Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $703M | $720M | $736M | $737M | $768M | $829M | $834M | $826M | $806M |
| Revenue growth | — | — | 2.5% | 2.2% | 0.1% | 4.2% | 7.9% | 0.6% | -1.0% | -2.4% |
| Operating income | $435M | $466M | $478M | $487M | $505M | $532M | $569M | $565M | $554M | $545M |
| Operating margin | — | 66.3% | 66.3% | 66.2% | 68.5% | 69.2% | 68.7% | 67.8% | 67.0% | 67.6% |
| Net income | $541M | $192M | $178M | $142M | $358M | $323M | $164M | $151M | $104M | $163M |
| Net margin | — | 27.3% | 24.7% | 19.3% | 48.6% | 42.1% | 19.8% | 18.1% | 12.6% | 20.2% |
| EPS (diluted) | $5.30 | $1.78 | $1.64 | $1.30 | $3.32 | $2.98 | $1.49 | $1.39 | $0.94 | $1.45 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $306M | $353M | $359M | $366M | $358M | $415M | $422M | $387M | $404M | $359M |
| Dividends paid | $167M | $181M | $191M | $197M | $199M | $204M | $210M | $211M | $212M | $217M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $49.5M | $3.27M | $3.77M | $9.51M | $109M | $23.2M | $21.4M | $25.1M | $22.4M | $27.4M |
| Total assets | $4.56B | $4.62B | $4.68B | $5.14B | $5.21B | $5.70B | $6.06B | $6.00B | $6.03B | $6.27B |
| Total liabilities | $2.26B | $2.24B | $2.30B | $2.83B | $2.74B | $3.08B | $3.50B | $3.52B | $3.60B | $3.84B |
| Shareholders' equity | $2.14B | $2.22B | $2.25B | $2.15B | $2.34B | $2.48B | $2.48B | $2.43B | $2.36B | $2.38B |
| Retained earnings | -$749M | -$747M | -$769M | -$832M | -$686M | -$580M | -$633M | -$698M | -$811M | -$870M |
| Shares (wtd avg diluted) | 101M | 106M | 106M | 106M | 107M | 107M | 108M | 108M | 108M | 111M |
Every figure is extracted from HIGHWOODS PROPERTIES, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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