Federal Realty Investment Trust key statistics and ratios

In fiscal 2025, Federal Realty Investment Trust had return on equity of 12.8%, an operating margin of 47.1% and debt equal to 152.8% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Federal Realty Investment Trust: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Operating margin	39.6%	42.3%	41.1%	41.9%	39.9%	39.5%	40.3%	40.0%	47.8%	39.5%	50.3%	34.7%	41.5%	49.0%	35.9%	39.3%	47.1%	47.7%
Net margin	18.6%	22.7%	26.1%	25.1%	25.5%	24.0%	28.3%	31.2%	33.8%	26.4%	37.8%	15.8%	27.5%	35.9%	20.9%	24.6%	32.1%	32.6%
Free-cash-flow margin	43.7%	40.2%	35.2%	40.5%	42.0%	43.7%	43.4%	46.2%	44.5%	49.2%	40.5%	44.3%	49.6%	48.1%	49.1%	47.8%	48.7%	48.2%
Return on equity	8.3%	10.8%	12.5%	12.1%	11.9%	10.8%	12.9%	13.7%	13.7%	10.5%	14.5%	5.3%	10.4%	13.9%	8.0%	9.6%	12.8%	13.6%
Return on assets	3.1%	3.8%	4.2%	4.0%	4.0%	3.8%	4.5%	4.8%	5.0%	3.9%	5.4%	1.8%	3.4%	4.9%	2.8%	3.5%	4.7%	4.8%
Asset turnover	0.16	0.17	0.16	0.16	0.16	0.16	0.16	0.16	0.15	0.15	0.14	0.12	0.12	0.14	0.14	0.14	0.14	0.15
Debt to equity	45.8%	161.4%	173.5%	171.6%	160.3%	150.2%	157.9%	141.6%	144.9%	137.7%	132.9%	174.8%	157.5%	147.1%	155.8%	141.8%	152.8%	119.5%
Interest cover (operating income ÷ interest)	1.9x	2.2x	2.3x	2.2x	2.4x	2.9x	3.2x	3.4x	4.1x	3.3x	4.3x	2.1x	3.1x	3.8x	2.4x	2.7x	3.3x	3.3x
Capital spending as % of revenue	4.9%	7.1%	9.2%	8.5%	7.4%	6.7%	6.2%	7.2%	9.0%	7.2%	8.9%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Free cash flow ÷ net income	234.7%	177.6%	134.9%	161.5%	164.4%	182.2%	153.6%	148.1%	131.7%	186.2%	107.1%	280.9%	180.3%	134.1%	234.5%	194.6%	151.4%	147.9%

US$ thousands unless shown otherwise. Fiscal quarters.

Federal Realty Investment Trust: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Operating margin	35.1%	35.0%	65.1%	34.3%	53.8%	61.3%	41.3%	34.5%
Net margin	21.0%	20.6%	50.0%	19.1%	38.6%	46.6%	25.5%	19.5%
Free-cash-flow margin	38.4%	57.9%	48.4%	45.9%	43.1%	54.1%	45.8%	49.8%
Debt to equity	141.8%	—	—	—	152.8%	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

70 /100

Strong moat

How hard Federal Realty Investment Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 4 / 20

Net income has been a median 3.9% of total assets over 10 years.
Durability 20 / 20

Operating margin has been a median 40.6%; its worst year was 36.7%.
Cash conversion 20 / 20

Free cash flow was positive in 10 of 10 years, at a median 20.5% of revenue.
Discipline 12 / 20

The diluted share count rose 12.7% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Federal Realty Investment Trust's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Federal Realty Investment Trust.