Stocktoria

HIGHWOODS PROPERTIES, INC. HIW

NYSE · reit · Real Estate Investment Trusts · website · IPO 1994-06-08 · LEI

HIGHWOODS PROPERTIES, INC. statistics & valuation

Market cap$3.3B
P / S4.1×
P / B1.4×
Dividend yield6.51%
Graham number -16.7%$26.52

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($26.52); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
66.30% 66.30% 66.20% 68.50% 69.20% 68.70% 67.80% 67.00% 67.60% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
101.7M 105.6M 106.3M 106.4M 106.7M 107.1M 107.6M 107.8M 108.3M 110.6M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$5.30 $1.78 $1.64 $1.30 $3.32 $2.98 $1.49 $1.39 $0.94 $1.45 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

HIGHWOODS PROPERTIES, INC. trades at about 21.9× earnings — near its 10-year norm (10-year range 9.7×–38.5×, median 20.4×).

9.7× 38.5×

Shaded band = 10-year range (9.7×–38.5×); dot = today's 21.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin67.6%67.0%67.8%68.7%69.2%68.5%66.2%66.3%66.3%—

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.