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Piedmont Realty Trust, Inc 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
Free Cash Flow Not reported for the trailing 12 months
Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Currency USD FYE December

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

Rising financing costs are compressing reported returns while the business still converts accounting losses into operating cash.

Interest expense nearly doubled between FY2022 and FY2025, while operating cash flow fell 34.7%, indicating that financing costs are consuming more of the business's cash-producing capacity. FY2025 still paired positive operating cash flow with a net loss; the $181M depreciation-and-amortization charge helps explain that gap, but does not erase the deterioration in cash generation.

Revenue was $565M in FY2025, only modestly below FY2023's $578M, so the weaker outcome reflects declining earnings extraction rather than a major change in top-line scale. With net margin at -14.8%, relatively stable revenue is not translating into comparable profitability.

Balance-sheet leverage is rising: total equity fell from $1.85B in FY2022 to $1.50B in FY2025, while debt-to-equity moved from 1.1x to 1.5x. The combination means a larger share of the asset base is supported by liabilities as the equity cushion contracts.

[ 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
39
FFO Growth
18
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
46
Dividend Cov.
89
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
$565.0M
YoY-0.9%
5Y CAGR+1.1%
10Y CAGR-0.3%

Piedmont Realty Trust, Inc generated $565.0M in revenue in fiscal year 2025. This represents a decrease of 0.9% from the prior year.

Net Income
-$83.6M
YoY-5.8%

Piedmont Realty Trust, Inc reported -$83.6M in net income in fiscal year 2025. This represents a decrease of 5.8% from the prior year.

EPS (Diluted)
-$0.67
YoY-4.7%

Piedmont Realty Trust, Inc earned -$0.67 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 4.7% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt
$731K
YoY-99.3%
5Y CAGR-36.9%
10Y CAGR-18.2%

Piedmont Realty Trust, Inc held $731K in cash against $2.2B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.13
YoY-75.0%
5Y CAGR-31.7%
10Y CAGR-17.3%

Piedmont Realty Trust, Inc paid $0.13 per share in dividends in fiscal year 2025. This represents a decrease of 75.0% from the prior year.

Shares Outstanding
125M
YoY+0.4%
5Y CAGR+0.1%
10Y CAGR-1.5%

Piedmont Realty Trust, Inc had 125M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Net Margin
-14.8%
YoY-0.9pp
5Y CAGR-58.3pp
10Y CAGR-37.3pp

Piedmont Realty Trust, Inc's net profit margin was -14.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.

Return on Equity
-5.6%
YoY-0.6pp
5Y CAGR-17.9pp
10Y CAGR-11.8pp

Piedmont Realty Trust, Inc's ROE was -5.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

PDM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PDM quarterly income statement
MetricQ1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24Q2'24
Revenue$143.3M+0.3%$142.9M+2.7%$139.2M-0.8%$140.3M-1.7%$142.7M-0.4%$143.2M+2.8%$139.3M-2.8%$143.3M
SG&A Expenses$7.9M+6.1%$7.5M-2.0%$7.6M-4.4%$8.0M+5.2%$7.6M-40.2%$12.7M+85.8%$6.8M-18.5%$8.4M
Interest Expense$31.9M-1.5%$32.4M+1.4%$32.0M0.0%$32.0M+0.9%$31.7M+0.2%$31.6M-1.4%$32.1M+8.5%$29.6M
Net Income-$12.9M+70.1%-$43.2M-221.2%-$13.5M+19.9%-$16.8M-66.3%-$10.1M+66.3%-$30.0M-160.2%-$11.5M-17.4%-$9.8M
EPS (Diluted)-$0.10+71.4%-$0.35-218.2%-$0.11+21.4%-$0.14-75.0%-$0.08+66.7%-$0.24-166.7%-$0.09-12.5%-$0.08

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

PDM quarterly balance sheet
MetricQ1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24Q2'24
Total Assets$4.0B+0.1%$4.0B+0.7%$4.0B+0.6%$4.0B-0.6%$4.0B-2.7%$4.1B-0.6%$4.1B-0.5%$4.2B
Cash & Equivalents$2.3M+211.8%$731K-75.6%$3.0M-9.8%$3.3M+13.8%$2.9M-97.3%$109.6M-18.0%$133.6M-3.5%$138.5M
Goodwill$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M0.0%$53.5M
Total Liabilities$2.6B+0.6%$2.5B+2.8%$2.5B+1.4%$2.4B-0.4%$2.4B-3.3%$2.5B+0.7%$2.5B+0.3%$2.5B
Long-Term Debt$2.3B+1.2%$2.2B+1.4%$2.2B+0.7%$2.2B-0.4%$2.2B-1.6%$2.2B0.0%$2.2B0.0%$2.2B
Total Equity$1.5B-0.9%$1.5B-2.6%$1.5B-0.7%$1.5B-0.9%$1.6B-1.7%$1.6B-2.6%$1.6B-1.7%$1.7B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, 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.

PDM quarterly cash flow statement
MetricQ1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24Q2'24
Operating Cash Flow$28.1M-44.8%$50.9M+42.2%$35.8M-28.5%$50.1M+1249.0%$3.7M-94.3%$65.0M+51.7%$42.9M-35.8%$66.8M
Investing Cash Flow-$48.3M+12.4%-$55.2M-12.2%-$49.1M-57.2%-$31.3M+21.4%-$39.8M+53.8%-$86.1M-160.5%-$33.0M+49.6%-$65.6M
Financing Cash Flow$22.8M+19402.5%-$118K-100.9%$13.7M+177.4%-$17.6M+75.2%-$71.2M-3339.4%-$2.1M+87.6%-$16.7M-112.4%$134.8M
Dividends Paid$131K+907.7%$13K+85.7%$7K-50.0%$14K-100.0%$30.8M+14177.8%$216K-98.6%$15.5M0.0%$15.5M

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.

PDM quarterly financial ratios
MetricQ1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24Q2'24
Net Margin-9.0%+21.3pp-30.3%-20.6pp-9.7%+2.3pp-12.0%-4.9pp-7.1%+13.9pp-20.9%-12.7pp-8.3%-1.4pp-6.9%
Return on Equity-0.9%+2.0pp-2.9%-2.0pp-0.9%+0.2pp-1.1%-0.4pp-0.7%+1.2pp-1.9%-1.2pp-0.7%-0.1pp-0.6%
Return on Assets-0.3%+0.8pp-1.1%-0.7pp-0.3%+0.1pp-0.4%-0.2pp-0.3%+0.5pp-0.7%-0.5pp-0.3%0.0pp-0.2%
Debt-to-Equity1.520.0x1.49+0.1x1.430.0x1.410.0x1.400.0x1.400.0x1.360.0x1.34

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

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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 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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