What is Empire State Realty Trust's free cash flow margin?

Empire State Realty Trust (ESRT) reported free cash flow margin of 10.4% in Q3 2025.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

Empire State Realty Trust ESRT Free cash flow margin

Free cash flow margin at other companies

Vornado RealtyVNO

75.8%+47.7pp

American Assets TrustAAT

21.1%-3.8pp

JBG SMITH PropertiesJBGS

8.2%-11.5pp

Cousins PropertiesCUZ

13.6%-3.6pp

Douglas EmmettDEI

16.9%-7.4pp

InvenTrust PropertiesIVT

36.4%-1.2pp

Other financials

Income statement

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Revenue$190.3M+5.7%

Operating income$29.5M+14.2%

Net income$3.0M-81.0%

EPS (diluted)$0.01-80.0%

Balance sheet

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Cash & equivalents$106.1M-55.3%

Total debt$2.5B+8.3%

Total equity$1.1B+3.1%

Total assets$4.4B+7.1%

Cash flow

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Operating cash flow$68.9M-17.1%

CapEx$18.2M-56.8%

Free cash flow$50.7M+23.5%

Valuation

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Market cap$889.74M-38.4%

Enterprise value$3.31B-6.5%

P/E14.8×-2.0×

P/S1.1×-0.7×

Profitability

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Operating margin17.9%-2.1pp

Net margin7.7%-3.5pp

Returns & leverage

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Return on equity5.7%-2.7pp

Debt / equity2.4×+0.1×

Where this comes from

Calculated from Empire State Realty Trust’s reported figures.

free cash flow/total revenue=10.4%

Based on trailing twelve months.

The official record: Empire State Realty Trust’s 10-Q, filed November 5, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Empire State Realty Trust's free cash flow margin?: Empire State Realty Trust (ESRT) reported free cash flow margin of 10.4% in Q3 2025.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.