8-K Announcements
6Feb 11, 2026·SEC
Nov 14, 2025·SEC
Nov 5, 2025·SEC
Highwoods Properties, Inc. (HIW) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when HIW posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Highwoods Properties, Inc. (HIW) stock price & volume — 10-year historical chart
Highwoods Properties, Inc. (HIW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Highwoods Properties, Inc. (HIW) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.84vs $0.84+0.0% | $214Mvs $209M+2.4% |
| Q1 2026 | Feb 10, 2026 | $0.26vs $0.84-69.0% | $203Mvs $208M-2.4% |
| Q4 2025 | Oct 28, 2025 | $0.86vs $0.86+0.0% | $202Mvs $208M-3.1% |
| Q3 2025 | Jul 29, 2025 | $0.89vs $0.85+4.7% | $202Mvs $206M-2.0% |
Highwoods Properties, Inc. (HIW) competitors in Sun Belt and Multi-Market Office REITs — business model, growth, and fundamentals comparison
Highwoods Properties, Inc. (HIW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Highwoods Properties, Inc. (HIW) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 702.74M | 720.03M | 735.98M | 736.9M | 768.01M | 828.93M | 834M | 825.86M | 806.11M | 819.76M |
Revenue Growth % | 5.57% | 2.46% | 2.21% | 0.13% | 4.22% | 7.93% | 0.61% | -0.98% | -2.39% | 0.43% |
Property Operating Expenses | 236.89M | 242.41M | 248.51M | 231.82M | 236.44M | 259.81M | 268.78M | 272.17M | 261.37M | 267.46M |
Net Operating Income (NOI) | 465.85M▲ 0% | 477.62M▲ 2.5% | 487.47M▲ 2.1% | 505.07M▲ 3.6% | 531.57M▲ 5.2% | 569.12M▲ 7.1% | 565.22M▼ 0.7% | 553.69M▼ 2.0% | 544.74M▼ 1.6% | 552.31M▲ 0% |
NOI Margin % | 66.29% | 66.33% | 66.23% | 68.54% | 69.21% | 68.66% | 67.77% | 67.04% | 67.58% | 67.37% |
Operating Expenses | 267.48M | 269.96M | 298.57M | 282.62M | 299.81M | 329.88M | 342.27M | 340.95M | 335.26M | 342.37M |
G&A Expenses | 39.65M | 40.01M | 44.07M | 41.03M | 40.55M | 42.27M | 42.86M | 41.9M | 40.31M | 41.28M |
EBITDA | 707.42M | 723.62M | 443.4M | 464.04M | 491.02M | 526.86M | 522.36M | 511.79M | 504.43M | 511.02M |
EBITDA Margin % | 100.67% | 100.5% | 60.25% | 62.97% | 63.93% | 63.56% | 62.63% | 61.97% | 62.58% | 62.34% |
Depreciation & Amortization | 509.05M | 515.96M | 254.5M | 241.59M | 259.25M | 287.61M | 299.41M | 299.05M | 294.95M | 301.09M |
D&A / Revenue % | 72.44% | 71.66% | 34.58% | 32.78% | 33.76% | 34.7% | 35.9% | 36.21% | 36.59% | 36.73% |
Operating Income | 198.37M▲ 0% | 207.66M▲ 4.7% | 188.9M▼ 9.0% | 222.46M▲ 17.8% | 231.76M▲ 4.2% | 239.25M▲ 3.2% | 222.95M▼ 6.8% | 212.74M▼ 4.6% | 209.48M▼ 1.5% | 209.94M▲ 0% |
Operating Margin % | 28.23% | 28.84% | 25.67% | 30.19% | 30.18% | 28.86% | 26.73% | 25.76% | 25.99% | 25.61% |
Interest Expense | 69.11M | 71.42M | 81.65M | 80.96M | 85.85M | 105.39M | 136.71M | 147.2M | 152.43M | 4M |
Interest Coverage | 3.77x | 3.49x | 2.74x | 5.42x | 4.77x | 2.56x | 2.11x | 1.71x | 2.07x | - |
Non-Operating Income | -62.4M | -41.39M | -34.43M | -216.42M | -177.4M | -30.1M | -65.09M | -38.71M | -105.61M | -20.45M |
Pretax Income | 191.66M▲ 0% | 177.63M▼ 7.3% | 141.68M▼ 20.2% | 357.91M▲ 152.6% | 323.31M▼ 9.7% | 163.96M▼ 49.3% | 151.33M▼ 7.7% | 104.25M▼ 31.1% | 162.65M▲ 56.0% | 96.02M▲ 0% |
Pretax Margin % | 27.27% | 24.67% | 19.25% | 48.57% | 42.1% | 19.78% | 18.15% | 12.62% | 20.18% | 11.71% |
Income Tax | 83.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 43.82% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | 185.37M▲ 0% | 171.84M▼ 7.3% | 136.92M▼ 20.3% | 347.4M▲ 153.7% | 313.28M▼ 9.8% | 159.06M▼ 49.2% | 148.72M▼ 6.5% | 102.25M▼ 31.2% | 159.61M▲ 56.1% | 93.48M▲ 0% |
Net Margin % | 26.38% | 23.86% | 18.6% | 47.14% | 40.79% | 19.19% | 17.83% | 12.38% | 19.8% | 11.4% |
Net Income Growth % | -64.64% | -7.3% | -20.32% | 153.73% | -9.82% | -49.23% | -6.5% | -31.25% | 56.1% | -46.16% |
Funds From Operations (FFO) | 694.42M▲ 0% | 687.8M▼ 1.0% | 391.42M▼ 43.1% | 588.99M▲ 50.5% | 572.53M▼ 2.8% | 446.67M▼ 22.0% | 448.13M▲ 0.3% | 401.29M▼ 10.5% | 454.57M▲ 13.3% | 394.56M▲ 0% |
FFO Margin % | 98.82% | 95.52% | 53.18% | 79.93% | 74.55% | 53.89% | 53.73% | 48.59% | 56.39% | 48.13% |
FFO Growth % | -31.87% | -0.95% | -43.09% | 50.47% | -2.79% | -21.98% | 0.33% | -10.45% | 13.28% | -0.82% |
FFO per Share | 6.58 | 6.47 | 3.68 | 5.52 | 5.35 | 4.25 | 4.16 | 3.70 | 4.11 | 3.52 |
FFO Payout Ratio % | 37.73% | 27.81% | 50.31% | 33.84% | 35.66% | 47.06% | 47.64% | 52.92% | 47.68% | 41.29% |
EPS (Diluted) | 1.78▲ 0% | 1.62▼ 9.0% | 0.51▼ 68.5% | 3.32▲ 551.0% | 2.98▼ 10.2% | 1.49▼ 50.0% | 1.39▼ 6.7% | 0.94▼ 32.4% | 1.45▲ 54.3% | 0.83▲ 0% |
EPS Growth % | -66.42% | -8.99% | -68.52% | 550.98% | -10.24% | -50% | -6.71% | -32.37% | 54.26% | -47.54% |
EPS (Basic) | 1.78 | 1.66 | 0.52 | 3.32 | 2.98 | 1.49 | 1.39 | 0.94 | 1.45 | - |
Diluted Shares Outstanding | 105.59M | 106.27M | 106.44M | 106.71M | 107.06M | 105.12M | 107.78M | 108.32M | 110.57M | 112.06M |
Highwoods Properties, Inc. (HIW) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 4.62B | 4.68B | 5.14B | 5.21B | 5.7B | 6.06B | 6B | 6.03B | 6.27B | 6.6B |
Asset Growth % | 1.38% | 1.11% | 9.91% | 1.39% | 9.32% | 6.47% | -1% | 0.44% | 4.05% | 15.95% |
Real Estate & Other Assets | 4.25B | 4.36B | 391.01M | 345.84M | 477.64M | 487.66M | 5.22B | 5.03B | -5.32B | 5.62B |
PP&E (Net) | 3.96B | 4.04B | 4.43B | 4.29B | 4.82B | 4.9B | 0 | 0 | 0 | 0 |
Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Total Current Assets | 348.48M | 290.63M | 293.55M | 546.66M | 393.34M | 410.79M | 440.23M | 498.95M | 373.64M | 482.4M |
Cash & Equivalents | 3.27M | 3.77M | 9.51M | 109.32M | 23.15M | 21.36M | 25.12M | 22.41M | 27.36M | 32.42M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Other Current Assets | 113.6M | -5.6M | 26.03M | 154.17M | 86.6M | 70.28M | 71.57M | 83.99M | -12.23M | 82.32M |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 244.26M | 0 |
Total Liabilities | 2.24B | 2.3B | 2.83B | 2.74B | 3.08B | 3.5B | 3.52B | 3.6B | 3.84B | 3.98B |
Total Debt | 2.01B | 2.09B | 2.54B | 2.47B | 2.79B | 3.2B | 3.21B | 3.29B | 3.64B | 3.7B |
Net Debt | 2.01B | 2.08B | 2.53B | 2.36B | 2.77B | 3.18B | 3.19B | 3.27B | 3.61B | 3.67B |
Long-Term Debt | 2.01B | 2.09B | 2.54B | 2.47B | 2.79B | 3.2B | 3.21B | 3.29B | 3.59B | 3.7B |
Short-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 6.94M | 9.23M | 8.8M | 0 |
Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.07M | 40.55M | 40.55M |
Total Current Liabilities | 228.22M | 218.92M | 252.46M | 239.4M | 294.98M | 273.18M | 193.83M | 304.55M | 8.8M | 279.36M |
Accounts Payable | 228.22M | 218.92M | 252.46M | 239.4M | 263.32M | 273.18M | 187.33M | 204.18M | 0 | 0 |
Deferred Revenue | -4.05B | -4.39B | 0 | 0 | -263.32M | 0 | 0 | 0 | 0 | 0 |
Other Liabilities | 0 | 0 | 34.3M | 28.48M | 0 | 28.01M | 108.35M | 95.58M | 200.79M | 0 |
Total Equity | 2.38B▲ 0% | 2.37B▼ 0.5% | 2.31B▼ 2.6% | 2.47B▲ 7.1% | 2.61B▲ 5.7% | 2.56B▼ 1.8% | 2.49B▼ 3.0% | 2.43B▼ 2.3% | 2.44B▲ 0.2% | 2.61B▲ 0% |
Equity Growth % | 3.57% | -0.46% | -2.64% | 7.07% | 5.69% | -1.77% | -3.02% | -2.26% | 0.18% | 5.08% |
Shareholders Equity | 2.22B | 2.25B | 2.15B | 2.34B | 2.48B | 2.48B | 2.43B | 2.36B | 2.38B | 2.37B |
Minority Interest | 161.43M | 123.54M | 155.23M | 134.54M | 134.1M | 88.21M | 54.24M | 70.08M | 56.67M | 244.84M |
Common Stock | 1.03M | 1.04M | 1.04M | 1.04M | 1.05M | 1.05M | 1.06M | 1.08M | 1.1M | 1.1M |
Additional Paid-in Capital | 2.93B | 2.98B | 2.95B | 2.99B | 3.03B | 3.08B | 3.1B | 3.14B | 3.22B | 3.24B |
Retained Earnings | -747.34M | -769.3M | 0 | 0 | -579.62M | 0 | -698.02M | -810.61M | -870.08M | -893.68M |
Preferred Stock | 28.89M | 28.88M | 28.86M | 28.83M | 28.82M | 28.82M | 28.81M | 28.81M | 26.69M | 26.63M |
Return on Assets (ROA) | 4.04% | 3.7% | 2.79% | 6.71% | 5.75% | 2.71% | 2.46% | 1.7% | 2.59% | 1.49% |
Return on Equity (ROE) | 7.92% | 7.23% | 5.85% | 14.54% | 12.33% | 6.15% | 5.89% | 4.16% | 6.56% | 3.76% |
Debt / Assets | 43.56% | 44.62% | 49.51% | 47.43% | 48.97% | 52.73% | 53.53% | 54.63% | 57.98% | 56.14% |
Debt / Equity | 0.85x | 0.88x | 1.10x | 1.00x | 1.07x | 1.25x | 1.29x | 1.35x | 1.49x | 1.42x |
Net Debt / EBITDA | 2.84x | 2.88x | 5.72x | 5.09x | 5.63x | 6.03x | 6.10x | 6.39x | 7.16x | 7.18x |
Book Value per Share | 22.55 | 22.30 | 21.68 | 23.15 | 24.39 | 24.40 | 23.08 | 22.45 | 22.03 | 23.33 |
Highwoods Properties, Inc. (HIW) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 352.53M | 358.63M | 365.8M | 358.16M | 414.56M | 421.78M | 393.56M | 403.58M | 367.31M | 377.55M |
Operating CF Growth % | 15.28% | 1.73% | 2% | -2.09% | 15.75% | 1.74% | -6.69% | 2.55% | -8.99% | 22.35% |
Operating CF / Revenue % | 50.17% | 49.81% | 49.7% | 48.6% | 53.98% | 50.88% | 47.19% | 48.87% | 45.57% | 46.06% |
Net Income | 191.66M | 177.63M | 141.68M | 357.91M | 323.31M | 163.96M | 148.72M | 104.25M | 74K | 93.48M |
Depreciation & Amortization | 226.66M | 228.01M | 254M | 239.05M | 259.25M | 287.57M | 305.56M | 299.05M | 294.95M | 301.09M |
Stock-Based Compensation | 6.69M | 7.47M | 7.18M | 6.21M | 8.65M | 7.55M | 0 | 8M | 8.21M | 9.69M |
Other Non-Cash Items | 3.36M | 3.85M | 4.41M | 4.66M | -170.06M | -20.82M | -40.8M | -11.57M | 88.37M | -55.64M |
Working Capital Changes | -30.82M | -27.33M | -7.26M | -42.45M | -6.59M | -16.47M | -19.93M | 3.86M | -24.3M | 26.4M |
Cash from Investing | -256.22M | -306.75M | -607.41M | 110.68M | -287.68M | -614.8M | -175.96M | -302.44M | -448.77M | -755.44M |
Acquisitions (Net) | -10.06M | -50.65M | -9.98M | -2.36M | -133.42M | -261.77M | -18.22M | -153.36M | 0 | 155.06M |
Purchase of Investments | -161.01M | -150.31M | -126.09M | -160.64M | -84K | -24K | -180.92M | 0 | 0 | 0 |
Sale of Investments | 132.42M | 90.13M | 133.62M | 484.62M | 301K | 288K | 191.72M | 0 | 0 | 0 |
Other Investing | -244.32M | -256.1M | -180.74M | -208.57M | -154.48M | -353.03M | 8.07M | -149.07M | -448.77M | -910.5M |
Cash from Financing | -142.53M | -130.07M | 246.21M | -294.34M | -284.93M | 187.93M | -205.75M | -99.04M | 90.83M | 391.01M |
Dividends Paid | -264.5M | -193.79M | -199.42M | -201.82M | -206.67M | -212.67M | -213.51M | -214.84M | -219.09M | -219.61M |
Common Dividends | -262.01M | -191.3M | -196.94M | -199.33M | -204.18M | -210.18M | 0 | -212.35M | -216.73M | -162.91M |
Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Share Repurchases | -4.01M | -1.68M | -1.79M | -1.16M | -1.72M | -5.92M | -173K | -1.44M | -2.13M | -2.12M |
Other Financing | -18.71M | -9.28M | -14.76M | -20.31M | -16.67M | -10.61M | -11.21M | -13.23M | -11.56M | 333.48M |
Net Change in Cash | -46.22M▲ 0% | -78.19M▼ 69.2% | 4.6M▲ 105.9% | 174.5M▲ 3694.3% | -158.05M▼ 190.6% | -5.09M▲ 96.8% | 5.46M▲ 207.3% | 2.11M▼ 61.4% | 9.37M▲ 344.6% | 13.12M▲ 0% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | -6.39M | 0 | 0 | 0 |
Cash at Beginning | 49.49M | 88.33M | 10.14M | 14.74M | 189.24M | 31.2M | 26.11M | 31.57M | 33.68M | 0 |
Cash at End | 3.27M | 10.14M | 14.74M | 189.24M | 31.2M | 26.11M | 31.57M | 33.68M | 43.05M | 0 |
Free Cash Flow | 350.69M▲ 0% | 307.98M▼ 12.2% | -58.42M▼ 119.0% | 355.8M▲ 709.0% | 414.56M▲ 16.5% | 421.51M▲ 1.7% | 216.95M▼ 48.5% | 403.58M▲ 86.0% | 166.56M▼ 58.7% | 317.62M▲ 0% |
FCF Growth % | 79.33% | -12.18% | -118.97% | 708.98% | 16.52% | 1.68% | -48.53% | 86.02% | -58.73% | -15.86% |
FCF / Revenue % | 49.9% | 42.77% | -7.94% | 48.28% | 53.98% | 50.85% | 26.01% | 48.87% | 20.66% | 38.75% |
Highwoods Properties, Inc. (HIW) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 6.58 | 6.47 | 3.68 | 5.52 | 5.35 | 4.25 | 4.16 | 3.7 | 4.11 | 3.52 |
FFO Payout Ratio | 37.73% | 27.81% | 50.31% | 33.84% | 35.66% | 47.06% | 47.64% | 52.92% | 47.68% | 41.29% |
NOI Margin | 66.29% | 66.33% | 66.23% | 68.54% | 69.21% | 68.66% | 67.77% | 67.04% | 67.58% | 67.37% |
Net Debt / EBITDA | 2.84x | 2.88x | 5.72x | 5.09x | 5.63x | 6.03x | 6.10x | 6.39x | 7.16x | 7.18x |
Debt / Assets | 43.56% | 44.62% | 49.51% | 47.43% | 48.97% | 52.73% | 53.53% | 54.63% | 57.98% | 56.14% |
Interest Coverage | 3.77x | 3.49x | 2.74x | 5.42x | 4.77x | 2.56x | 2.11x | 1.71x | 2.07x | - |
Book Value / Share | 22.55 | 22.3 | 21.68 | 23.15 | 24.39 | 24.4 | 23.08 | 22.45 | 22.03 | 23.33 |
Revenue Growth | 5.57% | 2.46% | 2.21% | 0.13% | 4.22% | 7.93% | 0.61% | -0.98% | -2.39% | 0.43% |
Highwoods Properties, Inc. (HIW) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 11, 2026·SEC
Nov 14, 2025·SEC
Nov 5, 2025·SEC
Highwoods Properties, Inc. (HIW) stock FAQ — growth, dividends, profitability & financials explained
Highwoods Properties, Inc. (HIW) reported $819.8M in revenue for fiscal year 2025. This represents a 494% increase from $137.9M in 1996.
Highwoods Properties, Inc. (HIW) saw revenue decline by 2.4% over the past year.
Yes, Highwoods Properties, Inc. (HIW) is profitable, generating $93.5M in net income for fiscal year 2025 (19.8% net margin).
Yes, Highwoods Properties, Inc. (HIW) pays a dividend with a yield of 6.69%. This makes it attractive for income-focused investors.
Highwoods Properties, Inc. (HIW) has a return on equity (ROE) of 6.6%. This is below average, suggesting room for improvement.
Highwoods Properties, Inc. (HIW) generated Funds From Operations (FFO) of $394.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Highwoods Properties, Inc. (HIW) offers a 6.69% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.