EMPIRE STATE REALTY TRUST-A (ESRT) Fundamental Analysis & Valuation

NYSE:ESRT • US2921041065

5.53 USD
-0.17 (-2.98%)
At close: Mar 6, 2026
5.53 USD
0 (0%)
After Hours: 3/6/2026, 8:14:28 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This ESRT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ESRT. ESRT was compared to 122 industry peers in the Diversified REITs industry. Both the profitability and the financial health of ESRT get a neutral evaluation. Nothing too spectacular is happening here. ESRT is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. ESRT Profitability Analysis

1.1 Basic Checks

  • In the past year ESRT was profitable.
  • ESRT had a positive operating cash flow in the past year.
  • Of the past 5 years ESRT 4 years were profitable.
  • Of the past 5 years ESRT 4 years had a positive operating cash flow.
ESRT Yearly Net Income VS EBIT VS OCF VS FCFESRT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M 200M

1.2 Ratios

  • ESRT has a Return On Assets of 0.85%. This is comparable to the rest of the industry: ESRT outperforms 52.46% of its industry peers.
  • ESRT has a Return On Equity (3.25%) which is comparable to the rest of the industry.
  • ESRT has a Return On Invested Capital (2.87%) which is comparable to the rest of the industry.
  • ESRT had an Average Return On Invested Capital over the past 3 years of 2.75%. This is in line with the industry average of 3.10%.
  • The 3 year average ROIC (2.75%) for ESRT is below the current ROIC(2.87%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.85%
ROE 3.25%
ROIC 2.87%
ROA(3y)1.06%
ROA(5y)0.76%
ROE(3y)3.89%
ROE(5y)2.87%
ROIC(3y)2.75%
ROIC(5y)2.48%
ESRT Yearly ROA, ROE, ROICESRT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2 4

1.3 Margins

  • ESRT has a Profit Margin (4.55%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of ESRT has grown nicely.
  • ESRT has a Operating Margin of 18.68%. This is comparable to the rest of the industry: ESRT outperforms 44.26% of its industry peers.
  • ESRT's Operating Margin has improved in the last couple of years.
  • ESRT has a worse Gross Margin (54.04%) than 74.59% of its industry peers.
  • In the last couple of years the Gross Margin of ESRT has remained more or less at the same level.
Industry RankSector Rank
OM 18.68%
PM (TTM) 4.55%
GM 54.04%
OM growth 3Y0.36%
OM growth 5Y10.63%
PM growth 3Y4.1%
PM growth 5YN/A
GM growth 3Y-2.01%
GM growth 5Y-0.01%
ESRT Yearly Profit, Operating, Gross MarginsESRT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. ESRT Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ESRT is destroying value.
  • Compared to 1 year ago, ESRT has more shares outstanding
  • ESRT has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ESRT has an improved debt to assets ratio.
ESRT Yearly Shares OutstandingESRT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
ESRT Yearly Total Debt VS Total AssetsESRT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.2 Solvency

  • ESRT has an Altman-Z score of 0.55. This is a bad value and indicates that ESRT is not financially healthy and even has some risk of bankruptcy.
  • ESRT has a Altman-Z score of 0.55. This is comparable to the rest of the industry: ESRT outperforms 52.46% of its industry peers.
  • ESRT has a Debt/Equity ratio of 1.92. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.92, ESRT is not doing good in the industry: 68.85% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.92
Debt/FCF N/A
Altman-Z 0.55
ROIC/WACC0.49
WACC5.88%
ESRT Yearly LT Debt VS Equity VS FCFESRT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B 1.5B 2B

2.3 Liquidity

  • A Current Ratio of 2.59 indicates that ESRT has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 2.59, ESRT belongs to the top of the industry, outperforming 94.26% of the companies in the same industry.
  • ESRT has a Quick Ratio of 2.59. This indicates that ESRT is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Quick ratio value of 2.59, ESRT belongs to the best of the industry, outperforming 94.26% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.59
Quick Ratio 2.59
ESRT Yearly Current Assets VS Current LiabilitesESRT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. ESRT Growth Analysis

3.1 Past

  • ESRT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 38.10%, which is quite impressive.
  • Measured over the past years, ESRT shows a very strong growth in Earnings Per Share. The EPS has been growing by 57.42% on average per year.
  • The Revenue has been growing slightly by 0.05% in the past year.
  • ESRT shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.75% yearly.
EPS 1Y (TTM)38.1%
EPS 3Y34.2%
EPS 5Y57.42%
EPS Q2Q%-4.17%
Revenue 1Y (TTM)0.05%
Revenue growth 3Y1.86%
Revenue growth 5Y4.75%
Sales Q2Q%2.96%

3.2 Future

  • The Earnings Per Share is expected to decrease by -39.35% on average over the next years. This is quite bad
  • ESRT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.24% yearly.
EPS Next Y-92.97%
EPS Next 2Y-75.79%
EPS Next 3Y-61.15%
EPS Next 5Y-39.35%
Revenue Next Year2.89%
Revenue Next 2Y2.2%
Revenue Next 3Y1.81%
Revenue Next 5Y2.24%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ESRT Yearly Revenue VS EstimatesESRT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 200M 400M 600M 800M
ESRT Yearly EPS VS EstimatesESRT Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 0.2 0.4 0.6 0.8

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4

4. ESRT Valuation Analysis

4.1 Price/Earnings Ratio

  • ESRT is valuated cheaply with a Price/Earnings ratio of 6.36.
  • Compared to the rest of the industry, the Price/Earnings ratio of ESRT indicates a rather cheap valuation: ESRT is cheaper than 95.90% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.29, ESRT is valued rather cheaply.
  • A Price/Forward Earnings ratio of 90.36 indicates a quite expensive valuation of ESRT.
  • ESRT's Price/Forward Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.57, ESRT is valued quite expensively.
Industry RankSector Rank
PE 6.36
Fwd PE 90.36
ESRT Price Earnings VS Forward Price EarningsESRT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • 93.44% of the companies in the same industry are more expensive than ESRT, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.64
ESRT Per share dataESRT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

  • ESRT's earnings are expected to decrease with -61.15% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.11
EPS Next 2Y-75.79%
EPS Next 3Y-61.15%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. ESRT Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.46%, ESRT has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 7.04, ESRT's dividend is way lower than its industry peers. On top of this 84.43% of the companies listed in the same industry pay a better dividend than ESRT!
  • Compared to an average S&P500 Dividend Yield of 1.82, ESRT pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.46%

5.2 History

  • The dividend of ESRT decreases each year by -17.38%.
  • ESRT has paid a dividend for at least 10 years, which is a reliable track record.
  • ESRT has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-17.38%
Div Incr Years0
Div Non Decr Years3
ESRT Yearly Dividends per shareESRT Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.1 0.2 0.3 0.4

5.3 Sustainability

  • ESRT pays out 79.65% of its income as dividend. This is not a sustainable payout ratio.
  • ESRT's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP79.65%
EPS Next 2Y-75.79%
EPS Next 3Y-61.15%
ESRT Yearly Income VS Free CF VS DividendESRT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M -100M
ESRT Dividend Payout.ESRT Dividend Payout, showing the Payout Ratio.ESRT Dividend Payout.PayoutRetained Earnings

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ESRT Fundamentals: All Metrics, Ratios and Statistics

EMPIRE STATE REALTY TRUST-A

NYSE:ESRT (3/6/2026, 8:14:28 PM)

After market: 5.53 0 (0%)

5.53

-0.17 (-2.98%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-17
Earnings (Next)04-27
Inst Owners103.01%
Inst Owner Change1.31%
Ins Owners0.08%
Ins Owner Change0%
Market Cap941.15M
Revenue(TTM)768.27M
Net Income(TTM)34.89M
Analysts75
Price Target7.51 (35.8%)
Short Float %4.27%
Short Ratio4.4
Dividend
Industry RankSector Rank
Dividend Yield 2.46%
Yearly Dividend0.17
Dividend Growth(5Y)-17.38%
DP79.65%
Div Incr Years0
Div Non Decr Years3
Ex-Date03-13
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-7.54%
PT rev (3m)-16.93%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 6.36
Fwd PE 90.36
P/S 1.23
P/FCF N/A
P/OCF 3.55
P/B 0.88
P/tB 3.43
EV/EBITDA 8.64
EPS(TTM)0.87
EY15.73%
EPS(NY)0.06
Fwd EY1.11%
FCF(TTM)-0.01
FCFYN/A
OCF(TTM)1.56
OCFY28.18%
SpS4.5
BVpS6.31
TBVpS1.61
PEG (NY)N/A
PEG (5Y)0.11
Graham Number11.11
Profitability
Industry RankSector Rank
ROA 0.85%
ROE 3.25%
ROCE 3.64%
ROIC 2.87%
ROICexc 2.99%
ROICexgc 3.79%
OM 18.68%
PM (TTM) 4.55%
GM 54.04%
FCFM N/A
ROA(3y)1.06%
ROA(5y)0.76%
ROE(3y)3.89%
ROE(5y)2.87%
ROIC(3y)2.75%
ROIC(5y)2.48%
ROICexc(3y)2.96%
ROICexc(5y)2.68%
ROICexgc(3y)3.73%
ROICexgc(5y)3.4%
ROCE(3y)3.48%
ROCE(5y)3.14%
ROICexgc growth 3Y-2.22%
ROICexgc growth 5Y10.35%
ROICexc growth 3Y-1.13%
ROICexc growth 5Y11.75%
OM growth 3Y0.36%
OM growth 5Y10.63%
PM growth 3Y4.1%
PM growth 5YN/A
GM growth 3Y-2.01%
GM growth 5Y-0.01%
F-Score6
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 1.92
Debt/FCF N/A
Debt/EBITDA 6.18
Cap/Depr 140.72%
Cap/Sales 34.79%
Interest Coverage 1.49
Cash Conversion 79.7%
Profit Quality N/A
Current Ratio 2.59
Quick Ratio 2.59
Altman-Z 0.55
F-Score6
WACC5.88%
ROIC/WACC0.49
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)38.1%
EPS 3Y34.2%
EPS 5Y57.42%
EPS Q2Q%-4.17%
EPS Next Y-92.97%
EPS Next 2Y-75.79%
EPS Next 3Y-61.15%
EPS Next 5Y-39.35%
Revenue 1Y (TTM)0.05%
Revenue growth 3Y1.86%
Revenue growth 5Y4.75%
Sales Q2Q%2.96%
Revenue Next Year2.89%
Revenue Next 2Y2.2%
Revenue Next 3Y1.81%
Revenue Next 5Y2.24%
EBIT growth 1Y-8.53%
EBIT growth 3Y2.22%
EBIT growth 5Y15.89%
EBIT Next Year144.54%
EBIT Next 3Y36.3%
EBIT Next 5Y22.27%
FCF growth 1Y98.09%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y7.21%
OCF growth 3YN/A
OCF growth 5YN/A

EMPIRE STATE REALTY TRUST-A / ESRT FAQ

Can you provide the ChartMill fundamental rating for EMPIRE STATE REALTY TRUST-A?

ChartMill assigns a fundamental rating of 4 / 10 to ESRT.


What is the valuation status for ESRT stock?

ChartMill assigns a valuation rating of 4 / 10 to EMPIRE STATE REALTY TRUST-A (ESRT). This can be considered as Fairly Valued.


What is the profitability of ESRT stock?

EMPIRE STATE REALTY TRUST-A (ESRT) has a profitability rating of 5 / 10.


What is the valuation of EMPIRE STATE REALTY TRUST-A based on its PE and PB ratios?

The Price/Earnings (PE) ratio for EMPIRE STATE REALTY TRUST-A (ESRT) is 6.36 and the Price/Book (PB) ratio is 0.88.


What is the financial health of EMPIRE STATE REALTY TRUST-A (ESRT) stock?

The financial health rating of EMPIRE STATE REALTY TRUST-A (ESRT) is 4 / 10.