What is Phillips Edison & Company's assumed below-market debt?

Phillips Edison & Company (PECO) reported assumed below-market debt of $0 in Q4 2025.

What does assumed below-market debt mean?

Reflects the non-cash adjustment for debt assumed during an acquisition that carries an interest rate below current market rates. This metric is used to reconcile the fair value of debt at the time of acquisition versus its stated face value.

Phillips Edison & Company PECO Assumed below-market debt

Assumed below-market debt at other companies

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$0—

StoneX Group Inc.SNEX

$7.2M+22.0%

Henry ScheinHSIC

$750K—

Sirius XMSIRI

$0—

EvercoreEVR

$6.98M—

OkloOKLO

$0-100%

Other financials

Income statement

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Revenue$190.7M+7.0%

Net income$30.4M+15.5%

EPS (diluted)$0.24+14.3%

Balance sheet

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Cash & equivalents$3.1M-42.5%

Total debt$2.5B+9.3%

Total equity$2.3B-1.4%

Total assets$5.4B+3.7%

Cash flow

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Operating cash flow$55.6M-8.2%

CapEx$13.3M+37.7%

Free cash flow$42.3M-16.9%

Valuation

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Market cap$5.13B+3.0%

Enterprise value$7.61B+5.2%

P/E44.4×-25.3×

P/S6.9×-0.4×

Profitability

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Net margin15.6%+5.1pp

FCF margin44.1%-1.8pp

Returns & leverage

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Return on equity5%+1.9pp

Debt / equity1.1×+0.1×

Where this comes from

Reported directly by Phillips Edison & Company in its filing.

Tagged under the XBRL concept cik0001476204:NoncashOrPartNoncashAcquisitionAssumedBelowMarketDebt.

The official record: Phillips Edison & Company’s 10-K, filed February 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Phillips Edison & Company's assumed below-market debt?: Phillips Edison & Company (PECO) reported assumed below-market debt of $0 in Q4 2025.
What does assumed below-market debt mean?: Reflects the non-cash adjustment for debt assumed during an acquisition that carries an interest rate below current market rates. This metric is used to reconcile the fair value of debt at the time of acquisition versus its stated face value.