Regency Centers
REG · NasdaqReal Estate Investment Trusts · Fiscal year ends Dec 31
Regency Centers reported revenue of $1.6B in the fiscal year ended Dec 2025, up 6.9% from the year before. Operating income was $1.1B, an operating margin of 72.3%, and net income was $527M. Net debt was $4.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.2B | $1.3B | $1.5B | $1.6B |
| Operating income | – | $897M | $951M | $1B | $1.1B |
| Interest expense | $145M | $146M | $154M | – | – |
| Pre-tax income | $319M | $428M | $320M | $360M | $407M |
| Income tax | $1M | −$39,000 | $895,000 | $5M | – |
| Net income | $361M | $483M | $365M | $400M | $527M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $95M | $69M | $91M | $62M | $121M |
| Net PP&E | $5M | $6M | $7M | $8M | $13M |
| Goodwill | $167M | $167M | $167M | $167M | $167M |
| Total assets | $10.8B | $10.9B | $12.4B | $12.4B | $13B |
| Long-term debt | $3.7B | $3.7B | $4.2B | $4.4B | $4.7B |
| Total liabilities | $4.7B | $4.7B | $5.2B | $5.5B | $5.8B |
| Shareholders' equity | $6B | $6.1B | $7B | $6.7B | $6.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $659M | $656M | $720M | $790M | $828M |
| Depreciation & amortisation | $303M | $320M | $352M | $395M | $405M |
| Stock-based compensation | $13M | $17M | $20M | $24M | $19M |
| Acquisitions | – | – | $82M | – | – |
| Share buybacks | – | $75M | $20M | $200M | – |
| Dividends paid | $403M | $428M | $453M | $490M | $512M |
| Dividend per share | 2.41 | 2.52 | 2.62 | 2.71 | 2.87 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 5.0% | 8.0% | 9.9% | 6.9% |
| Operating income growth (YoY) | – | – | 6.1% | 10.1% | 7.3% |
| Operating margin | – | 73.3% | 71.9% | 72.0% | 72.3% |
| Net margin | 31.0% | 39.4% | 27.6% | 27.5% | 34.0% |
| Return on equityBlank when equity is negative | 6.0% | 7.9% | 5.2% | 6.0% | 7.6% |
| Cash conversion (CFO ÷ net income) | 1.82x | 1.36x | 1.97x | 1.97x | 1.57x |
| Interest cover | – | 6.13x | 6.17x | – | – |
| Debt ÷ equity | 0.62x | 0.61x | 0.59x | 0.66x | 0.69x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.6B | $3.7B | $4.1B | $4.3B | $4.6B |
Recent filings
More in Real Estate Investment Trusts
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.