A Business at a Glance
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Easterly Government Properties, Inc.
DEA
$1.2B
Mkt Cap
$25.33
+0.96%
Easterly Government Properties, Inc. (DEA) has a current P/E ratio of 93.8, compared to its historical median P/E of 57.1. The stock is currently considered Expensive based on its historical valuation range.
Easterly Government Properties, Inc. (DEA) has a 5-year average return on invested capital (ROIC) of 1.0%. This is below average and may indicate limited pricing power.
Easterly Government Properties, Inc. (DEA) has a market capitalization of $1.2B. It is classified as a small-cap stock.
Yes, Easterly Government Properties, Inc. (DEA) pays a dividend with a trailing twelve-month yield of 7.32%.
Based on historical P/E analysis, Easterly Government Properties, Inc. (DEA) appears expensive. The current P/E of 93.8 is 64% above its historical median of 57.1. The estimated fair value CAGR (P/E method) is 7.7%.
Easterly Government Properties, Inc. (DEA) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
References to “Easterly,” “we,” “our,” “us” and “our company” refer to Easterly Government Properties, Inc., a Maryland corporation, together with our consolidated subsidiaries including Easterly Government Properties LP, a Delaware limited partnership, which we refer to herein as our operating partnership. We present certain financial information and metrics “at Easterly Share,” which is calculated on an entity-by-entity basis. At Easterly Share information, which we also refer to as being “at share,” “pro rata,” “our pro rata share” or “our share” is not, and is not intended to be, a presentation in accordance with accounting principles generally accepted in the United States of America (“GAAP”). We are an internally managed real estate investment trust, or REIT, focused primarily on the acquisition, development and management of Class A commercial properties that are leased to U.S. Government agencies that serve essential functions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 349M | 336M | 302M | 287M | 294M | 275M |
| Net Income | 11M | 12M | 19M | 18M | 31M | 30M |
| EPS | $0.23 | $0.27 | $0.46 | $0.18 | $0.34 | $0.35 |
| Free Cash Flow | 0 | 259M | 163M | 114M | 32M | -96M |
| ROIC | 0.0% | 0.7% | 0.8% | 0.8% | 1.3% | 1.3% |
| Gross Margin | - | 43.1% | 44.9% | 43.2% | 43.8% | 46.2% |
| Debt/Equity | 1.50 | 1.41 | 1.42 | 1.04 | 1.06 | 0.96 |
| Dividends/Share | $1.86 | $2.01 | $2.65 | $1.11 | $1.06 | $1.05 |
| Operating Income | 0 | 22M | 24M | 20M | 32M | 31M |
| Operating Margin | 0.0% | 6.6% | 7.9% | 6.9% | 10.9% | 11.1% |
| ROE | 0.8% | 0.9% | 1.4% | 1.4% | 2.4% | 2.4% |
| Shares Outstanding | 46M | 46M | 41M | 101M | 91M | 85M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 6.3M | 71M | 105M | 131M | 161M | 222M | 245M | 275M | 294M | 287M | 302M | 336M | 349M |
| Gross Margin | N/A | 35.2% | 36.0% | 38.9% | 19.9% | 36.5% | 22.1% | 46.2% | 43.8% | 43.2% | 44.9% | 43.1% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | 53M | 70M | 83M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -3.6M | 4.7M | 14M | 23M | 7.0M | 8.8M | 13M | 31M | 32M | 20M | 24M | 22M | 0 |
| Op. Margin | -57.1% | 6.6% | 13.1% | 17.4% | 4.4% | 4.0% | 5.2% | 11.1% | 10.9% | 6.9% | 7.9% | 6.6% | 0.0% |
| Net Income | 2.4M | -1.3M | 3.9M | 4.3M | 4.6M | 7.1M | 12M | 30M | 31M | 18M | 19M | 12M | 11M |
| Net Margin | 37.9% | -1.9% | 3.7% | 3.3% | 2.9% | 3.2% | 4.8% | 10.8% | 10.5% | 6.3% | 6.3% | 3.7% | 3.0% |
| Non-Recurring | 40K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.5M | 0 | 0 | 2.5M | 2.5M |
| Returns on Capital | |||||||||||||
| ROIC | 2.7% | 1.3% | 1.5% | 1.9% | 0.5% | 0.5% | 0.6% | 1.3% | 1.3% | 0.8% | 0.8% | 0.7% | 0.0% |
| ROE | 2.7% | -0.7% | 0.8% | 0.7% | 0.6% | 0.7% | 1.1% | 2.4% | 2.4% | 1.4% | 1.4% | 0.9% | 0.8% |
| ROA | 0.8% | -0.2% | 0.4% | 0.4% | 0.3% | 0.3% | 0.5% | 1.1% | 1.1% | 0.6% | 0.6% | 0.4% | 0.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 22M | 30M | 47M | 49M | 63M | 142M | 145M | 118M | 126M | 114M | 163M | 259M | 262M |
| Free Cash Flow | 22M | -140M | -121M | -343M | -340M | -252M | -87M | -96M | 32M | 114M | 163M | 259M | 0 |
| Owner Earnings | 21M | -4.8M | -1.4M | -8.6M | -6.7M | 45M | 47M | 22M | 21M | 17M | 63M | 139M | 135M |
| CapEx | 0 | 170M | 169M | 393M | 403M | 394M | 233M | 215M | 94M | 0 | 0 | 0 | 0 |
| Maint. CapEx | 0 | 33M | 46M | 55M | 66M | 92M | 94M | 91M | 98M | 91M | 96M | 114M | 120M |
| Growth CapEx | N/A | 137M | 123M | 338M | 336M | 302M | 139M | 123M | 0 | N/A | N/A | N/A | 0 |
| D&A | 0 | 33M | 46M | 55M | 66M | 92M | 94M | 91M | 98M | 91M | 96M | 114M | 120M |
| CapEx/OCF | N/A | 568.2% | 356.1% | 797.4% | 641.2% | 277.2% | 160.3% | 181.4% | 74.4% | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 21M | 40M | 49M | 66M | 82M | 92M | 100M | 109M | 112M | 116M | 95M | 86M |
| Dividend Yield | N/A | 4.5% | 4.9% | 3.9% | 3.9% | 3.7% | 3.0% | 3.1% | 3.5% | 4.1% | 10.4% | 9.4% | 7.3% |
| Share Buybacks | 0 | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 1.8M | 1.9M | 2.9M | 3.0M | 3.0M | 4.9M | 4.1M | 5.0M | 6.5M | 5.7M | 3.2M | 6.0M | 6.7M |
| Debt Repayment | 0 | 293M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | 384M | 500M | 663M | 894M | 890M | 1.0B | 1.2B | 1.3B | 1.4B | 1.9B | 1.8B | 2.0B |
| Cash & Equiv. | 31M | 8.2M | 4.8M | 13M | 6.9M | 12M | 8.5M | 11M | 7.6M | 9.4M | 19M | 23M | 2.0M |
| Long-Term Debt | N/A | 238M | 293M | 576M | 766M | 902M | 978M | 1.2B | 1.3B | 1.3B | 1.6B | 1.7B | 1.7B |
| Debt/Equity | 3321.00 | 1.04 | 0.90 | 1.01 | 1.01 | 0.85 | 0.92 | 0.96 | 1.06 | 1.04 | 1.42 | 1.41 | 1.50 |
| Interest Coverage | N/A | 1.7 | 4.9 | 24.1 | 2.9 | 5.1 | 12.2 | 32.1 | 26.4 | 13.3 | 5.0 | 2.2 | 2.2 |
| Equity | 1K | 377M | 560M | 668M | 894M | 1.1B | 1.2B | 1.3B | 1.2B | 1.3B | 1.3B | 1.3B | 1.3B |
| Total Assets | 301M | 912M | 1.0B | 1.4B | 1.9B | 2.2B | 2.5B | 2.8B | 2.8B | 2.9B | 3.2B | 3.4B | 3.4B |
| Total Liabilities | 3.3M | 292M | 349M | 634M | 836M | 1.0B | 1.2B | 1.4B | 1.4B | 1.5B | 1.8B | 2.0B | 2.1B |
| Intangibles | N/A | 117M | 115M | 143M | 166M | 169M | 163M | 186M | 157M | 148M | 161M | 184M | 190M |
| Retained Earnings | N/A | -1.7M | 2.7M | 7.1M | 13M | 20M | 32M | 62M | 93M | 112M | 132M | 145M | 146M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | 3.3M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 2,396.00 | -0.06 | 0.12 | 0.10 | 0.08 | 0.10 | 0.15 | 0.35 | 0.34 | 0.18 | 0.46 | 0.27 | 0.23 |
| Owner EPS | 20,628.00 | -0.21 | -0.04 | -0.20 | -0.12 | 0.63 | 0.61 | 0.26 | 0.23 | 0.17 | 1.53 | 3.05 | 2.91 |
| Book Value | 1.00 | 16.80 | 17.42 | 15.39 | 15.62 | 14.99 | 14.84 | 15.17 | 13.69 | 13.09 | 31.99 | 29.00 | 28.18 |
| Cash Flow/Share | 22,396.00 | 1.33 | 1.47 | 1.13 | 1.10 | 2.01 | 1.87 | 1.40 | 1.38 | 1.13 | 3.94 | 5.68 | 2.82 |
| Dividends/Share | N/A | 0.96 | 0.92 | 1.00 | 1.04 | 1.04 | 1.04 | 1.05 | 1.06 | 1.11 | 2.65 | 2.01 | 1.86 |
| Shares Out. | 0.0M | 22.4M | 32.2M | 43.4M | 57.3M | 70.9M | 77.8M | 84.5M | 91.0M | 101.0M | 41.3M | 45.6M | 46.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 91.7 | 126.3 | 121.9 | 153.7 | 103.2 | 46.9 | 31.3 | 59.6 | 54.6 | 77.4 | 110.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 75.2 | 25.0 | 6.4 | 3.7 | N/A |
| EV/EBIT | N/A | 102.4 | 62.8 | 53.2 | 55.3 | 43.8 | 36.8 | 30.5 | 22.0 | 27.6 | 26.8 | 24.9 | N/A |
| Price/Book | N/A | 0.5 | 0.6 | 0.8 | 0.8 | 1.0 | 1.1 | 1.1 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 |
| Price/Sales | N/A | 2.5 | 3.2 | 4.0 | 5.2 | 4.1 | 5.2 | 4.7 | 4.4 | 3.7 | 3.8 | 3.2 | 3.4 |
| FCF Yield | N/A | -72.7% | -33.4% | -61.1% | -48.9% | -22.8% | -7.1% | -6.8% | 3.3% | 10.2% | 15.2% | 25.8% | N/A |
| Market Cap | N/A | 193M | 364M | 562M | 695M | 1.1B | 1.2B | 1.4B | 986M | 1.1B | 1.1B | 1.0B | 1.2B |
| Avg. Price | N/A | 21.33 | 25.63 | 29.22 | 29.39 | 31.24 | 39.78 | 37.94 | 34.71 | 26.98 | 27.05 | 22.00 | 25.33 |
| Year-End Price | N/A | 22.78 | 27.52 | 31.56 | 24.39 | 38.43 | 38.69 | 40.99 | 26.63 | 28.30 | 25.13 | 20.90 | 25.33 |
Easterly Government Properties, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Easterly Government Properties, Inc. trades at 93.8x trailing earnings, compared to its 15-year median P/E of 57.1x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 4.7x vs a median of 15.7x. The company's 5-year average ROIC is 1.0% with a gross margin of 44.2%. Total shareholder yield (dividends) is 7.3%. At current prices, the estimated annualized return to fair value is +63.9%.
Easterly Government Properties, Inc. (DEA) reported annual revenue of $336 million in its most recent fiscal year, based on SEC EDGAR filings.
Easterly Government Properties, Inc. (DEA) has a net profit margin of 3.7%. This is a modest margin.
Easterly Government Properties, Inc. (DEA) generated $259 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Easterly Government Properties, Inc. (DEA) has a debt-to-equity ratio of 1.41. This indicates moderate leverage.
Easterly Government Properties, Inc. (DEA) reported earnings per share (EPS) of $0.27 in its most recent fiscal year.
Easterly Government Properties, Inc. (DEA) has a return on equity (ROE) of 0.9%. This indicates moderate shareholder returns.
Easterly Government Properties, Inc. (DEA) has a 5-year average gross margin of 44.2%. This indicates decent pricing power.
The Ledger Terminal provides 13 years of financial data for Easterly Government Properties, Inc. (DEA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Easterly Government Properties, Inc. (DEA) has a book value per share of $29.00, based on its most recent annual SEC filing.