Easterly Government Properties, Inc. (DEA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.06	$0.06	0.0%	—	$92.4M	—
Q4 25	$0.11	$0.1	-9.1%	—	$87M	—
Q3 25	$0.1	$0.03	-70.0%	—	$86.2M	—
Q2 25	$0.14	$0.09	-35.7%	—	$84.2M	—
Q1 25	$0.13	$0.07	-46.2%	—	$78.7M	—
Q4 24	$0.13	$0.13	0.0%	—	$78.3M	—
Q3 24	$0.13	$0.13	0.0%	—	$74.8M	—
Q2 24	$0.1	$0.1	0.0%	—	$76.2M	—
Q1 24	$0.14	$0.1	-28.6%	—	$72.8M	—
Q4 23	$0.16	$0.1	-37.5%	—	$72.6M	—
Q3 23	$0.18	$0.15	-16.7%	—	$72M	—
Q2 23	$0.15	$0.13	-13.3%	—	$71.4M	—
Q4 22	$0.14	$0.45	+221.4%	—	$73.5M	—
Q3 22	$0.18	$0.03	-83.3%	—	$75M	—
Q2 22	$0.23	$0.2	-13.0%	—	$72.8M	—
Q1 22	$0.26	$0.2	-23.1%	—	$72.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.27	—	—	$336.1M	—
FY24	—	$0.45	—	—	$302.1M	—
FY23	—	$0.19	—	—	$287.2M	—
FY22	—	$0.34	—	—	$293.6M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$104.6M	$130.7M	$160.6M	$221.7M	$245.1M	$274.9M	$293.6M	$287.2M	$302.1M	$336.1M
YoY change	+46.6%	+24.9%	+22.9%	+38.1%	+10.5%	+12.2%	+6.82%	-2.17%	+5.16%	+11.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	104.6M	130.7M	160.6M	221.7M	245.1M	274.9M	293.6M	287.2M	302.1M	336.1M
Cost of revenue	31M	38.6M	48.2M	71.9M	75.6M	87.1M	97.7M	102.4M	101.1M	111.4M
Gross profit	73.6M	92M	112.4M	149.8M	169.5M	187.7M	195.9M	184.8M	201M	224.7M
Gross margin	70.4%	70.4%	70%	67.6%	69.2%	68.3%	66.7%	64.3%	66.5%	66.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	12.3M	12.9M	14.8M	20.2M	20.6M	23.5M	24.8M	27.1M	24.4M	26M
Operating expenses	12.3M	12.9M	14.8M	20.2M	20.6M	23.5M	24.8M	27.1M	24.4M	26M
Operating income	15.5M	24.3M	31.1M	37.2M	55.1M	73M	72.9M	66.4M	78.7M	85.2M
Operating margin	14.8%	18.6%	19.4%	16.8%	22.5%	26.5%	24.8%	23.1%	26%	25.3%
Non-operating income, net	-1.8M	-1.8M	-1.6M	4.5M	-6.1M	-361K	10.1M	3.8M	4.3M	2.8M
Pretax income	5.5M	5.4M	6.7M	8.2M	13.5M	34M	35.6M	21.1M	20.6M	13.6M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	5.5M	5.4M	6.7M	8.2M	13.5M	34M	35.6M	21.1M	20.6M	13.6M
Net margin	5.25%	4.12%	4.15%	3.71%	5.52%	12.4%	12.1%	7.33%	6.81%	4.03%
EBITDA	61.4M	79.1M	97.5M	129.6M	148.9M	164.5M	174.5M	163.2M	181.1M	205.9M
EPS	0.11	0.11	0.09	0.1	0.15	0.35	0.34	0.19	0.45	0.27
Diluted EPS	0.1	0.1	0.08	0.1	0.15	0.35	0.34	0.19	0.45	0.27

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	72M	72.6M	72.8M	76.2M	74.8M	78.3M	78.7M	84.2M	86.2M	87M	91.5M	92.4M
Cost of revenue	26.6M	25.3M	24.8M	26M	24.7M	25.6M	25.8M	27.7M	29.5M	28.4M	29.1M	29.1M
Gross profit	45.5M	47.4M	48M	50.3M	50.1M	52.7M	52.9M	56.5M	56.6M	58.6M	62.5M	63.3M
Gross margin	63.1%	65.2%	65.9%	65.9%	67%	67.3%	67.3%	67.1%	65.7%	67.3%	68.2%	68.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	6.1M	6.7M	6.5M	7.1M	4.7M	6.4M	6.2M	6.8M	5.8M	7.2M	8.5M	9M
Operating expenses	6.1M	6.7M	6.5M	7.1M	4.7M	6.4M	6.2M	6.8M	5.8M	7.2M	8.5M	9M
Operating income	17.1M	17.3M	17.7M	19M	20.3M	21.5M	20.1M	21.7M	21.6M	21.7M	20.6M	22.5M
Operating margin	23.7%	23.9%	24.3%	25%	27.2%	27.5%	25.6%	25.8%	25%	25%	22.5%	24.4%
Non-operating income, net	1M	897K	996K	969K	975K	1.4M	1.5M	1.5M	-1.3M	1.1M	1M	1M
Pretax income	6.1M	4.8M	4.9M	4.8M	5.1M	5.7M	3.3M	4.3M	1.2M	4.8M	1.4M	3.2M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	6.1M	4.8M	4.9M	4.8M	5.1M	5.7M	3.3M	4.3M	1.2M	4.8M	1.4M	3.2M
Net margin	8.44%	6.59%	6.71%	6.36%	6.84%	7.32%	4.17%	5.05%	1.45%	5.48%	1.54%	3.42%
EBITDA	40.7M	42M	42.9M	44.5M	45.7M	47.9M	48.8M	52.1M	52.1M	52.9M	55.5M	56.3M
EPS	0.06	0.04	0.04	0.1	0.13	0.13	0.07	0.09	0.02	0.1	0.02	0.06
Diluted EPS	0.06	0.04	0.04	0.1	0.13	0.13	0.07	0.09	0.02	0.1	0.02	0.06

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	4.8B	3.2B	3.2B	—	951.9M	1.1B
Enterprise value	—	—	—	—	—	6B	4.5B	4.5B	—	2.6B	2.8B
Shares outstanding	30.6M	39.6M	53.5M	68.8M	78.2M	84M	90.6M	94.3M	41.4M	44.9M	44.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	141.8	90.9	150.4	—	70.2	120.6
P/S	—	—	—	—	—	17.5	11	11	—	2.83	3.09
P/B	—	—	—	—	—	3.34	2.29	2.25	—	0.7	0.82
EV/EBITDA	—	—	—	—	—	36.6	25.7	27.3	—	12.6	13.3
EV/Sales	—	—	—	—	—	21.9	15.2	15.5	—	7.72	7.8
Earnings yield	—	—	—	—	—	0.71%	1.1%	0.66%	—	1.42%	0.83%
FCF yield	—	—	—	—	—	2.46%	3.9%	3.61%	—	27.2%	11.4%
PEG	—	—	—	—	—	—	—	—	—	—	-3.62

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	70.4%	70.4%	70%	67.6%	69.2%	68.3%	66.7%	64.3%	66.5%	66.9%	68.5%
Operating margin	14.8%	18.6%	19.4%	16.8%	22.5%	26.5%	24.8%	23.1%	26%	25.3%	25.1%
Net margin	5.25%	4.12%	4.15%	3.71%	5.52%	12.4%	12.1%	7.33%	6.81%	4.03%	2.81%
ROE	0.79%	0.68%	0.65%	0.69%	1.04%	2.36%	2.52%	1.49%	1.48%	0.99%	0.77%
ROA	0.53%	0.38%	0.36%	0.37%	0.55%	1.2%	1.26%	0.73%	0.64%	0.4%	1.68%
Return on tangible assets	0.67%	0.47%	0.44%	0.43%	0.63%	1.38%	1.41%	0.82%	0.71%	0.45%	0.35%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.1	0.33	0.3	0.59	0.27	0.49	0.35	0.36	0.27	0.23	0.6
Quick ratio	0.1	0.33	0.3	0.59	0.27	0.49	0.35	0.36	0.27	0.23	0.34
Debt / equity	0.42	0.73	0.75	0.75	0.75	0.84	0.89	0.92	1.15	1.22	1.26
Debt / assets	0.28	0.4	0.41	0.4	0.4	0.43	0.44	0.45	0.5	0.49	0.5
Net debt / EBITDA	4.7	7.12	7.79	6.87	6.51	7.3	7.13	7.88	8.72	7.98	7.86
Interest coverage	1.67	1.32	1.29	1.25	1.38	1.88	1.75	1.43	1.33	1.18	1.14

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.41	3.3	3	3.22	3.13	3.27	3.24	3.05	7.3	7.48	7.9
EPS (basic)	0.11	0.11	0.09	0.1	0.15	0.35	0.34	0.19	0.45	0.27	0.27
EPS (diluted)	0.1	0.1	0.08	0.1	0.15	0.35	0.34	0.19	0.45	0.27	0.19
Book value per share	22.8	20	19.2	17.4	16.6	17.2	15.6	15	33.5	30.5	27.8
FCF per share	1.55	1.24	1.17	2.07	1.86	1.41	1.39	1.21	3.93	5.77	5.76
Cash per share	0.16	0.32	0.13	0.17	0.11	0.13	0.08	0.1	0.47	0.52	0.09

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	733%	912.6%	990.5%	995.8%	678.2%	294.5%	307%	533.6%	563.3%	697.7%	947.4%
Dividend yield	—	—	—	—	—	2.08%	3.38%	3.55%	—	9.94%	7.91%

Yield

7.91%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.45

ex-dividend Aug 10, 2026

Payout ratio

947%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.45
May 7, 2026	$0.45
Mar 5, 2026	$0.45
Nov 7, 2025	$0.45
Aug 13, 2025	$0.45
May 5, 2025	$0.45

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$72M	$72.6M	$72.8M	$76.2M	$74.8M	$78.3M	$78.7M	$84.2M	$86.2M	$87M	$91.5M	$92.4M
YoY change	-4.03%	-1.21%	+2.22%	+6.79%	+3.84%	+7.75%	+8.07%	+10.5%	+15.2%	+11.2%	+16.4%	+9.71%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.8M	12.7M	6.9M	12M	8.5M	11.1M	7.6M	9.4M	19.4M	23.4M
Receivables	14.4M	22.1M	32.8M	43.6M	45.1M	58.7M	58.8M	66.3M	71.2M	51.5M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	22.6M	39M	51M	61M	59.7M	78.9M	76.1M	88.2M	133.1M	119.4M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	229.7M	286.1M	331.3M	337.3M	326.8M	372.6M	314.6M	296.9M	322.9M	367.8M
Total assets	1B	1.4B	1.9B	2.2B	2.5B	2.8B	2.8B	2.9B	3.2B	3.4B
Accounts payable	13.8M	19.8M	34.2M	47.8M	48.5M	60.9M	67.3M	80.2M	101.3M	109.7M
Short-term debt	212.2M	99.8M	134.8M	—	79.3M	14.5M	65.5M	79M	274.6M	199.1M
Total current liabilities	226M	119.5M	172.1M	102.5M	220.4M	162.5M	216.1M	241.9M	496.8M	527.9M
Long-term debt	80.8M	476.1M	631.6M	901.8M	899M	1.2B	1.2B	1.2B	1.3B	1.5B
Total liabilities	348.6M	634.2M	836.3M	1B	1.2B	1.4B	1.4B	1.5B	1.8B	2B
Shareholders' equity	698.3M	791.1M	1B	1.2B	1.3B	1.4B	1.4B	1.4B	1.4B	1.4B
Total debt	293M	575.9M	766.4M	901.8M	978.3M	1.2B	1.3B	1.3B	1.6B	1.7B
Net debt	288.1M	563.2M	759.5M	889.8M	969.8M	1.2B	1.2B	1.3B	1.6B	1.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	20.7M	9.4M	43.5M	14.8M	31.2M	19.4M	8.5M	4.7M	4.4M	23.4M	2M	3.3M
Receivables	61.1M	66.3M	73.1M	71.3M	70.3M	71.2M	70.5M	75.5M	65.8M	51.5M	73M	70.6M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	94.6M	88.2M	129.2M	98.5M	142.2M	133.1M	131.8M	121.5M	114.8M	119.4M	130.2M	129.2M
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	281M	296.9M	286.1M	295M	292.4M	322.9M	311.3M	376M	381.3M	367.8M	379.1M	364.4M
Total assets	2.8B	2.9B	2.9B	3B	3.1B	3.2B	3.2B	3.4B	3.4B	3.4B	3.4B	3.4B
Accounts payable	75.8M	80.2M	95.6M	106.2M	113.8M	101.3M	91.2M	115.1M	—	109.7M	—	—
Short-term debt	—	79M	144.5M	72.5M	100M	274.6M	—	—	—	199.1M	245.1M	43M
Total current liabilities	160M	241.9M	328.9M	284.3M	335.5M	496.8M	209.5M	233.8M	342.1M	527.9M	583.3M	379.6M
Long-term debt	1.2B	1.2B	1.2B	1.3B	1.4B	1.3B	1.6B	1.7B	1.6B	1.5B	1.5B	1.7B
Total liabilities	1.4B	1.5B	1.6B	1.6B	1.7B	1.8B	1.8B	2B	2B	2B	2.1B	2.1B
Shareholders' equity	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B	1.4B
Total debt	1.2B	1.3B	1.4B	1.4B	1.5B	1.6B	1.6B	1.7B	1.6B	1.7B	1.7B	1.7B
Net debt	1.2B	1.3B	1.3B	1.4B	1.4B	1.6B	1.6B	1.7B	1.6B	1.6B	1.7B	1.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.5M	5.4M	6.7M	8.2M	13.5M	34M	35.6M	21.1M	20.6M	13.6M
Depreciation & amortization	38.7M	46.4M	57.8M	86.1M	87.9M	86.7M	95.1M	88.6M	94.4M	112.1M
Stock-based compensation	2.9M	3M	3M	4.9M	4.1M	5M	6.5M	5.7M	3.2M	6M
Change in working capital	-4.8M	-4.9M	2.9M	54.7M	49.7M	5.1M	1.5M	8.6M	47.1M	128.5M
Operating cash flow	42.9M	48M	65.7M	151.5M	150.2M	122.4M	130.4M	109.8M	152.1M	259.2M
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	90K	-1.9M	—	0	0	-131.6M	-143.8M	-17.7M	-74.3M	2M
Dividends paid	-40.3M	-49.2M	-66M	-81.9M	-91.7M	-100M	-109.2M	-112.4M	-115.9M	-94.6M
Share repurchases	0	0	—	—	—	—	—	—	—	—
Financing cash flow	177.2M	243.9M	433.9M	169.7M	223.3M	185.4M	-59.7M	17.2M	252.9M	31.9M
Net change in cash	220.3M	290.1M	499.6M	321.2M	373.5M	176.3M	-73.2M	109.3M	330.7M	293.1M
Free cash flow	47.4M	49.2M	62.8M	142.3M	145.2M	118.3M	125.9M	114.5M	162.6M	259.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	6.1M	4.8M	4.9M	4.8M	5.1M	5.7M	3.3M	4.3M	1.2M	4.8M	1.4M	3.2M
Depreciation & amortization	21.6M	22.7M	23.2M	23.6M	23.4M	24.2M	26.3M	28M	28.5M	29.2M	32.8M	31.7M
Stock-based compensation	1.7M	1.1M	1.2M	1.2M	-181K	1M	1.4M	1.4M	1.6M	1.6M	2.1M	2.1M
Change in working capital	12.4M	-7.7M	1.4M	22.7M	28.5M	-5.5M	-4.6M	554K	123.7M	8.8M	-3.7M	4.3M
Operating cash flow	37.9M	17.2M	27.3M	49M	52.9M	22.9M	23.9M	38.1M	155M	41.9M	27.3M	44.6M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-17.7M	0	-3.4M	-2M	-26M	-2.8M	-8.5M	13.2M	-3.2M	508K	-6.9M	643K
Dividends paid	-28.2M	-28.6M	-28.7M	-28.8M	-28.9M	-29.5M	-30.2M	-21.3M	-21.3M	-21.7M	-21.8M	-21.9M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	1.5M	49.3M	35.2M	15.5M	79.8M	122.4M	10.7M	105.1M	-89.2M	5.2M	25.1M	-8M
Net change in cash	21.6M	66.5M	59M	62.5M	106.7M	142.6M	26.1M	156.4M	62.6M	47.7M	45.5M	37.2M
Free cash flow	37.9M	17.5M	23.9M	57M	57.2M	24.6M	24.2M	38.1M	155M	41.9M	27.3M	44.6M

Easterly Government Properties, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history