HIW
Highwoods Properties Inc
NYSE: HIW · REAL ESTATE · REIT - OFFICE
$23.73
-4.78% today
Updated 2026-04-29
Market cap
$2.66B
P/E ratio
16.37
P/S ratio
3.30x
EPS (TTM)
$1.45
Dividend yield
—
52W range
$20 – $32
Volume
1.4M
Highwoods Properties Inc (HIW) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $416.80M | $437.06M | $461.00M | $454.03M | $463.32M | $482.85M | $516.10M | $556.81M | $608.47M | $604.67M | $665.63M | $702.74M | $720.03M | $735.98M | $736.90M | $768.01M | $828.93M | $834.00M | $825.86M | $806.11M |
| Revenue growth (YoY) | — | +4.9% | +5.5% | -1.5% | +2.0% | +4.2% | +6.9% | +7.9% | +9.3% | -0.6% | +10.1% | +5.6% | +2.5% | +2.2% | +0.1% | +4.2% | +7.9% | +0.6% | -1.0% | -2.4% |
| Cost of revenue | $153.59M | $157.26M | $165.73M | $164.25M | $164.39M | $176.15M | $187.43M | $203.34M | $225.50M | $215.94M | $231.09M | $236.89M | $242.41M | $248.51M | $231.82M | $236.44M | $259.81M | $268.78M | $272.17M | $261.37M |
| Gross profit | $263.21M | $279.80M | $295.27M | $289.77M | $298.93M | $306.70M | $328.67M | $353.47M | $382.96M | $388.73M | $434.55M | $465.85M | $477.62M | $487.47M | $505.07M | $531.57M | $569.12M | $565.22M | $553.69M | $544.74M |
| Gross margin | 63.1% | 64.0% | 64.0% | 63.8% | 64.5% | 63.5% | 63.7% | 63.5% | 62.9% | 64.3% | 65.3% | 66.3% | 66.3% | 66.2% | 68.5% | 69.2% | 68.7% | 67.8% | 67.0% | 67.6% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| SG&A | $37.31M | $41.57M | $38.04M | $36.68M | $32.95M | $35.73M | $37.38M | $37.19M | $36.22M | $37.64M | $38.15M | $39.65M | $40.01M | $44.07M | $41.03M | $40.55M | $42.27M | $42.86M | $41.90M | $40.31M |
| Operating income | $108.36M | $115.26M | $130.46M | $35.17M | $130.19M | $39.35M | $46.21M | $53.21M | $150.72M | $149.17M | $176.26M | $198.37M | $207.66M | $188.90M | $222.46M | $231.76M | $239.25M | $222.95M | $212.74M | $209.48M |
| Operating margin | 26.0% | 26.4% | 28.3% | 7.7% | 28.1% | 8.1% | 9.0% | 9.6% | 24.8% | 24.7% | 26.5% | 28.2% | 28.8% | 25.7% | 30.2% | 30.2% | 28.9% | 26.7% | 25.8% | 26.0% |
| EBITDA | $151.40M | $177.57M | $250.40M | $167.32M | $235.01M | $269.54M | $294.75M | $317.24M | $311.61M | $387.53M | $342.69M | $419.50M | $407.58M | $477.83M | $680.46M | $668.42M | $556.95M | $587.45M | $550.50M | $610.04M |
| EBITDA margin | 36.3% | 40.6% | 54.3% | 36.9% | 50.7% | 55.8% | 57.1% | 57.0% | 51.2% | 64.1% | 51.5% | 59.7% | 56.6% | 64.9% | 92.3% | 87.0% | 67.2% | 70.4% | 66.7% | 75.7% |
| EBIT | $47.63M | $68.02M | $123.63M | $50.50M | $98.86M | $126.39M | $136.07M | $134.18M | $115.15M | $171.49M | $-152.32M | $-89.56M | $-108.38M | $223.33M | $438.88M | $409.16M | $269.34M | $288.04M | $251.45M | $315.08M |
| Interest expense | $0.00 | $100.34M | $98.49M | $86.87M | $93.37M | $96.00M | $96.11M | $92.70M | $85.13M | $86.05M | $76.65M | $69.11M | $71.42M | $81.65M | $80.96M | $85.85M | $105.39M | $136.71M | $147.20M | $152.43M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $53.74M | $90.75M | $31.99M | $58.49M | $68.50M | $45.13M | $79.59M | $125.46M | $110.96M | $97.08M | $524.29M | $185.37M | $171.84M | $136.92M | $347.40M | $313.28M | $159.06M | $148.72M | $102.25M | $159.61M |
| Net income growth (YoY) | — | +68.8% | -64.7% | +82.8% | +17.1% | -34.1% | +76.4% | +57.6% | -11.6% | -12.5% | +440.1% | -64.6% | -7.3% | -20.3% | +153.7% | -9.8% | -49.2% | -6.5% | -31.2% | +56.1% |
| Profit margin | 12.9% | 20.8% | 6.9% | 12.9% | 14.8% | 9.3% | 15.4% | 22.5% | 18.2% | 16.1% | 78.8% | 26.4% | 23.9% | 18.6% | 47.1% | 40.8% | 19.2% | 17.8% | 12.4% | 19.8% |