Easterly Government Properties, Inc.(DEA)Earnings, Financials & Key Ratios

DEA•NYSE•REIT / Real Estate

$23.29

$1.08B mkt cap·80.3× P/E·Price updated May 6, 2026

SectorReal Estate IndustryOffice REITs Sub-IndustrySingle-Tenant and Government Office REITs

AboutEasterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly's experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased to such agencies either directly or through the U.S. General Services Administration (GSA).Show more

Revenue$336M+11.3%
FFO$127M+9.5%
FFO/Share2.82+0.9%
FFO Payout74.54%-25.5%
FFO per Share2.82+0.9%
NOI Margin-0.92%-101.4%
FFO Margin37.76%-1.6%
ROE0.94%-32.5%
ROA0.39%-38.5%
Debt/Assets49.78%+0.4%
Net Debt/EBITDA8.39-7.0%
Book Value/Share30.40-9.1%

Technical→

DEA Key Insights

Easterly Government Properties, Inc. (DEA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓FFO growing 12.0% TTM
✓Sustainable FFO payout ratio of 74.5%
✓Trading at only 0.8x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.2%
✗Low NOI margin of -0.9%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

DEA Price & Volume

Easterly Government Properties, Inc. (DEA) stock price & volume — 10-year historical chart

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DEA Growth Metrics

Easterly Government Properties, Inc. (DEA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.76%

5 Years6.52%

3 Years4.61%

TTM11.87%

Profit CAGR

10 Years-

5 Years1.68%

3 Years-25.52%

TTM-18.54%

EPS CAGR

10 Years-

5 Years-4.76%

3 Years-30.12%

TTM-41.67%

Return on Capital

10 Years3.39%

5 Years2.95%

3 Years3%

Last Year3.55%

DEA Recent Earnings

Easterly Government Properties, Inc. (DEA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 4/12 qtrs (33%)●Beat Revenue 2/12 qtrs (17%)

Q2 2026Latest

Apr 27, 2026

EPS

$0.02

Est $0.09

-73.0%

Revenue

$89M

Est $86M

+3.2%

Q1 2026

Feb 23, 2026

EPS

$0.77

Est $0.10

+633.3%

Revenue

$84M

Est $86M

-2.4%

Q4 2025

Oct 27, 2025

EPS

$0.76

Est $0.76

+0.0%

Revenue

$86M

Est $88M

-2.1%

Q3 2025

Aug 5, 2025

EPS

$0.74

Est $0.74

+0.0%

Revenue

$84M

Est $85M

-0.4%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 27, 2026	$0.02vs $0.09-73.0%	$89Mvs $86M+3.2%
Q1 2026	Feb 23, 2026	$0.77vs $0.10+633.3%	$84Mvs $86M-2.4%
Q4 2025	Oct 27, 2025	$0.76vs $0.76+0.0%	$86Mvs $88M-2.1%
Q3 2025	Aug 5, 2025	$0.74vs $0.74+0.0%	$84Mvs $85M-0.4%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
CTRECareTrust REIT, Inc.Direct Competitor	8.79B	39.48	25.15	108.71%	80.64%	6.51%
GMREGlobal Medical REIT Inc.Direct Competitor	94.26M	35.74	115.29	-1.79%	1.69%	0.49%	1.18
GOODGladstone Commercial CorporationDirect Competitor	599.28M	12.38	30.20	8%	12.75%	9.74%	2.50
GTYGetty Realty Corp.Direct Competitor	2B	33.08	24.50	9.02%	40.06%	8.76%	0.98
VNOVornado Realty TrustProduct Competitor	5.94B	31.56	7.51	1.27%	43.99%	11.77%	1.16
BXPBXP, Inc.Product Competitor	9.5B	59.84	34.39	2.19%	7.95%	3.58%	2.26
HIWHighwoods Properties, Inc.Product Competitor	2.85B	25.82	17.81	-2.39%	11.4%	3.76%	1.49
PDMPiedmont Office Realty Trust, Inc.Product Competitor	1.06B	8.45	-12.61	-0.93%	-20.46%	-5.7%	1.52

Compare DEA vs Peers

Easterly Government Properties, Inc. (DEA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CTRE

Most directly comparable listed peer for DEA.

Scale Benchmark

vs AMT

Larger-name benchmark to compare DEA against a more recognizable public peer.

Peer Set

Compare Top 5

vs CTRE, GMRE, GOOD, GTY

DEA Income Statement

Easterly Government Properties, Inc. (DEA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Revenue	130.67M	160.59M	221.72M	245.08M	274.86M	293.61M	287.23M	302.05M	336.1M	344.46M
Revenue Growth %	24.9%	22.9%	38.07%	10.53%	12.15%	6.82%	-2.17%	5.16%	11.27%	11.87%
Property Operating Expenses	38.64M	48.22M	73.66M	77.64M	87.12M	97.68M	102.42M	101.08M	339.2M	173.32M
Net Operating Income (NOI)	92.04M▲ 0%	112.37M▲ 22.1%	148.06M▲ 31.8%	167.44M▲ 13.1%	187.74M▲ 12.1%	195.93M▲ 4.4%	184.8M▼ 5.7%	200.98M▲ 8.8%	-3.11M▼ 101.5%	171.14M▲ 0%
NOI Margin %	70.43%	69.97%	66.78%	68.32%	68.3%	66.73%	64.34%	66.54%	-0.92%	49.68%
Operating Expenses	69.27M	112.37M	20.18M	20.63M	114.79M	123.04M	118.41M	122.31M	-86.88M	85.22M
G&A Expenses	12.9M	14.82M	20.18M	20.63M	23.52M	24.79M	27.12M	24.45M	26.04M	27.04M
EBITDA	77.64M	97.54M	214M	234.72M	164.22M	171.14M	157.68M	175M	197.67M	202.66M
EBITDA Margin %	59.42%	60.74%	96.52%	95.77%	59.75%	58.29%	54.9%	57.94%	58.81%	58.83%
Depreciation & Amortization	54.87M	66.4M	86.12M	87.91M	91.27M	98.25M	91.29M	96.33M	113.9M	116.72M
D&A / Revenue %	41.99%	41.35%	38.84%	35.87%	33.2%	33.46%	31.78%	31.89%	33.89%	33.88%
Operating Income	22.77M▲ 0%	31.14M▲ 36.8%	127.88M▲ 310.6%	146.81M▲ 14.8%	72.95M▼ 50.3%	72.89M▼ 0.1%	66.39M▼ 8.9%	78.67M▲ 18.5%	83.78M▲ 6.5%	85.94M▲ 0%
Operating Margin %	17.43%	19.39%	57.67%	59.9%	26.54%	24.82%	23.11%	26.04%	24.93%	24.95%
Interest Expense	17.07M	22.9M	33.46M	35.48M	38.63M	47.38M	49.17M	62.43M	74.45M	4M
Interest Coverage	1.32x	1.29x	1.06x	1.49x	1.88x	1.75x	1.43x	1.33x	1.18x	-
Non-Operating Income	310K	1.58M	92.44M	93.8M	361K	-10.05M	-3.84M	-4.34M	-4.24M	-1.76M
Pretax Income	5.39M▲ 0%	6.66M▲ 23.6%	8.22M▲ 23.5%	13.53M▲ 64.5%	33.96M▲ 151.0%	35.56M▲ 4.7%	21.06M▼ 40.8%	20.58M▼ 2.3%	13.56M▼ 34.1%	15.1M▲ 0%
Pretax Margin %	4.12%	4.15%	3.71%	5.52%	12.35%	12.11%	7.33%	6.81%	4.03%	4.38%
Income Tax	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Net Income	4.45M▲ 0%	5.7M▲ 28.2%	7.21M▲ 26.3%	11.96M▲ 66.0%	30.06M▲ 151.3%	31.47M▲ 4.7%	18.8M▼ 40.3%	19.55M▲ 4.0%	13M▼ 33.5%	14.71M▲ 0%
Net Margin %	3.4%	3.55%	3.25%	4.88%	10.94%	10.72%	6.55%	6.47%	3.87%	4.27%
Net Income Growth %	12.24%	28.24%	26.35%	65.96%	151.3%	4.71%	-40.26%	3.98%	-33.5%	-18.54%
Funds From Operations (FFO)	59.32M▲ 0%	72.11M▲ 21.6%	93.33M▲ 29.4%	99.87M▲ 7.0%	121.32M▲ 21.5%	129.73M▲ 6.9%	110.1M▼ 15.1%	115.89M▲ 5.3%	126.9M▲ 9.5%	131.43M▲ 0%
FFO Margin %	45.4%	44.9%	42.09%	40.75%	44.14%	44.18%	38.33%	38.37%	37.76%	38.15%
FFO Growth %	19.01%	21.55%	29.43%	7.01%	21.48%	6.93%	-15.13%	5.26%	9.5%	47.62%
FFO per Share	3.57	3.28	3.37	3.17	3.58	3.57	2.91	2.79	2.82	2.83
FFO Payout Ratio %	82.9%	91.47%	87.75%	91.87%	82.42%	84.16%	102.07%	100.02%	74.54%	48.96%
EPS (Diluted)	0.25▲ 0%	0.25▲ 0.0%	0.10▼ 60.0%	0.37▲ 270.0%	0.87▲ 135.1%	0.85▼ 2.3%	0.48▼ 43.5%	0.46▼ 4.2%	0.29▼ 37.0%	0.32▲ 0%
EPS Growth %	-16.67%	0%	-60%	270%	135.14%	-2.3%	-43.53%	-4.17%	-36.96%	-41.67%
EPS (Basic)	0.28	0.28	0.10	0.37	0.88	0.85	0.48	0.46	0.29	-
Diluted Shares Outstanding	16.63M	21.97M	27.68M	31.52M	33.85M	36.38M	37.82M	41.5M	45.06M	46.45M

DEA Balance Sheet

Easterly Government Properties, Inc. (DEA) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Assets	1.43B	1.86B	2.23B	2.46B	2.83B	2.83B	2.88B	3.22B	3.38B	3.42B
Asset Growth %	36.34%	30.6%	20.04%	9.98%	15%	0.12%	1.78%	11.92%	4.86%	32.02%
Real Estate & Other Assets	1.24B	1.63B	2.01B	2.23B	2.43B	2.32B	2.36B	2.61B	-3.05B	0
PP&E (Net)	1.23B	1.63B	0	0	0	0	0	0	0	0
Investment Securities	-1000K	-1000K	0	0	1000K	1000K	1000K	1000K	1000K	0
Total Current Assets	47.14M	62.24M	60.96M	59.75M	78.88M	76.11M	88.21M	133.06M	74.87M	75.06M
Cash & Equivalents	12.68M	6.85M	12.01M	8.46M	11.13M	7.58M	9.38M	19.35M	23.37M	2.02M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	3.52M	4.25M	3.54M	-19.54M	-20.89M	9.7M	12.56M	8.45M	0	0
Intangible Assets	143.06M	165.67M	168.63M	163.39M	186.31M	157.28M	148.45M	161.43M	183.91M	189.53M
Total Liabilities	634.25M	836.3M	1.03B	1.16B	1.38B	1.42B	1.47B	1.84B	2.01B	2.06B
Total Debt	575.89M	766.36M	901.84M	978.26M	1.21B	1.25B	1.29B	1.6B	1.68B	1.17B
Net Debt	563.21M	759.5M	889.83M	969.79M	1.2B	1.24B	1.29B	1.58B	1.66B	1.17B
Long-Term Debt	572.79M	766.36M	901.84M	899.01M	1.2B	1.19B	1.22B	1.32B	1.66B	0
Short-Term Borrowings	0	0	0	79.25M	14.5M	65.5M	79M	274.55M	10.71M	1.17B
Capital Lease Obligations	0	0	0	0	0	0	0	0	15.46M	1.96M
Total Current Liabilities	119.54M	172.06M	102.49M	220.38M	162.52M	216.15M	241.92M	496.8M	1.39B	1.4B
Accounts Payable	19.79M	34.24M	47.83M	48.55M	60.89M	67.34M	80.21M	101.27M	109.69M	0
Deferred Revenue	79.96M	97.44M	54.66M	92.58M	87.13M	83.31M	82.71M	120.98M	219.2M	230.03M
Other Liabilities	-315.49M	-316.49M	-24.24M	-54.39M	-61.72M	-66.92M	12.48M	14.88M	108.56M	665.34M
Total Equity	791.09M▲ 0%	1.03B▲ 29.6%	1.2B▲ 17.0%	1.3B▲ 8.3%	1.44B▲ 10.9%	1.41B▼ 2.1%	1.41B▼ 0.1%	1.39B▼ 1.6%	1.37B▼ 1.3%	1.36B▲ 0%
Equity Growth %	13.52%	29.6%	17.03%	8.35%	10.89%	-2.12%	-0.1%	-1.59%	-1.27%	-3.09%
Shareholders Equity	667.81M	894.16M	1.06B	1.15B	1.28B	1.24B	1.32B	1.32B	1.32B	1.31B
Minority Interest	123.28M	131.09M	137.22M	145.4M	158.91M	166.1M	87.31M	66M	46.43M	46.66M
Common Stock	448K	608K	748K	821K	901K	908K	1.01M	1.08M	463K	464K
Additional Paid-in Capital	740.55M	1.02B	1.26B	1.42B	1.6B	1.62B	1.78B	1.87B	1.96B	0
Retained Earnings	7.13M	12.83M	20M	31.96M	62.02M	93.5M	112.3M	131.85M	-631.16M	146.22M
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.36%	0.35%	0.35%	0.51%	1.14%	1.11%	0.66%	0.64%	0.39%	0.43%
Return on Equity (ROE)	0.6%	0.63%	0.65%	0.96%	2.19%	2.21%	1.33%	1.4%	0.94%	1.07%
Debt / Assets	40.4%	41.17%	40.36%	39.81%	42.85%	44.23%	44.96%	49.61%	49.78%	34.19%
Debt / Equity	0.73x	0.75x	0.75x	0.75x	0.84x	0.89x	0.92x	1.15x	1.23x	1.23x
Net Debt / EBITDA	7.25x	7.79x	4.16x	4.13x	7.31x	7.27x	8.15x	9.03x	8.39x	8.39x
Book Value per Share	47.58	46.66	43.34	41.25	42.59	38.79	37.27	33.42	30.40	29.18

DEA Cash Flow Statement

Easterly Government Properties, Inc. (DEA) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	49.23M	62.78M	142.31M	145.2M	118.34M	125.94M	114.48M	162.63M	259.19M	259.19M
Operating CF Growth %	3.91%	27.53%	126.68%	2.03%	-18.49%	6.42%	-9.1%	42.07%	59.37%	221.68%
Operating CF / Revenue %	37.67%	39.09%	64.19%	59.25%	43.06%	42.89%	39.86%	53.84%	77.12%	75.25%
Net Income	5.39M	6.66M	8.22M	13.53M	33.96M	35.56M	21.06M	20.58M	13.56M	14.71M
Depreciation & Amortization	46.36M	57.81M	86.12M	87.91M	86.68M	95.15M	91.29M	95.66M	113.88M	117.9M
Stock-Based Compensation	2.96M	3.04M	4.91M	4.09M	5.05M	6.54M	5.75M	3.21M	6.04M	6.72M
Other Non-Cash Items	-1.79M	-4.63M	-8.67M	-4.55M	-8.35M	-10.01M	-6.18M	-288K	10.27M	2.17M
Working Capital Changes	-4M	-92K	51.73M	40.22M	2.32M	-1.3M	2.56M	43.48M	115.45M	123.87M
Cash from Investing	-397.75M	-466.74M	-442.34M	-290.18M	-363.04M	-69.1M	-127.01M	-409.64M	-285.29M	-313.48M
Acquisitions (Net)	0	0	0	0	-131.57M	-143.85M	-17.74M	0	0	0
Purchase of Investments	-406.41M	-466.74M	0	-293.69M	-370.38M	0	0	-413.86M	-304.95M	-28.41M
Sale of Investments	8.67M	0	0	3.52M	7.34M	0	0	2.17M	19.67M	681K
Other Investing	-397.75M	-466.74M	-442.34M	0	-231.47M	74.74M	-109.27M	2.04M	0	-285.75M
Cash from Financing	356.35M	398.87M	304.47M	144.1M	250.17M	-59.71M	17.19M	252.88M	31.92M	46.33M
Dividends Paid	-49.18M	-55.38M	-81.89M	-80.89M	-88.24M	-109.18M	-100.34M	-115.91M	-94.59M	-86.16M
Common Dividends	-49.18M	-65.96M	-81.89M	-91.75M	-99.99M	-109.18M	-112.38M	-115.91M	0	-64.35M
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	-7.9M	-25.37M	-9.05M	-12.72M	-17.06M	-136K	-12.04M	-8.78M	-1.95M	39.56M
Net Change in Cash	7.84M▲ 0%	-5.1M▼ 165.0%	4.44M▲ 187.2%	-880K▼ 119.8%	5.47M▲ 722.0%	-2.87M▼ 152.4%	4.67M▲ 262.6%	5.87M▲ 25.7%	5.83M▼ 0.6%	16.14M▲ 0%
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	4.84M	16.2M	11.11M	15.55M	14.67M	20.14M	17.27M	21.94M	27.8M	0
Cash at End	12.68M	11.11M	15.55M	14.67M	20.14M	17.27M	21.94M	27.8M	33.63M	0
Free Cash Flow	49.23M▲ 0%	62.78M▲ 27.5%	142.31M▲ 126.7%	145.2M▲ 2.0%	481.39M▲ 231.5%	125.94M▼ 73.8%	114.48M▼ 9.1%	162.63M▲ 42.1%	259.19M▲ 59.4%	262.34M▲ 0%
FCF Growth %	3.91%	27.53%	126.68%	2.03%	231.54%	-73.84%	-9.1%	42.07%	59.37%	61.01%
FCF / Revenue %	37.67%	39.09%	64.19%	59.25%	175.14%	42.89%	39.86%	53.84%	77.12%	76.16%

DEA Key Ratios

Easterly Government Properties, Inc. (DEA) 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	3.57	3.28	3.37	3.17	3.58	3.57	2.91	2.79	2.82	2.83
FFO Payout Ratio	82.9%	91.47%	87.75%	91.87%	82.42%	84.16%	102.07%	100.02%	74.54%	48.96%
NOI Margin	70.43%	69.97%	66.78%	68.32%	68.3%	66.73%	64.34%	66.54%	-0.92%	49.68%
Net Debt / EBITDA	7.25x	7.79x	4.16x	4.13x	7.31x	7.27x	8.15x	9.03x	8.39x	8.39x
Debt / Assets	40.4%	41.17%	40.36%	39.81%	42.85%	44.23%	44.96%	49.61%	49.78%	34.19%
Interest Coverage	1.32x	1.29x	1.06x	1.49x	1.88x	1.75x	1.43x	1.33x	1.18x	-
Book Value / Share	47.58	46.66	43.34	41.25	42.59	38.79	37.27	33.42	30.4	29.18
Revenue Growth	24.9%	22.9%	38.07%	10.53%	12.15%	6.82%	-2.17%	5.16%	11.27%	11.87%

DEA SEC Filings & Documents

Easterly Government Properties, Inc. (DEA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 27, 2026·SEC

Material company update

Apr 24, 2026·SEC

Material company update

Feb 23, 2026·SEC

10-K Annual Reports

FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

FY 2026

Apr 27, 2026·SEC

FY 2025

Oct 27, 2025·SEC

FY 2025

Aug 5, 2025·SEC

DEA Frequently Asked Questions

Easterly Government Properties, Inc. (DEA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Easterly Government Properties, Inc. (DEA) reported $344.5M in revenue for fiscal year 2025. This represents a 17236% increase from $2.0M in 2012.

Easterly Government Properties, Inc. (DEA) grew revenue by 11.3% over the past year. This is steady growth.

Yes, Easterly Government Properties, Inc. (DEA) is profitable, generating $14.7M in net income for fiscal year 2025 (3.9% net margin).

Dividend & Returns

Yes, Easterly Government Properties, Inc. (DEA) pays a dividend with a yield of 9.01%. This makes it attractive for income-focused investors.

Easterly Government Properties, Inc. (DEA) has a return on equity (ROE) of 0.9%. This is below average, suggesting room for improvement.

Industry Metrics

Easterly Government Properties, Inc. (DEA) generated Funds From Operations (FFO) of $131.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Easterly Government Properties, Inc. (DEA) offers a 9.01% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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