30 years of historical data (1996–2025) · Real Estate · REIT - Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Federal Realty Investment Trust trades at 22.7x earnings, 26% below its 5-year average of 30.8x, sitting at the 20th percentile of its historical range. This is roughly in line with the Real Estate sector median P/E of 23.4x. On a free-cash-flow basis, the stock trades at 15.1x P/FCF, 85% below the 5-year average of 100.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.4B | $8.7B | $9.4B | $8.4B | $8.1B | $10.5B | $6.4B | $9.6B | $8.7B | $9.6B | $10.1B |
| Enterprise Value | $10.4B | $9.7B | $13.8B | $12.8B | $12.5B | $14.6B | $10.1B | $13.0B | $11.8B | $12.9B | $12.9B |
| P/E Ratio → | 22.71 | 21.04 | 32.73 | 36.80 | 21.45 | 41.82 | 52.54 | 27.92 | 37.12 | 33.45 | 40.60 |
| P/S Ratio | 7.34 | 6.77 | 7.78 | 7.40 | 7.57 | 11.09 | 7.69 | 10.29 | 9.45 | 11.19 | 12.60 |
| P/B Ratio | 2.72 | 2.52 | 2.73 | 2.60 | 2.53 | 3.67 | 2.39 | 3.47 | 3.32 | 3.79 | 4.55 |
| P/FCF | 15.08 | 13.90 | 28.54 | 34.24 | 81.29 | 342.01 | — | 185.06 | 58.29 | — | — |
| P/OCF | 15.08 | 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
Enterprise-value multiples — capital-structure-neutral measures of total business value
Federal Realty Investment Trust's enterprise value stands at 10.7x EBITDA, 34% below its 5-year average of 16.2x. The Real Estate sector median is 13.6x, placing the stock at a 21% discount 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 | — | 7.58 | 11.47 | 11.32 | 11.66 | 15.32 | 12.05 | 13.89 | 12.91 | 15.05 | 16.06 |
| EV / EBITDA | 10.74 | 9.99 | 16.92 | 17.60 | 15.11 | 21.60 | 18.48 | 18.29 | 19.50 | 20.60 | 25.01 |
| EV / EBIT | 17.30 | — | 28.75 | 30.88 | 23.51 | 36.74 | 36.98 | 27.65 | 32.90 | 32.42 | 40.05 |
| EV / FCF | — | 15.57 | 42.08 | 52.37 | 125.15 | 472.69 | — | 249.95 | 79.62 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Federal Realty Investment Trust earns an operating margin of 47.1%, significantly above the Real Estate sector average of 22.0%. Operating margins have expanded from 35.9% to 47.1% over the past 3 years, signaling improving operational efficiency. ROE of 12.0% is modest. ROIC of 7.3% represents adequate returns on invested capital.
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 | 67.2% | 67.2% | 67.4% | 67.9% | 66.8% | 66.7% | 65.3% | 68.1% | 68.6% | 68.2% | 68.4% |
| Operating Margin | 47.1% | 47.1% | 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% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.0% | 12.0% | 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 | 7.3% | 7.3% | 4.6% | 4.0% | 5.4% | 4.5% | 3.5% | 5.9% | 4.7% | 5.7% | 5.0% |
| ROCE | 7.4% | 7.4% | 5.8% | 5.1% | 6.9% | 5.4% | 4.2% | 7.6% | 6.0% | 7.4% | 6.5% |
Solvency and debt-coverage ratios — lower is generally safer
Federal Realty Investment Trust carries a Debt/EBITDA ratio of 1.2x, which is manageable (82% below the sector average of 6.7x). Net debt stands at $1.0B ($1.1B total debt minus $107M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.33 | 0.33 | 1.33 | 1.45 | 1.39 | 1.46 | 1.65 | 1.26 | 1.24 | 1.31 | 1.26 |
| Debt / EBITDA | 1.18 | 1.18 | 5.60 | 6.44 | 5.40 | 6.21 | 8.15 | 4.93 | 5.33 | 5.31 | 5.44 |
| Net Debt / Equity | — | 0.30 | 1.30 | 1.38 | 1.37 | 1.40 | 1.35 | 1.22 | 1.22 | 1.31 | 1.25 |
| Net Debt / EBITDA | 1.07 | 1.07 | 5.45 | 6.09 | 5.30 | 5.97 | 6.68 | 4.75 | 5.22 | 5.29 | 5.39 |
| Debt / FCF | — | 1.66 | 13.54 | 18.13 | 43.86 | 130.69 | — | 64.89 | 21.32 | — | — |
| Interest Coverage | — | — | 2.69 | 2.42 | 3.84 | 3.09 | 2.12 | 4.30 | 3.28 | 4.10 | 3.38 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.31x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.55x to 0.31x 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 | 0.31 | 0.31 | 1.16 | 1.55 | 0.95 | 0.98 | 3.00 | 0.87 | 0.86 | 0.88 | 0.59 |
| Quick Ratio | 0.31 | 0.31 | 1.16 | 1.55 | 0.95 | 0.98 | 3.00 | 0.87 | 0.86 | 0.88 | 0.59 |
| Cash Ratio | 0.09 | 0.09 | 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 | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Federal Realty Investment Trust returns 4.2% to shareholders annually primarily through dividends. The earnings yield of 4.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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% | 4.5% | 4.0% | 4.3% | 4.3% | 3.2% | 5.0% | 3.3% | 3.5% | 2.9% | 2.7% |
| Payout Ratio | — | — | 125.9% | 151.6% | 90.1% | 128.4% | 246.5% | 88.6% | 124.5% | 97.6% | 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 | 4.4% | 4.8% | 3.1% | 2.7% | 4.7% | 2.4% | 1.9% | 3.6% | 2.7% | 3.0% | 2.5% |
| FCF Yield | 6.6% | 7.2% | 3.5% | 2.9% | 1.2% | 0.3% | — | 0.5% | 1.7% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.1% | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.2% | 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 |
Compare FRT with 2 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| FRTYou | $9B | 22.7 | 10.7 | 15.1 | 67.2% | 47.1% | 12.0% | 7.3% | 1.2 |
| AKR | $3B | 209.2 | 19.0 | 16.4 | 69.9% | 20.5% | 0.7% | 1.5% | 7.9 |
| ALX | $1B | 42.7 | — | 16.3 | — | — | 19.7% | — | — |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonFederal Realty Investment Trust's current P/E ratio is 22.7x. The historical average is 33.7x. This places it at the 20th percentile of its historical range.
Federal Realty Investment Trust's current EV/EBITDA is 10.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.9x.
Federal Realty Investment Trust's return on equity (ROE) is 12.0%. The historical average is 11.0%.
Based on historical data, Federal Realty Investment Trust is trading at a P/E of 22.7x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Federal Realty Investment Trust's current dividend yield is 4.16%.
Federal Realty Investment Trust has 67.2% gross margin and 47.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Federal Realty Investment Trust's Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.