Highwoods Properties, Inc.
Real EstateNYSE:HIW · New York Stock Exchange
-$0.41 today
Vol 1.09M · Avg 1.33M
Income Statement
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Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$819.8M of revenue converted into $93.5M of net income for the selected period. Gross margin is 67.4% and net margin is 11.3%, showing how much revenue survives after costs and taxes. EPS is $0.84, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $806.1M -2.4% | $825.9M -1.0% | $834.0M +0.6% | $828.9M +7.9% | $768.0M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $261.4M -4.0% | $272.2M +1.3% | $268.8M +3.5% | $259.8M +9.9% | $236.4M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $544.7M -1.6% | $553.7M -2.0% | $565.2M -0.7% | $569.1M +7.1% | $531.6M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 67.6% +0.5pp | 67.0% -0.7pp | 67.8% -0.9pp | 68.7% -0.6pp | 69.2% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $40.3M -3.8% | $41.9M -2.2% | $42.9M +1.4% | $42.3M +4.2% | $40.6M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $335.3M -1.7% | $340.9M -0.4% | $342.3M +3.8% | $329.9M +10.0% | $299.8M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $295.0M -1.4% | $299.0M -0.1% | $299.4M +4.1% | $287.6M +10.9% | $259.3M | $374.2M | $1.2B | $631.8M |
| EBITDA | $610.0M +10.8% | $550.5M -6.3% | $587.5M +5.5% | $557.0M -16.7% | $668.4M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 75.7% +9.0pp | 66.7% -3.8pp | 70.4% +3.2pp | 67.2% -19.8pp | 87.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $209.5M -1.5% | $212.7M -4.6% | $222.9M -6.8% | $239.2M +3.2% | $231.8M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 26.0% +0.2pp | 25.8% -1.0pp | 26.7% -2.1pp | 28.9% -1.3pp | 30.2% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $152.4M +3.6% | $147.2M +7.7% | $136.7M +29.7% | $105.4M +22.8% | $85.9M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$46.8M +56.8% | -$108.5M -51.5% | -$71.6M +4.9% | -$75.3M -182.2% | $91.5M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $162.7M +56.0% | $104.3M -31.1% | $151.3M -7.7% | $164.0M -49.3% | $323.3M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 20.2% +7.6pp | 12.6% -5.5pp | 18.1% -1.6pp | 19.8% -22.3pp | 42.1% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $1.3B | -$1.6B | $745.2M |
| Net Income | $159.6M +56.1% | $102.2M -31.2% | $148.7M -6.5% | $159.1M -49.2% | $313.3M | $4.9B | $4.8B | $4.7B |
| Net Margin | 19.8% +7.4pp | 12.4% -5.5pp | 17.8% -1.4pp | 19.2% -21.6pp | 40.8% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $1 +54.3% | $1 -32.4% | $1 -6.7% | $1 -50.0% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $1 +54.3% | $1 -32.4% | $1 -6.7% | $1 -50.0% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $108.5M +2.2% | $106.2M +0.6% | $105.5M +0.4% | $105.1M +0.9% | $104.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $110.6M +2.1% | $108.3M +0.5% | $107.8M +2.5% | $105.1M -1.8% | $107.1M | $1.2B | $924.4M | $678.0M |
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How much revenue does HIW generate?
Highwoods Properties, Inc. (HIW) reported $806.11M of revenue in fiscal 2025.
Is HIW profitable?
Highwoods Properties, Inc. (HIW) reported $159.61M of net income, with a net margin of 19.8%.
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