Saturday 17 October 2026 Export HIW’s income statement to Excel — free account

Highwoods Properties, Inc.

Highwoods Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $806.1 million, down 2.39% from fiscal 2024. In the quarter to June 2026, revenue grew 7.87%, EPS grew 400.0%, free cash flow grew 364.5% and total debt rose 5.43%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

29.34 0.13 +0.45%

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Market cap: $3.2B
P/E: 19.3×
Fwd P/E: 31.1×
Dividend yield: 6.82%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	9.55	28.53	23.74	37.62	11.90	15.01	18.99	16.78	32.26	17.68
Piotroski F-Score Full definition →	7	6	5	3	7	4	5	5	4	6
P/S ratio Full definition →	7.60	7.42	5.56	6.89	5.59	6.05	3.56	2.95	3.93	3.47
P/FCF ratio Full definition →	9.54	33.48	70.59	0.00	8.59	17.65	34.60	9.47	12.26	0.00
P/Operating CF Full definition →	68.86	63.34	60.94	63.76	49.78	44.12	28.99	23.94	31.30	28.09
P/B ratio Full definition →	2.38	2.36	1.79	2.36	1.77	1.88	1.20	1.02	1.39	1.19
Price to Tangible BV Full definition →	2.38	2.36	1.79	2.36	1.77	1.88	1.20	1.02	1.39	1.19
EV/Sales Full definition →	10.40	10.16	8.44	10.33	8.68	9.64	7.39	6.77	7.88	7.83
EV/EBITDA Full definition →	17.28	16.66	13.89	17.26	13.77	14.96	12.39	10.69	13.17	12.53
EV/Operating CF Full definition →	22.65	20.25	16.95	20.78	17.86	17.86	14.52	14.58	16.12	17.57
EV/FCF Full definition →	13.07	45.85	107.21	(32.51)	13.35	28.12	71.74	21.72	24.58	(68.72)
Quick Ratio Full definition →	0.86	1.37	1.17	0.95	1.77	1.06	1.15	1.23	1.22	1.37
Current Ratio Full definition →	0.88	1.40	1.20	0.96	1.78	1.07	1.15	1.24	1.25	1.41
Net Debt/EBITDA Full definition →	4.67	4.49	4.74	5.74	4.91	5.57	6.42	6.03	6.60	6.97
Debt/Assets Full definition →	42.71%	43.56%	44.62%	49.51%	47.41%	48.97%	52.73%	53.53%	54.63%	56.65%
Debt/Equity Full definition →	0.90	0.90	0.92	1.17	1.05	1.12	1.28	1.32	1.39	1.49
Asset Turnover Full definition →	0.15	0.15	0.15	0.15	0.14	0.14	0.14	0.14	0.14	0.13
Operating CF/Net income Full definition →	0.59	1.93	2.12	2.72	1.04	1.33	2.69	2.65	4.05	2.28
Capex/Depreciation Full definition →	1.00	(0.85)	(1.31)	(2.33)	0.50	(0.57)	(1.15)	(0.42)	(0.45)	(1.49)
Interest Coverage Full definition →	2.30	2.85	2.90	2.24	2.73	2.70	1.92	1.63	1.28	1.32
ROE Full definition →	28.09%	8.44%	7.62%	6.14%	15.42%	12.95%	6.34%	5.99%	4.20%	6.70%
ROA Full definition →	11.54%	3.98%	3.64%	2.74%	6.67%	5.70%	2.66%	2.42%	1.66%	2.56%
ROIC Full definition →	2.74%	2.96%	2.98%	2.43%	2.97%	2.76%	2.23%	2.48%	2.09%	2.13%
Return on Tangible Assets Full definition →	13.13%	4.43%	4.02%	2.98%	7.45%	6.15%	3.03%	2.89%	2.04%	3.03%
Average Days of Receivables Full definition →	104.30	116.62	124.72	127.96	142.09	134.18	140.53	148.25	149.00	156.80
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	5.73%	5.64%	5.56%	5.99%	5.57%	5.28%	5.10%	5.14%	5.07%	5.00%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	0.94%	0.95%	1.04%	0.98%	0.84%	1.13%	0.91%	0.84%	0.97%	1.02%
Graham Net Nets Full definition →	(0.42)	(0.40)	(0.54)	(0.53)	(0.58)	(0.62)	(1.09)	(1.30)	(1.01)	(1.25)
Graham Number Full definition →	51.12	29.35	28.15	24.60	40.99	39.80	27.97	26.72	21.66	26.71
Earnings Yield Full definition →	10.48%	3.51%	4.21%	2.66%	8.40%	6.66%	5.27%	5.96%	3.10%	5.65%
Free Cash Flow Yield Full definition →	10.48%	2.99%	1.42%	(4.61%)	11.64%	5.67%	2.89%	10.56%	8.15%	(3.28%)
Revenue per Share Full definition →	6.76	6.84	6.96	7.10	7.09	7.37	7.89	7.90	7.78	7.43
Operating CF per Share Full definition →	3.11	3.43	3.47	3.53	3.45	3.98	4.01	3.67	3.80	3.31
Capex per Share Full definition →	2.28	(1.92)	(2.92)	(5.78)	1.17	(1.45)	(3.20)	(1.20)	(1.31)	(4.16)
Free Cash Flow per Share Full definition →	5.38	1.52	0.55	(2.25)	4.61	2.53	0.81	2.46	2.49	(0.85)
Cash per Share Full definition →	0.80	0.86	0.10	0.14	1.82	0.30	0.25	0.30	0.32	0.40
Shareholders Equity per Share Full definition →	21.88	21.79	21.89	20.97	22.70	23.98	23.77	23.10	22.28	21.97
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	21.88	21.79	21.89	20.97	22.70	23.98	23.77	23.10	22.28	21.97
Free Cash Flow Full definition →	529.96	155.73	56.69	(233.79)	479.35	263.37	85.38	259.80	264.71	(91.85)
Working Capital Full definition →	(36.22)	91.07	42.86	(12.65)	208.73	19.78	45.13	72.93	77.33	117.56
Capital Expenditures Full definition →	224.15	(196.80)	(301.94)	(599.59)	121.19	(151.19)	(336.40)	(127.16)	(138.88)	(451.05)
Net Current Asset Value Full definition →	(2,129.07)	(2,067.27)	(2,148.93)	(2,689.57)	(2,373.79)	(2,880.83)	(3,218.06)	(3,189.80)	(3,282.02)	(3,489.40)
EV/EBIT Full definition →	39.29	36.26	29.33	41.52	28.99	31.95	30.21	25.31	34.58	31.45
Capex to Sales Full definition →	(0.34)	0.28	0.42	0.81	(0.16)	0.20	0.41	0.15	0.17	0.56
Price to Operating Income Full definition →	28.68	26.48	19.31	27.71	18.65	20.05	14.57	11.04	17.26	13.95
Other line items
Depreciation/Fixed assets Full definition →	0.06	0.06	0.06	0.06	0.06	0.05	0.06	0.06	0.06	0.06
Cash ROIC Full definition →	12.68%	3.59%	1.30%	(4.94%)	9.55%	4.95%	1.49%	4.57%	4.65%	(1.54%)
Accounts Receivable Turnover Full definition →	3.60	3.39	3.06	2.92	2.70	2.70	2.76	2.54	2.44	2.36
Accounts Payable Turnover Full definition →	0.84	0.87	1.08	0.98	0.83	0.84	0.87	0.89	0.90	0.89
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	495.78	351.64	329.63	421.40	423.10	455.37	423.13	410.35	408.42	396.61
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	184.84	207.36	235.28	252.03	272.45	284.60	300.74	328.95	337.94	341.71
Average Payables Full definition →	273.94	271.05	223.57	252.92	277.82	281.85	298.08	301.68	303.37	294.28
Average Assets Full definition →	4,523.34	4,592.42	4,649.40	4,906.63	5,173.83	5,452.28	5,879.26	6,033.15	6,016.14	6,151.60
Average Common Equity Full definition →	1,857.81	2,166.87	2,221.88	2,190.48	2,237.45	2,400.04	2,470.46	2,439.70	2,372.93	2,346.41

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