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Stocks · Real estate · Real Estate Investment Trusts

Wheeler Real Estate Investment Trust, Inc.

WHLR Clue Score58
United States Fiscal year ends December CIK 0001527541
$0.57 -18.03% Close, 9 Oct 2026
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Price $0.57 −79.57% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue44.2Operating income−0.3Net income−11.2Fiscal year 2017Revenue58.5 +32.6%Operating income1.6Net income−12.1Fiscal year 2018Revenue65.3 +11.5%Operating income2.5Net income−16.5Fiscal year 2019Revenue0.7 −98.9%Operating income10.9Net income−8.0Fiscal year 2020Revenue1.0 +33.9%Operating income18.4Net income0.2EPS, diluted−0.96Fiscal year 2021Revenue0.9 −2.3%Operating income19.5Net income−9.4 −3,954.3%EPS, diluted−1.36Fiscal year 2022Revenue1.5 +53.9%Operating income24.6Net income−12.5EPS, diluted−22.04Fiscal year 2023Revenue2.0 +37.4%Operating income29.4Net income−4.7EPS, diluted−13,157.97Fiscal year 2024Revenue2.2 +8.7%Operating income37.5Net income−9.6EPS, diluted−346,484.38Fiscal year 2025Revenue1.8 −19.2%Operating income43.2Net income8.8EPS, diluted−36.01
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 44.2 58.5 65.3 0.7 1.0 0.9 1.5 2.0 2.2 1.8
Growth +32.6% +11.5% −98.9% +33.9% −2.3% +53.9% +37.4% +8.7% −19.2%
Operating income −0.3 1.6 2.5 10.9 18.4 19.5 24.6 29.4 37.5 43.2
Net income −11.2 −12.1 −16.5 −8.0 0.2 −9.4 −12.5 −4.7 −9.6 8.8
Growth −3,954.3%
EPS, diluted n/a n/a n/a n/a −0.96 −1.36 −22.04 −13,157.97 −346,484.38 −36.01

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−0.7%Net margin−25.4%Free cash flow margin20.9%Fiscal year 2017Operating margin2.7%Net margin−20.7%Free cash flow margin28.2%Fiscal year 2018Operating margin3.8%Net margin−25.3%Free cash flow margin25.2%Fiscal year 2019Operating margin1,507.5%Net margin−1,116.5%Free cash flow margin1,741.9%Fiscal year 2020Operating margin1,910.6%Net margin25.4%Free cash flow margin1,401.3%Fiscal year 2021Operating margin2,071.1%Net margin−1,002.4%Free cash flow margin1,128.3%Fiscal year 2022Operating margin1,696.4%Net margin−858.9%Free cash flow margin1,534.3%Fiscal year 2023Operating margin1,475.5%Net margin−235.2%Fiscal year 2024Operating margin1,732.7%Net margin−444.7%Fiscal year 2025Operating margin2,468.4%Net margin500.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −0.7% 2.7% 3.8% 1,507.5% 1,910.6% 2,071.1% 1,696.4% 1,475.5% 1,732.7% 2,468.4%
Net margin −25.4% −20.7% −25.3% −1,116.5% 25.4% −1,002.4% −858.9% −235.2% −444.7% 500.9%
Free cash flow margin 20.9% 28.2% 25.2% 1,741.9% 1,401.3% 1,128.3% 1,534.3% n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow11.1Capital expenditure−1.9Free cash flow9.2Dividends paid−17.7Fiscal year 2017Operating cash flow23.8Capital expenditure−7.3Free cash flow16.5 +79.2%Dividends paid−20.7Fiscal year 2018Operating cash flow22.0Capital expenditure−5.6Free cash flow16.4 −0.5%Dividends paid−14.6Fiscal year 2019Operating cash flow15.3Capital expenditure−2.7Free cash flow12.5 −23.7%Dividends paid0.0Fiscal year 2020Operating cash flow15.8Capital expenditure−2.3Free cash flow13.5 +7.7%Fiscal year 2021Operating cash flow17.0Capital expenditure−6.4Free cash flow10.6 −21.3%Dividends paid0.0Fiscal year 2022Operating cash flow30.8Capital expenditure−8.5Free cash flow22.2 +109.3%Dividends paid−2.7Fiscal year 2023Operating cash flow20.9Dividends paid−10.8Fiscal year 2024Operating cash flow26.0Dividends paid−10.4Fiscal year 2025Operating cash flow21.1Dividends paid−6.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 11.1 23.8 22.0 15.3 15.8 17.0 30.8 20.9 26.0 21.1
Capital expenditure −1.9 −7.3 −5.6 −2.7 −2.3 −6.4 −8.5 n/a n/a n/a
Free cash flow 9.2 16.5 16.4 12.5 13.5 10.6 22.2 n/a n/a n/a
Growth +79.2% −0.5% −23.7% +7.7% −21.3% +109.3%
Dividends paid −17.7 −20.7 −14.6 0.0 n/a 0.0 −2.7 −10.8 −10.4 −6.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash4.9Shareholders’ equity94.8Fiscal year 2017Cash3.7Total debt308.1Net cash (debt)−304.4Shareholders’ equity63.5Debt to equity4.85Fiscal year 2018Cash3.5Total debt364.5Net cash (debt)−360.9Shareholders’ equity42.1Debt to equity8.67Fiscal year 2019Cash5.5Total debt342.9Net cash (debt)−337.4Shareholders’ equity23.9Debt to equity14.33Fiscal year 2020Cash7.7Total debt347.1Net cash (debt)−339.4Shareholders’ equity14.9Debt to equity23.27Fiscal year 2021Cash22.9Total debt336.4Net cash (debt)−313.5Shareholders’ equity1.9Debt to equity180.78Fiscal year 2022Cash28.5Total debt466.0Net cash (debt)−437.5Shareholders’ equity−15.2Fiscal year 2023Cash18.4Total debt477.6Net cash (debt)−459.2Shareholders’ equity−21.3Fiscal year 2024Cash43.0Shareholders’ equity−25.4Fiscal year 2025Cash23.7Shareholders’ equity0.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.9 3.7 3.5 5.5 7.7 22.9 28.5 18.4 43.0 23.7
Total debt n/a 308.1 364.5 342.9 347.1 336.4 466.0 477.6 n/a n/a
Net cash (debt) n/a −304.4 −360.9 −337.4 −339.4 −313.5 −437.5 −459.2 n/a n/a
Shareholders’ equity 94.8 63.5 42.1 23.9 14.9 1.9 −15.2 −21.3 −25.4 0.2
Debt to equity n/a 4.85 8.67 14.33 23.27 180.78 n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−0.7% 2.7% 3.8% 1,507.5% 1,910.6% 2,071.1% 1,696.4% 1,475.5% 1,732.7% 2,468.4%
−29.3% −24.2% −27.2% −1,129.0% 29.8% −992.5% −584.1% 307.6% 32.9% 848.8%
−25.4% −20.7% −25.3% −1,116.5% 25.4% −1,002.4% −858.9% −235.2% −444.7% 500.9%
20.9% 28.2% 25.2% 1,741.9% 1,401.3% 1,128.3% 1,534.3% n/a n/a n/a
Spending
22.5% 12.6% 12.6% 921.3% 604.9% 758.0% 594.5% 589.6% 498.4% 668.7%
4.3% 12.5% 8.5% 376.5% 235.6% 680.7% 587.0% n/a n/a n/a
n/a n/a n/a n/a 0.0% n/a n/a 0.8% 0.1% 0.2%
Returns
−11.8% −19.0% −39.2% −33.6% 1.6% −507.4% n/a n/a n/a 3,747.9%
−2.3% −2.6% −3.2% −1.7% 0.1% −2.0% −1.8% −0.7% −1.5% 1.5%
Balance and payout
n/a 4.85 8.67 14.33 23.27 180.78 n/a n/a n/a n/a
67.7% 72.9% 76.1% 76.6% 77.0% 79.3% 77.7% 78.8% 82.2% 84.3%
n/a n/a n/a n/a n/a n/a n/a n/a n/a 74.8%
192.0% 125.6% 88.8% 0.0% n/a 0.0% 12.1% n/a n/a n/a