Empire State Realty Trust, Inc. (ESRT) vs JBG SMITH Properties (JBGS)

Empire State Realty Trust, Inc. and JBG SMITH Properties are both Reit Diversified companies. JBG SMITH Properties is the larger, with a market value of $776.8M against $701.2M — 1.1× the size. JBG SMITH Properties has negative trailing earnings, so its P/E is not meaningful; Empire State Realty Trust, Inc. trades at 137×. Empire State Realty Trust, Inc. grew revenue faster over the last twelve months: 2.04% against −1.08%. Empire State Realty Trust, Inc. has the higher net margin (0.39% vs −29.9%) and the lower return on invested capital (−0.55% vs −0.08%). Both pay a dividend; JBG SMITH Properties yields more (5.34% vs 1.44%). Across the 20 metrics below, Empire State Realty Trust, Inc. leads on 13 and JBG SMITH Properties on 7.

Valuation

Metric ESRT JBGS Reit Diversified median
P/E 137.00 n/m 23.72
P/S 0.90 1.21 3.28
P/B 0.39 0.57 0.87
Price to free cash flow n/m n/m 9.21
EV/EBITDA 15.77 15.60 11.57
EV/Sales 3.57 5.97 6.64
Earnings yield 0.73% (24.79%) 1.04%
Free cash flow yield (42.83%) (6.88%) 0.16%

Profitability

Metric ESRT JBGS Reit Diversified median
Gross margin 74.65% 61.85% 77.09%
Operating margin (4.40%) (0.88%) 33.33%
Net margin 0.39% (29.89%) 2.62%
Free cash flow margin (38.40%) (8.31%) 3.11%
Return on equity 0.17% (12.66%) 3.13%
Return on assets 0.07% (3.45%) 0.35%
Return on invested capital (0.55%) (0.08%) 2.80%

Growth

Metric ESRT JBGS Reit Diversified median
Revenue growth (TTM) 2.04% (1.08%) 5.49%
EPS growth (last fiscal year) (10.71%) (26.67%) —
Revenue growth, 5-year CAGR 4.75% (3.72%) 4.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ESRT JBGS Reit Diversified median
Debt to equity 1.24 2.35 1.13
Current ratio 1.32 4.89 1.47
Net debt to EBITDA 6.41 11.90 5.88

Dividend

Metric ESRT JBGS Reit Diversified median
Dividend yield 1.44% 5.34% 7.13%
Payout ratio 0.48 2.20 1.37

Size

Metric ESRT JBGS Reit Diversified median
Market cap 701.19m 776.78m 729.58m

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