EMPIRE STATE REALTY TRUST-A (ESRT) Stock Fundamental Analysis
USA - NYSE:ESRT - US2921041065 - REIT
7.265 USD
+0.1 (+1.47%)
ESRT gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 129 industry peers in the Diversified REITs industry. ESRT has only an average score on both its financial health and profitability. ESRT does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
ESRT had positive earnings in the past year.
In the past year ESRT had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: ESRT reported negative net income in multiple years.
Each year in the past 5 years ESRT had a positive operating cash flow.
1.2 Ratios
ESRT's Return On Assets of 0.99% is in line compared to the rest of the industry. ESRT outperforms 54.26% of its industry peers.
ESRT's Return On Equity of 3.79% is fine compared to the rest of the industry. ESRT outperforms 60.47% of its industry peers.
The Return On Invested Capital of ESRT (3.01%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for ESRT is in line with the industry average of 3.01%.
The last Return On Invested Capital (3.01%) for ESRT is above the 3 year average (2.75%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.99% | ||
| ROE | 3.79% | ||
| ROIC | 3.01% |
ROA(3y)1.03%
ROA(5y)0.49%
ROE(3y)4.33%
ROE(5y)2.08%
ROIC(3y)2.75%
ROIC(5y)2.24%
1.3 Margins
ESRT's Profit Margin of 5.26% is in line compared to the rest of the industry. ESRT outperforms 51.94% of its industry peers.
In the last couple of years the Profit Margin of ESRT has declined.
ESRT has a Operating Margin of 19.41%. This is comparable to the rest of the industry: ESRT outperforms 45.74% of its industry peers.
In the last couple of years the Operating Margin of ESRT has remained more or less at the same level.
ESRT has a Gross Margin of 54.42%. This is in the lower half of the industry: ESRT underperforms 74.42% of its industry peers.
ESRT's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.41% | ||
| PM (TTM) | 5.26% | ||
| GM | 54.42% |
OM growth 3Y14.11%
OM growth 5Y-0.46%
PM growth 3YN/A
PM growth 5Y-1.77%
GM growth 3Y-0.96%
GM growth 5Y-0.19%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ESRT is destroying value.
The number of shares outstanding for ESRT has been increased compared to 1 year ago.
The number of shares outstanding for ESRT has been reduced compared to 5 years ago.
Compared to 1 year ago, ESRT has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.60, we must say that ESRT is in the distress zone and has some risk of bankruptcy.
ESRT has a Altman-Z score (0.60) which is in line with its industry peers.
ESRT has a Debt/Equity ratio of 1.93. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.93, ESRT is doing worse than 68.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.93 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.6 |
ROIC/WACC0.5
WACC6.01%
2.3 Liquidity
A Current Ratio of 2.37 indicates that ESRT has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.37, ESRT belongs to the top of the industry, outperforming 86.05% of the companies in the same industry.
ESRT has a Quick Ratio of 2.37. This indicates that ESRT is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 2.37, ESRT belongs to the top of the industry, outperforming 86.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.37 | ||
| Quick Ratio | 2.37 |
3. Growth
3.1 Past
ESRT shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.88%.
Measured over the past years, ESRT shows a decrease in Earnings Per Share. The EPS has been decreasing by -8.83% on average per year.
Looking at the last year, ESRT shows a small growth in Revenue. The Revenue has grown by 1.78% in the last year.
The Revenue has been growing slightly by 0.98% on average over the past years.
EPS 1Y (TTM)-9.88%
EPS 3YN/A
EPS 5Y-8.83%
EPS Q2Q%120%
Revenue 1Y (TTM)1.78%
Revenue growth 3Y7.16%
Revenue growth 5Y0.98%
Sales Q2Q%-18.99%
3.2 Future
Based on estimates for the next years, ESRT will show a very negative growth in Earnings Per Share. The EPS will decrease by -37.27% on average per year.
ESRT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.75% yearly.
EPS Next Y-88.67%
EPS Next 2Y-68.83%
EPS Next 3Y-56.74%
EPS Next 5Y-37.27%
Revenue Next Year1.06%
Revenue Next 2Y2.05%
Revenue Next 3Y1.71%
Revenue Next 5Y1.75%
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 accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.95 indicates a reasonable valuation of ESRT.
ESRT's Price/Earnings ratio is rather cheap when compared to the industry. ESRT is cheaper than 96.12% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.29. ESRT is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 118.71, the valuation of ESRT can be described as expensive.
The rest of the industry has a similar Price/Forward Earnings ratio as ESRT.
ESRT's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.85.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.95 | ||
| Fwd PE | 118.71 |
4.2 Price Multiples
ESRT's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ESRT is cheaper than 89.15% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 9.43 |
4.3 Compensation for Growth
A cheap valuation may be justified as ESRT's earnings are expected to decrease with -56.74% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-68.83%
EPS Next 3Y-56.74%
5. Dividend
5.1 Amount
ESRT has a Yearly Dividend Yield of 1.90%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 1.90, ESRT pays less dividend than the industry average, which is at 6.99. 87.60% of the companies listed in the same industry pay a better dividend than ESRT!
ESRT's Dividend Yield is slightly below the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.9% |
5.2 History
The dividend of ESRT decreases each year by -17.38%.
ESRT has been paying a dividend for at least 10 years, so it has 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
5.3 Sustainability
68.41% of the earnings are spent on dividend by ESRT. 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.
DP68.41%
EPS Next 2Y-68.83%
EPS Next 3Y-56.74%
NYSE:ESRT (10/17/2025, 11:23:08 AM)
7.265
+0.1 (+1.47%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners98.25%
Inst Owner Change-0.01%
Ins Owners0.08%
Ins Owner Change0%
Market Cap1.23B
Analysts75
Price Target9.04 (24.43%)
Short Float %3.5%
Short Ratio3.97
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.9% |
Yearly Dividend0.17
Dividend Growth(5Y)-17.38%
DP68.41%
Div Incr Years0
Div Non Decr Years3
Ex-Date
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)0%
PT rev (3m)-6.34%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-22.22%
EPS NY rev (3m)-22.22%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.95 | ||
| Fwd PE | 118.71 | ||
| P/S | 1.6 | ||
| P/FCF | N/A | ||
| P/OCF | 4.69 | ||
| P/B | 1.15 | ||
| P/tB | 4.61 | ||
| EV/EBITDA | 9.43 |
EPS(TTM)0.73
EY10.05%
EPS(NY)0.06
Fwd EY0.84%
FCF(TTM)-0.87
FCFYN/A
OCF(TTM)1.55
OCFY21.32%
SpS4.53
BVpS6.3
TBVpS1.58
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.99% | ||
| ROE | 3.79% | ||
| ROCE | 3.81% | ||
| ROIC | 3.01% | ||
| ROICexc | 3.08% | ||
| ROICexgc | 3.9% | ||
| OM | 19.41% | ||
| PM (TTM) | 5.26% | ||
| GM | 54.42% | ||
| FCFM | N/A |
ROA(3y)1.03%
ROA(5y)0.49%
ROE(3y)4.33%
ROE(5y)2.08%
ROIC(3y)2.75%
ROIC(5y)2.24%
ROICexc(3y)2.99%
ROICexc(5y)2.46%
ROICexgc(3y)3.81%
ROICexgc(5y)3.15%
ROCE(3y)3.48%
ROCE(5y)2.83%
ROICexcg growth 3Y18.9%
ROICexcg growth 5Y-2.68%
ROICexc growth 3Y19.87%
ROICexc growth 5Y-1.77%
OM growth 3Y14.11%
OM growth 5Y-0.46%
PM growth 3YN/A
PM growth 5Y-1.77%
GM growth 3Y-0.96%
GM growth 5Y-0.19%
F-Score7
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.93 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 6.11 | ||
| Cap/Depr | 218.69% | ||
| Cap/Sales | 53.45% | ||
| Interest Coverage | 1.51 | ||
| Cash Conversion | 77.94% | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.37 | ||
| Quick Ratio | 2.37 | ||
| Altman-Z | 0.6 |
F-Score7
WACC6.01%
ROIC/WACC0.5
Cap/Depr(3y)133.09%
Cap/Depr(5y)115.91%
Cap/Sales(3y)34.64%
Cap/Sales(5y)32.3%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-9.88%
EPS 3YN/A
EPS 5Y-8.83%
EPS Q2Q%120%
EPS Next Y-88.67%
EPS Next 2Y-68.83%
EPS Next 3Y-56.74%
EPS Next 5Y-37.27%
Revenue 1Y (TTM)1.78%
Revenue growth 3Y7.16%
Revenue growth 5Y0.98%
Sales Q2Q%-18.99%
Revenue Next Year1.06%
Revenue Next 2Y2.05%
Revenue Next 3Y1.71%
Revenue Next 5Y1.75%
EBIT growth 1Y-2.8%
EBIT growth 3Y22.28%
EBIT growth 5Y0.51%
EBIT Next Year124.98%
EBIT Next 3Y33.35%
EBIT Next 5Y20.13%
FCF growth 1Y-427.05%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y12.55%
OCF growth 3Y7.08%
OCF growth 5Y2.32%