Piedmont Realty Trust, Inc.
PDM NYSE Opeators Of Nonresidential Buildings Financials FY2016–FY2025
Last close · Oct 23, 2026
$9.68
0.5%
Revenue
Total sales reported in the income statement.
$565M
0.9%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$83.6M
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.2B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.69 EPS (TTM)
What Piedmont Realty Trust, Inc. does
No business description yet.
- Legal name
- Piedmont Realty Trust, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 17, 2026
- Accession · CIK
- 0001042776-26-000012
0001042776
Revenue and margins
Piedmont Realty Trust, Inc. had $565M of revenue in fiscal 2025, down 0.9% on the year before.
FY16
Revenue $556M
FY17
Revenue $574M
FY18
Revenue $526M
FY19
Revenue $533M
FY20
Revenue $535M
FY21
Revenue $529M
FY22
Revenue $564M
FY23
Revenue $578M
FY24
Revenue $570M
FY25
Revenue $565M
Q2 '23
Revenue $143M
Q3 '23
Revenue $147M
Q4 '23
Revenue $145M
Q1 '24
Revenue $145M
Q2 '24
Revenue $143M
Q3 '24
Revenue $139M
Q4 '24
Revenue $143M
Q1 '25
Revenue $143M
Q2 '25
Revenue $140M
Q3 '25
Revenue $139M
Q4 '25
Revenue $143M
Q1 '26
Revenue $143M
FY16
Gross —
Operating 12.7%
Net 17.9%
FCF —
FY17
Gross —
Operating 14.2%
Net 23.3%
FCF —
FY18
Gross —
Operating 22.0%
Net 24.8%
FCF —
FY19
Gross —
Operating —
Net 43.0%
FCF —
FY20
Gross —
Operating —
Net 43.5%
FCF —
FY21
Gross —
Operating —
Net −0.2%
FCF —
FY22
Gross —
Operating —
Net 26.0%
FCF —
FY23
Gross —
Operating —
Net −8.4%
FCF —
FY24
Gross —
Operating —
Net −13.9%
FCF —
FY25
Gross —
Operating —
Net −14.8%
FCF —
Gross
Operating
Net
FCF
Q2 '23
Gross —
Operating —
Net −1.4%
FCF —
Q3 '23
Gross —
Operating —
Net −11.6%
FCF —
Q4 '23
Gross —
Operating —
Net −19.3%
FCF —
Q1 '24
Gross —
Operating —
Net −19.2%
FCF —
Q2 '24
Gross —
Operating —
Net −6.8%
FCF —
Q3 '24
Gross —
Operating —
Net −8.3%
FCF —
Q4 '24
Gross —
Operating —
Net −20.9%
FCF —
Q1 '25
Gross —
Operating —
Net −7.1%
FCF —
Q2 '25
Gross —
Operating —
Net −12.0%
FCF —
Q3 '25
Gross —
Operating —
Net −9.7%
FCF —
Q4 '25
Gross —
Operating —
Net −30.3%
FCF —
Q1 '26
Gross —
Operating —
Net −9.0%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income $99.7M
FY17
Net income $134M
FY18
Net income $130M
FY19
Net income $229M
FY20
Net income $233M
FY21
Net income −$1.2M
FY22
Net income $147M
FY23
Net income −$48.4M
FY24
Net income −$79.1M
FY25
Net income −$83.6M
Q2 '23
Net income −$2.0M
Q3 '23
Net income −$17.0M
Q4 '23
Net income −$28.0M
Q1 '24
Net income −$27.8M
Q2 '24
Net income −$9.8M
Q3 '24
Net income −$11.5M
Q4 '24
Net income −$30.0M
Q1 '25
Net income −$10.1M
Q2 '25
Net income −$16.8M
Q3 '25
Net income −$13.5M
Q4 '25
Net income −$43.2M
Q1 '26
Net income −$12.9M
FY16
Diluted EPS $0.69
FY17
Diluted EPS $0.92
FY18
Diluted EPS $1.00
FY19
Diluted EPS $1.82
FY20
Diluted EPS $1.85
FY21
Diluted EPS −$0.01
FY22
Diluted EPS $1.19
FY23
Diluted EPS −$0.39
FY24
Diluted EPS −$0.64
FY25
Diluted EPS −$0.67
Q2 '23
Diluted EPS −$0.02
Q3 '23
Diluted EPS −$0.14
Q4 '23
Diluted EPS −$0.22
Q1 '24
Diluted EPS −$0.22
Q2 '24
Diluted EPS −$0.08
Q3 '24
Diluted EPS −$0.09
Q4 '24
Diluted EPS −$0.25
Q1 '25
Diluted EPS −$0.08
Q2 '25
Diluted EPS −$0.14
Q3 '25
Diluted EPS −$0.11
Q4 '25
Diluted EPS −$0.34
Q1 '26
Diluted EPS −$0.10
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 1.4%
Return on equity 4.8%
Return on assets 2.3%
FY17
Return on capital 1.7%
Return on equity 6.5%
Return on assets 3.2%
FY18
Return on capital 2.7%
Return on equity 7.1%
Return on assets 3.4%
FY19
Return on capital —
Return on equity 13.0%
Return on assets 6.4%
FY20
Return on capital —
Return on equity 12.5%
Return on assets 6.4%
FY21
Return on capital —
Return on equity −0.1%
Return on assets −0.0%
FY22
Return on capital —
Return on equity 8.1%
Return on assets 3.7%
FY23
Return on capital —
Return on equity −2.7%
Return on assets −1.2%
FY24
Return on capital —
Return on equity −4.8%
Return on assets −1.9%
FY25
Return on capital —
Return on equity −5.4%
Return on assets −2.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY16
Free cash flow —
FY17
Free cash flow —
FY18
Free cash flow —
FY19
Free cash flow —
FY20
Free cash flow —
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY16
Cash from operations $232M
Capital spending —
FY17
Cash from operations $243M
Capital spending —
FY18
Cash from operations $203M
Capital spending —
FY19
Cash from operations $208M
Capital spending —
FY20
Cash from operations $193M
Capital spending —
FY21
Cash from operations $242M
Capital spending —
FY22
Cash from operations $215M
Capital spending —
FY23
Cash from operations $210M
Capital spending —
FY24
Cash from operations $198M
Capital spending —
FY25
Cash from operations $141M
Capital spending —
Cash from operations
Capital spending
Q2 '23
Cash from operations $54.8M
Capital spending —
Q3 '23
Cash from operations $65.3M
Capital spending —
Q4 '23
Cash from operations $49.6M
Capital spending —
Q1 '24
Cash from operations $23.4M
Capital spending —
Q2 '24
Cash from operations $66.8M
Capital spending —
Q3 '24
Cash from operations $42.9M
Capital spending —
Q4 '24
Cash from operations $65.0M
Capital spending —
Q1 '25
Cash from operations $3.7M
Capital spending —
Q2 '25
Cash from operations $50.1M
Capital spending —
Q3 '25
Cash from operations $35.8M
Capital spending —
Q4 '25
Cash from operations $50.9M
Capital spending —
Q1 '26
Cash from operations $28.1M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Piedmont Realty Trust, Inc. returned $30.9M to shareholders in fiscal 2025. The diluted share count rose 0.4%.
FY16
Dividends —
Buybacks $7.9M
FY17
Dividends —
Buybacks $60.5M
FY18
Dividends —
Buybacks $299M
FY19
Dividends $106M
Buybacks $16.9M
FY20
Dividends $106M
Buybacks $30.0M
FY21
Dividends $104M
Buybacks $19.5M
FY22
Dividends $104M
Buybacks $0.0M
FY23
Dividends $93.1M
Buybacks $0.0M
FY24
Dividends $61.9M
Buybacks —
FY25
Dividends $30.9M
Buybacks —
Dividends
Buybacks
Q2 '23
Dividends $26.0M
Buybacks —
Q3 '23
Dividends $15.5M
Buybacks —
Q4 '23
Dividends $0.3M
Buybacks —
Q1 '24
Dividends $30.6M
Buybacks —
Q2 '24
Dividends $15.5M
Buybacks —
Q3 '24
Dividends $15.5M
Buybacks —
Q4 '24
Dividends $0.2M
Buybacks —
Q1 '25
Dividends $30.8M
Buybacks —
Q2 '25
Dividends $0.0M
Buybacks —
Q3 '25
Dividends $0.0M
Buybacks —
Q4 '25
Dividends $0.0M
Buybacks —
Q1 '26
Dividends $0.1M
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.15B
FY17
Diluted shares 0.15B
FY18
Diluted shares 0.13B
FY19
Diluted shares 0.13B
FY20
Diluted shares 0.13B
FY21
Diluted shares 0.12B
FY22
Diluted shares 0.12B
FY23
Diluted shares 0.12B
FY24
Diluted shares 0.12B
FY25
Diluted shares 0.12B
Balance sheet
Cash, debt and the ratios that show how comfortably Piedmont Realty Trust, Inc. can carry it.
FY16
Cash $7.0M
Debt $2.0B
FY17
Cash $7.4M
Debt $1.7B
FY18
Cash $4.6M
Debt $1.7B
FY19
Cash $13.5M
Debt $1.5B
FY20
Cash $7.3M
Debt $1.6B
FY21
Cash $7.4M
Debt $1.9B
FY22
Cash $16.5M
Debt $2.0B
FY23
Cash $0.8M
Debt $2.1B
FY24
Cash $110M
Debt $2.2B
FY25
Cash $0.7M
Debt $2.2B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $7.4M | $16.5M | $0.8M | $110M | $0.7M |
| Debt incl. finance leases | $1.9B | $2.0B | $2.1B | $2.2B | $2.2B |
| Debt / equity | 1.1x | 1.1x | 1.2x | 1.4x | 1.5x |
| Total assets | $3.9B | $4.1B | $4.1B | $4.1B | $4.0B |
| Total liabilities | $2.1B | $2.2B | $2.3B | $2.5B | $2.5B |
| Shareholders' equity | $1.8B | $1.8B | $1.7B | $1.6B | $1.5B |
| Net debt (− = net cash) | $1.9B | $2.0B | $2.1B | $2.1B | $2.2B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Current ratio rose | — | — | — | — | — | — | — | — | — | — |
| Share count didn't rise | — | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ | ✓ |
| F-score | — / 3 | 7 / 7 | 6 / 7 | 6 / 7 | 3 / 7 | 3 / 7 | 6 / 7 | 3 / 7 | 2 / 7 | 3 / 7 |
| Accruals ratio | −3.0% | −2.6% | −1.9% | 0.6% | 1.1% | −6.3% | −1.7% | −6.3% | −6.8% | −5.5% |
| Altman Z'' | — | — | — | — | — | — | — | — | — | — |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $556M | $574M | $526M | $533M | $535M | $529M | $564M | $578M | $570M | $565M |
| Operating income | $70.8M | $81.3M | $116M | — | — | — | — | — | — | — |
| Interest expense | $64.9M | $68.1M | $61.0M | $61.6M | $55.0M | $51.3M | $65.7M | $101M | $123M | $128M |
| Income tax | $0.4M | $0.0M | −$0.1M | $0.2M | $0.0M | −$0.4M | −$0.0M | $0.0M | −$0.0M | −$0.0M |
| Net income | $99.7M | $134M | $130M | $229M | $233M | −$1.2M | $147M | −$48.4M | −$79.1M | −$83.6M |
| Diluted EPS | $0.69 | $0.92 | $1.00 | $1.82 | $1.85 | −$0.01 | $1.19 | −$0.39 | −$0.64 | −$0.67 |
| Diluted shares | 0.15B | 0.15B | 0.13B | 0.13B | 0.13B | 0.12B | 0.12B | 0.12B | 0.12B | 0.12B |
| Cash flow | ||||||||||
| Cash from operations | $232M | $243M | $203M | $208M | $193M | $242M | $215M | $210M | $198M | $141M |
| Depreciation and amortization | $155M | $146M | $128M | $133M | $143M | $149M | $166M | $179M | $178M | $181M |
| Stock-based compensation | $7.9M | $9.2M | $9.7M | $15.4M | $9.7M | $11.0M | $9.0M | $8.1M | $9.6M | $9.7M |
| Share buybacks | $7.9M | $60.5M | $299M | $16.9M | $30.0M | $19.5M | $0.0M | $0.0M | — | — |
| Dividends paid | — | — | — | $106M | $106M | $104M | $104M | $93.1M | $61.9M | $30.9M |
| Dividends and buybacks | $7.9M | $60.5M | $299M | $123M | $136M | $123M | $104M | $93.1M | $61.9M | $30.9M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $7.0M | $7.4M | $4.6M | $13.5M | $7.3M | $7.4M | $16.5M | $0.8M | $110M | $0.7M |
| Total debt | $2.0B | $1.7B | $1.7B | $1.5B | $1.6B | $1.9B | $2.0B | $2.1B | $2.2B | $2.2B |
| Goodwill | $98.9M | $98.9M | $98.9M | $98.9M | $98.9M | $98.9M | $82.9M | $53.5M | $53.5M | $53.5M |
| Intangible assets | $99.7M | $77.8M | $77.7M | $74.4M | $90.6M | $94.4M | $114M | $82.6M | $60.5M | $44.4M |
| Total assets | $4.4B | $4.0B | $3.6B | $3.5B | $3.7B | $3.9B | $4.1B | $4.1B | $4.1B | $4.0B |
| Total liabilities | $2.3B | $2.0B | $1.9B | $1.7B | $1.8B | $2.1B | $2.2B | $2.3B | $2.5B | $2.5B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $2.1B | $2.0B | $1.7B | $1.8B | $1.9B | $1.8B | $1.8B | $1.7B | $1.6B | $1.5B |
| Margins | ||||||||||
| Operating margin | 12.7% | 14.2% | 22.0% | — | — | — | — | — | — | — |
| EBITDA margin | 40.7% | 39.6% | 46.4% | — | — | — | — | — | — | — |
| Net margin | 17.9% | 23.3% | 24.8% | 43.0% | 43.5% | −0.2% | 26.0% | −8.4% | −13.9% | −14.8% |
| Returns | ||||||||||
| Return on capital | 1.4% | 1.7% | 2.7% | — | — | — | — | — | — | — |
| Return on equity | 4.8% | 6.5% | 7.1% | 13.0% | 12.5% | −0.1% | 8.1% | −2.7% | −4.8% | −5.4% |
| Return on assets | 2.3% | 3.2% | 3.4% | 6.4% | 6.4% | −0.0% | 3.7% | −1.2% | −1.9% | −2.1% |
| Return on tangible equity | 5.3% | 7.4% | 8.5% | 13.9% | 13.6% | −0.1% | 8.9% | −3.1% | −5.4% | −6.0% |
| Growth | ||||||||||
| Revenue growth | — | 3.3% | −8.4% | 1.4% | 0.3% | −1.2% | 6.6% | 2.5% | −1.3% | −0.9% |
| Net income growth | — | 33.9% | −2.4% | 76.0% | 1.5% | −100.5% | — | −133.0% | — | — |
| EPS growth | — | 33.3% | 8.7% | 82.0% | 1.6% | −100.5% | — | −132.8% | — | — |
| Share count change | — | −0.2% | −10.1% | −3.4% | −0.1% | −1.7% | −0.4% | 0.1% | 0.2% | 0.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | 8.9x | 7.6x | 6.9x | — | — | — | — | — | — | — |
| Debt / equity | 1.0x | 0.9x | 1.0x | 0.8x | 0.9x | 1.1x | 1.1x | 1.2x | 1.4x | 1.5x |
| Interest coverage | 1.1x | 1.2x | 1.9x | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.4% | 1.6% | 1.9% | 2.9% | 1.8% | 2.1% | 1.6% | 1.4% | 1.7% | 1.7% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 7.0 | 6.0 | 6.0 | 3.0 | 3.0 | 6.0 | 3.0 | 2.0 | 3.0 |
| Accruals ratio | −3.0% | −2.6% | −1.9% | 0.6% | 1.1% | −6.3% | −1.7% | −6.3% | −6.8% | −5.5% |
Source: SEC EDGAR XBRL filings (CIK 0001042776). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.