Highwoods Properties (HIW) Financial Statements & Analysis

Highwoods Properties (HIW) Income Statement

Highwoods Properties reported revenue of $806.11M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 2.4% from $825.86M a year earlier. Net income was $159.61M, up 56.1% year over year, a net margin of 19.8%. Gross margin was 67.6% and operating margin 26.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $216.38M, up 7.9% from the same quarter a year earlier.

Highwoods Properties Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Highwoods Properties, 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	806.11	825.86	834.00	828.93	768.01	736.90	735.98	720.04	702.74
Cost of Revenue	261.37	272.17	268.78	259.81	236.44	231.83	248.51	242.42	236.89
Gross Profit	544.74	553.69	565.22	569.12	531.57	505.08	487.47	477.62	465.85
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Selling, General & Administrative	40.31	41.90	42.86	42.27	40.55	41.03	44.07	40.01	39.65
Operating Expenses	335.26	340.95	342.27	329.88	299.81	282.62	298.57	269.96	267.48
Operating Income	209.48	212.74	222.95	239.25	231.76	222.46	188.90	207.66	198.37
Other Income/Expense
Interest Income	2.37	0.00	0.00	0.00	1.95	0.00	0.00	0.00	0.00
Interest Expense	152.43	147.20	136.71	105.39	85.85	80.96	81.65	71.42	69.11
Other Income/Expense	105.61	38.71	-71.62	-75.29	91.55	135.46	-47.21	-30.03	-6.71
Income
Income Before Tax	162.65	104.25	151.33	163.96	323.31	357.91	141.68	177.63	191.66
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	83.98
Net Income	159.61	102.25	148.72	159.06	310.79	347.40	136.92	171.84	185.37
Net Income - Continuous Operations	162.65	104.25	148.72	159.06	313.28	347.40	136.92	171.84	185.37
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	610.04	550.50	587.45	556.95	451.00	680.46	477.84	407.59	419.50
EBIT	315.08	251.45	224.05	240.78	233.71	-	-	-	-
Depreciation & Amortization	294.95	299.05	299.41	287.61	217.29	241.59	254.50	515.96	509.05
Earnings Per Share
Basic EPS	1.00	1.00	1.00	1.00	3.00	3.00	1.00	2.00	2.00
Diluted EPS	1.00	1.00	1.00	1.00	3.00	3.00	1.00	2.00	2.00
Basic Shares Outstanding	108.45	106.17	105.53	105.12	104.23	103.88	103.69	103.44	102.68
Diluted Shares Outstanding	110.57	108.32	107.79	105.12	107.06	106.71	106.45	106.27	105.59

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

Frequently Asked Questions About Highwoods Properties Financial Statements

What was Highwoods Properties's revenue in fiscal 2025?

Highwoods Properties reported revenue of $806.11M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 2.4% from $825.86M a year earlier.

Is Highwoods Properties profitable?

Yes. Highwoods Properties earned net income of $159.61M in fiscal 2025, a net margin of 19.8%. In fiscal 2024 it earned $102.25M.

What is Highwoods Properties's operating margin?

Highwoods Properties's operating income was $209.48M on revenue of $806.11M in fiscal 2025, an operating margin of 26.0%, compared with 25.8% 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