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.
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 | $0.29vs $0.16+81.3% | $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
| Line item | 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
| Line item | 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 | 1.49x |
| Net Debt / EBITDA | 2.84x | 2.88x | 5.72x | 5.09x | 5.63x | 6.03x | 6.10x | 6.39x | 7.16x | 7.16x |
| 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
| Line item | 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 | 367.31M |
| 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% | 44.81% |
| 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 | 7.16x |
| 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 7.81%. 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 7.81% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Highwoods Properties, Inc. (HIW) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates