Last 47 quarters of trend data · Real Estate · REIT - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Empire State Realty Trust, Inc.'s quarterly P/E stands at 22.4x, down 60.6% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 13.8% YoY to 11.9x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 28.61 | 22.39 | 41.09 | 52.81 | 39.10 | 56.83 | 34.32 | 23.45 | 84.42 | 43.73 | 28.51 | 13.37 | 40.56 |
| — | -60.6% | +19.7% | +125.2% | -53.7% | +30.0% | +20.4% | +75.3% | +108.1% | +111.5% | -34.1% | +37.0% | — | |
| P/S Ratio | 1.14 | 2.21 | 2.62 | 2.86 | 2.93 | 3.51 | 3.74 | 3.32 | 3.74 | 3.35 | 2.79 | 2.60 | 2.61 |
| — | -37.0% | -30.0% | -13.9% | -21.7% | +4.7% | +34.0% | +28.0% | +43.1% | +35.9% | +17.1% | +8.3% | -36.2% | |
| P/B Ratio | 0.76 | 0.97 | 1.15 | 1.22 | 1.18 | 1.56 | 1.70 | 1.44 | 1.57 | 1.49 | 1.23 | 1.16 | 1.03 |
| — | -37.9% | -32.3% | -15.2% | -24.9% | +4.2% | +37.7% | +24.5% | +53.1% | +40.6% | +17.9% | +1.4% | -36.6% | |
| P/FCF | 17.33 | — | 7.12 | — | 12.83 | 33.02 | 13.47 | — | 37.79 | — | 8.24 | — | 9.65 |
| — | — | -47.2% | — | -66.1% | — | +63.6% | — | +291.8% | — | +8.7% | — | -53.0% | |
| EV / EBITDA | 9.53 | 11.89 | 11.51 | 12.42 | 13.43 | 13.80 | 13.84 | 12.68 | 14.77 | 13.11 | 11.41 | 10.64 | 14.07 |
| — | -13.8% | -16.8% | -2.0% | -9.1% | +5.2% | +21.3% | +19.2% | +5.0% | +15.2% | +2.5% | +16.0% | -8.1% | |
| EV / EBIT | 23.21 | 17.07 | 24.72 | 28.22 | 38.83 | 28.38 | 27.84 | 28.43 | 33.47 | 27.65 | 23.99 | 21.30 | 26.01 |
| — | -39.9% | -11.2% | -0.8% | +16.0% | +2.6% | +16.0% | +33.5% | +28.7% | +13.4% | -7.1% | +3.0% | -86.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Empire State Realty Trust, Inc.'s operating margin was 17.8% in Q4 2025, down 2.1 pp QoQ and down 4.0 pp YoY. Gross margin contracted 420.8% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 1.8% | -172.4% | 83.2% | 53.0% | 50.8% | 53.7% | 54.9% | 55.3% | 51.4% | 55.2% | 54.8% | 57.0% | 49.0% |
| — | -420.8% | +51.5% | -4.2% | -1.1% | -2.7% | +0.3% | -2.9% | +5.0% | +0.2% | +2.4% | -6.5% | -7.5% | |
| Operating Margin | 17.7% | 17.8% | 19.9% | 18.4% | 14.3% | 21.7% | 22.7% | 20.8% | 17.1% | 21.1% | 22.1% | 24.2% | 10.6% |
| — | -18.2% | -12.4% | -11.4% | -16.5% | +2.8% | +3.0% | -14.3% | +61.4% | -1.6% | +14.1% | +3.2% | +188.1% | |
| Net Margin | 6.2% | 10.4% | 4.6% | 4.0% | 5.7% | 6.2% | 7.3% | 9.6% | 3.7% | 5.3% | 6.6% | 12.0% | 4.6% |
| — | +68.3% | -37.5% | -58.5% | +54.0% | +17.4% | +11.0% | -20.5% | -19.4% | -30.0% | +83.1% | -22.3% | +173.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.6% | 1.1% | 0.5% | 0.4% | 0.6% | 0.7% | 0.8% | 1.0% | 0.4% | 0.6% | 0.7% | 1.4% | 0.5% |
| — | +65.8% | -39.4% | -59.4% | +48.2% | +17.7% | +13.6% | -22.9% | -13.8% | -27.8% | +85.1% | -26.6% | +173.6% | |
| ROA | 1.1% | 0.5% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% | 0.4% | 0.2% | 0.2% | 0.3% | 0.5% | 0.2% |
| — | +77.0% | -32.9% | -56.0% | +49.2% | +13.4% | +9.6% | -23.5% | -12.3% | -26.2% | +91.2% | -24.2% | +175.7% | |
| ROIC | 2.6% | 0.7% | 0.8% | 0.7% | 0.5% | 0.8% | 0.9% | 0.8% | 0.6% | 0.8% | 0.9% | 0.9% | 0.4% |
| — | -18.9% | -13.1% | -12.0% | -19.8% | -0.1% | +4.3% | -15.0% | +79.0% | +4.4% | +17.1% | -2.9% | +181.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Empire State Realty Trust, Inc.'s Debt/EBITDA ratio is 28.7x, up from 24.0x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 174.5% YoY to 3.15x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.34 | 1.34 | 1.16 | 1.17 | 1.17 | 1.39 | 1.41 | 1.42 | 1.31 | 1.31 | 1.31 | 1.33 | 1.36 |
| — | -4.0% | -18.0% | -18.1% | -11.1% | +6.3% | +7.9% | +7.2% | -3.0% | -3.0% | -4.9% | -4.2% | -3.6% | |
| Debt / EBITDA | 7.38 | 28.75 | 23.99 | 24.82 | 27.98 | 28.13 | 27.23 | 28.23 | 28.85 | 26.39 | 25.54 | 24.57 | 34.37 |
| — | +2.2% | -11.9% | -12.1% | -3.0% | +6.6% | +6.6% | +14.9% | -16.1% | -3.2% | -8.6% | +11.6% | +10.4% | |
| Current Ratio | 3.15 | 3.15 | 1.09 | 0.98 | 3.83 | 1.15 | 1.69 | 1.88 | 1.24 | 1.26 | 8.52 | 9.17 | 9.44 |
| — | +174.5% | -35.6% | -47.9% | +208.2% | -8.7% | -80.1% | -79.5% | -86.8% | +12.7% | +512.9% | +585.4% | +587.8% | |
| Quick Ratio | 3.15 | 3.15 | 1.09 | 0.98 | 3.83 | 1.15 | 1.69 | 1.88 | 1.24 | 1.26 | 8.52 | 9.17 | 9.44 |
| — | +174.5% | -35.6% | -47.9% | +208.2% | -8.7% | -80.1% | -79.5% | -86.8% | +12.7% | +512.9% | +585.4% | +587.8% | |
| Interest Coverage | 1.73 | 2.28 | 1.61 | 1.47 | 0.93 | 1.47 | 1.55 | 1.52 | 1.38 | 1.61 | 1.66 | 1.82 | 1.41 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying ESRT stock.
Empire State Realty Trust, Inc.'s current P/E is 28.6x. The average P/E over the last 4 quarters is 38.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Empire State Realty Trust, Inc.'s current operating margin is 17.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Empire State Realty Trust, Inc.'s business trajectory between earnings reports.