Regency Centers Corporation (REG) 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

+38.0%

$103.97

vs $75.36 price

Levered DCF

$48.46

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.52

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	24.48×	35.04×	32.84×	22.24×	35.54×	175.35×	44.12×	40.19×
P/B	1.82×	2.01×	1.68×	1.76×	2.13×	1.29×	1.7×	1.56×
P/S	8.09×	9×	8.63×	8.45×	10.67×	7.37×	9.07×	8.6×
EV / EBITDA	16.55×	19.68×	19.69×	18.29×	22.11×	19.58×	20.81×	18.95×
Gross margin	44.7%	71.2%	71.2%	72.8%	72.9%	70.1%	73.7%	73.6%
Operating margin	37.0%	64.4%	64.0%	66.5%	66.4%	63.0%	67.3%	68.0%
Net margin	33.9%	26.6%	26.6%	38.0%	30.0%	4.3%	20.6%	21.5%
Current ratio	1.05×	0.73×	0.64×	0.81×	0.85×	1.84×	0.76×	0.75×
Debt / equity	0.86×	0.75×	0.68×	0.7×	0.71×	0.76×	0.77×	0.66×
Interest coverage	2.72×	5.13×	5.63×	5.78×	5.5×	4.29×	5.55×	5.58×
Dividend yield	4.2%	3.7%	3.9%	4.0%	3.1%	3.9%	3.7%	3.8%
Payout ratio	99.6%	125.9%	125.2%	88.7%	111.5%	669.5%	163.1%	150.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.6%	6.0%	5.2%	7.9%	6.0%	0.8%	3.9%	3.9%
Return on invested capital	4.4%	8.0%	7.3%	8.0%	7.6%	6.2%	7.0%	7.3%
Return on assets	4.1%	3.2%	2.9%	4.4%	3.3%	0.4%	2.2%	2.3%
Free cash flow yield	3.1%	3.3%	4.4%	4.7%	3.1%	6.8%	3.8%	5.7%
Earnings yield	4.2%	3.0%	3.1%	4.5%	2.8%	0.6%	2.3%	2.5%
Enterprise value	$18.4B	$18.5B	$16.5B	$15B	$17.1B	$11.9B	$15.2B	$14.1B
Net debt / EBITDA	5.23×	5.28×	5.61×	5.17×	5.45×	6.84×	6.39×	5.58×
Cash conversion cycle (days)	64	-265	-274	-281	-314	-302	-202	-214