What is Highwoods Properties Inc.'s earnings per share (EPS)?

Highwoods Properties 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.

Highwoods Properties Inc. (HIW) Financials

HIW

Trailing 12 months to June 30, 2026

Revenue $835.5M +3.0% YoY

Net Income $166.4M +31.5% YoY

EPS (Diluted) $1.52 +28.8% YoY

Operating Cash Flow $384.4M +5.6% YoY

Market Cap $3.4B as of Oct 22, 2026

Price / Sales 4.1x on $835.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings 20.6x on $166.4M net income, trailing 12 months to June 30, 2026

Price / Book 1.4x on $2.4B 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 Oct 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 Jul 28, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HIW SEC filings page.

Highwoods Properties Inc. (HIW) reported $835.5M in revenue over the twelve months to Jun 30, 2026, up 3.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 HIW FY2025 2026-10-22

Highwoods is an asset-heavy property business whose liabilities have grown while revenue and cash generation have weakened.

FY2025 earnings recovered without matching cash improvement: net income rose 56.0% to $162.7M, while operating cash flow fell 11.0% to $359.2M. The resulting cash-to-earnings relationship remained positive at 220.8%, but the divergence indicates that the earnings rebound was not primarily accompanied by stronger cash production.

Balance-sheet leverage is building as total assets reached $6.3B while total liabilities rose 6.7% to $3.8B in FY2025. Liabilities represented 61.2% of assets and stood at 1.6x equity, up from 59.7% and 1.5x in FY2024, respectively.

Operating scale is not expanding with the asset base: FY2025 revenue declined 2.4% while assets increased 4.1%, pointing to less revenue generated per dollar invested in the portfolio. Dividends rose 2.1% even as operating cash flow fell 11.0%, leaving distributions less aligned with that year's cash movement.

Financial Health Signals

Financial Health Score (5 of 6 dimensions) 71/100

Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 5 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Highwoods Properties Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

FFO Margin

FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Highwoods Properties Inc. scores 80/100 on it among other REITs.

FFO Growth

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Highwoods Properties Inc. scores 36/100 on it among other REITs.

Leverage

n/a

Not available for Highwoods Properties Inc., so it is left out of the overall score, which averages the 5 of 6 dimensions that can be computed.

Interest Cov.

Highwoods Properties Inc.'s operating income of $544.7M covered its interest expense of $152.4M 3.57 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Highwoods Properties Inc. scores 83/100 among other REITs.

AFFO Margin

AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Highwoods Properties Inc. scores 83/100 on it among other REITs.

Dividend Cov.

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Highwoods Properties Inc. scores 74/100 on it among other REITs.

Piotroski F-Score Partial

4/6

Highwoods Properties Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality Cash-Backed

2.28x

For every $1 of reported earnings, Highwoods Properties Inc. generates $2.28 in operating cash flow ($359.2M OCF vs $157.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.57x

Highwoods Properties Inc. earns $3.57 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

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Earnings & Revenue

Revenue

$216.4M

YoY+7.9%

QoQ+1.1%

5Y CAGR+3.1%

10Y CAGR+2.6%

Highwoods Properties Inc. generated $216.4M in revenue in Q2 2026. This represents an increase of 7.9% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

EBITDA

$225.3M

YoY+6.5%

QoQ+2.2%

5Y CAGR+3.3%

Highwoods Properties Inc.'s EBITDA was $225.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.5% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.

Net Income

$93.5M

YoY+411.6%

QoQ+198.0%

5Y CAGR+9.5%

10Y CAGR+11.4%

Highwoods Properties Inc. reported $93.5M in net income in Q2 2026. This represents an increase of 411.6% from the same quarter a year earlier. Against the prior quarter it is up 198.0%.

EPS (Diluted)

$0.85

YoY+400.0%

QoQ+193.1%

5Y CAGR+8.3%

10Y CAGR+10.3%

Highwoods Properties Inc. earned $0.85 per diluted share (EPS) in Q2 2026. This represents an increase of 400.0% from the same quarter a year earlier. Against the prior quarter it is up 193.1%.

Cash & Balance Sheet

Cash & Debt

$145.4M

YoY+586.0%

QoQ+348.4%

5Y CAGR+86.0%

10Y CAGR+50.5%

Highwoods Properties Inc. held $145.4M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Shares Outstanding

110M

YoY+2.1%

QoQ0.0%

5Y CAGR+1.1%

10Y CAGR+1.1%

Highwoods Properties Inc. had 110M shares outstanding in Q2 2026. This represents an increase of 2.1% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Operating Margin

67.6%

YoY-0.7pp

QoQ+0.8pp

5Y change-2.1pp

Highwoods Properties Inc.'s operating margin was 67.6% in Q2 2026, reflecting core business profitability. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Net Margin

43.2%

YoY+34.1pp

QoQ+28.5pp

5Y change+11.2pp

10Y change+24.2pp

Highwoods Properties Inc.'s net profit margin was 43.2% in Q2 2026, showing the share of revenue converted to profit. This is up 34.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 28.5 percentage points.

Return on Equity

3.9%

YoY+3.1pp

QoQ+2.6pp

5Y change+1.4pp

10Y change+2.4pp

Highwoods Properties Inc.'s quarterly ROE was 3.9% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Gross Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

HIW 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.

HIW 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	FY1310-K	FY1210-K	FY1110-K
Revenue	$835.5M	$806.1M-2.4%	$825.9M-1.0%	$834.0M+0.6%	$828.9M+7.9%	$768.0M+4.2%	$736.9M+0.1%	$736.0M+2.2%	$720.0M+2.5%	$702.7M+5.6%	$665.6M+10.1%	$604.7M+8.8%	$555.9M+10.1%	$505.0M+4.1%	$485.0M+12.3%	$432.0M
SG&A Expenses	$40.9M	$40.3M-3.8%	$41.9M-2.2%	$42.9M+1.4%	$42.3M+4.2%	$40.6M-1.2%	$41.0M-6.9%	$44.1M+10.2%	$40.0M+0.9%	$39.6M+3.9%	$38.2M+1.4%	$37.6M+6.8%	$35.3M-3.1%	$36.4M-2.7%	$37.4M+4.6%	$35.7M
Operating Income	$561.6M	$544.7M-1.6%	$553.7M-2.0%	$565.2M-0.7%	$569.1M+7.1%	$531.6M+5.2%	$505.1M+3.6%	$487.5M+2.1%	$477.6M+2.5%	$465.8M+7.2%	$434.5M+11.8%	$388.7M+11.1%	$350.0M+9.1%	$320.8M+4.1%	$308.3M+12.3%	$274.6M
EBITDA	N/A	$839.7M-1.5%	$852.7M-1.4%	$864.6M+0.9%	$856.7M+8.3%	$790.8M+5.9%	$746.7M+0.6%	$742.0M+4.9%	$707.6M+2.0%	$693.7M+6.0%	$654.7M+10.8%	$590.6M+11.3%	$530.6M+9.7%	$483.8M+6.4%	$454.7M+13.1%	$402.1M
Interest Expense	$161.5M	$152.4M+3.6%	$147.2M+7.7%	$136.7M+29.7%	$105.4M+22.8%	$85.9M+6.0%	$81.0M-0.8%	$81.6M+14.3%	$71.4M+3.4%	$69.1M-9.8%	$76.6M-10.9%	$86.1M+1.1%	$85.1M-7.4%	$91.9M-4.4%	$96.1M+0.6%	$95.5M
Net Income	$166.4M	$157.3M+57.6%	$99.8M-31.8%	$146.2M-6.6%	$156.6M-49.6%	$310.8M-9.9%	$344.9M+156.6%	$134.4M-20.6%	$169.3M-7.4%	$182.9M-65.0%	$521.8M+451.7%	$94.6M-12.8%	$108.5M-11.8%	$122.9M+59.5%	$77.1M+99.3%	$38.7M
EPS (Basic)	N/A	$1.45+54.3%	$0.94-32.4%	$1.39-6.7%	$1.49-50.0%	$2.98-10.2%	$3.32+155.4%	$1.30-20.7%	$1.64-7.9%	$1.78-66.4%	$5.30+430.0%	$1.00-16.7%	$1.20-16.7%	$1.44+41.2%	$1.02+88.9%	$0.54
EPS (Diluted)	$1.52	$1.45+54.3%	$0.94-32.4%	$1.39-6.7%	$1.49-50.0%	$2.98-10.2%	$3.32+155.4%	$1.30-20.7%	$1.64-7.9%	$1.78-66.4%	$5.30+430.0%	$1.00-16.0%	$1.19-17.4%	$1.44+41.2%	$1.02+88.9%	$0.54
Diluted Shares (Avg)	N/A	111M+2.1%	108M+0.5%	108M+0.2%	108M+0.5%	107M+0.3%	107M+0.3%	106M+0.2%	106M+0.6%	106M+4.1%	101M+4.1%	97M+3.8%	94M+5.6%	89M+11.5%	80M+4.6%	76M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$216.4M+7.9%	$214.0M+6.8%	$203.4M-1.1%	$201.8M-1.2%	$200.6M-2.0%	$200.4M-5.2%	$205.5M-0.6%	$204.3M-1.3%
SG&A Expenses	$9.9M-4.1%	$13.4M+7.8%	$8.5M-15.9%	$9.0M-9.1%	$10.3M+10.3%	$12.5M-0.3%	$10.1M-16.7%	$9.9M+11.6%
Operating Income	$146.2M+6.8%	$142.9M+5.6%	$136.6M+1.9%	$135.8M-2.0%	$136.9M-2.3%	$135.3M-3.9%	$134.1M-2.4%	$138.6M-0.9%
EBITDA	$225.3M+6.5%	$220.5M+6.6%	$211.6M+2.4%	$209.7M-3.7%	$211.6M-1.1%	$206.8M-3.6%	$206.6M-4.5%	$217.7M+1.4%
Interest Expense	$41.7M+10.7%	$41.7M+13.8%	$39.7M+6.4%	$38.5M+2.7%	$37.7M+4.9%	$36.6M+0.2%	$37.3M+5.6%	$37.5M+9.4%
Net Income	$93.5M+411.6%	$31.4M-67.8%	$28.7Mn/m	$12.9M-11.5%	$18.3M-70.9%	$97.4M+273.9%	-$3.7M-109.8%	$14.6M-34.1%
EPS (Basic)	$0.85+400.0%	$0.29-68.1%	$0.26n/m	$0.12-14.3%	$0.17-71.2%	$0.91+264.0%	-$0.04-111.1%	$0.14-33.3%
EPS (Diluted)	$0.85+400.0%	$0.29-68.1%	$0.26n/m	$0.12-14.3%	$0.17-71.2%	$0.91+264.0%	-$0.04-111.1%	$0.14-33.3%
Diluted Shares (Avg)	112M+2.1%	112M+2.0%	N/A	111M+2.2%	110M+1.7%	110M+1.7%	N/A	108M+0.3%

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

HIW Balance Sheet

HIW 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	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.3B+4.1%	$6.0B+0.4%	$6.0B-1.0%	$6.1B+6.5%	$5.7B+9.3%	$5.2B+1.4%	$5.1B+9.9%	$4.7B+1.1%	$4.6B+1.4%	$4.6B+1.7%	$4.5B+12.2%	$4.0B+5.0%	$3.8B+13.6%	$3.4B+5.3%	$3.2B
Cash & Equivalents	$27.4M+22.1%	$22.4M-10.8%	$25.1M+17.6%	$21.4M-7.8%	$23.2M-78.8%	$109.3M+1050.2%	$9.5M+152.2%	$3.8M+15.2%	$3.3M-93.4%	$49.5M+882.7%	$5.0M-43.0%	$8.8M-13.3%	$10.2M-26.1%	$13.8M+23.2%	$11.2M
Accounts Receivable	$28.3M-0.1%	$28.3M+0.7%	$28.1M+10.3%	$25.5M+82.0%	$14.0M-49.1%	$27.5M+17.6%	$23.4M-9.9%	$26.0M+6.4%	$24.4M+40.4%	$17.4M-40.3%	$29.1M-40.1%	$48.6M+83.7%	$26.4M+14.5%	$23.1M-23.3%	$30.1M
Total Liabilities	$3.8B+6.7%	$3.6B+2.4%	$3.5B+0.5%	$3.5B+13.4%	$3.1B+12.6%	$2.7B-3.2%	$2.8B+22.8%	$2.3B+2.8%	$2.2B-0.9%	$2.3B-17.4%	$2.7B+18.2%	$2.3B+5.3%	$2.2B+6.9%	$2.1B-1.1%	$2.1B
Total Equity	$2.4B+0.8%	$2.4B-3.0%	$2.4B-1.8%	$2.5B0.0%	$2.5B+6.0%	$2.3B+8.5%	$2.2B-4.2%	$2.2B+1.2%	$2.2B+3.9%	$2.1B+33.4%	$1.6B+4.5%	$1.5B+3.8%	$1.5B+27.3%	$1.2B+18.1%	$982.2M
Retained Earnings	-$870.1Mn/m	-$810.6Mn/m	-$698.0Mn/m	-$633.2Mn/m	-$579.6Mn/m	-$686.2Mn/m	-$831.8Mn/m	-$769.3Mn/m	-$747.3Mn/m	-$749.4Mn/m	-$1.0Bn/m	-$957.4Mn/m	-$920.4Mn/m	-$897.4Mn/m	-$845.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$6.5B+6.8%	$6.6B+8.6%	$6.3B+4.1%	$6.1B+1.9%	$6.1B+1.5%	$6.1B+1.0%	$6.0B+0.4%	$6.0B+0.1%
Cash & Equivalents	$145.4M+586.0%	$32.4M+61.3%	$27.4M+22.1%	$26.3M+11.0%	$21.2M-21.5%	$20.1M+22.4%	$22.4M-10.8%	$23.6M+39.9%
Accounts Receivable	$31.5M+13.3%	$29.8M+3.5%	$28.3M-0.1%	$30.3M+16.3%	$27.8M-8.5%	$28.8M-16.4%	$28.3M+0.7%	$26.1M+2.0%
Total Liabilities	$3.8B+5.7%	$4.0B+10.7%	$3.8B+6.7%	$3.7B+2.7%	$3.6B+3.4%	$3.6B+1.3%	$3.6B+2.4%	$3.6B+1.9%
Total Equity	$2.4B+0.8%	$2.4B-1.7%	$2.4B+0.8%	$2.4B+0.9%	$2.4B-1.7%	$2.4B+0.3%	$2.4B-3.0%	$2.4B-3.8%
Retained Earnings	-$855.4Mn/m	-$893.7Mn/m	-$870.1Mn/m	-$843.8Mn/m	-$802.6Mn/m	-$767.0Mn/m	-$810.6Mn/m	-$753.4Mn/m

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

HIW Cash Flow Statement

HIW 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	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$384.4M	$359.2M-11.0%	$403.6M+4.3%	$387.0M-8.3%	$421.8M+1.7%	$414.6M+15.7%	$358.2M-2.1%	$365.8M+2.0%	$358.6M+1.7%	$352.5M+15.3%	$305.8M+5.9%	$288.9M+8.2%	$266.9M+4.1%	$256.4M+32.6%	$193.4M-1.0%	$195.4M
Depreciation & Amortization	N/A	$295.0M-1.4%	$299.0M-0.1%	$299.4M+4.1%	$287.6M+10.9%	$259.3M+7.3%	$241.6M-5.1%	$254.5M+10.7%	$230.0M+0.9%	$227.8M+3.5%	$220.1M+9.0%	$201.9M+11.8%	$180.6M+10.9%	$162.9M+11.3%	$146.4M+14.8%	$127.5M
Stock-Based Compensation	N/A	$8.2M+2.6%	$8.0M+14.5%	$7.0M-7.5%	$7.6M-12.7%	$8.6M+39.2%	$6.2M-13.5%	$7.2M-3.8%	$7.5M+11.6%	$6.7M+7.1%	$6.3M-9.2%	$6.9M-0.8%	$6.9M+0.6%	$6.9M-9.4%	$7.6M+24.9%	$6.1M
Investing Cash Flow	-$460.2M	-$440.7Mn/m	-$302.4Mn/m	-$169.7Mn/m	-$614.8Mn/m	-$287.7M-359.9%	$110.7Mn/m	-$607.4Mn/m	-$306.7Mn/m	-$200.3M-192.6%	$216.3Mn/m	-$654.2Mn/m	-$328.2Mn/m	-$356.6Mn/m	-$238.8Mn/m	-$215.5M
Financing Cash Flow	$201.8M	$90.8Mn/m	-$99.0Mn/m	-$205.4M-209.3%	$187.9Mn/m	-$284.9Mn/m	-$294.3M-219.5%	$246.2Mn/m	-$130.1Mn/m	-$142.5Mn/m	-$465.2M-228.7%	$361.5M+503.3%	$59.9M-38.0%	$96.6M+101.2%	$48.0M+181.2%	$17.1M
Dividends Paid	$219.1M	$216.7M+2.1%	$212.4M+0.6%	$211.0M+0.4%	$210.2M+2.9%	$204.2M+2.4%	$199.3M+1.2%	$196.9M+2.9%	$191.3M+5.8%	$180.8M+8.4%	$166.9M+4.1%	$160.3M+4.0%	$154.2M+5.6%	$146.0M+13.5%	$128.7M+4.8%	$122.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$125.2M+7.5%	$62.8M+35.7%	$99.7M-3.9%	$96.7M-0.8%	$116.5M-10.3%	$46.3M-36.0%	$103.7M+0.9%	$97.5M-5.4%
Depreciation & Amortization	$79.1M+5.9%	$77.5M+8.6%	$75.0M+3.4%	$73.9M-6.6%	$74.7M+1.3%	$71.4M-3.1%	$72.5M-8.2%	$79.1M+5.8%
Stock-Based Compensation	$1.0M-23.1%	$6.5M+29.9%	N/A	$1.2M+20.0%	$1.3M+18.2%	$5.0M+2.8%	N/A	$1.0M+25.0%
Investing Cash Flow	$238.5Mn/m	-$340.2Mn/m	-$201.3Mn/m	-$157.2Mn/m	-$54.9M-1059.8%	-$27.2Mn/m	-$97.5Mn/m	-$149.0Mn/m
Financing Cash Flow	-$250.3Mn/m	$286.9Mn/m	$102.9Mn/m	$62.3M+28.0%	-$61.1Mn/m	-$13.3Mn/m	-$6.5Mn/m	$48.6Mn/m
Dividends Paid	$55.2M+2.3%	$55.0M+2.1%	$55.0M+2.8%	$54.0M+2.0%	$53.9M+1.7%	$53.8M+1.8%	$53.5M+1.2%	$53.0M+0.3%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

HIW 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.

HIW 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	FY1310-K	FY1210-K	FY1110-K
Operating Margin	67.6%+0.5pp	67.0%-0.7pp	67.8%-0.9pp	68.7%-0.6pp	69.2%+0.7pp	68.5%+2.3pp	66.2%-0.1pp	66.3%0.0pp	66.3%+1.0pp	65.3%+1.0pp	64.3%+1.3pp	63.0%-0.6pp	63.5%0.0pp	63.6%0.0pp	63.6%
Net Margin	19.5%+7.4pp	12.1%-5.5pp	17.5%-1.4pp	18.9%-21.6pp	40.5%-6.3pp	46.8%+28.5pp	18.3%-5.2pp	23.5%-2.5pp	26.0%-52.4pp	78.4%+62.8pp	15.6%-3.9pp	19.5%-4.8pp	24.3%+8.5pp	15.9%+6.9pp	8.9%
Return on Equity	6.6%+2.4pp	4.2%-1.8pp	6.0%-0.3pp	6.3%-6.2pp	12.6%-2.2pp	14.8%+8.5pp	6.3%-1.3pp	7.5%-0.7pp	8.2%-16.2pp	24.4%+18.5pp	5.9%-1.2pp	7.1%-1.2pp	8.3%+1.7pp	6.6%+2.7pp	3.9%
Return on Assets	2.5%+0.9pp	1.7%-0.8pp	2.4%-0.1pp	2.6%-2.9pp	5.5%-1.2pp	6.6%+4.0pp	2.6%-1.0pp	3.6%-0.3pp	4.0%-7.5pp	11.4%+9.3pp	2.1%-0.6pp	2.7%-0.5pp	3.2%+0.9pp	2.3%+1.1pp	1.2%
Liabilities-to-Equity	1.61+0.1x	1.52+0.1x	1.440.0x	1.41+0.2x	1.24+0.1x	1.17-0.1x	1.32+0.3x	1.030.0x	1.010.0x	1.06-0.7x	1.71+0.2x	1.510.0x	1.49-0.3x	1.78-0.3x	2.12
Asset Turnover	0.130.0x	0.140.0x	0.140.0x	0.140.0x	0.130.0x	0.140.0x	0.140.0x	0.150.0x	0.150.0x	0.150.0x	0.130.0x	0.140.0x	0.130.0x	0.140.0x	0.14

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Margin	67.6%-0.7pp	66.8%-0.8pp	67.2%+1.9pp	67.3%-0.5pp	68.3%-0.2pp	67.5%+0.9pp	65.2%-1.2pp	67.8%+0.3pp
Net Margin	43.2%+34.1pp	14.6%-34.0pp	14.1%+15.9pp	6.4%-0.7pp	9.1%-21.6pp	48.6%+36.3pp	-1.8%-20.2pp	7.1%-3.6pp
Return on Equity	3.9%+3.1pp	1.3%-2.7pp	1.2%+1.4pp	0.5%-0.1pp	0.8%-1.8pp	4.0%+3.0pp	-0.2%-1.7pp	0.6%-0.3pp
Return on Assets	1.4%+1.1pp	0.5%-1.1pp	0.5%+0.5pp	0.2%0.0pp	0.3%-0.8pp	1.6%+1.2pp	-0.1%-0.7pp	0.2%-0.1pp
Liabilities-to-Equity	1.60+0.1x	1.68+0.2x	1.61+0.1x	1.550.0x	1.52+0.1x	1.490.0x	1.52+0.1x	1.52+0.1x
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Current Ratio, Debt-to-Equity, FCF Margin.

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
Highwoods Properties Inc. HIW	FY2025	$806.1M	$157.3M	19.5%	$3.4B	71/100
COPT Defense Properties CDP	FY2025	$763.9M	$151.7M	19.9%	$3.9B	74/100
Douglas Emmett, Inc. DEI	FY2025	$1.0B	$16.3M	1.6%	$2.0B	61/100
Cousins Properties Inc. CUZ	FY2025	$993.8M	$40.5M	4.1%	$4.7B	70/100
Kilroy Realty Corp. KRC	FY2025	$1.1B	$276.1M	24.8%	$4.2B	76/100
SL Green Realty Corp. SLG	FY2025	$1.0B	-$96.9M	-9.7%	$3.8B	41/100

Where Highwoods Properties Inc. Ranks

Frequently Asked Questions

What is Highwoods Properties Inc.'s annual revenue?

Highwoods Properties 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 Properties Inc.'s revenue growing?

Highwoods Properties Inc. (HIW) revenue declined by 2.4% year-over-year, from $825.9M to $806.1M in fiscal year 2025.

Is Highwoods Properties Inc. profitable?

Yes, Highwoods Properties Inc. (HIW) reported a net income of $166.4M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $157.3M, with a net profit margin of 19.5%.

What is Highwoods Properties Inc.'s EBITDA?

Highwoods Properties Inc. (HIW) had EBITDA of $839.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Highwoods Properties Inc.'s operating margin?

Highwoods Properties 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 Properties Inc.'s net profit margin?

Highwoods Properties Inc. (HIW) had a net profit margin of 19.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Highwoods Properties Inc.'s return on equity (ROE)?

Highwoods Properties Inc. (HIW) has a return on equity of 6.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Highwoods Properties Inc.'s operating cash flow?

Highwoods Properties Inc. (HIW) generated $359.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Highwoods Properties Inc.'s total assets?

Highwoods Properties 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 Properties Inc. have outstanding?

Highwoods Properties Inc. (HIW) had 110M shares outstanding as of fiscal year 2025.

What is Highwoods Properties Inc.'s liabilities-to-equity ratio?

Highwoods Properties Inc. (HIW) had a liabilities-to-equity ratio of 1.61 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

What is Highwoods Properties Inc.'s return on assets (ROA)?

Highwoods Properties Inc. (HIW) had a return on assets of 2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Highwoods Properties Inc.'s P/E ratio?

Highwoods Properties Inc. (HIW) trades at 20.6x earnings, its market capitalization divided by $166.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Highwoods Properties Inc.'s price-to-sales ratio?

Highwoods Properties Inc. (HIW) trades at 4.1x sales, its market capitalization divided by $835.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.4B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Highwoods Properties Inc.'s Piotroski F-Score?

Highwoods Properties Inc. (HIW) has a Piotroski F-Score of 4 out of 6 computable signals; 3 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 Highwoods Properties Inc.'s earnings high quality?

Highwoods Properties Inc. (HIW) has an earnings quality ratio of 2.28x, 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 Properties Inc. cover its interest payments?

Highwoods Properties Inc. (HIW) has an interest coverage ratio of 3.57x, 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 Properties Inc.?

Highwoods Properties Inc. (HIW) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its REITs peer group. The score is the average of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Highwoods Properties Inc. it averages the 5 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.