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Saturday 7 November 2026 Export HIW’s income statement to Excel — free account

Highwoods Properties, Inc.

HIW Real Estate Reit Office

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%
Market cap
$3.5B
P/E
18.4×
Fwd P/E
18.1×
Dividend yield
6.36%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Highwoods Properties, Inc. (HIW) EV/EBITDA

Alert me on EV/EBITDA

As of 6 November 2026, Highwoods Properties, Inc. (HIW) trades at a EV/EBITDA of 12.4×. Over the past ten years it has ranged from 9.4× (October 2023) to 19.2× (December 2015); the current reading is higher than 19% of that period. That is in line with the Reit Office industry median of 12.4× and below the Real Estate sector median of 15.3×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 12.5× (4.88%)
FY2024 13.2× 23.17%
FY2023 10.7× (13.72%)
FY2022 12.4× (17.19%)
FY2021 15.0× 8.70%
FY2020 13.8× (20.24%)
FY2019 17.3× 24.23%
FY2018 13.9× (16.60%)
FY2017 16.7× (3.60%)
FY2016 17.3× (2.26%)

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 11.9× (7.31%)
Jun 2026 12.8× 8.99%
Mar 2026 11.8× (6.15%)
Dec 2025 12.5× (12.71%)
43 more quarters

Against its own ten years

Low 9.4× High 19.2×
Ten-year median 14.8×
Current reading's percentile 19

EV/EBITDA against peers

Company EV/EBITDA
PDM Piedmont Realty Trust, Inc. compare 10.9×
ARE Alexandria Real Estate Equities, Inc. compare 11.1×
DEI Douglas Emmett, Inc. compare 11.9×
HIW Highwoods Properties, Inc. 12.4×
CUZ Cousins Properties Incorporated compare 12.4×
KRC Kilroy Realty Corporation compare 13.4×
CDP COPT Defense Properties compare 14.8×
VNO Vornado Realty Trust compare 17.4×
SLG SL Green Realty Corporation compare 24.5×
Reit Office industry median 12.4×
Real Estate sector median 15.3×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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