	2.69x	2.81x
Non-Operating Income	24.02M	47.95M	123.31M	-25.13M	47.54M	-17.56M	-17.97M	-12.77M	-10M
Pretax Income	71.88M▲ 0%	45.56M▼ 36.6%	92.73M▲ 103.5%	-38.01M▼ 141.0%	9.56M▲ 125.1%	85.83M▲ 798.0%	103.88M▲ 21.0%	102.76M▼ 1.1%	119.5M▲ 16.3%
Pretax Margin %	14.72%	9.21%	19.07%	-9.75%	2.24%	19.39%	22.37%	19.53%	20.55%
Income Tax	0	51.65M	0	0	0	0	0	0	0
Effective Tax Rate %	0%	113.35%	0%	0%	0%	0%	0%	0%	0%
Net Income	68M▲ 0%	-6.08M▼ 108.9%	87.86M▲ 1544.0%	-36.28M▼ 141.3%	9.12M▲ 125.1%	82.06M▲ 800.0%	99.15M▲ 20.8%	98.59M▼ 0.6%	114.78M▲ 16.4%
Net Margin %	13.93%	-1.23%	18.07%	-9.3%	2.14%	18.54%	21.35%	18.74%	19.74%
Net Income Growth %	-64.9%	-108.95%	1544.03%	-141.29%	125.13%	800.01%	20.82%	-0.56%	16.41%
Funds From Operations (FFO)	394.99M▲ 0%	330.26M▼ 16.4%	198.9M▼ 39.8%	80.86M▼ 59.3%	119.13M▲ 47.3%	193.97M▲ 62.8%	208.04M▲ 7.3%	237.28M▲ 14.1%	265.75M▲ 12.0%
FFO Margin %	80.9%	66.76%	40.91%	20.74%	27.93%	43.82%	44.8%	45.11%	45.7%
FFO Growth %	-22.29%	-16.39%	-39.77%	-59.34%	47.31%	62.83%	7.26%	14.06%	12%
FFO per Share	4.18	3.54	2.14	0.87	1.17	1.84	1.95	2.14	2.32
FFO Payout Ratio %	32.95%	39.74%	66.7%	82.31%	60.8%	43.42%	49.88%	50.67%	49.75%
EPS (Diluted)	0.71▲ 0%	-0.07▼ 109.2%	0.23▲ 452.8%	-1.10▼ 578.3%	0.08▲ 107.4%	0.77▲ 844.8%	0.92▲ 19.5%	0.88▼ 4.3%	1.00▲ 13.6%
EPS Growth %	-64.68%	-109.18%	452.76%	-578.26%	107.41%	844.79%	19.48%	-4.35%	13.64%
EPS (Basic)	0.71	-0.07	0.23	-1.10	0.08	0.78	0.94	0.89	1.02
Diluted Shares Outstanding	94.52M	93.31M	92.81M	92.62M	101.98M	105.64M	106.53M	111.08M	114.57M

SKT Balance Sheet

Tanger Inc. (SKT) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Assets	2.54B	2.38B	2.29B	2.19B	2.16B	2.22B	2.32B	2.38B	2.66B
Asset Growth %	0.55%	-6.11%	-4.18%	-4.19%	-1.47%	2.79%	4.8%	2.46%	11.54%
Real Estate & Other Assets	-2.46B	-2.3B	2.08B	1.93B	1.85B	1.83B	2.16B	2.21B	2.44B
PP&E (Net)	2.19B	2.06B	86.58M	81.5M	79.81M	78.64M	77.4M	76.1M	83.5M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets	102.11M	107.19M	16.67M	84.83M	161.25M	264.57M	21.96M	46.99M	53.53M
Cash & Equivalents	6.1M	9.08M	16.67M	84.83M	161.25M	212.12M	12.78M	46.99M	18.13M
Receivables	0	0	0	0	0	0	0	0	0
Other Current Assets	0	0	-103.62M	-105.28M	-104.58M	0	0	0	35.4M
Intangible Assets	50.17M	29.28M	11.27M	-3.91M	-16.52M	-30.53M	-7.66M	-16.53M	15.26M
Total Liabilities	1.93B	1.88B	1.83B	1.83B	1.66B	1.7B	1.73B	1.7B	1.92B
Total Debt	1.76B	1.71B	1.66B	1.66B	1.49B	1.52B	1.53B	1.51B	1.69B
Net Debt	1.76B	1.7B	1.64B	1.57B	1.32B	1.3B	1.51B	1.46B	1.67B
Long-Term Debt	1.7B	1.71B	1.57B	1.57B	1.4B	1.43B	1.43B	1.42B	1.55B
Short-Term Borrowings	0	0	0	0	0	0	13M	0	44M
Capital Lease Obligations	0	0	91.24M	90.11M	88.87M	87.53M	86.08M	84.5M	91.57M
Total Current Liabilities	296.58M	224.66M	79.56M	88.25M	93M	104.74M	131.5M	107.78M	177.06M
Accounts Payable	90.42M	82.68M	0	0	0	0	0	0	0
Deferred Revenue	-1.93B	-1.88B	0	0	0	0	0	0	0
Other Liabilities	-69.24M	-54.84M	88.53M	84.4M	78.65M	82.97M	89.02M	85.48M	99.42M
Total Equity	612.3M▲ 0%	505.54M▼ 17.4%	456.11M▼ 9.8%	358.88M▼ 21.3%	499.79M▲ 39.3%	513.93M▲ 2.8%	591.31M▲ 15.1%	679.67M▲ 14.9%	735.1M▲ 8.2%
Equity Growth %	-13.2%	-17.44%	-9.78%	-21.32%	39.26%	2.83%	15.06%	14.94%	8.16%
Shareholders Equity	581.58M	480.18M	433.21M	341.39M	477.93M	491.64M	566.78M	652.37M	706.48M
Minority Interest	30.72M	25.36M	22.9M	17.49M	21.86M	22.29M	24.53M	27.3M	28.62M
Common Stock	946K	939K	929K	936K	1.04M	1.04M	1.09M	1.13M	1.15M
Additional Paid-in Capital	784.78M	778.85M	775.03M	787.14M	978.05M	987.19M	1.08B	1.19B	1.26B
Retained Earnings	-184.87M	-272.45M	-317.26M	-420.1M	-483.41M	-485.56M	-490.17M	-511.82M	-529.24M
Preferred Stock	285K	0	0	0	0	0	0	0	0
Return on Assets (ROA)	2.68%	-0.25%	3.76%	-1.62%	0.42%	3.75%	4.37%	4.19%	4.56%
Return on Equity (ROE)	10.32%	-1.09%	18.27%	-8.9%	2.12%	16.19%	17.94%	15.51%	16.23%
Debt / Assets	69.43%	71.82%	72.69%	75.72%	68.88%	68.36%	65.63%	63.34%	63.57%
Debt / Equity	2.88x	3.39x	3.64x	4.62x	2.97x	2.95x	2.58x	2.22x	2.30x
Net Debt / EBITDA	3.60x	3.96x	4.22x	11.06x	6.02x	5.74x	6.23x	5.05x	5.12x
Book Value per Share	6.48	5.42	4.91	3.87	4.90	4.87	5.55	6.12	6.42

SKT Cash Flow Statement

Tanger Inc. (SKT) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	253.16M	258.32M	220.45M	164.75M	217.72M	213.96M	229.61M	264.44M	298.59M
Operating CF Growth %	5.78%	2.04%	-14.66%	-25.27%	32.15%	-1.73%	7.31%	15.17%	12.91%
Operating CF / Revenue %	51.85%	52.22%	45.34%	42.24%	51.04%	48.34%	49.44%	50.27%	51.34%
Net Income	71.88M	45.56M	92.73M	-38.01M	9.56M	85.83M	103.88M	97.67M	119.5M
Depreciation & Amortization	127.74M	131.72M	123.31M	117.14M	110.01M	111.9M	108.89M	138.69M	150.98M
Stock-Based Compensation	13.59M	14.67M	18.12M	12.52M	12.75M	12.97M	12.51M	0	12.73M
Other Non-Cash Items	922K	56.96M	801K	10.16M	10.36M	1.51M	7.43M	23.08M	7.74M
Working Capital Changes	1.59M	9.4M	-8.45M	-4.32M	19.84M	1.75M	-3.1M	5M	7.64M
Cash from Investing	-117.55M	-40.02M	99.29M	-18.77M	-22.74M	-98.82M	-409.56M	-181.69M	-266.76M
Acquisitions (Net)	33.32M	-1.92M	-2.32M	-10.6M	-7M	-313K	-2.58M	80K	0
Purchase of Investments	-116.67M	-10.78M	-11.18M	-13.03M	-9.44M	-52.45M	-7.68M	-76.13M	0
Sale of Investments	0	0	51.35M	41.04M	55.36M	47.35M	50.94M	9.19M	0
Other Investing	-150.87M	-38.11M	101.61M	-8.17M	-15.74M	-46.05M	-450.24M	-4.02M	-266.76M
Cash from Financing	-141.68M	-215.2M	-312.13M	-77.59M	-118.38M	-64.16M	-19.28M	-48.41M	-25.62M
Dividends Paid	-130.17M	-131.24M	-132.66M	-66.56M	-72.42M	-84.21M	-103.77M	-120.24M	-132.2M
Common Dividends	-130.17M	-131.24M	-132.66M	-66.56M	-72.42M	-84.21M	-103.77M	0	0
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	1000K
Share Repurchases	-49.36M	-20M	-20M	-736K	0	-3.92M	0	0	0
Other Financing	1.13M	-7.68M	-11M	-6.73M	-60.08M	-4.88M	-12.18M	-18.29M	-14.63M
Net Change in Cash	-6.12M▲ 0%	2.98M▲ 148.7%	7.59M▲ 154.5%	68.16M▲ 798.1%	76.42M▲ 12.1%	50.87M▼ 33.4%	-199.35M▼ 491.9%	34.21M▲ 117.2%	6.54M▼ 80.9%
Exchange Rate Effect	-56K	-110K	-19K	-223K	-177K	-111K	-115K	-122K	326K
Cash at Beginning	12.22M	6.1M	9.08M	16.67M	84.83M	161.25M	212.12M	12.78M	46.99M
Cash at End	6.1M	9.08M	16.67M	84.83M	161.25M	212.12M	12.78M	46.99M	53.53M
Free Cash Flow	188.8M▲ 0%	201.6M▲ 6.8%	180.28M▼ 10.6%	136.74M▼ 24.1%	171.8M▲ 25.6%	166.6M▼ 3.0%	218.84M▲ 31.3%	156.4M▼ 28.5%	202.56M▲ 29.5%
FCF Growth %	4.55%	6.78%	-10.58%	-24.15%	25.64%	-3.02%	31.35%	-28.53%	29.51%
FCF / Revenue %	38.67%	40.75%	37.08%	35.06%	40.28%	37.64%	47.12%	29.73%	34.83%

SKT Key Ratios

Tanger Inc. (SKT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	5.33	4.18	3.54	2.14	0.87	1.17	1.84	1.95	2.14	2.32
FFO Payout Ratio	27.76%	32.95%	39.74%	66.7%	82.31%	60.8%	43.42%	49.88%	50.67%	49.75%
NOI Margin	67.37%	68.2%	67.56%	72.91%	64.84%	67%	67.48%	68.66%	69.83%	17.73%
Net Debt / EBITDA	3.60x	3.60x	3.96x	4.22x	11.06x	6.02x	5.74x	6.23x	5.05x	5.12x
Debt / Assets	66.81%	69.43%	71.82%	72.69%	75.72%	68.88%	68.36%	65.63%	63.34%	63.57%
Interest Coverage	4.37x	2.11x	1.70x	2.52x	0.40x	1.18x	2.83x	3.17x	2.69x	2.81x
Book Value / Share	7.4	6.48	5.42	4.91	3.87	4.9	4.87	5.55	6.12	6.42
Revenue Growth	6.02%	4.81%	1.32%	-1.72%	-19.79%	9.37%	3.77%	4.92%	13.28%	10.55%

SKT SEC Filings & Documents

Tanger Inc. (SKT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 30, 2026·SEC

Material company update

Feb 27, 2026·SEC

Material company update

Feb 24, 2026·SEC

10-K Annual Reports

FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 2, 2025·SEC

SKT Frequently Asked Questions

Tanger Inc. (SKT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Tanger Inc. (SKT) reported $581.6M in revenue for fiscal year 2025. This represents a 670% increase from $75.5M in 1996.

Tanger Inc. (SKT) grew revenue by 10.5% over the past year. This is steady growth.

Yes, Tanger Inc. (SKT) is profitable, generating $114.8M in net income for fiscal year 2025 (19.7% net margin).

Dividend & Returns

Yes, Tanger Inc. (SKT) pays a dividend with a yield of 3.19%. This makes it attractive for income-focused investors.

Tanger Inc. (SKT) has a return on equity (ROE) of 16.2%. This is reasonable for most industries.

Industry Metrics

Tanger Inc. (SKT) generated Funds From Operations (FFO) of $265.8M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Tanger Inc. (SKT) offers a 3.19% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More SKT

Tanger Inc. (SKT) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

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Tanger Inc.(SKT)Earnings, Financials & Key Ratios

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