Urban Edge Properties
UE NYSE Real Estate Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$472M
6.1%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$93.5M
28.9%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.85 EPS (TTM)
What Urban Edge Properties does
No business description yet.
- Legal name
- Urban Edge Properties
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 11, 2026
- Accession · CIK
- 0001611547-26-000022
0001611547
Revenue and margins
Urban Edge Properties had $472M of revenue in fiscal 2025, up 6.1% on the year before.
FY16
Revenue $326M
FY17
Revenue $407M
FY18
Revenue $414M
FY19
Revenue $388M
FY20
Revenue $330M
FY21
Revenue $425M
FY22
Revenue $398M
FY23
Revenue $417M
FY24
Revenue $445M
FY25
Revenue $472M
Q2 '23
Revenue $99.1M
Q3 '23
Revenue $102M
Q4 '23
Revenue $117M
Q1 '24
Revenue $110M
Q2 '24
Revenue $107M
Q3 '24
Revenue $112M
Q4 '24
Revenue $116M
Q1 '25
Revenue $118M
Q2 '25
Revenue $114M
Q3 '25
Revenue $120M
Q4 '25
Revenue $120M
Q1 '26
Revenue $133M
FY16
Gross —
Operating 40.8%
Net 27.9%
FCF —
FY17
Gross —
Operating 39.7%
Net 16.5%
FCF —
FY18
Gross —
Operating 29.4%
Net 25.4%
FCF —
FY19
Gross —
Operating —
Net 28.3%
FCF —
FY20
Gross —
Operating —
Net 28.4%
FCF —
FY21
Gross —
Operating —
Net 24.2%
FCF —
FY22
Gross —
Operating —
Net 11.6%
FCF —
FY23
Gross —
Operating —
Net 59.6%
FCF —
FY24
Gross —
Operating —
Net 16.3%
FCF —
FY25
Gross —
Operating —
Net 19.8%
FCF —
Gross
Operating
Net
FCF
Q2 '23
Gross —
Operating —
Net 10.4%
FCF —
Q3 '23
Gross —
Operating —
Net 35.5%
FCF —
Q4 '23
Gross —
Operating —
Net 189.8%
FCF —
Q1 '24
Gross —
Operating —
Net 2.4%
FCF —
Q2 '24
Gross —
Operating —
Net 28.9%
FCF —
Q3 '24
Gross —
Operating —
Net 8.1%
FCF —
Q4 '24
Gross —
Operating —
Net 25.9%
FCF —
Q1 '25
Gross —
Operating —
Net 6.9%
FCF —
Q2 '25
Gross —
Operating —
Net 50.8%
FCF —
Q3 '25
Gross —
Operating —
Net 12.4%
FCF —
Q4 '25
Gross —
Operating —
Net 10.4%
FCF —
Q1 '26
Gross —
Operating —
Net 17.1%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −2.3% a year. Loss periods are shown in red.
FY16
Net income $90.8M
FY17
Net income $67.1M
FY18
Net income $105M
FY19
Net income $110M
FY20
Net income $93.6M
FY21
Net income $103M
FY22
Net income $46.2M
FY23
Net income $248M
FY24
Net income $72.6M
FY25
Net income $93.5M
Q2 '23
Net income $10.3M
Q3 '23
Net income $36.1M
Q4 '23
Net income $221M
Q1 '24
Net income $2.6M
Q2 '24
Net income $30.8M
Q3 '24
Net income $9.1M
Q4 '24
Net income $30.1M
Q1 '25
Net income $8.2M
Q2 '25
Net income $58.0M
Q3 '25
Net income $14.9M
Q4 '25
Net income $12.4M
Q1 '26
Net income $22.6M
FY16
Diluted EPS $0.91
FY17
Diluted EPS $0.61
FY18
Diluted EPS $0.92
FY19
Diluted EPS $0.91
FY20
Diluted EPS $0.79
FY21
Diluted EPS $0.88
FY22
Diluted EPS $0.39
FY23
Diluted EPS $2.11
FY24
Diluted EPS $0.60
FY25
Diluted EPS $0.74
Q2 '23
Diluted EPS $0.09
Q3 '23
Diluted EPS $0.31
Q4 '23
Diluted EPS $1.87
Q1 '24
Diluted EPS $0.02
Q2 '24
Diluted EPS $0.26
Q3 '24
Diluted EPS $0.07
Q4 '24
Diluted EPS $0.25
Q1 '25
Diluted EPS $0.07
Q2 '25
Diluted EPS $0.46
Q3 '25
Diluted EPS $0.12
Q4 '25
Diluted EPS $0.09
Q1 '26
Diluted EPS $0.18
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 8.4%
Return on equity 18.3%
Return on assets 4.8%
FY17
Return on capital 7.8%
Return on equity 9.0%
Return on assets 2.8%
FY18
Return on capital 5.6%
Return on equity 10.5%
Return on assets 3.7%
FY19
Return on capital —
Return on equity 10.8%
Return on assets 3.9%
FY20
Return on capital —
Return on equity 9.3%
Return on assets 3.2%
FY21
Return on capital —
Return on equity 10.0%
Return on assets 3.5%
FY22
Return on capital —
Return on equity 4.4%
Return on assets 1.5%
FY23
Return on capital —
Return on equity 22.1%
Return on assets 7.9%
FY24
Return on capital —
Return on equity 5.6%
Return on assets 2.2%
FY25
Return on capital —
Return on equity 6.8%
Return on assets 2.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY16
Free cash flow —
FY17
Free cash flow —
FY18
Free cash flow —
FY19
Free cash flow —
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY16
Cash from operations $137M
Capital spending —
FY17
Cash from operations $158M
Capital spending —
FY18
Cash from operations $137M
Capital spending —
FY19
Cash from operations $156M
Capital spending —
FY20
Cash from operations $113M
Capital spending —
FY21
Cash from operations $135M
Capital spending —
FY22
Cash from operations $140M
Capital spending —
FY23
Cash from operations $163M
Capital spending —
FY24
Cash from operations $153M
Capital spending —
FY25
Cash from operations $183M
Capital spending —
Cash from operations
Capital spending
Q2 '23
Cash from operations $39.0M
Capital spending —
Q3 '23
Cash from operations $34.4M
Capital spending —
Q4 '23
Cash from operations $60.2M
Capital spending —
Q1 '24
Cash from operations $22.9M
Capital spending —
Q2 '24
Cash from operations $41.2M
Capital spending —
Q3 '24
Cash from operations $36.6M
Capital spending —
Q4 '24
Cash from operations $52.4M
Capital spending —
Q1 '25
Cash from operations $32.6M
Capital spending —
Q2 '25
Cash from operations $43.5M
Capital spending —
Q3 '25
Cash from operations $55.7M
Capital spending —
Q4 '25
Cash from operations $51.0M
Capital spending —
Q1 '26
Cash from operations $39.1M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Urban Edge Properties returned $95.5M to shareholders in fiscal 2025. The diluted share count rose 3.7%.
FY16
Dividends $81.2M
Buybacks —
FY17
Dividends $95.4M
Buybacks —
FY18
Dividends $100M
Buybacks $0.0M
FY19
Dividends $106M
Buybacks $0.0M
FY20
Dividends $26.6M
Buybacks $54.1M
FY21
Dividends $124M
Buybacks $0.0M
FY22
Dividends $75.1M
Buybacks $0.0M
FY23
Dividends $75.2M
Buybacks —
FY24
Dividends $82.9M
Buybacks —
FY25
Dividends $95.5M
Buybacks —
Dividends
Buybacks
Q2 '23
Dividends $18.8M
Buybacks —
Q3 '23
Dividends $18.8M
Buybacks —
Q4 '23
Dividends $18.8M
Buybacks —
Q1 '24
Dividends $20.2M
Buybacks —
Q2 '24
Dividends $20.2M
Buybacks —
Q3 '24
Dividends $21.2M
Buybacks —
Q4 '24
Dividends $21.3M
Buybacks —
Q1 '25
Dividends $23.9M
Buybacks —
Q2 '25
Dividends $23.9M
Buybacks —
Q3 '25
Dividends $23.9M
Buybacks —
Q4 '25
Dividends $23.9M
Buybacks —
Q1 '26
Dividends $26.4M
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.10B
FY17
Diluted shares 0.12B
FY18
Diluted shares 0.11B
FY19
Diluted shares 0.12B
FY20
Diluted shares 0.12B
FY21
Diluted shares 0.12B
FY22
Diluted shares 0.12B
FY23
Diluted shares 0.12B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.13B
Balance sheet
Cash, debt and the ratios that show how comfortably Urban Edge Properties can carry it.
FY16
Cash $132M
Debt $1.2B
FY17
Cash $490M
Debt $1.6B
FY18
Cash $440M
Debt $1.6B
FY19
Cash $433M
Debt $1.5B
FY20
Cash $385M
Debt $1.6B
FY21
Cash $164M
Debt $1.7B
FY22
Cash $85.5M
Debt $1.7B
FY23
Cash $101M
Debt —
FY24
Cash $41.4M
Debt —
FY25
Cash $48.9M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $164M | $85.5M | $101M | $41.4M | $48.9M |
| Debt incl. finance leases | $1.7B | $1.7B | — | — | — |
| Debt / equity | 1.6x | 1.6x | — | — | — |
| Total assets | $3.0B | $3.0B | $3.3B | $3.3B | $3.3B |
| Total liabilities | $1.9B | $1.9B | $2.1B | $1.9B | $1.9B |
| Shareholders' equity | $1.0B | $1.0B | $1.2B | $1.4B | $1.4B |
| Net debt (− = net cash) | $1.5B | $1.6B | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | — | — | — |
| Current ratio rose | — | — | — | — | — | — | — | — | — | — |
| Share count didn't rise | — | ✕ | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ |
| F-score | — / 3 | 4 / 7 | 7 / 7 | 5 / 7 | 5 / 7 | 5 / 7 | 3 / 7 | — / 6 | — / 6 | — / 6 |
| Accruals ratio | −2.4% | −3.8% | −1.1% | −1.7% | −0.7% | −1.1% | −3.1% | 2.7% | −2.4% | −2.7% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $326M | $407M | $414M | $388M | $330M | $425M | $398M | $417M | $445M | $472M |
| Provision for credit losses | — | — | $4.1M | $1.4M | $27.9M | — | — | — | — | — |
| Operating income | $133M | $162M | $122M | — | — | — | — | — | — | — |
| Interest expense | $49.1M | $53.3M | $62.0M | $63.8M | $68.2M | $54.9M | $55.6M | $70.8M | $77.3M | $73.3M |
| Pretax income | $97.4M | $72.7M | $120M | $117M | $58.8M | $109M | $50.2M | $278M | $77.8M | $100M |
| Income tax | $0.8M | −$0.3M | $3.5M | $1.3M | −$39.0M | $1.1M | $2.9M | $17.8M | $2.4M | $2.6M |
| Net income | $90.8M | $67.1M | $105M | $110M | $93.6M | $103M | $46.2M | $248M | $72.6M | $93.5M |
| Net income to common | $90.7M | $66.9M | $105M | $109M | $93.5M | $103M | $46.1M | $248M | $72.5M | $93.5M |
| Diluted EPS | $0.91 | $0.61 | $0.92 | $0.91 | $0.79 | $0.88 | $0.39 | $2.11 | $0.60 | $0.74 |
| Diluted shares | 0.10B | 0.12B | 0.11B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B | 0.13B |
| Cash flow | ||||||||||
| Cash from operations | $137M | $158M | $137M | $156M | $113M | $135M | $140M | $163M | $153M | $183M |
| Depreciation and amortization | $57.2M | $82.5M | $103M | $96.6M | $97.8M | $94.1M | $101M | $110M | $151M | $139M |
| Stock-based compensation | $5.4M | $7.1M | $9.7M | $13.5M | $17.0M | $10.8M | $10.5M | $7.8M | $10.4M | $11.8M |
| Share buybacks | — | — | $0.0M | $0.0M | $54.1M | $0.0M | $0.0M | — | — | — |
| Dividends paid | $81.2M | $95.4M | $100M | $106M | $26.6M | $124M | $75.1M | $75.2M | $82.9M | $95.5M |
| Dividends and buybacks | $81.2M | $95.4M | $100M | $106M | $80.8M | $124M | $75.1M | $75.2M | $82.9M | $95.5M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $132M | $490M | $440M | $433M | $385M | $164M | $85.5M | $101M | $41.4M | $48.9M |
| Total debt | $1.2B | $1.6B | $1.6B | $1.5B | $1.6B | $1.7B | $1.7B | — | — | — |
| Finance lease liabilities | — | — | — | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.0M | $3.1M |
| Intangible assets | $30.9M | $87.2M | $68.4M | $48.1M | $56.2M | $71.1M | $62.9M | $114M | $110M | $87.6M |
| Total assets | $1.9B | $2.8B | $2.8B | $2.8B | $2.9B | $3.0B | $3.0B | $3.3B | $3.3B | $3.3B |
| Total liabilities | $1.4B | $1.8B | $1.8B | $1.8B | $1.9B | $1.9B | $1.9B | $2.1B | $1.9B | $1.9B |
| Shareholders' equity | $496M | $991M | $1.0B | $1.0B | $996M | $1.0B | $1.0B | $1.2B | $1.4B | $1.4B |
| Margins | ||||||||||
| Operating margin | 40.8% | 39.7% | 29.4% | — | — | — | — | — | — | — |
| EBITDA margin | 58.3% | 60.0% | 54.3% | — | — | — | — | — | — | — |
| Net margin | 27.9% | 16.5% | 25.4% | 28.3% | 28.4% | 24.2% | 11.6% | 59.6% | 16.3% | 19.8% |
| Returns | ||||||||||
| Return on capital | 8.4% | 7.8% | 5.6% | — | — | — | — | — | — | — |
| Return on equity | 18.3% | 9.0% | 10.5% | 10.8% | 9.3% | 10.0% | 4.4% | 22.1% | 5.6% | 6.8% |
| Return on assets | 4.8% | 2.8% | 3.7% | 3.9% | 3.2% | 3.5% | 1.5% | 7.9% | 2.2% | 2.8% |
| Return on tangible equity | 19.5% | 7.4% | 11.2% | 11.3% | 10.0% | 10.5% | 4.8% | 22.4% | 5.8% | 7.3% |
| Growth | ||||||||||
| Revenue growth | — | 24.9% | 1.7% | −6.4% | −14.8% | 28.8% | −6.4% | 4.8% | 6.7% | 6.1% |
| Net income growth | — | −26.1% | 56.8% | 4.2% | −14.5% | 9.7% | −55.0% | 438.2% | −70.8% | 28.9% |
| EPS growth | — | −33.0% | 50.8% | −1.1% | −13.2% | 11.4% | −55.7% | 441.0% | −71.6% | 23.3% |
| Share count change | — | 18.6% | −3.7% | 5.1% | −1.7% | 3.0% | 0.2% | −3.3% | 3.3% | 3.7% |
| Financial health | ||||||||||
| Net debt / EBITDA | 5.6x | 4.4x | 4.9x | — | — | — | — | — | — | — |
| Debt / equity | 2.4x | 1.6x | 1.5x | 1.5x | 1.6x | 1.6x | 1.6x | — | — | — |
| Interest coverage | 2.7x | 3.0x | 2.0x | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.7% | 1.8% | 2.4% | 3.5% | 5.1% | 2.5% | 2.6% | 1.9% | 2.3% | 2.5% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 4.0 | 7.0 | 5.0 | 5.0 | 5.0 | 3.0 | — | — | — |
| Accruals ratio | −2.4% | −3.8% | −1.1% | −1.7% | −0.7% | −1.1% | −3.1% | 2.7% | −2.4% | −2.7% |
Source: SEC EDGAR XBRL filings (CIK 0001611547). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.