Fundies.
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Federal Realty Investment Trust

EDGAR
FRT Quarterly report (10-Q) · filed 2026-10-30

Annual consolidated revenue for 2025: about USD 1.279B, using the latest reported figures. The previous period, 2024, was about USD 1.202B.

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Watchlist

Latest quarter

Revenue

339 million USD

2026 Q3 · USD

Exact inputs and evidence

Operating margin

34.47%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 116855000 USD Source
  • Revenue: 339024000 USD Source

Operating cash flow

169 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 507022000 USD Source
  • Operating Cash Flow: 338331000 USD Source
Cash and cash equivalents
110 million USD Source
Exact value

109728000 USD

Long-term debt including current maturities
4.96 billion USD Source
Exact value

4963602000 USD

Shares outstanding
86.3 million shares Source
Exact value

86296537 shares

Reported share-count change

0.04% · 31 thousand shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 86265563 shares · 2025-09-30· Source
  • 86296537 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

1.35 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 1278975000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 942930000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 341084000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 335706000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 339024000 USD · 2026-07-01 – 2026-09-30 Source

Net income

441 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 411077000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 281333000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 159099000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 85702000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 66169000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

652 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 622378000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 477531000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 184594000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 338331000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 184594000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 507022000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 338331000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-30.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 11 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +6.4%

    Prior period

    USD 1.2 billion

    –

    Current period

    USD 1.28 billion

    –

    Exact inputs and evidence

    1278975000 − 1202452000 = 76523000 USD

    1202452000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1278975000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +39.2%

    Prior period

    USD 295.21 million

    –

    Current period

    USD 411.08 million

    –

    Exact inputs and evidence

    411077000 − 295208000 = 115869000 USD

    295208000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    411077000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +8.3%

    Prior period

    USD 574.56 million

    –

    Current period

    USD 622.38 million

    –

    Exact inputs and evidence

    622378000 − 574563000 = 47815000 USD

    574563000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    622378000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1.28 billion 100% of revenue
  • Operating costs Derived USD 676.78 million 53% of revenue
  • Operating income USD 602.2 million 47% of revenue
  • Tax, interest and other Derived USD 191.12 million 15% of revenue
  • Net income USD 411.08 million 32% of revenue

Cash

  • Operating cash flow USD 622.38 million 49% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 31%60%
  • 2017 34%14%52%
  • 2018 26%13%60%
  • 2019 38%13%50%
  • 2020 16%19%65%
  • 2021 27%14%59%
  • 2022 36%13%51%
  • 2023 21%15%64%
  • 2024 25%15%61%
  • 2025 32%15%53%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31801591000 480596000 Derived 320995000 71085000 Derived 249910000 Unavailable
Source
2017 2017-01-01 – 2017-12-31857348000 447138000 Derived 410210000 120296000 Derived 289914000 Unavailable
Source
2018 2018-01-01 – 2018-12-31915436000 553800000 Derived 361636000 119729000 Derived 241907000 Unavailable
Source
2019 2019-01-01 – 2019-12-31935788000 464877000 Derived 470911000 117045000 Derived 353866000 Unavailable
Source
2020 2020-01-01 – 2020-12-31835494000 545970000 Derived 289524000 157818000 Derived 131706000 Unavailable
Source
2021 2021-01-01 – 2021-12-31951224000 556499000 Derived 394725000 133227000 Derived 261498000 Unavailable
Source
2022 2022-01-01 – 2022-12-311074378000 547970000 Derived 526408000 140917000 Derived 385491000 Unavailable
Source
2023 2023-01-01 – 2023-12-311132154000 725684000 Derived 406470000 169485000 Derived 236985000 Unavailable
Source
2024 2024-01-01 – 2024-12-311202452000 730096000 Derived 472356000 177148000 Derived 295208000 Unavailable
Source
2025 2025-01-01 – 2025-12-311278975000 676776000 Derived 602199000 191122000 Derived 411077000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1.3B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.4B1.0B690.6M345.3M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue801591000
2017Revenue857348000
2018Revenue915436000
2019Revenue935788000
2020Revenue835494000
2021Revenue951224000
2022Revenue1074378000
2023Revenue1132154000
2024Revenue1202452000
2025Revenue1278975000

Revenue growth

Change in revenue from the same financial period one year earlier.

6.4% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.15.8%8.7%1.6%-5.6%-12.7%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year7.7%
2017Year over year7%
2018Year over year6.8%
2019Year over year2.2%
2020Year over year-10.7%
2021Year over year13.9%
2022Year over year12.9%
2023Year over year5.4%
2024Year over year6.2%
2025Year over year6.4%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 47.1% 2025
Net margin 32.1% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.54%41%27%14%0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin40%
2017Operating margin47.8%
2018Operating margin39.5%
2019Operating margin50.3%
2020Operating margin34.7%
2021Operating margin41.5%
2022Operating margin49%
2023Operating margin35.9%
2024Operating margin39.3%
2025Operating margin47.1%
2016Net margin31.2%
2017Net margin33.8%
2018Net margin26.4%
2019Net margin37.8%
2020Net margin15.8%
2021Net margin27.5%
2022Net margin35.9%
2023Net margin20.9%
2024Net margin24.6%
2025Net margin32.1%
2016Free cash flow marginNot reported
2017Free cash flow marginNot reported
2018Free cash flow marginNot reported
2019Free cash flow marginNot reported
2020Free cash flow marginNot reported
2021Free cash flow marginNot reported
2022Free cash flow marginNot reported
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 622.4M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.672.2M504.1M336.1M168.0M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow427672000
2017Operating cash flow458828000
2018Operating cash flow516688000
2019Operating cash flow461919000
2020Operating cash flow369929000
2021Operating cash flow471352000
2022Operating cash flow516769000
2023Operating cash flow555830000
2024Operating cash flow574563000
2025Operating cash flow622378000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flowUnavailable
2017Free cash flowUnavailable
2018Free cash flowUnavailable
2019Free cash flowUnavailable
2020Free cash flowUnavailable
2021Free cash flowUnavailable
2022Free cash flowUnavailable
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

61.7% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.70%52%35%17%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets59.1%
2017Liabilities / assets59.6%
2018Liabilities / assets58.6%
2019Liabilities / assets59.1%
2020Liabilities / assets64.7%
2021Liabilities / assets62.3%
2022Liabilities / assets61%
2023Liabilities / assets61.8%
2024Liabilities / assets59.8%
2025Liabilities / assets61.7%

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Current assets / current liabilitiesNot reportedNo source recorded
2017-12-31Current assets / current liabilitiesNot reportedNo source recorded
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019-12-31Current assets / current liabilitiesNot reportedNo source recorded
2020-12-31Current assets / current liabilitiesNot reportedNo source recorded
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 249.91 million
Exact value

Exact value: 249910000 USD

2016-01-01 – 2016-12-31: 249910000 USD Inspect Net Income Open source
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USD 427.67 million
Exact value

Exact value: 427672000 USD

2016-01-01 – 2016-12-31: 427672000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2017 2017-01-01 – 2017-12-31
USD 289.91 million
Exact value

Exact value: 289914000 USD

2017-01-01 – 2017-12-31: 289914000 USD Inspect Net Income Open source
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USD 458.83 million
Exact value

Exact value: 458828000 USD

2017-01-01 – 2017-12-31: 458828000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2018 2018-01-01 – 2018-12-31
USD 241.91 million
Exact value

Exact value: 241907000 USD

2018-01-01 – 2018-12-31: 241907000 USD Inspect Net Income Open source
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USD 516.69 million
Exact value

Exact value: 516688000 USD

2018-01-01 – 2018-12-31: 516688000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2019 2019-01-01 – 2019-12-31
USD 353.87 million
Exact value

Exact value: 353866000 USD

2019-01-01 – 2019-12-31: 353866000 USD Inspect Net Income Open source
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USD 461.92 million
Exact value

Exact value: 461919000 USD

2019-01-01 – 2019-12-31: 461919000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2020 2020-01-01 – 2020-12-31
USD 131.71 million
Exact value

Exact value: 131706000 USD

2020-01-01 – 2020-12-31: 131706000 USD Inspect Net Income Open source
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USD 369.93 million
Exact value

Exact value: 369929000 USD

2020-01-01 – 2020-12-31: 369929000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2021 2021-01-01 – 2021-12-31
USD 261.5 million
Exact value

Exact value: 261498000 USD

2021-01-01 – 2021-12-31: 261498000 USD Inspect Net Income Open source
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USD 471.35 million
Exact value

Exact value: 471352000 USD

2021-01-01 – 2021-12-31: 471352000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2022 2022-01-01 – 2022-12-31
USD 385.49 million
Exact value

Exact value: 385491000 USD

2022-01-01 – 2022-12-31: 385491000 USD Inspect Net Income Open source
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USD 516.77 million
Exact value

Exact value: 516769000 USD

2022-01-01 – 2022-12-31: 516769000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2023 2023-01-01 – 2023-12-31
USD 236.99 million
Exact value

Exact value: 236985000 USD

2023-01-01 – 2023-12-31: 236985000 USD Inspect Net Income Open source
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USD 555.83 million
Exact value

Exact value: 555830000 USD

2023-01-01 – 2023-12-31: 555830000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
USD 295.21 million
Exact value

Exact value: 295208000 USD

2024-01-01 – 2024-12-31: 295208000 USD Inspect Net Income Open source
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USD 574.56 million
Exact value

Exact value: 574563000 USD

2024-01-01 – 2024-12-31: 574563000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
USD 411.08 million
Exact value

Exact value: 411077000 USD

2025-01-01 – 2025-12-31: 411077000 USD Inspect Net Income Open source
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USD 622.38 million
Exact value

Exact value: 622378000 USD

2025-01-01 – 2025-12-31: 622378000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

179 filings · 4,028 latest values · 4,028 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000034903, 34903, FRT, FRT-PC, edgar:34903

Also known as FEDERAL REALTY INVESTMENT TRUST, Federal Realty Investment Trust