Federal Realty Investment Trust — Earnings Quality Grade F
FRT · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 71 days, change +2 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 6.4%, CFFO 8.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 18.1% vs revenue 6.4%. Normal
SG&A/Gross Profit = 5.5%, excellent (<30%)
Gross margin 67.2%, change -0.2pp. Stable
Cash Flow Quality
CFFO/NI = 1.51. Profits backed by cash
FCF $0.3B, FCF/NI = 0.81
Accruals ratio = -2.3%. Low accruals
Cash $0.1B covers only 2% of debt $5.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 5.2x (>4x). Financial stress
Other assets grew 23.9% vs revenue 6.4%
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.50 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
Federal Realty Investment Trust is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09