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Tanger Inc.

SKT Real Estate Reit Retail

Tanger Inc.’s revenue for fiscal 2025 (year ended December 2025) was $581.6 million, up 10.5% from fiscal 2024. In the quarter to June 2026, revenue grew 11.2%, EPS grew 7.41%, free cash flow fell 86.2% and total debt rose 22.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three.

35.43 0.12 +0.34%
Market cap
$4.1B
P/E
31.9×
Fwd P/E
35.3×
Dividend yield
3.42%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 1.47
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 2 1 — 1 — — — — —
Insider Ownership 2.11%

Capital & Financial Ratios $m

Market Cap 4,060.00
Revenue 612.31
Net Income 132.19
Free Cash Flow 114.82
Net Debt 1,633.08
Current Ratio 2.12
Debt/Equity 2.65
P/E ratio 31.92
Fwd P/E 35.30 (above 35: high)
P/S ratio 6.62
P/B ratio 5.78
Past 5Y EPS Growth —
This Y EPS Growth 3.08%
Next Y EPS Growth 9.37%
Next Y revenue growth 3.43%
Next 5Y EPS Growth 2.82%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.3×, against a ten-year median of 8.1×; over the ten years it ranged from 4.3× in 2020 to 12.4× in 2016.
P/E against its own 10 years 53.04%
10-year low 10-year high
P/S against its own 10 years 74.49%
10-year low 10-year high
P/B against its own 10 years 90.12%
10-year low 10-year high
EV/Sales against its own 10 years 69.89%
10-year low 10-year high
EV/FCF against its own 10 years 78.25%
10-year low 10-year high

Dividends

Payout Ratio 1.10
Annual Dividend Rate 1.21
Annual Dividend Yield 3.42%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.23
0.29
0.31
0.31
2025 1.15
0.28
0.29
0.29
0.29
2024 1.09
0.26
0.28
0.28
0.28
2023 0.97
0.22
0.25
0.25
0.26
2022 0.80
0.18
0.20
0.20
0.22
2021 0.72
0.18
0.18
0.18
0.18
2020 0.71
0.36
0.36
2019 1.42
0.35
0.36
0.36
0.36
2018 1.39
0.34
0.35
0.35
0.35
2017 1.35
0.33
0.34
0.34
0.34
2016 1.26
0.29
0.33
0.33
0.33
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 22 47 54 228
Receivables — — — —
Inventory — — — —
Other — — — —
22 47 54 228
2023 2024 2025 Q'26
Payables 119 108 133 108
ST’ Debt — — — —
Other — — — —
119 108 133 108

Compound Annual Growth %

10y 5y 3y
Sales 2.84% 8.32% 9.53%
Cash Flow 2.95% 12.39% 11.35%
Earnings (5.81%) 0.00% 11.83%
Book Value 1.95% 15.42% 12.67%

Revenue $m

Mar Jun Sep Dec Year
’26 150 156 — — —
’25 135 141 145 160 582
’24 123 129 133 141 526
’23 109 111 117 127 464
’22 109 106 111 116 443
’21 101 101 112 112 427
’20 112 64 103 111 390
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 36 93 — — —
’25 41 82 74 98 295
’24 31 73 65 92 261
’23 26 73 53 77 230
’22 19 70 34 91 214
’21 31 60 52 74 218
’20 27 (13) 78 73 165
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 14 11 — — —
’25 (134) 77 35 55 33
’24 4 45 40 (12) 77
’23 (1) 26 0 (254) (229)
’22 11 63 12 70 156
’21 32 55 40 51 177
’20 16 (19) 78 67 142
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.24 0.29 — — —
’25 0.17 0.26 0.28 0.29 0.99
’24 0.20 0.22 0.22 0.23 0.88
’23 0.21 0.23 0.26 0.22 0.92
’22 0.19 0.19 0.22 0.17 0.77
’21 0.04 0.02 (0.11) 0.12 0.08
’20 (0.30) (0.25) 0.14 0.00 (0.40)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 29.46 21.81 19.84 13.61 4.05 9.62 13.26 17.22 25.67 28.69

Analyst estimates 2026–2028

Powerpack
High 42.20 37.34 26.65 23.14 16.93 22.51 20.29 28.77 37.57 36.76
People
People Employees 659 640 643 636 527 573 603 407 425 477
Revenue/emp, $m 0.71 0.76 0.77 0.75 0.74 0.74 0.73 1.14 1.24 1.22
Income, $m
Income, $m Revenue 466 488 495 478 390 427 443 464 526 582
Gross margin, % 67.37 68.20 67.56 67.03 64.84 67.00 67.48 68.66 69.83 69.65
EBT 193 70 45 85 (39) 1 77 96 91 106
EBT margin, % 41.53 14.32 9.02 17.75 (10.04) 0.15 17.45 20.59 17.39 18.21
Net income 204 72 46 93 (38) 10 86 104 103 120
Depreciation 123 134 138 128 124 115 117 113 143 155
Per share, $
Per share, $ Revenue 4.90 5.17 5.30 5.15 4.00 4.05 4.08 4.44 4.81 5.14
Earnings 2.02 0.71 0.45 0.93 (0.40) 0.08 0.78 0.94 0.89 1.01
Cash flow 2.52 2.68 2.77 2.38 1.69 2.07 1.97 2.19 2.39 2.61
Capex (1.50) (1.44) (0.70) 0.86 (0.23) (0.38) (0.53) (4.38) (1.69) (2.32)
Free cash flow 1.01 1.24 2.07 3.23 1.46 1.69 1.44 (2.19) 0.70 0.29
Book value 7.42 6.48 5.42 4.91 3.68 4.75 4.74 5.65 6.22 6.50
Shares, m 95 95 93 93 98 105 108 105 109 113
Valuation, ×
Valuation, × P/E 17.94 37.53 44.93 15.84 0.00 241.00 22.71 30.34 37.92 33.04
P/S 7.36 5.09 3.81 2.86 2.49 4.76 4.34 6.29 7.09 6.49
P/B 4.86 4.05 3.73 3.00 2.71 4.06 3.74 4.94 5.49 5.14
EV/Sales 10.96 8.68 7.26 6.10 6.29 7.65 6.97 9.34 9.71 9.15
EV/FCF 52.91 36.17 18.63 9.74 17.29 18.39 19.74 (18.94) 66.74 161.34
Cash, $m
Cash, $m Operating cash flow 239 253 258 220 165 218 214 230 261 295
Capex (143) (136) (66) 79 (23) (40) (58) (459) (184) (262)
Free cash flow 96 117 193 300 142 177 156 (229) 77 33
Balance, $m
Balance, $m Working capital (66) (84) (74) (63) (3) 68 160 (97) (61) (80)
Total debt 1,688 1,764 1,713 1,570 1,568 1,397 1,428 1,439 1,424 1,597
Net debt 1,676 1,758 1,704 1,553 1,483 1,236 1,164 1,417 1,377 1,543
Shareholders’ equity 705 612 506 456 359 500 514 591 680 735
Returns, %
Returns, % ROA 7.92 2.64 1.77 3.76 (1.62) 0.42 3.75 4.37 4.19 4.56
ROIC 3.97 4.24 3.07 3.29 0.70 3.71 4.29 4.16 4.58 4.69
ROE 29.25 10.14 7.81 18.27 (8.90) 2.12 16.19 17.94 15.51 16.23
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Tanger Inc. vs peers in Reit Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MAC Macerich Company (The) $6.8B — (loss-making) — (loss-making) −0.03% (below 0%: shrinking) n/m −57.87% (below 0%: shrinking) 53.67% 15.35% Compare
EPRT Essential Properties Realty Trust, Inc. $5.7B 20.2× 23.2× +18.11% (above 0%: growing) +6.25% (above 0%: growing) +28.34% (above 0%: growing) 99.33% 64.50% Compare
PECO Phillips Edison & Company, Inc. $5.4B 33.2× 51.7× +6.68% (above 0%: growing) +230.00% (above 0%: growing) +147.93% (above 0%: growing) 71.21% 28.80% Compare
KRG Kite Realty Group Trust $4.9B 15.1× 79.4× −8.03% (below 0%: shrinking) +60.00% (above 0%: growing) −21.08% (below 0%: shrinking) 73.01% 23.52% Compare
SKT Tanger Inc. $4.1B 31.9× 35.3× +11.15% (above 0%: growing) +7.41% (above 0%: growing) −86.16% (below 0%: shrinking) 70.92% 30.98%
CURB Curbline Properties Corp. $3.1B 98.2× 183× +52.88% (above 0%: growing) −40.00% (below 0%: shrinking) −167.77% (below 0%: shrinking) 87.51% 19.18% Compare
AKR Acadia Realty Trust $2.6B 54.7× 54.2× −5.14% (below 0%: shrinking) +400.00% (above 0%: growing) +93.19% (above 0%: growing) 68.80% 23.76% Compare
UE Urban Edge Properties $2.6B 36.1× 42.4× +7.62% (above 0%: growing) −69.57% (below 0%: shrinking) −84.13% (below 0%: shrinking) 70.52% 31.44% Compare
FCPT Four Corners Property Trust, Inc. $2.4B 19.8× 20.9× +7.65% (above 0%: growing) −3.57% (below 0%: shrinking) +15.78% (above 0%: growing) 85.43% 55.08% Compare
Median of peers $4.0B 33.2× 51.7× +7.15% +6.25% −2.65% 72.11% 26.28%

All 26 Reit Retail stocks →

Tanger Inc. (SKT) key facts

  • Strength: Tanger Inc.’s revenue for fiscal 2025 (year ended December 2025) was $581.6 million, up 10.5% from fiscal 2024.
  • Strength: Net income was $119.5 million, or $1.01 per share (basic), a net margin of 19.7%.
  • Tanger Inc. (SKT) is a Reit Retail company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, SKT traded at $35.43, a market capitalization of $4.1 billion.
  • At that price the stock trades at 31.9× trailing-twelve-month earnings and 6.6× sales; its P/E is higher than 53% of its own readings over the past ten years.
  • Tanger Inc. pays an annual dividend of $1.21 per share, a yield of 3.42%, with a payout ratio of 110.0%.
  • Return on equity was 16.2% and debt-to-equity 2.65.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Tanger Inc. (SKT) Latest News

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stockrow.com/SKT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com