Brixmor Property Group Inc. (BRX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+138.2%

$70.07

vs $29.42 price

Levered DCF

$40.26

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.21

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	20.81×	24.86×	23.04×	19.21×	27.92×	40.37×	74.52×	12.14×
P/B	2.68×	2.83×	2.46×	2.37×	2.78×	1.83×	2.35×	1.56×
P/S	5.87×	6.57×	5.63×	5.58×	6.56×	4.67×	5.52×	3.6×
EV / EBITDA	13.22×	14.31×	13.91×	13.3×	15.74×	14.87×	15.02×	9.94×
Gross margin	75.2%	75.3%	74.3%	74.4%	74.2%	73.4%	74.7%	74.6%
Operating margin	36.7%	36.6%	64.9%	36.5%	36.6%	64.0%	65.9%	37.7%
Net margin	28.2%	26.4%	24.5%	29.1%	23.4%	11.5%	23.5%	29.7%
Current ratio	1.1×	0.63×	0.43×	0.74×	1.44×	1.7×	0.25×	0.6×
Debt / equity	1.95×	1.79×	1.73×	1.77×	1.92×	1.95×	1.77×	1.72×
Interest coverage	2.24×	2.18×	4.24×	2.31×	2.17×	3.37×	4.06×	2.16×
Dividend yield	4.4%	3.9%	4.5%	4.3%	3.4%	3.5%	5.2%	7.5%
Payout ratio	91.7%	97.6%	103.3%	81.8%	95.2%	140.6%	121.9%	91.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.8%	11.4%	10.7%	12.4%	9.9%	4.5%	10.0%	12.9%
Return on invested capital	5.5%	5.6%	10.2%	5.5%	5.3%	8.4%	10.1%	6.0%
Return on assets	4.2%	3.8%	3.7%	4.2%	3.2%	1.5%	3.4%	4.4%
Free cash flow yield	8.1%	7.4%	8.4%	8.3%	7.3%	9.0%	8.2%	12.2%
Earnings yield	4.8%	4.0%	4.4%	5.2%	3.6%	2.5%	4.3%	8.3%
Enterprise value	$13.6B	$13.4B	$11.9B	$11.9B	$12.5B	$9.8B	$11.3B	$9.3B
Net debt / EBITDA	5.37×	5.3×	5.75×	5.68×	6.2×	7.4×	6.45×	5.19×
Cash conversion cycle (days)	-274	-301	-303	-292	-285	-276	73	46