Highwoods Pptys Inc Financials
This page shows Highwoods Pptys Inc (HIW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Highwoods Pptys Inc has an operating margin of 67.6%, meaning the company retains $68 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 67.0% the prior year.
Highwoods Pptys Inc's revenue declined 2.4% year-over-year, from $825.9M to $806.1M. This contraction results in a growth score of 22/100.
Highwoods Pptys Inc has a moderate D/E ratio of 1.61. This balance of debt and equity financing earns a leverage score of 51/100.
Highwoods Pptys Inc generates a 6.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is up from 4.4% the prior year.
Highwoods Pptys Inc passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Highwoods Pptys Inc generates $2.21 in operating cash flow ($359.2M OCF vs $162.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Highwoods Pptys Inc earns $3.6 in operating income for every $1 of interest expense ($544.7M vs $152.4M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Highwoods Pptys Inc generated $806.1M in revenue in fiscal year 2025. This represents a decrease of 2.4% from the prior year.
Highwoods Pptys Inc's EBITDA was $839.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.5% from the prior year.
Highwoods Pptys Inc reported $162.7M in net income in fiscal year 2025. This represents an increase of 56.0% from the prior year.
Highwoods Pptys Inc earned $1.45 per diluted share (EPS) in fiscal year 2025. This represents an increase of 54.3% from the prior year.
Highwoods Pptys Inc held $27.4M in cash against $0 in long-term debt as of fiscal year 2025.
Highwoods Pptys Inc paid $2.00 per share in dividends in fiscal year 2025.
Highwoods Pptys Inc had 110M shares outstanding in fiscal year 2025. This represents an increase of 2.1% from the prior year.
Highwoods Pptys Inc's operating margin was 67.6% in fiscal year 2025, reflecting core business profitability. This is up 0.5 percentage points from the prior year.
Highwoods Pptys Inc's net profit margin was 20.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.6 percentage points from the prior year.
Highwoods Pptys Inc's ROE was 6.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.
HIW Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $203.4M+0.8% | $201.8M+0.6% | $200.6M+0.1% | $200.4M-2.5% | $205.5M-0.6% | $206.9M-0.1% | $207.1M-0.1% | $207.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $8.5M-5.1% | $9.0M-12.8% | $10.3M-17.2% | $12.5M+22.7% | $10.1M-16.7% | $12.2M+37.4% | $8.9M-5.4% | $9.4M |
| Operating Income | $136.6M+0.5% | $135.8M-0.8% | $136.9M+1.2% | $135.3M+1.0% | $134.1M-2.4% | $137.3M-1.9% | $139.9M-0.8% | $141.0M |
| Interest Expense | $39.7M+3.1% | $38.5M+2.2% | $37.7M+2.8% | $36.6M-1.7% | $37.3M+5.6% | $35.3M+3.1% | $34.2M+0.5% | $34.1M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $29.7M+116.8% | $13.7M-28.7% | $19.2M-80.8% | $100.0M+3227.0% | -$3.2M-108.1% | $39.3M+69.8% | $23.2M-47.2% | $43.9M |
| EPS (Diluted) | $0.25+108.3% | $0.12-29.4% | $0.17-81.3% | $0.91+2375.0% | $-0.04-111.1% | $0.36+71.4% | $0.21-47.5% | $0.40 |
HIW Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.3B+2.2% | $6.1B+1.3% | $6.1B-0.3% | $6.1B+0.8% | $6.0B+0.4% | $6.0B-0.4% | $6.0B-0.1% | $6.0B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $27.4M+4.2% | $26.3M+23.9% | $21.2M+5.4% | $20.1M-10.3% | $22.4M-10.8% | $25.1M+48.6% | $16.9M-0.6% | $17.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $28.3M-6.9% | $30.3M+9.0% | $27.8M-3.3% | $28.8M+1.8% | $28.3M+0.7% | $28.1M+9.8% | $25.6M+24.5% | $20.6M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.8B+4.1% | $3.7B+2.0% | $3.6B+0.5% | $3.6B0.0% | $3.6B+2.4% | $3.5B-0.2% | $3.5B+0.8% | $3.5B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $2.4B-0.1% | $2.4B+0.4% | $2.4B-1.6% | $2.4B+2.1% | $2.4B-3.0% | $2.4B-0.8% | $2.5B-0.7% | $2.5B |
| Retained Earnings | -$870.1M-3.1% | -$843.8M-5.1% | -$802.6M-4.6% | -$767.0M+5.4% | -$810.6M-16.1% | -$698.0M-2.2% | -$683.2M-4.7% | -$652.4M |
HIW Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $99.7M+3.1% | $96.7M-17.0% | $116.5M+151.6% | $46.3M-55.3% | $103.7M+0.9% | $102.8M-0.3% | $103.1M-10.7% | $115.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$201.3M-28.1% | -$157.2M-186.1% | -$54.9M-101.9% | -$27.2M+72.1% | -$97.5M-151.7% | -$38.7M+38.3% | -$62.8M-1087.0% | $6.4M |
| Financing Cash Flow | $102.9M+65.3% | $62.3M+201.9% | -$61.1M-360.1% | -$13.3M-104.0% | -$6.5M+87.8% | -$53.2M-27.0% | -$41.9M+65.4% | -$121.1M |
| Dividends Paid | $55.0M+1.7% | $54.0M+0.2% | $53.9M+0.2% | $53.8M+0.6% | $53.5M+1.2% | $52.8M0.0% | $52.8M+0.2% | $52.7M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HIW Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q4'23 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 67.2%-0.2pp | 67.3%-0.9pp | 68.3%+0.7pp | 67.5%+2.3pp | 65.2%-1.2pp | 66.4%-1.2pp | 67.5%-0.5pp | 68.0% |
| Net Margin | 14.6%+7.8pp | 6.8%-2.8pp | 9.6%-40.3pp | 49.9%+51.5pp | -1.6%-20.6pp | 19.0%+7.8pp | 11.2%-10.0pp | 21.2% |
| Return on Equity | 1.3%+0.7pp | 0.6%-0.2pp | 0.8%-3.3pp | 4.2% | N/A | 1.6%+0.7pp | 0.9%-0.8pp | 1.8% |
| Return on Assets | 0.5%+0.3pp | 0.2%-0.1pp | 0.3%-1.3pp | 1.7%+1.7pp | -0.1%-0.7pp | 0.7%+0.3pp | 0.4%-0.4pp | 0.7% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.61+0.1 | 1.55+0.0 | 1.52+0.0 | 1.49-0.0 | 1.52+0.1 | 1.440.0 | 1.44+0.0 | 1.41 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Highwoods Pptys Inc's annual revenue?
Highwoods Pptys Inc (HIW) reported $806.1M in total revenue for fiscal year 2025. This represents a -2.4% change compared to 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 Highwoods Pptys Inc's revenue growing?
Highwoods Pptys Inc (HIW) revenue declined by 2.4% year-over-year, from $825.9M to $806.1M in fiscal year 2025.
Is Highwoods Pptys Inc profitable?
Yes, Highwoods Pptys Inc (HIW) reported a net income of $162.7M in fiscal year 2025, with a net profit margin of 20.2%.
What is Highwoods Pptys Inc's earnings per share (EPS)?
Highwoods Pptys Inc (HIW) reported diluted earnings per share of $1.45 for fiscal year 2025. This represents a 54.3% 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.
What is Highwoods Pptys Inc's EBITDA?
Highwoods Pptys Inc (HIW) had EBITDA of $839.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Highwoods Pptys Inc's operating margin?
Highwoods Pptys Inc (HIW) had an operating margin of 67.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Highwoods Pptys Inc's net profit margin?
Highwoods Pptys Inc (HIW) had a net profit margin of 20.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Highwoods Pptys Inc pay dividends?
Yes, Highwoods Pptys Inc (HIW) paid $2.00 per share in dividends during fiscal year 2025.
What is Highwoods Pptys Inc's return on equity (ROE)?
Highwoods Pptys Inc (HIW) has a return on equity of 6.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Highwoods Pptys Inc's operating cash flow?
Highwoods Pptys Inc (HIW) generated $359.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Highwoods Pptys Inc's total assets?
Highwoods Pptys Inc (HIW) had $6.3B in total assets as of fiscal year 2025, including both current and long-term assets.
How many shares does Highwoods Pptys Inc have outstanding?
Highwoods Pptys Inc (HIW) had 110M shares outstanding as of fiscal year 2025.
What is Highwoods Pptys Inc's debt-to-equity ratio?
Highwoods Pptys Inc (HIW) had a debt-to-equity ratio of 1.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Highwoods Pptys Inc's return on assets (ROA)?
Highwoods Pptys Inc (HIW) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Highwoods Pptys Inc's Piotroski F-Score?
Highwoods Pptys Inc (HIW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Highwoods Pptys Inc's earnings high quality?
Highwoods Pptys Inc (HIW) has an earnings quality ratio of 2.21x, 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 Highwoods Pptys Inc cover its interest payments?
Highwoods Pptys Inc (HIW) has an interest coverage ratio of 3.6x, meaning it can adequately 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.
How financially healthy is Highwoods Pptys Inc?
Highwoods Pptys Inc (HIW) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.