Income Statement Brixmor Property Group Inc.

Equities

BRX

US11120U1051

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2024-09-18 pm EDT			5-day change	1st Jan Change
28.05 ^USD	+0.18%		+2.78%	+20.54%

01:16pm	Deutsche Bank Adjusts Brixmor Property Group Price Target to $32 From $27, Maintains Buy Rating	MT
Sep. 16	Evercore ISI Lifts Price Target on Brixmor Property Group to $28 From $27, Keeps In Line Rating	MT

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Published financial data: BRIXMOR PROPERTY GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Rental Revenues	1.17B	1.05B	1.15B	1.22B	1.24B
Tenant Reimbursements	-	-	-	-	-
Other Revenues, Total	1.88M	2.32M	5.97M	712K	1.19M
Total Revenues	1.17B	1.05B	1.15B	1.22B	1.25B
Property Expenses	296M	281M	298M	312M	320M
Selling General & Admin Expenses, Total	102M	98.28M	105M	117M	117M
Depreciation & Amortization - (IS) - (Collected)	332M	336M	327M	345M	362M
Provision for Bad Debts	-	-	-	-	-
Total Operating Expenses	731M	714M	730M	774M	799M
Operating Income (REIT / Utility Template)	438M	339M	422M	444M	446M
Interest Expense, Total	-190M	-200M	-195M	-192M	-191M
Interest and Investment Income	699K	482K	299K	314K	666K
Net Interest Expenses	-189M	-200M	-194M	-192M	-190M
Other Non Operating Income (Expenses)	-2.55M	-5M	-65K	-3.64M	-2.45M
EBT, Excl. Unusual Items	246M	134M	227M	249M	253M
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	54.77M	34.5M	73.09M	112M	65.44M
Asset Writedown	-24.4M	-19.55M	-1.9M	-5.72M	-17.84M
Other Unusual Items	-1.62M	-28.05M	-28.34M	-221K	4.36M
EBT, Incl. Unusual Items	275M	121M	270M	354M	305M
Earnings From Continuing Operations	275M	121M	270M	354M	305M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	275M	121M	270M	354M	305M
Minority Interest	-	-	-	-	-
Net Income - (IS)	275M	121M	270M	354M	305M
Preferred Dividend and Other Adjustments	649K	410K	748K	1M	828K
Net Income to Common Incl Extra Items	274M	121M	269M	353M	304M
Net Income to Common Excl. Extra Items	274M	121M	269M	353M	304M
Per Share Items
Net EPS - Basic	0.92	0.41	0.91	1.18	1.01
Basic EPS - Continuing Operations	0.92	0.41	0.91	1.18	1.01
Basic Weighted Average Shares Outstanding	298M	297M	297M	300M	301M
Net EPS - Diluted	0.92	0.41	0.9	1.17	1.01
Diluted EPS - Continuing Operations	0.92	0.41	0.9	1.17	1.01
Diluted Weighted Average Shares Outstanding	299M	298M	299M	302M	302M
Normalized Basic EPS	0.52	0.28	0.48	0.52	0.53
Normalized Diluted EPS	0.51	0.28	0.48	0.51	0.52
Dividend Per Share	1.12	0.5	0.88	0.98	1.05
Payout Ratio	121.88	140.62	95.2	81.77	103.34
Supplemental Items
EBITDA	738M	658M	736M	777M	795M
EBITA	445M	341M	424M	451M	449M
EBIT	438M	339M	422M	444M	446M
EBITDAR	745M	665M	743M	783M	801M
Total Revenues (As Reported)	1.17B	1.05B	1.15B	1.22B	1.25B
Normalized Net Income	154M	83.92M	142M	155M	158M
Interest Capitalized	3.48M	4.23M	4.01M	3.08M	4.15M
Supplemental Operating Expense Items
General and Administrative Expenses	102M	98.28M	105M	117M	117M
Net Rental Expense, Total	7.31M	7.62M	6.25M	6.14M	6.11M
Imputed Operating Lease Interest Expense	2.31M	2.45M	1.9M	1.87M	1.9M
Imputed Operating Lease Depreciation	5.01M	5.17M	4.35M	4.28M	4.22M
Stock-Based Comp., G&A Exp. (Total)	12.66M	10.95M	17.09M	23.41M	20.78M
Total Stock-Based Compensation	12.66M	10.95M	17.09M	23.41M	20.78M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Gross Property Plant And Equipment	9.55B	9.63B	9.91B	10.39B	10.52B
Accumulated Depreciation	-1.95B	-2.15B	-2.33B	-2.53B	-2.75B
Net Property Plant And Equipment	7.6B	7.48B	7.58B	7.86B	7.77B
Total Real Estate Assets	7.6B	7.48B	7.58B	7.86B	7.77B
Cash And Equivalents	19.1M	369M	297M	16.49M	866K
Accounts Receivable, Total	234M	240M	235M	264M	279M
Investment In Debt and Equity Securities	18.05M	19.55M	20.22M	21.67M	24.28M
Other Intangibles, Total	81.86M	58.75M	63.32M	77.51M	59.5M
Restricted Cash	2.43M	1.41M	1.11M	4.77M	18.04M
Other Current Assets, Total	22.17M	18.01M	16.13M	10.44M	-
Trading Asset Securities, Total	3.8M	-	-	-	-
Deferred Charges Long-Term	144M	139M	144M	154M	164M
Other Long-Term Assets, Total	16.52M	16.8M	20.51M	26.93M	17.44M
Total Assets	8.14B	8.34B	8.38B	8.44B	8.33B
Liabilities
Current Portion of Long-Term Debt	13.45M	28.22M	12.58M	-	307M
Current Portion of Leases	7.04M	6.26M	5.99M	6.06M	6.07M
Long-Term Debt	4.86B	5.17B	5.16B	5.04B	4.63B
Long-Term Leases	37.67M	32.34M	27.73M	33.87M	30.04M
Accounts Payable, Total	287M	276M	293M	317M	338M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	87.62M	66M	74.4M	81.6M	85.7M
Other Non Current Liabilities	105M	85.4M	80.9M	96.8M	82.6M
Total Liabilities	5.4B	5.66B	5.66B	5.57B	5.48B
Common Stock, Total	2.98M	2.96M	2.97M	3M	3.01M
Additional Paid In Capital	3.23B	3.21B	3.23B	3.3B	3.31B
Distributions In Excess Of Earnings	-480M	-508M	-504M	-446M	-461M
Comprehensive Income and Other	-9.54M	-28.06M	-12.67M	8.85M	-2.7M
Total Common Equity	2.74B	2.68B	2.72B	2.87B	2.85B
Minority Interest	-	-	-	-	-
Total Equity	2.74B	2.68B	2.72B	2.87B	2.85B
Total Liabilities And Equity	8.14B	8.34B	8.38B	8.44B	8.33B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	298M	297M	298M	301M	301M
ECS Total Common Shares Outstanding	298M	296M	297M	300M	301M
Book Value / Share	9.21	9.04	9.15	9.55	9.48
Tangible Book Value	2.66B	2.62B	2.66B	2.79B	2.79B
Tangible Book Value Per Share	8.94	8.84	8.93	9.29	9.28
Total Debt	4.92B	5.23B	5.21B	5.08B	4.98B
Net Debt	4.9B	4.87B	4.91B	5.06B	4.98B
Debt Equivalent Oper. Leases	58.5M	60.93M	50M	49.15M	48.9M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	1.77B	1.74B	1.77B	1.82B	1.79B
Buildings, Total	7.74B	7.86B	8.11B	8.54B	8.7B
Full Time Employees	477	474	500	500	510
Part Time Employees	-	6	1	2	3
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	275M	121M	270M	354M	305M
Depreciation, Depletion & Amortization	293M	316M	312M	326M	346M
Amortization of Goodwill and Intangible Assets - (CF)	6.98M	2.6M	2.6M	6.74M	3.74M
Total Depreciation, Depletion & Amortization	300M	319M	315M	333M	350M
Amortization of Deferred Charges, Total	7.06M	11.11M	12.44M	10.98M	10.74M
(Gain) Loss On Sale of Asset - (CF)	-54.77M	-34.5M	-73.09M	-112M	-65.44M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	24.4M	19.55M	1.9M	5.72M	17.84M
Stock-Based Compensation (CF)	12.66M	10.95M	17.09M	23.41M	20.78M
Change in Accounts Receivable	-27M	-9.8M	2.19M	-31.95M	-16.51M
Change in Accounts Payable	2.63M	1.58M	12.32M	24.66M	15.44M
Change in Other Net Operating Assets (Collected)	-30.88M	-23.04M	-30.82M	-39M	-41.34M
Other Operating Activities	19.89M	26.98M	25.48M	-2.64M	-7.3M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	529M	443M	552M	566M	589M
Acquisition of Real Estate Assets, Total	-475M	-288M	-567M	-740M	-347M
Sale of Real Estate Assets, Total	290M	122M	237M	280M	182M
Net Sale / Acquisition of Real Estate Assets	-185M	-166M	-330M	-460M	-165M
Investment in Marketable and Equity Securities, Total	12.51M	-1.46M	-1.03M	-2.22M	2.09M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-172M	-167M	-331M	-462M	-163M
Long-Term Debt Issued, Total	1.06B	1.47B	848M	800M	726M
Total Debt Issued	1.06B	1.47B	848M	800M	726M
Long-Term Debt Repaid, Total	-1.09B	-1.16B	-850M	-925M	-826M
Total Debt Repaid	-1.09B	-1.16B	-850M	-925M	-826M
Issuance of Common Stock	-	-	5.15M	53.1M	-
Repurchase of Common Stock	-16.28M	-28.55M	-5.51M	-10.49M	-11.24M
Common Dividends Paid	-335M	-170M	-257M	-290M	-315M
Common & Preferred Stock Dividends Paid	-335M	-170M	-257M	-290M	-315M
Other Financing Activities, Total	-7.29M	-34.74M	-33.72M	-8.39M	-783K
Cash from Financing	-386M	72.71M	-294M	-380M	-428M
Net Change in Cash	-29.24M	349M	-72.34M	-276M	-2.36M
Supplemental Items
Cash Interest Paid	179M	183M	191M	375M	187M
Cash Income Tax Paid (Refund)	2.13M	3.58M	1.65M	3.9M	2.32M
Net Debt Issued / Repaid	-27.38M	306M	-2.26M	-125M	-101M
Levered Free Cash Flow	439M	395M	519M	529M	547M
Unlevered Free Cash Flow	551M	512M	633M	642M	660M
Change In Net Working Capital	35.42M	33.31M	-33.07M	-4.13M	-7.15M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.34	2.57	3.15	3.3	3.32
Return on Total Capital	3.56	2.72	3.33	3.5	3.53
Return On Equity %	9.85	4.47	10.01	12.69	10.68
Return on Common Equity	9.83	4.45	9.98	12.65	10.65
Margin Analysis
Gross Profit Margin %	74.67	73.36	74.16	74.4	74.3
SG&A Margin	8.76	9.33	9.15	9.62	9.41
EBITDA Margin %	63.13	62.46	63.91	63.78	63.87
EBITA Margin %	38.06	32.41	36.84	37.03	36.09
EBIT Margin %	37.46	32.16	36.61	36.48	35.79
Income From Continuing Operations Margin %	23.52	11.5	23.45	29.08	24.5
Net Income Margin %	23.52	11.5	23.45	29.08	24.5
Net Avail. For Common Margin %	23.46	11.47	23.38	29	24.44
Normalized Net Income Margin	13.16	7.97	12.33	12.75	12.71
Levered Free Cash Flow Margin	37.59	37.46	45.05	43.39	43.97
Unlevered Free Cash Flow Margin	47.14	48.61	54.96	52.69	53
Asset Turnover
Asset Turnover	0.14	0.13	0.14	0.14	0.15
Fixed Assets Turnover	0.15	0.14	0.15	0.16	0.16
Receivables Turnover (Average Receivables)	5.04	4.43	4.82	4.88	4.58
Short Term Liquidity
Current Ratio	0.71	1.67	1.42	0.73	0.4
Quick Ratio	0.65	1.62	1.38	0.69	0.38
Operating Cash Flow to Current Liabilities	1.34	1.18	1.43	1.4	0.8
Days Sales Outstanding (Average Receivables)	72.37	82.64	75.65	74.81	79.66
Average Days Payable Outstanding	365.46	366.87	348.6	357.07	373.4
Long Term Solvency
Total Debt/Equity	179.29	195.25	191.69	177.15	174.6
Total Debt / Total Capital	64.19	66.13	65.72	63.92	63.58
LT Debt/Equity	178.54	193.97	191.01	176.94	163.6
Long-Term Debt / Total Capital	63.93	65.7	65.48	63.84	59.58
Total Liabilities / Total Assets	66.3	67.87	67.55	66.04	65.79
EBIT / Interest Expense	2.31	1.69	2.17	2.31	2.34
EBITDA / Interest Expense	3.93	3.33	3.81	4.07	4.2
(EBITDA - Capex) / Interest Expense	3.93	3.33	3.81	4.07	4.2
Total Debt / EBITDA	6.6	7.87	7.02	6.48	6.21
Net Debt / EBITDA	6.57	7.31	6.62	6.46	6.21
Total Debt / (EBITDA - Capex)	6.6	7.87	7.02	6.48	6.21
Net Debt / (EBITDA - Capex)	6.57	7.31	6.62	6.46	6.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.35	-9.84	9.4	5.71	2.21
Gross Profit, 1 Yr. Growth %	-5.25	-11.43	10.59	6.06	2.07
EBITDA, 1 Yr. Growth %	-6.69	-12.43	11.94	5.5	2.35
EBITA, 1 Yr. Growth %	-6.08	-23.22	24.34	6.27	-0.38
EBIT, 1 Yr. Growth %	-5.84	-22.59	24.53	5.32	0.3
Earnings From Cont. Operations, 1 Yr. Growth %	-24.98	-55.9	122.98	31.09	-13.86
Net Income, 1 Yr. Growth %	-24.98	-55.9	122.98	31.09	-13.86
Diluted EPS Before Extra, 1 Yr. Growth %	-24.04	-55.76	121.32	30	-13.68
Normalized Net Income, 1 Yr. Growth %	-0.6	-45.42	69.31	9.34	1.83
Net Property, Plant and Equip., 1 Yr. Growth %	-0.55	-1.59	1.36	3.68	-1.15