Last 47 quarters of trend data · Real Estate · REIT - Office
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.46 | 8.87 | 18.46 | 24.83 | 66.29 | 45.72 | 8.23 | — | 59.84 | 11.13 | 26.18 | 15.94 | 24.54 | 91.68 | 13.80 | — | 51.85 | 32.88 | 71.47 | 11.49 | 15.89 |
| — | -80.6% | +124.2% | — | +10.8% | +310.7% | -68.6% | — | +143.9% | -87.9% | +89.7% | — | -52.7% | +178.9% | -80.7% | — | +226.3% | +65.9% | +246.2% | -7.2% | -26.2% | |
| P/S Ratio | 4.06 | 3.91 | 2.80 | 3.49 | 4.36 | 4.26 | 4.06 | 3.98 | 4.43 | 3.40 | 3.28 | 2.93 | 2.63 | 3.04 | 2.93 | 3.47 | 3.50 | 4.51 | 5.95 | 5.87 | 6.01 |
| — | -8.2% | -31.0% | -12.3% | -1.7% | +25.3% | +23.9% | +35.6% | +68.7% | +11.8% | +11.7% | -15.4% | -25.0% | -32.6% | -50.7% | -40.9% | -41.7% | -30.7% | -4.6% | +3.1% | +21.4% | |
| P/B Ratio | 1.35 | 1.31 | 0.92 | 1.17 | 1.43 | 1.40 | 1.32 | 1.35 | 1.49 | 1.12 | 1.12 | 0.98 | 0.87 | 1.00 | 0.98 | 1.15 | 1.12 | 1.41 | 1.89 | 1.83 | 1.86 |
| — | -6.5% | -30.2% | -13.9% | -3.5% | +24.4% | +17.0% | +38.7% | +70.8% | +13.0% | +14.5% | -15.0% | -22.3% | -29.5% | -47.9% | -37.3% | -39.8% | -27.0% | +1.8% | +9.8% | +26.4% | |
| P/FCF | 19.65 | 4.87 | 9.54 | 17.06 | 9.10 | 7.34 | 17.57 | 7.93 | 9.29 | 5.36 | 9.56 | 12.14 | 8.15 | 5.46 | 33.63 | 7.22 | 10.52 | 7.20 | 16.59 | 18.12 | 15.04 |
| — | -33.6% | -45.7% | +115.1% | -2.1% | +36.9% | +83.7% | -34.7% | +14.1% | -1.9% | -71.6% | +68.1% | -22.5% | -24.2% | +102.7% | -60.1% | -30.1% | -50.6% | +20.0% | +49.7% | +59.9% | |
| EV / EBITDA | 13.64 | 12.39 | 11.72 | 12.59 | 13.59 | 13.29 | 13.37 | 8.72 | 13.39 | 11.37 | 11.72 | 11.07 | 10.25 | 10.83 | 10.67 | 7.79 | 11.16 | 12.25 | 14.70 | 10.02 | 15.28 |
| — | -6.8% | -12.4% | +44.4% | +1.5% | +16.9% | +14.1% | -21.3% | +30.7% | +4.9% | +9.8% | +42.1% | -8.1% | -11.5% | -27.4% | -22.3% | -27.0% | -20.1% | -1.3% | +1.1% | +18.4% | |
| EV / EBIT | 32.86 | 29.50 | 20.22 | 23.24 | 33.03 | 29.59 | 12.03 | 31.16 | 32.57 | 14.77 | 23.59 | 18.81 | 23.39 | 18.29 | 18.40 | 26.47 | 22.00 | 20.80 | 29.04 | 31.37 | 19.51 |
| — | -0.3% | +68.1% | -25.4% | +1.4% | +100.3% | -49.0% | +65.6% | +39.2% | -19.2% | +28.2% | -28.9% | +6.4% | -12.1% | -36.6% | -15.6% | +12.7% | -7.9% | +27.0% | +0.3% | -18.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.6% | 67.6% | 66.8% | 67.2% | 67.3% | 68.3% | 67.5% | 65.4% | 67.8% | 68.5% | 66.7% | 66.4% | 67.6% | 68.0% | 69.1% | 67.2% | 68.0% | 69.4% | 70.2% | 68.8% | 69.0% |
| — | -1.0% | -1.1% | +2.6% | -0.8% | -0.3% | +1.3% | -1.4% | +0.4% | +0.7% | -3.5% | -1.2% | -0.6% | -2.0% | -1.6% | -2.4% | -1.5% | -0.4% | +1.2% | +1.0% | +0.6% | |
| Operating Margin | 26.0% | 26.5% | 24.3% | 26.1% | 26.2% | 25.9% | 25.7% | 60.5% | 24.3% | 27.9% | 25.9% | 22.3% | 27.2% | 27.3% | 30.1% | 62.7% | 28.0% | 30.5% | 29.9% | 63.8% | 29.7% |
| — | +2.2% | -5.5% | -56.9% | +8.1% | -7.1% | -0.7% | +171.5% | -10.6% | +2.1% | -13.9% | -64.4% | -3.1% | -10.5% | +0.5% | -1.8% | -5.6% | -1.2% | -3.1% | +2.7% | -1.7% | |
| Net Margin | 19.8% | 43.5% | 14.9% | 14.4% | 6.7% | 9.4% | 48.9% | -1.5% | 7.4% | 31.0% | 12.6% | 18.7% | 11.0% | 20.7% | 20.9% | 13.3% | 18.8% | 25.1% | 19.8% | 61.7% | 37.2% |
| — | +362.4% | -69.5% | +1056.5% | -10.3% | -69.7% | +287.5% | -108.1% | -32.3% | +49.8% | -39.6% | +40.6% | -41.6% | -17.5% | +5.5% | -78.5% | -49.5% | -22.3% | -33.9% | +34.9% | +64.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.6% | 3.6% | 1.3% | 1.2% | 0.5% | 0.8% | 4.0% | -0.1% | 0.6% | 2.6% | 1.1% | 1.5% | 0.9% | 1.7% | 1.7% | 1.1% | 1.5% | 2.0% | 1.6% | 4.9% | 2.9% |
| — | +371.4% | -68.4% | +1037.0% | -11.0% | -70.2% | +270.9% | -108.2% | -31.5% | +52.0% | -38.1% | +41.6% | -39.7% | -13.8% | +11.1% | -77.6% | -48.3% | -18.6% | -29.6% | +44.9% | +72.6% | |
| ROA | 2.6% | 1.4% | 0.5% | 0.5% | 0.2% | 0.3% | 1.6% | -0.1% | 0.3% | 1.1% | 0.4% | 0.6% | 0.4% | 0.7% | 0.7% | 0.5% | 0.7% | 0.9% | 0.7% | 2.2% | 1.3% |
| — | +363.1% | -69.4% | +1012.8% | -12.8% | -70.7% | +264.9% | -108.0% | -32.9% | +49.3% | -39.4% | +36.0% | -44.0% | -21.1% | +2.0% | -78.5% | -49.2% | -21.6% | -32.1% | +38.0% | +65.9% | |
| ROIC | 2.7% | 0.7% | 0.6% | 0.7% | 0.7% | 0.7% | 0.7% | 1.6% | 0.7% | 0.8% | 0.7% | 0.6% | 0.7% | 0.7% | 0.8% | 1.8% | 0.8% | 0.9% | 0.9% | 1.8% | 0.8% |
| — | +4.0% | -5.9% | -59.2% | +4.6% | -10.6% | -6.7% | +170.4% | -11.4% | +2.2% | -13.4% | -65.6% | -7.1% | -14.5% | -3.0% | -1.9% | -4.8% | -0.8% | -1.9% | +2.7% | -2.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.49 | 1.36 | 1.42 | 1.49 | 1.39 | 1.36 | 1.35 | 1.35 | 1.35 | 1.29 | 1.32 | 1.29 | 1.28 | 1.26 | 1.28 | 1.25 | 1.15 | 1.08 | 1.08 | 1.07 | 1.17 |
| — | -0.5% | +5.0% | +10.2% | +2.7% | +5.9% | +1.9% | +4.9% | +5.3% | +2.1% | +3.1% | +3.6% | +11.8% | +17.4% | +18.4% | +16.7% | -1.5% | +8.4% | +8.7% | +6.8% | +14.8% | |
| Debt / EBITDA | 7.21 | 25.79 | 28.60 | 28.40 | 26.84 | 26.33 | 27.17 | 17.50 | 25.60 | 24.40 | 25.42 | 25.35 | 24.52 | 24.30 | 24.25 | 16.28 | 22.68 | 21.26 | 21.52 | 14.82 | 23.63 |
| — | -2.1% | +5.3% | +62.3% | +4.8% | +7.9% | +6.9% | -31.0% | +4.4% | +0.4% | +4.8% | +55.7% | +8.1% | +14.3% | +12.7% | +9.8% | -4.0% | +2.3% | +2.5% | -2.0% | +10.0% | |
| Current Ratio | 42.45 | 1.78 | 1.73 | 42.45 | 1.66 | 1.29 | 1.40 | 1.64 | 1.56 | 1.34 | 1.75 | 1.46 | 1.49 | 1.28 | 1.59 | 1.50 | 1.46 | 1.95 | 1.84 | 1.33 | 1.82 |
| — | +37.4% | +23.5% | +2490.8% | +6.1% | -3.7% | -20.2% | +12.5% | +4.7% | +5.1% | +10.3% | -3.1% | +2.4% | -34.5% | -13.8% | +12.8% | -20.1% | -0.0% | +3.2% | -41.6% | +2.6% | |
| Quick Ratio | 42.45 | 1.78 | 1.73 | 39.81 | 1.62 | 1.29 | 1.40 | 1.64 | 1.56 | 1.34 | 1.75 | 1.44 | 1.49 | 1.28 | 1.59 | 1.50 | 1.46 | 1.95 | 1.84 | 1.33 | 1.82 |
| — | +37.4% | +23.5% | +2329.9% | +3.8% | -3.7% | -20.2% | +14.1% | +4.7% | +5.1% | +10.3% | -4.5% | +2.4% | -34.5% | -13.8% | +12.8% | -20.1% | -0.0% | +3.2% | -41.6% | +2.6% | |
| Interest Coverage | 2.07 | 1.37 | 1.80 | 1.75 | 1.36 | 1.51 | 3.73 | 1.41 | 1.41 | 2.80 | 1.74 | 2.11 | 1.68 | 2.29 | 2.36 | 1.95 | 2.52 | 3.10 | 2.73 | 2.39 | 4.44 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying HIW stock.
Highwoods Properties, Inc.'s current P/E is 20.5x. The average P/E over the last 4 quarters is 29.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Highwoods Properties, Inc.'s current operating margin is 26.0%. 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 Highwoods Properties, Inc.'s business trajectory between earnings reports.