Highwoods Properties, Inc. logo HIW - Highwoods Properties, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 9
HOLD 13
SELL 0
STRONG
SELL
0
| PRICE TARGET: $27.33 DETAILS
HIGH: $29.00
LOW: $25.00
MEDIAN: $28.00
CONSENSUS: $27.33
UPSIDE: 6.55%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Revenue
Revenue 806.1 825.9 834.0 828.9 768.0 736.9 736.0 720.0 702.7 665.6 604.7 608.5 556.8 516.1 482.9 463.3 454.0 461.0 437.1 416.8 410.7 464.7 422.1 454.2 540.6 566.4 584.9 514.2 274.5 137.9 73.5 19.4
Cost of Revenue 261.4 272.2 268.8 259.8 236.4 231.8 248.5 242.4 236.9 231.1 215.9 225.5 203.3 187.4 176.1 164.4 164.3 165.7 157.3 153.6 17.8 168.4 147.4 0 0 0 0 0 0 0 0 0
Gross Profit 544.7 553.7 565.2 569.1 531.6 505.1 487.5 477.6 465.8 434.5 388.7 383.0 353.5 328.7 306.7 298.9 289.8 295.3 279.8 263.2 392.9 296.3 274.7 454.2 540.6 566.4 584.9 514.2 274.5 137.9 73.5 19.4
Operating Expenses
R&D Expenses 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
SG&A Expenses 40.3 41.9 42.9 42.3 40.6 41.0 44.1 40.0 39.6 38.2 37.6 36.2 37.2 37.4 35.7 32.9 36.7 38.0 41.6 37.3 33.1 41.8 24.8 24.6 21.4 21.9 22.3 20.8 10.2 5.7 2.7 0.8
Other Expenses 295.0 299.0 299.4 287.6 259.3 241.6 254.5 230.0 227.8 220.1 201.9 196.0 177.0 156.3 143.0 135.8 131.0 126.8 280.2 271.1 269.0 302.1 276.6 272.8 254.6 257.3 264.1 225.3 114.1 51.7 (30.8) (8.5)
Operating Expenses 335.3 340.9 342.3 329.9 299.8 282.6 298.6 270.0 267.5 258.3 239.6 232.2 214.2 193.7 178.7 168.7 167.7 164.8 321.8 308.4 302.1 343.9 301.4 297.3 276.0 279.2 286.4 246.0 124.3 57.4 (28.1) (7.7)
Operating Income
Operating Income 209.5 212.7 222.9 239.2 231.8 222.5 188.9 207.7 198.4 176.3 149.2 150.7 53.2 46.2 39.3 130.2 35.2 130.5 115.3 108.4 108.6 120.8 120.6 156.9 264.6 287.2 298.5 268.2 150.2 80.5 101.6 27.1
Interest Expense 152.4 147.2 136.7 105.4 85.9 81.0 81.6 71.4 69.1 76.6 86.1 85.1 92.7 96.1 96.0 93.4 86.9 98.5 100.3 0 0.6 120.0 114.3 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 2.3 2.0 2.7 6.6 7.4 7.4 6.4 8.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 610.0 550.5 587.5 557.0 668.4 680.5 477.8 407.6 419.5 342.7 387.5 311.6 317.2 294.8 269.5 235.0 167.3 250.4 177.6 151.4 216.9 484.1 534.3 888.4 335.8 347.8 413.7 362.5 200.0 104.5 114.3 30.4
EBIT 315.1 251.5 288.0 269.3 409.2 438.9 223.3 249.1 260.8 199.2 171.6 146.9 134.5 136.4 126.4 157.0 35.2 125.7 113.2 108.6 106.1 340.1 380.8 744.7 211.7 225.3 881.5 268.2 150.2 80.5 101.6 27.1
Income Before Tax 162.7 104.3 151.3 164.0 323.3 357.9 141.7 177.6 191.7 122.5 85.5 115.6 62.7 50.7 44.5 (0.5) (0.0) 32.0 90.7 53.7 8.1 41.6 55.7 165.0 280.8 291.9 0 0 0 0 0 0
Income Tax Expense 0 0 0 0 0 0 0 0 84.0 (317.3) 79.6 92.3 32.2 72.3 100.3 61.7 83.2 98.5 72.5 65.8 49.8 95.8 82.3 81.7 133.4 153.7 160.4 142.5 78.5 41.2 78.5 21.5
Net Income 159.6 102.2 148.7 159.1 313.3 347.4 136.9 171.8 185.4 524.3 97.1 111.0 125.5 79.6 45.1 68.5 58.5 32.0 90.7 53.7 62.5 41.6 55.7 93.5 131.2 133.5 138.1 125.7 71.7 39.3 23.1 5.6
Per Share Data
EPS (Basic) 1.45 0.94 1.39 1.49 2.98 3.32 0.52 1.66 1.78 5.30 1.00 1.20 1.44 1.02 0.54 0.86 0.76 0.37 1.33 0.64 0.58 0.20 0.22 0.93 1.47 1.50 1.72 1.74 1.51 1.51 1.49 0.63
EPS (Diluted) 1.45 0.94 1.39 1.49 2.98 3.32 0.51 1.62 1.78 5.30 1.00 1.19 1.44 1.02 0.54 0.86 0.76 0.37 1.31 0.62 0.58 0.20 0.22 0.93 1.46 1.50 1.71 1.74 1.50 1.51 1.48 0.63
Shares Outstanding 108.5 106.2 105.5 105.1 104.2 103.9 103.7 103.4 102.7 98.4 94.4 90.7 85.3 75.8 72.3 71.6 68.0 59.3 56.4 54.5 53.7 53.6 53.6 52.9 53.9 59.2 61.3 54.8 38.8 26.1 15.5 8.9
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Current Assets
Cash & Cash Equivalents 27.4 22.4 25.1 21.4 23.2 109.3 9.5 3.8 3.3 49.5 23.7 13.8 24.5 18.6 11.0 0.6 104.8 34.5 31.4 10.1 11.1 6.8 0
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 358.5 337.1 343.5 319.2 283.6 283.2 258.0 251.6 231.5 199.0 106.8 103.7 23.9 69.0 48.8 72.7 63.3 58.8 55.1 30.7 15.2 0 0.5
Inventory 0 55.4 0 0 0 0 0 6.4 85.1 29.1 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets (12.2) 84.0 71.6 70.3 86.6 154.2 26.0 (5.6) 113.6 69.6 6.8 2.3 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 373.6 499.0 440.2 410.8 393.3 546.7 293.6 290.6 348.5 318.1 175.3 160.3 39.9 36.4 24.6 73.3 168.1 93.3 86.6 40.9 26.3 6.8 0.5
Non-Current Assets
Property, Plant & Equipment 0 0 0 4,895.7 4,816.8 4,289.8 4,427.4 4,037.3 3,962.5 3,933.2 2,554.2 2,620.6 2,978.2 3,048.0 3,132.9 3,362.2 3,256.1 3,722.3 4,055.5 2,614.7 1,377.9 593.1 208
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 244.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 5,543.6 485.7 343.2 269.2 7.4 27.1 26.3 23.6 23.9 18.8 66.1 67.7 72.6 74.7 79.5 84.2 106.0 54.1 31.5 9.1 2.4 0 0
Other Non-Current Assets (5,316.3) 5,031.3 5,219.5 487.7 477.6 345.8 391.0 4,360.8 4,251.4 4,224.1 91.5 97.5 (2,978.2) (3,048.0) (3,132.9) (3,446.4) (3,362.1) (3,776.4) (4,087.0) (2,623.7) (1,380.3) (593.1) (208)
Total Non-Current Assets 471.6 5,517.0 5,562.7 5,652.6 5,301.8 4,662.8 4,844.7 4,384.4 4,275.3 4,242.9 2,711.8 2,785.8 72.6 74.7 79.5 3,446.4 3,362.1 3,776.4 4,087.0 2,623.7 1,380.3 593.1 208
Total Assets 6,273.8 6,029.4 6,002.9 6,063.4 5,695.1 5,209.4 5,138.2 4,675.0 4,623.8 4,561.1 2,887.1 2,946.2 3,239.7 3,326.8 3,395.4 3,648.3 3,701.6 4,016.2 4,314.3 2,722.3 1,443.4 621.1 224.8
Current Liabilities
Account Payables 0 204.2 187.3 273.2 263.3 239.4 252.5 218.9 228.2 313.9 0 0 0 0 0 0 0 0 0 0.0 0 0 0
Short-Term Debt 8.8 9.2 6.9 0 0 0 0 0 0 0 1,469.2 1,638.9 65.3 125.8 0 77.7 75.2 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 (263.3) 0 0 (4,390.2) (4,046.2) (4,010.7) 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 89.1 (0.4) 0 295.0 0 0 (31.1) (34.1) (42.5) 117.3 101.4 (65.3) (125.8) 0 (77.7) (75.2) 0 0 (55.1) (27.6) (11.1) 0
Total Current Liabilities 8.8 304.6 193.8 273.2 295.0 239.4 252.5 218.9 228.2 313.9 1,586.5 1,740.3 298.9 353.4 309.2 323.4 323.1 357.6 409.6 342.3 117.2 84.6 0
Non-Current Liabilities
Long-Term Debt 3,588.0 3,293.6 3,213.2 3,197.2 2,788.9 2,470.9 2,543.9 2,085.8 2,014.3 1,948.0 0 0 1,572.6 1,844.1 1,528.7 1,719.2 1,587.0 1,766.1 2,008.7 978.6 555.9 182.7 66.9
Deferred Tax Liabilities 0 0 0 0 0 0 0 25.6 31.7 38.1 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 200.8 95.6 108.3 28.0 0 28.5 34.3 0 0 0 0 0 (1,637.9) (1,844.1) (1,528.7) (1,719.2) (1,587.0) (1,766.1) (2,008.7) (978.6) (555.9) (182.7) (66.9)
Total Non-Current Liabilities 3,829.4 3,389.1 3,321.6 3,225.2 2,788.9 2,499.3 2,578.2 2,085.8 2,014.3 1,948.0 37.7 34.2 1,572.6 1,717.8 1,528.7 1,719.2 1,587 1,766.1 2,008.7 978.6 555.9 182.7 66.9
Total Liabilities 3,838.2 3,598.1 3,515.4 3,498.4 3,083.9 2,738.7 2,830.6 2,304.8 2,242.5 2,261.9 1,624.2 1,774.5 1,757.8 1,670.5 1,649.3 1,839.5 1,696.8 1,878.1 2,139.3 1,033.7 583.5 193.8 66.9
Stockholders' Equity
Common Stock 1.1 1.1 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 0.7 0.6 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.5 0.4 0 0
Retained Earnings (870.1) (810.6) (698.0) 0 (579.6) 0 0 (769.3) (747.3) (749.4) (701.9) (639.3) (419.1) (272.0) (197.6) (135.9) (110.2) (77.7) (48.7) (28.6) (10.6) (1.6) 0.6
Accumulated Other Comprehensive Income (2.5) (2.2) (2.0) (634.4) (1.0) (687.7) (832.3) 9.9 7.8 4.9 (3.8) (4.8) (2.8) (3.6) (9.2) (9.4) (280.6) (238.1) (169.3) (87.5) (43.2) 0 0
Total Stockholders' Equity 2,379.0 2,361.2 2,433.3 2,476.8 2,477.1 2,336.1 2,152.4 2,246.7 2,219.8 2,136.4 1,128.0 1,099.9 1,368.1 1,491.0 1,557.5 1,605.6 1,791.5 1,892.5 1,896.0 1,401.4 770.3 353.8 136.2
Total Liabilities & Equity 6,273.8 6,029.4 6,002.9 6,063.4 5,695.1 5,209.4 5,138.2 4,675.0 4,623.8 4,561.1 2,887.1 2,946.2 3,239.7 3,326.8 3,395.4 3,648.3 3,701.6 4,016.2 4,314.3 2,722.3 1,443.4 621.1 224.8
Debt Metrics
Total Debt 3,637.4 3,293.6 3,213.2 3,197.2 2,788.9 2,470.9 2,543.9 2,085.8 2,014.3 1,948.0 1,469.2 1,638.9 1,637.9 1,558.8 1,528.7 1,719.2 1,587.0 1,766.1 2,008.7 978.6 555.9 182.7 66.9
Net Debt 3,610.0 3,271.1 3,188.1 3,175.9 2,765.8 2,361.5 2,534.4 2,082.1 2,011.1 1,898.6 1,445.5 1,625.1 1,613.4 1,540.2 1,517.7 1,718.7 1,482.2 1,731.6 1,977.3 968.4 544.8 175.9 66.9
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Operating Activities
Net Income 0.1 104.3 148.7 164.0 323.3 357.9 141.7 177.6 191.7 541.1 62.5 37.3 23.8 70.7 131.9 142.9 144.1 126.4 83.3 43.9 24 6.9
Depreciation & Amortization 295.0 299.0 305.6 287.6 259.3 239.0 254.0 228.0 226.7 218.1 110.9 115.8 111.9 108.4 124.1 122.5 115.2 94.3 49.8 24.0 12.7 3.3
Stock-Based Compensation 8.2 8 0 7.6 8.6 6.2 7.2 7.5 6.7 6.3 0 0 21.4 0 0 0 0 0 0 0 0 0
Change in Working Capital (24.3) 3.9 (19.9) (16.5) (6.6) (42.5) (7.3) (27.3) (30.8) (36.9) (13.7) (5.9) (19.9) (10.5) (3.4) (14.8) (39.8) 20.5 (12.2) (0.6) 3 4.2
Other Non-Cash Items 88.4 (11.6) (40.8) (20.8) (170.1) 4.7 4.4 3.9 3.4 2.8 (5.4) 25.4 34.4 32.9 (5.0) 5.8 13.5 22.3 9.3 4.0 3.5 (1.2)
Operating Cash Flow 367.3 403.6 393.6 421.8 414.6 358.2 365.8 358.6 352.5 305.8 154.1 172.6 153.3 201.5 247.6 256.4 233.0 263.4 130.2 71.3 43.2 13.2
Investing Activities
Capital Expenditure (200.8) 0 (176.6) (0.3) 0 (2.4) (424.2) (50.6) (1.8) (110.2) (167.8) (127.0) (203.4) (130.9) (352.0) (423.2) (511.1) (943.4) (465.1) (181.4) (130.4) (17.1)
Acquisitions 0 (153.4) (18.2) (261.8) (133.4) (2.4) (10.0) (50.6) (10.1) 0.3 0 0 0 0 0 729.9 0 26.3 0 0 0 0
Purchases of Investments 0 0 (180.9) (0.0) (0.1) (160.6) (126.1) (150.3) (161.0) (185.9) 0 0 (15.9) (12.7) 0 (758.0) (701.1) (27.6) (6.7) (1.1) 0 0
Sales/Maturities of Investments 0 0 191.7 0.3 0.3 484.6 133.6 90.1 132.4 686.5 0 1.4 0 0 161.4 729.9 696.4 26.3 0 0 0 0
Other Investing Activities (448.8) (149.1) 8.1 (353.0) (154.5) (208.6) (180.7) (256.1) (244.3) 313.8 368.7 173.8 284.8 339.2 50.9 7.5 675.8 (121.6) (52.6) (304.3) (5.6) (90.8)
Investing Cash Flow (448.8) (302.4) (176.0) (614.8) (287.7) 110.7 (607.4) (306.7) (256.2) 203.9 200.9 48.2 65.5 195.6 (139.6) 286.2 160.0 (1,040.1) (524.3) (486.9) (136) (107.9)
Financing Activities
Net Debt Issuance 262.0 76.9 17.6 409.6 (83.8) (74.6) 460.1 71.1 68.4 (545.0) (109.1) (73.1) (76.9) (151.2) 128.3 (183.8) (191.4) 669.3 (140.2) 68.7 (94.8) (51.2)
Stock Repurchased (2.1) (1.4) (0.2) (5.9) (1.7) (1.2) (1.8) (1.7) (4.0) (4.4) (11.3) (1.2) (19.1) (4.4) (148.8) (101.1) (25.5) 0 0 (0.0) 0 0
Dividends Paid (219.1) (214.8) (213.5) (212.7) (206.7) (201.8) (199.4) (193.8) (264.5) (169.4) (128.7) (132.5) (142.7) (172.0) (174.4) (184.5) (186.7) (167.0) (100.1) (55.5) (29.8) (5)
Other Financing Activities (11.6) (13.2) (11.2) (10.6) (16.7) (20.3) (14.8) (9.3) (18.7) (11.1) (0.9) (14.5) 25.4 (1.5) (0.2) (3.0) (3.9) 0.4 0 0 (1.8) (7.7)
Financing Cash Flow 90.8 (99.0) (205.7) 187.9 (284.9) (294.3) 246.2 (130.1) (142.5) (465.2) (378.3) (218.0) (211.2) (386.6) (212.1) (472.3) (389.9) 797.9 393.2 419.8 93.4 100.5
Cash Position
Net Change in Cash 9.4 2.1 5.5 (5.1) (158.0) 174.5 4.6 (78.2) (46.2) 44.5 (23.3) 2.8 7.5 10.4 (104.2) 70.3 3.1 21.3 (0.9) 4.2 0.6 100.5
Cash at Beginning 33.7 31.6 26.1 31.2 189.2 14.7 10.1 88.3 49.5 5.0 24.5 21.7 11.0 0.6 104.8 34.5 31.4 10.1 11.1 6.8 6.3 0
Cash at End 43.0 33.7 31.6 26.1 31.2 189.2 14.7 10.1 3.3 49.5 1.2 24.5 18.6 11.0 0.6 104.8 34.5 31.4 10.1 11.1 6.9 100.5
Free Cash Flow 166.6 403.6 217.0 421.5 414.6 355.8 (58.4) 308.0 350.7 195.6 (13.6) 45.6 (50.1) 70.6 (104.4) (166.8) (278.1) (680.0) (334.9) (110.1) (87.2) (3.9)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Income Statement
Revenue 806.1 825.9 834.0 828.9 768.0 736.9 736.0 720.0 702.7 665.6 604.7 608.5 556.8 516.1 482.9 463.3 454.0 461.0 437.1 416.8 410.7 464.7 422.1 454.2 540.6 566.4 584.9 514.2 274.5 137.9 73.5 19.4
Gross Profit 544.7 553.7 565.2 569.1 531.6 505.1 487.5 477.6 465.8 434.5 388.7 383.0 353.5 328.7 306.7 298.9 289.8 295.3 279.8 263.2 392.9 296.3 274.7 454.2 540.6 566.4 584.9 514.2 274.5 137.9 73.5 19.4
Operating Income 209.5 212.7 222.9 239.2 231.8 222.5 188.9 207.7 198.4 176.3 149.2 150.7 53.2 46.2 39.3 130.2 35.2 130.5 115.3 108.4 108.6 120.8 120.6 156.9 264.6 287.2 298.5 268.2 150.2 80.5 101.6 27.1
Net Income 159.6 102.2 148.7 159.1 313.3 347.4 136.9 171.8 185.4 524.3 97.1 111.0 125.5 79.6 45.1 68.5 58.5 32.0 90.7 53.7 62.5 41.6 55.7 93.5 131.2 133.5 138.1 125.7 71.7 39.3 23.1 5.6
EPS (Diluted) 1.45 0.94 1.39 1.49 2.98 3.32 0.51 1.62 1.78 5.30 1.00 1.19 1.44 1.02 0.54 0.86 0.76 0.37 1.31 0.62 0.58 0.20 0.22 0.93 1.46 1.50 1.71 1.74 1.50 1.51 1.48 0.63
Balance Sheet
Cash & Equivalents 27.4 22.4 25.1 21.4 23.2 109.3 9.5 3.8 3.3 49.5 23.7 13.8 24.5 18.6 11.0 0.6 104.8 34.5 31.4 10.1 11.1 6.8 0
Total Assets 6,273.8 6,029.4 6,002.9 6,063.4 5,695.1 5,209.4 5,138.2 4,675.0 4,623.8 4,561.1 2,887.1 2,946.2 3,239.7 3,326.8 3,395.4 3,648.3 3,701.6 4,016.2 4,314.3 2,722.3 1,443.4 621.1 224.8
Total Debt 3,637.4 3,293.6 3,213.2 3,197.2 2,788.9 2,470.9 2,543.9 2,085.8 2,014.3 1,948.0 1,469.2 1,638.9 1,637.9 1,558.8 1,528.7 1,719.2 1,587.0 1,766.1 2,008.7 978.6 555.9 182.7 66.9
Stockholders' Equity 2,379.0 2,361.2 2,433.3 2,476.8 2,477.1 2,336.1 2,152.4 2,246.7 2,219.8 2,136.4 1,128.0 1,099.9 1,368.1 1,491.0 1,557.5 1,605.6 1,791.5 1,892.5 1,896.0 1,401.4 770.3 353.8 136.2
Cash Flow
Operating Cash Flow 367.3 403.6 393.6 421.8 414.6 358.2 365.8 358.6 352.5 305.8 154.1 172.6 153.3 201.5 247.6 256.4 233.0 263.4 130.2 71.3 43.2 13.2
Capital Expenditure (200.8) 0 (176.6) (0.3) 0 (2.4) (424.2) (50.6) (1.8) (110.2) (167.8) (127.0) (203.4) (130.9) (352.0) (423.2) (511.1) (943.4) (465.1) (181.4) (130.4) (17.1)
Free Cash Flow 166.6 403.6 217.0 421.5 414.6 355.8 (58.4) 308.0 350.7 195.6 (13.6) 45.6 (50.1) 70.6 (104.4) (166.8) (278.1) (680.0) (334.9) (110.1) (87.2) (3.9)