What is EMPIRE STATE REALTY OP, L.P. SERIES ES's earnings per share (EPS)?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) reported diluted earnings per share of $0.25 for fiscal year 2025. This represents a -10.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) Financials

ESBA

Trailing 12 months to June 30, 2026

Revenue $784.2M +2.0% YoY

Net Income $9.3M -86.5% YoY

EPS (Diluted) $0.02 -91.3% YoY

Operating Cash Flow $227.6M -13.3% YoY

Market Cap $1.1B as of Sep 22, 2026

Price / Sales 1.5x on $784.2M revenue, trailing 12 months to June 30, 2026

Price / Earnings 124x on $9.3M net income, trailing 12 months to June 30, 2026

Price / Book 0.6x on $1.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ESBA SEC filings page.

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) reported $784.2M in revenue over the twelve months to Jun 30, 2026, up 2.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ESBA FY2025 2026-08-29

Asset-heavy economics and substantial noncash charges turn modest operating earnings into cash generation, while financing costs remain material.

Revenue was nearly unchanged from FY2024 to FY2025, yet operating margin compressed from 20.7% to 17.7%, pointing to weaker operating efficiency rather than a volume story. Operating cash flow was more than triple net income in FY2025, while depreciation and amortization reached $195M; the cash-conversion gap is therefore largely shaped by noncash depreciation charges, not earnings strength alone.

The balance sheet carries $4.5B of assets against $2.6B of liabilities, with debt-to-equity at 1.5x; this is a leveraged asset-backed structure, so financing costs matter alongside operating performance. Interest expense was $103M in FY2025, absorbing a sizable part of operating income and helping explain why net profitability trails operating profitability.

Earlier free cash flow swung from -$186M in FY2021 to $125M in FY2022, showing that reinvestment can materially reshape reported cash generation. It then was $63M in FY2023, while the latest two years lack reported free cash flow, so annual reinvestment cannot be treated as a stable pattern.

Financial Health Signals

Financial health score not available

EMPIRE STATE REALTY OP, L.P. SERIES ES does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/5

EMPIRE STATE REALTY OP, L.P. SERIES ES passes 4 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

3.41x

For every $1 of reported earnings, EMPIRE STATE REALTY OP, L.P. SERIES ES generates $3.41 in operating cash flow ($249.1M OCF vs $73.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.32x

EMPIRE STATE REALTY OP, L.P. SERIES ES earns $1.32 in operating income for every $1 of interest expense ($135.6M vs $103.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$196.9M

YoY+3.0%

QoQ+3.5%

5Y CAGR+5.1%

10Y CAGR+1.7%

EMPIRE STATE REALTY OP, L.P. SERIES ES generated $196.9M in revenue in Q2 2026. This represents an increase of 3.0% from the same quarter a year earlier. Against the prior quarter it is up 3.5%.

EBITDA

-$88.3M

YoY-206.5%

QoQ-210.9%

EMPIRE STATE REALTY OP, L.P. SERIES ES's EBITDA was -$88.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 206.5% from the same quarter a year earlier. Against the prior quarter it is down 210.9%.

Net Income

-$39.6M

YoY-447.4%

QoQ-1420.7%

EMPIRE STATE REALTY OP, L.P. SERIES ES reported -$39.6M in net income in Q2 2026. This represents a decrease of 447.4% from the same quarter a year earlier. Against the prior quarter it is down 1420.7%.

EPS (Diluted)

-$0.15

YoY-475.0%

QoQ-1600.0%

EMPIRE STATE REALTY OP, L.P. SERIES ES earned -$0.15 per diluted share (EPS) in Q2 2026. This represents a decrease of 475.0% from the same quarter a year earlier. Against the prior quarter it is down 1600.0%.

Cash & Balance Sheet

Cash & Debt

$85.6M

YoY-9.5%

QoQ+24.4%

5Y CAGR-30.8%

10Y CAGR+9.2%

EMPIRE STATE REALTY OP, L.P. SERIES ES held $85.6M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.04

YoY0.0%

QoQ0.0%

EMPIRE STATE REALTY OP, L.P. SERIES ES paid $0.04 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

Diluted avg 269M

EMPIRE STATE REALTY OP, L.P. SERIES ES had a weighted average of 269M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Operating Margin

-70.5%

YoY-88.8pp

QoQ-85.9pp

5Y change-87.7pp

10Y change-97.1pp

EMPIRE STATE REALTY OP, L.P. SERIES ES's operating margin was -70.5% in Q2 2026, reflecting core business profitability. This is down 88.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 85.9 percentage points.

Net Margin

-20.1%

YoY-26.0pp

QoQ-21.7pp

5Y change-23.0pp

10Y change-34.8pp

EMPIRE STATE REALTY OP, L.P. SERIES ES's net profit margin was -20.1% in Q2 2026, showing the share of revenue converted to profit. This is down 26.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 21.7 percentage points.

Return on Equity

-2.2%

YoY-2.9pp

QoQ-2.4pp

5Y change-2.5pp

10Y change-4.0pp

EMPIRE STATE REALTY OP, L.P. SERIES ES's ROE was -2.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

ESBA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ESBA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K
Revenue	$784.2M	$768.3M0.0%	$767.9M+3.8%	$739.6M+1.7%	$727.0M+16.5%	$624.1M+2.4%	$609.2M-16.7%	$731.3M0.0%	$731.5M+3.1%	$709.5M+4.7%	$677.4M+3.0%	$657.6M+3.5%	$635.3M	$260.3M-11.7%	$294.8M
SG&A Expenses	$80.4M	$72.8M+3.7%	$70.2M+9.8%	$63.9M+3.5%	$61.8M+10.4%	$55.9M-10.1%	$62.2M+1.9%	$61.1M+15.9%	$52.7M+4.7%	$50.3M+2.5%	$49.1M+28.9%	$38.1M-2.5%	$39.0M	$21.0M	N/A
Operating Income	-$34.5M	$135.6M-14.5%	$158.7M+8.2%	$146.7M+15.5%	$127.0M+60.5%	$79.1M+34.9%	$58.7M-62.1%	$154.7M-18.9%	$190.9M-1.1%	$192.9M+4.9%	$183.9M+21.5%	$151.4M+7.1%	$141.3M	$88.7M	N/A
EBITDA	N/A	$330.4M-3.8%	$343.5M+2.1%	$336.6M-2.1%	$343.9M+22.4%	$280.9M+12.5%	$249.7M-25.8%	$336.3M-6.4%	$359.4M+1.6%	$353.6M+4.3%	$339.1M+5.0%	$322.8M+12.6%	$286.8M	$131.4M	N/A
Interest Expense	$107.0M	$103.1M-2.0%	$105.2M+3.7%	$101.5M+0.3%	$101.2M+7.2%	$94.4M+5.0%	$89.9M+13.5%	$79.2M-0.5%	$79.6M+16.3%	$68.5M-3.0%	$70.6M+7.4%	$65.7M-1.1%	$66.5M	$54.4M	N/A
Income Tax	$870K	$2.6M-4.8%	$2.7M-1.0%	$2.7M+75.6%	$1.5M+189.2%	-$1.7M+75.1%	-$7.0M-387.0%	$2.4M-47.7%	$4.6M-30.4%	$6.7M+8.6%	$6.1M+55.6%	$3.9M-15.2%	$4.7M	N/A	N/A
Net Income	$9.3M	$73.0M-9.2%	$80.4M-4.8%	$84.4M+33.5%	$63.2M+584.9%	-$13.0M+43.0%	-$22.9M-127.2%	$84.3M-27.5%	$116.3M-0.9%	$117.3M+10.3%	$106.3M+34.6%	$79.0M+13.3%	$69.7M	$48.6M-15.3%	$57.4M
EPS (Basic)	N/A	$0.26-10.3%	$0.29-3.3%	$0.30+36.4%	$0.22+466.7%	-$0.06+40.0%	-$0.10-137.0%	$0.27-30.8%	$0.390.0%	$0.39+2.6%	$0.38+31.0%	$0.29+7.4%	$0.27	N/A	N/A
EPS (Diluted)	$0.02	$0.25-10.7%	$0.28-6.7%	$0.30+36.4%	$0.22+466.7%	-$0.06+40.0%	-$0.10-137.0%	$0.27-30.8%	$0.390.0%	$0.39+2.6%	$0.38+31.0%	$0.29+7.4%	$0.27	N/A	N/A
Diluted Shares (Avg)	N/A	270M+0.4%	269M+1.3%	266M-1.6%	270M-2.7%	277M-2.3%	284M-4.7%	298M+0.2%	297M-0.3%	298M+7.4%	278M+4.4%	266M+4.5%	255M	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$196.9M+3.0%	$190.3M+5.7%	$199.2M+0.8%	$197.7M-0.9%	$191.3M+0.9%	$180.1M-0.6%	$197.6M+2.4%	$199.6M+4.2%
SG&A Expenses	$25.1M+34.5%	$18.1M+6.8%	$18.5M+3.4%	$18.7M+2.0%	$18.7M+3.7%	$16.9M+6.1%	$17.9M+10.7%	$18.4M+14.7%
Operating Income	-$138.7M-494.9%	$29.5M+14.2%	$35.4M-17.5%	$39.3M-13.3%	$35.1M-10.8%	$25.8M-17.0%	$42.9M+5.3%	$45.3M+7.3%
EBITDA	-$88.3M-206.5%	$79.7M+6.9%	$86.0M-2.6%	$86.9M-4.7%	$82.9M-4.5%	$74.6M-3.3%	$88.3M-2.3%	$91.2M+2.7%
Interest Expense	$27.8M+10.7%	$28.1M+4.5%	$25.9M-5.5%	$25.2M-8.1%	$25.1M-0.8%	$26.9M+7.2%	$27.4M+7.8%	$27.4M+8.0%
Income Tax	-$767K-260.5%	-$1.1M-71.6%	$1.1M-8.4%	$1.6M+14.1%	$478K-36.3%	-$619K+5.5%	$1.2M-35.8%	$1.4M+2.3%
Net Income	-$39.6M-447.4%	$3.0M-81.0%	$32.2M+71.2%	$13.6M-40.1%	$11.4M-60.1%	$15.8M+54.5%	$18.8M+18.7%	$22.8M+14.4%
EPS (Basic)	-$0.15-475.0%	$0.01-83.3%	$0.12+71.4%	$0.05-37.5%	$0.04-60.0%	$0.06+100.0%	$0.07+40.0%	$0.08+14.3%
EPS (Diluted)	-$0.15-475.0%	$0.01-80.0%	$0.11+83.3%	$0.05-37.5%	$0.04-60.0%	$0.05+66.7%	$0.06+20.0%	$0.08+14.3%
Diluted Shares (Avg)	269M-0.4%	269M-0.1%	N/A	270M+0.3%	270M+0.5%	270M+0.8%	N/A	270M+1.3%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

ESBA Balance Sheet

ESBA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K
Total Assets	$4.5B-0.9%	$4.5B+6.9%	$4.2B+1.3%	$4.2B-2.8%	$4.3B+3.2%	$4.2B+5.6%	$3.9B-6.3%	$4.2B+6.7%	$3.9B+1.0%	$3.9B+17.9%	$3.3B+0.5%	$3.3B	$975.7M	N/A
Cash & Equivalents	$132.7M-65.6%	$385.5M+11.2%	$346.6M+31.1%	$264.4M-37.6%	$423.7M-19.6%	$526.7M+125.1%	$233.9M+14.1%	$205.0M-55.9%	$464.3M-16.2%	$554.4M+1087.5%	$46.7M+2.1%	$45.7M	N/A	N/A
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$400.0M	$0	$0	$0	$0	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	N/A	N/A
Goodwill	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M	N/A	N/A
Total Liabilities	$2.6B-3.0%	$2.7B+9.6%	$2.5B+0.3%	$2.5B-4.5%	$2.6B+7.4%	$2.4B+21.9%	$2.0B-10.0%	$2.2B+12.9%	$2.0B+2.4%	$1.9B-1.0%	$1.9B+1.3%	$1.9B	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$608.6M-15.1%	$717.2M-5.5%	$759.0M+1.5%	$747.7M-16.8%	$899.0M	N/A	N/A
Total Equity	$1.8B+2.3%	$1.8B+2.9%	$1.7B+2.8%	$1.7B-0.1%	$1.7B-2.7%	$1.7B-11.1%	$1.9B-2.2%	$2.0B+0.7%	$2.0B-0.3%	$2.0B+44.5%	$1.4B-0.6%	$1.4B	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$4.3B+4.8%	$4.4B+7.1%	$4.5B-0.9%	$4.1B-7.5%	$4.1B-8.0%	$4.1B-1.8%	$4.5B+6.9%	$4.4B+5.2%
Cash & Equivalents	$85.6M-9.5%	$68.8M-63.4%	$132.7M-65.6%	$154.1M-63.5%	$94.6M-82.3%	$187.8M-43.7%	$385.5M+11.2%	$421.9M+19.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$325.4M-33.8%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%	$491.5M0.0%
Total Liabilities	$2.5B+8.5%	$2.6B+10.9%	$2.6B-3.0%	$2.3B-13.9%	$2.3B-14.6%	$2.3B-5.6%	$2.7B+9.6%	$2.7B+7.9%
Total Equity	$1.8B0.0%	$1.8B+2.1%	$1.8B+2.3%	$1.8B+2.3%	$1.8B+2.2%	$1.8B+3.5%	$1.8B+2.9%	$1.8B+1.4%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.

ESBA Cash Flow Statement

ESBA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K
Operating Cash Flow	$227.6M	$249.1M-4.5%	$260.9M+12.2%	$232.5M+10.1%	$211.2M-0.6%	$212.5M+16.6%	$182.3M-21.6%	$232.6M-16.6%	$279.0M+43.7%	$194.2M-9.6%	$214.8M+5.7%	$203.2M+46.6%	$138.6M	N/A	N/A
Depreciation & Amortization	N/A	$194.8M+5.4%	$184.8M-2.7%	$189.9M-12.4%	$216.9M+7.5%	$201.8M+5.7%	$191.0M+5.2%	$181.6M+7.8%	$168.5M+4.9%	$160.7M+3.5%	$155.2M-9.5%	$171.5M+17.9%	$145.4M	$42.7M	N/A
Stock-Based Compensation	N/A	$25.2M+16.0%	$21.7M+8.3%	$20.0M-4.7%	$21.0M+3.7%	$20.3M-20.5%	$25.5M+22.2%	$20.9M+11.0%	$18.8M+33.2%	$14.1M+44.9%	$9.7M+77.4%	$5.5M+47.4%	$3.7M	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	$169.2M+96.8%	$86.0M-78.4%	$398.4M+282.8%	$104.1M-59.3%	$255.9M-0.2%	$256.5M+12.4%	$228.2M+15.4%	$197.7M+26.1%	$156.8M-68.5%	$497.7M	$87.7M	N/A
Free Cash Flow	N/A	N/A	N/A	$63.3M-49.4%	$125.2M+167.4%	-$185.9M-337.6%	$78.2M+435.3%	-$23.3M-203.6%	$22.5M+166.3%	-$34.0M-298.9%	$17.1M-63.2%	$46.4M+112.9%	-$359.2M	N/A	N/A
Investing Cash Flow	-$528.7M	-$550.0M-38.5%	-$397.1M-413.5%	-$77.3M+66.5%	-$230.9M-8.5%	-$212.7M-48.6%	-$143.1M-195.6%	$149.7M+123.3%	-$643.0M-188.3%	-$223.0M-22.3%	-$182.4M-28.1%	-$142.3M+52.4%	-$299.1M	N/A	N/A
Financing Cash Flow	$292.6M	$38.2M-75.9%	$158.6M+352.2%	-$62.9M+55.2%	-$140.2M-50.7%	-$93.0M-136.2%	$257.2M+167.4%	-$381.6M-464.7%	$104.6M+283.9%	-$56.9M-112.1%	$470.9M+886.0%	-$59.9M-141.2%	$145.5M	N/A	N/A
Dividends Paid	$39.2M	$39.0M+1.8%	$38.3M+3.1%	$37.1M-3.8%	$38.6M+35.1%	$28.6M-53.1%	$60.9M-51.7%	$126.0M+0.3%	$125.6M-0.3%	$126.0M+10.5%	$114.0M+25.3%	$91.0M+4.3%	$87.2M	N/A	N/A
Share Buybacks	N/A	$8.1M	$0-100.0%	$13.1M-85.5%	$90.2M+93.1%	$46.7M-67.5%	$143.7M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$19.5M-26.9%	$68.9M-17.1%	$33.9M-32.2%	$105.3M+2.4%	$26.7M-28.0%	$83.1M+17.2%	$50.0M+37.3%	$102.8M+14.1%
Depreciation & Amortization	$50.4M+5.4%	$50.2M+3.0%	$50.6M+11.5%	$47.6M+3.7%	$47.8M+0.7%	$48.8M+5.9%	$45.4M-8.5%	$45.9M-1.6%
Stock-Based Compensation	N/A	$5.9M+17.9%	N/A	N/A	N/A	$5.0M+44.4%	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$168.0M+198.7%
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$65.1M-292.1%
Investing Cash Flow	-$69.6M+38.7%	-$64.7M-53.7%	-$361.9M-360.1%	-$32.5M+83.0%	-$113.5M-101.3%	-$42.1M+41.0%	-$78.7M-107.2%	-$190.8M-266.1%
Financing Cash Flow	$72.2M+619.4%	-$64.6M+72.3%	$296.8M+2573.7%	-$11.7M+37.0%	-$13.9M-106.6%	-$233.0M-993.7%	-$12.0M+3.9%	-$18.6M-44.7%
Dividends Paid	$10.0M+3.0%	$9.7M-0.8%	$9.7M+1.5%	$9.8M+1.6%	$9.8M+1.7%	$9.7M+2.4%	$9.6M+51.6%	$9.6M-8.9%
Share Buybacks	N/A	N/A	$6.0M	$0	N/A	N/A	$0	$0

ESBA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ESBA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K
Operating Margin	17.7%-3.0pp	20.7%+0.8pp	19.8%+2.4pp	17.5%+4.8pp	12.7%+3.0pp	9.6%-11.5pp	21.1%-4.9pp	26.1%-1.1pp	27.2%0.0pp	27.2%+4.1pp	23.0%+0.8pp	22.2%	34.1%	N/A
Net Margin	9.5%-1.0pp	10.5%-0.9pp	11.4%+2.7pp	8.7%+10.8pp	-2.1%+1.7pp	-3.8%-15.3pp	11.5%-4.4pp	15.9%-0.6pp	16.5%+0.8pp	15.7%+3.7pp	12.0%+1.0pp	11.0%	18.7%-0.8pp	19.5%
Return on Equity	4.0%-0.5pp	4.5%-0.4pp	4.9%+1.1pp	3.8%+4.5pp	-0.8%+0.5pp	-1.3%-5.6pp	4.3%-1.5pp	5.8%-0.1pp	5.9%+0.6pp	5.4%-0.4pp	5.8%+0.7pp	5.1%	N/A	N/A
Return on Assets	1.6%-0.2pp	1.8%-0.2pp	2.0%+0.5pp	1.5%+1.8pp	-0.3%+0.2pp	-0.5%-2.7pp	2.1%-0.6pp	2.8%-0.2pp	3.0%+0.2pp	2.7%+0.3pp	2.4%+0.3pp	2.1%	5.0%	N/A
Debt-to-Equity	1.45-0.1x	1.53+0.1x	1.440.0x	1.47-0.1x	1.54+0.1x	1.40+0.4x	1.02+0.7x	0.31-0.1x	0.360.0x	0.38-0.2x	0.54-0.1x	0.65	N/A	N/A
Asset Turnover	0.170.0x	0.170.0x	0.180.0x	0.170.0x	0.150.0x	0.150.0x	0.190.0x	0.170.0x	0.180.0x	0.170.0x	0.200.0x	0.19	0.27	N/A
FCF Margin	N/A	N/A	8.6%-8.7pp	17.2%+47.0pp	-29.8%-42.6pp	12.8%+16.0pp	-3.2%-6.3pp	3.1%+7.9pp	-4.8%-7.3pp	2.5%-4.5pp	7.1%+63.6pp	-56.5%	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	-70.5%-88.8pp	15.5%+1.2pp	17.8%-4.0pp	19.9%-2.8pp	18.4%-2.4pp	14.3%-2.8pp	21.7%+0.6pp	22.7%+0.7pp
Net Margin	-20.1%-26.0pp	1.6%-7.2pp	16.2%+6.6pp	6.9%-4.5pp	5.9%-9.1pp	8.8%+3.1pp	9.5%+1.3pp	11.4%+1.0pp
Return on Equity	-2.2%-2.9pp	0.2%-0.7pp	1.8%+0.7pp	0.8%-0.5pp	0.6%-1.0pp	0.9%+0.3pp	1.1%+0.1pp	1.3%+0.1pp
Return on Assets	-0.9%-1.2pp	0.1%-0.3pp	0.7%+0.3pp	0.3%-0.2pp	0.3%-0.4pp	0.4%+0.1pp	0.4%0.0pp	0.5%0.0pp
Debt-to-Equity	1.39+0.1x	1.42+0.1x	1.45-0.1x	1.28-0.2x	1.28-0.3x	1.30-0.1x	1.53+0.1x	1.52+0.1x
Asset Turnover	0.050.0x	0.040.0x	0.040.0x	0.050.0x	0.050.0x	0.040.0x	0.040.0x	0.040.0x
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-32.6%-50.4pp

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
EMPIRE STATE REALTY OP, L.P. SERIES ES ESBA	FY2025	$768.3M	$73.0M	9.5%	$1.1B	—
Hudson Pacific Properties, Inc. HPP	FY2025	$831.1M	-$592.3M	-71.3%	$665.3M	6/100
Douglas Emmett, Inc. DEI	FY2025	$1.0B	$16.3M	1.6%	$1.7B	44/100
COPT Defense Properties CDP	FY2025	$763.9M	$159.5M	20.9%	$3.9B	50/100
SL Green Realty Corp. SLG	FY2025	$1.0B	-$96.9M	-9.7%	$3.8B	27/100
Kilroy Realty Corp. KRC	FY2025	$1.1B	$303	0.0%	$4.0B	34/100

Where EMPIRE STATE REALTY OP, L.P. SERIES ES Ranks

Frequently Asked Questions

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's annual revenue?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) reported $768.3M in total revenue for fiscal year 2025. That is unchanged from the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is EMPIRE STATE REALTY OP, L.P. SERIES ES's revenue growing?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) revenue was essentially unchanged year-over-year, at $768.3M in fiscal year 2025 against $767.9M the year before.

Is EMPIRE STATE REALTY OP, L.P. SERIES ES profitable?

Yes, EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) reported a net income of $73.0M in fiscal year 2025, with a net profit margin of 9.5%.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's EBITDA?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had EBITDA of $330.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's operating margin?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had an operating margin of 17.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's net profit margin?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had a net profit margin of 9.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's return on equity (ROE)?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) has a return on equity of 4.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's operating cash flow?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) generated $249.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are EMPIRE STATE REALTY OP, L.P. SERIES ES's total assets?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had $4.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Does EMPIRE STATE REALTY OP, L.P. SERIES ES buy back shares?

Yes, EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) spent $8.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's debt-to-equity ratio?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had a debt-to-equity ratio of 1.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's return on assets (ROA)?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) had a return on assets of 1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's P/E ratio?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) trades at 124x earnings, its market capitalization divided by net income of $9.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's price-to-sales ratio?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) trades at 1.5x sales, its market capitalization divided by revenue of $784.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is EMPIRE STATE REALTY OP, L.P. SERIES ES's Piotroski F-Score?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) has a Piotroski F-Score of 4 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are EMPIRE STATE REALTY OP, L.P. SERIES ES's earnings high quality?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) has an earnings quality ratio of 3.41x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can EMPIRE STATE REALTY OP, L.P. SERIES ES cover its interest payments?

EMPIRE STATE REALTY OP, L.P. SERIES ES (ESBA) has an interest coverage ratio of 1.32x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.