FRT Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	1,245	1,170	1,101	1,048	948.84
Other Revenue	34.29	34.42	33.47	30.67	1.25
Total Revenue	1,281	1,206	1,136	1,080	952.47
Revenue Growth (YoY	6.24%	6.13%	5.23%	13.34%	15.11%
Property Expenses	410.95	384.26	355.12	348.97	309.14
Selling, General & Administrative	54.85	57.28	58.69	60.45	57.34
Depreciation & Amortization	367.84	342.6	321.76	302.41	279.98
Other Operating Expenses	-14.18	-	-	-	-
Total Operating Expenses	819.46	784.14	735.57	711.83	646.45
Operating Income	461.43	421.48	400.46	367.72	306.02
Interest Expense	-183.61	-175.48	-167.81	-136.99	-127.7
Interest & Investment Income	3.14	4.29	4.69	1.07	0.81
EBT Excluding Unusual Items	280.96	250.29	237.34	231.8	179.13
Gain (Loss) on Sale of Investments	-	-	-	70.37	-
Gain (Loss) on Sale of Assets	150.11	54.04	9.88	93.48	89.95
Asset Writedown	-7.43	-	-	-	-
Pretax Income	423.65	304.33	247.22	395.66	269.08
Earnings From Continuing Operations	423.65	304.33	247.22	395.66	269.08
Minority Interest in Earnings	-12.57	-9.13	-10.23	-10.17	-7.58
Net Income	411.08	295.21	236.99	385.49	261.5
Preferred Dividends & Other Adjustments	9.37	9.32	9.32	9.36	9.25
Net Income to Common	401.7	285.89	227.67	376.13	252.25
Net Income Growth	39.25%	24.57%	-38.52%	47.42%	98.55%
Basic Shares Outstanding	86	84	81	80	77
Diluted Shares Outstanding	86	84	81	81	77
Shares Change (YoY)	3.40%	2.77%	1.00%	4.06%	2.45%
EPS (Basic)	4.68	3.42	2.80	4.71	3.26
EPS (Diluted)	4.68	3.42	2.80	4.71	3.26
EPS Growth	36.81%	22.15%	-40.52%	44.38%	101.24%
Dividend Per Share	4.460	4.380	4.340	4.300	4.260
Dividend Growth	1.83%	0.92%	0.93%	0.94%	0.95%
Operating Margin	36.02%	34.96%	35.25%	34.06%	32.13%
Profit Margin	31.36%	23.71%	20.04%	34.84%	26.48%
EBITDA	814.52	750.58	709.61	659.02	577.25
EBITDA Margin	63.59%	62.26%	62.46%	61.05%	60.61%
D&A For Ebitda	353.09	329.11	309.15	291.3	271.23
EBIT	461.43	421.48	400.46	367.72	306.02
EBIT Margin	36.02%	34.96%	35.25%	34.06%	32.13%
Funds From Operations (FFO)	624.26	570.24	537.31	509.16	434.74
FFO Per Share	7.22	6.77	6.55	6.32	5.57
Adjusted Funds From Operations (AFFO)	624.26	570.24	537.31	509.16	434.74
AFFO Per Share	7.22	6.77	6.55	6.32	5.57
Revenue as Reported	1,279	1,202	1,132	1,074	951.22

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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