Empire State Realty Trust (ESRT) Financials

$7.60 -0.04 (-0.52%)

Closing price 05/20/2025 03:59 PM Eastern

Extended Trading

$7.56 -0.04 (-0.59%)

As of 08:12 AM Eastern

Annual Income Statements for Empire State Realty Trust

This table shows Empire State Realty Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	47	49	36	-11	-17	49	66	63	51	34	27
Consolidated Net Income / (Loss)	80	84	63	-13	-23	84	117	118	107	80	70
Net Income / (Loss) Continuing Operations	80	84	63	-13	-23	84	117	118	107	80	70
Total Pre-Tax Income	83	87	65	-15	-30	87	122	125	113	84	75
Total Revenue	789	755	732	514	512	663	663	642	526	592	569
Net Interest Income / (Expense)	21	15	4.95	-94	-87	-68	-69	-66	-70	-66	-66
Total Interest Income	21	15	4.95	0.70	2.64	11	11	2.94	0.65	0.00	0.00
Investment Securities Interest Income	21	15	4.95	0.70	2.64	11	11	2.94	0.65	-	-
Total Interest Expense	0.00	0.00	0.00	94	90	79	80	68	71	66	66
Total Non-Interest Income	767	740	727	608	600	731	732	707	596	658	635
Other Service Charges	12	13	9.98	6.70	7.68	12	14	11	11	16	17
Net Realized & Unrealized Capital Gains on Investments	-0.55	0.00	0.00	-0.21	-0.09	0.00	0.00	-2.45	-	-	-
Other Non-Interest Income	756	727	717	601	592	720	718	698	585	641	619
Total Non-Interest Expense	600	566	566	529	542	577	541	517	412	506	494
Net Occupancy & Equipment Expense	9.33	9.33	9.33	9.33	9.33	9.33	9.33	9.33	163	168	154
Other Operating Expenses	236	226	216	183	200	211	195	183	94	163	153
Depreciation Expense	185	190	217	202	191	182	169	161	155	171	145
Other Special Charges	170	141	124	127	136	175	167	164	-	-	-
Nonoperating Income / (Expense), net	-105	-101	-101	-	-	-	-	-	-0.55	-1.75	-
Income Tax Expense	2.69	2.72	1.55	-1.73	-6.97	2.43	4.64	6.67	6.15	3.95	4.66
Preferred Stock Dividends Declared	4.20	4.20	4.20	4.20	4.20	1.74	0.94	0.94	0.94	0.94	0.48
Net Income / (Loss) Attributable to Noncontrolling Interest	29	31	23	-6.53	-10	33	51	55	55	45	43
Basic Earnings per Share	$0.29	$0.30	$0.22	($0.06)	($0.10)	$0.28	$0.39	$0.40	$0.38	$0.30	$0.27
Weighted Average Basic Shares Outstanding	164.90M	161.12M	165.04M	172.45M	175.17M	178.34M	167.57M	158.38M	133.88M	114.25M	97.94M
Diluted Earnings per Share	$0.28	$0.30	$0.22	($0.06)	($0.10)	$0.28	$0.39	$0.39	$0.38	$0.29	$0.27
Weighted Average Diluted Shares Outstanding	269.02M	265.63M	269.95M	277.42M	283.84M	297.80M	297.26M	298.05M	277.57M	266.62M	254.51M
Weighted Average Basic & Diluted Shares Outstanding	167.71M	164.07M	161.71M	170.13M	171.62M	183.18M	168.20M	156.60M	135.40M	112.40M	98.80M
Cash Dividends to Common per Share	$0.14	$0.14	$0.14	$0.11	$0.21	$0.42	$0.42	$0.42	$0.40	$0.34	$0.34

This table shows Empire State Realty Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	9.22	11	14	17	5.66	9.11	12	22	6.52	13	5.56
Consolidated Net Income / (Loss)	16	19	23	29	10	16	20	37	12	22	10
Net Income / (Loss) Continuing Operations	16	19	23	29	10	16	20	37	12	22	10
Total Pre-Tax Income	15	20	24	29	9.56	18	21	38	10	23	12
Total Revenue	184	254	180	195	160	223	196	194	142	280	160
Net Interest Income / (Expense)	3.79	58	-20	5.09	-21	30	4.46	3.34	-23	78	-24
Total Interest Income	3.79	5.07	6.96	5.09	4.18	4.74	4.46	3.34	2.60	2.80	1.56
Investment Securities Interest Income	3.79	5.07	6.96	5.09	4.18	4.74	4.46	3.34	2.60	2.80	1.56
Total Interest Expense	0.00	-53	27	0.00	25	-25	0.00	0.00	25	-76	26
Total Non-Interest Income	180	196	201	190	181	193	192	191	165	201	184
Other Service Charges	2.36	4.20	2.33	2.95	2.70	5.50	2.51	2.51	2.38	3.05	2.37
Net Realized & Unrealized Capital Gains on Investments	0.00	-1.26	1.26	0.00	-0.55	-	-	0.00	0.00	-	-
Other Non-Interest Income	178	193	197	187	178	187	189	188	162	198	181
Total Non-Interest Expense	142	129	156	165	150	129	149	156	131	156	148
Net Occupancy & Equipment Expense	2.33	2.33	2.33	2.33	2.33	-83	45	2.33	44	-79	45
Other Operating Expenses	58	35	60	84	57	32	57	82	55	76	56
Depreciation Expense	49	45	46	47	46	50	47	46	47	45	47
Other Special Charges	33	46	48	31	45	-	-	26	-16	-	-
Nonoperating Income / (Expense), net	-27	-	-	-	-	-	-25	-	-	-	-
Income Tax Expense	-0.62	1.15	1.44	0.75	-0.66	1.79	1.41	0.73	-1.22	1.32	1.46
Preferred Stock Dividends Declared	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05	1.05
Net Income / (Loss) Attributable to Noncontrolling Interest	5.51	6.58	8.21	10	3.50	5.74	7.21	14	4.17	7.70	3.56
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)	0.00	-	-	0.00	0.00	-	0.11	0.00	-0.04	-	-0.05
Basic Earnings per Share	$0.06	$0.08	$0.08	$0.10	$0.03	$0.05	$0.07	$0.14	$0.04	$0.08	$0.03
Weighted Average Basic Shares Outstanding	167.18M	164.90M	164.88M	164.28M	163.49M	161.12M	161.85M	160.03M	161.34M	165.04M	162.17M
Diluted Earnings per Share	$0.05	$0.07	$0.08	$0.10	$0.03	$0.05	$0.07	$0.14	$0.04	$0.08	$0.03
Weighted Average Diluted Shares Outstanding	269.53M	269.02M	269.61M	268.72M	267.49M	265.63M	266.07M	264.20M	265.20M	269.95M	267.12M
Weighted Average Basic & Diluted Shares Outstanding	168.49M	167.71M	166.76M	-	165.02M	164.07M	162.48M	161.10M	160.39M	161.71M	161.42M
Cash Dividends to Common per Share	$0.04	-	$0.04	$0.04	$0.04	-	$0.04	$0.04	$0.04	-	$0.04

This table details how cash moves in and out of Empire State Realty Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	22	92	-160	-93	296	0.78	-259	-86	503	0.95	-15
Net Cash From Operating Activities	261	232	211	212	182	233	279	194	215	203	139
Net Cash From Continuing Operating Activities	261	232	211	212	182	233	279	194	215	203	139
Net Income / (Loss) Continuing Operations	80	84	63	-13	-23	84	117	118	107	80	70
Consolidated Net Income / (Loss)	80	84	63	-13	-23	84	117	118	107	80	70
Depreciation Expense	185	190	217	202	191	182	169	161	155	171	145
Amortization Expense	14	15	13	13	14	7.85	8.93	3.15	-0.23	-9.71	-5.54
Non-Cash Adjustments to Reconcile Net Income	-2.34	-26	-38	7.12	6.27	-11	7.40	-26	-20	-14	-36
Changes in Operating Assets and Liabilities, net	-16	-30	-44	3.80	-5.78	-30	-23	-62	-28	-25	-36
Net Cash From Investing Activities	-397	-77	-231	-213	-143	150	-643	-223	-182	-142	-299
Net Cash From Continuing Investing Activities	-397	-77	-231	-213	-143	150	-643	-223	-182	-142	-299
Purchase of Property, Leasehold Improvements and Equipment	-173	-139	-126	-95	-143	-250	-243	-223	-182	-142	-121
Purchase of Investment Securities	-207	-27	-116	-118	0.00	-	-400	0.00	0.00	-	-187
Sale of Property, Leasehold Improvements and Equipment	-4.03	0.00	0.00	-	-	-	-	-	-	-	-
Sale and/or Maturity of Investments	0.00	89	11	0.00	0.00	400	-	0.00	-	-	-
Other Investing Activities, net	-13	0.00	0.00	-	-	-	-	-0.03	-0.45	-0.63	8.82
Net Cash From Financing Activities	159	-63	-140	-93	257	-382	105	-57	471	-60	145
Net Cash From Continuing Financing Activities	159	-63	-140	-93	257	-382	105	-57	471	-60	145
Issuance of Debt	440	0.00	0.00	-	1,080	0.00	495	695	100	1,270	877
Repayment of Debt	-227	-8.63	-7.50	-4.09	-604	-254	-269	-612	-122	-1,232	-639
Repurchase of Common Equity	0.00	-13	-90	-47	-144	0.00	0.00	-	-	-	-
Payment of Dividends	-42	-41	-43	-33	-65	-128	-127	-127	-115	-92	-88
Other Financing Activities, Net	-12	0.19	0.22	-9.49	-10	0.00	-	-13	-3.01	-6.10	-4.48
Cash Interest Paid	95	92	91	78	75	78	76	67	69	65	61
Cash Income Taxes Paid	1.90	1.39	0.20	0.64	1.28	1.77	4.85	5.78	6.24	4.47	3.69

This table details how cash moves in and out of Empire State Realty Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-192	-41	-107	191	-22	-14	25	15	66	-125	27
Net Cash From Operating Activities	83	50	103	37	71	36	90	20	86	37	90
Net Cash From Continuing Operating Activities	83	50	103	37	71	36	90	20	86	37	90
Net Income / (Loss) Continuing Operations	16	19	23	29	10	16	20	37	12	22	10
Consolidated Net Income / (Loss)	16	19	23	29	10	16	20	37	12	22	10
Depreciation Expense	49	45	46	47	46	50	47	46	47	45	47
Amortization Expense	3.34	3.41	3.70	3.66	3.52	3.76	3.69	3.57	3.49	3.62	3.63
Non-Cash Adjustments to Reconcile Net Income	-13	0.83	2.21	-6.32	0.94	5.66	-0.03	-20	-12	-7.44	-1.97
Changes in Operating Assets and Liabilities, net	29	-18	28	-36	10	-38	20	-47	36	-25	32
Net Cash From Investing Activities	-42	-79	-191	-56	-71	-38	-52	15	-2.63	-142	-32
Net Cash From Continuing Investing Activities	-42	-79	-191	-56	-71	-38	-52	15	-2.63	-142	-32
Purchase of Property, Leasehold Improvements and Equipment	-42	-29	-47	-44	-53	-38	-25	-34	-42	-37	-32
Purchase of Investment Securities	0.00	-50	-143	-	-14	-0.01	-27	0.01	-0.01	-116	-
Sale of Property, Leasehold Improvements and Equipment	0.00	-	-	-	-4.03	-	-	-	0.00	-	-
Net Cash From Financing Activities	-233	-12	-19	211	-21	-12	-13	-20	-18	-21	-31
Net Cash From Continuing Financing Activities	-233	-12	-19	211	-21	-12	-13	-20	-18	-21	-31
Issuance of Debt	0.00	-	-	225	215	-	-	-	0.00	-	-
Repayment of Debt	-221	-1.35	-7.55	-1.49	-216	-1.95	-2.42	-2.13	-2.14	-2.34	-2.04
Payment of Dividends	-11	-11	-11	-11	-11	-11	-11	-11	-9.74	-11	-11
Other Financing Activities, Net	-1.30	-	-0.43	-2.36	-9.28	-	0.08	0.11	0.00	-	-
Cash Interest Paid	20	30	22	21	22	22	24	23	23	23	27
Cash Income Taxes Paid	1.22	0.37	0.27	0.78	0.48	0.81	0.17	0.12	0.28	0.01	-0.08

This table presents Empire State Realty Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	4,510	4,219	4,164	4,282	4,151	4,196	3,931	3,891	3,301	3,283
Cash and Due from Banks	385	347	264	424	527	205	464	554	47	46
Restricted Cash	44	60	50	51	41	66	66	62	66	60
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	2,512	2,405	2,414	2,428	2,192	2,137	2,011	1,902	1,811	1,762
Deferred Acquisition Cost	184	172	188	202	204	241	263	277	311	357
Goodwill	491	491	491	491	491	491	491	491	491	491
Other Assets	893	743	756	686	695	1,055	636	604	575	566
Total Liabilities & Shareholders' Equity	4,510	4,219	4,164	4,282	4,151	4,196	3,931	3,891	3,301	3,283
Total Liabilities	2,728	2,488	2,481	2,598	2,419	2,205	1,954	1,908	1,928	1,902
Non-Interest Bearing Deposits	25	35	25	29	30	58	47	47	49	40
Short-Term Debt	120	0.00	0.00	0.00	0.00	0.00	0.00	0.00	35	0.00
Long-Term Debt	2,158	2,241	2,246	2,310	2,137	1,919	1,689	1,612	1,597	1,599
Other Long-Term Liabilities	425	212	209	259	252	228	218	249	247	263
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Equity & Noncontrolling Interests	1,782	1,731	1,683	1,684	1,731	1,991	1,978	1,983	1,373	1,381
Total Preferred & Common Equity	1,031	986	954	998	1,055	1,238	1,168	1,154	525	469
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,031	986	954	998	1,055	1,238	1,167	1,154	524	468
Common Stock	1,080	1,063	1,057	1,153	1,149	1,204	1,128	1,106	469	407
Retained Earnings	-59	-83	-109	-134	-66	42	47	51	55	61
Accumulated Other Comprehensive Income / (Loss)	9.93	6.03	7.05	-21	-28	-8.85	-8.56	-2.79	-0.88	0.00
Noncontrolling Interest	751	746	729	686	676	753	809	829	848	912

This table presents Empire State Realty Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,114	4,437	4,433	4,191	4,217	4,185	4,157	4,201
Cash and Due from Banks	188	422	536	334	354	315	273	387
Restricted Cash	50	48	41	52	67	80	108	53
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Premises and Equipment, Net	2,518	2,426	2,297	2,414	2,402	2,385	2,390	2,378
Deferred Acquisition Cost	182	177	172	180	175	177	182	189
Goodwill	491	491	491	491	491	491	491	491
Other Assets	685	873	896	720	726	735	712	703
Total Liabilities & Shareholders' Equity	4,114	4,437	4,433	4,191	4,217	4,185	4,157	4,201
Total Liabilities	2,329	2,680	2,682	2,466	2,483	2,473	2,480	2,527
Non-Interest Bearing Deposits	27	25	24	25	39	40	35	28
Short-Term Debt	0.00	120	120	120	0.00	0.00	0.00	0.00
Long-Term Debt	2,058	2,159	2,166	2,119	2,242	2,243	2,245	2,277
Other Long-Term Liabilities	244	376	372	201	202	190	200	222
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,786	1,757	1,751	1,725	1,733	1,712	1,677	1,674
Total Preferred & Common Equity	1,032	1,015	1,011	996	987	966	948	952
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,032	1,015	1,011	996	987	966	948	951
Common Stock	1,081	1,074	1,070	1,068	1,060	1,049	1,054	1,060
Retained Earnings	-56	-64	-72	-83	-87	-92	-109	-116
Accumulated Other Comprehensive Income / (Loss)	6.73	5.75	13	12	13	9.28	3.34	6.67
Noncontrolling Interest	754	742	740	729	746	746	729	721

This table displays calculated financial ratios and metrics derived from Empire State Realty Trust's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.50%	3.10%	42.42%	0.29%	-22.75%	0.12%	3.27%	21.90%	-11.09%	4.05%	0.00%
EBITDA Growth	-1.43%	-0.68%	98.03%	14.30%	-36.69%	-7.74%	3.65%	7.38%	8.70%	15.20%	0.00%
EBIT Growth	-0.17%	13.64%	1,223.58%	50.53%	-134.43%	-28.86%	-2.43%	9.63%	33.08%	14.37%	0.00%
NOPAT Growth	-0.29%	12.79%	1,666.79%	50.53%	-124.80%	-28.11%	-0.85%	9.73%	32.08%	16.22%	0.00%
Net Income Growth	-4.80%	33.53%	584.87%	43.04%	-127.16%	-28.11%	-0.85%	10.26%	34.18%	13.84%	0.00%
EPS Growth	-6.67%	36.36%	466.67%	40.00%	-135.71%	-28.21%	0.00%	2.63%	31.03%	7.41%	0.00%
Operating Cash Flow Growth	12.22%	10.10%	-0.62%	16.56%	-21.63%	-16.64%	43.68%	-9.57%	5.69%	46.64%	0.00%
Free Cash Flow Firm Growth	-33.14%	-38.29%	265.94%	49.67%	-172.09%	399.09%	-368.85%	109.74%	-957.55%	0.00%	0.00%
Invested Capital Growth	2.22%	1.08%	-1.64%	3.28%	6.95%	-7.51%	6.64%	1.98%	19.64%	0.85%	0.00%
Revenue Q/Q Growth	20.19%	9.34%	24.33%	3.49%	-10.39%	-8.07%	-16.76%	82.09%	-11.58%	-0.14%	0.00%
EBITDA Q/Q Growth	49.55%	23.98%	45.51%	0.30%	-14.98%	-3.96%	5.86%	-0.47%	4.01%	2.68%	0.00%
EBIT Q/Q Growth	240.22%	60.07%	322.53%	5.92%	-944.22%	-11.40%	7.91%	-2.51%	13.53%	13.70%	0.00%
NOPAT Q/Q Growth	135.40%	102.59%	331.80%	5.92%	-508.16%	-11.60%	6.85%	-2.95%	15.13%	14.08%	0.00%
Net Income Q/Q Growth	3.83%	-6.42%	68.48%	-57.97%	-546.96%	-11.60%	6.85%	-0.63%	14.57%	11.75%	0.00%
EPS Q/Q Growth	7.69%	-9.09%	69.23%	-20.00%	0.00%	-9.68%	5.41%	0.00%	15.15%	11.54%	0.00%
Operating Cash Flow Q/Q Growth	5.49%	-0.32%	-3.77%	14.38%	-7.83%	-19.79%	34.94%	-14.65%	4.43%	3.39%	0.00%
Free Cash Flow Firm Q/Q Growth	466.26%	111.31%	451.34%	10.17%	-193.62%	-4.09%	49.65%	-67.14%	-1.96%	0.00%	0.00%
Invested Capital Q/Q Growth	0.60%	-0.09%	-0.56%	3.78%	4.33%	0.19%	0.05%	3.35%	0.74%	0.10%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	49.12%	52.08%	54.06%	38.88%	34.12%	41.63%	45.18%	45.01%	51.10%	41.80%	37.75%
EBIT Margin	23.87%	24.99%	22.67%	-2.87%	-5.83%	13.07%	18.40%	19.47%	21.65%	14.47%	13.16%
Profit (Net Income) Margin	10.19%	11.18%	8.64%	-2.54%	-4.47%	12.71%	17.70%	18.43%	20.38%	13.50%	12.34%
Tax Burden Percent	96.76%	96.88%	97.61%	88.26%	76.65%	97.20%	96.19%	94.66%	94.58%	95.29%	93.78%
Interest Burden Percent	44.11%	46.19%	39.02%	100.00%	100.00%	100.00%	100.00%	100.00%	99.52%	97.96%	100.00%
Effective Tax Rate	3.24%	3.12%	2.39%	0.00%	0.00%	2.80%	3.81%	5.34%	5.42%	4.71%	6.22%
Return on Invested Capital (ROIC)	4.54%	4.63%	4.09%	-0.26%	-0.56%	2.24%	3.10%	3.26%	3.27%	2.73%	2.36%
ROIC Less NNEP Spread (ROIC-NNEP)	0.03%	0.24%	-0.25%	-0.38%	-0.66%	2.24%	3.10%	3.26%	3.23%	2.62%	2.36%
Return on Net Nonoperating Assets (RNNOA)	0.04%	0.32%	-0.33%	-0.50%	-0.69%	2.04%	2.81%	2.71%	3.13%	3.08%	2.73%
Return on Equity (ROE)	4.57%	4.94%	3.75%	-0.76%	-1.24%	4.28%	5.91%	5.97%	6.39%	5.81%	5.08%
Cash Return on Invested Capital (CROIC)	2.34%	3.55%	5.74%	-3.49%	-7.28%	10.04%	-3.33%	1.29%	-14.62%	1.88%	0.00%
Operating Return on Assets (OROA)	4.31%	4.50%	3.93%	-0.35%	-0.74%	2.13%	3.00%	3.19%	3.17%	2.60%	2.60%
Return on Assets (ROA)	1.84%	2.01%	1.50%	-0.31%	-0.57%	2.07%	2.89%	3.02%	2.98%	2.43%	2.44%
Return on Common Equity (ROCE)	2.63%	2.81%	2.18%	-0.46%	-0.36%	1.35%	3.58%	3.50%	3.20%	2.09%	1.82%
Return on Equity Simple (ROE_SIMPLE)	7.80%	8.56%	6.62%	-1.31%	-2.17%	0.00%	9.47%	10.12%	9.29%	15.23%	14.98%
Net Operating Profit after Tax (NOPAT)	182	183	162	-10	-21	84	117	118	108	82	70
NOPAT Margin	23.10%	24.21%	22.13%	-2.01%	-4.08%	12.71%	17.70%	18.43%	20.48%	13.79%	12.34%
Net Nonoperating Expense Percent (NNEP)	4.51%	4.38%	4.34%	0.12%	0.10%	0.00%	0.00%	0.00%	0.03%	0.10%	0.00%
SG&A Expenses to Revenue	1.18%	1.24%	1.27%	1.81%	1.82%	1.41%	1.41%	1.45%	31.01%	28.92%	33.86%
Operating Expenses to Revenue	76.13%	75.01%	77.33%	102.87%	105.83%	86.93%	81.60%	80.53%	78.35%	85.53%	86.84%
Earnings before Interest and Taxes (EBIT)	188	189	166	-15	-30	87	122	125	114	86	75
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	387	393	396	200	175	276	299	289	269	247	215
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.67	1.58	1.10	1.48	1.44	1.90	1.79	2.46	2.33	3.44	3.18
Price to Tangible Book Value (P/TBV)	3.19	3.14	2.28	2.91	2.69	3.16	2.98	4.25	4.05	56.14	0.00
Price to Revenue (P/Rev)	2.18	2.06	1.44	2.87	2.96	3.51	3.35	4.47	5.10	3.04	2.61
Price to Earnings (P/E)	36.28	31.67	28.93	0.00	0.00	47.15	33.88	45.79	52.16	53.34	55.72
Dividend Yield	1.36%	1.46%	2.14%	1.24%	4.76%	3.26%	3.29%	2.34%	2.31%	2.24%	2.35%
Earnings Yield	2.76%	3.16%	3.46%	0.00%	0.00%	2.12%	2.95%	2.18%	1.92%	1.87%	1.79%
Enterprise Value to Invested Capital (EV/IC)	1.06	1.04	0.95	1.00	0.97	1.76	1.18	1.32	1.25	1.39	1.31
Enterprise Value to Revenue (EV/Rev)	5.48	5.48	5.07	7.77	7.34	9.60	6.98	7.54	8.57	7.04	6.84
Enterprise Value to EBITDA (EV/EBITDA)	11.15	10.51	9.39	19.99	21.52	23.05	15.45	16.75	16.77	16.84	18.12
Enterprise Value to EBIT (EV/EBIT)	22.95	21.91	22.38	0.00	0.00	73.42	37.93	38.72	39.57	48.67	51.97
Enterprise Value to NOPAT (EV/NOPAT)	23.72	22.61	22.93	0.00	0.00	75.53	39.43	40.90	41.84	51.07	55.42
Enterprise Value to Operating Cash Flow (EV/OCF)	16.56	17.77	17.59	18.80	20.64	27.37	16.57	24.90	21.00	20.51	28.08
Enterprise Value to Free Cash Flow (EV/FCFF)	46.04	29.44	16.33	0.00	0.00	16.85	0.00	102.93	0.00	74.09	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.28	1.29	1.33	1.37	1.23	0.86	0.96	0.85	0.81	1.19	1.16
Long-Term Debt to Equity	1.21	1.29	1.33	1.37	1.23	0.86	0.96	0.85	0.81	1.16	1.16
Financial Leverage	1.29	1.31	1.35	1.30	1.03	0.91	0.91	0.83	0.97	1.17	1.16
Leverage Ratio	2.48	2.46	2.51	2.47	2.20	2.06	2.05	1.98	2.14	2.39	2.42
Compound Leverage Factor	1.10	1.13	0.98	2.47	2.20	2.06	2.05	1.98	2.13	2.34	2.42
Debt to Total Capital	56.11%	56.41%	57.16%	57.84%	55.24%	46.14%	49.08%	46.06%	44.85%	54.32%	53.65%
Short-Term Debt to Total Capital	2.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.17%	0.00%
Long-Term Debt to Total Capital	53.15%	56.41%	57.16%	57.84%	55.24%	46.14%	49.08%	46.06%	44.85%	53.15%	53.65%
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	18.50%	18.77%	18.55%	17.18%	17.48%	72.95%	19.25%	22.08%	23.05%	28.22%	30.62%
Common Equity to Total Capital	25.39%	24.81%	24.29%	24.99%	27.28%	0.00%	31.67%	31.82%	32.10%	17.42%	15.69%
Debt to EBITDA	5.88	5.70	5.68	11.56	12.22	6.04	6.41	5.85	6.00	6.60	7.44
Net Debt to EBITDA	4.77	4.67	4.88	9.19	8.97	5.06	5.51	4.01	3.71	6.14	6.95
Long-Term Debt to EBITDA	5.57	5.70	5.68	11.56	12.22	6.04	6.41	5.85	6.00	6.46	7.44
Debt to NOPAT	12.50	12.26	13.86	-223.45	-102.22	19.80	16.37	14.28	14.96	20.01	22.77
Net Debt to NOPAT	10.15	10.03	11.92	-177.54	-75.05	16.57	14.06	9.80	9.25	18.63	21.26
Long-Term Debt to NOPAT	11.84	12.26	13.86	-223.45	-102.22	19.80	16.37	14.28	14.96	19.58	22.77
Noncontrolling Interest Sharing Ratio	42.61%	43.18%	42.02%	39.88%	71.32%	68.56%	39.40%	41.40%	50.00%	64.01%	64.28%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	94	140	227	-137	-272	378	-126	47	-482	56	0.00
Operating Cash Flow to CapEx	147.45%	166.87%	167.24%	223.58%	127.37%	92.94%	114.81%	87.09%	118.05%	143.41%	114.24%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-1.45	-3.03	4.77	-1.59	0.69	-6.83	0.86	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	2.25	2.03	2.94	3.50	2.84	3.04	3.09	2.09
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	1.24	0.44	-0.22	0.45	-0.42	0.47	0.94	0.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.18	0.18	0.17	0.12	0.13	0.16	0.16	0.16	0.15	0.18	0.20
Fixed Asset Turnover	0.32	0.31	0.30	0.22	0.23	0.30	0.32	0.33	0.28	0.33	0.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,060	3,972	3,929	3,995	3,868	3,616	3,910	3,666	3,595	3,005	2,980
Invested Capital Turnover	0.20	0.19	0.18	0.13	0.14	0.18	0.17	0.18	0.16	0.20	0.19
Increase / (Decrease) in Invested Capital	88	42	-65	127	251	-294	244	71	590	25	0.00
Enterprise Value (EV)	4,321	4,132	3,715	3,995	3,763	6,367	4,623	4,837	4,509	4,167	3,891
Market Capitalization	1,721	1,553	1,054	1,473	1,518	2,331	2,223	2,869	2,684	1,799	1,486
Book Value per Share	$6.18	$6.07	$5.91	$5.75	$6.14	$0.00	$7.12	$7.31	$7.44	$4.42	$4.56
Tangible Book Value per Share	$3.23	$3.04	$2.87	$2.92	$3.28	$0.00	$4.29	$4.23	$4.27	$0.27	($0.23)
Total Capital	4,060	3,972	3,929	3,995	3,868	3,616	3,910	3,666	3,595	3,005	2,980
Total Debt	2,278	2,241	2,246	2,310	2,137	1,669	1,919	1,689	1,612	1,632	1,599
Total Long-Term Debt	2,158	2,241	2,246	2,310	2,137	1,669	1,919	1,689	1,612	1,597	1,599
Net Debt	1,849	1,834	1,931	1,836	1,569	1,397	1,648	1,159	996	1,520	1,493
Capital Expenditures (CapEx)	177	139	126	95	143	250	243	223	182	142	121
Net Nonoperating Expense (NNE)	102	98	99	2.70	1.99	0.00	0.00	0.00	0.52	1.67	0.00
Net Nonoperating Obligations (NNO)	2,278	2,241	2,246	2,310	2,137	1,669	1,919	1,689	1,612	1,632	1,599
Total Depreciation and Amortization (D&A)	199	204	230	215	205	189	177	164	155	162	140
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.29	$0.00	$0.22	($0.06)	($0.10)	$0.28	$0.39	$0.40	$0.38	$0.30	$0.27
Adjusted Weighted Average Basic Shares Outstanding	164.90M	0.00	165.04M	172.45M	175.17M	178.34M	167.57M	158.38M	133.88M	114.25M	97.94M
Adjusted Diluted Earnings per Share	$0.28	$0.00	$0.22	($0.06)	($0.10)	$0.28	$0.39	$0.39	$0.38	$0.29	$0.27
Adjusted Weighted Average Diluted Shares Outstanding	269.02M	0.00	269.95M	277.42M	283.84M	297.80M	297.26M	298.05M	277.57M	266.62M	254.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.28	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	167.71M	0.00	161.71M	170.13M	171.62M	183.18M	176.08M	162.87M	156.55M	121.10M	110.11M
Normalized Net Operating Profit after Tax (NOPAT)	347	319	283	84	79	254	278	273	108	82	73
Normalized NOPAT Margin	44.00%	42.26%	38.66%	16.34%	15.37%	38.35%	42.00%	42.56%	20.50%	13.82%	12.90%
Pre Tax Income Margin	10.53%	11.54%	8.85%	-2.87%	-5.83%	13.07%	18.40%	19.47%	21.55%	14.17%	13.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	-0.16	-0.33	1.09	1.53	1.82	1.61	1.30	1.13
NOPAT to Interest Expense	0.00	0.00	0.00	-0.11	-0.23	1.06	1.47	1.73	1.53	1.24	1.06
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	-1.16	-1.92	-2.06	-1.52	-1.43	-0.96	-0.85	-0.70
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	-1.12	-1.82	-2.09	-1.58	-1.53	-1.05	-0.91	-0.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	52.88%	48.96%	67.69%	-251.32%	-284.18%	151.57%	107.92%	107.37%	107.15%	114.93%	124.98%
Augmented Payout Ratio	52.88%	64.48%	210.34%	-609.56%	-912.05%	151.57%	107.92%	107.37%	107.15%	114.93%	124.98%

This table displays calculated financial ratios and metrics derived from Empire State Realty Trust's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.52%	13.91%	-7.95%	0.39%	12.52%	-20.29%	22.68%	25.45%	2.84%	105.02%	22.55%
EBITDA Growth	11.77%	18.27%	-23.90%	-8.11%	-3.61%	-14.62%	56.04%	-10.88%	-2.66%	255.26%	11.19%
EBIT Growth	21.36%	33.57%	-48.12%	-22.24%	-8.74%	-24.51%	303.62%	-23.18%	155.67%	4,993.50%	213.89%
NOPAT Growth	18.22%	18.72%	-47.76%	-22.73%	-12.65%	-26.78%	331.25%	-24.11%	188.78%	1,317.41%	242.22%
Net Income Growth	54.46%	18.72%	14.39%	-22.73%	-12.65%	-26.78%	96.96%	-24.11%	167.91%	630.68%	199.36%
EPS Growth	66.67%	40.00%	14.29%	-28.57%	-25.00%	-37.50%	133.33%	-22.22%	157.14%	900.00%	175.00%
Operating Cash Flow Growth	17.23%	37.29%	14.05%	89.96%	-17.87%	-2.00%	-0.18%	22.26%	27.58%	-18.19%	8.41%
Free Cash Flow Firm Growth	3,531.55%	-162.11%	-291.44%	-299.57%	-151.69%	-130.47%	121.56%	198.86%	101.54%	167.76%	38.04%
Invested Capital Growth	-3.03%	2.22%	1.53%	2.07%	1.07%	1.08%	0.60%	0.26%	-1.25%	-1.64%	2.66%
Revenue Q/Q Growth	-27.60%	40.76%	-7.31%	21.89%	-7.29%	13.74%	1.09%	36.62%	-10.43%	75.06%	3.37%
EBITDA Q/Q Growth	-45.84%	135.60%	-8.21%	35.96%	-16.65%	51.59%	10.85%	42.62%	-13.63%	177.03%	-36.69%
EBIT Q/Q Growth	-66.37%	416.47%	-17.29%	206.54%	-45.75%	100.61%	23.96%	259.79%	-54.34%	972.55%	-76.41%
NOPAT Q/Q Growth	133.15%	-17.56%	-20.17%	179.54%	-35.47%	-63.72%	18.07%	216.02%	-45.91%	113.68%	-79.22%
Net Income Q/Q Growth	-16.04%	-17.56%	-20.17%	179.54%	-35.47%	-20.56%	-46.08%	216.02%	-45.91%	113.68%	-79.22%
EPS Q/Q Growth	-28.57%	-12.50%	-20.00%	233.33%	-40.00%	-28.57%	-50.00%	250.00%	-50.00%	166.67%	-83.33%
Operating Cash Flow Q/Q Growth	66.19%	-51.34%	176.94%	-47.66%	94.62%	-59.57%	361.25%	-77.37%	132.23%	-58.82%	464.95%
Free Cash Flow Firm Q/Q Growth	335.48%	-82.89%	28.82%	-68.93%	-19.18%	-233.58%	-25.79%	-56.24%	-29.76%	194.51%	-240.32%
Invested Capital Q/Q Growth	-5.33%	0.60%	-0.03%	1.85%	-0.20%	-0.09%	0.51%	0.85%	-0.19%	-0.56%	0.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	51.24%	68.50%	40.93%	41.33%	37.05%	65.98%	49.51%	45.15%	43.25%	61.59%	38.92%
EBIT Margin	22.90%	49.30%	13.43%	15.06%	5.99%	42.04%	23.84%	19.44%	7.38%	44.39%	7.25%
Profit (Net Income) Margin	8.58%	7.40%	12.64%	14.67%	6.40%	7.10%	10.17%	19.06%	8.24%	7.73%	6.33%
Tax Burden Percent	104.08%	94.23%	94.05%	97.44%	106.85%	89.83%	93.40%	98.06%	111.64%	94.24%	87.41%
Interest Burden Percent	36.01%	15.93%	100.00%	100.00%	100.00%	18.80%	45.67%	100.00%	100.00%	18.48%	100.00%
Effective Tax Rate	-4.08%	5.77%	5.95%	2.56%	-6.85%	10.17%	6.60%	1.94%	-11.64%	5.76%	12.59%
Return on Invested Capital (ROIC)	4.81%	1.45%	2.07%	2.47%	1.09%	1.36%	3.88%	3.16%	1.28%	1.43%	0.96%
ROIC Less NNEP Spread (ROIC-NNEP)	3.50%	1.45%	2.07%	2.47%	1.09%	1.36%	2.83%	3.16%	1.28%	1.43%	0.96%
Return on Net Nonoperating Assets (RNNOA)	4.29%	1.87%	2.68%	3.23%	1.44%	1.78%	3.75%	4.23%	1.75%	1.93%	1.25%
Return on Equity (ROE)	9.10%	3.32%	4.75%	5.69%	2.52%	3.14%	7.63%	7.38%	3.03%	3.36%	2.20%
Cash Return on Invested Capital (CROIC)	7.93%	2.34%	0.41%	-0.19%	1.04%	3.55%	1.68%	1.78%	3.59%	5.74%	-1.66%
Operating Return on Assets (OROA)	4.34%	8.91%	2.04%	2.35%	0.96%	7.57%	3.91%	3.03%	1.08%	7.69%	1.03%
Return on Assets (ROA)	1.63%	1.34%	1.92%	2.29%	1.03%	1.28%	1.67%	2.97%	1.21%	1.34%	0.90%
Return on Common Equity (ROCE)	5.26%	1.91%	2.72%	3.25%	1.44%	1.78%	4.34%	4.20%	1.75%	1.95%	1.29%
Return on Equity Simple (ROE_SIMPLE)	8.33%	0.00%	7.62%	7.37%	8.33%	0.00%	9.14%	8.32%	9.72%	0.00%	3.94%
Net Operating Profit after Tax (NOPAT)	44	19	23	29	10	16	44	37	12	22	10
NOPAT Margin	23.83%	7.40%	12.64%	14.67%	6.40%	7.10%	22.26%	19.06%	8.24%	7.73%	6.33%
Net Nonoperating Expense Percent (NNEP)	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	1.05%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	1.27%	0.92%	1.29%	1.20%	1.46%	-37.02%	23.04%	1.20%	31.27%	-28.29%	28.25%
Operating Expenses to Revenue	77.10%	50.70%	86.57%	84.94%	94.01%	57.96%	76.16%	80.56%	92.62%	55.61%	92.75%
Earnings before Interest and Taxes (EBIT)	42	125	24	29	9.56	94	47	38	10	124	12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	94	174	74	80	59	147	97	88	61	172	62
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.67	1.80	1.53	1.65	1.58	1.29	1.22	1.08	1.10	1.10
Price to Tangible Book Value (P/TBV)	2.43	3.19	3.49	2.97	3.25	3.14	2.58	2.49	2.25	2.28	2.27
Price to Revenue (P/Rev)	1.67	2.18	2.79	2.30	2.44	2.06	1.85	1.80	1.67	1.44	1.77
Price to Earnings (P/E)	25.72	36.28	40.29	35.55	34.03	31.67	24.31	25.36	18.96	28.93	50.42
Dividend Yield	1.79%	1.36%	1.26%	1.50%	1.39%	1.46%	1.77%	1.90%	2.20%	2.14%	2.20%
Earnings Yield	3.89%	2.76%	2.48%	2.81%	2.94%	3.16%	4.11%	3.94%	5.27%	3.46%	1.98%
Enterprise Value to Invested Capital (EV/IC)	1.01	1.06	1.09	0.99	1.07	1.04	0.97	0.95	0.92	0.95	0.91
Enterprise Value to Revenue (EV/Rev)	4.93	5.48	6.67	5.94	6.29	5.48	5.57	5.77	5.89	5.07	6.12
Enterprise Value to EBITDA (EV/EBITDA)	9.78	11.15	16.91	14.14	14.59	10.51	12.13	13.37	12.37	9.39	13.24
Enterprise Value to EBIT (EV/EBIT)	19.86	22.95	79.13	51.29	48.98	21.91	32.62	45.63	38.51	22.38	91.67
Enterprise Value to NOPAT (EV/NOPAT)	20.49	23.72	56.58	53.56	50.91	22.61	42.62	46.93	39.31	22.93	95.97
Enterprise Value to Operating Cash Flow (EV/OCF)	14.23	16.56	17.71	17.01	19.45	17.77	16.48	16.16	15.76	17.59	16.41
Enterprise Value to Free Cash Flow (EV/FCFF)	12.55	46.04	264.22	0.00	102.75	29.44	57.87	53.75	25.57	16.33	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.15	1.28	1.30	1.31	1.30	1.29	1.29	1.31	1.34	1.33	1.36
Long-Term Debt to Equity	1.15	1.21	1.23	1.24	1.23	1.29	1.29	1.31	1.34	1.33	1.36
Financial Leverage	1.22	1.29	1.30	1.31	1.32	1.31	1.33	1.34	1.36	1.35	1.30
Leverage Ratio	2.37	2.48	2.48	2.49	2.45	2.46	2.47	2.49	2.52	2.51	2.45
Compound Leverage Factor	0.85	0.40	2.48	2.49	2.45	0.46	1.13	2.49	2.52	0.46	2.45
Debt to Total Capital	53.54%	56.11%	56.46%	56.62%	56.49%	56.41%	56.40%	56.72%	57.24%	57.16%	57.64%
Short-Term Debt to Total Capital	0.00%	2.96%	2.97%	2.97%	3.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	53.54%	53.15%	53.48%	53.65%	53.46%	56.41%	56.40%	56.72%	57.24%	57.16%	57.64%
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	19.61%	18.50%	18.39%	18.33%	18.38%	18.77%	18.77%	18.85%	18.58%	18.55%	18.26%
Common Equity to Total Capital	26.85%	25.39%	25.15%	25.05%	25.13%	24.81%	24.83%	24.42%	24.18%	24.29%	24.06%
Debt to EBITDA	5.18	5.88	8.80	8.10	7.74	5.70	7.07	7.95	7.67	5.68	8.37
Net Debt to EBITDA	4.58	4.77	6.98	6.06	6.41	4.67	5.74	6.55	6.36	4.88	6.76
Long-Term Debt to EBITDA	5.18	5.57	8.33	7.67	7.32	5.70	7.07	7.95	7.67	5.68	8.37
Debt to NOPAT	10.85	12.50	29.44	30.67	27.00	12.26	24.85	27.91	24.37	13.86	60.70
Net Debt to NOPAT	9.60	10.15	23.37	22.93	22.35	10.03	20.19	22.98	20.23	11.92	48.98
Long-Term Debt to NOPAT	10.85	11.84	27.89	29.06	25.55	12.26	24.85	27.91	24.37	13.86	60.70
Noncontrolling Interest Sharing Ratio	42.23%	42.61%	42.64%	42.90%	42.84%	43.18%	43.12%	43.05%	42.35%	42.02%	41.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	164	-70	-38	-53	-32	-27	20	27	61	87	-92
Operating Cash Flow to CapEx	197.67%	172.45%	217.00%	85.31%	124.36%	96.03%	357.52%	56.79%	206.83%	100.01%	278.12%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-1.39	0.00	-1.26	0.00	0.00	0.00	2.42	0.00	-3.61
Operating Cash Flow to Interest Expense	0.00	0.00	3.75	0.00	2.82	0.00	0.00	0.00	3.41	0.00	3.54
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2.02	0.00	0.55	0.00	0.00	0.00	1.76	0.00	2.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.18	0.15	0.16	0.16	0.18	0.16	0.16	0.15	0.17	0.14
Fixed Asset Turnover	0.32	0.32	0.27	0.29	0.28	0.31	0.29	0.27	0.26	0.30	0.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,844	4,060	4,036	4,037	3,964	3,972	3,975	3,955	3,922	3,929	3,951
Invested Capital Turnover	0.20	0.20	0.16	0.17	0.17	0.19	0.17	0.17	0.16	0.18	0.15
Increase / (Decrease) in Invested Capital	-120	88	61	82	42	42	24	10	-49	-65	102
Enterprise Value (EV)	3,886	4,321	4,379	3,992	4,222	4,132	3,844	3,773	3,622	3,715	3,601
Market Capitalization	1,312	1,721	1,828	1,543	1,640	1,553	1,277	1,180	1,029	1,054	1,042
Book Value per Share	$6.15	$6.18	$6.15	$6.13	$6.09	$6.07	$6.13	$6.02	$5.86	$5.91	$5.81
Tangible Book Value per Share	$3.22	$3.23	$3.17	$3.15	$3.09	$3.04	$3.08	$2.96	$2.82	$2.87	$2.81
Total Capital	3,844	4,060	4,036	4,037	3,964	3,972	3,975	3,955	3,922	3,929	3,951
Total Debt	2,058	2,278	2,279	2,286	2,239	2,241	2,242	2,243	2,245	2,246	2,277
Total Long-Term Debt	2,058	2,158	2,159	2,166	2,119	2,241	2,242	2,243	2,245	2,246	2,277
Net Debt	1,820	1,849	1,809	1,709	1,854	1,834	1,821	1,848	1,864	1,931	1,838
Capital Expenditures (CapEx)	42	29	47	44	57	38	25	34	42	37	32
Net Nonoperating Expense (NNE)	28	0.00	0.00	0.00	0.00	0.00	24	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	2,058	2,278	2,279	2,286	2,239	2,241	2,242	2,243	2,245	2,246	2,277
Total Depreciation and Amortization (D&A)	52	49	50	51	50	53	50	50	51	48	51
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.08	$0.08	$0.10	$0.03	$0.05	$0.07	$0.14	$0.04	$0.08	$0.03
Adjusted Weighted Average Basic Shares Outstanding	167.18M	164.90M	164.88M	164.28M	163.49M	161.12M	161.85M	160.03M	161.34M	165.04M	162.17M
Adjusted Diluted Earnings per Share	$0.05	$0.07	$0.08	$0.10	$0.03	$0.05	$0.07	$0.14	$0.04	$0.08	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	269.53M	269.02M	269.61M	268.72M	267.49M	265.63M	266.07M	264.20M	265.20M	269.95M	267.12M
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	168.49M	167.71M	166.76M	0.00	165.02M	164.07M	162.48M	161.10M	160.39M	161.71M	161.42M
Normalized Net Operating Profit after Tax (NOPAT)	52	62	68	59	38	16	44	62	-3.65	22	10
Normalized NOPAT Margin	28.42%	24.49%	37.59%	30.36%	23.94%	7.10%	22.26%	32.19%	-2.58%	7.73%	6.33%
Pre Tax Income Margin	8.25%	7.85%	13.43%	15.06%	5.99%	7.90%	10.89%	19.44%	7.38%	8.20%	7.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.88	0.00	0.38	0.00	0.00	0.00	0.41	0.00	0.45
NOPAT to Interest Expense	0.00	0.00	0.83	0.00	0.41	0.00	0.00	0.00	0.46	0.00	0.40
EBIT Less CapEx to Interest Expense	0.00	0.00	-0.84	0.00	-1.89	0.00	0.00	0.00	-1.24	0.00	-0.82
NOPAT Less CapEx to Interest Expense	0.00	0.00	-0.90	0.00	-1.86	0.00	0.00	0.00	-1.19	0.00	-0.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	49.72%	52.88%	54.75%	56.71%	50.81%	48.96%	45.87%	51.58%	45.27%	67.69%	112.98%
Augmented Payout Ratio	49.72%	52.88%	54.75%	56.71%	59.74%	64.48%	68.85%	99.90%	136.31%	210.34%	430.71%

Frequently Asked Questions About Empire State Realty Trust's Financials

When does Empire State Realty Trust's financial year end?

According to the most recent income statement we have on file, Empire State Realty Trust's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Empire State Realty Trust's net income changed over the last 10 years?

Empire State Realty Trust's net income appears to be on a downward trend, with a most recent value of $80.36 million in 2024, rising from $70.21 million in 2014. The previous period was $84.41 million in 2023. Check out Empire State Realty Trust's forecast to explore projected trends and price targets.

How has Empire State Realty Trust revenue changed over the last 10 years?

Over the last 10 years, Empire State Realty Trust's total revenue changed from $568.87 million in 2014 to $788.67 million in 2024, a change of 38.6%.

How much debt does Empire State Realty Trust have?

Empire State Realty Trust's total liabilities were at $2.73 billion at the end of 2024, a 9.6% increase from 2023, and a 43.4% increase since 2014.

How much cash does Empire State Realty Trust have?

In the past 9 years, Empire State Realty Trust's cash and equivalents has ranged from $45.73 million in 2014 to $554.37 million in 2016, and is currently $385.47 million as of their latest financial filing in 2024.

How has Empire State Realty Trust's book value per share changed over the last 10 years?

Over the last 10 years, Empire State Realty Trust's book value per share changed from 4.56 in 2014 to 6.18 in 2024, a change of 35.7%.

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This page (NYSE:ESRT) was last updated on 5/21/2025 by MarketBeat.com Staff

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Empire State Realty Trust (ESRT) Financials

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Empire State Realty Trust (ESRT) Financials

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