Tanger (SKT) Stock Fundamentals, Analysis & Risk Signals

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

Tanger

NYSE•Real Estate•REIT - Retail

$35.77-0.44(-0.01%)Pre-market

Market Cap

$4.09B

P/E

31.1x

P/S

6.7x

P/B

6.1x

Tanger Inc. is a leading owner and operator of outlet and other open-air retail shopping destinations, with 45 years of expertise in the retail and outlet shopping industries. Tanger's portfolio of 38 outlet centers and four open-air lifestyle centers includes nearly 17 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. Tanger is furnishing a Form 8-K with the SEC that includes a supplemental information package for the quarter ended June 30, 2026. Tanger Inc. was established in 1981 and was incorporated in North Carolina.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (7/25).

Profitability25/25

Growth20/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality19/25

Strengths

Strong marginsHigh ROERising earningsProfit converts from growth

Valuation vs. 5-year range

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

P/E · 31.1x5y range 30.2x – 345.7x

Currently near its 19-quarter median.

P/S · 6.7x5y range 6.3x – 7.7x

Currently near its 20-quarter median.

P/B · 6.1x5y range 5.3x – 7.1x

Watch items

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

High Risk

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

D/E ratio of 2.8 is elevated and rising. Watch for further debt accumulation.

Price & Volume

Market Cap $4.09B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $612.31M
Q. Revenue: $156.39M
TTM EBITDA: $344.48M
TTM Op. Income: $184.93M
Q. Op. Income: $48.45M
TTM Net Income: $131.72M
Q. Net Income: $33.24M
EPS: $0.29
Shares Out.: $114.45M

$612.31M in TTM revenue grew 11.4% YoY, reaching $156.39M last quarter. TTM EBITDA of $344.48M and TTM operating income of $184.93M show growth is flowing through to the bottom line. TTM net income of $131.72M 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

Gross Margin: 70.9%
EBITDA Margin: 57.8%
Op. Margin: 31.0%
Net Margin: 21.3%

Op. margin of 31.0% is down 0.8% YoY — costs are rising relative to revenue. Net margin at 21.3% and gross margin of 70.9% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 3% — an improving trend.

Price Ratios

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

P/E Ratio: 31.1x
P/S Ratio: 6.7x
P/B Ratio: 6.1x

At 31.1x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 6.7x and P/B of 6.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 5% — a weakening trend.

Assets & Liabilities

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

Total Assets: $2.86B
Cash: $176.88M
Long-Term Debt: $1.86B
Book Value: $673.97M
D/E Ratio: 2.8
Debt/EBITDA: 20.6

With $2.86B in assets and $1.86B in long-term debt, D/E is 2.8and book value is $673.97M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 15% — an improving trend.

Cash Flow

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

Op. Cash Flow: $93.46M
TTM Free Cash Flow: $114.87M
FCF Margin: 18.8%
FCF / Net Income: 0.9

TTM FCF of $114.87M on $93.46M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 347% — a weakening trend.