ESBA vs IRS vs CUZ Stock Comparison

Empire State Realty OP, Irsa Investments & Representations and Cousins Properties Prices as of Oct 26, 2026 Peers: Industry group
CUZ Cousins Properties Inc
$29.18 +1.8% 1M +9.7% 1Y
Market cap
$4.75B
P/E
739.6x
Revenue (TTM)
$1.03B
Div. yield
0.05%
Office REITs Real Estate
3 wins

Head to Head

10 decided of 12

Irsa Investments & Representations leads on 5 of the 12 questions below (Irsa Investments & Representations 5, Cousins Properties 3, Empire State Realty OP 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionESBAIRSCUZLeader
Larger companyMarket capitalisation $1.31B $1.14B $4.75B CUZ
Cheaper on earningsLower P/E, profitable companies only 259.5x 4.2x 739.6x IRS
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 78.7x 139.0x IRS
Faster revenue growthRevenue growth, trailing twelve months +2.0% — +11.9% CUZ
More profitableNet margin, trailing twelve months 0.6% — 0.6% ESBA
Better return on capitalReturn on invested capital -1.1% — — –
Less leveragedLower net debt / EBITDA 5.0x — 34.6x ESBA
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.05% –
Better 1-year returnPrice return, last 12 months -39.1% +20.2% +9.7% IRS
Better 5-year returnAnnualised price return, 5 years -14.3%/yr +21.1%/yr -5.8%/yr IRS
Less volatileAnnualised volatility, 1 year 51.8% 40.9% 27.1% CUZ
Higher overall scoreMean of the five percentile scores vs peers 33/100 87/100 28/100 IRS

Percentile Scorecard

ESBAIRSCUZ

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

AxisESBAIRSCUZ
Valuation 69 #45 of 145 98 #4 of 145 26 #108 of 145
Growth 2 #139 of 142 – 29 #101 of 142
Profitability 26 #101 of 136 – 30 #96 of 136
Financial Health 60 #56 of 139 68 #45 of 139 38 #87 of 139
Shareholder Returns 9 #120 of 131 95 #7 of 131 19 #106 of 131
Overall 33 87 28
  • ESBA ranked among 149 companies in Property REITs
  • IRS ranked among 149 companies in Property REITs
  • CUZ ranked among 149 companies in Property REITs

Price Performance

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

Returns

PeriodESBAIRSCUZSPY
1 month +20.8%-3.9%+1.8% -0.8%
3 months -13.1%-8.9%-9.0% +3.5%
6 months -13.7%-2.6%+16.3% +7.0%
Year to date -23.3%-14.3%+13.2% +12.2%
1 year -39.1%+20.2%+9.7% +13.0%
3 years -38.8%+125.3%+63.2% +86.3%
3 years, per year -15.1%+31.1%+17.7% +23.1%
5 years -53.8%+159.9%-25.8% +68.6%
5 years, per year -14.3%+21.1%-5.8% +11.0%
10 years -75.4%-32.4%-5.1% +258.0%
10 years, per year -13.1%-3.8%-0.5% +13.6%

Risk

MeasureESBAIRSCUZSPY
Volatility, 1Y 51.8%40.9%27.1% 12.7%
Downside volatility, 1Y 61.1%39.3%28.9% 12.7%
Beta vs S&P 500, 1Y 0.421.170.59 1.00
Return / volatility, 1Y -0.750.490.36 1.02
Max drawdown, 5Y -66.4%-37.9%-58.2% -25.4%
From 52-week high -37.7%-23.0%-9.7% -1.8%
52-week high $7.75$18.41$32.30 $779.14
52-week low $3.85$13.20$21.34 $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.

MultipleESBAIRSCUZ
P/E now vs peer median 256.9xmedian 27.4x 4.2xmedian 27.4x 747.4xmedian 27.4x
P/S now vs peer median 1.7xmedian 4.2x 2.7xmedian 4.2x 4.6xmedian 4.2x
EV/EBITDA now vs peer median 12.5xmedian 14.2x —median 14.2x 79.1xmedian 14.2x
P/FCF now vs peer median -3.0xmedian 23.2x 11.1xmedian 23.2x -13.0xmedian 23.2x
P/B now vs peer median 0.7xmedian 1.3x 0.7xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median -4.30median 2.11 —median 2.11 -11.34median 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 monthsESBAIRSCUZ
Revenue $784.18M – $1.03B
Gross profit – – $704.58M
Operating income -$34.52M – -$322.93M
Net income $9.26M – $6.88M
Free cash flow -$437.31M – -$369.91M
EPS (diluted) $0.02 – $0.04
Cash & equivalents $85.61M $76.28M $6.70M
Total debt $4.54B $3.24B $3.73B
Shares (diluted) 268.95M 77.90M 165.29M
Enterprise value $871.27M $85.38M $4.73B

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
MetricESBAIRSCUZ
P/E 256.9x 4.2x 747.4x
P/FCF -3.0x 11.1x -13.0x
P/Operating cash flow 5.7x – 11.1x
P/S 1.7x 2.7x 4.6x
P/B 0.7x 0.7x 1.1x
P/Tangible book 0.7x 0.7x 1.1x
EV/EBITDA 12.5x – 79.1x
EV/EBIT -62.8x – -26.4x
EV/Revenue 2.8x – 8.2x
EV/FCF -5.0x – -23.1x
EV/Operating cash flow 9.5x – 19.7x
PEG (3Y EPS CAGR) -4.30 – -11.34

Growth

14 metrics
MetricESBAIRSCUZ
Revenue growth (1Y) 2.0% – 11.9%
Revenue CAGR (3Y) 2.9% – 9.1%
Gross profit growth (1Y) – – 11.0%
Gross profit CAGR (3Y) – – 10.2%
Operating income growth (1Y) -123.1% – -45.3%
Operating income CAGR (3Y) -31.0% – -21.9%
Net income growth (1Y) -86.5% – -88.7%
Net income CAGR (3Y) -51.3% – -64.2%
EPS growth (1Y) -92.1% – -89.1%
EPS CAGR (3Y) -59.8% – -65.9%
Operating cash flow growth (1Y) -13.3% – 4.4%
Operating cash flow CAGR (3Y) -0.8% – 5.4%
Free cash flow growth (1Y) -169.4% – 47.5%
Free cash flow CAGR (3Y) -149.9% – -98.0%

Profitability

14 metrics
MetricESBAIRSCUZ
Gross margin – – 68.1%
EBITDA margin 22.1% – 10.4%
Operating margin -4.4% – -31.2%
Pretax margin 1.3% – -48.2%
Net margin 0.6% – 0.6%
FCF margin -55.8% – -35.7%
Operating cash flow margin 29.0% – 41.7%
Return on equity 0.5% – 0.2%
Return on assets 0.2% – 0.1%
Return on invested capital -1.1% – –
Return on capital employed – – –
Asset turnover 0.2x – 0.1x
Cash conversion (OCF / net income) 24.6x – 62.8x
Stock comp / revenue 3.9% – 1.6%

Financial Health

11 metrics
MetricESBAIRSCUZ
Debt / assets 22.4% 37.9% 41.3%
Debt / equity 0.5x 0.8x 0.8x
Net debt / EBITDA 5.0x – 34.6x
Debt / FCF -2.2x – -10.1x
Liabilities / assets 58.1% 50.1% 50.3%
Equity / assets 41.9% 49.9% 49.7%
Interest coverage -0.3x – -1.8x
Current ratio – 1.8x –
Quick ratio – 1.7x –
Cash ratio – 1.3x –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricESBAIRSCUZ
Dividend yield 3.3% 10.0% 4.4%
Net buyback yield – – –
Shareholder yield 3.3% 10.0% 4.4%
Payout ratio (earnings) – – 3,132%
Payout ratio (FCF) – – -58.2%
Dividend growth (1Y) – – 4.8%
Dividend CAGR (3Y) – – 3.2%

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.

ConsensusESBAIRSCUZ
Forward P/E – 78.7xFY2027 139.0xFY2026
EPS, next fiscal year – $0.18FY2027 $0.21FY2026
EPS growth, next FY – -50.0%FY2027 -12.5%FY2026
EPS growth, the year after – -16.7% +128.6%
Revenue, next fiscal year – $436.40MFY2027 $1.04BFY2026
Revenue growth, next FY – +0.1%FY2027 +5.6%FY2026
Revenue growth, the year after – -1.4% +10.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersESBAIRSCUZ
Held by institutions – 17.2% 100.0%
Institutions holding – 68 393
Change in shares held, QoQ – +8.0% +0.6%
Institutions buying – 34 200
Institutions selling – 11 139
Buyers to sellers – 3.09 1.44

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.

ESBAIRSCUZ
ESBA 1.00 0.18 0.23
IRS 0.18 1.00 0.17
CUZ 0.23 0.17 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ESBA, IRS and CUZ?

Cousins Properties (CUZ) is the largest by market capitalisation: Empire State Realty OP (ESBA) $1.31B, Irsa Investments & Representations (IRS) $1.14B, Cousins Properties (CUZ) $4.75B.

Which stock is cheaper, ESBA, IRS and CUZ?

Irsa Investments & Representations (IRS) trades on the lowest price-to-earnings ratio (Empire State Realty OP (ESBA) 259.5x, Irsa Investments & Representations (IRS) 4.2x, Cousins Properties (CUZ) 739.6x). On next year's consensus earnings, Irsa Investments & Representations (IRS) is cheapest (Irsa Investments & Representations (IRS) 78.7x, Cousins Properties (CUZ) 139.0x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Cousins Properties (CUZ) grew revenue fastest over the trailing twelve months: Empire State Realty OP (ESBA) +2.0%, Cousins Properties (CUZ) +11.9%.

Which company is more profitable?

Empire State Realty OP (ESBA) has the highest net margin (Empire State Realty OP (ESBA) 0.6%, Cousins Properties (CUZ) 0.6%).

Which stock has performed better?

Over the past year Irsa Investments & Representations (IRS) returned the most: Empire State Realty OP (ESBA) -39.1%, Irsa Investments & Representations (IRS) +20.2%, Cousins Properties (CUZ) +9.7%. Over five years, Irsa Investments & Representations (IRS) compounded fastest (Empire State Realty OP (ESBA) -14.3%/yr, Irsa Investments & Representations (IRS) +21.1%/yr, Cousins Properties (CUZ) -5.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Empire State Realty OP (ESBA) 0.00%, Irsa Investments & Representations (IRS) 0.00%, Cousins Properties (CUZ) 0.05%. Empire State Realty OP (ESBA) and Irsa Investments & Representations (IRS) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Cousins Properties (CUZ) has been the steadiest (Empire State Realty OP (ESBA) 51.8%, Irsa Investments & Representations (IRS) 40.9%, Cousins Properties (CUZ) 27.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ESBA, IRS and CUZ?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Irsa Investments & Representations (IRS) leads on 5. 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.