Easterly Government Properties, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Easterly Government Properties, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	105	131	161	222	245	275	294	287	302	336
Cost of revenue	21.1	24.9	30.9	48.3	48.4	56.7	66.8	72	70.2	77.5
Gross profit	83.5	106	130	173	197	218	227	215	232	259
Operating income	13.7	22.8
Net income to minority interests	1.53	0.94	0.96	1.02	1.57	3.9	4.09	2.26	1.03	0.55
Net income	3.96	4.45	5.7	7.21	12	30.1	31.5	18.8	19.6	13
EBITDA	59.6	77.6
EPS, basic	0.33	0.28	0.23	0.25	0.38	0.88	0.86	0.48	0.46	0.27
EPS, diluted	0.30	0.25	0.20	0.25	0.38	0.88	0.86	0.48	0.46	0.27
Shares, basic (weighted)	12.1	15.7	21.2	27.2	31	33.3	35.9	37.7	41.4	44.9
Shares, diluted (weighted)	12.8	16.5	21.7	27.4	31.2	33.5	36	37.8	41.5	45.1
Dividend per share	2.32	2.53	2.63	2.63	2.63	2.65	2.68	2.65	2.65	2.01

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	4.85	12.7	6.85	12	8.47	11.1	7.58	9.38	19.4	23.4
Other current assets					0.4	1.6	3.5	3	2.3
Lease right-of-use assets				0.8	0.4	1.5	3.5	3	2.3	3.4
Intangible assets	115	143	166	169	163	186	157	148	161	184
Total assets	1,047	1,425	1,862	2,235	2,458	2,826	2,829	2,880	3,223	3,380
Total liabilities	349	634	836	1,035	1,158	1,385	1,418	1,470	1,836	2,010
Total debt	293	576	766	902	978	1,211	1,251	1,295	1,599	1,666
Paid-in capital	597	741	1,017	1,257	1,425	1,605	1,623	1,783	1,874	1,958
Retained earnings	2.68	7.13	12.8	20	32	62	93.5	112	132	145
Other comprehensive income	3.04	3.4	2.41	-4.69	-11.4	-5.07	3.55	1.87	0.68	-4.58
Shareholders' equity	560	668	894	1,063	1,155	1,283	1,245	1,322	1,321	1,323
Total equity	698	791	1,025	1,200	1,300	1,442	1,411	1,410	1,387	1,370
Total liabilities and equity	1,047	1,425	1,862	2,235	2,458	2,826	2,829	2,880	3,223	3,380
Shares outstanding	14.6	17.7	24.1	29.6	32.5	35.7	35.9	101	43.2	46.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	5.5	5.39	6.66	8.22	13.5	34	35.6	21.1	20.6	13.6
Depreciation and amortization	45.9	54.9	66.4	92.4	93.8	91.3	98.3	91.3	96.3	114
Stock-based compensation	2.91	2.96	3.04	4.91	4.09	5.05	6.54	5.75	3.21	6.05
Change in receivables	-2.9	-3.52	-2.34	-4.13	0.84
Change in payables	4.36	2.52	6.99	12.1	7.73	13.6	-0.32	6.14	4.88	4.31
Cash from operations	47.4	49.2	62.8	142	145	118	126	114	163	259
Cash from investing	-170	-396	-467	-442	-290	-363	-69.1	-127	-410	-285
Stock issued	110	126	298	259	162	176	9.5	86.5	71.8	63.6
Dividends paid	-40.3	-49.2	-66	-81.9	-91.7	-100	-109	-112	-116	-94.6
Cash from financing	119	356	399	304	144	250	-59.7	17.2	253	31.9
Net change in cash	-3.42	9.71	-5.1	4.44	-0.88	5.47	-2.87	4.67	5.87	5.83
Interest paid	7.44	15.2	21.3	29.1	34.2	35.5	40.2	47.5	57.2	69.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $22.91 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	77.3%	Gross profit / revenue.
Net margin	2.9%	Net income / revenue.
Operating cash flow margin	75.3%	Cash from operations / revenue.
Return on equity (ROE)	0.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.3%	Net income / average total assets.
Stock-based pay / revenue	2.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	34.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-33.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-25.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	1.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-41.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-32.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-6.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	59.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	27.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	12.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	-24.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-9.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-5.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	8.6%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	7.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	7.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.30x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	50.0%	Total debt / total assets.
Liabilities / assets	60.2%	Total liabilities / total assets.
Net debt	$1.70B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	5.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.13B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.10x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.22	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.65	Revenue / diluted weighted shares.
Operating cash flow per share	$5.76	Cash from operations / diluted weighted shares.
Book value per share	$27.79	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$23.94	Tangible book value / shares outstanding.
Cash per share	$0.07	(Cash + short-term investments) / shares outstanding.
Payout ratio	848.5%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.08B	Share price x shares outstanding.
Enterprise value	$2.79B	Market cap + total debt - cash - short-term investments.
P/E	106x	Market cap / net income. Only when net income is positive.
P/S	3.04x	Market cap / revenue.
P/B	0.82x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.96x	Market cap / tangible book value, when positive.
P/OCF	4.03x	Market cap / cash from operations, when positive.
EV/Sales	7.81x	Enterprise value / revenue.
Earnings yield	0.9%	Net income / market cap (the inverse of P/E).
Dividend yield	8.0%	Dividends paid over the period / market cap.
Shareholder yield	8.0%	(Dividends paid + share buybacks) / market cap.

What was Easterly Government Properties, Inc.'s revenue in fiscal 2025?

Easterly Government Properties, Inc. reported revenue of $336.1M for fiscal 2025, 11.3% higher than the year before.

Was Easterly Government Properties, Inc. profitable in fiscal 2025?

Yes. Net income was $13.0M, a net margin of 3.9%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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