REG (Regency Centers) Operating Income: $592 Mil (TTM As of Mar. 2026)

What is Regency Centers Operating Income?

Regency Centers REG -0.40% 81 Operating Income is $592 Mil as of Mar. 2026. GuruFocus rates REG with a GF Score™ of 81/100 and a GF Value™ of $76.61 (Fairly Valued). The stock has 8 warning signs investors should review.

Regency Centers's Operating Income for the three months ended in Mar. 2026 was $155 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $592 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Regency Centers's Operating Income for the three months ended in Mar. 2026 was $155 Mil. Regency Centers's Revenue for the three months ended in Mar. 2026 was $412 Mil. Therefore, Regency Centers's Operating Margin % for the quarter that ended in Mar. 2026 was 37.51%.

Good Sign:

Regency Centers Corp operating margin is expanding. Margin expansion is usually a good sign.

Regency Centers's 5-Year average Growth Rate for Operating Margin % was 4.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Regency Centers's annualized ROC % for the quarter that ended in Mar. 2026 was 4.87%. Regency Centers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 222.61%.

Regency Centers (NAS:REG) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Regency Centers's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	618.856 * ( 1 - 0% )	/	( (12710.033	+	12704.501)	/ 2 )
=	618.856	/	12707.267
=	4.87 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	13001.283	-	391.847	-	( 104.657	-	max(0, 511.847	-	411.25	+	104.657	))
=	12710.033

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	13046.484	-	200.885	-	( 141.098	-	max(0, 230.885	-	429.987	+	141.098	))
=	12704.501

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Regency Centers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	747.544	/	( ( (328.532 + max(-165.394, 0))	+	(331.187 + max(11.89, 0)) )	/	2 )
=	747.544	/	( ( 328.532	+	343.077 )	/	2 )
=	747.544	/	335.8045
=	222.61 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(210.449	+	0	+	16.004)	-	(391.847	+	0	+	0)
=	-165.394

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(208.313	+	0	+	4.462)	-	(200.885	+	0	+	0)
=	11.89

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Regency Centers's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	154.714	/	412.453
	=	37.51 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Regency Centers Operating Income Related Terms

Regency Centers Operating Income Historical Data

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The historical data trend for Regency Centers's Operating Income can be seen below:

Regency Centers Operating Income Chart

Regency Centers Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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452.18

472.31

468.15

513.81

583.07

Regency Centers Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															146.03	145.63	143.39	148.01	154.71

81GF Score

Regency Centers Corp REG

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Regency Centers Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $592 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $592 Mil mean?

Regency Centers (REG) has a Operating Income of $592 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Regency Centers and its competitors.

Is Regency Centers' Operating Income too high?

Regency Centers' current Operating Income is $592 Mil. Overall, Regency Centers has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Regency Centers' Operating Income compare to KIM and FRT?

Regency Centers' Operating Income of $592 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a REITs company?

A good Operating Income depends on the REITs industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Regency Centers and its competitors. Regency Centers's current Operating Income is $592 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Regency Centers stock overvalued right now?

Based on GuruFocus' analysis, Regency Centers (REG) is currently considered Fairly Valued. The stock's GF Value™ is $76.61, compared to a current price of $79.41 — trading 3.6% above its estimated fair value. The current Operating Income is $592 Mil. Regency Centers' overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Regency Centers (REG), the current Operating Income is $592 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Regency Centers (REG) Overvalued in 2026?

Based on GuruFocus' analysis, Regency Centers stock appears to be overvalued. The current stock price of $79.41 is trading 3.6% above its estimated GF Value™ of $76.61. GuruFocus considers Regency Centers to be Fairly Valued.

Key valuation signals for REG:

Operating Income: $592 Mil
GF Value™: $76.61 vs. price of $79.41 (3.6% above fair value)
GF Score™: 81/100 with 8 warning signs

No single metric tells the full story. See the REG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Regency Centers Business Description

Industry Real Estate REITs

Comparable Companies KIM FRT BRX ADC NNN MAC EPRT KRG PECO SKT SPG O XPAR:URW SGX:C38U ASX:SCG XPAR:LI HKSE:00823 ASX:VCX TSX:CHP.UN TSE:8953

Other Exchanges 0KUT:UK RRC:Germany R1EG34:Brazil

Address One Independent Drive, Suite 114, Jacksonville, FL, USA, 32202

Website https://www.regencycenters.com

Regency Centers is one of the largest shopping center-focused retail REITs. The company's portfolio includes an interest in 481 properties, which includes over 58 million square feet of retail space following the completion of the Urstadt Biddle acquisition in August 2023. The portfolio is geographically diversified with 22 regional offices and no single market representing more than 12% of total company net operating income. Regency's retail portfolio is primarily composed of grocery-anchored centers, with 80% of properties featuring a grocery anchor and grocery stores representing 20% of annual base rent.

81GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$79.41

Price

$76.61

GF Value

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