InsiderClue
Stocks · Real estate · Real Estate Investment Trusts

Empire State Realty Trust, Inc.

ESRT Clue Score47
United States Fiscal year ends December CIK 0001541401
$4.63 +1.09% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $4.63 −55.86% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue677.4Operating income183.9Net income107.3EPS, diluted0.38Fiscal year 2017Revenue709.5 +4.7%Operating income192.9Net income118.3 +10.3%EPS, diluted0.39 +2.6%Fiscal year 2018Revenue731.5 +3.1%Operating income190.9Net income117.3 −0.8%EPS, diluted0.39 +0.0%Fiscal year 2019Revenue731.3 −0.0%Operating income154.7Net income84.3 −28.1%EPS, diluted0.28 −28.2%Fiscal year 2020Revenue609.2 −16.7%Operating income58.7Net income−22.9 −127.2%EPS, diluted−0.10 −135.7%Fiscal year 2021Revenue624.1 +2.4%Operating income79.1Net income−13.0EPS, diluted−0.06Fiscal year 2022Revenue725.7 +16.3%Operating income127.0Net income63.2EPS, diluted0.22Fiscal year 2023Revenue738.2 +1.7%Operating income146.7Net income84.4 +33.5%EPS, diluted0.30 +36.4%Fiscal year 2024Revenue766.8 +3.9%Operating income158.7Net income80.4 −4.8%EPS, diluted0.28 −6.7%Fiscal year 2025Revenue766.8 +0.0%Operating income135.6Net income73.0 −9.2%EPS, diluted0.25 −10.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 677.4 709.5 731.5 731.3 609.2 624.1 725.7 738.2 766.8 766.8
Growth +4.7% +3.1% −0.0% −16.7% +2.4% +16.3% +1.7% +3.9% +0.0%
Operating income 183.9 192.9 190.9 154.7 58.7 79.1 127.0 146.7 158.7 135.6
Net income 107.3 118.3 117.3 84.3 −22.9 −13.0 63.2 84.4 80.4 73.0
Growth +10.3% −0.8% −28.1% −127.2% +33.5% −4.8% −9.2%
EPS, diluted 0.38 0.39 0.39 0.28 −0.10 −0.06 0.22 0.30 0.28 0.25
Growth +2.6% +0.0% −28.2% −135.7% +36.4% −6.7% −10.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin27.1%Net margin15.8%Free cash flow margin2.5%Fiscal year 2017Operating margin27.2%Net margin16.7%Free cash flow margin−4.8%Fiscal year 2018Operating margin26.1%Net margin16.0%Free cash flow margin3.1%Fiscal year 2019Operating margin21.2%Net margin11.5%Free cash flow margin−3.2%Fiscal year 2020Operating margin9.6%Net margin−3.8%Free cash flow margin12.8%Fiscal year 2021Operating margin12.7%Net margin−2.1%Free cash flow margin−29.8%Fiscal year 2022Operating margin17.5%Net margin8.7%Free cash flow margin17.3%Fiscal year 2023Operating margin19.9%Net margin11.4%Free cash flow margin8.6%Fiscal year 2024Operating margin20.7%Net margin10.5%Fiscal year 2025Operating margin17.7%Net margin9.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 27.1% 27.2% 26.1% 21.2% 9.6% 12.7% 17.5% 19.9% 20.7% 17.7%
Net margin 15.8% 16.7% 16.0% 11.5% −3.8% −2.1% 8.7% 11.4% 10.5% 9.5%
Free cash flow margin 2.5% −4.8% 3.1% −3.2% 12.8% −29.8% 17.3% 8.6% n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow214.8Capital expenditure−197.7Free cash flow17.1Dividends paid−55.8Fiscal year 2017Operating cash flow194.2Capital expenditure−228.2Free cash flow−34.0 −298.9%Dividends paid−66.8Fiscal year 2018Operating cash flow279.0Capital expenditure−256.5Free cash flow22.5Buybacks0.0Dividends paid−70.9Fiscal year 2019Operating cash flow232.6Capital expenditure−255.9Free cash flow−23.3 −203.6%Buybacks0.0Dividends paid−75.2Fiscal year 2020Operating cash flow182.3Capital expenditure−104.1Free cash flow78.2Buybacks−143.7Dividends paid−37.2Fiscal year 2021Operating cash flow212.5Capital expenditure−398.4Free cash flow−185.9 −337.6%Buybacks−46.7Dividends paid−18.1Fiscal year 2022Operating cash flow211.2Capital expenditure−86.0Free cash flow125.2Buybacks−90.2Dividends paid−23.1Fiscal year 2023Operating cash flow232.5Capital expenditure−169.2Free cash flow63.3 −49.4%Buybacks−13.1Dividends paid−22.7Fiscal year 2024Operating cash flow260.9Buybacks0.0Dividends paid−23.2Fiscal year 2025Operating cash flow249.1Buybacks−8.1Dividends paid−23.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 214.8 194.2 279.0 232.6 182.3 212.5 211.2 232.5 260.9 249.1
Capital expenditure −197.7 −228.2 −256.5 −255.9 −104.1 −398.4 −86.0 −169.2 n/a n/a
Free cash flow 17.1 −34.0 22.5 −23.3 78.2 −185.9 125.2 63.3 n/a n/a
Growth −298.9% −203.6% −337.6% −49.4%
Buybacks n/a n/a 0.0 0.0 −143.7 −46.7 −90.2 −13.1 0.0 −8.1
Dividends paid −55.8 −66.8 −70.9 −75.2 −37.2 −18.1 −23.1 −22.7 −23.2 −23.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash554.4Total debt759.0Net cash (debt)−204.6Shareholders’ equity1,154.1Debt to equity0.66Fiscal year 2017Cash464.3Total debt717.2Net cash (debt)−252.8Shareholders’ equity1,168.3Debt to equity0.61Fiscal year 2018Cash205.0Total debt608.6Net cash (debt)−403.6Shareholders’ equity1,238.5Debt to equity0.49Fiscal year 2019Cash233.9Shareholders’ equity1,228.5Fiscal year 2020Cash526.7Shareholders’ equity1,055.2Fiscal year 2021Cash423.7Shareholders’ equity998.1Fiscal year 2022Cash264.4Shareholders’ equity954.4Fiscal year 2023Cash346.6Shareholders’ equity985.5Fiscal year 2024Cash385.5Shareholders’ equity1,030.7Fiscal year 2025Cash132.7Shareholders’ equity1,060.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 554.4 464.3 205.0 233.9 526.7 423.7 264.4 346.6 385.5 132.7
Total debt 759.0 717.2 608.6 n/a n/a n/a n/a n/a n/a n/a
Net cash (debt) −204.6 −252.8 −403.6 n/a n/a n/a n/a n/a n/a n/a
Shareholders’ equity 1,154.1 1,168.3 1,238.5 1,228.5 1,055.2 998.1 954.4 985.5 1,030.7 1,060.0
Debt to equity 0.66 0.61 0.49 n/a n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
27.1% 27.2% 26.1% 21.2% 9.6% 12.7% 17.5% 19.9% 20.7% 17.7%
16.7% 17.6% 16.7% 11.9% −4.9% −2.4% 8.9% 11.8% 10.8% 9.9%
15.8% 16.7% 16.0% 11.5% −3.8% −2.1% 8.7% 11.4% 10.5% 9.5%
2.5% −4.8% 3.1% −3.2% 12.8% −29.8% 17.3% 8.6% n/a n/a
Spending
7.2% 7.1% 7.2% 8.3% 10.2% 9.0% 8.5% 8.7% 9.2% 9.5%
29.2% 32.2% 35.1% 35.0% 17.1% 63.8% 11.8% 22.9% n/a n/a
5.4% 5.3% 3.8% 2.8% n/a n/a 2.4% 3.1% 3.2% 3.4%
Returns
9.3% 10.1% 9.5% 6.9% −2.2% −1.3% 6.6% 8.6% 7.8% 6.9%
2.8% 3.0% 2.8% 2.1% −0.6% −0.3% 1.5% 2.0% 1.8% 1.6%
Balance and payout
0.66 0.61 0.49 n/a n/a n/a n/a n/a n/a n/a
49.0% 49.7% 52.5% 50.5% 58.3% 60.7% 59.6% 59.0% 60.5% 59.2%
52.0% 56.5% 60.4% 89.2% n/a n/a 36.6% 26.9% 28.9% 32.5%
326.8% n/a 314.5% n/a 231.2% n/a 90.5% 56.5% n/a n/a