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Saturday 7 November 2026
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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.
- Revenue
- +8.13%
- EPS
- +157.4%
- Free cash flow
- +289.7%
- Total debt
- +3.15%
Quarter to September 2026, against a year earlier
31.46
0.26
−0.82%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
17.68 | 32.26 | 16.78 | 18.99 | 15.01 | 11.90 | 37.62 | 23.74 | 28.53 | 9.55 |
Piotroski F-Score |
6 | 4 | 5 | 5 | 4 | 7 | 3 | 5 | 6 | 7 |
P/S ratio |
3.47 | 3.93 | 2.95 | 3.56 | 6.05 | 5.59 | 6.89 | 5.56 | 7.42 | 7.60 |
P/FCF ratio |
0.00 | 12.26 | 9.47 | 34.60 | 17.65 | 8.59 | 0.00 | 70.59 | 33.48 | 9.54 |
P/Operating CF |
28.09 | 31.30 | 23.94 | 28.99 | 44.12 | 49.78 | 63.76 | 60.94 | 63.34 | 68.86 |
P/B ratio |
1.19 | 1.39 | 1.02 | 1.20 | 1.88 | 1.77 | 2.36 | 1.79 | 2.36 | 2.38 |
Price to Tangible BV |
1.19 | 1.39 | 1.02 | 1.20 | 1.88 | 1.77 | 2.36 | 1.79 | 2.36 | 2.38 |
EV/Sales |
7.83 | 7.88 | 6.77 | 7.39 | 9.64 | 8.68 | 10.33 | 8.44 | 10.16 | 10.40 |
EV/EBITDA |
12.53 | 13.17 | 10.69 | 12.39 | 14.96 | 13.77 | 17.26 | 13.89 | 16.66 | 17.28 |
EV/Operating CF |
17.57 | 16.12 | 14.58 | 14.52 | 17.86 | 17.86 | 20.78 | 16.95 | 20.25 | 22.65 |
EV/FCF |
(68.72) | 24.58 | 21.72 | 71.74 | 28.12 | 13.35 | (32.51) | 107.21 | 45.85 | 13.07 |
Quick Ratio |
1.37 | 1.22 | 1.23 | 1.15 | 1.06 | 1.77 | 0.95 | 1.17 | 1.37 | 0.86 |
Current Ratio |
1.41 | 1.25 | 1.24 | 1.15 | 1.07 | 1.78 | 0.96 | 1.20 | 1.40 | 0.88 |
Net Debt/EBITDA |
6.97 | 6.60 | 6.03 | 6.42 | 5.57 | 4.91 | 5.74 | 4.74 | 4.49 | 4.67 |
Debt/Assets |
56.65% | 54.63% | 53.53% | 52.73% | 48.97% | 47.41% | 49.51% | 44.62% | 43.56% | 42.71% |
Debt/Equity |
1.49 | 1.39 | 1.32 | 1.28 | 1.12 | 1.05 | 1.17 | 0.92 | 0.90 | 0.90 |
Asset Turnover |
0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 |
Operating CF/Net income |
2.28 | 4.05 | 2.65 | 2.69 | 1.33 | 1.04 | 2.72 | 2.12 | 1.93 | 0.59 |
Capex/Depreciation |
(1.49) | (0.45) | (0.42) | (1.15) | (0.57) | 0.50 | (2.33) | (1.31) | (0.85) | 1.00 |
Interest Coverage |
1.32 | 1.28 | 1.63 | 1.92 | 2.70 | 2.73 | 2.24 | 2.90 | 2.85 | 2.30 |
| 6.70% | 4.20% | 5.99% | 6.34% | 12.95% | 15.42% | 6.14% | 7.62% | 8.44% | 28.09% | |
| 2.56% | 1.66% | 2.42% | 2.66% | 5.70% | 6.67% | 2.74% | 3.64% | 3.98% | 11.54% | |
ROIC |
2.13% | 2.09% | 2.48% | 2.23% | 2.76% | 2.97% | 2.43% | 2.98% | 2.96% | 2.74% |
Return on Tangible Assets |
3.03% | 2.04% | 2.89% | 3.03% | 6.15% | 7.45% | 2.98% | 4.02% | 4.43% | 13.13% |
Average Days of Receivables |
156.80 | 149.00 | 148.25 | 140.53 | 134.18 | 142.09 | 127.96 | 124.72 | 116.62 | 104.30 |
Research and Development Expense of Revenue |
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 |
5.00% | 5.07% | 5.14% | 5.10% | 5.28% | 5.57% | 5.99% | 5.56% | 5.64% | 5.73% |
Intangible Assets out of Total Assets |
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 |
1.02% | 0.97% | 0.84% | 0.91% | 1.13% | 0.84% | 0.98% | 1.04% | 0.95% | 0.94% |
Graham Net Nets |
(1.25) | (1.01) | (1.30) | (1.09) | (0.62) | (0.58) | (0.53) | (0.54) | (0.40) | (0.42) |
Graham Number |
26.71 | 21.66 | 26.72 | 27.97 | 39.80 | 40.99 | 24.60 | 28.15 | 29.35 | 51.12 |
Earnings Yield |
5.65% | 3.10% | 5.96% | 5.27% | 6.66% | 8.40% | 2.66% | 4.21% | 3.51% | 10.48% |
Free Cash Flow Yield |
(3.28%) | 8.15% | 10.56% | 2.89% | 5.67% | 11.64% | (4.61%) | 1.42% | 2.99% | 10.48% |
Revenue per Share |
7.43 | 7.78 | 7.90 | 7.89 | 7.37 | 7.09 | 7.10 | 6.96 | 6.84 | 6.76 |
Operating CF per Share |
3.31 | 3.80 | 3.67 | 4.01 | 3.98 | 3.45 | 3.53 | 3.47 | 3.43 | 3.11 |
Capex per Share |
(4.16) | (1.31) | (1.20) | (3.20) | (1.45) | 1.17 | (5.78) | (2.92) | (1.92) | 2.28 |
Free Cash Flow per Share |
(0.85) | 2.49 | 2.46 | 0.81 | 2.53 | 4.61 | (2.25) | 0.55 | 1.52 | 5.38 |
Cash per Share |
0.40 | 0.32 | 0.30 | 0.25 | 0.30 | 1.82 | 0.14 | 0.10 | 0.86 | 0.80 |
Shareholders Equity per Share |
21.97 | 22.28 | 23.10 | 23.77 | 23.98 | 22.70 | 20.97 | 21.89 | 21.79 | 21.88 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
21.97 | 22.28 | 23.10 | 23.77 | 23.98 | 22.70 | 20.97 | 21.89 | 21.79 | 21.88 |
Free Cash Flow |
(91.85) | 264.71 | 259.80 | 85.38 | 263.37 | 479.35 | (233.79) | 56.69 | 155.73 | 529.96 |
Working Capital |
117.56 | 77.33 | 72.93 | 45.13 | 19.78 | 208.73 | (12.65) | 42.86 | 91.07 | (36.22) |
Capital Expenditures |
(451.05) | (138.88) | (127.16) | (336.40) | (151.19) | 121.19 | (599.59) | (301.94) | (196.80) | 224.15 |
Net Current Asset Value |
(3,489.40) | (3,282.02) | (3,189.80) | (3,218.06) | (2,880.83) | (2,373.79) | (2,689.57) | (2,148.93) | (2,067.27) | (2,129.07) |
EV/EBIT |
31.45 | 34.58 | 25.31 | 30.21 | 31.95 | 28.99 | 41.52 | 29.33 | 36.26 | 39.29 |
Capex to Sales |
0.56 | 0.17 | 0.15 | 0.41 | 0.20 | (0.16) | 0.81 | 0.42 | 0.28 | (0.34) |
Price to Operating Income |
13.95 | 17.26 | 11.04 | 14.57 | 20.05 | 18.65 | 27.71 | 19.31 | 26.48 | 28.68 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
Cash ROIC |
(1.54%) | 4.65% | 4.57% | 1.49% | 4.95% | 9.55% | (4.94%) | 1.30% | 3.59% | 12.68% |
Accounts Receivable Turnover |
2.36 | 2.44 | 2.54 | 2.76 | 2.70 | 2.70 | 2.92 | 3.06 | 3.39 | 3.60 |
Accounts Payable Turnover |
0.89 | 0.90 | 0.89 | 0.87 | 0.84 | 0.83 | 0.98 | 1.08 | 0.87 | 0.84 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
396.61 | 408.42 | 410.35 | 423.13 | 455.37 | 423.10 | 421.40 | 329.63 | 351.64 | 495.78 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
341.71 | 337.94 | 328.95 | 300.74 | 284.60 | 272.45 | 252.03 | 235.28 | 207.36 | 184.84 |
Average Payables |
294.28 | 303.37 | 301.68 | 298.08 | 281.85 | 277.82 | 252.92 | 223.57 | 271.05 | 273.94 |
Average Assets |
6,151.60 | 6,016.14 | 6,033.15 | 5,879.26 | 5,452.28 | 5,173.83 | 4,906.63 | 4,649.40 | 4,592.42 | 4,523.34 |
Average Common Equity |
2,346.41 | 2,372.93 | 2,439.70 | 2,470.46 | 2,400.04 | 2,237.45 | 2,190.48 | 2,221.88 | 2,166.87 | 1,857.81 |
Columns are period end dates · fundamentals updated 2 Nov 2026