WHLR Financials Wheeler Real Estate Investment Trust, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 42 d ago Overview →

Growth & profitability

Revenue has grown 12.7% per year over the past 5 years.
Net income has grown faster than revenue (104.5% vs 12.7% per year).
Operating margin has expanded, at 2468.4% in the latest year.
Free cash flow has grown 6.1% per year over the past 5 years.

Financial health

Total debt has grown slower than revenue (5.6% vs 12.7% per year).
Operating income covered interest expense 11× in the latest year.

Shareholder returns

Dividends have been paid for 4 consecutive years, consuming 74.8% of earnings.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$2M	$9M	0.0%	2468.4%	3747.9%	1.5%	—	—	$24M
2024	$2M	-$10M	0.0%	1732.7%	38.0%	-1.5%	—	—	$43M
2023	$2M	-$5M	0.0%	1475.5%	22.0%	-0.7%	—	$478M	$18M
2022	$1M	-$12M	0.0%	1696.4%	82.1%	-1.8%	$22M	$466M	$28M
2021	$942000	-$9M	0.0%	2071.1%	-507.4%	-2.0%	$11M	$336M	$23M
2020	$964000	$245000	0.0%	1910.6%	1.6%	0.1%	$14M	$347M	$8M
2019	$720000	-$8M	0.0%	1507.5%	-33.6%	-1.7%	$13M	$343M	$5M
2018	—	-$17M	—	—	-39.2%	-3.2%	$16M	$364M	$4M
2017	—	-$12M	—	—	-19.0%	-2.6%	$17M	$308M	$4M
2016	—	-$11M	—	—	-11.8%	-2.3%	$9M	—	$5M
2015	—	-$18M	—	—	-17.8%	-5.7%	-$6M	—	$10M
2014	—	-$11M	—	—	-24.8%	-5.1%	-$3M	—	$10M
2013	—	-$4M	—	—	-19.9%	-2.9%	-$3M	—	$1M
2012	—	-$1M	—	—	-13.4%	-2.2%	-$337221	$32M	$2M
2011	—	-$554599	—	—	-82.9%	-3.7%	$316366	—	$104007

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$452000	$9M	0.0%	2324.8%	151.6%	1.5%	—	—	$32M
Mar '26	$129000	-$2M	0.0%	7896.9%	55.8%	-0.4%	—	—	$24M
Dec '25	$1M	-$819000	0.0%	1044.5%	-350.0%	-0.1%	—	—	$24M
Sep '25	$115000	$12M	0.0%	4776.5%	-292.9%	1.8%	—	—	$27M
Jun '25	$445000	-$2M	0.0%	3360.4%	13.2%	-0.4%	—	—	$28M
Mar '25	$173000	$509000	0.0%	7018.5%	-2.3%	0.1%	—	—	$19M
Dec '24	$1M	$37M	0.0%	417.7%	-147.6%	5.7%	—	—	$43M
Sep '24	$456000	-$33M	0.0%	3046.9%	49.0%	-4.9%	—	—	$37M
Jun '24	$423000	-$5M	0.0%	2723.9%	13.9%	-0.8%	—	—	$20M
Mar '24	$177000	-$9M	0.0%	4224.9%	30.0%	-1.3%	—	$479M	$18M
Dec '23	$621000	$16M	0.0%	1154.1%	-77.2%	2.5%	—	$478M	$18M
Sep '23	$549000	-$14M	0.0%	1691.6%	24.9%	-2.1%	—	$477M	$25M
Jun '23	$257000	-$4M	0.0%	2482.1%	14.9%	-0.6%	—	$469M	$29M
Mar '23	$566000	-$3M	0.0%	1161.5%	15.2%	-0.5%	-$468000	$467M	$25M
Dec '22	$898000	-$4M	0.0%	1110.5%	23.6%	-0.5%	$675000	$466M	$28M
Sep '22	$232000	-$4M	0.0%	1975.9%	43.4%	-0.6%	$15M	$467M	$24M
Jun '22	$155000	-$52000	0.0%	3451.0%	1.1%	-0.0%	$5M	$339M	$25M
Mar '22	$165000	-$5M	0.0%	2843.6%	92.3%	-1.0%	$2M	$331M	$21M
Dec '21	$162000	-$5M	0.0%	2711.1%	-287.6%	-1.2%	-$93000	$336M	$23M
Sep '21	$508000	$3M	0.0%	1380.3%	32.4%	0.6%	$3M	$363M	$36M

Valuation over time

How the market has priced WHLR against its own fundamentals since 2023-04 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 1.1× (Dec '25) to 1.3× (Feb '26).
The price-to-sales ratio has fallen from 805.7× (Apr '23) to 0.6× (Sep '26).
The dividend yield has risen from 0.2% (Apr '23) to 668.5% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is WHLR growing its revenue and profit?

Over the past 5 years, Wheeler Real Estate Investment Trust, Inc.'s revenue has grown 12.7% per year, and net income grown 104.5% per year. These are computed facts, not advice.

How much debt does WHLR have?

As of FY2025, Wheeler Real Estate Investment Trust, Inc. reported — of total debt against $24M of cash; operating income covered interest expense 11×.

What is WHLR's profit margin?

In FY2025, gross margin was —, operating margin 2468.4%, and net margin 500.9%.

What is WHLR's P/E ratio?

As of Sep '26, Wheeler Real Estate Investment Trust, Inc. traded at a price-to-earnings ratio of about 1.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.