Brixmor Property Group Inc.BRX
NYSE•Real Estate•REIT - Retail
Brixmor Property Group Inc. owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect their vision (to be the center of the communities we serve) and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores. Brixmor Property Group Inc. was established on May 27, 2011 and is based in New York, United States.
Brixmor Property Group Inc. (BRX) reported trailing twelve months revenue of $1.39B as of March 2026, a 6.6% increase year-over-year. Quarterly revenue reached $354.82M, reflecting continued top-line momentum.
Brixmor Property Group Inc. generated $444.25M in TTM net income, with quarterly EBITDA of $418.11M. The operating margin contracted from 88.4% to 88.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (88.2%) and net margin (36.0%) indicates significant non-operating expenses or interest burden. Net margin has improved from 20.7% a year ago, signaling stronger bottom-line efficiency.
BRX trades at a P/E of 22.1x (in line with broad market averages) and a P/S of 7.1x. The price-to-book ratio of 3.2x reflects a moderate premium to book value.
The company generated $70.20M in free cash flow over the trailing twelve months, a 58.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $9.10B in total assets with $5.50B in long-term debt against $3.04B in stockholders equity for a debt-to-equity ratio of 1.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~88.1%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.7% on average, adequate but below the threshold typically associated with wide moats.
Only 5 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~10.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~88.1% — no sign of cost or pricing stress.
FCF consistently trails net income (avg -0.1x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 1.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.