Phillips Edison & Company, Inc. (PECO) vs Tanger Inc. (SKT)

Phillips Edison & Company, Inc. and Tanger Inc. are both Reit Retail companies. Phillips Edison & Company, Inc. is the larger, with a market value of $5.8B against $4.4B — 1.3× the size. Phillips Edison & Company, Inc. trades at the lower P/E: 27.5× against 34.5×. Tanger Inc. grew revenue faster over the last twelve months: 11.4% against 6.96%. Phillips Edison & Company, Inc. has the higher net margin (23.9% vs 20.7%) and the lower return on invested capital (2.70% vs 4.95%). Both pay a dividend; Phillips Edison & Company, Inc. yields more (3.22% vs 3.21%). Across the 23 metrics below, Phillips Edison & Company, Inc. leads on 14 and Tanger Inc. on 9.

Valuation

Metric PECO SKT Reit Retail median
P/E 27.53 34.54 24.06
P/S 6.90 7.17 7.25
P/B 1.95 6.26 1.77
Price to free cash flow 10.49 38.22 17.80
EV/EBITDA 15.96 17.45 15.96
EV/Sales 10.19 9.83 10.99
Earnings yield 3.63% 2.90% 4.16%
Free cash flow yield 9.53% 2.62% 3.05%

Profitability

Metric PECO SKT Reit Retail median
Gross margin 71.12% 69.54% 71.84%
Operating margin 29.50% 30.20% 36.94%
Net margin 23.87% 20.74% 29.40%
Free cash flow margin 65.83% 18.75% 21.18%
Return on equity 6.88% 18.64% 7.18%
Return on assets 3.36% 4.78% 3.65%
Return on invested capital 2.70% 4.95% 3.22%

Growth

Metric PECO SKT Reit Retail median
Revenue growth (TTM) 6.96% 11.37% 8.64%
EPS growth (last fiscal year) 74.51% 12.50% 16.00%
Revenue growth, 5-year CAGR 7.85% 8.32% 8.62%
Net income growth, 5-year CAGR 87.74% 0.00% 1.85%

Health

Metric PECO SKT Reit Retail median
Debt to equity 0.93 2.65 0.88
Current ratio 0.01 2.12 1.24
Net debt to EBITDA 5.03 4.74 5.40

Dividend

Metric PECO SKT Reit Retail median
Dividend yield 3.22% 3.21% 4.14%
Payout ratio 0.91 1.12 1.07

Size

Metric PECO SKT Reit Retail median
Market cap 5.77b 4.41b 4.04b

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