Federal Realty Investment Trust (FRT) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Retail
EV/EBITDA
↓
17.99
+3% vs avg
5yr avg: 17.53
30Y Low8.7·High42.1
P/FCF
↓
30.09
↓-71% vs avg
5yr avg: 102.44
30Y Low10.1·High185.1
P/B Ratio
↓
2.83
+1% vs avg
5yr avg: 2.80
30Y Low1.5·High5.7
ROE
↑
11.9%
↓+18% vs avg
5yr avg: 10.0%
30Y Low5%·High20%
Debt/EBITDA
↓
6.08
+2% vs avg
5yr avg: 5.94
30Y Low3.0·High17.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FRT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Federal Realty Investment Trust trades at 24.1x earnings, 22% below its 5-year average of 30.8x, sitting at the 23rd percentile of its historical range. This is roughly in line with the Real Estate sector median P/E of 24.1x. On a free-cash-flow basis, the stock trades at 30.1x P/FCF, 71% below the 5-year average of 102.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.0B | $8.7B | $9.4B | $8.4B | $8.1B | $10.5B | $6.4B | $9.6B | $8.7B | $9.6B | $10.1B |
| Enterprise Value | $14.9B | $13.6B | $13.8B | $12.8B | $12.5B | $14.6B | $10.1B | $13.0B | $11.8B | $12.9B | $12.9B |
| P/E Ratio → | 24.07 | 21.04 | 32.73 | 36.80 | 21.45 | 41.82 | 52.54 | 27.92 | 37.12 | 33.45 | 40.60 |
| P/S Ratio | 7.79 | 6.77 | 7.78 | 7.40 | 7.57 | 11.09 | 7.69 | 10.29 | 9.45 | 11.19 | 12.60 |
| P/B Ratio | 2.83 | 2.47 | 2.73 | 2.60 | 2.53 | 3.67 | 2.39 | 3.47 | 3.32 | 3.79 | 4.55 |
| P/FCF | 30.09 | 26.14 | 28.54 | 34.24 | 81.29 | 342.01 | — | 185.06 | 58.29 | — | — |
| P/OCF | 16.00 | 13.90 | 16.28 | 15.08 | 15.74 | 22.38 | 17.38 | 20.84 | 16.75 | 20.89 | 24.08 |
P/E links to full P/E history page with 30-year chart
FRT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Federal Realty Investment Trust's enterprise value stands at 18.0x EBITDA, roughly in line with its 5-year average of 17.5x. The Real Estate sector median is 16.7x, placing the stock at a 8% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.62 | 11.47 | 11.32 | 11.66 | 15.32 | 12.05 | 13.89 | 12.91 | 15.05 | 16.06 |
| EV / EBITDA | 17.99 | 16.41 | 16.92 | 17.60 | 15.11 | 21.60 | 18.48 | 18.29 | 19.50 | 20.60 | 25.01 |
| EV / EBIT | 32.38 | 22.45 | 28.75 | 30.88 | 23.51 | 36.74 | 36.98 | 27.65 | 32.90 | 32.42 | 40.05 |
| EV / FCF | — | 41.01 | 42.08 | 52.37 | 125.15 | 472.69 | — | 249.95 | 79.62 | — | — |
FRT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Federal Realty Investment Trust earns an operating margin of 35.9%, above the Real Estate sector average of 26.0%. ROE of 11.9% is modest. ROIC of 4.2% represents below-average returns on invested capital.
Margins
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 | 9.7% | 9.7% | 67.4% | 67.9% | 66.8% | 66.7% | 65.3% | 68.1% | 68.6% | 68.2% | 68.4% |
| Operating Margin | 35.9% | 35.9% | 39.3% | 35.9% | 49.0% | 41.5% | 34.7% | 50.3% | 39.5% | 47.8% | 40.0% |
| Net Profit Margin | 32.1% | 32.1% | 24.6% | 20.9% | 35.9% | 27.5% | 15.8% | 37.8% | 26.4% | 33.8% | 31.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.9% | 11.9% | 8.9% | 7.4% | 12.7% | 9.4% | 4.8% | 13.2% | 9.4% | 12.2% | 12.1% |
| ROA | 4.7% | 4.7% | 3.5% | 2.8% | 4.9% | 3.4% | 1.8% | 5.4% | 3.9% | 5.0% | 4.8% |
| ROIC | 4.2% | 4.2% | 4.6% | 4.0% | 5.4% | 4.5% | 3.5% | 5.9% | 4.7% | 5.7% | 5.0% |
| ROCE | 5.4% | 5.4% | 5.8% | 5.1% | 6.9% | 5.4% | 4.2% | 7.6% | 6.0% | 7.4% | 6.5% |
FRT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Federal Realty Investment Trust carries a Debt/EBITDA ratio of 6.1x, which is highly leveraged (23% below the sector average of 7.9x). Net debt stands at $4.9B ($5.0B total debt minus $107M cash). Interest coverage of 3.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.44 | 1.44 | 1.33 | 1.45 | 1.39 | 1.46 | 1.65 | 1.26 | 1.24 | 1.31 | 1.26 |
| Debt / EBITDA | 6.08 | 6.08 | 5.60 | 6.44 | 5.40 | 6.21 | 8.15 | 4.93 | 5.33 | 5.31 | 5.44 |
| Net Debt / Equity | — | 1.41 | 1.30 | 1.38 | 1.37 | 1.40 | 1.35 | 1.22 | 1.22 | 1.31 | 1.25 |
| Net Debt / EBITDA | 5.95 | 5.95 | 5.45 | 6.09 | 5.30 | 5.97 | 6.68 | 4.75 | 5.22 | 5.29 | 5.39 |
| Debt / FCF | — | 14.86 | 13.54 | 18.13 | 43.86 | 130.69 | — | 64.89 | 21.32 | — | — |
| Interest Coverage | 3.34 | 3.34 | 2.73 | 2.47 | 3.89 | 3.11 | 2.00 | 4.29 | 3.26 | 3.97 | 3.38 |
FRT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.02x means Federal Realty Investment Trust can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.55x to 1.02x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.02 | 1.02 | 1.16 | 1.55 | 0.95 | 0.98 | 3.00 | 0.87 | 0.86 | 0.88 | 0.59 |
| Quick Ratio | 1.02 | 1.02 | 1.16 | 1.55 | 0.95 | 0.98 | 3.00 | 0.87 | 0.86 | 0.88 | 0.59 |
| Cash Ratio | 0.31 | 0.31 | 0.40 | 0.84 | 0.28 | 0.47 | 2.40 | 0.36 | 0.23 | 0.05 | 0.08 |
| Asset Turnover | — | 0.14 | 0.14 | 0.13 | 0.13 | 0.12 | 0.11 | 0.14 | 0.15 | 0.14 | 0.15 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FRT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Federal Realty Investment Trust returns 4.0% to shareholders annually — split between a 3.9% dividend yield and 0.0% buyback yield. The payout ratio of 94.4% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 4.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 3.9% | 4.5% | 4.0% | 4.3% | 4.3% | 3.2% | 5.0% | 3.3% | 3.5% | 2.9% | 2.7% |
| Payout Ratio | 94.4% | 94.4% | 125.9% | 151.6% | 90.1% | 128.4% | 246.5% | 88.6% | 124.5% | 97.6% | 107.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 4.8% | 3.1% | 2.7% | 4.7% | 2.4% | 1.9% | 3.6% | 2.7% | 3.0% | 2.5% |
| FCF Yield | 3.3% | 3.8% | 3.5% | 2.9% | 1.2% | 0.3% | — | 0.5% | 1.7% | — | — |
| Buyback Yield | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.0% | 4.5% | 4.0% | 4.3% | 4.3% | 3.2% | 5.1% | 3.3% | 3.5% | 3.0% | 2.7% |
| Shares Outstanding | — | $86M | $84M | $81M | $81M | $77M | $76M | $75M | $73M | $72M | $71M |
Peer Comparison
Compare FRT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FRTYou | $10B | 24.1 | 18.0 | 30.1 | 9.7% | 35.9% | 11.9% | 4.2% | 6.1 |
 REG | $14B | 28.0 | 20.7 | 36.7 | 44.7% | 37.0% | 7.5% | 3.5% | 6.1 |
 KIM | $16B | 28.4 | 17.7 | 20.6 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 AKR | $3B | 231.5 | 23.0 | 17.3 | 50.5% | 12.0% | 0.5% | 0.9% | 9.3 |
 SPG | $66B | 14.3 | 20.4 | — | 85.7% | 49.9% | 89.6% | 7.6% | 6.4 |
 MAC | $6B | -27.6 | 5.2 | — | 95.4% | 67.8% | — | 20.9% | — |
 BRX | $9B | 24.1 | 16.1 | 14.2 | 75.2% | 36.7% | 12.9% | 4.6% | 6.4 |
 SITC | $294M | 1.7 | 0.8 | 15.0 | — | 171.7% | 41.8% | 27.2% | — |
 SKT | $4B | 36.2 | 17.8 | 20.5 | 17.7% | 30.2% | 16.2% | 5.8% | 5.2 |
 TGT | $59B | 15.8 | 7.4 | 20.7 | 27.9% | 4.9% | 24.0% | 16.7% | 0.7 |
 KR | $42B | 43.5 | 11.0 | 12.6 | 21.0% | 1.3% | 14.3% | 5.0% | 4.2 |
| Real Estate Median | — | 24.1 | 16.7 | 15.4 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonFRT — Frequently Asked Questions
Quick answers to the most common questions about buying FRT stock.
What is Federal Realty Investment Trust's P/E ratio?
Federal Realty Investment Trust's current P/E ratio is 24.1x. The historical average is 33.7x. This places it at the 23th percentile of its historical range.
What is Federal Realty Investment Trust's EV/EBITDA?
Federal Realty Investment Trust's current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.1x.
What is Federal Realty Investment Trust's ROE?
Federal Realty Investment Trust's return on equity (ROE) is 11.9%. The historical average is 11.0%.
Is FRT stock overvalued?
Based on historical data, Federal Realty Investment Trust is trading at a P/E of 24.1x. This is at the 23th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Federal Realty Investment Trust's dividend yield?
Federal Realty Investment Trust's current dividend yield is 3.92% with a payout ratio of 94.4%.
What are Federal Realty Investment Trust's profit margins?
Federal Realty Investment Trust has 9.7% gross margin and 35.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Federal Realty Investment Trust have?
Federal Realty Investment Trust's Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.