Phillips Edison & Company, Inc. (PECO) vs Regency Centers Corporation (REG)

Phillips Edison & Company, Inc. and Regency Centers Corporation are both Reit Retail companies. Regency Centers Corporation is the larger, with a market value of $13.4B against $5.2B — 2.5× the size. Regency Centers Corporation trades at the lower P/E: 24.8× against 32.5×. Regency Centers Corporation grew revenue faster over the last twelve months: 8.24% against 8.10%. Regency Centers Corporation has the higher net margin (33.5% vs 19.1%) and the higher return on invested capital (3.17% vs 2.69%). Both pay a dividend; Regency Centers Corporation yields more (4.32% vs 3.39%). Across the 23 metrics below, Regency Centers Corporation leads on 13 and Phillips Edison & Company, Inc. on 10.

Valuation

Metric PECO REG Reit Retail median
P/E 32.52 24.82 24.82
P/S 6.29 8.29 6.69
P/B 1.77 1.94 1.75
Price to free cash flow 10.82 37.19 13.29
EV/EBITDA 14.94 17.76 15.42
EV/Sales 9.51 11.19 10.60
Earnings yield 3.07% 4.03% 3.91%
Free cash flow yield 9.24% 2.69% 2.98%

Profitability

Metric PECO REG Reit Retail median
Gross margin 71.00% 70.35% 71.78%
Operating margin 29.13% 37.11% 34.62%
Net margin 19.14% 33.54% 27.14%
Free cash flow margin 58.12% 22.29% 18.82%
Return on equity 5.46% 8.01% 7.05%
Return on assets 2.68% 4.20% 3.40%
Return on invested capital 2.69% 3.17% 3.18%

Growth

Metric PECO REG Reit Retail median
Revenue growth (TTM) 8.10% 8.24% 8.49%
EPS growth (last fiscal year) 74.51% 33.65% —
Revenue growth, 5-year CAGR 7.85% 8.86% 8.62%
Net income growth, 5-year CAGR 87.74% 62.83% 1.85%

Health

Metric PECO REG Reit Retail median
Debt to equity 0.92 0.69 0.94
Current ratio 0.01 1.25 1.62
Net debt to EBITDA 5.03 4.69 5.40

Dividend

Metric PECO REG Reit Retail median
Dividend yield 3.39% 4.32% 4.57%
Payout ratio 2.37 1.20 1.21

Size

Metric PECO REG Reit Retail median
Market cap 5.24b 13.35b 3.65b

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