FRT
FEDERAL REALTY INVESTMENT TRUST
Real Estate • CIK: 0000034903
Loading...
Market Cap
$8.08B
P/E (TTM)
24.1x
Rev Growth (TTM)
—
Net Margin (TTM)
27.4%
FCF Yield (TTM)
—
FCF Margin (TTM)
48.0%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$593M
Q2 '25
$151M-16%
Q1 '25
$179M+50%
FCF Margin
TTM48.0%
Q2 '2548.4%-16%
Sector: 32.2%Above Avg
OCF Margin–
OCF/NI1.75x
CapEx Coverage–
FCF Yield–
FCF Growth (2Y)–
Cash Conversion Cycle
–
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldEst.
Est.6.3%
Div Yield4.6%
+Est. Buyback1.6%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)4.6%
FCF Payout Ratio63.0%
Free Cash Flow (TTM)$593.4M
Est. Dividends Paid (TTM)$374.1M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
17.4%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
42.6%
Asset Turnover
0.14x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 6.2% ≈ 17.4% ROIC
Asset & CapEx Efficiency
Invested Cap Turn
0.41x
8Q:–
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $1.2B | $311.5M↑0.8% | $309.2M↓0.7% | $311.4M↑2.6% | $303.6M↑2.6% | $296.1M↑1.6% | $291.3M↓0.2% | $291.8M↑1.8% | $286.6M |
Operating Income | $526.0M | $202.7M↑87.5% | $108.1M↓1.1% | $109.3M↑3.3% | $105.8M↓32.6% | $157.0M↑56.7% | $100.2M↓7.9% | $108.8M↑8.7% | $100.1M |
Net Income | $338.1M | $153.9M↑149.2% | $61.8M↓2.8% | $63.5M↑7.8% | $58.9M↓46.4% | $110.0M↑100.9% | $54.7M↓11.9% | $62.1M↑12.8% | $55.0M |
Operating Cash Flow | $593.4M | $150.7M↓15.8% | $179.0M↑49.7% | $119.6M↓17.0% | $144.1M↓15.1% | $169.7M↑20.2% | $141.2M↑25.3% | $112.6M↓25.4% | $150.9M |
Free Cash Flow | $593.4M | $150.7M↓15.8% | $179.0M↑49.7% | $119.6M↓17.0% | $144.1M↓15.1% | $169.7M↑20.2% | $141.2M↑25.3% | $112.6M↓25.4% | $150.9M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
24.1x
Valuation Lenses
Earnings
24.1x
vs – sector
Cash Flow
15.0x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
1.4P/E per %ROIC
ROIC: 17.4%
Shareholder Returns
Dividend
4.6%
Buyback
–
Total Yield
–
Market Cap$8.08B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
83/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
10.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
17.4%
8Q:–
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 42.6%
Asset Turnover: 0.14x
Earnings Quality
Cash Conversion
1.75x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin100.0%
Capital Efficiency
Invested Capital Turnover0.41x
Working Capital
Cash Conversion Cycle–
Growth Quality & Momentum
Growth Rates
Revenue Growth YoY
N/A
OpInc Growth YoY
29.1%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
100.0%
Operating
42.6%
Above Avg in sector
Net
27.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+20.7 pts
FCF: 48.0% | Net: 27.4%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $203.62M
Interest Coverage
–
+Net cash position: $203.62M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis