Empire State Realty Op, L.P. - Understand $esba stock

$ESBA Market Cap: $2.771 Billion

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Financial Snapshot

Revenue

$763.2M

TTM

Gross Margin

55.22%

TTM

Net Earnings

$76.35M

TTM

Current Assets

Current Liabilities

Current Ratio

Total Assets

$4.437B

Q3 2024

Total Liabilities

$2.680B

Q3 2024

Book Value

$1.757B

Q3 2024

Cash

$421.9M

Q3 2024

P/E

36.29

Nov 27, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$739.6M	$727.0M	$624.1M	$609.2M	$731.3M	$731.5M	$709.5M	$677.4M	$657.6M	$635.3M
YoY Change	1.72%	16.5%	2.44%	-16.7%	-0.02%	3.1%	4.75%	3.0%	3.51%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$739.6M	$727.0M	$624.1M	$609.2M	$731.3M	$731.5M	$709.5M	$677.4M	$657.6M	$635.3M
Cost Of Revenue	$339.0M	$321.4M	$279.5M	$291.1M	$334.0M	$319.5M
Gross Profit	$400.6M	$405.7M	$344.6M	$318.1M	$397.4M	$412.0M
Gross Profit Margin	54.16%	55.8%	55.22%	52.22%	54.33%	56.33%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Selling, General & Admin	$63.94M	$61.77M	$55.95M	$62.24M	$61.06M	$52.67M	$50.32M	$49.08M	$38.07M	$39.04M
YoY Change	3.52%	10.4%	-10.12%	1.93%	15.93%	4.69%	2.52%	28.9%	-2.47%
% of Gross Profit	15.96%	15.22%	16.23%	19.57%	15.37%	12.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$189.9M	$216.9M	$201.8M	$191.0M	$181.6M	$168.5M	$160.7M	$155.2M	$171.5M	$145.4M
YoY Change	-12.44%	7.48%	5.65%	5.19%	7.76%	4.85%	3.54%	-9.48%	17.91%
% of Gross Profit	47.41%	53.46%	58.56%	60.04%	45.7%	40.9%
Operating Expenses	$592.9M	$600.0M	$545.0M	$550.6M	$576.6M	$540.7M	$516.6M	$493.5M	$506.3M	$494.0M
YoY Change	-1.19%	10.1%	-1.02%	-4.52%	6.66%	4.65%	4.69%	-2.53%	2.48%
Operating Profit	$146.7M	$127.0M	$79.13M	$58.66M	$154.7M	$190.9M	$192.9M	$183.9M	$151.4M	$141.3M
YoY Change	15.49%	60.52%	34.9%	-62.08%	-18.94%	-1.06%	4.9%	21.49%	7.11%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Interest Expense	$101.5M	$101.2M	$94.39M	$89.91M	$79.25M	$79.62M	$68.47M	$70.60M	$65.74M	$66.46M
YoY Change	0.27%	7.22%	4.99%	13.45%	-0.47%	16.28%	-3.01%	7.38%	-1.07%
% of Operating Profit	69.18%	79.67%	119.29%	153.27%	51.22%	41.72%	35.5%	38.39%	43.43%	47.02%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Pretax Income	$87.12M	$64.76M	-$14.77M	-$29.86M	$86.72M	$121.9M	$124.9M	$113.4M	$83.88M	$74.87M
YoY Change	34.53%	-538.41%	-50.53%	-134.43%	-28.86%	-2.43%	10.17%	35.19%	12.04%
Income Tax	$2.715M	$1.546M	-$1.734M	-$6.971M	$2.429M	$4.642M	$6.673M	$6.146M	$3.949M	$4.655M
% Of Pretax Income	3.12%	2.39%			2.8%	3.81%	5.34%	5.42%	4.71%	6.22%
Net Earnings	$84.41M	$63.21M	-$13.04M	-$22.89M	$84.29M	$116.3M	$117.3M	$106.3M	$78.99M	$69.73M
YoY Change	33.53%	-584.87%	-43.04%	-127.16%	-27.53%	-0.85%	10.35%	34.59%	13.28%
Net Earnings / Revenue	11.41%	8.69%	-2.09%	-3.76%	11.53%	15.9%	16.53%	15.7%	12.01%	10.98%
Basic Earnings Per Share	$0.30	$0.22	-$0.06	-$0.10	$0.27	$0.39	$0.39	$0.38	$0.29	$0.27
Diluted Earnings Per Share	$0.30	$0.22	-$0.06	-$0.10	$0.27	$0.39	$0.39	$0.38	$0.29	$0.27

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018
Cash & Short-Term Investments	$346.6M	$264.4M	$423.7M	$526.7M	$234.0M	$205.0M
YoY Change	31.08%	-37.59%	-19.56%	125.14%	14.13%
Cash & Equivalents	$346.6M	$264.4M	$423.7M	$526.7M	$234.0M	$205.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$39.84M	$24.10M	$18.65M	$21.54M	$25.42M	$29.44M
Other Receivables	$255.6M	$240.2M	$224.9M	$222.5M	$221.0M	$200.9M
Total Short-Term Assets	$642.1M	$528.7M	$667.3M	$770.8M	$480.3M	$435.3M
YoY Change	21.44%	-20.76%	-13.43%	60.46%	10.34%
Property, Plant & Equipment	$2.434B	$2.443B	$2.457B	$2.221B	$2.276B	$2.137B
YoY Change	-0.38%	-0.57%	10.6%	-2.41%	6.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments						$400.0M
YoY Change
Other Assets	$331.0M	$371.5M	$329.9M	$322.3M	$331.3M	$371.4M
YoY Change	-10.9%	12.59%	2.38%	-2.71%	-10.81%
Total Long-Term Assets	$3.577B	$3.635B	$3.615B	$3.380B	$3.452B	$3.760B
YoY Change	-1.59%	0.54%	6.96%	-2.07%	-8.22%
Total Assets	$4.219B	$4.164B	$4.282B	$4.151B	$3.932B	$4.196B
YoY Change
Accounts Payable	$44.17M	$32.93M	$41.66M	$32.31M	$35.08M	$34.59M
YoY Change	34.14%	-20.96%	28.94%	-7.9%	1.42%
Accrued Expenses	$83.94M	$76.47M	$81.60M	$90.38M	$123.9M	$90.23M
YoY Change	9.77%	-6.28%	-9.71%	-27.07%	37.34%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$128.1M	$109.4M	$124.4M	$123.5M	$159.8M	$125.4M
YoY Change	17.1%	-12.05%	0.75%	-22.72%	27.36%
Long-Term Debt	$2.241B	$2.246B	$2.310B	$2.137B	$1.669B	$1.919B
YoY Change	-0.25%	-2.78%	8.13%	28.05%	-13.05%
Other Long-Term Liabilities	$119.6M	$125.0M	$163.4M	$159.3M	$155.6M	$160.3M
YoY Change	-4.27%	-23.5%	2.56%	2.38%	-2.95%
Total Long-Term Liabilities	$2.360B	$2.371B	$2.474B	$2.296B	$1.824B	$2.079B
YoY Change	-0.46%	-4.15%	7.74%	25.86%	-12.27%
Total Liabilities	$3.489B	$3.450B	$3.609B	$3.475B	$3.212B	$3.443B
YoY Change	1.13%	-4.41%	3.88%	8.16%	-6.7%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Basic Shares Outstanding	263.2M shares	268.3M shares	277.4M shares	283.8M shares	297.8M shares	297.3M shares	296.5M shares	276.8M shares	265.9M shares	254.5M shares
Diluted Shares Outstanding	265.6M shares	269.9M shares	277.4M shares	283.8M shares	297.8M shares	297.3M shares	298.0M shares	277.6M shares	265.9M shares	254.5M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $2.7708 Billion

About Empire State Realty OP, L.P.

Empire State Realty OP, L.P. provides property management services and invests in real estate. The Company offers asset management, property management, leasing and construction services.

Industry: Real Estate Investment Trusts Peers: Alexander & Baldwin, Inc. American Assets Trust, Inc. Global Net Lease, Inc. Broadstone Net Lease, Inc. W. P. Carey Inc. Empire State Realty Trust, Inc. ESSENTIAL PROPERTIES REALTY TRUST, INC. STORE CAPITAL LLC