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Piedmont Realty Trust (PDM) Financials

Piedmont Realty Trust logo
$9.58 +0.04 (+0.42%)
Closing price 08/31/2026 03:58 PM Eastern
Extended Trading
$9.55 -0.03 (-0.32%)
As of 08:18 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Piedmont Realty Trust

Annual Income Statements for Piedmont Realty Trust

This table shows Piedmont Realty Trust's 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		 131 100 134 130 229 233 -1.15 147 -48 -79 -84
Consolidated Net Income / (Loss)		 131 100 134 130 229 233 -1.17 147 -48 -79 -84
Net Income / (Loss) Continuing Operations		 1.55 100 134 130 229 233 -1.17 147 -48 -79 -84
Total Pre-Tax Income 		1.55 6.31 14 130 32 233 -1.17 -4.90 -50 -79 -86
Total Revenue		 585 556 506 526 533 535 539 566 582 575 566
Net Interest Income / (Expense)		 0.00 0.00 -68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 585 556 574 526 533 535 539 566 582 575 566
Other Service Charges		 2.02 - - 22 - 15 10 2.71 3.94 4.35 0.73
Other Non-Interest Income		 583 556 574 504 533 520 529 564 578 570 565
Total Non-Interest Expense		 511 485 493 410 441 446 489 506 530 530 486
Other Operating Expenses		 30 27 252 239 249 242 241 255 264 270 258
Depreciation Expense		 135 128 119 108 106 111 121 134 148 157 167
Amortization Expense		 61 75 75 63 77 93 86 91 88 70 61
Impairment Charge		 43 34 46 0.00 8.95 0.00 41 26 29 34 0.00
Nonoperating Income / (Expense), net		 -72 -64 0.66 15 -60 144 -51 -66 -102 -123 -166
Other Gains / (Losses), net		 - - 3.85 - 197 - 0.00 152 1.95 -0.45 2.01
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.02 -0.02 -0.02 -0.01 -0.01 -0.00 -0.01 0.00 0.01 0.01 0.02
Basic Earnings per Share		 $0.87 $0.69 $0.92 $1.00 $1.82 $1.85 ($0.01) $1.19 ($0.39) ($0.64) ($0.67)
Weighted Average Basic Shares Outstanding		 150.54M 145.23M 145.04M 130.16M 125.71M 125.73M 123.98M 123.35M 123.66M 123.94M 124.44M
Diluted Earnings per Share		 $0.87 $0.69 $0.92 $1.00 $1.82 $1.85 ($0.01) $1.19 ($0.39) ($0.64) ($0.67)
Weighted Average Diluted Shares Outstanding		 150.88M 145.64M 145.38M 130.64M 126.18M 126.10M 123.98M 123.52M 123.66M 123.94M 124.44M
Weighted Average Basic & Diluted Shares Outstanding		 150.90M 144.50M 145.20M 125.60M 125.89M 123.96M 123.26M 123.64M 123.80M 124.29M 124.85M
Cash Dividends to Common per Share		 $0.84 $0.84 $1.34 $0.84 $0.84 $0.84 $0.84 $0.84 $0.67 $0.50 $0.13

Quarterly Income Statements for Piedmont Realty Trust

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -28 -28 -9.81 -12 -30 -10 -17 -13 -43 -13 -11
Consolidated Net Income / (Loss)		 -28 -28 -9.81 -12 -30 -10 -17 -13 -43 -13 -11
Net Income / (Loss) Continuing Operations		 -28 -28 -9.81 -12 -30 -10 -17 -13 -43 -13 -11
Total Pre-Tax Income 		-30 -28 -9.81 -11 -30 -11 -18 -13 -43 -13 -11
Total Revenue		 147 145 144 141 145 143 140 139 143 144 144
Net Interest Income / (Expense)		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Income		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Non-Interest Income		 147 145 144 141 145 143 140 139 143 144 144
Other Service Charges		 -3.64 0.28 0.33 2.09 -4.62 0.40 0.13 0.16 0.05 0.23 0.19
Other Non-Interest Income		 151 145 143 139 150 143 140 139 143 143 144
Total Non-Interest Expense		 147 142 124 120 143 122 119 121 124 125 124
Other Operating Expenses		 66 67 67 64 71 65 64 63 66 65 64
Depreciation Expense		 38 39 39 39 40 41 41 42 43 44 45
Amortization Expense		 24 18 18 17 16 15 15 15 15 15 14
Nonoperating Income / (Expense), net		 -30 -30 -30 -32 -32 -32 -39 -32 -62 -32 -32
Other Gains / (Losses), net		 - 0.00 0.00 -0.45 - 0.79 1.22 0.00 - 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.01 0.01 0.00
Basic Earnings per Share		 ($0.22) ($0.22) ($0.08) ($0.09) ($0.25) ($0.08) ($0.14) ($0.11) ($0.34) ($0.10) ($0.09)
Weighted Average Basic Shares Outstanding		 123.66M 123.80M 123.95M 124.00M 123.94M 124.26M 124.46M 124.50M 124.44M 124.81M 125.08M
Diluted Earnings per Share		 ($0.22) ($0.22) ($0.08) ($0.09) ($0.25) ($0.08) ($0.14) ($0.11) ($0.34) ($0.10) ($0.09)
Weighted Average Diluted Shares Outstanding		 123.66M 123.80M 123.95M 124.00M 123.94M 124.26M 124.46M 124.50M 124.44M 124.81M 125.08M
Weighted Average Basic & Diluted Shares Outstanding		 123.80M 123.89M 124.00M 124.00M 124.29M 124.41M 124.50M 124.52M 124.85M 125.02M 125.13M

Annual Cash Flow Statements for Piedmont Realty Trust

This table details how cash moves in and out of Piedmont Realty Trust's 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		 -7.37 -2.41 0.55 -2.72 9.35 -6.17 -0.35 11 -15 110 -110
Net Cash From Operating Activities		 224 232 243 203 208 193 242 215 210 198 141
Net Cash From Continuing Operating Activities		 224 232 243 203 208 193 242 215 210 198 141
Net Income / (Loss) Continuing Operations		 131 100 134 130 229 233 -1.17 147 -48 -79 -84
Consolidated Net Income / (Loss)		 131 100 134 130 229 233 -1.17 147 -48 -79 -84
Depreciation Expense		 135 128 119 108 106 111 121 134 148 157 167
Amortization Expense		 63 76 76 58 72 87 82 86 84 71 66
Non-Cash Adjustments to Reconcile Net Income		 -79 -51 -64 -64 -173 -191 52 -120 36 44 45
Changes in Operating Assets and Liabilities, net		 -26 -20 -22 -29 -26 -46 -11 -31 -9.07 5.22 -54
Net Cash From Investing Activities		 300 -120 241 324 134 -198 -369 -1.25 -196 -187 -175
Net Cash From Continuing Investing Activities		 300 -120 241 324 134 -198 -369 -1.25 -196 -187 -175
Purchase of Property, Leasehold Improvements and Equipment		 -119 -110 -80 -72 -104 -113 -123 -121 -158 -212 -157
Sale and/or Maturity of Investments		 0.00 366 388 578 590 360 0.00 416 1.95 75 31
Other Investing Activities, net		 -38 -26 -31 -27 -26 -28 -20 -25 -40 -49 -49
Net Cash From Financing Activities		 -531 -114 -483 -529 -334 -1.58 126 -203 -30 98 -75
Net Cash From Continuing Financing Activities		 -531 -114 -483 -529 -334 -1.58 126 -203 -30 98 -75
Issuance of Debt		 1,302 695 180 977 592 1,174 790 803 1,413 919 998
Repayment of Debt		 -1,545 -707 -477 -1,021 -798 -1,037 -537 -898 -1,347 -757 -1,040
Payment of Dividends		 -127 -92 -122 -184 -106 -106 -104 -104 -93 -62 -31
Other Financing Activities, Net		 -2.04 -2.69 -3.59 -2.22 -4.01 -2.70 -3.12 -4.40 -1.76 -1.95 -2.88

Quarterly Cash Flow Statements for Piedmont Realty Trust

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -6.82 3.56 136 -6.86 -23 -107 1.18 0.32 -4.34 2.54 15
Net Cash From Operating Activities		 50 23 67 43 65 3.71 50 36 51 28 64
Net Cash From Continuing Operating Activities		 50 23 67 43 65 3.71 50 36 51 28 64
Net Income / (Loss) Continuing Operations		 -28 -28 -9.81 -12 -30 -10 -17 -13 -43 -13 -11
Consolidated Net Income / (Loss)		 -28 -28 -9.81 -12 -30 -10 -17 -13 -43 -13 -11
Depreciation Expense		 38 39 39 39 40 41 41 42 43 44 45
Amortization Expense		 24 18 18 17 17 16 16 16 17 18 17
Non-Cash Adjustments to Reconcile Net Income		 15 21 2.20 2.63 19 1.90 8.73 2.58 32 2.23 2.46
Changes in Operating Assets and Liabilities, net		 -0.58 -27 17 -4.69 19 -45 1.55 -12 2.08 -23 11
Net Cash From Investing Activities		 -59 -1.97 -66 -33 -86 -40 -31 -49 -55 -48 -46
Net Cash From Continuing Investing Activities		 -59 -1.97 -66 -33 -86 -40 -31 -49 -55 -48 -46
Purchase of Property, Leasehold Improvements and Equipment		 -45 -46 -51 -43 -72 -40 -42 -34 -41 -38 -34
Other Investing Activities, net		 -16 -9.21 -15 -12 -14 -5.80 -15 -15 -14 -10 -12
Net Cash From Financing Activities		 2.60 -18 135 -17 -2.07 -71 -18 14 -0.12 23 -3.32
Net Cash From Continuing Financing Activities		 2.60 -18 135 -17 -2.07 -71 -18 14 -0.12 23 -3.32
Issuance of Debt		 300 459 460 - - 366 116 71 445 87 97
Repayment of Debt		 -297 -446 -309 -1.16 -1.02 -404 -134 -57 -445 -61 -100
Payment of Dividends		 -0.34 -31 -16 -16 -0.22 -31 -0.01 -0.01 -0.01 -0.13 -0.01
Other Financing Activities, Net		 -0.08 -0.86 -0.23 -0.03 -0.83 -2.31 -0.06 -0.35 -0.16 -3.07 -0.30

Annual Balance Sheets for Piedmont Realty Trust

This table presents Piedmont 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 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		 4,362 4,368 4,000 3,592 3,517 3,740 3,931 4,086 4,057 4,115 4,031
Cash and Due from Banks		 5.44 6.99 7.38 4.57 14 7.33 7.42 17 0.83 110 0.73
Restricted Cash		 5.17 1.21 1.37 1.46 1.84 1.88 1.44 3.06 3.38 4.25 3.06
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 0.00
Premises and Equipment, Net		 3,514 2,985 2,734 2,592 2,698 2,848 3,044 3,334 3,308 3,297 3,330
Deferred Acquisition Cost		 288 277 245 236 266 272 265 284 262 260 311
Goodwill		 105 99 99 99 99 99 99 83 53 53 53
Intangible Assets		 85 100 78 78 74 91 94 114 83 60 44
Other Assets		 352 892 835 582 356 412 420 250 346 330 288
Total Liabilities & Shareholders' Equity		 4,362 4,368 4,000 3,592 3,517 3,740 3,931 4,086 4,057 4,115 4,031
Total Liabilities		 2,238 2,270 2,013 1,880 1,698 1,842 2,143 2,236 2,334 2,527 2,535
Other Short-Term Payables		 128 - 217 121 117 138 - 136 132 164 173
Long-Term Debt		 2,030 2,020 1,727 1,685 1,481 1,622 1,878 1,984 2,055 2,222 2,225
Other Long-Term Liabilities		 80 250 70 74 99 82 265 117 148 140 137
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,123 2,098 1,986 1,712 1,819 1,898 1,787 1,849 1,723 1,588 1,497
Total Preferred & Common Equity		 2,122 2,096 1,985 1,710 1,817 1,896 1,786 1,848 1,721 1,587 1,495
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,122 2,096 1,985 1,710 1,817 1,896 1,786 1,848 1,721 1,587 1,495
Common Stock		 3,671 3,675 3,679 3,684 3,688 3,695 3,703 3,712 3,718 3,725 3,732
Accumulated Other Comprehensive Income / (Loss)		 1.66 2.10 8.16 8.46 0.97 -24 -18 -8.68 -9.42 -10 -8.97
Other Equity Adjustments		 -1,551 -1,581 -1,702 -1,983 -1,871 -1,775 -1,899 -1,856 -1,987 -2,128 -2,227
Noncontrolling Interest		 1.03 1.88 1.82 1.77 1.73 1.68 1.63 1.59 1.56 1.52 1.50

Quarterly Balance Sheets for Piedmont Realty Trust

This table presents Piedmont 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 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 4,237 4,094 4,074 3,994 4,159 4,138 4,004 3,980 4,004 4,034 4,048
Cash and Due from Banks		 171 5.17 5.04 3.54 138 134 2.91 3.31 2.99 2.28 17
Restricted Cash		 4.18 5.06 5.98 4.22 5.37 3.34 3.72 4.50 5.15 4.06 4.96
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 0.00
Premises and Equipment, Net		 3,335 3,355 3,337 3,284 3,263 3,253 3,286 3,257 3,326 3,329 3,322
Deferred Acquisition Cost		 281 274 266 257 267 262 257 260 266 308 308
Goodwill		 83 83 72 53 53 53 53 53 53 53 53
Intangible Assets		 106 98 91 77 71 65 56 52 48 41 37
Other Assets		 258 274 297 315 361 368 345 349 302 296 306
Total Liabilities & Shareholders' Equity		 4,237 4,094 4,074 3,994 4,159 4,138 4,004 3,980 4,004 4,034 4,048
Total Liabilities		 2,417 2,297 2,307 2,312 2,500 2,508 2,442 2,432 2,467 2,551 2,573
Other Short-Term Payables		 98 108 121 107 141 151 120 131 135 158 185
Long-Term Debt		 2,198 2,049 2,050 2,070 2,222 2,222 2,186 2,178 2,193 2,252 2,251
Other Long-Term Liabilities		 121 140 136 135 138 135 136 123 138 141 137
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,820 1,797 1,767 1,682 1,658 1,630 1,562 1,548 1,537 1,483 1,475
Total Preferred & Common Equity		 1,819 1,796 1,765 1,680 1,657 1,629 1,560 1,546 1,536 1,481 1,473
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,819 1,796 1,765 1,680 1,657 1,629 1,560 1,546 1,536 1,481 1,473
Common Stock		 3,712 3,714 3,716 3,719 3,721 3,723 3,725 3,727 3,729 3,730 3,732
Accumulated Other Comprehensive Income / (Loss)		 -10 -6.98 -6.72 -8.09 -8.18 -11 -11 -9.87 -9.52 -8.38 -7.37
Other Equity Adjustments		 -1,883 -1,911 -1,944 -2,030 -2,056 -2,083 -2,154 -2,171 -2,184 -2,240 -2,251
Noncontrolling Interest		 1.59 1.57 1.57 1.55 1.54 1.54 1.52 1.51 1.51 1.50 1.50

Annual Metrics And Ratios for Piedmont Realty Trust

This table displays calculated financial ratios and metrics derived from Piedmont Realty Trust's 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		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.15 $0.74 $0.92 $1.00 $1.82 $1.85 ($0.01) $1.19 ($0.39) ($0.64) ($0.67)
Adjusted Weighted Average Basic Shares Outstanding		 150.54M 145.23M 145.04M 130.16M 125.71M 125.73M 123.98M 123.35M 123.66M 123.94M 124.44M
Adjusted Diluted Earnings per Share		 $1.15 $0.74 $0.92 $1.00 $1.82 $1.85 ($0.01) $1.19 ($0.39) ($0.64) ($0.67)
Adjusted Weighted Average Diluted Shares Outstanding		 150.88M 145.63M 145.38M 130.64M 126.18M 126.10M 123.98M 123.52M 123.66M 123.94M 124.44M
Adjusted Basic & Diluted Earnings per Share		 $1.15 $0.74 $0.92 $1.00 $1.82 $1.85 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 145.06M 145.32M 135.07M 125.60M 125.89M 123.96M 123.26M 123.64M 123.80M 124.29M 124.85M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Piedmont Realty Trust

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 124,849,529.00 125,019,003.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 124,849,529.00 125,019,003.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.10 -0.09
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.24% 0.55% 0.13% -4.04% -1.40% -1.20% -2.20% -1.46% - 0.31% 2.77%
EBITDA Growth		 19.06% -23.62% -0.38% 14.56% -5.12% 32.45% 1.50% -0.58% - 2.84% 6.32%
EBIT Growth		 105.16% -88.71% -0.93% 87.82% 708.16% 810.22% 8.41% -11.84% - -10.69% -3.02%
NOPAT Growth		 105.16% -88.71% -0.93% 87.82% 708.16% 810.22% 8.41% -11.84% - -10.69% -3.02%
Net Income Growth		 -137.09% -1,935.26% -394.06% 32.25% -6.96% 63.63% -71.37% -16.82% - -27.90% 33.97%
EPS Growth		 -136.07% -2,100.00% -300.00% 35.71% -13.64% 63.64% -75.00% -22.22% - -25.00% 35.71%
Operating Cash Flow Growth		 -3.18% -42.17% 21.90% -34.34% 31.13% -84.10% -25.02% -16.49% - 656.81% 28.43%
Free Cash Flow Firm Growth		 132.47% 153.17% 94.19% -115.01% -156.75% -92.93% 961.18% 773.56% - 37.37% -91.51%
Invested Capital Growth		 -1.44% -6.62% 0.87% 0.91% 0.87% -0.11% -3.98% -3.16% - -0.34% 0.00%
Revenue Q/Q Growth		 -0.05% -1.90% -1.07% -1.31% 2.70% -1.46% -1.86% -0.78% - 0.43% 0.55%
EBITDA Q/Q Growth		 -7.76% -5.46% 29.15% 1.16% -23.61% 32.71% -0.61% -1.34% - 2.45% 2.76%
EBIT Q/Q Growth		 -97.81% 292.45% 730.87% 8.05% -90.57% 975.25% 0.63% -13.60% - 0.32% 9.27%
NOPAT Q/Q Growth		 -97.81% 292.45% 730.87% 8.05% -90.57% 975.25% 0.63% -13.60% - 0.32% 9.27%
Net Income Q/Q Growth		 -64.86% 0.95% 64.67% -17.46% -160.24% 66.31% -66.43% 19.93% - 70.13% 14.08%
EPS Q/Q Growth		 -57.14% 0.00% 63.64% -12.50% -177.78% 68.00% -75.00% 21.43% - 70.59% 10.00%
Operating Cash Flow Q/Q Growth		 -24.06% -52.90% 186.06% -35.83% 51.67% -94.29% 1,249.03% -28.53% - -44.82% 128.92%
Free Cash Flow Firm Q/Q Growth		 -58.30% 379.89% -107.43% -0.52% -57.65% 160.04% 794.66% -20.46% - -74.60% -44.70%
Invested Capital Q/Q Growth		 -1.04% -0.68% 3.41% -0.72% -1.08% -1.64% -0.59% 0.12% - 0.37% -0.25%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 42.35% 40.94% 53.45% 54.79% 40.75% 54.88% 55.58% 55.27% - 56.27% 57.51%
EBIT Margin		 0.17% 1.62% 13.57% 14.85% 1.36% 14.88% 15.26% 13.29% - 13.25% 14.40%
Profit (Net Income) Margin		 -19.03% -19.17% -6.85% -8.15% -20.64% -7.06% -11.97% -9.66% - -9.00% -7.69%
Tax Burden Percent		 93.51% 100.00% 100.00% 104.02% 100.00% 92.75% 93.21% 100.00% - 100.00% 100.00%
Interest Burden Percent		 -12,233.88% -1,186.87% -50.46% -52.74% -1,513.99% -51.14% -84.16% -72.70% - -67.92% -53.41%
Effective Tax Rate		 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)		 0.02% 0.17% 1.43% 1.56% 0.14% 1.59% 1.60% 1.39% - 1.40% 1.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 -1.38% -1.21% 0.34% 0.34% -1.32% 0.42% 0.15% 0.20% - 0.22% 0.38%
Return on Net Nonoperating Assets (RNNOA)		 -1.56% -1.47% 0.42% 0.42% -1.71% 0.55% 0.21% 0.27% - 0.32% 0.56%
Return on Equity (ROE)		 -1.54% -1.30% 1.85% 1.99% -1.56% 2.14% 1.81% 1.67% - 1.73% 2.10%
Cash Return on Invested Capital (CROIC)		 2.41% 7.45% -0.27% -0.12% -0.04% 1.30% 5.26% 4.37% - 1.80% 1.45%
Operating Return on Assets (OROA)		 0.02% 0.23% 1.92% 2.09% 0.19% 2.13% 2.14% 1.85% - 1.87% 2.04%
Return on Assets (ROA)		 -2.72% -2.71% -0.97% -1.14% -2.90% -1.01% -1.68% -1.35% - -1.27% -1.09%
Return on Common Equity (ROCE)		 -1.54% -1.30% 1.85% 1.98% -1.56% 2.14% 1.81% 1.66% - 1.72% 2.10%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -4.45% -4.99% -4.73% 0.00% -3.94% -4.42% -4.58% - -5.83% -5.48%
Net Operating Profit after Tax (NOPAT)		 0.17 1.64 14 15 1.39 15 15 13 - 13 15
NOPAT Margin		 0.12% 1.13% 9.50% 10.40% 0.95% 10.42% 10.68% 9.30% - 9.27% 10.08%
Net Nonoperating Expense Percent (NNEP)		 1.40% 1.38% 1.10% 1.23% 1.47% 1.17% 1.45% 1.20% - 1.18% 1.16%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Operating Expenses to Revenue		 99.83% 98.38% 86.43% 85.15% 98.64% 85.12% 84.74% 86.71% - 86.75% 85.60%
Earnings before Interest and Taxes (EBIT)		 0.25 2.34 19 21 1.98 21 21 19 - 19 21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 62 59 77 77 59 79 78 77 - 81 83
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.48 0.50 0.53 0.77 0.72 0.59 0.59 0.73 - 0.55 0.78
Price to Tangible Book Value (P/TBV)		 0.52 0.54 0.58 0.83 0.77 0.63 0.63 0.78 - 0.59 0.83
Price to Revenue (P/Rev)		 1.42 1.45 1.52 2.17 1.97 1.60 1.59 1.97 - 1.45 2.01
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Dividend Yield		 10.04% 8.59% 6.99% 4.95% 5.46% 6.78% 6.86% 5.56% - 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.76 0.77 0.76 0.87 0.85 0.83 0.83 0.89 - 0.82 0.91
Enterprise Value to Revenue (EV/Rev)		 4.95 4.99 5.09 5.79 5.65 5.41 5.40 5.83 - 5.42 5.92
Enterprise Value to EBITDA (EV/EBITDA)		 10.11 10.92 11.16 12.11 11.91 10.62 10.51 11.31 - 9.75 10.56
Enterprise Value to EBIT (EV/EBIT)		 55.59 87.08 89.33 77.62 72.50 48.62 47.10 52.60 - 39.38 43.68
Enterprise Value to NOPAT (EV/NOPAT)		 79.42 124.40 127.61 110.88 103.58 69.46 67.28 75.14 - 56.26 62.40
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.69 15.05 14.46 18.28 16.38 17.35 19.03 21.38 - 18.60 18.83
Enterprise Value to Free Cash Flow (EV/FCFF)		 31.41 10.04 0.00 0.00 0.00 63.71 15.39 19.96 - 45.64 62.60
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.19 1.23 1.34 1.36 1.40 1.40 1.41 1.43 - 1.52 1.53
Long-Term Debt to Equity		 1.19 1.23 1.34 1.36 1.40 1.40 1.41 1.43 - 1.52 1.53
Financial Leverage		 1.13 1.22 1.24 1.26 1.29 1.31 1.37 1.39 - 1.46 1.47
Leverage Ratio		 2.28 2.35 2.39 2.42 2.47 2.47 2.54 2.57 - 2.64 2.66
Compound Leverage Factor		 -278.86 -27.90 -1.21 -1.27 -37.37 -1.26 -2.14 -1.87 - -1.79 -1.42
Debt to Total Capital		 54.39% 55.17% 57.26% 57.68% 58.32% 58.33% 58.45% 58.80% - 60.30% 60.41%
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%
Long-Term Debt to Total Capital		 54.39% 55.17% 57.26% 57.68% 58.32% 58.33% 58.45% 58.80% - 60.30% 60.41%
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%
Noncontrolling Interests to Total Capital		 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% - 0.04% 0.04%
Common Equity to Total Capital		 45.57% 44.79% 42.70% 42.28% 41.64% 41.63% 41.51% 41.16% - 39.66% 39.55%
Debt to EBITDA		 7.22 7.78 8.36 8.06 8.16 7.49 7.44 7.50 - 7.16 7.04
Net Debt to EBITDA		 7.21 7.75 7.82 7.56 7.74 7.47 7.41 7.47 - 7.14 6.98
Long-Term Debt to EBITDA		 7.22 7.78 8.36 8.06 8.16 7.49 7.44 7.50 - 7.16 7.04
Debt to NOPAT		 56.71 88.59 95.61 73.79 70.94 49.03 47.60 49.83 - 41.30 41.62
Net Debt to NOPAT		 56.60 88.26 89.42 69.24 67.31 48.88 47.43 49.65 - 41.19 41.22
Long-Term Debt to NOPAT		 56.71 88.59 95.61 73.79 70.94 49.03 47.60 49.83 - 41.30 41.62
Noncontrolling Interest Sharing Ratio		 0.09% 0.09% 0.09% 0.09% 0.09% 0.09% 0.10% 0.10% - 0.10% 0.10%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 56 268 -20 -20 -32 19 169 135 - 26 14
Operating Cash Flow to CapEx		 110.72% 50.72% 131.22% 99.74% 90.18% 9.37% 119.46% 104.59% - 73.43% 191.68%
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
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
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
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 - 0.14 0.14
Fixed Asset Turnover		 0.18 0.18 0.18 0.18 0.17 0.17 0.17 0.17 - 0.17 0.17
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,778 3,752 3,880 3,852 3,810 3,748 3,726 3,730 - 3,735 3,726
Invested Capital Turnover		 0.15 0.15 0.15 0.15 0.15 0.15 0.15 0.15 - 0.15 0.15
Increase / (Decrease) in Invested Capital		 -55 -266 33 35 33 -4.02 -154 -122 - -13 0.17
Enterprise Value (EV)		 2,877 2,907 2,965 3,339 3,245 3,097 3,078 3,307 - 3,068 3,375
Market Capitalization		 825 843 886 1,252 1,135 916 907 1,121 - 820 1,144
Book Value per Share		 $13.91 $13.57 $13.37 $13.13 $12.80 $12.55 $12.43 $12.33 - $11.87 $11.79
Tangible Book Value per Share		 $12.81 $12.52 $12.37 $12.18 $11.88 $11.67 $11.58 $11.52 - $11.11 $11.06
Total Capital		 3,778 3,752 3,880 3,852 3,810 3,748 3,726 3,730 - 3,735 3,726
Total Debt		 2,055 2,070 2,222 2,222 2,222 2,186 2,178 2,193 - 2,252 2,251
Total Long-Term Debt		 2,055 2,070 2,222 2,222 2,222 2,186 2,178 2,193 - 2,252 2,251
Net Debt		 2,050 2,062 2,078 2,085 2,108 2,180 2,170 2,185 - 2,246 2,229
Capital Expenditures (CapEx)		 45 46 51 43 72 40 42 34 - 38 34
Net Nonoperating Expense (NNE)		 28 29 23 26 31 25 32 26 - 26 26
Net Nonoperating Obligations (NNO)		 2,055 2,070 2,222 2,222 2,222 2,186 2,178 2,193 - 2,252 2,251
Total Depreciation and Amortization (D&A)		 62 57 57 56 57 57 57 58 - 62 62
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.22) ($0.22) ($0.08) ($0.09) ($0.25) ($0.08) ($0.14) ($0.11) ($0.34) ($0.10) ($0.09)
Adjusted Weighted Average Basic Shares Outstanding		 123.66M 123.80M 123.95M 124.00M 123.94M 124.26M 124.46M 124.50M 124.44M 124.81M 125.08M
Adjusted Diluted Earnings per Share		 ($0.22) ($0.22) ($0.08) ($0.09) ($0.25) ($0.08) ($0.14) ($0.11) ($0.34) ($0.10) ($0.09)
Adjusted Weighted Average Diluted Shares Outstanding		 123.66M 123.80M 123.95M 124.00M 123.94M 124.26M 124.46M 124.50M 124.44M 124.81M 125.08M
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		 123.80M 123.89M 124.00M 124.00M 124.29M 124.41M 124.50M 124.52M 124.85M 125.02M 125.13M
Normalized Net Operating Profit after Tax (NOPAT)		 13 15 14 15 12 15 15 13 - 13 15
Normalized NOPAT Margin		 8.91% 10.04% 9.50% 10.40% 8.38% 10.42% 10.68% 9.30% - 9.27% 10.08%
Pre Tax Income Margin		 -20.35% -19.17% -6.85% -7.83% -20.64% -7.61% -12.84% -9.66% - -9.00% -7.69%
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
NOPAT to Interest Expense		 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
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
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -192.49% -96.85% -75.00% -80.38% -78.25% -101.10% -68.10% -44.18% - -0.19% -0.19%
Augmented Payout Ratio		 -192.49% -96.85% -75.00% -80.38% -78.25% -101.10% -68.10% -44.18% - -0.19% -0.19%

Financials Breakdown Chart

Key Financial Trends

Piedmont Office Realty Trust (NYSE:PDM) has shown modest top-line growth, but profitability remains under pressure. Q2 revenue increased to $144.3 million from $140.4 million in Q2 2025 and $136.3 million in Q2 2022. However, total non-interest expenses also climbed to $123.5 million, leaving the company with a $11.1 million net loss, or $0.09 per share, in Q2 2026.

The latest results do represent an improvement from the prior-year quarter. Q2 2025’s net loss was $16.8 million, or $0.14 per share. Still, PDM has reported losses in each quarter provided since Q1 2024, aside from the earlier profitable periods in 2022. Nonoperating expenses remain a major drag, totaling $31.9 million in Q2 2026 after reaching $39.5 million in Q2 2025.

Cash generation is stronger than GAAP earnings suggest because depreciation and amortization are substantial noncash expenses. Operating cash flow rose to $64.3 million in Q2 2026 from $50.1 million in Q2 2025, although it remained below the $66.8 million recorded in Q2 2024. After $33.6 million of property and equipment spending, estimated quarterly free cash flow was approximately $30.8 million, a significant improvement from roughly $8.7 million in Q2 2025.

The balance sheet presents a more cautious picture. Total assets reached $4.05 billion at June 30, 2026, up from $3.98 billion a year earlier but below the $4.16 billion reported in Q2 2024. Long-term debt increased to $2.25 billion from $2.18 billion in Q2 2025, while total equity declined to $1.47 billion from $1.55 billion. As a result, liabilities represented approximately 64% of assets in Q2 2026, compared with about 51% in Q2 2022.

  • Revenue has gradually improved: Q2 revenue increased from $136.3 million in 2022 to $144.3 million in 2026, indicating relative stability in the property portfolio’s recurring income base.
  • Operating cash flow remains positive: PDM generated $64.3 million of operating cash flow in Q2 2026 despite reporting a net loss.
  • Free cash flow improved materially: Lower capital spending helped estimated free cash flow rise to approximately $30.8 million in Q2 2026 from $8.7 million in Q2 2025.
  • Quarterly losses narrowed: The Q2 2026 net loss improved by roughly 34% from the $16.8 million loss reported in Q2 2025, while EPS improved from negative $0.14 to negative $0.09.
  • Impairment charges have not reappeared in the latest periods: The company recorded impairment charges in Q1 and Q4 2024, but none were reported in the provided 2025 or 2026 income statements.
  • Cash balances are volatile: Unrestricted cash increased to $16.8 million in Q2 2026 from $7.8 million in Q2 2025, but remained far below the $133.6 million reported in Q3 2024. Restricted cash added another $5.0 million.
  • Debt refinancing remains active: In Q2 2026, PDM issued $97.0 million of debt and repaid $100.0 million, producing a modest net debt repayment. The company continues to rely on regular refinancing activity to manage its debt portfolio.
  • Profitability remains unresolved: Net losses have persisted through the latest quarters, and Q2 2026’s $11.1 million loss was still materially worse than the $1.4 million loss reported in Q1 2023.
  • Leverage has increased: Long-term debt rose from $1.67 billion in Q2 2022 to $2.25 billion in Q2 2026, while total equity declined by more than $340 million over the same period.
  • Nonoperating expenses continue to weigh on results: Nonoperating losses have generally expanded from approximately $21.6 million in Q2 2023 to $31.9 million in Q2 2026, limiting the benefit of stable property-related revenue.

Overall, PDM’s operating cash flow and improving free cash flow are constructive, and the latest quarterly loss narrowed. However, persistent GAAP losses, elevated nonoperating expenses, higher leverage and relatively limited unrestricted cash remain important risks. Investors should monitor whether operating cash flow can remain strong enough to support capital spending and debt obligations while the company works to restore profitability.

09/01/26 06:16 AM ETAI Generated. May Contain Errors.

Piedmont Realty Trust Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Piedmont Realty Trust's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Piedmont Realty Trust's net income appears to be on a downward trend, with a most recent value of -$83.60 million in 2025, falling from $131.32 million in 2015. The previous period was -$79.06 million in 2024. See where experts think Piedmont Realty Trust is headed by visiting Piedmont Realty Trust's forecast page.

Over the last 10 years, Piedmont Realty Trust's total revenue changed from $584.77 million in 2015 to $565.73 million in 2025, a change of -3.3%.

Piedmont Realty Trust's total liabilities were at $2.53 billion at the end of 2025, a 0.3% increase from 2024, and a 13.3% increase since 2015.

In the past 10 years, Piedmont Realty Trust's cash and equivalents has ranged from $731 thousand in 2025 to $109.64 million in 2024, and is currently $731 thousand as of their latest financial filing in 2025.


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Financial statements for NYSE:PDM last updated on 7/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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