HIGHWOODS PROPERTIES INC (HIW) Fundamental Analysis & Valuation

NYSE:HIW • US4312841087

Current stock price

20.58 USD
-0.47 (-2.23%)
At close:
20.58 USD
0 (0%)
After Hours:

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

5

1. HIW Profitability Analysis

1.1 Basic Checks

  • In the past year HIW was profitable.
  • In the past year HIW had a positive cash flow from operations.
  • In the past 5 years HIW has always been profitable.
  • In the past 5 years HIW always reported a positive cash flow from operatings.
HIW Yearly Net Income VS EBIT VS OCF VS FCFHIW 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 200M 300M 400M 500M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 2.51%, HIW is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • With a decent Return On Equity value of 6.61%, HIW is doing good in the industry, outperforming 73.98% of the companies in the same industry.
  • With a Return On Invested Capital value of 2.76%, HIW perfoms like the industry average, outperforming 49.59% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for HIW is in line with the industry average of 3.13%.
Industry RankSector Rank
ROA 2.51%
ROE 6.61%
ROIC 2.76%
ROA(3y)2.2%
ROA(5y)2.93%
ROE(3y)5.61%
ROE(5y)7.14%
ROIC(3y)2.92%
ROIC(5y)3.11%
HIW Yearly ROA, ROE, ROICHIW Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • The Profit Margin of HIW (19.51%) is better than 68.29% of its industry peers.
  • In the last couple of years the Profit Margin of HIW has declined.
  • The Operating Margin of HIW (25.99%) is comparable to the rest of the industry.
  • HIW's Operating Margin has declined in the last couple of years.
  • The Gross Margin of HIW (67.58%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of HIW has remained more or less at the same level.
Industry RankSector Rank
OM 25.99%
PM (TTM) 19.51%
GM 67.58%
OM growth 3Y-3.43%
OM growth 5Y-2.96%
PM growth 3Y1.07%
PM growth 5Y-16.06%
GM growth 3Y-0.53%
GM growth 5Y-0.28%
HIW Yearly Profit, Operating, Gross MarginsHIW Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

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4

2. HIW Health Analysis

2.1 Basic Checks

  • HIW has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, HIW has more shares outstanding
  • The number of shares outstanding for HIW has been increased compared to 5 years ago.
  • The debt/assets ratio for HIW is higher compared to a year ago.
HIW Yearly Shares OutstandingHIW Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
HIW Yearly Total Debt VS Total AssetsHIW Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • Based on the Altman-Z score of 0.43, we must say that HIW is in the distress zone and has some risk of bankruptcy.
  • HIW's Altman-Z score of 0.43 is in line compared to the rest of the industry. HIW outperforms 49.59% of its industry peers.
  • The Debt to FCF ratio of HIW is 11.48, which is on the high side as it means it would take HIW, 11.48 years of fcf income to pay off all of its debts.
  • HIW's Debt to FCF ratio of 11.48 is amongst the best of the industry. HIW outperforms 86.99% of its industry peers.
  • A Debt/Equity ratio of 1.49 is on the high side and indicates that HIW has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.49, HIW is in line with its industry, outperforming 40.65% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 11.48
Altman-Z 0.43
ROIC/WACC0.44
WACC6.2%
HIW Yearly LT Debt VS Equity VS FCFHIW Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 1.48 indicates that HIW should not have too much problems paying its short term obligations.
  • HIW has a Current ratio of 1.48. This is in the better half of the industry: HIW outperforms 73.17% of its industry peers.
  • A Quick Ratio of 1.39 indicates that HIW should not have too much problems paying its short term obligations.
  • HIW has a better Quick ratio (1.39) than 68.29% of its industry peers.
Industry RankSector Rank
Current Ratio 1.48
Quick Ratio 1.39
HIW Yearly Current Assets VS Current LiabilitesHIW Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M

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4

3. HIW Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 28.21% over the past year.
  • HIW shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -14.74% yearly.
  • The Revenue has decreased by -2.39% in the past year.
  • The Revenue has been growing slightly by 1.81% on average over the past years.
EPS 1Y (TTM)28.21%
EPS 3Y0.45%
EPS 5Y-14.74%
EPS Q2Q%57.89%
Revenue 1Y (TTM)-2.39%
Revenue growth 3Y-0.92%
Revenue growth 5Y1.81%
Sales Q2Q%-1.06%

3.2 Future

  • The Earnings Per Share is expected to decrease by -12.35% on average over the next years. This is quite bad
  • Based on estimates for the next years, HIW will show a small growth in Revenue. The Revenue will grow by 4.89% on average per year.
EPS Next Y-56.68%
EPS Next 2Y-27.68%
EPS Next 3Y-12.35%
EPS Next 5YN/A
Revenue Next Year4.96%
Revenue Next 2Y4.28%
Revenue Next 3Y3.5%
Revenue Next 5Y4.89%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
HIW Yearly Revenue VS EstimatesHIW Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
HIW Yearly EPS VS EstimatesHIW Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4 5

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4

4. HIW Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 13.72, the valuation of HIW can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of HIW indicates a rather cheap valuation: HIW is cheaper than 91.87% of the companies listed in the same industry.
  • HIW is valuated rather cheaply when we compare the Price/Earnings ratio to 24.88, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 31.67, the valuation of HIW can be described as expensive.
  • Based on the Price/Forward Earnings ratio, HIW is valued a bit cheaper than the industry average as 74.80% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of HIW to the average of the S&P500 Index (22.19), we can say HIW is valued slightly more expensively.
Industry RankSector Rank
PE 13.72
Fwd PE 31.67
HIW Price Earnings VS Forward Price EarningsHIW Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • HIW's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HIW is cheaper than 68.29% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, HIW is valued cheaply inside the industry as 94.31% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 7.31
EV/EBITDA 11.58
HIW Per share dataHIW EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • A cheap valuation may be justified as HIW's earnings are expected to decrease with -12.35% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-27.68%
EPS Next 3Y-12.35%

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7

5. HIW Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 9.50%, HIW is a good candidate for dividend investing.
  • HIW's Dividend Yield is rather good when compared to the industry average which is at 7.55. HIW pays more dividend than 86.18% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.89, HIW pays a better dividend.
Industry RankSector Rank
Dividend Yield 9.5%

5.2 History

  • The dividend of HIW has a limited annual growth rate of 0.72%.
  • HIW has paid a dividend for at least 10 years, which is a reliable track record.
  • HIW has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.72%
Div Incr Years0
Div Non Decr Years20
HIW Yearly Dividends per shareHIW Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

5.3 Sustainability

  • 139.32% of the earnings are spent on dividend by HIW. This is not a sustainable payout ratio.
  • The Dividend Rate of HIW has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP139.32%
EPS Next 2Y-27.68%
EPS Next 3Y-12.35%
HIW Yearly Income VS Free CF VS DividendHIW Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M 300M 400M 500M
HIW Dividend Payout.HIW Dividend Payout, showing the Payout Ratio.HIW Dividend Payout.PayoutRetained Earnings

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HIW Fundamentals: All Metrics, Ratios and Statistics

HIGHWOODS PROPERTIES INC

NYSE:HIW (3/27/2026, 8:23:36 PM)

After market: 20.58 0 (0%)

20.58

-0.47 (-2.23%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-10
Earnings (Next)04-27
Inst Owners103.01%
Inst Owner Change-1.82%
Ins Owners1.86%
Ins Owner Change10.07%
Market Cap2.26B
Revenue(TTM)806.11M
Net Income(TTM)157.25M
Analysts68.57
Price Target26.18 (27.21%)
Short Float %6.41%
Short Ratio4.73
Dividend
Industry RankSector Rank
Dividend Yield 9.5%
Yearly Dividend2.01
Dividend Growth(5Y)0.72%
DP139.32%
Div Incr Years0
Div Non Decr Years20
Ex-Date02-17
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)9.72%
Min EPS beat(2)-29.07%
Max EPS beat(2)48.51%
EPS beat(4)2
Avg EPS beat(4)82.13%
Min EPS beat(4)-29.07%
Max EPS beat(4)314.25%
EPS beat(8)5
Avg EPS beat(8)64.27%
EPS beat(12)8
Avg EPS beat(12)51.48%
EPS beat(16)10
Avg EPS beat(16)39.15%
Revenue beat(2)0
Avg Revenue beat(2)-3.03%
Min Revenue beat(2)-3.13%
Max Revenue beat(2)-2.94%
Revenue beat(4)0
Avg Revenue beat(4)-2.67%
Min Revenue beat(4)-3.13%
Max Revenue beat(4)-2.25%
Revenue beat(8)1
Avg Revenue beat(8)-1.53%
Revenue beat(12)1
Avg Revenue beat(12)-1.57%
Revenue beat(16)2
Avg Revenue beat(16)-1.28%
PT rev (1m)-4.6%
PT rev (3m)-10.17%
EPS NQ rev (1m)-62.32%
EPS NQ rev (3m)-37.1%
EPS NY rev (1m)-32.04%
EPS NY rev (3m)-13.36%
Revenue NQ rev (1m)-1.12%
Revenue NQ rev (3m)0.24%
Revenue NY rev (1m)-1.21%
Revenue NY rev (3m)-0.82%
Valuation
Industry RankSector Rank
PE 13.72
Fwd PE 31.67
P/S 2.81
P/FCF 7.31
P/OCF 6.3
P/B 0.95
P/tB 0.95
EV/EBITDA 11.58
EPS(TTM)1.5
EY7.29%
EPS(NY)0.65
Fwd EY3.16%
FCF(TTM)2.82
FCFY13.68%
OCF(TTM)3.27
OCFY15.88%
SpS7.33
BVpS21.64
TBVpS21.64
PEG (NY)N/A
PEG (5Y)N/A
Graham Number27.03
Profitability
Industry RankSector Rank
ROA 2.51%
ROE 6.61%
ROCE 3.49%
ROIC 2.76%
ROICexc 2.77%
ROICexgc 2.77%
OM 25.99%
PM (TTM) 19.51%
GM 67.58%
FCFM 38.39%
ROA(3y)2.2%
ROA(5y)2.93%
ROE(3y)5.61%
ROE(5y)7.14%
ROIC(3y)2.92%
ROIC(5y)3.11%
ROICexc(3y)2.94%
ROICexc(5y)3.12%
ROICexgc(3y)2.94%
ROICexgc(5y)3.12%
ROCE(3y)3.7%
ROCE(5y)3.94%
ROICexgc growth 3Y-5.47%
ROICexgc growth 5Y-5.79%
ROICexc growth 3Y-5.47%
ROICexc growth 5Y-5.79%
OM growth 3Y-3.43%
OM growth 5Y-2.96%
PM growth 3Y1.07%
PM growth 5Y-16.06%
GM growth 3Y-0.53%
GM growth 5Y-0.28%
F-Score6
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 1.49
Debt/FCF 11.48
Debt/EBITDA 7.05
Cap/Depr 16.86%
Cap/Sales 6.17%
Interest Coverage 1.45
Cash Conversion 71.21%
Profit Quality 196.8%
Current Ratio 1.48
Quick Ratio 1.39
Altman-Z 0.43
F-Score6
WACC6.2%
ROIC/WACC0.44
Cap/Depr(3y)21.58%
Cap/Depr(5y)46.7%
Cap/Sales(3y)7.8%
Cap/Sales(5y)16.24%
Profit Quality(3y)249.74%
Profit Quality(5y)185.4%
High Growth Momentum
Growth
EPS 1Y (TTM)28.21%
EPS 3Y0.45%
EPS 5Y-14.74%
EPS Q2Q%57.89%
EPS Next Y-56.68%
EPS Next 2Y-27.68%
EPS Next 3Y-12.35%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.39%
Revenue growth 3Y-0.92%
Revenue growth 5Y1.81%
Sales Q2Q%-1.06%
Revenue Next Year4.96%
Revenue Next 2Y4.28%
Revenue Next 3Y3.5%
Revenue Next 5Y4.89%
EBIT growth 1Y-2%
EBIT growth 3Y-4.33%
EBIT growth 5Y-1.2%
EBIT Next Year152.35%
EBIT Next 3Y38.31%
EBIT Next 5Y27.63%
FCF growth 1Y-13.66%
FCF growth 3Y19.73%
FCF growth 5YN/A
OCF growth 1Y-11%
OCF growth 3Y-5.21%
OCF growth 5Y0.06%

HIGHWOODS PROPERTIES INC / HIW Fundamental Analysis FAQ

What is the fundamental rating for HIW stock?

ChartMill assigns a fundamental rating of 5 / 10 to HIW.


Can you provide the valuation status for HIGHWOODS PROPERTIES INC?

ChartMill assigns a valuation rating of 4 / 10 to HIGHWOODS PROPERTIES INC (HIW). This can be considered as Fairly Valued.


How profitable is HIGHWOODS PROPERTIES INC (HIW) stock?

HIGHWOODS PROPERTIES INC (HIW) has a profitability rating of 5 / 10.


How financially healthy is HIGHWOODS PROPERTIES INC?

The financial health rating of HIGHWOODS PROPERTIES INC (HIW) is 4 / 10.


Can you provide the dividend sustainability for HIW stock?

The dividend rating of HIGHWOODS PROPERTIES INC (HIW) is 7 / 10 and the dividend payout ratio is 139.32%.