Federal Realty Investment Trust (FRT) financial statements
Federal Realty Investment Trust reported revenue of $1.3B in fiscal 2025, up 5.3% a year over 9 years.
Net income was $411M and the operating margin 47.1%, against 40.0% in 2016.
Free cash flow was $443M.
The diluted share count rose 22% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Federal Realty Investment Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $802M | $857M | $915M | $936M | $835M | $951M | $1.1B | $1.1B | $1.2B | $1.3B |
| Selling, general and admin | $42M | $45M | $42M | $50M | $48M | $57M | $60M | $59M | $57M | $55M |
| Operating income | $321M | $410M | $362M | $471M | $290M | $395M | $526M | $406M | $472M | $602M |
| Interest expense | $95M | $100M | $110M | $110M | $136M | $128M | $137M | $168M | $175M | $184M |
| Net income | $250M | $290M | $242M | $354M | $132M | $261M | $385M | $237M | $295M | $411M |
| EPS (diluted) | $3.50 | $3.97 | $3.18 | $4.61 | $1.62 | $3.26 | $4.71 | $2.80 | $3.42 | $4.68 |
| Diluted shares | 71M | 72M | 73M | 75M | 76M | 77M | 81M | 81M | 84M | 86M |
| Operating margin | 40.0% | 47.8% | 39.5% | 50.3% | 34.7% | 41.5% | 49.0% | 35.9% | 39.3% | 47.1% |
| Net margin | 31.2% | 33.8% | 26.4% | 37.8% | 15.8% | 27.5% | 35.9% | 20.9% | 24.6% | 32.1% |
Balance sheet
Fiscal years, from Federal Realty Investment Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $23M | $15M | $64M | $127M | $798M | $162M | $86M | $251M | $123M | $107M |
| Total assets | $5.4B | $6.3B | $6.3B | $6.8B | $7.6B | $7.6B | $8.2B | $8.4B | $8.5B | $9.1B |
| Total liabilities | $3.2B | $3.7B | $3.7B | $4.0B | $4.9B | $4.7B | $5.0B | $5.2B | $5.1B | $5.6B |
| Shareholders' equity | $2.0B | $2.3B | $2.3B | $2.5B | $2.5B | $2.6B | $3.0B | $3.0B | $3.2B | $3.2B |
| Net debt | -$23M | -$15M | -$64M | -$127M | -$798M | -$162M | -$86M | -$251M | -$123M | -$107M |
Cash flow
Fiscal years, from Federal Realty Investment Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $428M | $459M | $517M | $462M | $370M | $471M | $517M | $556M | $575M | $622M |
| Capital spending | $58M | $77M | $66M | $83M | $434M | $369M | $309M | $214M | $140M | $179M |
| Free cash flow | $370M | $382M | $451M | $379M | -$64M | $103M | $208M | $342M | $435M | $443M |
| Stock-based compensation | $10M | $11M | $12M | $12M | $12M | $13M | $14M | $14M | $16M | $15M |
| Free cash flow margin | 46.2% | 44.5% | 49.2% | 40.5% | -7.7% | 10.8% | 19.3% | 30.2% | 36.2% | 34.7% |
Questions
What was Federal Realty Investment Trust's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Federal Realty Investment Trust generate?
$443M in fiscal 2025 (operating cash flow minus capital spending).
From Federal Realty Investment Trust's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.