Latest Ratios: P/E Ratio 22.1x · EV/EBITDA 15.2x · ROE 12.9%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.5B | $8.1B | $8.5B | $7.0B | $6.8B | $7.6B | $4.9B | $6.5B | $4.4B | $5.7B | $7.4B |
| Enterprise Value | $14.0B | $13.6B | $13.4B | $12.0B | $11.9B | $12.5B | $9.8B | $11.3B | $9.3B | $11.3B | $13.2B |
| P/E Ratio → | 22.11 | 20.98 | 25.08 | 23.04 | 19.38 | 28.23 | — | 74.52 | 12.14 | 19.04 | 27.13 |
| P/S Ratio | 6.18 | 5.89 | 6.59 | 5.65 | 5.62 | 6.59 | 4.68 | 5.54 | 3.60 | 4.44 | 5.84 |
| P/B Ratio | 2.83 | 2.68 | 2.84 | 2.47 | 2.39 | 2.79 | 1.84 | 2.36 | 0.57 | 0.66 | 2.54 |
| P/FCF | 13.01 | 12.38 | 13.55 | 11.95 | 12.08 | 13.75 | 11.13 | 12.24 | 8.20 | 10.32 | 13.13 |
| P/OCF | 13.01 | 12.38 | 13.55 | 11.95 | 12.08 | 13.75 | 11.13 | 12.24 | 8.20 | 10.32 | 13.13 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.90 | 10.45 | 9.61 | 9.77 | 10.85 | 9.30 | 9.68 | 7.52 | 8.82 | 10.38 |
| EV / EBITDA | 15.24 | 14.79 | 15.77 | 10.23 | 15.08 | 16.70 | 9.86 | 10.44 | 7.52 | 10.71 | 13.09 |
| EV / EBIT | 27.79 | 22.23 | 24.18 | 24.14 | 21.77 | 26.90 | 28.91 | 25.84 | 15.97 | 22.84 | 25.61 |
| EV / FCF | — | 20.83 | 21.49 | 20.33 | 21.01 | 22.65 | 22.11 | 21.39 | 17.14 | 20.50 | 23.33 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.2% | 75.2% | 75.3% | 74.3% | 74.4% | 74.2% | 73.4% | 74.7% | 74.6% | 75.4% | 75.9% |
| Operating Margin | 36.7% | 36.7% | 36.6% | 64.9% | 36.5% | 36.6% | 64.0% | 65.9% | 37.7% | 20.9% | 19.8% |
| Net Profit Margin | 28.2% | 28.2% | 26.4% | 24.5% | 29.1% | 23.4% | 11.5% | 23.5% | 29.7% | 23.4% | 21.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.9% | 12.9% | 11.6% | 10.7% | 12.7% | 10.0% | 4.5% | 5.2% | 4.5% | 5.2% | 9.4% |
| ROA | 4.3% | 4.3% | 3.9% | 3.6% | 4.2% | 3.2% | 1.5% | 3.4% | 4.2% | 3.3% | 2.9% |
| ROIC | 4.6% | 4.6% | 4.5% | 7.7% | 4.3% | 4.2% | 6.7% | 5.7% | 2.6% | 1.8% | 2.2% |
| ROCE | 6.2% | 6.2% | 6.1% | 10.3% | 5.5% | 5.3% | 9.0% | 10.5% | 6.3% | 4.0% | 3.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.95 | 1.95 | 1.79 | 1.73 | 1.77 | 1.92 | 1.95 | 1.77 | 0.63 | 0.66 | 1.99 |
| Debt / EBITDA | 6.39 | 6.39 | 6.27 | 4.22 | 6.43 | 6.96 | 5.27 | 4.49 | 3.96 | 5.37 | 5.77 |
| Net Debt / Equity | — | 1.83 | 1.66 | 1.73 | 1.77 | 1.81 | 1.82 | 1.76 | 0.62 | 0.65 | 1.98 |
| Net Debt / EBITDA | 6.00 | 6.00 | 5.83 | 4.22 | 6.41 | 6.56 | 4.90 | 4.47 | 3.92 | 5.32 | 5.72 |
| Debt / FCF | — | 8.45 | 7.94 | 8.38 | 8.93 | 8.90 | 10.98 | 9.16 | 8.94 | 10.18 | 10.20 |
| Interest Coverage | 2.72 | 2.72 | 2.57 | 2.60 | 2.84 | 2.39 | 1.69 | 2.31 | 2.70 | 2.19 | 2.28 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.10 | 1.10 | 0.63 | 0.43 | 0.74 | 1.44 | 1.70 | 0.25 | 0.60 | 0.17 | 0.11 |
| Quick Ratio | 1.10 | 1.10 | 0.63 | 0.43 | 0.74 | 1.44 | 1.70 | 0.25 | 0.64 | 0.18 | 0.12 |
| Cash Ratio | 0.59 | 0.59 | 0.37 | 0.03 | 0.04 | 0.78 | 1.00 | 0.03 | 0.14 | 0.04 | 0.03 |
| Asset Turnover | — | 0.15 | 0.14 | 0.15 | 0.14 | 0.14 | 0.13 | 0.14 | 0.15 | 0.14 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.2% | 4.4% | 3.9% | 4.5% | 4.2% | 3.4% | 3.5% | 5.2% | 7.5% | 5.6% | 4.0% |
| Payout Ratio | 91.7% | 91.7% | 97.6% | 103.3% | 81.8% | 95.2% | 140.6% | 121.9% | 91.0% | 105.7% | 107.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.8% | 4.0% | 4.3% | 5.2% | 3.5% | — | 1.3% | 8.2% | 5.3% | 3.7% |
| FCF Yield | 7.7% | 8.1% | 7.4% | 8.4% | 8.3% | 7.3% | 9.0% | 8.2% | 12.2% | 9.7% | 7.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.2% | 2.4% | 0.1% | 0.0% |
| Total Shareholder Yield | 4.2% | 4.4% | 3.9% | 4.5% | 4.2% | 3.4% | 4.0% | 5.4% | 9.9% | 5.7% | 4.0% |
| Shares Outstanding | — | $308M | $304M | $302M | $302M | $299M | $298M | $299M | $302M | $305M | $305M |
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Quick answers to the most common questions about buying BRX stock.
Brixmor Property Group Inc.'s current P/E ratio is 22.1x. The historical average is 32.6x. This places it at the 36th percentile of its historical range.
Brixmor Property Group Inc.'s current EV/EBITDA is 15.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Brixmor Property Group Inc.'s return on equity (ROE) is 12.9%. The historical average is 6.0%.
Based on historical data, Brixmor Property Group Inc. is trading at a P/E of 22.1x. This is at the 36th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Brixmor Property Group Inc.'s current dividend yield is 4.16% with a payout ratio of 91.7%.
Brixmor Property Group Inc. has 75.2% gross margin and 36.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Brixmor Property Group Inc.'s Debt/EBITDA ratio is 6.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Elevated leverage in rising rates
Metrics are mathematically derived from official filings.
Discount to Peers Persists
BRX trades at a P/FFO of 9.81x, a notable discount to KIM's 29.1x P/E and REG's 27.1x, suggesting the market still applies a quality gap discount, per SEC filings.
The implied cap rate, derived from NOI and enterprise value, appears higher than private market transactions for grocery-anchored centers, indicating potential undervaluation. However, the discount may reflect perceived secondary-market asset quality and leverage concerns. Investors should monitor whether the record leasing pipeline narrows this gap.
NOI Margin Stable, FFO Volatile
NOI margin held at 75.0% in Q2 2026, consistent with the trailing year, while FFO per share declined 4.1% year-over-year, per financial statements.
The stable NOI margin suggests operational efficiency, but the FFO decline indicates non-operational items or higher interest costs. The Q1 2026 margin anomaly (16.1%) appears to be a data reporting issue, not a fundamental deterioration. Organic growth is supported by record small shop occupancy and a strong signed-not-open pipeline, but the mark-to-market rent recapture phase may be maturing.
Dividend Well Covered by FFO
FFO payout ratio of 51.4% in Q2 2026 indicates a comfortable dividend safety margin, with AFFO covering dividends at 0.72x, as reported in quarterly results.
The payout ratio has remained below 55% over the past year, providing a buffer against potential FFO volatility. AFFO coverage of 0.72x implies retained cash flow for redevelopment and debt reduction. However, the gap between FFO and AFFO suggests high non-cash adjustments, warranting scrutiny of maintenance capex assumptions.
Leverage Elevated, Coverage Adequate
Debt-to-equity of 1.76x in Q2 2026 is above peers like KIM (0.82x) and REG (0.83x), while interest coverage of 2.13x remains adequate, per balance sheet data.
The elevated leverage reflects a debt-heavy capital structure, but interest coverage above 2x suggests earnings sufficiently cover interest expenses. The fixed-rate exposure and maturity profile are not disclosed, but the rising rate environment could pressure FFO if refinancing occurs at higher rates. Investors should monitor the debt maturity schedule and potential hedging strategies.
Occupancy Strength Drives Performance
Record small shop occupancy and a record signed-not-open pipeline indicate strong leasing momentum, with NOI up 3.7% year-over-year, as per CEO commentary.
The portfolio's grocery-anchored focus provides defensive foot traffic, and the high small shop occupancy suggests pricing power in the high-margin segment. Geographic concentration in the Sunbelt and Northeast may expose BRX to regional economic shifts, but the essential retail nature mitigates cyclicality. G&A efficiency appears lean, with operating margin at 36.71%.
P/E Misleads REIT Valuation
Standard P/E of 23.45x is distorted by depreciation, obscuring BRX's true earnings power; P/FFO of 9.81x is the appropriate metric, per financial analysis.
Depreciation is a non-cash charge that understates net income, making P/E appear elevated. For REITs, FFO and AFFO provide a clearer picture of cash-generating ability. Additionally, debt-to-equity using book value can be misleading; debt-to-gross-assets is more relevant. Investors should focus on P/FFO and implied cap rates to assess valuation.