HIW - NYSE

Highwoods Properties, Inc.

HIW·NYSE

$26.96

+2.2%

Real EstateREIT - Office

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$2.97B

EPS1.4500

P/E Ratio18.59

Earnings Date07/28/2026

367.31M

Operating Cash Flow

-9%

3Y-13.0%

5Y+3.0%

10Y+20.0%

-448.77M

Investing Cash Flow

48%

3Y-27.0%

5Y-505.0%

10Y-320.0%

90.83M

Financing Cash Flow

-192%

3Y-52.0%

5Y-131.0%

10Y-120.0%

Highwoods Properties, Inc. Cash Conversion Engine

HIW · NYSE

FCF Components

Net Income74.00K

Depreciation & Amortization294.95M

Stock-Based Compensation8.21M

Change in Working Capital-24.30M

Others88.37M

Capital Expenditures-200.75M

Free Cash Flow166.56M

Cash Flow Quality Analysis

FCF Conversion Rate

225082.4%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

54.7%

Capital-intensive operations require significant reinvestment. Monitor whether CapEx is maintenance or growth-oriented.

FCF Growth Trend

-58.7%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$24.30M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Solid cash generation: Positive free cash flow with reasonable earnings quality provides financial flexibility for growth investments, debt reduction, or shareholder returns.

Highwoods Properties, Inc. Cash Flow Statement

HIW • NYSE

Highwoods Properties, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	74K	104.3M	148.7M	164M	323.3M	357.9M	141.7M	177.6M	191.7M	541.1M	101.3M	116M	131.1M	84.2M	48M	72.3M	61.7M	32M	90.7M	54.2M
Depreciation & Amortization	295M	299M	305.6M	287.6M	259.3M	239M	254M	228M	226.7M	218.1M	216M	196.5M	183.1M	158.7M	143.1M	136.2M	116.8M	112.3M	109.5M	103.8M
Change in Deferred Taxes	0.0	0.0	0.0	0.0	0.0	-207.2M	-34.2M	-31M	-45M	-425.6M	-9.7M	-37M	-54.8M	-25.2M	4.5M	-15.4M	7M	0.0	0.0	-1.4M
Stock-Based Compensation	8.2M	8M	0.0	7.6M	8.6M	6.2M	7.2M	7.5M	6.7M	6.3M	6.9M	6.9M	6.9M	7.6M	6.1M	6.6M	6.6M	0.0	0.0	3.7M
Other Non-Cash Items	88.4M	-11.6M	-40.8M	-20.8M	-170.1M	4.7M	4.4M	3.9M	3.4M	2.8M	3.4M	1.6M	-6.7M	2.4M	-476K	708K	392K	37.8M	-38.3M	-3M
Change in Working Capital	-24.3M	3.9M	-19.9M	-16.5M	-6.6M	-42.5M	-7.3M	-27.3M	-30.8M	-36.9M	-29M	-17M	-3.1M	-34.3M	-5.8M	-9.8M	-3.4M	-24.2M	-285K	-11.9M
Cash from Operating Activities	367.3M	403.6M	393.6M	421.8M	414.6M	358.2M	365.8M	358.6M	352.5M	305.8M	288.9M	266.9M	256.4M	193.4M	195.4M	190.5M	189.1M	157.8M	161.7M	145.5M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	-176.6M	-264K	(0.0)	-2.4M	-424.2M	-50.6M	-1.8M	-110.2M	-408.6M	-163.6M	-418.8M	-269.8M	-184.6M	-102.7M	-151.5M	-231.4M	-287.5M	-222M
Acquisitions, Net	(0.0)	-153.4M	-18.2M	-261.8M	-133.4M	-2.4M	-10M	-50.6M	-10.1M	(343K)	(27.1M)	-6M	-33.2M	(8.3M)	(20.7M)	(11.8M)	(89.5M)	(92M)	(0.0)	(0.0)
Purchase of Investments	(0.0)	(0.0)	-180.9M	-24K	-84K	-160.6M	-126.1M	-150.3M	-161M	-185.9M	-139.1M	(0.0)	(0.0)	(0.0)	-39.9M	-2.9M	-952K	-12.7M	(0.0)	(0.0)
Sale/Maturity of Investments	0.0	0.0	191.7M	288K	301K	484.6M	133.6M	90.1M	132.4M	686.5M	74.2M	0.0	0.0	0.0	4.8M	15M	4M	3.2M	2.9M	0.0
Other Investing Items	-448.8M	-149.1M	8.1M	-353M	-154.5M	-208.6M	-180.7M	-256.1M	-244.3M	313.8M	-272.6M	-158.6M	95.4M	22.7M	-16.5M	684K	-2.8M	14.6M	133.9M	286.8M
Cash from Investing Activities	-448.8M	-302.4M	-176M	-614.8M	-287.7M	(110.7M)	-607.4M	-306.7M	-256.2M	(203.9M)	-654.2M	-328.2M	-356.6M	-238.8M	-215.5M	-78.2M	-61.8M	-134.3M	-150.7M	(64.7M)
FINANCING ACTIVITIES
Net Issuance of Common Stock	59.5M	52.1M	1.3M	1.7M	22.2M	2.4M	298K	2M	72.3M	260.4M	127.6M	114.1M	313.5M	246.8M	23.3M	3M	150.9M	206.7M	-20.4M	16.3M
Net Issuance of Debt	262M	76.9M	17.6M	409.6M	-83.8M	-74.6M	460.1M	71.1M	68.4M	-545M	407.2M	113M	-70.8M	-50.7M	186.6M	12.2M	-131.1M	-47.6M	176.8M	-42.3M
Cash Paid for Dividends	-219.1M	-214.8M	-213.5M	-212.7M	-206.7M	-201.8M	-199.4M	-193.8M	-264.5M	-169.4M	-162.8M	-156.7M	-148.5M	-131.2M	-127.3M	-128.4M	-121.1M	-116.8M	-117.2M	-118.8M
Share Repurchases	-2.1M	-1.4M	-173K	-5.9M	-1.7M	-1.2M	-1.8M	-1.7M	-4M	-4.4M	-3.8M	-3.6M	-2.6M	-2.7M	(0.0)	(0.0)	(0.0)	-55.8M	-27.5M	-26.5M
Other Financing Items	-11.6M	-13.2M	-11.2M	-10.6M	-16.7M	-20.3M	-14.8M	-9.3M	-18.7M	-11.1M	-10.4M	-10.6M	2.3M	-17M	-13M	-8.8M	-16M	-9.4M	-1.4M	23K
Cash from Financing Activities	90.8M	-99M	-205.7M	187.9M	-284.9M	-294.3M	246.2M	-130.1M	-142.5M	-465.2M	361.5M	59.9M	96.6M	48M	17.1M	-121.9M	-117.4M	-12.9M	-24.5M	-194.8M
CASH FLOW SUMMARY
Effect of Foreign Exchange Rates	0.0	0.0	-6.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net Change in Cash	9.4M	2.1M	5.5M	-5.1M	-158M	174.5M	4.6M	-78.2M	-46.2M	44.5M	-3.8M	-1.4M	-3.6M	2.6M	-3M	-9.5M	9.9M	10.6M	-13.6M	15.5M
Cash at Beginning of Period	33.7M	31.6M	26.1M	31.2M	189.2M	14.7M	10.1M	88.3M	49.5M	5M	8.8M	10.2M	13.8M	11.2M	14.2M	23.7M	13.8M	3.1M	16.7M	1.2M
Cash at End of Period	43M	33.7M	31.6M	26.1M	31.2M	189.2M	14.7M	10.1M	3.3M	49.5M	5M	8.8M	10.2M	13.8M	11.2M	14.2M	23.7M	13.8M	3.1M	16.7M
Free Cash Flow	166.6M	403.6M	217M	421.5M	414.6M	355.8M	-58.4M	308M	350.7M	195.6M	-119.8M	103.3M	-162.4M	-76.4M	10.8M	87.8M	37.6M	-73.6M	-125.8M	-76.5M

SEC Filings

HIW - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 12, 2026	May 12, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	April 28, 2026	March 31, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 27, 2026	May 12, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 11, 2026	February 11, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 10, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2025 N/A	November 14, 2025	November 14, 2025	2025	View Filing
8-K 8-K 2025 N/A	November 05, 2025	November 04, 2025	2025	View Filing
10-Q 10-Q 2025 Q3 Q3	October 28, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	August 14, 2025	August 12, 2025	2025	View Filing
10-Q 10-Q 2025 Q2 Q2	July 29, 2025	June 30, 2025	2025	View Filing

Showing 1 to 10 of 360 filings

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