13 years of historical data (2012–2024) · 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
Phillips Edison & Company, Inc. trades at 77.0x earnings, 36% below its 5-year average of 119.9x, sitting at the 100th percentile of its historical range. Compared to the Real Estate sector median P/E of 23.4x, the stock trades at a premium of 230%. On a free-cash-flow basis, the stock trades at 20.6x P/FCF, 7% below the 5-year average of 22.2x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.9B | $5.1B | $4.9B | $4.1B | $3.9B | — | — | — | — | — | — |
| Enterprise Value | $7.0B | $7.2B | $6.9B | $6.2B | $5.8B | — | — | — | — | — | — |
| P/E Ratio → | 77.02 | 73.45 | 76.00 | 75.81 | 254.15 | — | — | — | — | — | — |
| P/S Ratio | 7.47 | 7.75 | 7.95 | 7.21 | 7.23 | — | — | — | — | — | — |
| P/B Ratio | 2.04 | 1.95 | 1.83 | 1.60 | 1.56 | — | — | — | — | — | — |
| P/FCF | 20.61 | 21.39 | 24.79 | 22.26 | 20.52 | — | — | — | — | — | — |
| P/OCF | 14.75 | 15.31 | 16.67 | 14.27 | 14.66 | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Phillips Edison & Company, Inc.'s enterprise value stands at 10.6x EBITDA, roughly in line with its 5-year average of 10.8x. The Real Estate sector median is 13.6x, placing the stock at a 22% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.94 | 11.35 | 10.69 | 10.81 | — | — | — | — | — | — |
| EV / EBITDA | 10.61 | 10.90 | 11.23 | 10.39 | 10.60 | — | — | — | — | — | — |
| EV / EBIT | 16.56 | 41.95 | 44.90 | 47.06 | 55.24 | — | — | — | — | — | — |
| EV / FCF | — | 30.19 | 35.38 | 33.00 | 30.67 | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Phillips Edison & Company, Inc. earns an operating margin of 64.3%, significantly above the Real Estate sector average of 22.0%. ROE of 2.4% is modest. ROIC of 6.7% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.2% | 71.2% | 71.3% | 71.6% | 70.3% | 69.0% | 70.0% | 69.2% | 68.8% | 69.5% | 67.3% |
| Operating Margin | 64.3% | 64.3% | 64.0% | 63.8% | 61.1% | 60.7% | 60.9% | 57.5% | 49.2% | 55.4% | 60.8% |
| Net Profit Margin | 9.5% | 9.5% | 9.3% | 8.4% | 2.8% | 1.0% | -11.8% | 9.1% | -12.3% | 3.5% | 5.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.4% | 2.4% | 2.2% | 1.9% | 0.7% | 0.2% | -2.8% | 2.0% | -2.8% | 0.7% | 1.0% |
| ROA | 1.3% | 1.3% | 1.2% | 1.0% | 0.3% | 0.1% | -1.3% | 0.9% | -1.3% | 0.4% | 0.6% |
| ROIC | 6.7% | 6.7% | 6.3% | 6.1% | 5.6% | 5.1% | 5.2% | 4.5% | 4.1% | 4.9% | 5.4% |
| ROCE | 9.1% | 9.1% | 8.6% | 8.1% | 7.2% | 6.6% | 6.7% | 5.9% | 5.4% | 6.3% | 6.9% |
Solvency and debt-coverage ratios — lower is generally safer
Phillips Edison & Company, Inc. carries a Debt/EBITDA ratio of 3.2x, which is moderately leveraged (52% below the sector average of 6.7x). Net debt stands at $2.1B ($2.1B total debt minus $5M cash). Interest coverage of 4.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.80 | 0.80 | 0.78 | 0.77 | 0.81 | 1.19 | 1.14 | 1.04 | 1.22 | 0.86 | 0.66 |
| Debt / EBITDA | 3.18 | 3.18 | 3.37 | 3.39 | 3.68 | 4.57 | 4.41 | 5.78 | 6.42 | 4.31 | 3.49 |
| Net Debt / Equity | — | 0.80 | 0.78 | 0.77 | 0.77 | 1.14 | 1.13 | 1.03 | 1.22 | 0.86 | 0.63 |
| Net Debt / EBITDA | 3.18 | 3.18 | 3.36 | 3.38 | 3.51 | 4.37 | 4.37 | 5.74 | 6.40 | 4.28 | 3.32 |
| Debt / FCF | — | 8.80 | 10.59 | 10.73 | 10.15 | 15.62 | 16.17 | 23.92 | — | — | — |
| Interest Coverage | 4.45 | 4.45 | 4.66 | 5.15 | 4.27 | 3.54 | 3.17 | 3.41 | 3.36 | 4.40 | 4.54 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.74x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.55x to 0.74x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.74 | 0.74 | 0.40 | 0.55 | 1.72 | 1.11 | 0.72 | 0.84 | 0.65 | 0.89 | 0.97 |
| Quick Ratio | 0.74 | 0.74 | 0.40 | 0.55 | 1.70 | 1.11 | 0.68 | 0.71 | 0.76 | 1.10 | 1.20 |
| Cash Ratio | 0.02 | 0.02 | 0.04 | 0.06 | 0.84 | 0.54 | 0.13 | 0.13 | 0.04 | 0.15 | 0.83 |
| Asset Turnover | — | 0.13 | 0.13 | 0.12 | 0.11 | 0.11 | 0.11 | 0.08 | 0.09 | 0.11 | 0.11 |
| Inventory Turnover | 101.67 | — | — | — | 101.67 | — | 26.68 | 7.63 | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Phillips Edison & Company, Inc. returns 2.5% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 213.8%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 1.3% (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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 2.6% | 2.8% | 3.1% | 2.8% | — | — | — | — | — | — |
| Payout Ratio | 213.8% | 213.8% | 238.8% | 263.0% | 705.6% | 1033.8% | — | 206.3% | — | 719.5% | 444.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 1.4% | 1.3% | 1.3% | 0.4% | — | — | — | — | — | — |
| FCF Yield | 4.9% | 4.7% | 4.0% | 4.5% | 4.9% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 2.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 2.5% | 2.6% | 2.8% | 3.1% | 4.8% | — | — | — | — | — | — |
| Shares Outstanding | — | $137M | $133M | $130M | $117M | $111M | $109M | $80M | $65M | $62M | $62M |
Compare PECO 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 |
|---|---|---|---|---|---|---|---|---|---|
| PECOYou | $5B | 77.0 | 10.6 | 20.6 | 71.2% | 64.3% | 2.4% | 6.7% | 3.2 |
| KIM | $16B | 42.8 | 19.4 | 23.5 | 68.7% | 30.9% | 4.0% | 2.7% | 7.0 |
| REG | $14B | 37.4 | 14.4 | 18.2 | 71.2% | 64.4% | 5.7% | 6.1% | 3.7 |
| BRX | $9B | 24.2 | 9.9 | 14.2 | 87.0% | 35.2% | 12.9% | 6.8% | — |
| KRG | $5B | 18.9 | 15.3 | 19.6 | 53.3% | 23.1% | 9.0% | 2.3% | 5.9 |
| CURB | $3B | 75.2 | 31.0 | 27.3 | 35.7% | 16.6% | 2.1% | 1.3% | 5.4 |
| IVT | $2B | 22.0 | 18.6 | 15.6 | -14.1% | 17.2% | 6.3% | 1.5% | 5.4 |
| BFS | $835M | 20.9 | 13.7 | 6.9 | 73.2% | 45.1% | 10.1% | 4.7% | 8.9 |
| WSR | $770M | -63.3 | 15.7 | 15.2 | 68.8% | 33.3% | 11.0% | 3.7% | 7.2 |
| SITC | $323M | 1.8 | 0.9 | 16.5 | — | 171.7% | 41.8% | 27.2% | — |
| CDR-PB | $260M | 135.3 | 17.0 | — | 61.4% | 39.5% | 7.0% | 5.3% | 6.4 |
| 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 · 13 years · Updated daily
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Start ComparisonPhillips Edison & Company, Inc.'s current P/E ratio is 77.0x. The historical average is 75.1x. This places it at the 100th percentile of its historical range.
Phillips Edison & Company, Inc.'s current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
Phillips Edison & Company, Inc.'s return on equity (ROE) is 2.4%. The historical average is 0.0%.
Based on historical data, Phillips Edison & Company, Inc. is trading at a P/E of 77.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Phillips Edison & Company, Inc.'s current dividend yield is 2.49% with a payout ratio of 213.8%.
Phillips Edison & Company, Inc. has 71.2% gross margin and 64.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Phillips Edison & Company, Inc.'s Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.