Empire State Realty Trust (ESRT) Financial Statements & Analysis

Empire State Realty Trust (ESRT) Income Statement

Empire State Realty Trust reported revenue of $767.81M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 0.6% from $763.15M a year earlier. Net income was $47.60M, down 7.8% year over year, a net margin of 6.2%. Gross margin was 52.5% and operating margin 17.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $196.90M, up 3.2% from the same quarter a year earlier.

Empire State Realty Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Empire State Realty Trust, Inc. 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	767.81	763.15	739.57	727.04	607.86	609.23	731.34	731.51	712.47
Cost of Revenue	365.02	354.16	339.02	321.35	279.49	291.11	333.99	319.47	305.60
Gross Profit	402.79	408.99	400.56	405.69	328.38	318.12	397.36	412.04	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	267.60	250.28	253.85	258.63	249.25	259.45	242.65	221.18	211.03
Operating Income	135.19	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	35.39	-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	51.64	49.04	36.44	-6.51	-12.52	51.19	66.54	63.58
Net Income - Continuous Operations	72.98	51.64	84.41	40.64	-6.51	-12.52	51.19	66.54	63.58
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	374.08	377.58	318.42	321.55	281.43	251.05	355.38	359.37	354.11
EBIT	179.32	158.71	146.71	127.03	79.62	-	-	-	-
Depreciation & Amortization	194.76	184.82	171.72	194.52	201.81	191.01	192.49	168.51	160.71
Earnings Per Share
Basic EPS	-	-	-	-	-	-	-	-	-
Diluted EPS	-	-	-	-	-	-	-	-	-
Basic Shares Outstanding	168.54	164.90	161.12	165.04	172.45	175.17	178.34	167.57	158.38
Diluted Shares Outstanding	270.04	269.02	265.63	269.95	274.98	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 Trust Financial Statements

What was Empire State Realty Trust's revenue in fiscal 2025?

Empire State Realty Trust reported revenue of $767.81M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 0.6% from $763.15M a year earlier.

Is Empire State Realty Trust profitable?

Yes. Empire State Realty Trust earned net income of $47.60M in fiscal 2025, a net margin of 6.2%. In fiscal 2024 it earned $51.64M.

What is Empire State Realty Trust's operating margin?

Empire State Realty Trust's operating income was $135.19M on revenue of $767.81M in fiscal 2025, an operating margin of 17.6%, compared with 20.8% 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