BDN vs ESRT vs ESS Stock Comparison

Brandywine Realty Trust, Empire State Realty Trust and Essex Property Trust Prices as of Oct 26, 2026 Peers: Industry group
BDN Brandywine Realty Trust
$2.91 +1.4% 1M -21.4% 1Y
Market cap
$513.56M
P/E
–
Revenue (TTM)
$498.29M
Div. yield
–
Office REITs Real Estate
3 wins

Head to Head

11 decided of 12

Essex Property Trust leads on 8 of the 12 questions below (Essex Property Trust 8, Brandywine Realty Trust 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBDNESRTESSLeader
Larger companyMarket capitalisation $513.56M $861.18M $17.80B ESS
Cheaper on earningsLower P/E, profitable companies only -3.6x 280.2x 43.0x ESS
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — 52.9x –
Faster revenue growthRevenue growth, trailing twelve months +0.5% +2.0% +4.7% ESS
More profitableNet margin, trailing twelve months -28.8% 0.4% 21.5% ESS
Better return on capitalReturn on invested capital 7.3% -1.1% — BDN
Less leveragedLower net debt / EBITDA 1.0x 5.0x 5.3x BDN
Higher dividend yieldTrailing dividend yield 0.00% 0.03% 0.04% ESS
Better 1-year returnPrice return, last 12 months -21.4% -36.6% +4.0% ESS
Better 5-year returnAnnualised price return, 5 years -26.1%/yr -13.7%/yr -4.2%/yr ESS
Less volatileAnnualised volatility, 1 year 35.8% 36.7% 20.2% ESS
Higher overall scoreMean of the five percentile scores vs peers 58/100 35/100 46/100 BDN

Percentile Scorecard

BDNESRTESS

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBDNESRTESS
Valuation 95 #8 of 145 76 #35 of 145 13 #127 of 145
Growth 19 #115 of 142 1 #140 of 142 36 #92 of 142
Profitability 24 #103 of 136 25 #102 of 136 91 #13 of 136
Financial Health 59 #58 of 139 60 #56 of 139 51 #68 of 139
Shareholder Returns 94 #9 of 131 12 #115 of 131 39 #80 of 131
Overall 58 35 46
  • BDN ranked among 149 companies in Property REITs
  • ESRT ranked among 149 companies in Property REITs
  • ESS ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBDNESRTESSSPY
1 month +1.4%+22.9%+1.4% -0.8%
3 months -5.5%-10.5%-5.1% +3.5%
6 months -3.0%-11.2%+7.2% +7.0%
Year to date -0.3%-22.5%+5.2% +12.2%
1 year -21.4%-36.6%+4.0% +13.0%
3 years -22.4%-37.0%+33.3% +86.3%
3 years, per year -8.1%-14.3%+10.1% +23.1%
5 years -77.9%-52.0%-19.5% +68.6%
5 years, per year -26.1%-13.7%-4.2% +11.0%
10 years -80.6%-74.4%+32.7% +258.0%
10 years, per year -15.1%-12.7%+2.9% +13.6%

Risk

MeasureBDNESRTESSSPY
Volatility, 1Y 35.8%36.7%20.2% 12.7%
Downside volatility, 1Y 34.1%42.0%21.9% 12.7%
Beta vs S&P 500, 1Y 0.580.320.12 1.00
Return / volatility, 1Y -0.60-1.000.20 1.02
Max drawdown, 5Y -83.2%-65.6%-45.4% -25.4%
From 52-week high -19.6%-36.6%-7.7% -1.8%
52-week high $3.62$7.96$298.33 $779.14
52-week low $2.47$3.93$239.61 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBDNESRTESS
P/E now vs peer median -3.5xmedian 27.4x 281.1xmedian 27.4x 42.8xmedian 27.4x
P/S now vs peer median 1.0xmedian 4.2x 1.1xmedian 4.2x 9.2xmedian 4.2x
EV/EBITDA now vs peer median 2.9xmedian 14.2x 10.0xmedian 14.2x 19.5xmedian 14.2x
P/FCF now vs peer median 58.4xmedian 23.2x -2.0xmedian 23.2x 30.5xmedian 23.2x
P/B now vs peer median 0.7xmedian 1.3x 0.5xmedian 1.3x 3.2xmedian 1.3x
PEG now vs peer median 0.04median 2.11 -4.70median 2.11 -5.33median 2.11

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBDNESRTESS
Revenue $498.29M $784.18M $1.93B
Operating income $73.79M -$34.52M $627.10M
Net income -$143.21M $9.26M $437.61M
Free cash flow $8.70M -$437.31M $580.66M
EPS (diluted) $-0.82 $0.01 $6.44
Cash & equivalents $37.87M $85.61M $58.33M
Total debt $1.07B $4.54B $26.96B
Shares (diluted) 174.38M 268.95M 64.28M
Enterprise value $331.73M $419.99M $17.56B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBDNESRTESS
P/E -3.5x 281.1x 42.8x
P/FCF 58.4x -2.0x 30.5x
P/Operating cash flow 4.2x 3.8x 15.8x
P/S 1.0x 1.1x 9.2x
P/B 0.7x 0.5x 3.2x
P/Tangible book 0.7x 0.5x 3.2x
EV/EBITDA 2.9x 10.0x 19.5x
EV/EBIT 10.3x -50.3x 38.8x
EV/Revenue 1.5x 2.2x 12.6x
EV/FCF 87.7x -4.0x 41.9x
EV/Operating cash flow 6.3x 7.6x 21.8x
PEG (3Y EPS CAGR) 0.04 -4.70 -5.33

Growth

14 metrics
MetricBDNESRTESS
Revenue growth (1Y) 0.5% 2.0% 4.7%
Revenue CAGR (3Y) -0.7% 2.9% 5.2%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) 639.1% -123.1% -35.4%
Operating income CAGR (3Y) -12.4% -31.0% -2.6%
Net income growth (1Y) 56.1% -86.5% -49.8%
Net income CAGR (3Y) -97.3% -51.3% -7.9%
EPS growth (1Y) 56.2% -92.4% -48.2%
EPS CAGR (3Y) -97.9% -59.8% -8.0%
Operating cash flow growth (1Y) -18.7% -13.3% 8.3%
Operating cash flow CAGR (3Y) -14.1% -0.8% 5.4%
Free cash flow growth (1Y) -25.6% -169.4% 344.6%
Free cash flow CAGR (3Y) -30.4% -149.9% -3.3%

Profitability

14 metrics
MetricBDNESRTESS
Gross margin – – –
EBITDA margin 53.2% 22.1% 64.9%
Operating margin 14.8% -4.4% 32.5%
Pretax margin -28.7% 1.3% 18.9%
Net margin -28.8% 0.4% 21.5%
FCF margin 1.7% -55.8% 30.1%
Operating cash flow margin 24.4% 29.0% 58.0%
Return on equity -20.0% 0.5% 7.9%
Return on assets -4.0% 0.2% 3.4%
Return on invested capital 7.3% -1.1% –
Return on capital employed – – –
Asset turnover 0.1x 0.2x 0.1x
Cash conversion (OCF / net income) -0.9x 24.6x 2.6x
Stock comp / revenue 1.9% 3.9% 0.6%

Financial Health

11 metrics
MetricBDNESRTESS
Debt / assets 8.3% 22.4% 51.9%
Debt / equity 0.4x 0.5x 1.2x
Net debt / EBITDA 1.0x 5.0x 5.3x
Debt / FCF 33.7x -2.2x 11.5x
Liabilities / assets 80.3% 58.1% 57.5%
Equity / assets 19.7% 41.9% 42.5%
Interest coverage – -0.3x 2.4x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricBDNESRTESS
Dividend yield 11.0% 3.1% 3.8%
Net buyback yield 0.4% – 0.3%
Shareholder yield 11.4% 3.1% 4.1%
Payout ratio (earnings) – 259.1% 151.6%
Payout ratio (FCF) – -5.5% 114.2%
Dividend growth (1Y) – 2.2% 4.0%
Dividend CAGR (3Y) – 1.9% 4.8%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBDNESRTESS
Forward P/E – – 52.9xFY2026
EPS, next fiscal year $-0.81FY2026 $-0.35FY2027 $5.21FY2026
EPS growth, next FY – -240.0%FY2027 -49.9%FY2026
EPS growth, the year after – – +29.6%
Revenue, next fiscal year $503.69MFY2026 $758.24MFY2026 $2.05BFY2026
Revenue growth, next FY +10.1%FY2026 -1.3%FY2026 +9.2%FY2026
Revenue growth, the year after -17.2% +4.5% -7.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBDNESRTESS
Held by institutions 73.2% 83.1% 100.0%
Institutions holding 232 228 630
Change in shares held, QoQ +2.5% +0.4% +4.7%
Institutions buying 130 141 348
Institutions selling 68 51 183
Buyers to sellers 1.91 2.76 1.90

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BDNESRTESS
BDN 1.00 0.29 0.39
ESRT 0.29 1.00 0.40
ESS 0.39 0.40 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BDN, ESRT and ESS?

Essex Property Trust (ESS) is the largest by market capitalisation: Brandywine Realty Trust (BDN) $513.56M, Empire State Realty Trust (ESRT) $861.18M, Essex Property Trust (ESS) $17.80B.

Which stock is cheaper, BDN, ESRT and ESS?

Essex Property Trust (ESS) trades on the lowest price-to-earnings ratio (Brandywine Realty Trust (BDN) -3.6x, Empire State Realty Trust (ESRT) 280.2x, Essex Property Trust (ESS) 43.0x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Essex Property Trust (ESS) grew revenue fastest over the trailing twelve months: Brandywine Realty Trust (BDN) +0.5%, Empire State Realty Trust (ESRT) +2.0%, Essex Property Trust (ESS) +4.7%.

Which company is more profitable?

Essex Property Trust (ESS) has the highest net margin (Brandywine Realty Trust (BDN) -28.8%, Empire State Realty Trust (ESRT) 0.4%, Essex Property Trust (ESS) 21.5%). On return on invested capital, Brandywine Realty Trust (BDN) leads (Brandywine Realty Trust (BDN) 7.3%, Empire State Realty Trust (ESRT) -1.1%).

Which stock has performed better?

Over the past year Essex Property Trust (ESS) returned the most: Brandywine Realty Trust (BDN) -21.4%, Empire State Realty Trust (ESRT) -36.6%, Essex Property Trust (ESS) +4.0%. Over five years, Essex Property Trust (ESS) compounded fastest (Brandywine Realty Trust (BDN) -26.1%/yr, Empire State Realty Trust (ESRT) -13.7%/yr, Essex Property Trust (ESS) -4.2%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Essex Property Trust (ESS) has the highest dividend yield: Brandywine Realty Trust (BDN) 0.00%, Empire State Realty Trust (ESRT) 0.03%, Essex Property Trust (ESS) 0.04%. Brandywine Realty Trust (BDN) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Essex Property Trust (ESS) has been the steadiest (Brandywine Realty Trust (BDN) 35.8%, Empire State Realty Trust (ESRT) 36.7%, Essex Property Trust (ESS) 20.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BDN, ESRT and ESS?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Essex Property Trust (ESS) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.