Stocks · Real Estate · REIT - Diversified
Empire State Realty OP, L.P. ESBA
$3.85 -4.70% Close, Oct 2, 2026 · AMEX · Market cap $695.7M
Weak trendHigh risk
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.02, down 90.0% year over year.
- The shares trade at 181.6× trailing earnings, higher than 94% of the company's own readings over the past five years.
- Net debt is 6.6× EBITDA, a high level of leverage.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 35%
- EPS growth (TTM, YoY)Bottom 13%
- FCF growth (TTM, YoY)Bottom 28%
- Revenue growth, 3-year CAGRBottom 30%
- Revenue growth accelerationTop 49%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 17%
- Gross marginBottom 4%
- Operating marginBottom 35%
- Accruals (lower is better)Top 23%
- Net debt / EBITDA (lower is better)Bottom 40%
- Interest coverBottom 22%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 32%
- Free-cash-flow yieldTop 6%
- EBITDA / enterprise valueTop 9%
- Sales / enterprise valueTop 19%
- P/E vs own 5-year history (lower is better)Bottom 4%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 9%
- 6-month returnBottom 14%
- 1-year return vs S&P 500Bottom 8%
- Distance from 52-week highBottom 10%
- Trend checklist (0–4)Bottom 22%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 7%
- Maximum drawdown, 3 yearsBottom 12%
- Beta vs S&P 500 (lower is better)Bottom 13%
- Net debt / EBITDA (lower is better)Bottom 40%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 1.5% | 2.0% | ↑ |
| EPS growth (YoY) | -23.7% | -90.0% | ↓ |
| Gross margin | 48.3% | -24.0% | ↓ |
| Operating margin | 19.4% | 16.8% | ↓ |
| FCF margin | 42.8% | 27.2% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 2.0% | 1.5% | ↑ | Bottom 35% |
| EPS growth (TTM, YoY) | -90.0% | -23.7% | ↓ | Bottom 13% |
| Gross margin | -24.0% | 48.3% | ↓ | Bottom 4% |
| Operating margin | 16.8% | 19.4% | ↓ | Bottom 35% |
| Net margin | -0.9% | 7.9% | ↓ | — |
| Free-cash-flow margin | 27.2% | 42.8% | ↓ | — |
| Return on invested capital | 11.0% | — | Top 17% | |
| Revenue growth, 3-year CAGR | 1.9% | — | Bottom 30% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.5%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -3.8 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 6.57×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 0.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 7.33%
- Net buyback yield (TTM)
- 0.67%
- Shareholder yield
- 8.00%
- Share count change, 1 year
- -0.4%
- Share count change, 3-year CAGR
- +0.6%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Average 2-day reaction, last 8
- -1.0%
- Positive 20 days after report
- 2 of 8
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | — | +0.0% | -9.8% | -11.9% | — |
| May 7, 2026 | — | -0.5% | -4.7% | -7.0% | -13.4% |
| Feb 17, 2026 | — | -3.7% | -7.1% | -21.4% | -13.3% |
| Oct 6, 2025 | — | +1.7% | -6.0% | -3.5% | -12.7% |
| Aug 6, 2025 | — | +3.5% | +3.0% | +7.6% | +9.3% |
| May 5, 2025 | — | -7.6% | -5.2% | +1.5% | -4.6% |
| Feb 18, 2025 | — | +0.0% | -8.8% | -13.9% | -15.7% |
| Nov 8, 2024 | — | -1.6% | -2.2% | -0.3% | -11.7% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | -$0.15 | — | — | $196.9M |
| May 7, 2026 | $0.01 | — | — | $190.3M |
| Feb 17, 2026 | $0.12 | — | — | $199.2M |
| Oct 6, 2025 | $0.06 | — | — | $197.7M |
| Aug 6, 2025 | $0.04 | — | — | $191.3M |
| May 5, 2025 | $0.04 | — | — | $180.1M |
| Feb 18, 2025 | $0.07 | — | — | $197.6M |
| Nov 8, 2024 | $0.05 | — | — | $199.6M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 181.6× | 31.6× | 94th | Bottom 32% |
| EV / EBITDA | 8.7× | — | — | Top 9% |
| EV / Sales | 3.66× | — | — | Top 19% |
| Free-cash-flow yield | 30.66% | — | — | Top 6% |
| Earnings yield | 0.55% | — | — | Bottom 32% |
P/E over the past five years
Range 16.8× – 230.2× since Jun 30, 2022. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -48.0%
- Earnings per share growth (TTM)
- -90.0%
- Change in P/E multiple
- +570.1%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -10.8%
- 200-day average slope (20 days)
- -4.8%
- Distance from 50-day average
- -13.9%
- Distance from 200-day average
- -28.1%
- RSI (14)
- 35.3
- Relative volume
- 3.84×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 51.2%
- Volatility vs own 5-year history
- 55th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.97
- Correlation with S&P 500
- 0.41
- Current drawdown from 1-year high
- -51.5%
- Maximum drawdown, 3 years
- -66.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jun 9, 2021 | Oct 2, 2026 | -69.8% | 1335 days | Not yet recovered |
| Oct 8, 2020 | Oct 30, 2020 | -20.9% | 16 days | 6 days (Nov 9, 2020) |
| Dec 4, 2020 | Jan 5, 2021 | -11.0% | 20 days | 25 days (Feb 10, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $695.7M
- P/E (TTM)
- 181.6
- EPS, diluted (TTM)
- $0.02
- Revenue (TTM)
- $784.2M
- Dividend yield
- 3.64%
- 52-week range
- $3.79 – $7.93
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $624.1M | $727.0M | $739.6M | $767.9M | $768.3M |
| Gross profit | -$59.0M | $405.7M | $400.6M | $413.8M | $13.7M |
| Operating income | $79.1M | $127.0M | $146.7M | $158.7M | $135.6M |
| Net income | -$13.0M | $63.5M | $84.3M | $80.4M | $47.6M |
| EPS (diluted) | -$0.06 | $0.22 | $0.30 | $0.28 | $0.18 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $199.6M | $197.6M | $180.1M | $191.3M | $197.7M | $199.2M | $190.3M | $196.9M |
| Net income | $14.6M | $18.8M | $15.8M | $11.4M | $9.0M | $20.7M | $3.0M | -$39.6M |
| EPS (diluted) | $0.05 | $0.07 | $0.05 | $0.04 | $0.05 | $0.12 | $0.00 | -$0.15 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $212.5M | $211.2M | $232.5M | $260.9M | $249.1M |
| Capital expenditure | -$95.0M | -$126.3M | -$12,000 | -$172.9M | -$198.5M |
| Free cash flow | $117.4M | $84.9M | $232.5M | $88.0M | $50.6M |
| Dividends paid | -$32.8M | -$42.8M | -$41.3M | -$38.3M | -$39.0M |
| Net share buybacks | -$46.7M | -$90.2M | -$13.1M | $0 | -$8.1M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $85.6M
- Total assets
- $4.27B
- Total liabilities
- $2.48B
- Total debt
- $2.26B
- Net debt
- $2.18B
- Shareholders’ equity
- $1.79B
As of Jun 30, 2026 (filed Aug 6, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Sep 15, 2026 | $0.04 | Sep 30, 2026 |
| Jun 15, 2026 | $0.04 | Jun 30, 2026 |
| Mar 13, 2026 | $0.04 | Mar 31, 2026 |
| Dec 15, 2025 | $0.04 | Dec 31, 2025 |
| Sep 15, 2025 | $0.04 | Sep 30, 2025 |
| Jun 13, 2025 | $0.04 | Jun 30, 2025 |
| Mar 14, 2025 | $0.04 | Mar 31, 2025 |
| Dec 16, 2024 | $0.04 | Dec 31, 2024 |
Short interest
- Shares sold short
- 1,223
- Days to cover
- 1.00
- Change vs previous report
- -34.2%
FINRA short interest, settlement date Sep 15, 2026.