8-K Announcements
6Apr 29, 2026·SEC
Apr 15, 2026·SEC
Mar 16, 2026·SEC
Empire State Realty Trust, Inc. (ESRT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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Empire State Realty Trust, Inc. (ESRT) stock price & volume — 10-year historical chart
Empire State Realty Trust, Inc. (ESRT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Empire State Realty Trust, Inc. (ESRT) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 29, 2026 | $0.20 | $190Mvs $183M+3.8% |
| Q1 2026 | Feb 17, 2026 | $0.23 | $199Mvs $192M+3.5% |
| Q4 2025 | Oct 29, 2025 | $0.23 | $198Mvs $197M+0.6% |
| Q3 2025 | Jul 23, 2025 | $0.22 | $191Mvs $199M-3.8% |
Empire State Realty Trust, Inc. (ESRT) competitors in Diversified Multi-Property Equity REITs — business model, growth, and fundamentals comparison
Empire State Realty Trust, Inc. (ESRT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Empire State Realty Trust, Inc. (ESRT) 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 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 712.47M | 731.51M | 731.34M | 609.23M | 607.86M | 707.01M | 739.57M | 763.15M | 768.27M |
Revenue Growth % | 5.08% | 2.67% | -0.02% | -16.7% | -0.22% | 16.31% | 4.61% | 3.19% | 0.67% |
Property Operating Expenses | 305.6M | 319.47M | 333.99M | 291.11M | 279.49M | 321.35M | 339.02M | 354.16M | 754.54M |
Net Operating Income (NOI) | 406.87M▲ 0% | 412.04M▲ 1.3% | 397.36M▼ 3.6% | 318.12M▼ 19.9% | 328.38M▲ 3.2% | 385.65M▲ 17.4% | 400.56M▲ 3.9% | 408.99M▲ 2.1% | 13.73M▼ 96.6% |
NOI Margin % | 57.11% | 56.33% | 54.33% | 52.22% | 54.02% | 54.55% | 54.16% | 53.59% | 1.79% |
Operating Expenses | 211.03M | 221.18M | 242.65M | 259.45M | 249.25M | 258.63M | 253.85M | 250.28M | -121.92M |
G&A Expenses | 50.31M | 52.67M | 61.06M | 62.24M | 55.95M | 61.77M | 63.94M | 70.23M | 72.84M |
EBITDA | 356.56M | 359.37M | 347.19M | 249.67M | 280.94M | 343.92M | 336.62M | 343.53M | 330.41M |
EBITDA Margin % | 50.05% | 49.13% | 47.47% | 40.98% | 46.22% | 48.64% | 45.52% | 45.01% | 43.01% |
Depreciation & Amortization | 160.71M | 168.51M | 192.49M | 191.01M | 201.81M | 216.89M | 189.91M | 184.82M | 194.76M |
D&A / Revenue % | 22.56% | 23.04% | 26.32% | 31.35% | 33.2% | 30.68% | 25.68% | 24.22% | 25.35% |
Operating Income | 195.84M▲ 0% | 190.86M▼ 2.5% | 154.71M▼ 18.9% | 58.66M▼ 62.1% | 79.13M▲ 34.9% | 127.03M▲ 60.5% | 146.71M▲ 15.5% | 158.71M▲ 8.2% | 135.65M▼ 14.5% |
Operating Margin % | 27.49% | 26.09% | 21.15% | 9.63% | 13.02% | 17.97% | 19.84% | 20.8% | 17.66% |
Interest Expense | 68.47M | 79.62M | 79.25M | 89.91M | 94.39M | 101.21M | 101.48M | 109.71M | 103.78M |
Interest Coverage | 2.82x | 2.53x | 2.09x | 0.67x | 0.84x | 1.64x | 1.86x | 1.45x | 1.73x |
Non-Operating Income | 2.94M | 12.1M | 0 | -1.39M | -490K | -38.94M | -41.9M | 0 | -43.67M |
Pretax Income | 124.93M▲ 0% | 121.89M▼ 2.4% | 86.72M▼ 28.9% | -29.86M▼ 134.4% | -14.77M▲ 50.5% | 64.76M▲ 538.4% | 87.12M▲ 34.5% | 83.05M▼ 4.7% | 75.54M▼ 9.0% |
Pretax Margin % | 17.53% | 16.66% | 11.86% | -4.9% | -2.43% | 9.16% | 11.78% | 10.88% | 9.83% |
Income Tax | 6.67M | 4.64M | 2.43M | -6.97M | -1.73M | 1.55M | 2.71M | 2.69M | 2.56M |
Effective Tax Rate % | 5.34% | 3.81% | 2.8% | 23.35% | 11.74% | 2.39% | 3.12% | 3.24% | 3.39% |
Net Income | 63.58M▲ 0% | 66.54M▲ 4.6% | 51.19M▼ 23.1% | -12.52M▼ 124.4% | -6.51M▲ 48.0% | 40.64M▲ 724.3% | 53.24M▲ 31.0% | 51.64M▼ 3.0% | 47.6M▼ 7.8% |
Net Margin % | 8.92% | 9.1% | 7% | -2.05% | -1.07% | 5.75% | 7.2% | 6.77% | 6.2% |
Net Income Growth % | 21.36% | 4.65% | -23.07% | -124.45% | 47.98% | 724.32% | 31.01% | -3.01% | -7.83% |
Funds From Operations (FFO) | 224.29M▲ 0% | 235.05M▲ 4.8% | 243.68M▲ 3.7% | 178.49M▼ 26.8% | 195.3M▲ 9.4% | 257.54M▲ 31.9% | 243.16M▼ 5.6% | 236.46M▼ 2.8% | 242.36M▲ 2.5% |
FFO Margin % | 31.48% | 32.13% | 33.32% | 29.3% | 32.13% | 36.43% | 32.88% | 30.98% | 31.55% |
FFO Growth % | 8.04% | 4.79% | 3.67% | -26.75% | 9.41% | 31.87% | -5.58% | -2.75% | 2.5% |
FFO per Share | 0.75 | 0.79 | 0.82 | 0.63 | 0.71 | 0.95 | 0.92 | 0.88 | 0.90 |
FFO Payout Ratio % | 29.78% | 30.14% | 30.86% | 20.83% | 9.27% | 8.97% | 9.33% | 9.82% | 9.79% |
EPS (Diluted) | 0.21▲ 0% | 0.39▲ 85.7% | 0.28▼ 28.2% | -0.10▼ 135.7% | -0.05▲ 52.6% | 0.22▲ 564.1% | 0.30▲ 36.4% | 0.28▼ 6.7% | 0.18▼ 35.7% |
EPS Growth % | -44.74% | 85.71% | -28.21% | -135.71% | 52.6% | 564.13% | 36.36% | -6.67% | -35.71% |
EPS (Basic) | 0.40 | 0.39 | 0.28 | -0.13 | -0.08 | 0.22 | 0.30 | 0.29 | 0.26 |
Diluted Shares Outstanding | 298.05M | 297.26M | 297.8M | 283.84M | 274.98M | 269.95M | 265.63M | 269.02M | 270.04M |
Empire State Realty Trust, Inc. (ESRT) 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 |
|---|---|---|---|---|---|---|---|---|---|
Total Assets | 3.93B | 4.2B | 3.93B | 4.15B | 4.28B | 4.16B | 4.22B | 4.51B | 4.47B |
Asset Growth % | 1.04% | 6.73% | -6.29% | 5.57% | 3.17% | -2.78% | 1.34% | 6.9% | -0.92% |
Real Estate & Other Assets | 2.27B | 249.21M | 2.48B | 2.4B | 2.71B | 2.7B | 2.66B | 2.8B | 616.31M |
PP&E (Net) | 2B | 2.13B | 29.31M | 29.1M | 28.89M | 28.67M | 28.44M | 28.2M | 27.94M |
Investment Securities | -1000K | 0 | -1000K | 0 | 0 | 0 | 0 | 0 | 1000K |
Total Current Assets | 798.18M | 965.5M | 583.43M | 889.17M | 718.21M | 614.51M | 702.42M | 878.9M | 188.57M |
Cash & Equivalents | 464.34M | 204.98M | 233.95M | 526.71M | 423.69M | 264.43M | 346.62M | 385.46M | 166.51M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Other Current Assets | 126.88M | 132.71M | 103.1M | 41.23M | -25.61M | 85.78M | 60.34M | 43.84M | -255.27M |
Intangible Assets | 368.23M | 360.4M | 352.57M | 344.74M | 336.9M | 329.07M | 321.24M | 313.41M | 305.58M |
Total Liabilities | 1.95B | 2.2B | 1.98B | 2.42B | 2.6B | 2.48B | 2.49B | 2.73B | 2.65B |
Total Debt | 1.69B | 1.92B | 1.7B | 2.17B | 2.34B | 2.27B | 2.27B | 2.48B | 2.44B |
Net Debt | 1.22B | 1.71B | 1.46B | 1.64B | 1.92B | 2.01B | 1.92B | 2.1B | 2.27B |
Long-Term Debt | 1.43B | 1.92B | 1.4B | 1.75B | 1.92B | 1.86B | 2.15B | 1.89B | 2.32B |
Short-Term Borrowings | 263.66M | 253.79M | 264.64M | 387.56M | 388.22M | 388.77M | 86.54M | 566.4M | 55.46M |
Capital Lease Obligations | 0 | 0 | 29.31M | 29.1M | 28.89M | 28.67M | 28.44M | 28.2M | 66.21M |
Total Current Liabilities | 151.76M | 175.49M | 72.02M | 570.23M | 568.08M | 551.54M | 559.25M | 766.49M | 59.9M |
Accounts Payable | 32.51M | 34.59M | 35.08M | 32.31M | 41.66M | 32.93M | 44.17M | 54.78M | 64.49M |
Deferred Revenue | 40.91M | 44.81M | 72.02M | 88.32M | 84.36M | 76.09M | 70.3M | 62.64M | 59.9M |
Other Liabilities | 154.04M | 105.01M | 11.55M | -17.36M | 79M | 42.93M | 235.54M | 44.41M | 205.93M |
Total Equity | 1.98B▲ 0% | 1.99B▲ 0.7% | 1.95B▼ 2.2% | 1.73B▼ 11.1% | 1.68B▼ 2.7% | 1.68B▼ 0.1% | 1.73B▲ 2.8% | 1.78B▲ 2.9% | 1.82B▲ 2.3% |
Equity Growth % | -0.26% | 0.68% | -2.17% | -11.12% | -2.71% | -0.07% | 2.85% | 2.94% | 2.26% |
Shareholders Equity | 1.17B | 1.24B | 1.23B | 1.06B | 998.13M | 954.38M | 985.52M | 1.03B | 1.06B |
Minority Interest | 809.46M | 752.63M | 719.39M | 676.06M | 686.2M | 728.72M | 745.53M | 751.27M | 762.19M |
Common Stock | 1.61M | 1.75M | 1.82M | 1.72M | 1.7M | 1.61M | 1.63M | 1.67M | 1.71M |
Additional Paid-in Capital | 1.13B | 1.2B | 1.23B | 1.15B | 1.15B | 1.06B | 1.06B | 1.08B | 1.09B |
Retained Earnings | 46.76M | 41.51M | 15.76M | -65.67M | -133.61M | -109.47M | -83.11M | -58.89M | -39.65M |
Preferred Stock | 8M | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Return on Assets (ROA) | 1.63% | 1.64% | 1.26% | -0.31% | -0.15% | 0.96% | 1.27% | 1.18% | 1.06% |
Return on Equity (ROE) | 3.21% | 3.35% | 2.6% | -0.68% | -0.38% | 2.41% | 3.12% | 2.94% | 2.64% |
Debt / Assets | 42.96% | 45.73% | 43.18% | 52.18% | 54.62% | 54.64% | 53.78% | 55.07% | 54.59% |
Debt / Equity | 0.85x | 0.96x | 0.87x | 1.25x | 1.39x | 1.35x | 1.31x | 1.39x | 1.34x |
Net Debt / EBITDA | 3.43x | 4.77x | 4.22x | 6.56x | 6.82x | 5.85x | 5.71x | 6.11x | 6.88x |
Book Value per Share | 6.64 | 6.70 | 6.54 | 6.10 | 6.13 | 6.23 | 6.52 | 6.62 | 6.75 |
Empire State Realty Trust, Inc. (ESRT) 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 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 194.2M | 279.02M | 232.59M | 182.29M | 212.49M | 211.17M | 232.49M | 260.89M | 249.05M |
Operating CF Growth % | -9.57% | 43.68% | -16.64% | -21.63% | 16.56% | -0.62% | 10.1% | 12.22% | -4.54% |
Operating CF / Revenue % | 27.26% | 38.14% | 31.8% | 29.92% | 34.96% | 29.87% | 31.44% | 34.19% | 32.42% |
Net Income | 63.58M | 66.54M | 84.29M | -22.89M | -13.04M | 63.21M | 53.24M | 80.36M | 47.6M |
Depreciation & Amortization | 162.82M | 180.61M | 181.59M | 191.01M | 209.64M | 216.89M | 189.91M | 184.82M | 194.76M |
Stock-Based Compensation | 14.1M | 18.79M | 20.86M | 25.5M | 20.26M | 21.01M | 20.03M | 21.7M | 25.17M |
Other Non-Cash Items | 169K | -1.47M | -12.21M | 8.45M | -16.11M | -45.68M | -660K | -9.75M | -14.2M |
Working Capital Changes | -32.93M | 14.56M | -30.13M | -5.78M | 3.8M | -44.27M | -30.03M | -16.23M | -4.28M |
Cash from Investing | -224.6M | -643.02M | 149.74M | -143.12M | -212.74M | -230.89M | -77.34M | -397.12M | -550.01M |
Acquisitions (Net) | 0 | 0 | -149.74M | 0 | 0 | 230.89M | 0 | 0 | 0 |
Purchase of Investments | -1.63M | 0 | -2K | 0 | 0 | -115.63M | 0 | 0 | 0 |
Sale of Investments | 0 | 0 | 400M | 0 | 0 | 11.01M | 0 | 0 | 0 |
Other Investing | 0 | -643.02M | 149.74M | -143.12M | -212.74M | -230.89M | -77.34M | -397.12M | -550.01M |
Cash from Financing | -56.88M | 104.62M | -381.55M | 257.17M | -93.05M | -140.24M | -62.87M | 158.58M | 38.17M |
Dividends Paid | -67.72M | -71.79M | -76.94M | -41.38M | -22.31M | -27.31M | -26.89M | -27.42M | -27.93M |
Common Dividends | -66.79M | -70.85M | -75.19M | -37.18M | -18.11M | -23.11M | -22.68M | -23.22M | -23.73M |
Debt Issuance (Net) | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | 1000K |
Share Repurchases | 0 | 0 | 0 | -143.71M | -46.7M | -90.18M | -13.11M | 0 | -8.12M |
Other Financing | -72.54M | -56.73M | -50.83M | -33.8M | -19.94M | -15.25M | -14.25M | -27.14M | -16.17M |
Net Change in Cash | -90.03M▲ 0% | -259.38M▼ 188.1% | 784K▲ 100.3% | 296.34M▲ 37698.7% | -93.3M▼ 131.5% | -159.96M▼ 71.4% | 92.28M▲ 157.7% | 22.35M▼ 75.8% | -262.79M▼ 1276.0% |
Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash at Beginning | 554.37M | 530.2M | 270.81M | 271.6M | 567.94M | 474.64M | 314.68M | 406.96M | 429.3M |
Cash at End | 464.34M | 270.81M | 271.6M | 567.94M | 474.64M | 314.68M | 406.96M | 429.3M | 166.51M |
Free Cash Flow | -31.56M▲ 0% | 36M▲ 214.1% | -17.66M▼ 149.1% | 39.17M▲ 321.8% | 117.45M▲ 199.8% | 84.91M▼ 27.7% | 232.49M▲ 173.8% | 260.89M▲ 12.2% | 50.55M▼ 80.6% |
FCF Growth % | -187.16% | 214.07% | -149.07% | 321.79% | 199.81% | -27.71% | 173.82% | 12.22% | -80.62% |
FCF / Revenue % | -4.43% | 4.92% | -2.42% | 6.43% | 19.32% | 12.01% | 31.44% | 34.19% | 6.58% |
Empire State Realty Trust, Inc. (ESRT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
FFO per Share | 0.75 | 0.75 | 0.79 | 0.82 | 0.63 | 0.71 | 0.95 | 0.92 | 0.88 | 0.9 |
FFO Payout Ratio | 26.88% | 29.78% | 30.14% | 30.86% | 20.83% | 9.27% | 8.97% | 9.33% | 9.82% | 9.79% |
NOI Margin | 57.36% | 57.11% | 56.33% | 54.33% | 52.22% | 54.02% | 54.55% | 54.16% | 53.59% | 1.79% |
Net Debt / EBITDA | 3.11x | 3.43x | 4.77x | 4.22x | 6.56x | 6.82x | 5.85x | 5.71x | 6.11x | 6.88x |
Debt / Assets | 41.44% | 42.96% | 45.73% | 43.18% | 52.18% | 54.62% | 54.64% | 53.78% | 55.07% | 54.59% |
Interest Coverage | 2.58x | 2.82x | 2.53x | 2.09x | 0.67x | 0.84x | 1.64x | 1.86x | 1.45x | 1.73x |
Book Value / Share | 7.14 | 6.64 | 6.7 | 6.54 | 6.1 | 6.13 | 6.23 | 6.52 | 6.62 | 6.75 |
Revenue Growth | 3.1% | 5.08% | 2.67% | -0.02% | -16.7% | -0.22% | 16.31% | 4.61% | 3.19% | 0.67% |
Empire State Realty Trust, Inc. (ESRT) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Apr 15, 2026·SEC
Mar 16, 2026·SEC
Empire State Realty Trust, Inc. (ESRT) stock FAQ — growth, dividends, profitability & financials explained
Empire State Realty Trust, Inc. (ESRT) reported $767.8M in revenue for fiscal year 2025. This represents a 231% increase from $232.3M in 2009.
Empire State Realty Trust, Inc. (ESRT) grew revenue by 0.7% over the past year. Growth has been modest.
Yes, Empire State Realty Trust, Inc. (ESRT) is profitable, generating $47.6M in net income for fiscal year 2025 (6.2% net margin).
Yes, Empire State Realty Trust, Inc. (ESRT) pays a dividend with a yield of 1.68%. This makes it attractive for income-focused investors.
Empire State Realty Trust, Inc. (ESRT) has a return on equity (ROE) of 2.6%. This is below average, suggesting room for improvement.
Empire State Realty Trust, Inc. (ESRT) generated Funds From Operations (FFO) of $242.4M in the trailing twelve months. FFO is the primary profitability metric for REITs.