HIW
$29.20+2.38%
Highwoods Properties Inc.Stock · Real EstateUS REITs · 0.2% of VNQRussell 2000 · 0.1% of IWMUS Stock Market · 0.005% of VTIRussell 3000 · 0.004% of IWV
HIW financial statements
The full income statement, balance sheet, and cash-flow statement for Highwoods Properties Inc. (HIW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 106.0M2024-09 106.0M2024-12 107.6M2025-03 107.8M2025-06 108.1M2025-09 109.9M2025-12 109.9M2026-03 110.3M2026-06 110.3M+4.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 806M-2.4% | 826M-1.0% | 834M+0.6% | 829M+7.9% | 768M+4.2% | ||
| Lease income | 789M-2.8% | 812M-1.0% | 820M+0.4% | 816M+8.1% | 755M+4.0% | |
| 605M-5.1% | 638M+4.4% | 611M-2.4% | 626M+16.8% | 536M+3.9% | ||
| Selling, general & administrative | 40.3M-3.8% | 41.9M-2.2% | 42.9M+1.4% | 42.3M+4.2% | 40.6M-1.2% | |
| General & administrative | 40.3M-3.8% | 41.9M-2.2% | 42.9M+1.4% | 42.3M+4.2% | 40.6M-1.2% | |
| Provision for credit losses | -118K-105.2% | 2.29M-40.3% | 3.83M+19.8% | 3.20M+652.7% | 425K-92.2% | |
| Operating income | 545M-1.6% | 554M-2.0% | 565M-0.7% | 569M+7.1% | 532M+5.2% | |
| Interest expense | 152M+3.6% | 147M+7.7% | 137M+29.7% | 105M+22.8% | 85.9M+6.0% | |
| Other non-operating income | 9.59M-22.3% | 12.3M+178.2% | 4.43M+189.9% | 1.53M+9.8% | 1.39M+181.7% | |
| Equity-method income | 2.37M-43.0% | 4.16M+275.6% | 1.11M-27.9% | 1.53M-21.2% | 1.95M-51.4% | |
| 163M+56.0% | 104M-31.1% | 151M-7.7% | 164M-49.3% | 323M-9.7% | ||
| Net income to common | 157M+57.6% | 99.8M-31.8% | 146M-6.6% | 157M-49.6% | 311M-9.9% | |
| $1.45+54.3% | $0.94-32.4% | $1.39-6.7% | $1.49-50.0% | $2.98-10.2% | ||
| EPS (basic) | $1.45+54.3% | $0.94-32.4% | $1.39-6.7% | $1.49-50.0% | $2.98-10.2% | |
| Weighted-avg shares (basic) | 108M+2.2% | 106M+0.6% | 106M+0.4% | 105M+0.9% | 104M+0.3% | |
| Weighted-avg shares (diluted) | 111M+2.1% | 108M+0.5% | 108M+0.2% | 108M+0.5% | 107M+0.3% | |
| Dividends per share | $1.97-0.1% | $1.97-1.2% | $2.00-0.1% | $2.00+2.6% | $1.95+1.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 27.4M+22.1% | 22.4M-10.8% | 25.1M+17.6% | 21.4M-7.8% | 23.2M-78.8% | |
| 6.27B+4.1% | 6.03B+0.4% | 6.00B-1.0% | 6.06B+6.5% | 5.70B+9.3% | ||
| Intangible assets | 244M+16.3% | 210M-7.1% | 226M-10.6% | 253M-2.3% | 259M+23.7% | |
| 3.84B+6.7% | 3.60B+2.4% | 3.52B+0.5% | 3.50B+13.4% | 3.08B+12.6% | ||
| Operating lease liability (total) | 27.1M-2.4% | 27.8M-14.4% | 32.5M-2.0% | 33.2M-1.9% | 33.8M-1.7% | |
| Finance lease liability (total) | — | — | — | 5.30M+0.0% | 5.30M | |
| 2.38B+0.8% | 2.36B-3.0% | 2.43B-1.8% | 2.48B-0.0% | 2.48B+6.0% | ||
| Preferred stock | 26.7M-7.4% | 28.8M+0.0% | 28.8M-0.0% | 28.8M+0.0% | 28.8M-0.0% | |
| Common stock | 1.10M+2.1% | 1.08M+1.8% | 1.06M+0.5% | 1.05M+0.3% | 1.05M+1.0% | |
| Additional paid-in capital | 3.22B+2.5% | 3.14B+1.3% | 3.10B+0.7% | 3.08B+1.8% | 3.03B+1.1% | |
| Retained earnings | -870M-7.3% | -811M-16.1% | -698M-10.2% | -633M-9.2% | -580M+15.5% | |
| Accumulated other comprehensive income | -2.49M-11.0% | -2.25M-12.5% | -2.00M-64.9% | -1.21M-24.5% | -973K+33.4% | |
| Non-controlling interest | 3.90M-9.2% | 4.29M-9.2% | 4.72M-78.7% | 22.2M-0.8% | 22.4M+1.7% | |
| Total equity incl. non-controlling | 2.38B+0.7% | 2.37B-3.0% | 2.44B-2.4% | 2.50B-0.0% | 2.50B+6.0% | |
| Total liabilities & equity | 6.27B+4.1% | 6.03B+0.4% | 6.00B-1.0% | 6.06B+6.5% | 5.70B+9.3% | |
| Common shares issued | 110M+2.1% | 108M+1.8% | 106M+0.5% | 105M+0.3% | 105M+0.9% | |
| Common shares outstanding | 110M+2.1% | 108M+1.8% | 106M+0.5% | 105M+0.3% | 105M+0.9% | |
| Shares outstanding (cover) | 110M+2.1% | 108M+1.8% | 106M+0.5% | 105M+0.3% | 105M+0.9% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 359M-11.0% | 404M+4.3% | 387M-8.3% | 422M+1.7% | 415M+15.7% | ||
| Depreciation & amortization | 295M-1.4% | 299M-0.1% | 299M+4.1% | 288M+10.9% | 259M+7.3% | |
| Share-based compensation | 8.21M+2.6% | 8.00M+14.5% | 6.98M-7.5% | 7.55M-12.7% | 8.65M+39.2% | |
| Change in receivables | -1.44M-144.8% | 3.22M+489.0% | 547K-95.0% | 11.0M+290.7% | -5.74M-1214.4% | |
| -441M-45.7% | -302M-78.2% | -170M+72.4% | -615M-113.7% | -288M-359.9% | ||
| Capital expenditure | 442M+768.5% | 50.8M+174.1% | 18.5M-91.8% | 225M-26.3% | 305M+12819.6% | |
| Free cash flow | -82.3M-123.3% | 353M-4.3% | 368M+87.2% | 197M+80.2% | 109M-69.3% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other investing activities | 2.13M-15.4% | 2.51M-66.2% | 7.43M+435.0% | 1.39M-57.8% | 3.29M-69.7% | |
| 90.8M+191.7% | -99.0M+51.8% | -205M-209.3% | 188M+166.0% | -285M+3.2% | ||
| Long-term debt issued | 380M | 0.00-100.0% | 590M+7.3% | 550M+175.0% | 200M-49.8% | |
| Long-term debt repaid | 38.9M+450.9% | 7.06M-96.6% | 207M-54.7% | 456M+29.0% | 354M+40.4% | |
| Common stock issued | 63.0M+17.8% | 53.5M+2974.0% | 1.74M-77.0% | 7.57M-68.3% | 23.9M+569.8% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 217M+2.1% | 212M+0.6% | 211M+0.4% | 210M+2.9% | 204M+2.4% | |
| Net change in cash | 9.37M+344.6% | 2.11M-82.2% | 11.8M+332.7% | -5.09M+96.8% | -158M-190.6% | |
| Interest paid | 145M+8.2% | 134M+2.9% | 130M+26.6% | 103M+29.0% | 79.5M+9.8% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.84B-13.8% | 3.29B+35.6% | 2.43B-17.6% | 2.94B-37.1% | 4.68B+13.6% | |
| P/E | 17.5×-44.7% | 31.6×+83.6% | 17.2×+54.1% | 11.2×-22.9% | 14.5×+25.7% | |
| P/S | 3.5×-11.6% | 4.0×+37.8% | 2.9×-19.4% | 3.6×-41.1% | 6.1×+9.0% | |
| P/B | 1.2×-14.4% | 1.4×+40.9% | 1.0×-15.8% | 1.2×-37.7% | 1.9×+7.1% | |
| P/FCF | — | 9.3×-24.3% | 12.3×-30.8% | 17.8×-58.4% | 42.8×+269.8% | |
| Earnings yield | 5.7%+80.9% | 3.2%-45.5% | 5.8%-35.1% | 9.0%+29.7% | 6.9%-20.5% | |
| FCF yield | — | 10.7%+32.1% | 8.1%+44.6% | 5.6%+140.2% | 2.3%-73.0% | |
| Dividend yield | 7.6%+18.3% | 6.5%-25.8% | 8.7%+21.8% | 7.1%+63.6% | 4.4%-9.8% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: HIW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HIW filings on SEC EDGAR → Not investment advice.