Phillips Edison & Company (PECO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Phillips Edison & Company

NasdaqGS•Real Estate•REIT - Retail

$38.29+1.02(0.03%)After hours

Market Cap

$5.00B

P/E

27.5x

P/S

6.6x

P/B

2.1x

Phillips Edison & Company, Inc. (PECO) is one of the nation's largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. PECO has generated strong results through its vertically integrated operating platform and national footprint of well-occupied shopping centers. PECO's centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO's top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of June 30, 2026, PECO managed 330 shopping centers, including 302 wholly owned centers comprising 33.9 million square feet across 31 states and 28 shopping centers owned in three institutional joint ventures. PECO is focused on creating great grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time. Phillips Edison & Company, Inc. was incorporated in 1991 and is based in Cincinnati, Ohio.

How this company scores

AverageMetricSide Score: 54/100

Strongest: Profitability (21/25); weakest: Cash & Earnings Quality (2/25).

Profitability21/25

Growth19/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality2/25

Strengths

Strong marginsRising earningsProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 27.5x5y range 27.5x – 225.4x

Currently below its 20-quarter median.

P/S · 6.6x5y range 5.6x – 7.3x

Currently near its 20-quarter median.

P/B · 2.1x5y range 1.4x – 2.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Watch

6 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Price & Volume

Market Cap $5.00B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $761.31M
Q. Revenue: $193.09M
TTM EBITDA: $896.37M
TTM Op. Income: $630.85M
Q. Op. Income: $161.90M
TTM Net Income: $181.70M
Q. Net Income: $62.68M
EPS: $0.49
Shares Out.: $128.75M

$761.31M in TTM revenue grew 7.0% YoY, reaching $193.09M last quarter. TTM EBITDA of $896.37M and TTM operating income of $630.85M show growth is flowing through to the bottom line. TTM net income of $181.70M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 119.5%
Op. Margin: 83.8%
Net Margin: 32.5%

Op. margin of 83.8% is up 0.4% YoY — cost efficiency is improving. Net margin at 32.5% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 27.5x
P/S Ratio: 6.6x
P/B Ratio: 2.1x

At 27.5x P/E, the stock trades within typical market levels. P/S of 6.6x and P/B of 2.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.55B
Cash: $8.90M
Long-Term Debt: $2.52B
Book Value: $2.41B
D/E Ratio: 1.0
Debt/EBITDA: 10.9

With $5.55B in assets and $2.52B in long-term debt, D/E is 1.0and book value is $2.41B — moderate leverage. Over the past year, debt/equity is down 0% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $85.47M
TTM Free Cash Flow: $-177.13M
FCF Margin: -23.3%
FCF / Net Income: -1.0

TTM FCF of $-177.13M on $85.47M in operating cash flow. The FCF / Net Income ratio of -1.0x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 376% — a weakening trend.