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Federal Realty Investment Trust (FRT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Retail REITs · DATA UPDATED 2026-07-19

Federal Realty Investment Trust (FRT) operates in the Retail REITs industry and is headquartered in North Bethesda, United States with about 314 employees. Its market capitalization is roughly $11 billion. In the fiscal year ended 2025-12-31, FRT reported $1.3B in revenue and $411M in net income.

Federal Realty Investment Trust is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties. They are located primarily in major coastal markets and select underserved regions that have strong economic and demographic fundamentals.

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FRT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$1.3B	$1.3B	$1.2B	$1.1B	$1.1B	$951M	$835M	$936M	$915M	$857M	$802M	$744M	$686M	$637M	$606M	$551M	$542M	$531M	$520M	$483M	$451M
Gross Profit	$703M	$124M	$811M	$769M	$718M	$635M	$545M	$637M	$628M	$585M	$548M	$511M	$474M	$447M	$427M	$381M	$373M	$364M	$355M	$337M	$451M
Gross Margin %	53.6%	9.7%	67.4%	67.9%	66.8%	66.7%	65.3%	68.1%	68.5%	68.2%	68.4%	68.6%	69.1%	70.1%	70.4%	69.2%	68.8%	68.6%	68.2%	69.7%	100.0%
Operating Income (EBIT)	$545M	$460M	$472M	$406M	$526M	$395M	$290M	$471M	$362M	$410M	$321M	$300M	$271M	$254M	$254M	$226M	$229M	$211M	$217M	$209M	$199M
Operating Margin %	41.6%	35.9%	39.3%	35.9%	49.0%	41.5%	34.6%	50.3%	39.5%	47.9%	40.0%	40.3%	39.5%	39.9%	41.9%	41.1%	42.3%	39.7%	41.8%	43.2%	44.1%
Net Income	$506M	$411M	$295M	$237M	$385M	$261M	$136M	$354M	$242M	$290M	$250M	$210M	$165M	$163M	$152M	$144M	$123M	$98M	$130M	$196M	$119M
Net Margin %	38.6%	32.1%	24.6%	20.9%	35.9%	27.5%	16.3%	37.8%	26.4%	33.8%	31.2%	28.2%	24.0%	25.5%	25.1%	26.1%	22.7%	18.5%	24.9%	40.5%	26.3%
EBITDA	$1.1B	$973M	$822M	$737M	$835M	$677M	$545M	$710M	$603M	$614M	$515M	$457M	$433M	$404M	$398M	$355M	$348M	$342M	$328M	$315M	$297M
Earnings Per Share (EPS)	$5.86	$4.79	$3.53	$2.91	$4.79	$3.38	$1.80	$4.73	$3.30	$4.01	$3.52	$3.05	$2.44	$2.48	$2.37	$2.30	$2.00	$1.64	$2.20	$3.46	$2.20
Shares Outstanding (M)	87M	86M	84M	81M	81M	77M	76M	75M	73M	72M	71M	69M	67M	65M	64M	63M	61M	60M	59M	57M	54M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FRT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$341M	$336M	$323M	$312M	$309M	$311M	$304M	$296M
Gross Profit	$242M	$31M	$217M	$213M	$205M	$209M	$204M	$202M
Gross Margin %	70.9%	9.1%	67.3%	68.5%	66.2%	67.3%	67.1%	68.2%
Operating Income (EBIT)	$116M	$116M	$111M	$203M	$108M	$109M	$106M	$157M
Operating Margin %	34.1%	34.4%	34.3%	65.1%	35.0%	35.1%	34.9%	53.0%
Net Income	$159M	$130M	$62M	$156M	$64M	$66M	$61M	$112M
Net Margin %	46.7%	38.6%	19.1%	50.0%	20.6%	21.0%	20.1%	37.8%
EBITDA	$310M	$278M	$206M	$294M	$196M	$199M	$195M	$244M
Earnings Per Share (EPS)	$1.84	$1.51	$0.72	$1.80	$0.75	$0.77	$0.73	$1.34
Shares Outstanding (M)	87M	86M	86M	87M	85M	85M	84M	84M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FRT Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$629M	$622M	$575M	$556M	$517M	$471M	$370M	$462M	$517M	$459M	$428M	$369M	$346M	$314M	$297M	$245M	$257M	$257M	$228M	$214M	$184M
Capital Expenditures (CapEx)	$349M	$291M	$247M	$311M	$417M	$441M	$502M	$410M	$368M	$519M	$437M	$283M	$361M	$290M	$181M	$246M	$146M	$113M	$238M	$69M	$387M
Free Cash Flow (FCF)	$280M	$331M	$328M	$245M	$100M	$31M	($132M)	$52M	$148M	($60M)	($10M)	$87M	($15M)	$24M	$116M	($1M)	$111M	$144M	($9M)	$145M	($202M)
FCF Margin %	21.3%	25.9%	27.3%	21.6%	9.3%	3.2%	-15.8%	5.6%	16.2%	-7.0%	-1.2%	11.6%	-2.2%	3.8%	19.1%	-0.2%	20.4%	27.2%	-1.8%	30.0%	-44.9%
Dividends Paid	$391M	$388M	$372M	$359M	$347M	$336M	$325M	$314M	$301M	$283M	$268M	$243M	$215M	$193M	$180M	$169M	$168M	$162M	$146M	$131M	$140M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FRT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$186M	$145M	$148M	$151M	$179M	$120M	$144M	$170M
Capital Expenditures (CapEx)	$65M	$94M	$125M	$66M	$59M	$64M	$58M	$60M
Free Cash Flow (FCF)	$121M	$51M	$23M	$85M	$120M	$55M	$86M	$109M
FCF Margin %	35.5%	15.1%	7.2%	27.3%	38.8%	17.7%	28.2%	36.9%
Dividends Paid	$99M	$99M	$96M	$97M	$96M	$95M	$93M	$92M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FRT Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$9.1B	$9.1B	$8.5B	$8.4B	$8.2B	$7.6B	$7.6B	$6.8B	$6.3B	$6.3B	$5.4B	$4.9B	$4.5B	$4.2B	$3.9B	$3.7B	$3.2B	$3.2B	$3.1B	$3.0B	$2.7B
Cash & Cash Equivalents	$116M	$107M	$123M	$251M	$86M	$162M	$798M	$127M	$64M	$15M	$23M	$21M	$48M	$89M	$37M	$68M	$16M	$135M	$15M	$51M	$11M
Total Liabilities	$5.5B	$5.6B	$5.1B	$5.2B	$5.0B	$4.7B	$4.9B	$4.0B	$3.7B	$3.7B	$3.2B	$3.0B	$2.7B	$2.6B	$2.5B	$2.3B	$2.0B	$2.0B	$1.9B	$1.8B	$1.9B
Total Debt (Short + Long-Term)	$5.1B	$6.1B	$5.3B	$5.2B	$1.1B	$786M	$4.8B	$3.5B	$3.5B	$3.3B	$3.1B	$2.7B	$2.7B	$2.6B	$2.5B	$2.3B	$1.9B	$1.8B	$2.1B	$1.9B	$2.0B
Total Shareholders' Equity	$3.3B	$3.2B	$3.2B	$3.0B	$3.0B	$2.6B	$2.7B	$2.8B	$2.6B	$2.5B	$2.2B	$1.9B	$1.8B	$1.6B	$1.4B	$1.2B	$1.2B	$1.2B	$1.1B	$1.1B	$784M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FRT viewer.

Other Companies in Retail REITs

SPG · Simon Property Group — $87 billion
O · Realty Income — $61 billion
KIM · Kimco Realty — $18 billion
REG · Regency Centers — $15 billion

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