Wheeler Real Estate Investment Trust, Inc. (WHLR) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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WHLR Revenue Growth
Revenue Breakdown (FY 2025)
WHLR's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
WHLR Revenue Analysis (2014–2025)
As of May 6, 2026, Wheeler Real Estate Investment Trust, Inc. (WHLR) generated trailing twelve-month (TTM) revenue of $99.4 million, reflecting moderate decline in growth of -8.8% year-over-year. The most recent quarter (Q4 2025) recorded $25.2 million in revenue, up 5.7% sequentially.
Looking at the longer-term picture, WHLR's 5-year compound annual growth rate (CAGR) stands at +10.5%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $104.6 million in 2024.
Revenue diversification analysis shows WHLR's business is primarily driven by Base Rent (73%), Tenant Reimbursements (26%), and Other Services (2%). With over half of revenue concentrated in Base Rent, the company maintains significant focus in this area while developing other growth vectors.
When compared to Real Estate sector peers including NXRT (-0.7% YoY), PSTL (+25.5% YoY), and MDRR (+6.8% YoY), WHLR has underperformed the peer group in terms of revenue growth. Compare WHLR vs NXRT →
WHLR Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WHLRCurrent | $99M | -8.8% | +10.5% | 36.4% | |
 NXRT | $251M | -0.7% | +4.2% | 11.1% | |
 PSTL | $96M | +25.5% | +31.4% | 35.8% | |
 MDRR | $10M | +6.8% | +2.3% | 5.3% | |
 SQFT | $19M | -5.7% | -8.0% | -2.0% | |
 GIPR | $10M | -2.6% | +41.3% | -52.6% |
WHLR Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $100.4M | -4.0% | $21.4M | 21.4% | $36.5M | 36.4% |
| 2024 | $104.6M | +2.2% | $69.5M | 66.4% | $37.5M | 35.9% |
| 2023 | $102.3M | +33.5% | $67.5M | 65.9% | $29.4M | 28.7% |
| 2022 | $76.6M | +25.0% | $50.9M | 66.4% | $24.6M | 32.1% |
| 2021 | $61.3M | +0.8% | $41.7M | 68.0% | $19.5M | 31.8% |
| 2020 | $60.8M | -3.5% | $41.9M | 69.0% | $18.4M | 30.3% |
| 2019 | $63.0M | -4.2% | $43.9M | 69.7% | $10.9M | 17.2% |
| 2018 | $65.8M | +12.4% | $20.2M | 30.7% | $14.2M | 21.5% |
| 2017 | $58.5M | +32.6% | $16.9M | 28.9% | $2.6M | 4.4% |
| 2016 | $44.2M | +67.4% | $11.6M | 26.3% | $5.0M | 11.3% |
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Start ComparisonWHLR — Frequently Asked Questions
Quick answers to the most common questions about buying WHLR stock.
Is WHLR's revenue growth accelerating or slowing?
WHLR revenue declined -8.8% year-over-year, contrasting with the 5-year CAGR of +10.5%. TTM revenue fell to $99M. This reverses the prior growth trend.
What is WHLR's long-term revenue growth rate?
Wheeler Real Estate Investment Trust, Inc.'s 5-year revenue CAGR of +10.5% reflects the variable expansion pattern. Current YoY growth of -8.8% is below this long-term average.
How is WHLR's revenue distributed by segment?
WHLR reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.