The Tip Desk

Empire State Realty Trust, Inc.

Company Stats

Market Cap
$697.7M
as of Sep 30, 2026
Enterprise Value
$3.0B
Shares Outstanding
173.1M
Free Float
59.5%

Income Statement

Revenue
$766.8M
Operating Income
$135.6M
Net Income
$73.0M
EBITDA
$330.4M
Revenue Growth, 3Y
1.9%

Balance Sheet

Cash & Equivalents
$132.7M
Total Debt
$2.4B
Net Debt
$2.3B
Net Debt / EBITDA
6.83x
EV / EBITDA
8.94x
Net Debt / EBIT
16.63x

Returns & Capital

Dividends Paid
$23.7M
Dividend Yield
3.4%
Dividend Payout, 3Y Avg
29.4%
Share Repurchases
$8.1M
Buyback Yield, 3Y Avg
1.0%
SBC, 3Y Avg
$22.3M

Cash Flow by Year

YearRevenueFCFMargin
FY2025$766.8M——
FY2024$766.8M——
FY2023$738.2M$63.3M8.6%
FY2022$725.7M$125.2M17.3%
FY2021$624.1M-$185.9M-29.8%

Annual filing data through FY ended December 31, 2025; shares and float as of October 31, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Earnings

Other Coverage