Regency Centers Corporation

REG · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Valuation
Market cap	$12,626	$13,419	$12,367	$10,695	$12,901	$7,806	$10,802	$10,047	$11,845	$11,805	$11,663	$5,894	$4,231	$4,223	$3,304	$3,424	$2,694	$3,249	$4,447	$5,341	$3,823	$3,367	$2,356	$1,888	$1,597	$1,349	$1,088	$625	$593	$317	$114	$107
Enterprise value	$18,717	$18,551	$17,233	$15,002	$17,176	$12,022	$15,556	$14,266	$15,969	$13,522	$13,561	$7,863	$6,050	$6,178	$5,349	$5,561	$4,555	$5,140	$6,317	$6,966	$5,482	$4,899	$4,034	$3,586	$3,377	$2,974	$2,385	$1,165	$862	$480	$230	$215
P/E (TTM) at period end	24.57×	34.70×	34.40×	22.15×	35.70×	173.89×	45.11×	40.33×	74.05×	82.06×	90.42×	35.43×	32.86×	–	104.24×	–	–	21.83×	21.84×	24.44×	23.50×	24.70×	18.02×	17.09×	15.86×	15.39×	12.11×	12.36×	21.63×	31.80×	20.39×	19.77×
P/S (TTM) at period end	8.13×	9.23×	9.35×	8.74×	11.06×	7.68×	9.53×	8.96×	12.03×	19.21×	20.47×	10.96×	8.65×	8.91×	7.02×	7.31×	5.51×	6.59×	9.85×	12.71×	9.70×	8.59×	6.24×	4.97×	4.11×	3.73×	3.60×	4.36×	6.06×	6.75×	3.31×	3.73×
P/B at period end	1.83×	2.00×	1.76×	1.75×	2.14×	1.30×	1.74×	1.57×	1.77×	4.56×	5.68×	3.09×	2.30×	2.44×	1.83×	2.03×	1.44×	1.87×	2.38×	2.88×	2.14×	2.25×	1.84×	1.55×	1.31×	1.10×	0.87×	1.14×	1.15×	1.53×	0.78×	1.05×
EV / EBITDA (TTM)	12.25×	12.86×	13.22×	12.33×	27.23×	24.87×	20.90×	19.28×	27.83×	38.08×	38.58×	23.88×	20.42×	21.07×	17.87×	19.52×	11.81×	15.80×	18.55×	20.93×	19.41×	16.40×	15.78×	13.15×	12.33×	11.55×	11.08×	11.96×	13.27×	16.65×	4.10×	4.64×
EV / Sales (TTM)	12.05×	12.76×	13.03×	12.26×	14.73×	11.83×	13.73×	12.73×	16.22×	22.01×	23.80×	14.62×	12.37×	13.04×	11.37×	11.88×	9.31×	10.42×	13.99×	16.57×	13.91×	12.50×	10.68×	9.43×	8.69×	8.22×	7.90×	8.13×	8.81×	10.23×	6.66×	7.51×
Returns
Return on equity	7.4%	5.8%	5.1%	7.9%	6.0%	0.8%	3.9%	3.9%	2.4%	5.6%	6.3%	8.7%	7.0%	(0.4%)	1.8%	(0.7%)	(2.0%)	8.6%	10.9%	11.8%	9.1%	9.1%	10.2%	9.0%	8.3%	7.1%	7.2%	9.2%	5.3%	4.8%	3.8%	5.3%
Return on invested capital	8.6%	8.7%	8.0%	8.6%	3.2%	1.2%	3.3%	3.6%	2.2%	4.5%	5.2%	4.7%	4.5%	3.5%	4.0%	4.2%	7.1%	4.1%	6.6%	7.1%	5.2%	5.5%	6.1%	3.8%	3.3%	6.9%	6.5%	6.6%	6.2%	5.4%	18.9%	19.5%
Dividend yield	4.1%	3.7%	3.7%	4.0%	3.1%	3.9%	3.6%	3.7%	2.7%	1.9%	0.2%	3.3%	4.5%	4.5%	5.6%	4.3%	5.9%	6.1%	4.2%	3.0%	3.7%	3.8%	5.3%	6.3%	7.2%	8.1%	8.7%	7.9%	6.2%	5.1%	9.5%	8.3%
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.17×	1.11×	15.57×	15.06×	16.93×	12.82×	0.96×	0.21×	0.15×	0.28×	0.22×	0.26×	0.75×	1.70×	0.70×	1.40×
Debt / equity	–	–	–	1.22×	0.62×	0.66×	0.67×	0.60×	0.55×	0.64×	0.91×	1.06×	1.01×	1.16×	1.12×	1.24×	1.01×	1.06×	0.96×	0.85×	0.90×	1.00×	1.13×	1.09×	1.15×	1.07×	0.81×	1.00×	0.54×	0.83×	0.79×	1.06×
Effective tax rate	–	1.3%	0.3%	(0.0%)	0.3%	9.6%	0.7%	0.2%	(7.7%)	–	–	0.7%	–	22.4%	6.8%	(84.5%)	1.0%	32.0%	(4.6%)	(21.5%)	9.9%	23.5%	–	43.6%	51.4%	–	–	–	–	–	–	–
Share count
Diluted shares outstanding	182	183	176	172	171	169	168	170	160	101	95	92	91	90	88	83	77	70	69	69	65	61	60	59	58	57	54	29	22	12	7	6

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Revenue and gross profit
Revenue	$1,618	$1,554	$1,454	$1,322	$1,224	$1,166	$1,016	$1,133	$1,121	$984	$614	$570	$538	$489	$474	$470	$468	$489	$493	$452	$420	$394	$392	$378	$380	$389	$362	$302	$143	$98	$47	$34	$29
Cost of revenue	–	($860)	($433)	($395)	($346)	($327)	($313)	($306)	($306)	($254)	($161)	($145)	($137)	($125)	($120)	($73)	($70)	($66)	($59)	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Gross profit	–	$694	$1,070	$975	$925	$877	$735	$859	$854	$767	$484	$446	$419	$392	$378	$428	$416	$423	$434	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($106)	($99)	($101)	($98)	($80)	($78)	($75)	($75)	($65)	($68)	($65)	($149)	($60)	($132)	($128)	($125)	($129)	($54)	($47)	($51)	($45)	($38)	($30)	($24)	($23)	($21)	($20)	($19)	($15)	($10)	($6)	($5)	($5)
Total operating expenses	$290	$429	($23)	($24)	($28)	($550)	($597)	($489)	($474)	($528)	($292)	($242)	($234)	($228)	($212)	($261)	($254)	($156)	($217)	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total costs and expenses	($598)	($430)	($407)	($371)	($327)	($839)	($879)	($763)	($741)	($745)	($422)	($365)	($353)	($325)	($307)	($304)	($306)	($222)	($276)	($205)	($175)	($195)	($175)	($197)	($182)	($182)	($164)	($136)	($71)	($49)	($27)	$15	$12
Operating income	$1,020	$1,123	$1,047	$951	$897	$327	$137	$370	$380	$240	$193	$205	$185	$164	$166	$166	$162	$268	$217	$247	$245	$199	$217	$181	$198	$206	$198	$166	$72	$49	$20	$50	$41
Earnings
EBITDA	$1,443	$1,528	$1,442	$1,304	$1,216	$631	$483	$744	$740	$574	$355	$351	$329	$296	$293	$299	$285	$386	$325	$340	$333	$282	$299	$256	$273	$274	$257	$215	$97	$65	$29	$56	$46
Interest income	$116	$28	$28	$27	$26	$40	$2	$3	$1	–	$2	$2	$9	$2	$2	$2	$2	$4	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	–	($200)	($180)	($154)	($146)	($145)	($157)	($151)	($148)	($133)	($91)	($103)	($109)	($109)	($112)	($124)	($125)	($109)	($93)	($82)	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$430	$407	$360	$320	$428	$319	$13	$182	$209	$126	$167	$130	$157	$84	$59	$40	$2	$183	$219	$195	$180	$181	$178	–	$196	$207	–	–	–	–	–	–	–
Income tax expense	–	–	($5)	($1)	$0	($1)	($1)	($1)	($1)	$10	–	–	($1)	–	($13)	($3)	$1	($2)	($70)	$9	$39	($18)	($42)	($50)	($85)	($106)	($110)	($76)	($22)	($21)	($10)	($44)	($36)
Net income	$556	$527	$400	$365	$483	$361	$45	$239	$249	$176	$167	$153	$189	$148	$24	$49	$8	($37)	$149	$204	$219	$163	$136	$131	$111	$101	$88	$90	$51	$27	$10	$6	$5
Per share
Diluted EPS (GAAP)	–	$2.82	$2.11	$2.04	$2.81	$2.12	$0.26	$1.43	$1.46	$1.00	$1.42	$1.36	$1.80	–	–	$0.35	($0.14)	($0.48)	$1.66	$2.65	$2.89	$2.23	$2.03	$2.11	$1.81	$1.69	$1.08	$1.61	$1.75	$1.23	$0.82	$0.75	$0.80
Basic EPS (GAAP)	–	$2.82	$2.12	$2.04	$2.82	$2.12	$0.27	$1.43	$1.47	$1.00	$1.43	$1.37	$1.80	–	–	$0.35	($0.14)	($0.48)	$1.66	$2.65	$2.91	$2.25	$2.03	$2.11	$1.81	$1.70	$1.49	$1.61	$1.80	$1.28	$0.82	$0.75	$0.80
Basic shares outstanding	–	182	183	176	171	170	169	168	170	160	101	95	92	91	90	88	81	77	70	69	68	65	61	59	58	58	57	54	28	21	12	7	6
Margins
Gross margin	–	44.7%	73.6%	73.7%	75.6%	75.2%	72.3%	75.8%	76.2%	78.0%	78.9%	78.3%	77.8%	80.2%	79.8%	90.9%	88.9%	86.5%	88.0%	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating margin	63.0%	72.3%	72.0%	71.9%	73.3%	28.1%	13.5%	32.6%	33.9%	24.3%	31.4%	35.9%	34.3%	33.6%	35.1%	35.4%	34.6%	54.7%	44.1%	54.7%	58.4%	50.5%	55.3%	47.9%	52.1%	53.1%	54.8%	55.0%	50.5%	49.7%	42.8%	143.8%	143.4%
Net margin	34.4%	34.0%	27.5%	27.6%	39.4%	31.0%	4.4%	21.1%	22.2%	17.9%	27.2%	26.8%	35.1%	30.3%	5.0%	10.4%	1.7%	(7.5%)	30.2%	45.1%	52.0%	41.3%	34.8%	34.6%	29.1%	25.9%	24.2%	29.8%	35.3%	28.0%	21.2%	16.2%	18.9%

Analyst consensus

Buy33 analysts

Bearish · 1 · Hold · 13 · Bullish · 19

Earnings history

	EPS	Estimate
Q3 2024	$0.54	$0.46	Beat
Q4 2024	$0.46	$0.48	Miss
Q1 2025	$0.58	$0.56	Beat
Q2 2025	$0.57	$0.55	Beat
Q3 2025	$0.58	$0.56	Beat
Q4 2025	$1.17	$0.58	Beat
Q1 2026	$0.68	$0.62	Beat
Q2 2026	$0.61	$0.59	Beat

Peers

Company overview

IPO dateOct 29, 1993

CEOLisa Palmer

Employees505

SectorReal Estate

IndustryREIT - Retail

CountryUS

ExchangeNASDAQ Global Select

Websitewww.regencycenters.com

Regency Centers is recognized as a leading national entity specializing in the ownership, management, and development of retail complexes. These properties are strategically located in prosperous and densely populated market regions. The company's portfolio showcases a collection of thriving sites, expertly curated with high-performing supermarkets, popular eateries, essential service businesses, and premier retailers, all deeply integrated with their local neighborhoods, communities, and clientele. Operating as a comprehensive real estate firm, Regency Centers is a qualified Real Estate Investment Trust (REIT), characterized by its self-administered and self-managed structure, and is a respected constituent of the S&P 500 Index.

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