Latest Ratios: P/E Ratio 28.6x · EV/EBITDA 21.0x · ROE 7.5%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.8B | $12.6B | $13.5B | $11.8B | $10.7B | $12.9B | $7.7B | $10.6B | $10.0B | $11.1B | $7.0B |
| Enterprise Value | $20.6B | $18.4B | $18.5B | $16.5B | $15.0B | $17.1B | $11.9B | $15.3B | $14.1B | $15.2B | $8.7B |
| P/E Ratio → | 28.63 | 24.48 | 35.04 | 32.84 | 22.24 | 35.54 | 175.35 | 44.12 | 40.19 | 69.18 | 48.56 |
| P/S Ratio | 9.51 | 8.09 | 9.00 | 8.63 | 8.45 | 10.68 | 7.37 | 9.09 | 8.60 | 10.84 | 10.81 |
| P/B Ratio | 2.05 | 1.75 | 1.96 | 1.64 | 1.74 | 2.11 | 1.28 | 1.68 | 1.55 | 1.64 | 2.66 |
| P/FCF | 37.52 | 31.93 | 30.25 | 22.48 | 21.39 | 32.43 | 14.76 | 26.42 | 17.68 | 77.47 | 127.49 |
| P/OCF | 17.83 | 15.17 | 17.12 | 16.39 | 16.34 | 19.51 | 15.48 | 17.04 | 16.35 | 23.49 | 24.13 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.84 | 12.30 | 12.07 | 11.77 | 14.18 | 11.33 | 13.11 | 12.19 | 14.84 | 13.42 |
| EV / EBITDA | 21.01 | 18.76 | 13.79 | 13.77 | 13.08 | 15.81 | 12.30 | 13.70 | 12.69 | 34.68 | 32.23 |
| EV / EBIT | 35.79 | 25.25 | 32.57 | 32.01 | 28.82 | 34.76 | 39.44 | 37.95 | 33.67 | 42.44 | 34.77 |
| EV / FCF | — | 46.69 | 41.35 | 31.45 | 29.82 | 43.03 | 22.68 | 38.10 | 25.06 | 106.08 | 158.22 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.7% | 44.7% | 71.2% | 71.2% | 72.8% | 72.9% | 70.1% | 73.7% | 73.6% | 75.2% | 75.0% |
| Operating Margin | 37.0% | 37.0% | 64.4% | 64.0% | 66.5% | 66.4% | 63.0% | 67.3% | 68.0% | 12.3% | 17.1% |
| Net Profit Margin | 33.9% | 33.9% | 26.6% | 26.6% | 38.0% | 30.0% | 4.3% | 20.6% | 21.5% | 17.2% | 25.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.5% | 7.5% | 5.7% | 5.5% | 7.9% | 5.9% | 0.7% | 3.8% | 3.8% | 3.8% | 7.0% |
| ROA | 4.2% | 4.2% | 3.2% | 3.1% | 4.5% | 3.3% | 0.4% | 2.2% | 2.3% | 2.3% | 3.8% |
| ROIC | 3.5% | 3.5% | 6.1% | 5.9% | 6.1% | 5.8% | 4.7% | 5.4% | 5.5% | 1.2% | 2.0% |
| ROCE | 4.7% | 4.7% | 8.1% | 7.8% | 8.0% | 7.6% | 6.2% | 7.4% | 7.6% | 1.8% | 2.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.83 | 0.83 | 0.73 | 0.67 | 0.70 | 0.70 | 0.75 | 0.76 | 0.65 | 0.61 | 0.65 |
| Debt / EBITDA | 6.05 | 6.05 | 3.74 | 4.00 | 3.75 | 3.98 | 4.68 | 4.30 | 3.78 | 9.46 | 6.31 |
| Net Debt / Equity | — | 0.81 | 0.72 | 0.66 | 0.68 | 0.69 | 0.68 | 0.74 | 0.65 | 0.61 | 0.64 |
| Net Debt / EBITDA | 5.93 | 5.93 | 3.70 | 3.93 | 3.70 | 3.90 | 4.29 | 4.20 | 3.74 | 9.35 | 6.26 |
| Debt / FCF | — | 14.76 | 11.09 | 8.97 | 8.43 | 10.60 | 7.92 | 11.68 | 7.38 | 28.61 | 30.73 |
| Interest Coverage | 3.44 | 3.44 | 3.00 | 3.32 | 3.55 | 3.38 | 1.95 | 2.85 | 2.97 | 2.69 | 2.99 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.05 | 1.05 | 0.73 | 0.64 | 0.81 | 0.85 | 1.84 | 0.76 | 0.75 | 0.29 | 0.38 |
| Quick Ratio | 1.05 | 1.05 | 0.73 | 0.64 | 0.81 | 0.85 | 1.84 | 0.76 | 0.75 | 0.29 | 0.38 |
| Cash Ratio | 0.32 | 0.32 | 0.12 | 0.17 | 0.21 | 0.29 | 1.24 | 0.26 | 0.12 | 0.05 | 0.03 |
| Asset Turnover | — | 0.12 | 0.12 | 0.11 | 0.12 | 0.11 | 0.10 | 0.10 | 0.11 | 0.09 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.5% | 4.1% | 3.6% | 3.8% | 4.0% | 3.1% | 3.9% | 3.7% | 3.8% | 2.9% | 2.9% |
| Payout Ratio | 97.0% | 97.0% | 122.5% | 124.3% | 88.7% | 111.5% | 669.5% | 163.1% | 150.9% | 183.2% | 121.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 4.1% | 2.9% | 3.0% | 4.5% | 2.8% | 0.6% | 2.3% | 2.5% | 1.4% | 2.1% |
| FCF Yield | 2.7% | 3.1% | 3.3% | 4.4% | 4.7% | 3.1% | 6.8% | 3.8% | 5.7% | 1.3% | 0.8% |
| Buyback Yield | 0.1% | 0.1% | 1.6% | 0.3% | 0.8% | 0.0% | 0.1% | 0.4% | 2.2% | 0.2% | 0.1% |
| Total Shareholder Yield | 3.5% | 4.1% | 5.2% | 4.1% | 4.8% | 3.2% | 4.0% | 4.1% | 6.0% | 3.1% | 3.0% |
| Shares Outstanding | — | $182M | $183M | $176M | $172M | $171M | $169M | $168M | $170M | $160M | $101M |
Rising capital intensity requirements
According to quarterly financial data, Regency Centers' NOI margin experienced a sharp contraction from a peak of 72.6% in 2025Q2 to just 18.5% by 2026Q1, suggesting that the company is struggling to maintain property-level profitability amidst rising operating costs and potential integration challenges.
The significant decline in NOI margin indicates that the company's ability to pass through property-level expenses to tenants may be weakening. Investors should monitor whether this margin compression is a temporary result of recent portfolio expansion or a structural shift in the cost-recovery profile of the assets.
Based on reported figures, the FFO payout ratio reached 117.4% in 2026Q1, which represents a concerning departure from the more sustainable 31.2% observed in 2025Q4 and suggests that current dividend distributions may be exceeding the company's ability to generate sufficient recurring cash flow.
A payout ratio exceeding 100% of FFO implies that the dividend is currently being supported by non-recurring sources or balance sheet liquidity rather than organic cash generation. This trend warrants close investigation, as it may indicate that the dividend is no longer covered by the core operational performance of the portfolio.
As reported in recent financial statements, the debt-to-equity ratio climbed to 0.78 in 2026Q1 from 0.67 in 2023Q4, indicating that the firm is increasingly relying on debt financing to support its property-level operations and recent portfolio acquisitions in a high-interest rate environment.
While the balance sheet remains relatively healthy, the upward trend in leverage suggests a shift toward a more aggressive capital structure. Investors should monitor the interest coverage ratio, which has shown volatility, to ensure that the company maintains sufficient cushion to service its debt obligations during periods of earnings fluctuation.
Financial statements indicate that the gap between FFO and AFFO, particularly in 2026Q1 where AFFO was significantly lower than FFO, suggests that the standard P/FFO metric commonly used by the market obscures the high maintenance capital expenditures required to sustain the company's infill retail portfolio.
The market's reliance on P/FFO is misleading because it ignores the recurring cash drain of tenant improvements and leasing commissions necessary to keep the centers competitive. Analysts should prioritize P/AFFO as a more accurate valuation metric to account for the true cash-generating capacity of the underlying real estate assets.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying REG stock.
Regency Centers Corporation's current P/E ratio is 28.6x. The historical average is 39.8x. This places it at the 52th percentile of its historical range.
Regency Centers Corporation's current EV/EBITDA is 21.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.8x.
Regency Centers Corporation's return on equity (ROE) is 7.5%. The historical average is 6.0%.
Based on historical data, Regency Centers Corporation is trading at a P/E of 28.6x. This is at the 52th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Regency Centers Corporation's current dividend yield is 3.48% with a payout ratio of 97.0%.
Regency Centers Corporation has 44.7% gross margin and 37.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Regency Centers Corporation's Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.