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Wheeler Real Estate Investment Trust, Inc.

WHLR Real Estate Reit Retail

Wheeler Real Estate Investment Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $99.4 million, down 4.90% from fiscal 2024.

Revenue
−13.9%
EPS
+100.6%
Free cash flow
+19.1%
Total debt
−4.02%

Quarter to June 2026, against a year earlier

0.38 0.08 −17.39%
Market cap
$440.0K
P/E
0.0×
Fwd P/E
−0.6×
Dividend yield
—
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.11
Sold, $m 0.19
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 2 — 1 — —
Sell — — — 2 4 — — 1 — 2 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 0.44
Revenue ttm 95.47
Net income ttm 22.04
Free cash flow ttm 54.44
Net debt Q 398.32
Valuation
P/E 0.00
Forward P/E (0.63) (negative: loss-making)
Price / sales 0.00
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 5.16
Debt / equity Q 4.45
Interest coverage Q 1.32
Growth
Revenue growth Q −13.89% (below 0%: shrinking)
Operating income growth Q −29.73% (below 0%: shrinking)
EPS, this year −397.50% (below 0%: weak)
EPS, next year A —
Revenue, next year A +24.29% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.2×, against a ten-year median of 105,997,885,069×; over the ten years it ranged from 4.0× in 2024 to 1,268,062,285,129× in 2016.
EV/Sales against its own 10 years 8.72%
10-year low 10-year high
EV/FCF against its own 10 years 7.55%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–22
−100.0%/yr
  1. 0.65 ’16
  2. 4.06 ’17 +527
  3. 0.00 ’18 −100
  4. 0.00 ’19
  5. 0.00 ’20
  6. 0.00 ’21
  7. 0.00 ’22
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 40 61 49 60
Receivables — — — —
Inventory — — — —
Other — — — —
53 75 64 74
2023 2024 2025 Q'26
Payables 17 17 15 14
ST’ Debt — — — —
Other — — — —
17 17 15 14

Compound Annual Growth %

10y 5y 3y
Sales 13.67% 10.27% 9.07%
Cash Flow 0.00% 6.01% (11.76%)
Earnings 0.00% 0.00% 0.00%
Book Value (1.25%) (3.37%) (14.70%)

Earnings Trends EPS, adjusted, against the consensus

Q4 FY17 Estimate 24,150,904,832.00 Actual 11,749,089,280.00

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY17 22,845,450,240.00 26,109,085,696.00 Beat by 3,263,635,456.00
Q3 FY17 26,109,085,696.00 30,025,449,472.00 Beat by 3,916,363,776.00
Q4 FY17 24,150,904,832.00 11,749,089,280.00 Miss by 12,401,815,552.00

EPS $

Mar Jun Sep Dec Year
’26 (10.48k) 8.64 — — —
’25 (10.24m) (615.78k) (10.76k) (5.77k) (77.78k)
’24 (2.46k) (747.97m) (1.68b) (8.60m) (748.41m)
’23 (1000.00m) (1000.00m) (199.94b) 3.57b (29.84b)
’22 (1000.00m) (1000.00m) (1000.00m) (1000.00m) (22.04)
’21 (0.42) (1000.00m) (1000.00m) (1000.00m) (1.36)
’20 (1000.00m) (1000.00m) (1000.00m) 0.12 (0.96)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 24 22 — — —
’25 24 26 24 25 99
’24 26 26 25 28 105
’23 26 25 25 26 102
’22 15 15 19 27 77
’21 15 15 16 16 61
’20 16 15 15 15 61
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 4 8 — — —
’25 4 9 5 2 21
’24 5 8 7 5 26
’23 4 8 4 6 21
’22 3 7 18 3 31
’21 5 5 5 3 17
’20 3 4 6 2 16
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 8 21 — — —
’25 21 18 1 24 63
’24 1 6 16 19 42
’23 0 5 2 (3) 4
’22 4 5 15 9 33
’21 8 4 6 4 22
’20 5 4 5 4 18
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 44 59 65 63 61 61 77 102 105 99 95 +9.4% — — — —
Gross margin, % 69.51 72.13 71.58 69.68 69.04 68.00 66.43 65.92 66.26 66.77 66.90 (2.7) pt
EBT (13) (14) (18) (8) 0 (9) (8) 6 1 15 22 n/m
EBT margin, % (29.34) (24.19) (27.22) (12.87) 0.47 (15.25) (11.05) 5.99 0.68 14.95 23.09 +44.3 pt
Net income (12) (13) (17) (8) 0 (9) (8) 6 1 15 22 n/m
Per share, $
Per share, $ Revenue 5.24 6.76 7.05 6.53 6.29 6.31 78.53 102,325,000,000.00 3,532,905,405.41 2,009,326.82 50,248.95 +317.2%
Earnings (1.89) (2.54) (3.17) (2.34) (0.96) (1.36) (22.04) (29,842,275,960.00) (748,406,260.80) (77,797.15) 225,591.31 +225.6%
Cash flow 1.32 2.75 2.38 1.58 1.63 1.75 31.51 20,934,000,000.00 877,972,972.97 426,980.69 10,670.00 +309.5%
Capex (0.06) (0.35) 0.08 0.09 0.23 0.53 2.05 (17,262,000,000.00) 539,864,864.86 851,395.28 17,982.11 n/m
Free cash flow 1.26 2.40 2.45 1.67 1.86 2.28 33.56 3,672,000,000.00 1,417,837,837.84 1,278,375.97 28,652.11 +365.0%
Book value 18.73 14.31 13.10 11.71 11.59 9.92 156.30 141,528,000,000.00 3,941,013,513.51 1,913,270.31 54,145.79 +260.2%
Shares, m 8 9 9 10 10 10 1 0 0 0 0 (73.8%)
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 1,004,312,973,964.99 529,583,283,120.77 49,515,474,926.87 98,421,741,528.12 172,582,808,973.07 120,438,653,723.28 7,036,746,116.12 0.42 0.00 0.00 0.00 198,189,168,235.4
P/B 692,910,991,630.37 1,060,597,970,352.89 1,153,505,576,677.87 0.00 0.00 0.00 95,120,177,437.35 0.00 0.00 0.00 0.00 300,213,471,609.8
EV/Sales 1,004,312,973,971.59 529,583,283,125.81 49,515,474,932.11 98,421,741,533.17 172,582,808,977.85 120,438,653,728.06 7,036,746,121.47 4.69 4.03 4.22 4.17 198,189,168,240.3
EV/FCF 4,184,005,748,168.42 1,490,559,093,992.85 142,352,901,395.89 385,042,678,149.17 584,340,850,090.25 333,488,115,801.07 16,465,118,038.83 130.80 10.05 6.63 7.32 713,625,450,578.4
Cash, $m
Cash, $m Operating cash flow 11 24 22 15 16 17 31 21 26 21 20 +7.4%
Capex 0 (3) 1 1 2 5 2 (17) 16 42 34 n/m
Free cash flow 11 21 23 16 18 22 33 4 42 63 54 +22.0%
Balance, $m
Balance, $m Working capital 24 14 16 19 41 39 51 36 58 50 60 +8.3%
Net debt 291 295 342 319 291 293 410 438 422 420 398 +4.1%
Shareholders’ equity 158 124 121 113 112 96 153 142 117 95 103 (5.5%)
Returns, %
Returns, % ROA (3.99) (4.66) (6.07) (4.57) (1.91) (2.77) (3.74) (4.32) (3.35) (0.61) 1.63 +3.4 pt
ROIC (0.04) 0.23 0.33 1.57 2.85 3.13 2.73 3.17 4.36 5.25 4.59 +5.3 pt
ROE (20.69) (47.33) (183.12) 356.11 46.08 42.29 133.73 (1,159.74) 320.38 41.67 (80.53) +62.4 pt
People
People Employees 55 53 50 47 35 36 47 52 56 49 — (1.3%)
Revenue/emp, $m 0.80 1.10 1.31 1.34 1.74 1.70 1.63 1.97 1.87 2.03 — +10.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Wheeler Real Estate Investment Trust, 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
IVT InvenTrust Properties Corp. $2.5B 85.4× 242× +16.99% (above 0%: growing) +211.25% (above 0%: growing) +118.86% (above 0%: growing) 72.94% 17.51% Compare
NTST NETSTREIT Corp. $2.4B 87.1× 55.6× +37.17% (above 0%: growing) +981.08% (above 0%: growing) −47.21% (below 0%: shrinking) 91.03% 35.20% Compare
GTY Getty Realty Corporation $1.9B 17.4× 18.3× +13.31% (above 0%: growing) 0.00% −1,107.74% (below 0%: shrinking) 95.96% 61.69% Compare
CBL CBL & Associates Properties, Inc. $1.5B 6.7× 15.6× +3.96% (above 0%: growing) +1,775.00% (above 0%: growing) +40.87% (above 0%: growing) 65.39% 30.53% Compare
ALX Alexander's, Inc. $1.3B 6.7× — (loss-making) +34.88% (above 0%: growing) +359.66% (above 0%: growing) +202.17% (above 0%: growing) 64.08% 48.86% Compare
BFS Saul Centers, Inc. $712.1M 31.0× 57.9× +8.91% (above 0%: growing) −15.62% (below 0%: shrinking) −563.94% (below 0%: shrinking) 71.13% 16.05% Compare
PINE Alpine Income Property Trust, Inc. $299.1M 33.3× 28.3× +40.49% (above 0%: growing) n/m −132.81% (below 0%: shrinking) 89.76% 48.01% Compare
SITC SITE CENTERS CORP. $187.4M 0.3× — (loss-making) −68.41% (below 0%: shrinking) n/m −95.37% (below 0%: shrinking) 72.45% (84.37%) Compare
WHLR Wheeler Real Estate Investment Trust, Inc. $440.0K — (loss-making) — (loss-making) −13.89% (below 0%: shrinking) n/m +19.13% (above 0%: growing) 69.52% 46.75%
Median of peers $1.4B 24.2× 42.0× +15.15% +285.45% −71.29% 72.70% 32.87%

All 26 Reit Retail stocks →

Pay and ownership Proxy statement filed 23 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 727.87k 727.87k 0.02
2024 644.63k 644.63k 0.02
2023 645.47k 645.47k 1.57
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Wheeler Real Estate Investment Trust, Inc. (WHLR) Latest News

8 May

Impact 3 · · ACCESS Newswire

5 Mar

Impact 4 · · ACCESS Newswire
Impact 3 · · Associated Press Finance
Impact 3 · · ACCESSWIRE

6 Nov

Impact 3 · · Associated Press Finance
Impact 3 · · ACCESS Newswire

1 Nov

Impact 3 · · Simply Wall St.

29 Oct

Impact 3 · · PR Newswire

14 Oct

Impact 3 · · Barchart

2 Sep

Impact 4 · · ACCESS Newswire

19 Aug

Impact 3 · · Barchart

15 Aug

Impact 4 · · Bloomberg

8 Aug

Impact 3 ·

7 Aug

Impact 4 · · PR Newswire

6 Aug

Impact 3 · · Associated Press Finance
Impact 3 · · Associated Press Finance
Impact 3 · · ACCESSWIRE

5 Aug

Impact 3 · · ACCESS Newswire

21 May

Impact 3 · · Zacks
Impact 3 · · Zacks

5 May

Impact 3 ·

4 Mar

Impact 3 ·
Impact 3 ·

7 Nov

Impact 3 · · ACCESSWIRE

5 Oct

Impact 4 ·

6 Sep

Impact 4 · · Benzinga

31 Aug

Impact 4 · · Benzinga

6 May

Impact 3 · · ACCESSWIRE

27 Nov

Impact 4 · · ACCESSWIRE

16 Nov

Impact 3 · · ACCESSWIRE
stockrow.com/WHLR · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com