Empire State Realty OP, L.P. (ESBA) Financial Statements & Analysis

Empire State Realty OP, L.P. (ESBA) Income Statement

Empire State Realty OP, L.P. reported revenue of $768.27M in fiscal 2025 (fiscal year ended Dec 31, 2025), flat from $767.92M a year earlier. Net income was $47.60M, down 40.8% year over year, a net margin of 6.2%. Gross margin was 1.8% and operating margin 17.7%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $196.90M, up 3.0% from the same quarter a year earlier.

Empire State Realty OP, L.P. Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Empire State Realty OP, L.P. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	768.27	767.92	739.57	727.04	624.09	609.23	731.34	732.74	712.47
Cost of Revenue	754.54	354.16	339.02	321.35	683.10	688.33	333.99	319.47	305.60
Gross Profit	13.73	413.76	400.56	405.69	-59.00	-79.10	397.36	413.26	406.87
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	72.84	70.23	63.94	61.77	55.95	62.24	61.06	52.67	50.32
Operating Expenses	-121.92	255.05	253.85	278.66	-145.86	541.15	242.65	221.18	211.03
Operating Income	135.65	158.71	146.71	127.03	79.13	58.66	154.71	190.86	195.85
Other Income/Expense
Interest Income	8.75	21.30	15.14	4.95	0.70	2.64	11.26	10.66	2.94
Interest Expense	103.78	109.71	101.48	101.21	94.39	89.91	79.25	79.62	68.47
Other Income/Expense	-60.11	-75.66	-59.58	-62.27	-93.90	-88.52	-67.99	-68.96	-70.92
Income
Income Before Tax	75.54	83.05	87.12	64.76	-14.77	-29.86	86.72	121.90	124.93
Income Tax Expense	2.56	2.69	2.72	1.55	-1.73	-6.97	2.43	4.64	6.67
Net Income	47.60	80.36	84.34	63.46	-13.04	-22.89	84.29	117.25	118.25
Net Income - Continuous Operations	47.60	80.36	84.34	63.46	-13.04	-22.89	84.29	117.25	118.25
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	374.08	343.53	383.93	375.63	269.78	235.28	355.88	353.98	365.37
EBIT	179.32	192.76	188.61	127.03	79.62	64.87	-	-	-
Depreciation & Amortization	194.76	184.82	195.33	216.89	201.81	170.41	192.49	180.61	177.81
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-	-
Diluted EPS	-	-	-	-	-	-	-	-	-
Basic Shares Outstanding	168.54	264.79	264.88	269.34	277.42	283.83	297.80	297.26	296.46
Diluted Shares Outstanding	270.04	269.61	265.63	269.95	277.42	283.84	297.80	297.26	298.05

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Empire State Realty OP, L.P. Financial Statements

What was Empire State Realty OP, L.P.'s revenue in fiscal 2025?

Empire State Realty OP, L.P. reported revenue of $768.27M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was flat from $767.92M a year earlier.

Is Empire State Realty OP, L.P. profitable?

Yes. Empire State Realty OP, L.P. earned net income of $47.60M in fiscal 2025, a net margin of 6.2%. In fiscal 2024 it earned $80.36M.

What is Empire State Realty OP, L.P.'s operating margin?

Empire State Realty OP, L.P.'s operating income was $135.65M on revenue of $768.27M in fiscal 2025, an operating margin of 17.7%, compared with 20.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition