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Empire State Realty OP, L.p. vs Highwoods Properties

Empire State Realty OP, L.p. and Highwoods Properties are similar in size: $768m and $806m of revenue in their latest fiscal years. Empire State Realty OP, L.p. grew faster (0.0% against -2.4%). Highwoods Properties kept more of each dollar of sales as profit: a net margin of 19.5% against 9.0%.

Latest fiscal yearEmpire State Realty OP, L.p.ESBA, 2025Highwoods PropertiesHIW, 2025
Revenue $768m $806m
Revenue growth 0.0% -2.4%
Net income $68.8m $157m
Operating margin 17.7% 67.6%
Net margin 9.0% 19.5%
Return on equity — 6.6%
Free cash flow $50.6m —
Cash $133m $27.4m
Total debt $2.39bn $0
Debt to equity — 0.0%
Dividend per share — —
Dividend yield 3.0% 6.4%
Share buybacks $8.1m —
Employees 407 315
Market value $1.33bn $3.39bn
Price vs our value range — —
Moat score 40 (Weak) 67 (Moderate)
Insider trades, 12 months 0 buys, 0 sales 0 buys, 0 sales

Each figure is from the company's latest annual report and links to the page it comes from. Fiscal years can end on different dates. Market value and the value verdict use the delayed price shown on the stock pages. Not a recommendation.

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Figures from each company's latest annual report filed with the SEC (10-K or 20-F), as reported, with the fiscal year shown. Not investment advice. How we read filings: methodology.