Phillips Edison &

PECO

REIT - Retail · Real Estate

Price

$39.27

-0.16 (-0.41%)

Market Cap

$5.04B

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Exceptional

Stability

Mixed

Valuation

Weak

Dividends

Mixed

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Share count rising — dilution

+19.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 116.7M (2021) → 138.9M (2025)

Winston Score History

The full picture

Phillips Edison & Company owns and operates grocery-anchored shopping centers across the United States. Its tenants are everyday retailers like grocery stores, pharmacies, hair salons, and restaurants — businesses people visit regularly for necessities. The company is one of the largest owners of this specific type of shopping center in the country, with a portfolio focused almost entirely on neighborhood retail hubs built around a major grocery store.

Phillips Edison makes money by collecting rent from the retailers that lease space in its shopping centers. It operates as a real estate investment trust (REIT), which means it is required to pay out most of its income to shareholders as dividends. The company owns roughly 300 properties spread across more than 30 states, with a concentration in suburban markets. Its grocery-anchored focus is a competitive advantage because grocery stores drive consistent foot traffic even during economic downturns. The main risk is rising interest rates, which increase borrowing costs and can pressure property valuations for REITs.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+230.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$47M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Phillips Edison & is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

140.6%

Premium pricing power — 140.6% gross margin

Profit after running costs

Operating Margin

29.0%

Excellent — 29.0% operating margin

Return on the money invested

ROCE

4.5%

Weak — 4.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+8.1%

Steady sales growth (+8.1% YoY)

Profit growth

EPS YoY

+107.3%

Earnings growing fast (+107.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

254%

Turns 254% of profit into real cash

Spare cash per sale

FCF Margin

31.7%

Converts sales into free cash efficiently (31.7%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

1.03

Elevated debt (1.03)

Covers its interest

Interest Cover

1.86x

Dangerous — barely covers interest (1.9x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

34.1x

Pricey — P/E 34.1

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

-18.2

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.17%

Moderate income — 3.17% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+0.0%

Dividend flat

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