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Real estate services · Real Estate · Fiscal year ends Dec 31
Urban Edge Properties reported revenue of $472M in the fiscal year ended Dec 2025, up 6.1% from the year before. Operating income was $173M, an operating margin of 36.7%, and net income was $94M. Operating cash flow of $183M less capital expenditure of $101M left free cash flow of $82M.
Ranks among the 16 real estate services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 425 | 398 | 417 | 445 | 472 |
| Operating incomederived: pre-tax income + interest | 164 | 106 | 348 | 155 | 173 |
| Interest expense | 54.9 | 55.6 | 70.8 | 77.3 | 73.3 |
| Pre-tax income | 109 | 50.2 | 278 | 77.8 | 100 |
| Income tax | 1.1 | 2.9 | 17.8 | 2.4 | 2.6 |
| Net income | 103 | 46.2 | 248 | 72.6 | 93.5 |
| Diluted EPS | 0.88 | 0.39 | 2.11 | 0.60 | 0.74 |
| Diluted shares | 121 | 122 | 118 | 121 | 126 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 164 | 85.5 | 101 | 41.4 | 48.9 |
| Total assets | 2,985 | 2,977 | 3,280 | 3,312 | 3,312 |
| Long-term debt | 1,687 | 1,692 | – | – | – |
| Total liabilities | 1,937 | 1,947 | 2,058 | 1,950 | 1,935 |
| Shareholders' equity | 1,048 | 1,030 | 1,221 | 1,362 | 1,376 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 135 | 140 | 163 | 153 | 183 |
| Capital expenditure | 95.4 | 116 | 116 | 111 | 101 |
| Free cash flow | 39.9 | 23.6 | 47.3 | 42.6 | 81.8 |
| Depreciation & amortisation | 94.1 | 101 | 110 | 151 | 139 |
| Stock-based compensation | 10.8 | 10.5 | 7.8 | 10.4 | 11.8 |
| Share buybacks | 0.0 | 0.0 | – | – | – |
| Dividends paid | 124 | 75.1 | 75.2 | 82.9 | 95.5 |
| Dividend per share | 0.60 | 0.64 | 0.64 | 0.68 | 0.76 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −6.4% | 4.8% | 6.7% | 6.1% |
| Operating income growth (YoY) | – | −35.4% | 229.4% | −55.5% | 11.8% |
| EPS growth (YoY) | – | −55.7% | 441.0% | −71.6% | 23.3% |
| Operating margin | 38.6% | 26.6% | 83.6% | 34.9% | 36.7% |
| Net margin | 24.2% | 11.6% | 59.6% | 16.3% | 19.8% |
| Return on equityBlank when equity is negative | 9.8% | 4.5% | 20.3% | 5.3% | 6.8% |
| Free cash flow margin | 9.4% | 5.9% | 11.3% | 9.6% | 17.3% |
| Cash conversion (CFO ÷ net income) | 1.32x | 3.02x | 0.66x | 2.11x | 1.95x |
| Interest cover | 2.98x | 1.90x | 4.92x | 2.01x | 2.37x |
| Debt ÷ equity | 1.61x | 1.64x | – | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,523 | 1,606 | – | – | – |
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.