Federal Realty Investment Trust (FRT) Financial Ratios
30 years of historical data (1996–2025) · Real Estate · REIT - Retail
EV/EBITDA
↓
18.52
+6% vs avg
5yr avg: 17.53
30Y Low8.7·High42.1
P/FCF
↓
31.42
↓-69% vs avg
5yr avg: 102.44
30Y Low10.1·High185.1
P/B Ratio
↓
2.95
+5% 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 25.1x earnings, 18% below its 5-year average of 30.8x, sitting at the 27th 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 31.4x P/FCF, 69% 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 | $10.4B | $8.7B | $9.4B | $8.4B | $8.1B | $10.5B | $6.4B | $9.6B | $8.7B | $9.6B | $10.1B |
| Enterprise Value | $15.3B | $13.6B | $13.8B | $12.8B | $12.5B | $14.6B | $10.1B | $13.0B | $11.8B | $12.9B | $12.9B |
| P/E Ratio → | 25.13 | 21.04 | 32.73 | 36.80 | 21.45 | 41.82 | 52.54 | 27.92 | 37.12 | 33.45 | 40.60 |
| P/S Ratio | 8.13 | 6.77 | 7.78 | 7.40 | 7.57 | 11.09 | 7.69 | 10.29 | 9.45 | 11.19 | 12.60 |
| P/B Ratio | 2.95 | 2.47 | 2.73 | 2.60 | 2.53 | 3.67 | 2.39 | 3.47 | 3.32 | 3.79 | 4.55 |
| P/FCF | 31.42 | 26.14 | 28.54 | 34.24 | 81.29 | 342.01 | — | 185.06 | 58.29 | — | — |
| P/OCF | 16.71 | 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 18.5x EBITDA, 6% above its 5-year average of 17.5x. The Real Estate sector median is 17.0x, placing the stock at a 9% 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 | 18.52 | 16.41 | 16.92 | 17.60 | 15.11 | 21.60 | 18.48 | 18.29 | 19.50 | 20.60 | 25.01 |
| EV / EBIT | 33.34 | 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 24.8%. 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 3.8% to shareholders annually — split between a 3.8% 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 4.0% (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 | 3.8% | 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 | 4.0% | 4.8% | 3.1% | 2.7% | 4.7% | 2.4% | 1.9% | 3.6% | 2.7% | 3.0% | 2.5% |
| FCF Yield | 3.2% | 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 | 3.8% | 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 | 25.1 | 18.5 | 31.4 | 9.7% | 35.9% | 11.9% | 4.2% | 6.1 |
 REG | $14B | 27.3 | 20.3 | 35.7 | 44.7% | 37.0% | 7.5% | 3.5% | 6.1 |
 KIM | $16B | 29.4 | 18.1 | 21.3 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 AKR | $3B | 222.4 | 22.5 | 16.6 | 50.5% | 12.0% | 0.5% | 0.9% | 9.3 |
 SPG | $69B | 14.9 | 20.8 | 19.3 | 85.7% | 49.9% | 89.6% | 7.7% | 6.3 |
 MAC | $6B | -30.7 | 21.2 | 19.1 | 38.2% | 16.5% | -7.3% | 1.6% | 9.8 |
 BRX | $9B | 24.7 | 16.3 | 14.5 | 75.2% | 36.7% | 12.9% | 4.6% | 6.4 |
 SITC | $250M | 1.4 | 4.8 | 12.8 | -5.7% | -1.3% | 41.8% | -0.2% | 1.7 |
 SKT | $4B | 39.1 | 18.8 | 22.1 | 17.7% | 30.2% | 16.2% | 5.8% | 5.2 |
 TGT | $59B | 16.1 | 9.3 | 20.9 | 25.4% | 4.6% | 24.0% | 12.0% | 2.5 |
 KR | $35B | 36.8 | 9.7 | 10.4 | 23.3% | 1.3% | 14.3% | 5.0% | 4.2 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into FRT consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
FRT — 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 25.1x. The historical average is 33.7x. This places it at the 27th percentile of its historical range.
What is Federal Realty Investment Trust's EV/EBITDA?
Federal Realty Investment Trust's current EV/EBITDA is 18.5x. 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 25.1x. This is at the 27th 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 3.75% 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.