Urban Edge Properties financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Urban Edge Properties 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	326	407	414	388	330	425	398	417	445	472
General and administrative	28.8	30.7	35	38.2	48.7	39.2	43.1	37.1	37.5	40
Operating expenses	193	245	292	284
Operating income	133	162	122
Interest expense	49.1	53.3	62	63.8	68.2	54.9	55.6	70.8	77.3	73.3
Interest income	0.68	2.25	8.34	9.77	2.6	0.36	1.11	3.04	2.67	2.77
Pre-tax income	97.4	72.7	120	117	58.8	109	50.2	278	77.8	100
Income tax	0.8	-0.28	3.52	1.29	-39	1.14	2.9	17.8	2.39	2.6
Net income to minority interests	5.82	5.87	11.8	6.67	4.16	5.13	1.17	11.4	2.88	3.98
Net income	90.8	67.1	105	110	93.6	103	46.2	248	72.6	93.5
EBITDA	190	244	225
EPS, basic	0.91	0.62	0.92	0.91	0.79	0.88	0.39	2.11	0.60	0.74
EPS, diluted	0.91	0.61	0.92	0.91	0.79	0.88	0.39	2.11	0.60	0.74
Shares, basic (weighted)	99.4	107	114	120	118	117	117	118	121	126
Shares, diluted (weighted)	99.8	118	114	120	118	121	122	118	121	126
Dividend per share	0.82	0.88	0.88	0.88	0.68	0.60	0.64	0.64	0.68	0.76

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	132	490	440	433	385	164	85.5	101	41.4	48.9
Lease right-of-use assets			0	81.8	81	69.4	64.2	57	65.5	58.9
Intangible assets	30.9	87.2	68.4	48.1	56.2	71.1	62.9	114	110	87.6
Total assets	1,904	2,821	2,799	2,846	2,940	2,985	2,977	3,280	3,312	3,312
Total liabilities	1,408	1,830	1,793	1,832	1,944	1,937	1,947	2,058	1,950	1,935
Total debt	1,198	1,565	1,550	1,546	1,588	1,687	1,692
Paid-in capital	488	946	956	1,019	990	1,001	1,011	1,012	1,150	1,164
Retained earnings	-29.1	-57.6	-52.9	-52.5	-39.5	-7.09	-36.1	137	127	125
Other comprehensive income						0	0.63	0.46	0.18	-0.7
Total equity	496	991	1,006	1,015	996	1,048	1,030	1,221	1,362	1,376
Total liabilities and equity	1,904	2,821	2,799	2,846	2,940	2,985	2,977	3,280	3,312	3,312
Shares outstanding	99.8	114	114	121	117	117	117	118	125	126

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	96.6	72.9	117	116	97.8	108	47.3	260	75.4	97.5
Depreciation and amortization	57.2	82.5	103	96.6	97.8	94.1	101	110	151	139
Stock-based compensation	5.43	7.14	9.74	13.5	17	10.8	10.5	7.81	10.4	11.8
Deferred income tax	0.2	-0.97	2.7	0.37	-44.8	2.26	2.8	13.7	-0.12	2.34
Change in receivables	-0.08	-13.7	-13.3	8.12	5.89	-0.14	-1.71	2.81	-5.97	-5.99
Change in payables	0.88	18.9	3.68	1.09	8.52	-3.54	-0.85	15.2	-3.41	7.04
Cash from operations	137	158	137	156	113	135	140	163	153	183
Capital expenditures			-119	-91.3	-28.5	-95.4	-116	-116	-111	-101
Acquisitions	-2.67
Purchases of investments	0	-537	0	0
Cash from investing	-59.2	-296	-64.8	-2.52	-98.5	-311	-152	-118	-235	-75.6
Debt issued	0	936	0	0	90.3	117	103	470	211	124
Debt repaid	-38.5	-130	-4.29	-5.59	-89.3	-18.2	-98.3	-694	-387	-214
Stock issued	8.95	348	0.48	0.44	0.4	0.37	0.38	0.37	137	-0.42
Share buybacks			0	0	-54.1	0	0
Dividends paid	-81.2	-95.4	-100	-106	-26.6	-124	-75.1	-75.2	-82.9	-95.5
Cash from financing	-116	498	-116	-126	-80.2	-23.5	-78.8	0.16	-2.09	-119
Net change in cash	-37.8	361	-43.3	27.6	-65.9	-199	-91.1	45.5	-83.6	-11.8
Free cash flow			18.3	65.1	84.3	39.9	23.6	47.3	42.6	81.8
Interest paid	51.1	55.1	65.7	64.8	68.1	58.6	55.7	69	80.7	72.5
Income taxes paid	1.28	1.24	0.76	1.6	0.5	4.66	0.91	0.05	9.86	0.87

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $19.90 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	23.7%	Pre-tax income / revenue.
Net margin	22.2%	Net income / revenue.
FCF margin	14.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	38.9%	Cash from operations / revenue.
Effective tax rate	2.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	3.2%	Net income / average total assets.
Stock-based pay / revenue	2.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	24.8%	Capital expenditures / revenue.
D&A / revenue	26.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	28.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	26.5%	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	-0.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	23.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	23.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-1.3%	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	19.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	9.4%	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	10.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	92.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	51.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-0.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	11.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.9%	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	2.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.6%	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	2.4%	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	3.7%	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	1.2%	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	1.3%	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
Liabilities / assets	59.2%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.7%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.14x	Revenue / average total assets.
FCF conversion	63.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	63.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.82	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	$3.71	Revenue / diluted weighted shares.
FCF per share	$0.52	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.44	Cash from operations / diluted weighted shares.
Cash per share	$0.40	(Cash + short-term investments) / shares outstanding.
Payout ratio	90.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	143.2%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.51B	Share price x shares outstanding.
Enterprise value	$2.46B	Market cap + total debt - cash - short-term investments.
P/E	23.3x	Market cap / net income. Only when net income is positive.
P/S	5.17x	Market cap / revenue.
P/FCF	36.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.3x	Market cap / cash from operations, when positive.
EV/Sales	5.06x	Enterprise value / revenue.
EV/FCF	35.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.7%	Free cash flow / market cap.
Earnings yield	4.3%	Net income / market cap (the inverse of P/E).
Dividend yield	3.9%	Dividends paid over the period / market cap.
Shareholder yield	3.9%	(Dividends paid + share buybacks) / market cap.
PEG	0.98x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Urban Edge Properties's revenue in fiscal 2025?

Urban Edge Properties reported revenue of $471.9M for fiscal 2025, 6.1% higher than the year before.

Was Urban Edge Properties profitable in fiscal 2025?

Yes. Net income was $93.5M, a net margin of 19.8%.

How much free cash flow did Urban Edge Properties generate in fiscal 2025?

Cash from operations of $182.7M minus capital expenditures of $100.9M left free cash flow of $81.8M.

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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