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Douglas Emmett DEI Rental revenue - tenant improvements — Total revenues

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Other financials

Income statement

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Revenue$256.5M+1.6%
Net income-$2.7M+54.1%
EPS (diluted)-$0.02+50.0%

Balance sheet

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Cash & equivalents$355.0M-16.8%
Total debt$5.7B+2.9%
Total equity$1.8B-8.0%
Total assets$9.6B+1.2%

Cash flow

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Operating cash flow$96.1M+18.3%
CapEx$56.3M+10.1%
Free cash flow$39.9M+32.2%

Valuation

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Market cap$1.93B-21.6%
Enterprise value$7.3B-3.9%
P/S1.9×-0.5×

Profitability

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Operating margin19.2%
Net margin-3.6%-7.4pp
FCF margin17.8%-4.1pp

Returns & leverage

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Return on equity-1.9%-3.7pp
Debt / equity3.1×+0.3×

Where this comes from

Reported directly by Douglas Emmett in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

The source filing: Douglas Emmett’s 10-K, filed February 20, 2026.

Filed
Feb 20, 2026, 4:50 PM EST
Fiscal year
FY2025
Accession
0001364250-26-000011

Tenant improvements constructed, and owned by us, and reimbursed by tenants are recorded as our assets, and the related revenue, which is included in Rental revenues and tenant recoveries on our consolidated statements of operations, is recognized over the related lease term. We recognized revenue for reimbursement of tenant improvements of $7.5 million, $7.0 million and $5.8 million during 2025, 2024 and 2023, respectively.

Item 16. Form 10-K Summary

FAQ

What is Douglas Emmett's rental revenue - tenant improvements — total revenues?
Douglas Emmett (DEI) reported rental revenue - tenant improvements — total revenues of $1.88M in Q4 2025.
How has Douglas Emmett's rental revenue - tenant improvements — total revenues changed year-over-year?
Douglas Emmett's rental revenue - tenant improvements — total revenues increased by 7.1% year-over-year, from $1.75M to $1.88M.
What is the long-term trend for Douglas Emmett's rental revenue - tenant improvements — total revenues?
Over 4 years (2021 to 2025), Douglas Emmett's rental revenue - tenant improvements — total revenues has grown at a 6.6% compound annual growth rate (CAGR), from $5.8M to $7.5M.
What does rental revenue - tenant improvements — total revenues mean?
This metric represents the portion of total rental revenue specifically attributed to tenant improvement reimbursements or amortized tenant improvement allowances. It reflects the income generated from capital investments made to customize leased office or multifamily spaces to meet specific tenant requirements. Monitoring this revenue stream helps investors assess the company's ability to recover capital expenditures through lease agreements and the overall demand for high-quality, customized commercial space.

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