Easterly Government Properties (DEA) Financials

$23.65 +0.63 (+2.74%)

Closing price 05/18/2026 03:59 PM Eastern

Extended Trading

$23.45 -0.20 (-0.84%)

As of 08:15 AM Eastern

Annual Income Statements for Easterly Government Properties

This table shows Easterly Government Properties' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-1.28	3.96	4.45	5.70	7.21	57	30	31	19	20	13
Consolidated Net Income / (Loss)	-5.37	5.50	5.39	6.66	8.22	14	34	36	21	21	14
Net Income / (Loss) Continuing Operations	-5.37	5.50	5.39	6.66	8.22	58	34	32	16	15	6.78
Total Pre-Tax Income	-0.25	5.50	5.39	6.66	8.22	58	34	32	16	15	6.78
Total Operating Income	4.72	14	23	30	35	94	71	66	65	77	81
Total Gross Profit	71	84	106	130	173	190	218	227	215	232	259
Total Revenue	71	105	131	161	222	238	275	294	287	302	336
Operating Revenue	71	105	131	161	222	238	275	294	287	302	336
Total Cost of Revenue	0.00	21	25	31	48	48	57	67	72	70	77
Operating Cost of Revenue	-	21	25	31	48	48	57	67	72	70	77
Total Operating Expenses	67	70	83	100	138	96	147	161	151	155	177
Selling, General & Admin Expense	8.89	12	13	15	20	-	24	25	27	24	26
Depreciation Expense	33	46	55	66	92	94	91	98	91	96	114
Other Operating Expenses / (Income)	22	9.90	14	17	24	-	30	31	30	32	33
Impairment Charge	-	-	-	-	-	-	0.00	5.54	0.00	0.00	2.55
Restructuring Charge	2.89	1.80	1.49	1.58	1.74	2.09	1.94	1.37	1.66	1.88	1.42
Total Other Income / (Expense), net	-4.97	-8.18	-17	-23	-27	-35	-37	-34	-49	-62	-74
Interest & Investment Income	-4.97	-8.18	-17	-23	-33	-35	-39	-47	-49	-62	-74
Other Income / (Expense), net	0.00	0.00	-0.31	0.00	6.25	-	1.31	14	0.00	0.17	0.00
Other Adjustments to Consolidated Net Income / (Loss)	-	-	-	-	0.00	-	0.27	3.37	5.50	6.05	6.78
Net Income / (Loss) Attributable to Noncontrolling Interest	-4.09	1.53	0.94	0.96	1.02	1.57	3.90	4.09	2.26	1.03	0.55
Basic Earnings per Share	($0.06)	$0.13	$0.11	$0.09	$0.10	$0.15	$0.35	$0.34	$0.48	$0.46	$0.27
Weighted Average Basic Shares Outstanding	21.43M	30.65M	39.61M	53.51M	68.77M	78.22M	84.04M	90.61M	37.71M	41.38M	44.92M
Diluted Earnings per Share	($0.06)	$0.12	$0.10	$0.08	$0.10	$0.15	$0.35	$0.34	$0.48	$0.46	$0.27
Weighted Average Diluted Shares Outstanding	21.43M	32.37M	41.56M	54.93M	69.21M	78.79M	84.62M	90.95M	37.82M	41.50M	45.06M
Weighted Average Basic & Diluted Shares Outstanding	24.17M	36.87M	44.97M	60.90M	75.05M	82.13M	90.15M	90.82M	102.35M	107.97M	46.32M
Cash Dividends to Common per Share	-	$0.92	$1.00	$1.04	$1.04	$1.04	$1.05	$1.06	$2.65	$2.65	$2.01

This table shows Easterly Government Properties' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	5.37	4.44	4.63	4.61	4.86	5.45	3.13	4.07	1.21	4.59	1.37
Consolidated Net Income / (Loss)	6.08	4.79	4.88	4.85	5.12	5.73	3.28	4.25	1.25	4.77	1.41
Net Income / (Loss) Continuing Operations	4.74	3.46	3.47	3.47	3.54	4.05	1.46	2.41	-0.31	3.21	-0.25
Total Pre-Tax Income	4.74	3.46	3.47	3.47	3.54	4.05	1.46	2.41	-0.31	3.21	-0.25
Total Operating Income	17	17	17	19	20	21	20	21	19	21	20
Total Gross Profit	53	55	56	58	58	60	61	65	65	67	71
Total Revenue	72	73	73	76	75	78	79	84	86	87	92
Operating Revenue	72	73	73	76	75	78	79	84	86	87	92
Total Cost of Revenue	19	18	17	18	17	19	18	19	21	20	21
Operating Cost of Revenue	19	18	17	18	17	19	18	19	21	20	21
Total Operating Expenses	36	38	39	39	38	38	41	44	47	46	51
Selling, General & Admin Expense	6.11	6.69	6.46	6.91	4.67	6.20	6.22	6.81	5.81	7.21	8.50
Depreciation Expense	22	23	24	24	24	25	27	29	29	30	33
Other Operating Expenses / (Income)	7.81	7.56	8.23	8.06	9.26	7.12	7.72	7.95	9.12	8.69	8.73
Impairment Charge	0.00	-	0.00	0.00	0.00	-	0.00	0.00	2.55	-	0.00
Restructuring Charge	0.32	0.44	0.42	0.41	0.60	0.45	0.31	0.36	0.29	0.46	0.65
Total Other Income / (Expense), net	-12	-13	-14	-15	-16	-17	-18	-19	-19	-18	-20
Interest & Investment Income	-12	-13	-14	-15	-16	-17	-18	-19	-19	-18	-20
Other Income / (Expense), net	-	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Other Adjustments to Consolidated Net Income / (Loss)	1.35	1.33	1.42	1.38	1.58	1.68	1.82	1.84	1.56	1.56	1.66
Net Income / (Loss) Attributable to Noncontrolling Interest	0.71	0.35	0.26	0.24	0.25	0.28	0.16	0.18	0.03	0.18	0.05
Basic Earnings per Share	$0.06	$0.04	$0.11	$0.11	$0.11	$0.05	$0.07	$0.09	$0.02	$0.10	$0.02
Weighted Average Basic Shares Outstanding	93.54M	94.26M	40.80M	41.17M	41.41M	103.44M	43.22M	45.01M	45.34M	44.92M	46.26M
Diluted Earnings per Share	$0.06	$0.04	$0.11	$0.11	$0.11	$0.05	$0.07	$0.09	$0.02	$0.10	$0.02
Weighted Average Diluted Shares Outstanding	93.85M	94.56M	40.89M	41.28M	41.56M	103.76M	43.37M	45.11M	45.49M	45.06M	46.45M
Weighted Average Basic & Diluted Shares Outstanding	95.20M	102.35M	103.00M	103.03M	105.67M	107.97M	44.91M	45.35M	46.11M	46.32M	46.45M
Cash Dividends to Common per Share	$0.27	$0.27	$0.66	$0.66	$0.66	$0.27	$0.66	$0.45	$0.45	$0.48	$0.45

This table details how cash moves in and out of Easterly Government Properties' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-23	-3.42	9.71	-5.10	4.44	-0.88	5.47	-2.87	4.67	5.87	5.83
Net Cash From Operating Activities	30	47	49	63	142	145	118	126	114	163	259
Net Cash From Continuing Operating Activities	30	47	49	63	143	145	118	126	114	162	258
Net Income / (Loss) Continuing Operations	-5.37	5.50	5.39	6.66	8.22	14	34	36	21	21	14
Consolidated Net Income / (Loss)	-5.37	5.50	5.39	6.66	8.22	14	34	36	21	21	14
Depreciation Expense	33	46	55	66	92	94	91	98	91	96	114
Amortization Expense	-4.19	-6.44	-7.53	-7.59	-5.99	-7.98	-7.97	-7.11	-7.96	-6.45	-5.94
Non-Cash Adjustments To Reconcile Net Income	6.51	2.80	0.49	-2.60	-3.61	4.66	-1.30	0.54	6.58	7.58	20
Changes in Operating Assets and Liabilities, net	0.11	-0.36	-4.00	-0.09	52	41	2.39	-1.30	3.05	44	116
Net Cash From Investing Activities	-165	-170	-396	-467	-442	-290	-363	-69	-127	-410	-285
Net Cash From Continuing Investing Activities	-165	-170	-396	-467	-442	-290	-363	-69	-127	-410	-285
Acquisitions	-	-	-	-	0.00	0.00	-	-	-18	-40	0.00
Purchase of Investments	-	-	-	-	-	-	-132	-144	0.00	-34	-14
Sale of Property, Plant & Equipment	0.00	0.00	11	0.00	20	3.52	7.34	202	0.00	2.17	3.49
Other Investing Activities, net	6.09	-1.56	-14	-64	-68	-61	-239	-128	-109	-338	-275
Net Cash From Financing Activities	111	119	356	399	304	144	250	-60	17	253	32
Net Cash From Continuing Financing Activities	111	119	356	399	304	144	250	-60	17	253	32
Repayment of Debt	-330	-33	-280	-135	-477	-197	-541	-191	-205	-520	-427
Payment of Dividends	-21	-40	-49	-66	-82	-92	-100	-109	-112	-116	-95
Issuance of Debt	201	87	564	313	612	273	716	231	198	818	468
Issuance of Common Equity	269	110	126	298	259	162	176	9.50	86	72	64
Other Financing Activities, net	-5.44	-4.19	-4.46	-11	-7.06	-1.86	0.00	0.00	50	-0.92	23
Cash Interest Paid	4.05	7.44	16	23	31	36	36	41	49	62	79

This table details how cash moves in and out of Easterly Government Properties' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	12	-12	34	-29	12	-11	-10	-3.44	0.16	19	-21
Net Cash From Operating Activities	38	18	24	57	57	25	24	38	155	42	27
Net Cash From Continuing Operating Activities	38	17	24	57	57	24	24	38	155	41	27
Net Income / (Loss) Continuing Operations	6.08	4.79	4.88	4.85	5.12	5.73	3.28	4.25	1.25	4.77	1.41
Consolidated Net Income / (Loss)	6.08	4.79	4.88	4.85	5.12	5.73	3.28	4.25	1.25	4.77	1.41
Depreciation Expense	22	23	24	24	24	25	27	29	29	30	33
Amortization Expense	-1.30	-2.66	-1.63	-1.08	-1.21	-2.28	-1.19	-0.89	-0.70	-3.17	-2.73
Non-Cash Adjustments To Reconcile Net Income	1.80	0.13	1.87	6.00	1.77	0.84	3.20	4.38	7.92	4.67	0.78
Changes in Operating Assets and Liabilities, net	9.28	-8.51	-5.03	23	28	-4.85	-7.90	1.83	118	4.65	-5.35
Net Cash From Investing Activities	-28	-78	-25	-101	-125	-158	-45	-147	-66	-28	-73
Net Cash From Continuing Investing Activities	-28	-78	-25	-101	-125	-158	-45	-147	-66	-28	-73
Purchase of Investments	-	18	-3.44	-	-	37	-8.54	8.54	-14	-0.17	-6.93
Other Investing Activities, net	-9.96	-78	-21	-101	-53	-158	-37	-155	-55	-28	-67
Net Cash From Financing Activities	1.46	49	35	16	80	122	11	105	-89	5.22	25
Net Cash From Continuing Financing Activities	1.46	49	35	16	80	122	11	105	-89	5.22	25
Repayment of Debt	-101	-20	-8.97	-194	-177	-140	-178	-39	-168	-41	-54
Repurchase of Common Equity	-	-	-0.17	-	-0.35	-	-0.42	-0.07	-0.19	-	-0.02
Payment of Dividends	-28	-29	-29	-29	-29	-30	-30	-21	-21	-22	-22
Issuance of Debt	47	98	73	231	250	264	181	161	84	43	99
Issuance of Common Equity	34	-	0.00	7.98	35	28	41	5.37	17	-	2.17
Other Financing Activities, net	50	-0.40	0.00	-	-	-0.92	-1.95	-	-	25	0.00
Cash Interest Paid	10	15	12	15	11	23	16	18	18	27	19

This table presents Easterly Government Properties' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	912	1,047	1,425	1,862	2,235	2,458	2,826	2,829	2,880	3,223	3,380
Total Current Assets	14	14	30	11	45	85	109	111	126	138	142
Cash & Equivalents	8.18	4.85	13	6.85	12	8.47	11	7.58	9.38	19	23
Restricted Cash	1.74	1.65	-	4.25	3.54	6.20	9.01	9.70	13	8.45	10
Accounts Receivable	2.92	5.82	9.35	-	16	45	59	59	66	71	51
Prepaid Expenses	1.51	1.42	8.09	-	14	26	30	35	37	39	57
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,285	2,319	0.00	0.00
Total Noncurrent Assets	898	1,033	1,395	166	2,189	2,372	2,717	433	435	3,085	3,238
Long-Term Investments	-	-	-	-	-	0.00	132	272	285	317	305
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	-	34	34
Intangible Assets	117	115	143	166	169	163	186	157	148	161	184
Other Noncurrent Operating Assets	781	918	1,252	-	2,021	2,209	2,399	4.02	1.99	2,573	2,715
Total Liabilities & Shareholders' Equity	912	1,047	1,425	1,862	2,235	2,458	2,826	2,829	2,880	3,223	3,380
Total Liabilities	292	349	634	836	1,035	1,158	1,385	1,418	1,470	1,836	2,010
Total Current Liabilities	9.35	14	20	135	102	141	148	151	163	222	329
Accounts Payable	9.35	14	20	-	48	49	61	67	80	101	110
Current Deferred Revenue	-	-	-	-	55	93	87	83	83	121	219
Total Noncurrent Liabilities	283	335	614	632	932	1,016	1,237	1,268	1,307	1,614	1,681
Long-Term Debt	238	293	576	632	902	978	1,211	1,251	1,295	1,599	1,666
Other Noncurrent Operating Liabilities	45	42	39	-	30	38	25	16	12	15	15
Total Equity & Noncontrolling Interests	620	698	791	1,025	1,200	1,300	1,442	1,411	1,410	1,387	1,370
Total Preferred & Common Equity	377	560	668	894	1,063	1,155	1,283	1,245	1,322	1,321	1,323
Total Common Equity	377	560	668	894	1,063	1,155	1,283	1,245	1,322	1,321	1,323
Common Stock	392	598	741	1,018	1,258	1,426	1,606	1,624	1,784	1,875	1,959
Retained Earnings	-15	-40	-77	-126	-191	-260	-318	-382	-464	-554	-631
Accumulated Other Comprehensive Income / (Loss)	0.00	3.04	3.40	2.41	-4.69	-11	-5.07	3.55	1.87	0.68	-4.58
Noncontrolling Interest	243	138	123	131	137	145	159	166	87	66	46

This table presents Easterly Government Properties' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,962	2,819	2,808	2,825	2,943	2,996	3,103	3,225	3,359	3,381	3,420
Total Current Assets	116	117	118	133	177	148	153	137	146	140	143
Cash & Equivalents	11	8.85	9.82	21	44	15	31	8.46	4.70	4.36	2.02
Restricted Cash	10	12	12	13	13	12	8.01	9.03	9.35	9.85	11
Accounts Receivable	60	58	61	61	73	71	70	71	76	66	73
Prepaid Expenses	34	38	35	38	47	50	41	49	56	60	58
Other Current Nonoperating Assets	-	-	-	-	-	-	2.00	0.00	0.00	0.00	0.00
Plant, Property, & Equipment, net	0.00	0.00	0.00	2,263	2,337	2,418	2,457	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,846	2,702	2,690	430	429	430	463	3,088	3,213	3,241	3,277
Long-Term Investments	199	271	269	285	283	280	316	315	311	307	304
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	44	32	35	44
Intangible Assets	178	151	146	141	143	148	146	156	188	191	190
Other Noncurrent Operating Assets	2,468	2,280	2,276	5.00	2.90	2.47	0.51	2,574	2,683	2,710	2,739
Total Liabilities & Shareholders' Equity	2,962	2,819	2,808	2,825	2,943	2,996	3,103	3,225	3,359	3,381	3,420
Total Liabilities	1,543	1,379	1,386	1,390	1,555	1,624	1,721	1,826	1,973	1,997	2,065
Total Current Liabilities	153	145	150	160	184	212	236	210	234	342	338
Accounts Payable	68	63	64	76	96	106	114	91	115	122	108
Current Deferred Revenue	86	82	86	84	89	106	122	118	119	221	230
Total Noncurrent Liabilities	1,390	1,235	1,236	1,230	1,371	1,412	1,486	1,617	1,739	1,655	1,726
Long-Term Debt	1,371	1,219	1,221	1,217	1,359	1,401	1,475	1,601	1,723	1,639	1,712
Other Noncurrent Operating Liabilities	19	16	14	13	12	11	11	15	16	16	15
Total Equity & Noncontrolling Interests	1,419	1,440	1,422	1,435	1,388	1,372	1,382	1,399	1,387	1,385	1,356
Total Preferred & Common Equity	1,253	1,273	1,257	1,271	1,319	1,305	1,315	1,334	1,334	1,334	1,309
Total Common Equity	1,253	1,273	1,257	1,271	1,319	1,305	1,315	1,334	1,334	1,334	1,309
Common Stock	1,624	1,673	1,674	1,708	1,802	1,812	1,846	1,916	1,935	1,953	1,962
Retained Earnings	-375	-403	-422	-442	-487	-509	-532	-580	-596	-615	-651
Accumulated Other Comprehensive Income / (Loss)	3.99	1.77	4.52	4.43	2.75	2.34	0.49	-2.97	-4.59	-4.64	-2.55
Noncontrolling Interest	166	168	166	164	69	68	66	65	52	51	47

This table displays calculated financial ratios and metrics derived from Easterly Government Properties' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	46.57%	24.90%	22.90%	38.07%	7.40%	15.42%	6.82%	-2.17%	5.16%	11.27%
EBITDA Growth	0.00%	58.93%	31.43%	26.60%	44.98%	40.20%	-13.37%	9.70%	-13.26%	12.68%	13.39%
EBIT Growth	0.00%	189.52%	64.25%	31.62%	41.01%	125.05%	-22.91%	10.02%	-18.64%	18.89%	5.55%
NOPAT Growth	0.00%	313.60%	66.52%	29.83%	19.88%	164.71%	-24.30%	-7.09%	-1.89%	18.63%	5.78%
Net Income Growth	0.00%	202.35%	-1.96%	23.57%	23.50%	64.49%	151.01%	4.73%	-40.78%	-2.29%	-34.12%
EPS Growth	0.00%	300.00%	-16.67%	-20.00%	25.00%	50.00%	133.33%	-2.86%	-44.12%	-5.26%	-41.30%
Operating Cash Flow Growth	0.00%	58.19%	3.91%	27.53%	126.68%	2.03%	-18.49%	6.42%	-9.10%	42.07%	59.37%
Free Cash Flow Firm Growth	0.00%	78.77%	-182.08%	499.10%	-248.19%	95.92%	-98.67%	216.32%	-79.14%	-514.30%	115.16%
Invested Capital Growth	219.17%	16.10%	37.52%	-100.00%	0.00%	8.51%	10.48%	-5.09%	1.03%	10.17%	2.12%
Revenue Q/Q Growth	0.00%	6.71%	-30.33%	90.62%	6.01%	-1.05%	5.12%	1.12%	-0.79%	1.90%	2.69%
EBITDA Q/Q Growth	0.00%	7.66%	8.37%	8.49%	4.28%	38.91%	-18.06%	4.64%	2.55%	3.78%	2.22%
EBIT Q/Q Growth	0.00%	16.89%	12.75%	0.96%	7.48%	125.19%	-33.64%	9.63%	8.53%	6.04%	0.03%
NOPAT Q/Q Growth	0.00%	16.89%	14.31%	44.23%	-8.62%	125.19%	-34.84%	-9.10%	8.53%	5.80%	0.24%
Net Income Q/Q Growth	0.00%	33.39%	-11.42%	-11.73%	13.34%	8.11%	17.90%	42.69%	-39.30%	4.80%	-6.59%
EPS Q/Q Growth	0.00%	-36.84%	-16.67%	-27.27%	25.00%	7.14%	16.67%	36.00%	-40.63%	5.88%	-12.90%
Operating Cash Flow Q/Q Growth	0.00%	-0.06%	-8.79%	13.12%	6.95%	10.36%	-9.68%	-1.35%	-3.88%	4.51%	7.19%
Free Cash Flow Firm Q/Q Growth	0.00%	40.63%	-9.05%	463.44%	-626.84%	34.86%	-163.66%	245.22%	-86.30%	-170.33%	116.49%
Invested Capital Q/Q Growth	14.30%	2.50%	4.28%	-100.00%	3.23%	3.32%	5.83%	-7.59%	2.73%	7.02%	-0.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	79.85%	80.94%	80.75%	78.23%	79.66%	79.37%	77.25%	74.95%	76.78%	76.94%
EBITDA Margin	46.82%	50.77%	53.42%	55.03%	57.79%	75.43%	56.62%	58.14%	51.55%	55.24%	56.29%
Operating Margin	6.62%	13.07%	17.43%	18.41%	15.98%	39.39%	25.84%	22.47%	22.54%	25.42%	24.17%
EBIT Margin	6.62%	13.07%	17.19%	18.41%	18.80%	39.39%	26.31%	27.10%	22.54%	25.48%	24.17%
Profit (Net Income) Margin	-7.52%	5.25%	4.12%	4.15%	3.71%	5.68%	12.35%	12.11%	7.33%	6.81%	4.03%
Tax Burden Percent	2,157.03%	100.00%	100.00%	100.00%	100.00%	23.19%	100.80%	110.48%	135.33%	141.65%	200.07%
Interest Burden Percent	-5.27%	40.20%	23.99%	22.53%	19.73%	62.18%	46.58%	40.45%	24.04%	18.88%	8.34%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.59%	1.49%	1.95%	4.37%	3.40%	4.31%	2.98%	2.71%	2.71%	3.05%	3.04%
ROIC Less NNEP Spread (ROIC-NNEP)	-8.22%	-1.68%	-2.14%	-3.77%	-2.74%	-4.37%	-0.68%	-0.30%	-1.76%	-1.97%	-2.20%
Return on Net Nonoperating Assets (RNNOA)	-1.76%	-0.66%	-1.22%	-2.68%	-2.03%	-3.23%	-0.50%	-0.21%	-1.22%	-1.58%	-2.06%
Return on Equity (ROE)	-1.17%	0.83%	0.72%	1.68%	1.37%	1.08%	2.48%	2.49%	1.49%	1.47%	0.98%
Cash Return on Invested Capital (CROIC)	-103.98%	-13.41%	-29.65%	204.37%	-196.60%	-3.84%	-6.97%	7.93%	1.69%	-6.63%	0.95%
Operating Return on Assets (OROA)	0.78%	1.40%	1.82%	4.15%	3.73%	4.00%	2.74%	2.81%	2.27%	2.52%	2.46%
Return on Assets (ROA)	-0.89%	0.56%	0.44%	0.93%	0.74%	0.58%	1.29%	1.26%	0.74%	0.67%	0.41%
Return on Common Equity (ROCE)	-0.48%	0.59%	0.60%	3.32%	2.24%	0.96%	2.20%	2.21%	1.36%	1.39%	0.94%
Return on Equity Simple (ROE_SIMPLE)	-1.42%	0.98%	0.81%	0.74%	0.77%	1.17%	2.65%	2.86%	1.59%	1.56%	0.00%
Net Operating Profit after Tax (NOPAT)	3.31	14	23	30	35	94	71	66	65	77	81
NOPAT Margin	4.63%	13.07%	17.43%	18.41%	15.98%	39.39%	25.84%	22.47%	22.54%	25.42%	24.17%
Net Nonoperating Expense Percent (NNEP)	8.82%	3.18%	4.09%	8.13%	6.14%	8.68%	3.66%	3.01%	4.48%	5.01%	5.24%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	2.48%	2.39%	2.57%	2.68%
Cost of Revenue to Revenue	0.00%	20.15%	19.06%	19.25%	21.77%	20.34%	20.63%	22.75%	25.05%	23.22%	23.06%
SG&A Expenses to Revenue	12.46%	11.75%	9.87%	9.23%	9.10%	0.00%	8.56%	8.44%	9.44%	8.09%	7.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	93.38%	66.78%	63.51%	62.34%	62.24%	40.27%	53.54%	54.78%	52.41%	51.35%	52.77%
Earnings before Interest and Taxes (EBIT)	4.72	14	22	30	42	94	72	80	65	77	81
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	33	53	70	88	128	180	156	171	148	167	189
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.66	0.79	0.93	0.74	1.21	1.22	1.24	0.88	0.89	0.91	0.74
Price to Tangible Book Value (P/TBV)	0.95	1.00	1.18	0.74	1.44	1.42	1.45	1.01	1.00	1.04	0.86
Price to Revenue (P/Rev)	3.48	4.25	4.73	4.13	5.82	5.92	5.78	3.75	4.09	3.97	2.91
Price to Earnings (P/E)	0.00	112.32	138.87	116.36	179.10	24.83	52.87	34.97	62.48	61.39	75.14
Dividend Yield	5.25%	7.31%	7.10%	9.53%	7.47%	5.99%	5.69%	10.93%	8.59%	9.33%	12.62%
Earnings Yield	0.00%	0.89%	0.72%	0.86%	0.56%	4.03%	1.89%	2.86%	1.60%	1.63%	1.33%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.88	0.96	0.00	1.11	1.11	1.12	0.94	0.94	0.95	0.87
Enterprise Value to Revenue (EV/Rev)	10.08	8.31	9.98	4.13	10.44	10.58	10.21	7.59	7.84	8.35	7.00
Enterprise Value to EBITDA (EV/EBITDA)	21.53	16.37	18.68	7.51	18.06	14.02	18.04	13.06	15.20	15.11	12.43
Enterprise Value to EBIT (EV/EBIT)	152.32	63.58	58.07	22.45	55.52	26.85	38.82	28.02	34.77	32.76	28.95
Enterprise Value to NOPAT (EV/NOPAT)	217.60	63.58	57.28	22.45	65.30	26.85	39.53	33.79	34.77	32.83	28.95
Enterprise Value to Operating Cash Flow (EV/OCF)	24.02	18.35	26.49	10.57	16.26	17.34	23.72	17.70	19.66	15.50	9.07
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.48	0.00	0.00	0.00	11.54	55.85	0.00	92.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.42	0.73	0.00	0.75	0.75	0.84	0.89	0.92	1.15	1.22
Long-Term Debt to Equity	0.38	0.42	0.73	0.00	0.75	0.75	0.84	0.89	0.92	1.15	1.22
Financial Leverage	0.21	0.39	0.57	0.71	0.74	0.74	0.74	0.71	0.69	0.80	0.94
Leverage Ratio	1.32	1.49	1.66	1.80	1.86	1.88	1.93	1.98	2.02	2.18	2.40
Compound Leverage Factor	-0.07	0.60	0.40	0.41	0.37	1.17	0.90	0.80	0.49	0.41	0.20
Debt to Total Capital	27.76%	29.56%	42.13%	0.00%	42.91%	42.94%	45.66%	47.00%	47.88%	53.55%	54.89%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	27.76%	29.56%	42.13%	0.00%	42.91%	42.94%	45.66%	47.00%	47.88%	53.55%	54.89%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	28.28%	13.91%	9.02%	0.00%	6.53%	6.38%	5.99%	6.24%	3.23%	2.21%	1.53%
Common Equity to Total Capital	43.97%	56.54%	48.85%	0.00%	50.56%	50.68%	48.35%	46.76%	48.89%	44.24%	43.58%
Debt to EBITDA	7.13	5.52	8.25	0.00	7.04	5.45	7.78	7.33	8.74	9.58	8.81
Net Debt to EBITDA	6.83	5.39	8.07	0.00	6.92	5.36	6.81	5.64	6.68	7.52	7.02
Long-Term Debt to EBITDA	7.13	5.52	8.25	0.00	7.04	5.45	7.78	7.33	8.74	9.58	8.81
Debt to NOPAT	72.05	21.43	25.29	0.00	25.45	10.43	17.05	18.97	20.00	20.82	20.51
Net Debt to NOPAT	69.05	20.95	24.73	0.00	25.01	10.27	14.91	14.59	15.27	16.34	16.35
Long-Term Debt to NOPAT	72.05	21.43	25.29	0.00	25.45	10.43	17.05	18.97	20.00	20.82	20.51
Altman Z-Score	0.59	0.86	0.66	0.00	0.76	0.78	0.70	0.46	0.41	0.29	0.14
Noncontrolling Interest Sharing Ratio	58.86%	28.86%	17.53%	-97.45%	-63.09%	11.31%	11.10%	11.39%	8.98%	5.48%	4.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.53	1.00	1.52	0.08	0.44	0.61	0.73	0.74	0.77	0.62	0.43
Quick Ratio	1.19	0.77	1.11	0.00	0.27	0.38	0.47	0.44	0.46	0.41	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-579	-123	-347	1,384	-2,051	-84	-166	193	40	-167	25
Operating Cash Flow to CapEx	17.55%	28.08%	12.89%	15.60%	38.00%	63.36%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.11	0.11	0.23	0.20	0.10	0.10	0.10	0.10	0.10	0.10
Accounts Receivable Turnover	0.00	23.93	17.23	0.00	0.00	7.82	5.30	4.99	4.59	4.40	5.48
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12	0.00	0.00
Accounts Payable Turnover	0.00	1.82	1.48	0.00	0.00	1.01	1.04	1.04	0.98	0.77	0.73
Days Sales Outstanding (DSO)	0.00	15.25	21.19	0.00	0.00	46.67	68.93	73.08	79.49	83.05	66.61
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	200.27	245.98	0.00	0.00	363.20	352.29	350.42	374.17	472.13	496.80
Cash Conversion Cycle (CCC)	0.00	-185.02	-224.79	0.00	0.00	-316.53	-283.37	-277.34	-294.68	-389.08	-430.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	848	985	1,354	0.00	2,086	2,264	2,501	2,373	2,398	2,642	2,698
Invested Capital Turnover	0.13	0.11	0.11	0.24	0.21	0.11	0.12	0.12	0.12	0.12	0.13
Increase / (Decrease) in Invested Capital	582	137	370	-1,354	2,086	177	237	-127	24	244	56
Enterprise Value (EV)	719	869	1,304	664	2,314	2,518	2,807	2,229	2,250	2,521	2,351
Market Capitalization	248	445	618	664	1,291	1,409	1,589	1,101	1,175	1,200	977
Book Value per Share	$15.61	$15.84	$15.22	$14.70	$14.33	$14.21	$14.89	$13.71	$13.89	$12.50	$28.70
Tangible Book Value per Share	$10.79	$12.60	$11.96	$14.70	$12.06	$12.20	$12.73	$11.98	$12.33	$10.97	$24.71
Total Capital	858	991	1,367	0.00	2,102	2,278	2,653	2,662	2,704	2,986	3,036
Total Debt	238	293	576	0.00	902	978	1,211	1,251	1,295	1,599	1,666
Total Long-Term Debt	238	293	576	0.00	902	978	1,211	1,251	1,295	1,599	1,666
Net Debt	228	286	563	0.00	886	964	1,059	962	988	1,254	1,328
Capital Expenditures (CapEx)	171	169	382	403	375	229	-7.34	-202	0.00	-2.17	-3.49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4.92	-6.54	-2.35	-124	-73	-70	-59	-57	-59	-112	-220
Debt-free Net Working Capital (DFNWC)	5.00	-0.05	10	-124	-57	-56	-39	-40	-37	-84	-187
Net Working Capital (NWC)	5.00	-0.05	10	-124	-57	-56	-39	-40	-37	-84	-187
Net Nonoperating Expense (NNE)	8.68	8.18	17	23	27	80	37	30	44	56	68
Net Nonoperating Obligations (NNO)	228	286	563	0.00	886	964	1,059	962	988	1,254	1,328
Total Depreciation and Amortization (D&A)	29	39	47	59	86	86	83	91	83	90	108
Debt-free, Cash-free Net Working Capital to Revenue	-6.89%	-6.25%	-1.80%	-76.99%	-32.78%	-29.52%	-21.61%	-19.34%	-20.63%	-37.02%	-65.55%
Debt-free Net Working Capital to Revenue	7.00%	-0.05%	7.91%	-76.99%	-25.77%	-23.36%	-14.28%	-13.46%	-12.99%	-27.82%	-55.54%
Net Working Capital to Revenue	7.00%	-0.05%	7.91%	-76.99%	-25.77%	-23.36%	-14.28%	-13.46%	-12.99%	-27.82%	-55.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.08)	$0.11	$0.11	$0.09	$0.10	$0.15	$0.35	$0.34	$0.19	$0.18	$0.27
Adjusted Weighted Average Basic Shares Outstanding	21.43M	30.65M	39.61M	53.51M	68.77M	78.22M	84.04M	90.61M	94.26M	103.44M	44.92M
Adjusted Diluted Earnings per Share	($0.08)	$0.10	$0.10	$0.08	$0.10	$0.15	$0.35	$0.34	$0.19	$0.18	$0.27
Adjusted Weighted Average Diluted Shares Outstanding	21.43M	32.37M	41.56M	54.93M	69.21M	78.79M	84.62M	90.95M	94.56M	103.76M	45.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.17M	36.87M	44.97M	60.90M	75.05M	82.13M	90.15M	90.82M	102.35M	107.97M	46.32M
Normalized Net Operating Profit after Tax (NOPAT)	5.33	11	17	22	26	67	51	51	46	55	60
Normalized NOPAT Margin	7.46%	10.35%	13.00%	13.57%	11.74%	28.19%	18.58%	17.38%	16.18%	18.23%	17.74%
Pre Tax Income Margin	-0.35%	5.25%	4.12%	4.15%	3.71%	24.50%	12.26%	10.96%	5.42%	4.81%	2.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-400.07%	733.02%	912.60%	990.48%	995.79%	678.21%	294.47%	307.00%	533.61%	563.27%	697.72%
Augmented Payout Ratio	-436.60%	733.02%	912.60%	990.48%	995.79%	678.21%	298.81%	307.38%	533.61%	563.27%	697.72%

This table displays calculated financial ratios and metrics derived from Easterly Government Properties' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	46,318,716.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	46,318,716.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.03
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.03%	-3.04%	2.22%	6.79%	3.84%	7.75%	8.07%	10.51%	15.20%	11.23%	16.36%
EBITDA Growth	4.76%	8.14%	8.42%	13.78%	12.22%	15.70%	15.13%	18.43%	10.97%	9.39%	10.92%
EBIT Growth	36.13%	43.09%	15.16%	16.21%	17.69%	24.95%	14.64%	14.68%	-5.17%	0.10%	0.39%
NOPAT Growth	94.47%	43.09%	15.16%	16.21%	17.69%	24.95%	14.64%	14.68%	-33.62%	0.91%	-29.72%
Net Income Growth	711.88%	-74.01%	10.65%	-16.06%	-15.89%	19.68%	-32.78%	-12.29%	-75.62%	-16.69%	-56.93%
EPS Growth	500.00%	-76.47%	0.00%	-20.00%	-16.67%	25.00%	-32.78%	-18.18%	-81.82%	-23.08%	-71.43%
Operating Cash Flow Growth	-3.90%	-20.87%	10.48%	52.34%	50.88%	40.03%	1.24%	-33.16%	171.04%	70.78%	13.02%
Free Cash Flow Firm Growth	227.50%	-105.43%	-115.70%	-139.14%	-145.62%	-2,849.76%	-935.26%	-214.58%	-93.20%	84.44%	71.30%
Invested Capital Growth	-9.13%	1.03%	1.71%	4.81%	5.76%	10.17%	10.79%	12.93%	9.50%	2.12%	3.10%
Revenue Q/Q Growth	0.90%	0.84%	0.25%	4.70%	-1.89%	4.64%	0.54%	7.07%	2.28%	1.03%	5.18%
EBITDA Q/Q Growth	3.07%	-0.41%	4.37%	6.20%	1.65%	2.68%	4.54%	7.87%	-4.16%	1.62%	5.58%
EBIT Q/Q Growth	4.63%	0.62%	2.49%	7.70%	5.96%	6.83%	-5.97%	7.74%	-12.38%	13.68%	-6.45%
NOPAT Q/Q Growth	4.63%	0.62%	2.49%	7.70%	5.96%	6.83%	-5.97%	7.74%	-38.67%	62.40%	-34.52%
Net Income Q/Q Growth	5.24%	-21.28%	2.03%	-0.70%	5.46%	12.00%	-42.70%	29.58%	-70.69%	282.76%	-70.38%
EPS Q/Q Growth	20.00%	-33.33%	0.00%	0.00%	25.00%	0.00%	-42.70%	28.57%	-77.78%	400.00%	-80.00%
Operating Cash Flow Q/Q Growth	1.25%	-53.73%	36.26%	138.65%	0.28%	-57.06%	-1.49%	57.57%	306.61%	-72.94%	-34.81%
Free Cash Flow Firm Q/Q Growth	3.98%	-103.00%	-207.09%	-307.90%	-21.20%	-94.30%	-7.78%	-23.95%	25.57%	84.35%	-98.86%
Invested Capital Q/Q Growth	-0.80%	2.73%	0.42%	2.42%	0.10%	7.02%	0.99%	4.39%	-2.94%	-0.20%	1.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.97%	75.63%	77.21%	76.23%	77.65%	76.06%	77.38%	77.19%	75.96%	77.28%	77.57%
EBITDA Margin	52.39%	51.74%	53.87%	54.64%	56.61%	55.55%	57.76%	58.19%	54.53%	54.85%	55.06%
Operating Margin	23.30%	23.25%	23.77%	24.45%	26.41%	26.96%	25.22%	25.37%	21.74%	24.46%	21.76%
EBIT Margin	23.30%	23.25%	23.77%	24.45%	26.41%	26.96%	25.22%	25.37%	21.74%	24.46%	21.76%
Profit (Net Income) Margin	8.44%	6.59%	6.71%	6.36%	6.84%	7.32%	4.17%	5.05%	1.45%	5.48%	1.54%
Tax Burden Percent	128.43%	138.55%	140.79%	139.65%	144.49%	141.63%	224.71%	176.22%	-403.56%	148.69%	-565.60%
Interest Burden Percent	28.22%	20.46%	20.05%	18.63%	17.93%	19.17%	7.36%	11.29%	-1.65%	15.08%	-1.26%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	2.75%	2.80%	2.88%	2.98%	3.26%	3.23%	3.06%	3.05%	1.93%	3.08%	1.96%
ROIC Less NNEP Spread (ROIC-NNEP)	1.71%	1.56%	1.60%	1.62%	1.79%	1.86%	1.61%	1.68%	0.94%	1.80%	1.02%
Return on Net Nonoperating Assets (RNNOA)	1.23%	1.08%	1.10%	1.17%	1.26%	1.49%	1.33%	1.52%	0.82%	1.69%	0.99%
Return on Equity (ROE)	3.98%	3.88%	3.98%	4.15%	4.52%	4.72%	4.38%	4.57%	2.74%	4.77%	2.95%
Cash Return on Invested Capital (CROIC)	12.00%	1.69%	1.11%	-1.81%	-2.57%	-6.63%	-7.11%	-9.02%	-5.93%	0.95%	-0.06%
Operating Return on Assets (OROA)	2.33%	2.34%	2.38%	2.47%	2.64%	2.67%	2.52%	2.52%	2.19%	2.49%	2.29%
Return on Assets (ROA)	0.84%	0.66%	0.67%	0.64%	0.68%	0.72%	0.42%	0.50%	0.15%	0.56%	0.16%
Return on Common Equity (ROCE)	3.52%	3.53%	3.64%	3.81%	4.15%	4.47%	4.17%	4.37%	2.63%	4.57%	2.83%
Return on Equity Simple (ROE_SIMPLE)	2.73%	0.00%	1.63%	1.58%	1.49%	0.00%	1.42%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	17	17	17	19	20	21	20	21	13	21	14
NOPAT Margin	23.30%	23.25%	23.77%	24.45%	26.41%	26.96%	25.22%	25.37%	15.22%	24.46%	15.23%
Net Nonoperating Expense Percent (NNEP)	1.04%	1.24%	1.28%	1.36%	1.47%	1.37%	1.45%	1.37%	0.99%	1.28%	0.94%
Return On Investment Capital (ROIC_SIMPLE)	-	0.62%	-	-	-	0.71%	0.66%	0.69%	0.43%	0.70%	0.45%
Cost of Revenue to Revenue	26.03%	24.37%	22.79%	23.77%	22.35%	23.94%	22.62%	22.81%	24.05%	22.72%	22.43%
SG&A Expenses to Revenue	8.48%	9.22%	8.87%	9.35%	6.24%	7.92%	7.90%	8.08%	6.74%	8.28%	9.28%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.67%	52.37%	53.44%	51.78%	51.25%	49.10%	52.16%	51.82%	54.22%	52.82%	55.81%
Earnings before Interest and Taxes (EBIT)	17	17	17	19	20	21	20	21	19	21	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	38	38	39	42	42	43	45	49	47	48	50
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.77	0.89	0.80	0.96	1.06	0.91	0.86	0.75	0.78	0.74	0.76
Price to Tangible Book Value (P/TBV)	0.87	1.00	0.89	1.08	1.20	1.04	0.97	0.87	0.91	0.86	0.89
Price to Revenue (P/Rev)	3.38	4.09	3.64	4.26	4.72	3.97	3.72	3.16	3.18	2.91	2.84
Price to Earnings (P/E)	36.65	62.48	53.80	65.62	75.49	61.39	63.39	56.92	75.01	75.14	88.30
Dividend Yield	12.65%	8.59%	9.60%	8.74%	9.76%	9.33%	4.00%	10.98%	9.70%	12.62%	8.40%
Earnings Yield	2.73%	1.60%	1.86%	1.52%	1.32%	1.63%	1.58%	1.76%	1.33%	1.33%	1.13%
Enterprise Value to Invested Capital (EV/IC)	0.87	0.94	0.89	0.98	1.05	0.95	0.93	0.88	0.89	0.87	0.89
Enterprise Value to Revenue (EV/Rev)	7.05	7.84	7.41	8.21	8.72	8.35	8.05	7.75	7.36	7.00	6.98
Enterprise Value to EBITDA (EV/EBITDA)	14.14	15.20	14.16	15.44	16.08	15.11	14.34	13.56	13.02	12.43	12.54
Enterprise Value to EBIT (EV/EBIT)	34.23	34.77	31.94	34.64	35.62	32.76	31.18	29.76	29.67	28.95	29.94
Enterprise Value to NOPAT (EV/NOPAT)	34.23	34.77	31.94	34.64	35.62	32.83	31.25	29.83	29.73	28.95	29.94
Enterprise Value to Operating Cash Flow (EV/OCF)	17.14	19.66	18.33	17.68	16.61	15.50	15.21	16.99	9.96	9.07	9.28
Enterprise Value to Free Cash Flow (EV/FCFF)	6.94	55.85	80.69	0.00	0.00	0.00	0.00	0.00	0.00	92.92	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.85	0.92	0.98	1.02	1.07	1.15	1.14	1.24	1.18	1.22	1.26
Long-Term Debt to Equity	0.85	0.92	0.98	1.02	1.07	1.15	1.14	1.24	1.18	1.22	1.26
Financial Leverage	0.72	0.69	0.69	0.72	0.70	0.80	0.82	0.90	0.87	0.94	0.97
Leverage Ratio	2.03	2.02	2.04	2.08	2.10	2.18	2.21	2.30	2.34	2.40	2.41
Compound Leverage Factor	0.57	0.41	0.41	0.39	0.38	0.42	0.16	0.26	-0.04	0.36	-0.03
Debt to Total Capital	45.88%	47.88%	49.47%	50.51%	51.63%	53.55%	53.38%	55.41%	54.20%	54.89%	55.81%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	45.88%	47.88%	49.47%	50.51%	51.63%	53.55%	53.38%	55.41%	54.20%	54.89%	55.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	6.20%	3.23%	2.52%	2.44%	2.33%	2.21%	2.16%	1.68%	1.70%	1.53%	1.52%
Common Equity to Total Capital	47.92%	48.89%	48.00%	47.05%	46.05%	44.24%	44.46%	42.91%	44.10%	43.58%	42.67%
Debt to EBITDA	8.43	8.74	8.99	8.97	9.17	9.58	9.27	9.55	8.85	8.81	8.82
Net Debt to EBITDA	6.23	6.68	6.75	7.00	6.96	7.52	7.34	7.75	7.12	7.02	7.19
Long-Term Debt to EBITDA	8.43	8.74	8.99	8.97	9.17	9.58	9.27	9.55	8.85	8.81	8.82
Debt to NOPAT	20.40	20.00	20.28	20.13	20.32	20.82	20.19	21.00	20.22	20.51	21.05
Net Debt to NOPAT	15.07	15.27	15.22	15.71	15.42	16.34	16.00	17.04	16.27	16.35	17.16
Long-Term Debt to NOPAT	20.40	20.00	20.28	20.13	20.32	20.82	20.19	21.00	20.22	20.51	21.05
Altman Z-Score	0.31	0.36	0.29	0.32	0.33	0.24	0.21	0.14	0.10	0.08	0.08
Noncontrolling Interest Sharing Ratio	11.58%	8.98%	8.37%	8.34%	8.20%	5.48%	4.81%	4.34%	4.26%	4.08%	4.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.83	0.77	0.96	0.70	0.65	0.62	0.65	0.62	0.41	0.43	0.42
Quick Ratio	0.51	0.46	0.63	0.41	0.43	0.41	0.38	0.34	0.21	0.23	0.22
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	251	-7.55	-23	-95	-115	-223	-240	-297	-221	-35	-69
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.11
Accounts Receivable Turnover	4.77	4.59	4.40	4.44	4.51	4.40	4.29	4.31	4.81	5.48	4.86
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.12	0.00	0.00	0.13	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	1.01	0.98	0.89	0.83	0.73	0.77	0.76	0.65	0.65	0.73	0.80
Days Sales Outstanding (DSO)	76.51	79.49	83.05	82.12	80.90	83.05	85.12	84.79	75.87	66.61	75.08
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	362.47	374.17	409.25	437.36	500.48	472.13	477.75	557.38	561.75	496.80	453.48
Cash Conversion Cycle (CCC)	-285.96	-294.68	-326.20	-355.24	-419.59	-389.08	-392.63	-472.60	-485.88	-430.19	-378.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,334	2,398	2,408	2,466	2,468	2,642	2,668	2,785	2,703	2,698	2,750
Invested Capital Turnover	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.13	0.13	0.13
Increase / (Decrease) in Invested Capital	-234	24	40	113	134	244	260	319	234	56	83
Enterprise Value (EV)	2,042	2,250	2,140	2,411	2,585	2,521	2,478	2,447	2,409	2,351	2,434
Market Capitalization	979	1,175	1,051	1,250	1,399	1,200	1,144	997	1,040	977	993
Book Value per Share	$13.60	$13.89	$12.93	$12.67	$12.76	$12.50	$12.35	$29.71	$29.40	$28.70	$28.26
Tangible Book Value per Share	$12.10	$12.33	$11.53	$11.24	$11.35	$10.97	$10.91	$25.53	$25.20	$24.71	$24.17
Total Capital	2,652	2,704	2,747	2,773	2,856	2,986	3,000	3,109	3,024	3,036	3,067
Total Debt	1,217	1,295	1,359	1,401	1,475	1,599	1,601	1,723	1,639	1,666	1,712
Total Long-Term Debt	1,217	1,295	1,359	1,401	1,475	1,599	1,601	1,723	1,639	1,666	1,712
Net Debt	899	988	1,020	1,094	1,119	1,254	1,269	1,398	1,318	1,328	1,395
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-60	-59	-64	-91	-122	-112	-90	-102	-216	-220	-208
Debt-free Net Working Capital (DFNWC)	-27	-37	-7.70	-64	-83	-84	-73	-88	-202	-187	-195
Net Working Capital (NWC)	-27	-37	-7.70	-64	-83	-84	-73	-88	-202	-187	-195
Net Nonoperating Expense (NNE)	11	12	12	14	15	15	17	17	12	17	13
Net Nonoperating Obligations (NNO)	899	988	1,020	1,094	1,087	1,254	1,269	1,398	1,318	1,328	1,395
Total Depreciation and Amortization (D&A)	21	21	22	23	23	22	26	28	28	26	30
Debt-free, Cash-free Net Working Capital to Revenue	-20.89%	-20.63%	-22.09%	-30.94%	-41.22%	-37.02%	-29.23%	-32.21%	-66.10%	-65.55%	-59.51%
Debt-free Net Working Capital to Revenue	-9.33%	-12.99%	-2.67%	-21.66%	-27.99%	-27.82%	-23.55%	-27.76%	-61.76%	-55.54%	-55.88%
Net Working Capital to Revenue	-9.33%	-12.99%	-2.67%	-21.66%	-27.99%	-27.82%	-23.55%	-27.76%	-61.76%	-55.54%	-55.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.04	$0.04	$0.04	$0.05	$0.05	$0.07	$0.09	$0.02	$0.10	$0.02
Adjusted Weighted Average Basic Shares Outstanding	93.54M	94.26M	101.99M	102.91M	103.52M	103.44M	43.22M	45.01M	45.34M	44.92M	46.26M
Adjusted Diluted Earnings per Share	$0.06	$0.04	$0.04	$0.04	$0.05	$0.05	$0.07	$0.09	$0.02	$0.10	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	93.85M	94.56M	102.24M	103.20M	103.90M	103.76M	43.37M	45.11M	45.49M	45.06M	46.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.10	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	95.20M	102.35M	103.00M	103.03M	105.67M	107.97M	44.91M	45.35M	46.11M	46.32M	46.45M
Normalized Net Operating Profit after Tax (NOPAT)	12	12	12	13	14	15	14	15	15	15	14
Normalized NOPAT Margin	16.62%	16.70%	17.04%	17.49%	19.05%	19.28%	17.92%	18.06%	17.52%	17.49%	15.73%
Pre Tax Income Margin	6.58%	4.76%	4.77%	4.56%	4.73%	5.17%	1.86%	2.87%	-0.36%	3.69%	-0.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	320.40%	533.61%	527.64%	554.74%	585.60%	563.27%	618.98%	598.08%	705.63%	697.72%	737.17%
Augmented Payout Ratio	320.40%	533.61%	527.64%	554.74%	585.60%	563.27%	618.98%	598.08%	705.63%	697.72%	737.17%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Easterly Government Properties (NYSE: DEA) based on the quarterly statements from 2022 through 2025. The focus is on trends across income statements, cash flows, and balance sheets over the last four years.

Revenue growth in 2025: Operating revenue rose to $87.0 million in Q4 2025, about 11% higher year-over-year than Q4 2024 (and 2025 quarterly results-trending higher vs earlier 2025 quarters).
Gross margin remains healthy: Total gross profit margin has hovered in the mid-to-high 70s percent range across 2022–2025 (gross profit of $67.3M on $87.0M revenue in Q4 2025), signaling stable profitability.
Strong operating cash flow in 2025: Net cash from continuing operating activities runs around $38–$41 million per quarter in 2025, reflecting solid cash generation from core operations.
Positive near-term free cash flow in the latest quarter: In Q4 2025, free cash flow (operating cash flow minus investing cash outflows) was positive, roughly $12.8 million for the quarter.
Per-share earnings trend improving in 2025: Diluted earnings per share (EPS) progressed toward $0.10 in Q4 2025, up from prior 2025 quarters, indicating improving profitability per share.
Dividend per share maintained at a solid level: Cash dividends per share were $0.48 in Q4 2025, signaling continued dividend policy even as results grow.

Balance sheet expansion and leverage nuance: Total assets rose to about $3.38 billion by 2025 Q3, with long-term debt around $1.64 billion, suggesting portfolio growth accompanied by higher leverage.
Capital access and financing activity: Q4 2025 included a debt issuance of $42.65 million and positive net financing cash flow, indicating access to capital markets to support growth and liquidity.

Interest burden remains a headwind: Interest & investment income was negative by about $18.1 million in Q4 2025, which compresses pretax income and overall profitability.
Investing cash outflows remain sizable: 2025 saw substantial investing outflows, with notable outflows such as approximately $65.6 million in Q3 2025 and around $27.7 million in Q4 2025, contributing to negative free cash flow in multiple quarters.

05/19/26 07:29 AM ETAI Generated. May Contain Errors.

Easterly Government Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Easterly Government Properties' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Easterly Government Properties' net income appears to be on an upward trend, with a most recent value of $13.56 million in 2025, falling from -$5.37 million in 2015. The previous period was $20.58 million in 2024. Check out Easterly Government Properties' forecast to explore projected trends and price targets.

Easterly Government Properties' total operating income in 2025 was $81.23 million, based on the following breakdown:

Total Gross Profit: $258.60 million
Total Operating Expenses: $177.37 million

Over the last 10 years, Easterly Government Properties' total revenue changed from $71.38 million in 2015 to $336.10 million in 2025, a change of 370.9%.

Easterly Government Properties' total liabilities were at $2.01 billion at the end of 2025, a 9.5% increase from 2024, and a 588.1% increase since 2015.

In the past 10 years, Easterly Government Properties' cash and equivalents has ranged from $4.85 million in 2016 to $23.37 million in 2025, and is currently $23.37 million as of their latest financial filing in 2025.

Over the last 10 years, Easterly Government Properties' book value per share changed from 15.61 in 2015 to 28.70 in 2025, a change of 83.8%.

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Financial statements for NYSE:DEA last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Easterly Government Properties (DEA) Financials

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Easterly Government Properties (DEA) Financials

Annual Income Statements for Easterly Government Properties

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Quarterly Cash Flow Statements for Easterly Government Properties

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Easterly Government Properties Financials - Frequently Asked Questions

When does Easterly Government Properties' financial year end?

How has Easterly Government Properties' net income changed over the last 10 years?

What is Easterly Government Properties' operating income?

How has Easterly Government Properties' revenue changed over the last 10 years?

How much debt does Easterly Government Properties have?

How much cash does Easterly Government Properties have?

How has Easterly Government Properties' book value per share changed over the last 10 years?

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