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Piedmont Realty Trust, Inc. (PDM) Financials

PDM
Trailing 12 months to March 31, 2026
Revenue $565.6M -0.5% YoY
Net Income -$86.4M -40.8% YoY
EPS (Diluted) -$0.70 -42.9% YoY
Operating Cash Flow $165.0M -7.6% YoY
Market Cap $1.1B as of Oct 15, 2026
Price / Sales 2.0x on $565.6M revenue, trailing 12 months to March 31, 2026
Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to March 31, 2026
Price / Book 0.8x on $1.5B equity, Q1 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 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the PDM SEC filings page.

Piedmont Realty Trust, Inc. (PDM) reported $565.6M in revenue over the twelve months to Mar 31, 2026, down 0.5% 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 PDM FY2025

Revenue has stayed roughly flat, but rising leverage and interest costs are squeezing cash generation and reported equity.

From FY2022 to FY2025, interest expense rose from $65.7M to $128.0M. Over the same period, operating cash flow fell from $215.2M to $140.6M while revenue stayed broadly flat, making financing costs a clearer pressure on cash economics than top-line scale.

Net income and cash flow tell different stories: FY2025's net loss of $83.6M coexisted with operating cash flow of $140.6M. Depreciation and amortization reached $181.2M while investing cash outflows were $175.3M, indicating that non-cash property charges support operating cash flow but do not eliminate the need for substantial reinvestment.

The balance sheet is becoming more debt-dependent: debt-to-equity rose from 1.1x in FY2022 to 1.5x in FY2025. The equity base also shrank while revenue stayed broadly flat, and the dividend per share fell from $0.50 to $0.125, consistent with tighter financial flexibility.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

FFO Margin FFOGrowth Leverage Interest Cov. AFFOMargin DividendCov. 32 / 100
Financial Health Score 32/100
Scored as: REITs peer group

Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Piedmont Realty Trust, 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
38

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. Piedmont Realty Trust, Inc. scores 38/100 on it among other REITs.

FFO Growth
20

FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Piedmont Realty Trust, Inc. scores 20/100 on it among other REITs.

Leverage
0

Not available for Piedmont Realty Trust, Inc., and counted as zero in the overall score.

Interest Cov.
0

Not available for Piedmont Realty Trust, Inc., and counted as zero in the overall score.

AFFO Margin
45

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. Piedmont Realty Trust, Inc. scores 45/100 on it among other REITs.

Dividend Cov.
89

Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Piedmont Realty Trust, Inc. scores 89/100 on it among other REITs.

Piotroski F-Score Partial
3/7

Piedmont Realty Trust, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed
N/A

Piedmont Realty Trust, Inc. reported a net loss of $83.6M while generating $140.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$143.3M
YoY+0.4%
QoQ+0.3%
5Y CAGR+2.1%
10Y CAGR+0.4%

Piedmont Realty Trust, Inc. generated $143.3M in revenue in Q1 2026. This represents an increase of 0.4% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.

Net Income
-$12.9M
YoY-27.9%
QoQ+70.1%

Piedmont Realty Trust, Inc. reported -$12.9M in net income in Q1 2026. This represents a decrease of 27.9% from the same quarter a year earlier. Against the prior quarter it is up 70.1%.

EPS (Diluted)
-$0.10
YoY-25.0%
QoQ+71.4%

Piedmont Realty Trust, Inc. earned -$0.10 per diluted share (EPS) in Q1 2026. This represents a decrease of 25.0% from the same quarter a year earlier. Against the prior quarter it is up 71.4%.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt
$2.3M
YoY-21.7%
QoQ+211.8%
5Y CAGR-26.6%
10Y CAGR-7.0%

Piedmont Realty Trust, Inc. held $2.3M in cash against $2.3B in long-term debt as of Q1 2026.

Shares Outstanding
125M
YoY+0.5%
QoQ+0.1%
5Y CAGR+0.2%
10Y CAGR-1.5%

Piedmont Realty Trust, Inc. had 125M shares outstanding in Q1 2026. This represents an increase of 0.5% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Net Margin
-9.0%
YoY-1.9pp
QoQ+21.3pp
5Y change-16.3pp
10Y change-16.5pp

Piedmont Realty Trust, Inc.'s net profit margin was -9.0% in Q1 2026, showing the share of revenue converted to profit. This is down 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 21.3 percentage points.

Return on Equity
-0.9%
YoY-0.2pp
QoQ+2.0pp
5Y change-1.4pp
10Y change-1.4pp

Piedmont Realty Trust, Inc.'s ROE was -0.9% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.

Gross Margin

Not reported for Q1 2026.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

PDM 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.

PDM quarterly income statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Revenue$143.3M+0.4%$142.9M-0.3%$139.2M-0.1%$140.3M-2.1%$142.7M-1.3%$143.2M-1.4%$139.3M-5.2%$143.3M+0.1%
SG&A Expenses$7.9M+4.6%$7.5M-41.1%$7.6M+11.7%$8.0M-4.7%$7.6M-0.6%$12.7M+76.3%$6.8M-3.3%$8.4M+14.7%
Interest Expense$31.9M+0.8%$32.4M+2.5%$32.0M-0.3%$32.0M+8.1%$31.7M+6.6%$31.6M+11.2%$32.1M+17.2%$29.6M+26.4%
Net Income-$12.9M-27.9%-$43.2M-44.3%-$13.5M-16.9%-$16.8M-71.4%-$10.1M+63.6%-$30.0M-6.9%-$11.5M+32.2%-$9.8M-393.4%
EPS (Basic)-$0.10-25.0%-$0.35-45.8%-$0.11-22.2%-$0.14-75.0%-$0.08+63.6%-$0.24-4.3%-$0.09+35.7%-$0.08-300.0%
EPS (Diluted)-$0.10-25.0%-$0.35-45.8%-$0.11-22.2%-$0.14-75.0%-$0.08+63.6%-$0.24-4.3%-$0.09+35.7%-$0.08-300.0%
Diluted Shares (Avg)125M+0.4%N/A125M+0.4%124M+0.4%124M+0.4%N/A124M+0.2%124M+0.2%

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

PDM Balance Sheet

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.

PDM quarterly balance sheet
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Total Assets$4.0B+0.7%$4.0B-2.0%$4.0B-3.2%$4.0B-4.3%$4.0B+0.2%$4.1B+1.4%$4.1B+1.6%$4.2B+1.6%
Cash & Equivalents$2.3M-21.7%$731K-99.3%$3.0M-97.8%$3.3M-97.6%$2.9M-17.9%$109.6M+13189.3%$133.6M+2549.2%$138.5M+2579.6%
Short-Term Investments$0$0$0$0$0$0$0$0
Long-Term Investments$0$0$0$0$0$0$0$0
Goodwill$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M-25.7%$53.5M-35.5%
Total Liabilities$2.6B+4.5%$2.5B+0.3%$2.5B-1.6%$2.4B-2.7%$2.4B+5.6%$2.5B+8.2%$2.5B+8.7%$2.5B+8.9%
Long-Term Debt$2.3B+3.0%$2.2B+0.1%$2.2B-1.3%$2.2B-2.0%$2.2B+5.6%$2.2B+8.2%$2.2B+8.4%$2.2B+8.4%
Total Equity$1.5B-5.0%$1.5B-5.8%$1.5B-5.7%$1.5B-6.7%$1.6B-7.2%$1.6B-7.8%$1.6B-7.8%$1.7B-7.7%

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

PDM Cash Flow 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.

PDM quarterly cash flow statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Operating Cash Flow$28.1M+656.8%$50.9M-21.7%$35.8M-16.5%$50.1M-25.0%$3.7M-84.1%$65.0M+31.1%$42.9M-34.3%$66.8M+21.9%
Depreciation & Amortization$59.6M+7.8%$14.8M+24.3%$56.4M+3.3%$54.6M-1.7%$55.3M-0.4%$11.9M-8.8%$54.6M-0.5%$55.5M-0.6%
Stock-Based Compensation$2.2M+1.5%N/A$2.6M+18.2%$2.5M+13.6%$2.2M+16.6%N/A$2.2M+4.8%$2.2M0.0%
Investing Cash Flow-$48.3M-21.6%-$55.2M+35.9%-$49.1M-48.8%-$31.3M+52.3%-$39.8M-1921.7%-$86.1M-45.8%-$33.0M+31.7%-$65.6M-51.8%
Financing Cash Flow$22.8M+132.0%-$118K+94.3%$13.7M+181.8%-$17.6M-113.1%-$71.2M-299.2%-$2.1M-179.5%-$16.7M-3.7%$134.8M+176.5%
Dividends Paid$131K-99.6%$13K-94.0%$7K-100.0%$14K-99.9%$30.8M+0.7%$216K-35.7%$15.5M+0.3%$15.5M-40.3%

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

PDM 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.

PDM quarterly financial ratios
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Net Margin-9.0%-1.9pp-30.3%-9.3pp-9.7%-1.4pp-12.0%-5.1pp-7.1%+12.1pp-20.9%-1.6pp-8.3%+3.3pp-6.9%-5.5pp
Return on Equity-0.9%-0.2pp-2.9%-1.0pp-0.9%-0.2pp-1.1%-0.5pp-0.7%+1.0pp-1.9%-0.3pp-0.7%+0.2pp-0.6%-0.5pp
Return on Assets-0.3%-0.1pp-1.1%-0.3pp-0.3%-0.1pp-0.4%-0.2pp-0.3%+0.5pp-0.7%0.0pp-0.3%+0.1pp-0.2%-0.2pp
Debt-to-Equity1.52+0.1x1.49+0.1x1.43+0.1x1.41+0.1x1.40+0.2x1.40+0.2x1.36+0.2x1.34+0.2x
Asset Turnover0.040.0x0.040.0x0.030.0x0.040.0x0.040.0x0.030.0x0.030.0x0.030.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, 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
Piedmont Realty Trust, Inc. PDM FY2025 $565.0M -$83.6M -14.8% $1.1B 32/100
Easterly Government Properties, Inc. DEA FY2025 $336.1M $13.0M 3.9% $1.0B 38/100
PARAMOUNT GROUP, INC. PGRE FY2024 $757.5M -$46.3M -6.1% $1.5B 35/100
JBG SMITH Properties JBGS FY2025 $498.6M -$139.1M -27.9% $641.4M 31/100
Brandywine Realty Trust BDN FY2025 $484.5M -$178.2M -36.8% $435.7M 8/100
Peakstone Realty Trust PKST FY2025 $106.0M -$307.7M N/A $780.6M 9/100

Frequently Asked Questions

What is Piedmont Realty Trust, Inc.'s annual revenue?

Piedmont Realty Trust, Inc. (PDM) reported $565.0M in total revenue for fiscal year 2025. This represents a -0.9% 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 Piedmont Realty Trust, Inc.'s revenue growing?

Piedmont Realty Trust, Inc. (PDM) revenue declined by 0.9% year-over-year, from $570.3M to $565.0M in fiscal year 2025.

Is Piedmont Realty Trust, Inc. profitable?

No, Piedmont Realty Trust, Inc. (PDM) reported a net income of -$83.6M in fiscal year 2025, with a net profit margin of -14.8%.

Piedmont Realty Trust, Inc. (PDM) reported diluted earnings per share of -$0.67 for fiscal year 2025. This represents a -4.7% 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.

As of fiscal year 2025, Piedmont Realty Trust, Inc. (PDM) had $731K in cash and equivalents against $2.2B in long-term debt.

Piedmont Realty Trust, Inc. (PDM) had a net profit margin of -14.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Piedmont Realty Trust, Inc. (PDM) paid $0.13 per share in dividends during fiscal year 2025.

Piedmont Realty Trust, Inc. (PDM) has a return on equity of -5.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Piedmont Realty Trust, Inc. (PDM) generated $140.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Piedmont Realty Trust, Inc. (PDM) had $4.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Piedmont Realty Trust, Inc. (PDM) had 125M shares outstanding as of fiscal year 2025.

Piedmont Realty Trust, Inc. (PDM) had a debt-to-equity ratio of 1.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Piedmont Realty Trust, Inc. (PDM) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Piedmont Realty Trust, Inc. (PDM) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $1.1B as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Piedmont Realty Trust, Inc. (PDM) trades at 2.0x sales, its market capitalization divided by revenue of $565.6M revenue, trailing 12 months to March 31, 2026. The market capitalization is $1.1B as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Piedmont Realty Trust, Inc. (PDM) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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.

Piedmont Realty Trust, Inc. (PDM) reported a net loss of $83.6M while generating $140.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.

Piedmont Realty Trust, Inc. (PDM) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite 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. 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.

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