Phillips Edison & Company, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Phillips Edison & Company, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	258	312	430	537	498	533	575	610	661	727
General and administrative	37.6	36.9	50.4	48.5	41.4	48.8	45.2	44.4	45.6	51.6
Operating expenses	222	294	415	534	423	435	445	456	489	528
Interest expense	32.5	45.7	72.6	103	85.3	76.4	71.2	84.2	97
Other non-operating income	1.26	0.67	-1.72	-0.68	9.25	-34.4	-12.2	-7.31	-5.73	-4.33
Income tax							-0.8	0.4	1.8	1.3
Net income to minority interests	0.11	-3.33	7.84	-9.29	0.69	2.11	6.21	6.91	7.01	11.7
Net income	8.93	-38.4	39.1	-63.5	4.77	15.1	48.3	56.8	62.7	111
EPS, basic	0.15	-0.64	0.61	-0.67	0.05	0.15	0.42	0.48	0.51	0.89
EPS, diluted	0.15	-0.64	0.61	-0.67	0.05	0.15	0.42	0.48	0.51	0.89
Shares, basic (weighted)	60.4	60.3	64.6	94.6	96.8	102	115	118	123	126
Shares, diluted (weighted)	61.3	64.5	79.3	109	111	117	130	133	137	139
Dividend per share	2.04	2.04	2.04	2.01	0.59	1.04	1.09	1.14	1.19	1.25

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	8.22	5.72	16.8	17.8	104	92.6	5.48	4.87	4.88	3.54
Other current assets	2.99	4.23
Lease right-of-use assets				2.11	1.44
Goodwill	0	29.1	29.1	29.1	29.1	29.1	29.1	29.1	29.1	29.1
Intangible assets	0	55.1	14.1	2.44
Total assets	2,380	3,526	5,163	4,828	4,679	4,669	4,735	4,866	5,046	5,286
Total liabilities	1,155	2,047	2,751	2,659	2,663	2,192	2,138	2,212	2,412	2,697
Total debt	1,056	1,807	2,439	2,354	2,293	1,892	1,897	1,969	2,110	2,375
Paid-in capital	1,627	1,629	2,675	2,779	2,739	3,264	3,384	3,547	3,647	3,664
Retained earnings	-438	-601	-692	-947	-999	-1,091	-1,170	-1,248	-1,332	-1,379
Other comprehensive income	10.6	16.5	12.4	-20.8	-52.3	-24.8	21	10.5	4.31	0.36
Shareholders' equity	1,201	1,046	1,998	1,814	1,690	2,150	2,236	2,310	2,320	2,287
Minority interests	23.4	432	415	355	326	327	361	343	314	303
Total equity	1,225	1,479	2,412	2,169	2,016	2,476	2,597	2,653	2,634	2,589
Total liabilities and equity	2,380	3,526	5,163	4,828	4,679	4,669	4,735	4,866	5,046	5,286
Shares outstanding	60.8	60.8	91.9	289	93.3				125

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9.04	-41.7	47	-72.8	5.46	17.2	54.5	63.8	69.7	123
Depreciation and amortization	103	127	178	231	225	221	236	236	253	266
Stock-based compensation	0	0	5.1	7.72	5.86	16.4	15.4	6.87	9.7	11.7
Change in payables	6.84	5.43	-12.5	-13.6	-8.94	8.51	9.96	2.11	26.4	14.8
Cash from operations	103	109	153	227	211	263	291	291	335	348
Acquisitions	0	-446	0	0
Purchases of investments				0	0	-5.51	-3	0	-4.08	-8.31
Sales and maturities of investments						0	0	0.4	5.85	0.13
Cash from investing	-191	-641	-259	64.2	-44.1	-180	-331	-353	-393	-392
Debt issued			623	260	0	822	0	58
Debt repaid	-111	-83.4	-302	-279	-65	-1,230	-81.9	-102	-408	-146
Stock issued	0			0	0	547	90.1	149	74.5	0
Share buybacks	-20.3	-46.5	-53.2	-34.7	-5.27	-77.8	0	0
Dividends paid	-64.3	-74.2	-80.7	-123	-49.3	-107	-127	-136	-134	-157
Cash from financing	90.7	509	162	-280	-130	-98.8	-57.8	53.9	58	78.8
Net change in cash	2.43	-22.5	56.9	10.8	36.8	-16.4	-98.2	-8.47	-0.23	34.7
Interest paid	29.7	39.5	67.6	89.4	78.5	68.1	65.1	76.5	75	97.7
Income taxes paid			-0.15	0.59	0.95	0.56	0.19	0.69	0.92	1.61

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $37.39 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Net margin	19.1%	Net income / revenue.
Operating cash flow margin	48.6%	Cash from operations / revenue.
Return on equity (ROE)	6.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.6%	Net income / average total assets.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	34.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	8.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	77.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	32.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	87.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	74.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	28.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	77.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	4.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	5.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	16.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.03x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	45.0%	Total debt / total assets.
Liabilities / assets	51.0%	Total liabilities / total assets.
Net debt	$2.44B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	0.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$2.35B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.14x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.03	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$5.39	Revenue / diluted weighted shares.
Operating cash flow per share	$2.62	Cash from operations / diluted weighted shares.
Book value per share	$17.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.85	Tangible book value / shares outstanding.
Cash per share	$0.05	(Cash + short-term investments) / shares outstanding.
Payout ratio	113.3%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.81B	Share price x shares outstanding.
Enterprise value	$7.26B	Market cap + total debt - cash - short-term investments.
P/E	33.5x	Market cap / net income. Only when net income is positive.
P/S	6.41x	Market cap / revenue.
P/B	2.03x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.05x	Market cap / tangible book value, when positive.
P/OCF	13.2x	Market cap / cash from operations, when positive.
EV/Sales	9.66x	Enterprise value / revenue.
Earnings yield	3.0%	Net income / market cap (the inverse of P/E).
Dividend yield	3.4%	Dividends paid over the period / market cap.
Shareholder yield	3.4%	(Dividends paid + share buybacks) / market cap.
PEG	1.18x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Phillips Edison & Company, Inc.'s revenue in fiscal 2025?

Phillips Edison & Company, Inc. reported revenue of $726.6M for fiscal 2025, 9.9% higher than the year before.

Was Phillips Edison & Company, Inc. profitable in fiscal 2025?

Yes. Net income was $111.3M, a net margin of 15.3%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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