Federal Realty Investment Trust vs NNN Reit
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KIRAβs take AI analyst
I put Federal Realty Investment Trust and NNN Reit side by side, using each oneβs latest annual report. Here is what stands out:
- Federal Realty Investment Trust is the larger business, with $1.3B of revenue in fiscal 2025 against $926M for NNN Reit.
- NNN Reit kept more of each dollar of sales as operating profit (63.6% operating margin, against 47.1%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Federal Realty Investment Trust
FRT
2/6
5-year growthReturn on equity
NNN Reit
NNN
4/6
Revenue growthOperating marginNet marginShare count change
Side by side
Best in the row
| Latest fiscal year | FRT FY25 | NNN FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.4B | $7.8B |
| Revenue | $1.3B | $926M |
| Free cash flow | β | β |
| Net income | $411M | $390M |
| Growth | ||
| Revenue growth | 6.4% | 6.6% |
| 5-year growth | 8.9% | 7.0% |
| Share count change | 3.4% | 2.1% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | 47.1% | 63.6% |
| Net margin | 32.1% | 42.1% |
| FCF margin | β | β |
| Return on capital | 6.0% | β |
| Return on equity | 12.8% | 8.9% |
| Balance sheet | ||
| Net debt | $4.9B | β |
| Net debt / EBITDA | 5.0x | β |
| Dividends and buybacks | $0.0M | $443M |
| Valuation & quality | ||
| P/E | 18.9x | β |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.