For the twelve months ended Sep 30, 2026, Phillips Edison & Company Inc. reported $761.31M of revenue and $181.70M of net income.
PECO revenue was $193.09M in fiscal Q3 2026 (ended Sep 30, 2026), up 5.7% from a year earlier and up 1.8% from the prior quarter. For the full fiscal 2025 it was $726.59M, up 9.9% from fiscal 2024. Compound annual growth was +7.8% over 5 years and +11.6% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
PECO net income was $62.68M in fiscal Q3 2026 (ended Sep 30, 2026), up 153.9% from a year earlier and up 52.4% from the prior quarter. For the full fiscal 2025 it was $111.30M, up 77.6% from fiscal 2024. Compound annual growth was +87.7% over 5 years and +23.6% over 10 years. It rose in each of the last 5 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
PECO diluted EPS was $0.49 in fiscal Q3 2026 (ended Sep 30, 2026), up 145.0% from a year earlier and up 48.5% from the prior quarter. For the full fiscal 2025 it was $0.89, up 74.5% from fiscal 2024. Compound annual growth was +77.9% over 5 years and +15.5% over 10 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $726.59M | $661.39M | $610.12M | $575.37M | $532.85M | $498.02M | $536.71M | $430.39M | $311.54M | $257.73M |
| Selling, general and admin | $51.64M | $45.61M | $44.37M | $45.23M | $48.82M | $41.38M | $48.52M | $50.41M | $36.88M | $37.61M |
| Interest expense | - | $96.99M | $84.23M | $71.20M | $76.37M | $85.30M | $103.17M | $72.64M | $45.66M | $32.46M |
| Income tax | $1.30M | $1.80M | $400.0K | -$800.0K | - | - | - | - | - | - |
| Net income | $111.30M | $62.69M | $56.85M | $48.32M | $15.12M | $4.77M | -$63.53M | $39.14M | -$38.39M | $8.93M |
| EPS, basic | $0.89 | $0.51 | $0.48 | $0.42 | $0.15 | $0.05 | -$0.67 | $0.60 | -$0.63 | $0.15 |
| EPS, diluted | $0.89 | $0.51 | $0.48 | $0.42 | $0.15 | $0.05 | -$0.67 | $0.60 | -$0.63 | $0.15 |
| Diluted shares | 138.9M | 136.8M | 133.0M | 130.3M | 116.7M | 111.2M | 109.0M | 80.5M | 65.5M | 62.2M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.54M | $8.65M | $4.87M | $17.35M | $115.53M | $131.94M | $95.11M | $84.30M | $27.45M | $49.95M |
| Goodwill | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.09M | $0 |
| Total assets | $5.29B | $5.05B | $4.87B | $4.74B | $4.67B | $4.68B | $4.83B | $5.16B | $3.53B | $2.38B |
| Total debt | $2.38B | $2.11B | $1.97B | $1.90B | $1.89B | $2.29B | $2.35B | $2.44B | $1.81B | $1.06B |
| Total liabilities | $2.70B | $2.41B | $2.21B | $2.14B | $2.19B | $2.66B | $2.66B | $2.75B | $2.05B | $1.16B |
| Shareholders' equity | $2.29B | $2.63B | $2.65B | $2.60B | $2.48B | $2.02B | $2.17B | $2.41B | $1.48B | $1.22B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $348.15M | $334.71M | $290.97M | $290.89M | $262.90M | $210.58M | $226.88M | $153.29M | $108.86M | $103.08M |
| Investing cash flow | -$392.29M | -$392.94M | -$353.39M | -$331.25M | -$180.49M | -$44.09M | $64.18M | -$258.87M | -$640.74M | -$191.33M |
| Financing cash flow | $78.80M | $58.01M | $53.95M | -$57.83M | -$98.82M | -$129.66M | -$280.25M | $162.44M | $509.38M | $90.69M |
| Dividends paid | $157.28M | $134.02M | $135.75M | $127.08M | $106.70M | $49.33M | $123.14M | $80.73M | $74.20M | $64.27M |
| Share repurchases | - | - | $0 | $0 | $77.77M | $5.27M | $34.67M | $53.15M | $46.54M | $20.30M |
| Stock-based compensation | $11.68M | $9.70M | $6.87M | $15.41M | $16.39M | $5.86M | $7.72M | $5.10M | $0 | $0 |
| Depreciation and amortization | $266.37M | $253.02M | $236.44M | $236.22M | $221.43M | $224.68M | $236.87M | $191.28M | $127.16M | $103.28M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 9.9% | 8.4% | 6.0% | 8.0% | 7.0% | -7.2% | 24.7% | 38.1% | 20.9% | 6.5% |
| Net income growth, YoY | 77.6% | 10.3% | 17.6% | 219.6% | 216.9% | - | - | - | - | -33.1% |
| EPS growth, YoY | 74.5% | 6.3% | 14.3% | 180.0% | 200.0% | - | - | - | - | -28.6% |
| Net margin | 15.3% | 9.5% | 9.3% | 8.4% | 2.8% | 1.0% | -11.8% | 9.1% | -12.3% | 3.5% |
| Return on equity | 4.9% | 2.4% | 2.1% | 1.9% | 0.6% | 0.2% | -2.9% | 1.6% | -2.6% | 0.7% |
| Return on assets | 2.1% | 1.2% | 1.2% | 1.0% | 0.3% | 0.1% | -1.3% | 0.8% | -1.1% | 0.4% |
| Debt to equity | 1.04 | 0.80 | 0.74 | 0.73 | 0.76 | 1.14 | 1.09 | 1.01 | 1.22 | 0.86 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193.09M | $189.62M | $190.74M | $187.86M | $182.67M | $177.75M | $178.31M | $173.05M | $165.53M | $161.51M | $161.30M | $154.45M |
| Selling, general and admin | $11.91M | $13.57M | $11.94M | $13.88M | $12.75M | $12.92M | $12.09M | $11.55M | $11.11M | $11.13M | $11.81M | $10.76M |
| Interest expense | - | - | - | - | - | $27.72M | $25.67M | $25.04M | $25.00M | $23.62M | $23.34M | $22.57M |
| Income tax | $200.0K | $200.0K | $200.0K | $700.0K | $200.0K | $200.0K | $100.0K | $800.0K | $400.0K | $500.0K | $100.0K | $0 |
| Net income | $62.68M | $41.12M | $30.38M | $47.52M | $24.68M | $12.78M | $26.31M | $18.14M | $11.60M | $15.27M | $17.67M | $13.53M |
| EPS, basic | $0.49 | $0.33 | $0.24 | $0.38 | $0.20 | $0.10 | $0.21 | $0.16 | $0.09 | $0.12 | $0.14 | $0.12 |
| EPS, diluted | $0.49 | $0.33 | $0.24 | $0.38 | $0.20 | $0.10 | $0.21 | $0.16 | $0.09 | $0.12 | $0.14 | $0.12 |
| Diluted shares | 141.3M | 139.2M | 139.0M | - | 138.9M | 138.9M | 138.6M | - | 136.6M | 136.4M | 136.4M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $8.90M | $7.13M | $3.14M | $3.54M | $4.08M | $5.59M | $5.46M | $8.65M | $6.45M | $7.06M | $5.63M | $4.87M |
| Goodwill | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M | $29.07M |
| Total assets | $5.55B | $5.44B | $5.35B | $5.29B | $5.26B | $5.27B | $5.16B | $5.05B | $4.95B | $4.91B | $4.89B | $4.87B |
| Total debt | $2.52B | $2.45B | $2.49B | $2.38B | $2.39B | $2.39B | $2.28B | $2.11B | $2.10B | $2.04B | $2.02B | $1.97B |
| Total liabilities | $2.85B | $2.78B | $2.77B | $2.70B | $2.68B | $2.68B | $2.54B | $2.41B | $2.37B | $2.29B | $2.25B | $2.21B |
| Shareholders' equity | $2.41B | $2.67B | $2.58B | $2.29B | $2.58B | $2.59B | $2.62B | $2.63B | $2.58B | $2.62B | $2.64B | $2.65B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $85.47M | $118.03M | $55.56M | $96.06M | $95.42M | $96.12M | $60.54M | $84.00M | $109.11M | $78.46M | $63.14M | $71.98M |
| Investing cash flow | -$128.57M | -$108.72M | -$127.84M | -$16.98M | -$46.19M | -$165.57M | -$163.56M | -$133.32M | -$116.39M | -$76.60M | -$66.64M | -$207.05M |
| Financing cash flow | $31.07M | -$1.71M | $51.34M | -$41.58M | -$52.60M | $70.77M | $102.22M | $48.64M | $5.66M | -$1.01M | $4.72M | $135.71M |
| Dividends paid | $42.86M | $41.16M | $54.73M | $27.41M | $39.55M | $38.76M | $51.55M | $25.43M | $48.57M | $24.04M | $35.98M | $35.41M |
| Stock-based compensation | $3.49M | $3.57M | $2.22M | $3.15M | $3.17M | $3.16M | $2.21M | $2.72M | $2.16M | $3.23M | $1.60M | $1.86M |
| Depreciation and amortization | $68.86M | $66.84M | $65.53M | $64.29M | $65.60M | $71.20M | $65.27M | $63.31M | $68.33M | $61.17M | $60.21M | $59.57M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 5.7% | 6.7% | 7.0% | 8.6% | 10.4% | 10.1% | 10.5% | 12.0% | 8.6% | 6.2% | 6.8% | 6.5% |
| Net income growth, YoY | 153.9% | 221.6% | 15.5% | 162.0% | 112.8% | -16.3% | 48.9% | 34.1% | -5.3% | 5.7% | 6.3% | -1.1% |
| EPS growth, YoY | 145.0% | 230.0% | 14.3% | 137.5% | 122.2% | -16.7% | 50.0% | 33.3% | -10.0% | 0.0% | 0.0% | 0.0% |
| Net margin | 32.5% | 21.7% | 15.9% | 25.3% | 13.5% | 7.2% | 14.8% | 10.5% | 7.0% | 9.5% | 11.0% | 8.8% |
| Debt to equity | 1.05 | 0.92 | 0.96 | 1.04 | 0.92 | 0.92 | 0.87 | 0.80 | 0.82 | 0.78 | 0.76 | 0.74 |
Source: XBRL data Phillips Edison & Company Inc. files with the SEC, latest filing dated Oct 27, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-3, first reported Aug 5, 2021.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| PECO | $761.31M | +7.0% | $181.70M | 23.9% | $5.27B |
| WELL | $13.79B | +39.2% | $1.67B | 12.1% | $181.46B |
| PLD | $8.95B | +6.7% | $3.71B | 41.5% | $124.09B |
| EQIX | $10.06B | +11.1% | $1.65B | 16.4% | $104.38B |
| AMT | $11.01B | +5.3% | $3.31B | 30.1% | $87.65B |
| SPG | $7.15B | +16.2% | $4.51B | 63.0% | $75.39B |
| DLR | $6.34B | +12.6% | $1.38B | 21.7% | $68.13B |
| PSA | $5.03B | +5.2% | $1.90B | 37.8% | $63.18B |
| O | $6.21B | +10.8% | $1.36B | 21.8% | $56.58B |