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Tanger Inc. is a leading owner and operator of outlet and open-air retail shopping destinations, with over 45 years of expertise in the retail and outlet shopping industries. Tanger portfolio of 38 outlet centers and three open-air lifestyle centers comprises more than 16 million square feet well positioned across tourist destinations and vibrant markets in 22 U.S. states and Canada. A publicly traded REIT since 1993, Tanger continues to innovate the retail experience for its shoppers with over 3,000 stores operated by more than 800 different brand name companies. Tanger Inc. was incorporated in 1981 in North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $582M | $336M | $115M | $295M | 16.2% | 10.5% | 16.4% |
| 2024 | $526M | $302M | $99M | $261M | 15.1% | 13.3% | -0.6% |
| 2023 | $464M | $261M | $99M | $230M | 17.5% | 4.9% | 20.8% |
| 2022 | $443M | $245M | $82M | $214M | 16.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 442.61 | 464.41 | 526.06 | 581.56 |
| Cost Of Revenue | - | 143.94 | 145.55 | 158.73 | 176.50 |
| Gross Profit | - | 298.68 | 318.86 | 367.33 | 405.06 |
| Operating Expense | - | 183.44 | 185.02 | 216.71 | 229.70 |
| Operating Income | - | 115.24 | 133.84 | 150.62 | 175.36 |
| EBITDA | - | 244.70 | 260.70 | 302.09 | 336.34 |
| EBIT | - | 132.80 | 151.81 | 163.40 | 185.36 |
| Pretax Income | - | 85.83 | 103.88 | 102.76 | 119.50 |
| Net Income | - | 82.06 | 99.15 | 98.60 | 114.78 |
| Net Income Common Stockholders | - | 81.19 | 97.96 | 97.68 | 113.90 |
| Total Expenses | - | 327.37 | 330.57 | 375.44 | 406.20 |
| Interest Expense | - | 46.97 | 47.93 | 60.64 | 65.86 |
| Selling General And Administration | - | 71.53 | 76.13 | 78.02 | 78.72 |
| Normalized EBITDA | - | 241.77 | 260.70 | 302.09 | 340.59 |
| Normalized Income | - | 79.75 | 99.15 | 98.60 | 118.13 |
| Market Cap | 4,199.96 | 4,199.96 | 4,199.96 | 4,199.96 | 4,199.96 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tanger Inc.this co. | SKT | $4.2B | 36.59 | 5.94 | 16.2% | 17.45 |
| Phillips Edison & Company, Inc. | PECO | $4.9B | 44.66 | 2.17 | 4.9% | 14.93 |
| Millrose Properties, Inc. | MRP | $4.8B | 13.43 | 0.87 | 6.5% | 14.59 |
| The St. Joe Company | JOE | $4.1B | 35.34 | 5.33 | 15.1% | 19.43 |
| Broadstone Net Lease, Inc. | BNL | $3.8B | 39.75 | 1.32 |
| - |
| - |
| - |
| - |
| 3.3% |
| 17.58 |
| Acadia Realty Trust | AKR | $3.5B | 162.21 | 1.23 | 0.8% | 21.69 |
| Blackstone Mortgage Trust, Inc. | BXMT | $3.4B | 30.92 | 0.97 | 3.1% | - |
| Cushman & Wakefield Limited | CWK | $3.3B | 38.12 | 1.72 | 4.5% | 10.70 |
| LXP Industrial Trust | LXP | $3.2B | 26.43 | 1.54 | 5.8% | 10.46 |
| Peer Median | - | 36.73 | 1.43 | 4.7% | 14.93 | |