Phillips Edison & Company, Inc. (PECO) Income Statement
PECO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPECO revenue and net income
Where PECO's revenue goes
2025Each bar shows an amount and its share of revenue. PECO kept 15.2% of revenue as net income.
PECO profit margins
PECO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +10.7% | +8.4% | +8.0% | +11.7% |
| Gross profit | −102.2% | — | — | — |
| Operating income | −53.3% | −18.5% | −8.0% | +3.1% |
| Net income | +77.6% | +32.1% | +87.7% | +23.6% |
| EPS (diluted) | +14.9% | +17.8% | +3.3% | −11.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PECO quarterly EPS vs estimates
Phillips Edison & beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 26, 2026 (estimate $0.70).
PECO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $732.3M | $661.4M | $610.1M | $575.4M | $532.8M | $498.0M | $536.7M | $430.4M | $311.5M | $257.7M |
| Cost of revenue | $742.5M | $190.3M | $175.1M | $163.2M | $158.3M | $154.5M | $161.1M | $132.5M | $97.3M | $78.5M |
| Gross profit | −$10.2M | $471.1M | $435.0M | $412.1M | $374.6M | $343.5M | $375.6M | $297.8M | $214.3M | $179.2M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $51.6M | $45.6M | $44.4M | $45.2M | $48.8M | $41.4M | $48.5M | $50.4M | $60.9M | $36.3M |
| Total operating expenses | −$209.0M | $45.6M | $44.4M | $45.2M | $48.8M | $41.4M | $48.5M | $50.4M | $60.9M | $36.3M |
| Operating income | $198.8M | $425.5M | $390.6M | $366.9M | $325.7M | $302.1M | $327.1M | $247.4M | $153.3M | $142.9M |
| Interest expense | $110.2M | $95.7M | $83.9M | $71.2M | $76.4M | $85.3M | $103.2M | $72.6M | $45.7M | $32.5M |
| Income before taxes | $124.3M | $71.5M | $64.2M | $54.5M | $17.2M | $5.5M | −$72.8M | $47.0M | −$41.7M | $9.0M |
| Income taxes | $1.3M | $1.8M | $438,000 | $806,000 | $327,000 | $491,000 | $93.2M | −$60.7M | $133.1M | $35.0M |
| Net income | $111.3M | $62.7M | $56.8M | $48.3M | $15.1M | $4.8M | −$63.5M | $39.1M | −$38.4M | $8.9M |
| EBITDA | $497.1M | $418.9M | $385.5M | $362.6M | $322.1M | $299.0M | $322.9M | $243.5M | $150.8M | $138.9M |
| EPS (diluted) | $0.54 | $0.47 | $0.42 | $0.33 | $0.72 | $0.46 | $2.01 | $2.01 | $1.43 | $1.77 |
| Gross margin | −1.4% | 71.2% | 71.3% | 71.6% | 70.3% | 69.0% | 70.0% | 69.2% | 68.8% | 69.5% |
| Operating margin | 27.2% | 64.3% | 64.0% | 63.8% | 61.1% | 60.7% | 60.9% | 57.5% | 49.2% | 55.4% |
| Net margin | 15.2% | 9.5% | 9.3% | 8.4% | 2.8% | 1.0% | −11.8% | 9.1% | −12.3% | 3.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $188.5M | $191.9M | $187.9M | $182.7M | $177.8M | $178.3M | $173.0M | $165.5M | $161.5M | $161.3M | $154.4M | $152.5M |
| Cost of revenue | −$76.5M | $186.1M | $55.7M | $52.4M | $50.6M | $51.0M | $51.0M | $47.1M | $46.9M | $45.4M | $45.6M | $43.3M |
| Gross profit | $264.9M | $5.8M | $132.2M | $130.2M | $127.2M | $127.3M | $122.1M | $118.4M | $114.6M | $115.9M | $108.8M | $109.2M |
| Sales, general & admin | $25.5M | $11.9M | $13.9M | $12.8M | $12.9M | $12.1M | $11.6M | $11.1M | $11.1M | $11.8M | $10.8M | $10.4M |
| Total operating expenses | $210.3M | −$52.4M | $78.9M | $78.4M | $12.9M | $12.1M | $11.6M | $11.1M | $11.1M | $11.8M | $10.8M | $10.4M |
| Operating income | $54.6M | $58.2M | $53.3M | $51.9M | $114.2M | $115.2M | $110.5M | $107.3M | $103.5M | $104.1M | $98.1M | $98.8M |
| Interest expense | $29.4M | $30.9M | $28.3M | $28.5M | $27.7M | $25.7M | $25.0M | $23.8M | $23.6M | $23.3M | $22.6M | $21.1M |
| Income before taxes | $45.5M | $33.2M | $52.6M | $27.4M | $14.5M | $29.0M | $21.0M | $13.3M | $17.4M | $19.8M | $15.3M | $13.8M |
| Income taxes | $242,000 | — | $100,000 | $219,000 | $234,000 | $146,000 | $774,000 | $446,000 | $464,000 | $137,000 | $81,000 | $120,000 |
| Net income | $41.1M | $30.4M | $47.5M | $24.7M | $12.8M | $26.3M | $18.1M | $11.6M | $15.3M | $17.7M | $13.5M | $12.2M |
| EBITDA | $141.5M | $129.6M | $142.8M | $119.4M | $112.1M | $113.3M | $100.8M | $105.6M | $101.9M | $102.7M | $91.5M | $97.5M |
| EPS (diluted) | $0.69 | $0.17 | $0.13 | $0.15 | $0.09 | $0.17 | $0.13 | $0.09 | $0.11 | $0.14 | $0.10 | $0.09 |
| Gross margin | 140.6% | 3.0% | 70.4% | 71.3% | 71.5% | 71.4% | 70.6% | 71.5% | 71.0% | 71.9% | 70.5% | 71.6% |
| Operating margin | 29.0% | 30.3% | 28.4% | 28.4% | 64.3% | 64.6% | 63.9% | 64.8% | 64.1% | 64.5% | 63.5% | 64.8% |
| Net margin | 21.8% | 15.8% | 25.3% | 13.5% | 7.2% | 14.8% | 10.5% | 7.0% | 9.5% | 11.0% | 8.8% | 8.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PECO's financial statements (latest annual report filed February 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PECO financial results
In fiscal year 2025 (ended December 31, 2025), Phillips Edison & reported revenue of $732.3 million, up 10.7% from the year before. It had net income of $111.3 million (up 77.6%), a net profit margin of 15.2%. Diluted earnings per share came to $0.54. Over five years revenue grew at an average rate of 8.0% a year.
See the PECO stock overview for the latest quote and news, or the PECO chart for price history and technical indicators.
PECO income statement FAQ
What is Phillips Edison &'s annual revenue?
Phillips Edison & reported total revenue of $732.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 10.7% from $661.4 million the previous year.
Is Phillips Edison & profitable?
Yes. Phillips Edison & reported net income of $111.3 million in fiscal 2025, a net profit margin of 15.2%; its operating margin was 27.2%.
What is Phillips Edison &'s gross margin?
Phillips Edison &'s gross margin was −1.4% in fiscal 2025: for every $100 of revenue, Phillips Edison & kept $-1 after the direct cost of its products and services.
How fast is Phillips Edison & growing?
Revenue grew 8.0% a year on average over the last five fiscal years, from $498.0 million to $732.3 million.
What are Phillips Edison &'s earnings per share?
Phillips Edison & earned $0.54 per diluted share in fiscal 2025, compared with $0.47 a year earlier.
When will Phillips Edison & report its next earnings?
Phillips Edison & is expected to report results for the quarter ending September 30, 2026 on October 26, 2026 after the market closes.
When does Phillips Edison &'s fiscal year end?
Phillips Edison &'s fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 10, 2026.