How Phillips Edison makes money

Period

FY2025

How does Phillips Edison make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Phillips Edison & Company Inc. · FY2025 · year ended 2025-12-31

Revenue$727MGross profit$727M · 100%Cost of revenue$0 · 0%Operating income$199M · 27%Operating expenses$528M · 73%SG&A$52M · 7%Other opex$476M · 66%Pre-tax income$113M · 15%Other expense$86M · 12%Net income$111M · 15%Income tax$0 · 0%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.