Stock ESRT EMPIRE STATE REALTY TRUST, INC.
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Financials Empire State Realty Trust, Inc.

Equities

ESRT

US2921041065

Diversified REITs

Market Closed - Nyse
Other stock markets
 04:00:01 2024-04-26 pm EDT 		5-day change 1st Jan Change
9.21 USD +0.99% Intraday chart for Empire State Realty Trust, Inc. +0.66% -4.95%
Apr. 25 Transcript : Empire State Realty Trust, Inc., Q1 2024 Earnings Call, Apr 25, 2024
Apr. 24 Empire State Realty Trust, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,526 1,603 1,544 1,088 1,574 1,508 - -
Enterprise Value (EV) 1 3,960 3,213 1,544 1,088 3,436 3,402 3,415 3,456
P/E ratio 49.9 x -93.2 x -148 x 30.6 x 32.3 x 73.9 x 78.4 x 115 x
Yield 3.01% 2.25% 1.18% 2.08% 1.44% 1.57% 1.81% 2.66%
Capitalization / Revenue 4.31 x 2.85 x 2.76 x 1.84 x 2.13 x 1.98 x 1.94 x 1.95 x
EV / Revenue 6.75 x 5.71 x 2.76 x 1.84 x 4.65 x 4.47 x 4.39 x 4.47 x
EV / EBITDA 11.8 x 12.9 x 5.5 x 3.16 x 10.2 x 9.78 x 9.77 x 9.45 x
EV / FCF -224 x 82 x 13.1 x - 22.1 x 22.9 x 23.1 x 22.6 x
FCF Yield -0.45% 1.22% 7.61% - 4.52% 4.37% 4.33% 4.43%
Price to Book - - - - - - - -
Nbr of stocks (in thousands) 180,933 171,961 173,469 161,421 162,480 163,732 - -
Reference price 2 13.96 9.320 8.900 6.740 9.690 9.210 9.210 9.210
Announcement Date 2/19/20 2/17/21 2/16/22 2/15/23 2/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 586.4 563.1 559.7 591 739.6 761 777 772.2
EBITDA 1 336.3 249.7 280.9 343.9 336.6 348 349.5 365.9
EBIT 1 154.7 58.66 79.13 127 146.7 156.6 160.1 159.2
Operating Margin 26.38% 10.42% 14.14% 21.49% 19.84% 20.58% 20.61% 20.61%
Earnings before Tax (EBT) 1 86.72 -29.86 -14.77 - 87.12 54.5 59.75 57.01
Net income 1 49.44 -16.71 -10.71 36.44 49.04 26.76 31.21 22.08
Net margin 8.43% -2.97% -1.91% 6.17% 6.63% 3.52% 4.02% 2.86%
EPS 2 0.2800 -0.1000 -0.0600 0.2200 0.3000 0.1247 0.1174 0.0800
Free Cash Flow 1 -17.66 39.18 117.4 - 155.2 148.7 148 153
FCF margin -3.01% 6.96% 20.98% - 20.98% 19.54% 19.05% 19.81%
FCF Conversion (EBITDA) - 15.69% 41.81% - 46.09% 42.73% 42.34% 41.81%
FCF Conversion (Net income) - - - - 316.38% 555.56% 474.15% 692.82%
Dividend per Share 2 0.4200 0.2100 0.1050 0.1400 0.1400 0.1448 0.1670 0.2454
Announcement Date 2/19/20 2/17/21 2/16/22 2/15/23 2/20/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 139.6 139.1 164 149.3 148.3 145.9 164.6 190.5 191.5 192.9 181.2 189.4 196.2 197 180.4
EBITDA 1 79 67.56 73.15 104.8 82.51 83.45 64.9 92.47 93.34 90.37 77.14 89.2 89.7 91.8 80
EBIT 1 13.2 21.1 6.048 46.5 35.53 38.95 17.49 46.19 42.26 40.77 31.06 41.18 42.79 43.42 28.8
Operating Margin 9.46% 15.17% 3.69% 31.14% 23.96% 26.7% 10.62% 24.24% 22.06% 21.14% 17.14% 21.74% 21.8% 22.03% 15.97%
Earnings before Tax (EBT) 1 - -2.537 -18.82 49.06 - - - - 21.34 - 9.56 16.52 16.58 15.49 -
Net income 1 -6.977 -3.188 -11.29 29.58 5.557 12.6 6.519 21.85 11.56 9.111 5.661 8.234 8.778 9.716 1.8
Net margin -5% -2.29% -6.88% 19.81% 3.75% 8.63% 3.96% 11.47% 6.04% 4.72% 3.12% 4.35% 4.47% 4.93% 1%
EPS 2 - -0.0200 -0.0700 0.1800 - - 0.0400 0.1400 0.0700 0.0600 0.0300 0.0437 0.0545 0.0545 -
Dividend per Share 2 0.0350 0.0350 0.0350 0.0350 0.0350 0.0350 0.0350 0.0350 0.0350 0.0350 0.0377 0.0377 0.0377 0.0377 0.0390
Announcement Date 10/27/21 2/16/22 4/27/22 7/27/22 10/26/22 2/15/23 4/26/23 7/26/23 10/25/23 2/20/24 4/24/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,435 1,610 - - 1,862 1,894 1,907 1,948
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.266 x 6.448 x - - 5.532 x 5.444 x 5.455 x 5.323 x
Free Cash Flow 1 -17.7 39.2 117 - 155 149 148 153
ROE (net income / shareholders' equity) 4.01% -1.46% -0.63% 2.16% 2.41% 2.36% 2.7% 2.96%
ROA (Net income/ Total Assets) 1.22% -0.41% -0.25% 0.86% 0.98% 0.7% 0.5% 0.5%
Assets 1 4,064 4,042 4,217 4,223 4,996 3,823 6,242 4,416
Book Value Per Share - - - - - - - -
Cash Flow per Share 2 0.7800 0.6400 0.7700 - 0.8800 0.3800 0.4000 -
Capex 1 250 143 95 - 77.3 120 133 133
Capex / Sales 42.68% 25.42% 16.98% - 10.46% 15.83% 17.05% 17.19%
Announcement Date 2/19/20 2/17/21 2/16/22 2/15/23 2/20/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Empire State Realty Trust, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
9.21 USD
Average target price
9.85 USD
Spread / Average Target
+6.95%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Diversified REITs
  1. Stock Market
  2. Equities
  3. ESRT Stock
  4. Financials Empire State Realty Trust, Inc.